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Joel Comm: If you've not been living in a cave this past

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Joel Comm: week and you may be a cave man, a cave

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Joel Comm: woman or a cave person, I don't know. You're aware

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Joel Comm: of the massive scandal surrounding FCX and Alameda Research. The

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Joel Comm: name Sam Bankman-fried is the talk of crypto Twitter, and

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Joel Comm: his cryptic tweets make for even more interesting conversation and speculation.

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Joel Comm: Billions of dollars in crypto are now gone as centralized

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Joel Comm: exchanges continue to fall and people are pissed as they

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Joel Comm: should be. The info that's turning up as people dig

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Joel Comm: into the story is making for one heck of a

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Joel Comm: Netflix movie. We're going to share the most relevant and

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Joel Comm: current information along with our irrelevant thoughts and opinions on

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Joel Comm: this SBF. What a h. Bad News Episode number 648.

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Joel Comm: Of the bad crypto podcasts. Five.

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UU: Four, three.

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UU: How are you all? Who's bad? I.

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Joel Comm: And welcome to the Bad Crypto podcast, the show for

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Joel Comm: the crypto curious and the crypto serious I'm Joel com

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Joel Comm: that's Travis right and I was wrong. This is not

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Joel Comm: episode 648. It's episode 649. So when we. Unlike many

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Joel Comm: journalistic endeavors out there, when we make an error we

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Joel Comm: correct it front page correct that not back page in

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Joel Comm: point six font print.

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Travis Wright: There you go. And here's the deal. I'm wearing my

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Travis Wright: Darth Vader shirt because who's more corrupt than Darth Vader? Right?

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Travis Wright: And so we're talking about SBF and f t x

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Travis Wright: w t f. We talked about it last time we

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Travis Wright: did a show earlier last week and the things were happening.

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Travis Wright: I was traveling and here we are. And actually I said,

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Travis Wright: I wish I had some swag and look, I got glasses,

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Travis Wright: FTX glasses right here and wow, you know, FTL, you know,

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Travis Wright: then the international ones not available in America. So there's FTC, USA,

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Travis Wright: and then there's the main FTL. So I've never actually

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Travis Wright: put money into FTL and I'm glad about that. I've

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Travis Wright: never really trusted them, especially after we chatted with Dominic

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Travis Wright: Williams of Definitive, an Internet computer protocol, and he was

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Travis Wright: saying some things that this dude had done to kind

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Travis Wright: of tank his project and we'll get him back on

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Travis Wright: the show in a future. And this is a complete

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Travis Wright: shit show in the crypto world right now because, I mean,

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Travis Wright: we last time we were talking, you know, Bitcoin was

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Travis Wright: kind of moving up. It was like 20, almost 22,000.

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Travis Wright: Ethereum was at 16,000. And then all of a sudden

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Travis Wright: the Bear Stearns of crypto has happened and now trust

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Travis Wright: in crypto. It's almost like crypto is a bad word

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Travis Wright: to people. Now you hear crypto like, Oh my God,

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Travis Wright: I never get it. And that's a huge scam. Just

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Travis Wright: to let you know, Bitcoin has never been hacked, right?

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Travis Wright: It's only user errors. And so we've said this 700

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Travis Wright: bajillion 14 times. If it's not your keys, it's not

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Travis Wright: your crypto, keep your crypto off the exchanges because here's

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Travis Wright: what happens when you don't do that, right? So yeah, we.

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Joel Comm: Got some really interesting guests are going to be coming

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Joel Comm: up including Dominic hopefully soon. Brad Mills who was the

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Joel Comm: one who was sounding the alert on Luna before Luna

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Joel Comm: happened and came on this show in the spring and said,

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Joel Comm: Be careful of Celsius, which caused me to remove my

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Joel Comm: funds from Celsius two weeks before their scan and pop.

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Joel Comm: He's got a lot to say about this and other

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Joel Comm: centralized exchanges and Kristina Bruhahn of Continuum Market, who is watching

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Joel Comm: all the data points of this market right now and

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Joel Comm: has some interesting things to say about this, the collapses

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Joel Comm: in crypto, where it's going and how we fix it.

