Crypto News: Binance FUD, SBF Arrest, USDC, Infinite Energy & MORE!

Foreign To the coin Bureau weekly crypto review Here at this week's top headlines in the Crypto news Next leg lower crypto continues its Downward Trend as stocks collapse and Liquidity dries up how close are we to The bear Market bottom Bankman freed banged up the disgraced Founder of FTX and Alameda research is Finally put behind bars and begs for Extradition who ratted him out Baseless binance fund the biggest crypto Exchange experiences a multi-billion Dollar run on the bank in response to Speculation everything you need to know Countries and stable coins Ukraine Leverages stellar and usdc while Bermuda And Argentina both announced the Development of USD stable coins what Does this mean for cryptocurrency Daily developer decline active crypto Devs dropped by over 60 percent with Work on some crypto projects flatlining Completely which ones are being affected The most Infinite Energy imminent scientists Achieve Fusion Energy generation for the First time unlocking the door to endless Electricity when will the Doomsday Profits admit defeat And of course some closing thoughts from The Peerless Mr Benjamin Karen all this And More in just a moment

Good morning afternoon or evening thank You for tuning in my name is guy and What you're about to see is educational Content not Financial advice you can Find any topics you're looking for using The timestamps in the video timeline and Now for today's top stories Last week the crypto Market erased Almost a month of gains in a matter of Days the craziest part is that the Biggest pump occurred hours before the Biggest dump and that's because of Everyone's favorite institution the Federal Reserve Leading up to last Wednesday's fed Meeting the markets were rallying in Anticipation that chairman Jerome Powell Would be announcing an easing of Interest rates in the subsequent press Conference This was primarily because of the low CPI print for November which had come in The day before Unfortunately Jerome confirmed what we At the coin Bureau had noticed during His recent appearance at the Brookings Institution the FED is going to keep Rates higher for longer than what Investors are pricing in Specifically the FED will be raising Interest rates up to around 5 and Keeping them there This is significant because interest Rates at five percent means that the FED

Will have to continue raising them for The next few meetings the Futures Markets were pricing in a pause at the Fed's next meeting in January but it Looks like the pause may not come until Next spring if you're subscribed to My Weekly Newsletter you'll also know that There are two crypto specific factors That have been weighing down the crypto Markets These are the possibility that the SEC Will win its case against Ripple and the Possibility that digital currency group Or dcg is facing imminent bankruptcy as You might have heard there were rumors Going around that the sec's case against Ripple would be settled last Thursday This has yet to occur which is a Blessing or a curse depending on the Outcome meanwhile all the altcoins Associated with dcg have been selling Off leading to insolvency speculation Now it's too soon to say what the Outcome of either of these Crypto-specific factors will be The worst part is that they're just two Factors of many to keep in mind in the Coming months for example Mount gox Creditors will be receiving their Long-lost BTC in late January or early February we could see some selling as a Result now with some luck The Dominoes Will finish falling sometime early next Year which is roughly where the crypto

Bear Market bottom could be this again Depends on the fed's interest rate Roadmap as well as a series of macro Factors that are affecting the very Inflation the FED is fundamentally Fighting as a cherry on top we have the Contagion from the collapse of FTX and Alameda research which continues to Spread as does the regulatory response The good news is that Sam bankman freed Is finally behind bars in the Bahamas And is facing up to 115 years in prison For the he's done excuse my Language if you watched our recent Videos about the charges Sam is facing You'll know that they range from wire Fraud to money laundering you'll also Know that many of these charges were Conspiracies which legally speaking Means that Sam had accomplices who Helped him break many many laws if you Watched our video on coin Bureau clips About ftx's in a circle you'll know that There are at least eight other people Who Sam could have conspired with the Most likely accomplice is Sam's longtime Friend and FTX CTO Gary Wang who Presumably programmed all the back doors For Alameda what's odd is that Gary is Apparently nowhere to be found The same goes for nishad Singh alameda's Director of engineering who reportedly Worked under Gary's wing this is wild When you remember that FTX was

Reportedly hacked for over 600 million Dollars shortly after the exchange filed For bankruptcy it was initially believed That Sam had copped the crypto and fled To Argentina on his private jet but it's Starting to look like Gary and nishad Could have been the people who eloped Consider that new FTX CEO John J Ray III Claims that there's no concrete evidence That a even occurred more about that in A video I have for you later this week Now another FTX Insider who's been Facing extreme scrutiny is Caroline Ellison the CEO of Alameda research and Sam's former girlfriend Caroline was recently spotted running Around New York City just blocks away From the offices for the doj's southern District of New York logically it was Assumed she was the rat however a court Filing to Bahamas Regulators reveals That Ryan's salame the co-ceo of FTX Also blew the whistle on Sam not only That but he told Bahamas Regulators that Only three people had the ability to Transfer user funds from FTX to Alameda Sam Gary and nishad Really makes you think now the PTSD Caused by the collapse of FTX has had Crypto holders wondering which exchanges They can trust crypto exchanges tried to Calm these fears by producing proofs of Their cryptocurrency reserves only to Have their users wonder what their

