The Real Reason Bitcoin, Ethereum, & Altcoins are Crashing!! [Binance, DCG, Kevin]

Welcome back everybody my name's Austin Crypto continues to crash in fact Specifically several crypto coins Related to Barry silbert's dcg dollar Currency group have been selling off Aggressively this evening filecoin Zen Ethereum classic near leaving many Spectators to wonder whether the selling Is derived from dcg itself now at the End of today's video I will share with You a clip of Kevin O'Leary caught Literally caught red-handed lying about His involvement in cryptocurrency did That conversion coincide with the 15 Million that you got from from FTX like Always make sure you keep watching the Whole video but first off let's talk About the real reason for the sell-off And what is dcg very quickly dcg is a Venture capitalist company coindesk Foundry Genesis grayskill Investments And at least in 2021 had over 50 billion Dollars in assets under management in Fact looking at a snapshot of dcg's Portfolio and the specific cryptos that That they own like we mentioned Horizon Filecoin zcash eat classic a huge Position in Bitcoin and the reason for The sell-off if it is dcg could mean Only one of two things number one dcg is Trying to repay the 1.5 billion dollar Whole loan that they sent to Genesis or Two dcg is entering chapter 11 and to do So they must first exhaust all liquid

Assets if gbtc Has to liquidate That will be very bad in the short run I Mean like really bad and and look it's Right in the crosshairs right now I mean They have a billion dollar hole caused By FTX and Genesis and Barry's trying to Desperately to raise Capital but if if He's forced to actually liquidate the Trust To close the discount That that could be ugly because I put 600 000 plus Bitcoin on the market and That that'll I don't want to say how low we go then And the unfortunate reality of this dcg Problem right now is we don't really Have these answers yet and another big Reason for the continued fall of the Crypto Market is this binance fund is Finance safe we addressed this big Picture in our last two videos right Here but today let's continue the Conversation and get specific on does Binance actually hold the reserves What's the truth and then how much Liabilities which is the true question People can draw withdraw 100 of the Assets they have on binance we will not Have an issue at any given day well the Latest on-chain data does back up what CZ has been saying glass note analytics Estimates that binance does have over 600 000 Bitcoin as well as near their

All-time highs and how much Bitcoin Binance holds which is in stark contrast To FDX which visibly Drew down its Bitcoin balance starting in the spring Of 2022. so from the on-chain data the Reserves seem to be okay and again this Is a very sharp contrast to what FTX Showed six months before their Insolvency their bigger question though Is their liabilities this is what Worries me simply because we just don't Know huge unknown in the space FTX had So many liabilities they were so in debt Well CZ was asked this specifically this Is what he says in terms of The Credibility of binance you disclose the Binance holds about 60 billion dollars Of crypto assets but thus far you Haven't disclosed your liabilities and I Wonder Why that is and whether you will Yeah so we are working with other firms To do the other financials like Liabilities Etc very simply binance does Not owe people money Venice does not Have loans from other companies from Other funds but just we just don't have It you can ask any Fund in this in the In the ecosystem you can ask any of These we actually do also do not have VC Investments so we don't owe anybody any Money and uh we also do not have loans To other people Um that we depend on for our next

Payroll so Um we are very simple very Self-contained type of organization and We manage our cash very simply so ft That's very very different from the FTX Situation where so people who are hurt By FTX are not worried about everybody Else and and they were defending FTX Before but that's why they have money on FTX so but just because they're bitten By one snake doesn't mean that every Other animal is the same Time will tell you make your own Decisions this channel just gives you The information so you can make the best Decision for you and it's interesting Because this week despite all the fun This was the biggest week for Bitcoin Dominance in six months so while the Whole Market is experiencing a sell-off A lot of the speculative altcoin value Is getting sucked back up into Bitcoin And finally Kevin O'Leary caught lying About his involvement in crypto when Asked was the only reason Kevin that you Originally turned bullish on crypto in General years ago did that coincide with The timing of your ambassadorship to FDX Meaning is the only reason you turn Bullish on the space because FTX paid You time goes so quick I I just It Seems Like Only Yesterday I was totally Arguing with you on on squawkbox you Went from Charlie munger's view on

Bitcoin to Michael Saylor's view on Bitcoin and I actually kidded you about It I said who are you you you you may Know nothing but you're never in doubt You're so strident when you said it was Just worthless and rat poison and then Six months later you're like this Bitcoin Bull and and I so I didn't Understand that conversion did that Conversion coincide with the 15 million That you got from from FTX No I was investing three and a half Years earlier than that I changed my Mind back in early 2018 when I saw the Regulators and jurisdictions like Canada Switzerland and Abu Dhabi start to Change their minds but I'll tell you What really got me investing Joe you Know I mentioned these guest lecturing Things I do they're usually to Graduating cohorts of Engineers and so These are classes that are six to nine At night and these are best and Brightest at MIT or in business school At Harvard I started to notice back in 2018 I said okay wait where are you guys Going where are you going it's about a Third of the class will create Entrepreneurial efforts you know start Businesses they're all going to the Blockchain you can't spend that much I I I believed it back then I'm just trying To figure I gotta I gotta stop you I Gotta stop you

Uh you just said you made this Conversion in what year I think it was 2018 I started investing Yeah okay well I just just for as a Point of fact for what it's worth uh May 14 2019 uh you came on television and Called Bitcoin garbage Just yeah Wow losing credibility and by the way Most channels will just show you that First part I do an end with the full Clip this channel will always give you Both sides of the Bitcoin Kevin finishes By saying had you not didn't know it yet You had those very strong opinions about It I remember I remember I think it was 2017 coming on Swap box talking about The tokenization of a hotel in New York And the regulator let me know right After that they were not okay with that And that was the beginning of realizing Wow things are tough out here with this Crypto stuff but maybe you're right at Or maybe I started 2019 but the point is Was long before I became a prepaid Spokesperson years before so it didn't Change my mind to be paid or you know go Through that whole process I'm an Advocate of this because I think the Productivity available in uh in crypto And particularly Payment Systems looks Extraordinary and I understand the Incumbents in the banking system is Really trying to shut this down but the

Fact is it's a threatening technology Apology and disruptions always abhorred By the existing incumbents