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Joel Comm: The timestamp for today is the 14th of November 2022.

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Joel Comm: It is 2:42 p.m. Atlantic Standard Time, that's Puerto Rico

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Joel Comm: time and Coingecko dot com says the total crypto market

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Joel Comm: cap is $867 billion bitcoin 616 645 Etherium 1245 and

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Joel Comm: the BNB at 277 and Travis being not a financial

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Joel Comm: advisor and taking forever to capitulate that we were indeed

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Joel Comm: in a bear market. A very wrong about that. I

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Joel Comm: don't think we're done yet. That's just my personal opinion.

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Joel Comm: I think that the I think maximum pain is yet

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Joel Comm: to come. And we could talk a little bit about

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Joel Comm: why that is. I think we should go ahead, though,

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Joel Comm: and get into the news for today.

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Travis Wright: I agree. And I would say this, take that with

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Travis Wright: a grain of salt, because when Joel says it's a

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Travis Wright: bull market, it's going into a bear market. When Joel

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Travis Wright: says it's going into a bear market, it might be

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Travis Wright: a bull market. We don't know. Don't you know your

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Travis Wright: own research .

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Joel Comm: Jim Cramer, has been a good indicator of that and he's

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Joel Comm: saying buy Bitcoin now. So there you go. In a way,

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Joel Comm: he agrees with me. It's a good thing by that

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Joel Comm: means that it's going down. So, you know, in order

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Joel Comm: to kick this off, what I'd like to do is

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Joel Comm: Travis found a great video by a guy whose account

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Joel Comm: is J G underscore nuke on Twitter. Go follow this guy

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Joel Comm: rather than us. Try to summarize what's happened with FCX.

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Joel Comm: He's put together a 99 second video and we're going

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Joel Comm: to let you guys take a look at that and

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Joel Comm: listen to it. What he's got to say right now

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Joel Comm: to kind of set the table.

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Joel Comm: This is Sam Bankman-fried. People call him.

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Travis Wright: SBF. He's the founder of FDX.

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Joel Comm: He also controlled the crypto hedge fund called Alameda Research.

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Joel Comm: But that's all gone now. He wants you to think

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Joel Comm: he's a sweet guy, even. And a famous YouTuber who

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Joel Comm: called him the.

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Travis Wright: Most generous man in the world.

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Joel Comm: Yep, that happened. Do this and back Freed is a

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Joel Comm: liar and a crook. His personal crypto token was basically

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Joel Comm: a Ponzi scheme hidden below layers of moon bro jargon.

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Joel Comm: He even went on Bloomberg's podcast and bragged about it. Yup,

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Joel Comm: that happened. Used his Ponzi token as collateral to borrow

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Joel Comm: billions of real dollars that he couldn't pay back. He

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Joel Comm: then used those real dollars to build an empire out

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Joel Comm: of dying companies like Voyager.

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Travis Wright: And.

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Joel Comm: Blockfi. This led Jim Cramer to call him the new J.P. Morgan.

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Joel Comm: That's weird. It's not like Jim Cramer to promote a

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Joel Comm: billionaire con artist. SBF sold people cryptos like Bitcoin. Or

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Joel Comm: so they thought. What they really bought from SBF was

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Joel Comm: an IOU. But as long as everyone didn't cash in

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Joel Comm: their IOU at the same time, the scheme worked until

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Joel Comm: it didn't. This other A-hole who hates SBF came along

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Joel Comm: and engineered a bank run with some passive aggressive tweets.

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Joel Comm: It worked. SBF didn't have enough money to repay everyone

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Joel Comm: at once, and now his customers have lost everything. He'll

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Joel Comm: be happy to know that this is exactly how every

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Joel Comm: bank in the world operates. So where did all the

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Joel Comm: money go? He misappropriated $4 billion trying to save his

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Joel Comm: failing hedge fund. Woops, that's a felony. He spent $21

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Joel Comm: million on Super Bowl commercials. 5 million for the big guy,

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Joel Comm: $40 million in campaign donations. I wonder what he wanted

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Joel Comm: in return.