Liabilities looked like if you watched Our video about proof of reserves you'll Know that binance was the crypto Exchange which led the charge for Transparency as always the mainstream Media took the opportunity to point out The issues in binance's proof of Reserves and their latest coordinated Fund campaign began First there were accusations of Market Manipulation on binance involving Trading pairs with low liquidity now if You've been in crypto for more than a Day you'll know that abnormal volatility Is commonplace when there is low Liquidity but this didn't stop the Critics from speculating Next Reuters reported that the usdoj was Considering filing charges against CEO Chiang pen Xiao for alleged money Laundering this is a charge that Regulators have waived at every crypto Personality over the years the fact that The doj still isn't sure about the Charges despite a four-year Investigation suggests CZ is innocent Then binance experienced a run on the Bank with crypto holders rushing to Withdraw their coins and tokens in Response to the fud what's interesting Is that many of these withdrawals were Made in usdc and some of the largest Withdrawals came from crypto Institutions with close connections to

FTX it's almost as if these entities Were coordinating to try and take down Binance but let's not go there after all It's of little consequence because CZ Welcomed the stress test with open arms And binance passed with flying colors This is an expected outcome given that Binance has over 60 billion dollars in Crypto but the fud campaign continued The same auditing firm that assessed Binance's proof of reserves as well as Those of other major crypto exchanges Announced that it would stop working With crypto exchanges altogether The auditor even removed all the proof Of reserves for binance from its website And of course BNB suddenly started to Crash which was totally not a Coordinated attack by the same Institutions that were withdrawing Massive amounts of usdc This led to fears that binance could Face the same squeeze as Alameda which Had collateralized loans using ftx's ftt Token as with the previous rounds of Coordinated flood binance was fine in The end the only binance related Headline that should cause concern is Cz's note to employees that the next few Months will be difficult for the Exchange due to crypto market conditions We'll see what that means in Practical Terms in due course now if you're Wondering why I suspect that binance is

Being targeted this is simply because of The intense stablecoin competition That's been occurring over the last few Months As far as I can tell it's been binance And paxos's busd versus coinbase and Circles usdc with tethers usdt doing its Own thing If my assessment of the situation is Correct then last week was a big win for The usdc camp besides the almost 3 Billion dollars of market cap that usdc Regained due to the run on binance Stella partnered with the United Nations To provide foreign aid to ukrainians now If I understand correctly Stella will Send usdc to every Ukrainian refugee This usdc will be redeemable for local Fiat using MoneyGram for context Stella Partnered with MoneyGram for Cross-border remittances using usdc last Year and has been slowly rolling out the Feature since that time Now this reminds me of a video I made Over two years ago about how Stella and Usdc would become the de facto Central Bank digital currency network of the United States this is due to the close Connections both projects have to Powerful entities in the traditional Financial system such as the fed and BlackRock what's fascinating is that the US government used usdc to get digital Dollars into Venezuela shortly after

That video went live to my mind Stella's Partnership with the UN is the beginning Of a broader plan to make digital Dollars available to many more countries This would be to ensure that the U.S Dollar remains dominant now the evidence For this can be found in the stablecoin Announcements made by Bermuda and Argentina both countries will be issuing Their own dollar denominated stable Coins Bermuda will issue its stable coin On polygon whereas Argentina has yet to Announce which blockchain it will Leverage For reference many developing countries Have been turning two USD stable coins Due to Financial social and economic Crises The one that comes to mind for me is Myanmar whose government in Exile Declared tethers usdt as de facto legal Tender in December last year I suspect It won't be the last if you need Additional evidence that stable coins Are starting to become a big deal then Look no further than the bank for International settlements or bis the Bank for central banks it recently Announced that it will be releasing Standards for central banks to hold Stable coins on their balance sheet in 2025. this suggests that stable coins Will play an Ever more significant role In the Global Financial system

If true it means that the smart contract Cryptocurrencies which support these Stable coins will Moon The thing is that not all of them will Survive and recent statistics suggest Most of them are struggling As reported by coindesk the number of Daily active developers in Cryptocurrency has decreased by 60 Percent over the last year at least According to data from token terminal One of the most shocking insights was That Solana only has around 75 Developers left down from a peak of Almost two and a half thousand this Statistic has been circulating on crypto Twitter and many believe that it's a Consequence of Solana's association with FTX and Alameda research upon closer Inspection however you can clearly see That the number of Solana developers Collapsed back in June more importantly The exact same Trend can be seen for Most major cryptocurrencies they all Began losing developers in January and The biggest drop was between June and July this makes sense when you realize That this was all in the aftermath of The collapse of Terror Celsius 3ac and Others to put things into perspective Ethereum is first with around 190 daily Active developers Cosmos is in second With around 150 and cardano is third With around 140. cardano is also tied