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Travis Wright: And everyone who's pointing at this story and saying this

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Travis Wright: is exactly why we need to regulate crypto.

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Joel Comm: Remember that SBF stole billions. That's already a.

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Travis Wright: Crime.

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Joel Comm: And he spent a lot of it on bribing politicians.

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Joel Comm: Also a crime in order to create a crypto monopoly

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Joel Comm: for himself. Government regulations don't protect the customers, they protect

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Joel Comm: the crooks. That's exactly what SBF was trying to do.

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Joel Comm: This guy did a great job of summarizing, and it

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Joel Comm: was a lot that he couldn't put in there because

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Joel Comm: there's so much happening here. But way to go. JG_NUKE .

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Joel Comm: We've got links to your Twitter and your video in

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Joel Comm: the show notes, and you guys should go subscribe to

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Joel Comm: the work he's doing over there. There's a few others, Travis,

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Joel Comm: that have been doing amazing work. One of them is

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Joel Comm: Bit Boy, Ben Armstrong. He there is a video on

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Joel Comm: YouTube that he posted two weeks before FTX went down and

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Joel Comm: he said he was saying, get your money out. This

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Joel Comm: thing is bad. Here's why. He was sounding the alarm and

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Joel Comm: people were ribbing him and calling him out, calling him names.

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Joel Comm: And he's been proven right. And now he has been

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Joel Comm: busting his ass to to get data. And frankly, I

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Joel Comm: think he's probably putting his life at risk a little bit.

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Joel Comm: Ben Armstrong did not suicide himself.

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Travis Wright: While we'll talk a little bit about more of that

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Travis Wright: at the end of the episode, because there are some

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Travis Wright: conspiratorial type of stuff that, you know, I could rant about,

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Travis Wright: but I don't I don't know that this is all

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Travis Wright: tied to the Makerdao guy who died recently in Puerto Rico,

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Travis Wright: but we're going to cover why it could be connected

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Travis Wright: and not about I don't know. It's all it's all conjecture.

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Joel Comm: So the the the long story short on this is

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Joel Comm: that they were playing with essentially fake money. Right? They

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Joel Comm: made their token and they loaned out far more than

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Joel Comm: they had in reserves. And when it came time to

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Joel Comm: pay the piper, they were way short on in the reserves.

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Joel Comm: And some of these centralized exchanges have been lending to

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Joel Comm: each other. Blockfi was impacted by this. They stopped withdrawals.

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Joel Comm: Others are wondering, you know, who is the next one

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Joel Comm: to fall? Is Crypto.com in trouble there? There are people

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Joel Comm: say no, that they're showing full disclosure on what they

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Joel Comm: have in reserves. But do they really? You don't know

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Joel Comm: who to trust anymore. And like Travis said, the key

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Joel Comm: is not your keys, not your crypto, get off exchanges.

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Joel Comm: Even Binance, you know, CZ comes out being the good guy here,

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Joel Comm: but I'm not completely sold that he is. Are you.

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Travis Wright: Okay? Well, I mean, you know, think about this. It's

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Travis Wright: called an exchange, which means, hey, you upload your crypto,

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Travis Wright: you exchange it to what you want and then you

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Travis Wright: pull your crypto back down. But people are conditioned to

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Travis Wright: be like a bank, right? Oh, I need a bank account.

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Travis Wright: And they're thinking that like people like FTX, like, Oh,

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Travis Wright: let's store my money there. Well, you don't store your

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Travis Wright: money on an exchange ever. You would only put a

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Travis Wright: little bit in the exchange that you maybe want to trade. Right.

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Travis Wright: And so the fact is, is that, you know, it's

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Travis Wright: hard to trust some of these and it's going to

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Travis Wright: take a while to build some of this trust back,

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Travis Wright: especially when you when you're talking about how after and how,

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Travis Wright: you know, Sam Banks and fraud, how they actually had

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Travis Wright: a backdoor built in to the system so they could

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Travis Wright: move around customer funds from out from FTX to Alameda

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Travis Wright: without triggering any sort of. Compliance or legal. And they

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Travis Wright: had that built in intentionally. And this is this is

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Travis Wright: the thing that I think it's interesting that somebody I

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Travis Wright: was going to I'll find the article actually, it's a

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Travis Wright: tweet thread where somebody said this. Imagine you're McDonald's and

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Travis Wright: you want to go ahead and create your own clown coin. Right?

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Travis Wright: Here's my clown coin. And what they started to do

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Travis Wright: is leveraging their clown coin that they created, using that

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Travis Wright: clown coin to then get loans, you know, from that

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Travis Wright: clown coin and saying, all right, this is collateral for

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Travis Wright: real money. And then people realizing that your clown coin

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Travis Wright: is a shit coin not worth anything and that your

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Travis Wright: whole business is propped up with this fictitious coin that

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Travis Wright: you created. And so since that happened, the whole thing

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Travis Wright: has completely tanked. Now, you've seen this. If you've looked

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Travis Wright: at crypto at all, you're going, Oh my God, what

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Travis Wright: has happened? The bottom has fallen out. This is the

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Travis Wright: Bear Stearns moment for crypto right now. I think this

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Travis Wright: is Mt. Gox be way beyond because here we are.

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Travis Wright: There's a lot of people coming in, a lot of

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Travis Wright: adopters are coming in. You know, Joel, even Mr. Wonderful

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Travis Wright: was talking about how great FCX is and how, you know,

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Travis Wright: Sam Bankman-fried as parents, you know Bankman and Fried. Barbara

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Travis Wright: Fried and whatever Bankman's name is. And they are both,

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Travis Wright: you know in compliance and you know they work at

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Travis Wright: Stanford and it so it's interesting to see like when

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Travis Wright: you look at his parents and I think we talked

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Travis Wright: about this on the episode we did last week where

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Travis Wright: his mom literally was creating a PAC, you know, ad

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Travis Wright: Mind the Gap Democrat PAC. And then there's a whole

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Travis Wright: lot of this money stuff that's being filtered around that

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Travis Wright: we found out. And it's going back to a certain

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Travis Wright: political party. It's really bizarre.

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Joel Comm: There you Go again. Bizarre being a political conspiracy realist, a coin

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Joel Comm: telling us doing a good job of tracking everything as

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Joel Comm: it's happening. The most recent information we have is that

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Joel Comm: at Kraken, they have frozen the accounts of FTX group Alameda

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Joel Comm: Research and their executives to protect their creditors. Now, look,

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Joel Comm: the odds are that if you had money in this exchange,

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Joel Comm: odds are it's gone. Now, if this people would say,

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Joel Comm: especially Bitcoin purists, that this is not as bad as Mt. Gox,

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Joel Comm: because Mt. Gox at that time it accounted for a

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Joel Comm: much a huge percentage of Bitcoin was stolen from Mt.

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Joel Comm: Gox at the time. However, this rabbit hole goes much

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Joel Comm: deeper into the conspiracy realist realm because we're talking big

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Joel Comm: money and there's a really interesting association loop that takes

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Joel Comm: place between FTX money for Ukraine and the Democrat Party.

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Joel Comm: And this is not conspiracy theorists at all. This is

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Joel Comm: all identifiable, proven factual, which you're not going to hear

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Joel Comm: about on the mainstream news. Ask yourself why you're not,

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Joel Comm: and then you can really begin to go down the

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Joel Comm: rabbit hole.

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Travis Wright: You know what's so crazy is this All this stuff

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Travis Wright: came to light right around the time the US was

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Travis Wright: having midterm elections, and we could go into some conspiracies

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Travis Wright: around that. But I do notice this, Joel, is that

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Travis Wright: every time I think it's 98, 99% of the time,

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Travis Wright: whenever they delay the counting of a vote, it always

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Travis Wright: turns out for the Democrats, right? I don't know. This

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Travis Wright: is such a wild.