With kusama and polkadot each boasting 140 devs Solana currently sits in eighth Place roughly On a par with near Protocol and chain link with 70 daily Active developers polygon sits in 11th Place with closer to 60 which just goes To show you that the number of daily Active developers isn't the only way you Should be measuring a crypto Project's Potential Moreover it's not just the number of Daily active developers that matters but Also how long these developers stick Around for If you watched our video about electric Capital's crypto Dev report for 2021 You'll know that Bitcoin ethereum Cardano Stella and Monero work through The bear Market Back then I predicted that newer smart Contract cryptocurrencies with lots of Funding and Partnerships could see the Same developer resiliency and this seems To be the case additional projects worth Pointing out here are filecoin osmosis Flow and internet computer now if you've Noticed that your favorite crypto Project doesn't have many daily active Developers fear not the number of Developers should be proportional to the Type of project So long as the number isn't zero it Should be okay even then Litecoin is Proof that a crypto can rally with zero

Daily active devs anyways the last Headline I want to cover today may not Sound crypto related at first glance but Upon closer inspection it's easy to see That it has the power to change the Crypto industry literally Last week U.S scientists confirmed the First ever breakthrough in Fusion Energy After over 60 years of work without Getting too technical Fusion Energy is How the Sun and other stars get their Power the most important takeaway is That Fusion Energy creates more energy Than is put into it this theoretically Makes it possible to create Limitless Energy which is seriously incredible If you're wondering how this relates to Cryptocurrency well consider that the Primary criticism against proof of work Cryptocurrencies like Bitcoin has been That it uses too much energy When energy becomes Limitless it will Become very difficult for critics to Make this already baseless claim if you Watched our video about coin shares Crypto mining report you'll know that Bitcoin only uses around .05 percent of The world's total energy and accounts For just point zero eight percent of the World's carbon emissions this puts Bitcoin's carbon emissions On a par with Clothes dryers Now the caveat to this incredible Fusion Energy achievement is that it's still

Going to be years before this type of Energy is readily available it's also Questionable whether there will be any Incentives to generate this kind of Energy given that it will eventually be Free due to its sheer abundance as it so Happens there's a role that crypto could Play in this equation future Fusion Energy providers could mine BTC to Ensure that they continue to remain Profitable as energy costs go to zero This would exponentially increase Bitcoin security and make it an Unparalleled payment system and make no Mistake Fusion Energy would improve Every aspect of Our Lives that's Assuming the energy grids aren't Centrally controlled by governments and Their crony corporations as the world Economic forum and other International Organizations are hoping but it looks Like they won't succeed that's because The average person will be able to see See that the propaganda these Organizations have been peddling about The imminent scarcity of everything is Patently false they will see that yes Human innovation has the power to Improve the world and make the future a Better place for all living things and With that said let's turn to the great Mind of Mr Benjamin Cowan for his weekly Analysis Ben take it away Hey guy thanks again for having me back

On the show as always a pleasure to be Here I like to talk about three Different things whenever I come on just To provide a view of various aspects of The cryptoverse so the first thing I Wanted to briefly talk about is this Total indicator dashboard summary risk Which we talked about a little bit Before what you'll notice is it includes Things like price metrics on chain Metrics and social metrics this ranges From the fear and greed index Logarithmic regression to the appeal Multiple and the mbrbz score and social Risk like YouTube views YouTube Subscribers Etc and so it takes into Account all this normalizes prior ranges Between zero and one for social views it Includes things like growing adoption Over time but one of the things you'll Notice is that it provides a very Cyclical view of the crypto version of Bitcoin specifically where we go from Low risk to high risk and we go back and Forth as the Cycles go on and if we Color code it so if we and by the way Zero is low risk one is high risk okay So the lower you go you know the the Market is not as overheated the higher You go the Market's getting pretty Heated if you if you color code this and View it this way it's much more Aesthetically pleasing to look at though It's harder to tell the exact risk

Levels but the one thing I would like to Draw your attention to is if you hide Everything and only show the 0 to 0.1 Wristband for this total indicator risk For Bitcoin What you'll notice is that every bear Market Bitcoin eventually made it to Those lower levels right where the total Indicator risk went below 0.1 right now The total indicator risk is at 0.131 so It's relatively close but it's still not Quite there yet again you'll notice Sometimes it only took a few months for Us to get there in 2011 it only took About half a year but in 2014 it took About 14 months and in 2018 it took About 12 months so the time to get to That deep value region varies but in Every single bear Market we eventually Got there note that so far this bear Market we have not yet made it to those Levels we can also view it at the other End of the spectrum and say just look at The 0.8 to 0.9 and 0.9 to 1 wristbands And when you do that this is what you Get so it it shows you you know with Fairly good accuracy right where the Prior you know Mania phases are and What's interesting is that again this This Cycle's main Mania phase was Actually back over here in you know from You know from February until until March Or until April or so February through March April May time frame

Um so you know I think it's a decent View of the crypto verse and if you're If you're curious what how low would you Have to go before the 69 KP would start Showing anything if you go to the 0.7 to 0.8 wristband you can you can see that It did briefly get overheated over here As well but I think this is a good way To look at the crypto version so try to Figure out if we're at lower risk levels If we're at higher risk levels have we Reached the Deep value in the bear Market have we reached the Mania phase In a bull market it it really shows the Cyclical behavior of Bitcoin if you Break down the social risk and overlay It with ethereum I thought it was quite Interesting because you can see that the Social risk has now fallen below 0.3 Which is somewhat Um important considering that the last Time it you know really when I did this Back in 2018 around 0.3 and when it fell Below 0.3 that's actually what Eventually led to the next leg lower on Ethereum and I mean I understand that Ethereum is down a lot already I remain macro bullish on ethereum if We're talking about for the next cycle But in the short term well in the short Term who really knows like in any given Week it's hard to know what's going to Happen but in the short to medium term I Think it still remains somewhat prudent

To remain relatively cautious on on eth As the social risk has been Deteriorating recently and as history Shows us when the social risk Deteriorates ethereum does not typically Respond in kind which reminds me of of You know this aspect that I I like to Talk about a lot of my channel that's The dominance of Bitcoin and if you look At the dominance chart what you'll Notice is that we've actually been at Pretty low dominance levels since May of 2021 when you include stable coins and I Think it's only natural for us to Include stable coins if you go over to Trading view of course and you look up The Bitcoin dominance it includes stable Coins and when you include stable coins We have in fact been putting in lower Lows since May of 2021 but if you Exclude stable coins and you just say Well I don't care about that I want to Know how Bitcoin is performing with Respect to the altcoin market and not Including the stablecoin market It actually tells a very different story And again it shows that the Bitcoin Dominance has actually been putting in Higher lows since May of 2021 a good way To visualize this actually is to is to Look at it like this and you can see Even going all the way back to 2018 that The Bitcoin dominance has been putting In higher lows when you exclude Stables

But it's also been putting in lower Highs as well so there's these you know There's a cyclical Behavior where Bitcoin likes to go back up to the top Of the range at some point which I I Think you can kind of see it's breaking Out that way as we as I speak Um but eventually I imagine it'll hit The top the the higher part of this Range and and then we'll actually start To come back down so when people talk About like all season and that sort of Stuff it's much easier to get to an ALT Season when the dominance is high so if You think back to you know 2017 and 2018 When the dominance of Bitcoin is high This has a lot of room to draw and even In 2021 but when it's low it's harder to See that same type of all season that we See at the peaks of of mania phases this Is a good example of of just looking at The cyclical behavior of Bitcoin And just trying to figure out you know When is it you know when does the Support move back up to the upside or When is this important move back to the Downside so that's kind of where the Bitcoin dominance stands and you know You can view this a lot of different Ways you can always apply a moving Average to it like a 50-day SMA and and Kind of see how you know similar to back What it did over here sort of building Out one of these long-term bases so

Bitcoin dominance you know short to Medium term bullish Um and and again you can kind of see how It's all all sort of coming together With with Bitcoin just outside of its Deep value Zone the social risk on on Everything is is now below 0.3 we know What happened last cycle and that Occurred with you know on with respect To the ethereum price chart and as as That happens the dominance is also Sitting at relatively low levels still Primed I think for an eventual breakout To the upside but again thanks for Having me hopefully this has been Insightful and I look forward to seeing You again next week Thank you Ben and a quick bit of Housekeeping for you guys next week's Episode will be on Wednesday the 28th Because my team and I will be taking a Bit of a rest over the Christmas period It's been a long old year and we need it As I imagine you do too anyways that's All for today's coin Bureau weekly Crypto review so if you enjoyed it folks You know what to do hit that like button Subscribe button and Bell icon too if You're looking to maximize your gains During the bear Market the coin Bureau Deals page is where you should go you Can find the link to that resource and Many others in the description below Thank you all so much for watching and I

Will see you in next week's slightly Later episode