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Joel Comm: And mystery.

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Travis Wright: Dance. I don't know how that is. Why mystery magical.

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Travis Wright: I think it's like, oh, how many votes do we need? Oh, okay, well,

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Travis Wright: give us a week. And here we are. But, you know,

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Travis Wright: talking about what was going on here. So we mentioned

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Travis Wright: last week that it was like, hey, it doesn't look

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Travis Wright: like you have liquidity. We have X amount of millions

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Travis Wright: and millions, hundreds of millions worth of f, t, d,

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Travis Wright: So we're going to start liquidating this that created this

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Travis Wright: bank run and then once this bank. And so they

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Travis Wright: didn't have enough liquidity because they've been moving stuff back

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Travis Wright: and forth and then the value of FTT just collapses, right?

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Travis Wright: I mean, it was sitting around 22, you know, it

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Travis Wright: was really it was very it was almost like a

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Travis Wright: stablecoin for a while, just like a little bit up

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Travis Wright: a little bit. That little bit.

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Joel Comm: It revealed the holes in the system is basically what

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Joel Comm: it did. And that that runs like, okay, House of Cards,

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Joel Comm: which by the way, as as our friend J.G. Nuke said

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Joel Comm: in his video, this is the exact same system that

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Joel Comm: the U.S. banking financial system runs on. If everybody was

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Joel Comm: to go to the banks to say, I want my money,

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Joel Comm: guess what? You're not going to get it. It's not

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Joel Comm: really there. It's a house of cards. But since the

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Joel Comm: government has, you know, basically deputized itself to be in

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Joel Comm: the business of fraud, then they get away with it.

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Joel Comm: But this exchange clearly is not. And I.

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Travis Wright: Well, let's say I think you're right on on that.

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Travis Wright: But as an aside, you know what you're talking about there.

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Travis Wright: The Federal Reserve Bank has never been audited. We don't

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Travis Wright: know how much money there is, how much money there

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Travis Wright: is in how much paper money there is, how much

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Travis Wright: digital money there is, and then they're leveraging it. And

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Travis Wright: then if I take $1,000,000 and put it in the

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Travis Wright: bank account, well then that bank can then loan out

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Travis Wright: $10 million because of fractional reserve banking. And so what

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Travis Wright: was happening, if you look at the asset sheet for FTX,

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Travis Wright: they say they have a billion plus dollars worth of Bitcoin,

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Travis Wright: you know, vulnerability that that their customers own. And then

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Travis Wright: on their asset sheet, they own zero bitcoin. Right? So

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Travis Wright: that's a complete that's, that's worse than fractional reserve banking

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Travis Wright: because you would think they would have at least $100

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Travis Wright: million worth of Bitcoin if they have $1,000,000,000 worth of

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Travis Wright: liquidity out there. So they were basically trading and selling

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Travis Wright: fake Bitcoin essentially, it seems like.

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Joel Comm: So when all this happened, Sam Bankman-fried fled to the

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Joel Comm: Bahamas where his office and his $40 million estate is,

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Joel Comm: and Bahamian where he.

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Travis Wright: Shared with his ten roommates that all happened to work

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Travis Wright: for FTX and Alameda. And they do a search on

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Travis Wright: this because this is crazy. They were having some Fleetwood

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Travis Wright: Mac 1970s sort of partner swapping crazy stuff going on

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Travis Wright: while he was sitting there on his beanbag. And I

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Travis Wright: don't know, dude, that is just so bizarre. And he goes, Oh,

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Travis Wright: he only made himself he was only taking a very

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Travis Wright: small percentage of the revenue. He was only making $100,000

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Travis Wright: a year from FTX while he was living in a

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Travis Wright: massive penthouse suite, you know, in the Bahamas and, you know,

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Travis Wright: partnered up with the CEO of Alameda Research (CAROLINE ELLISON).

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Joel Comm: Whatever you think of Solana, if the case can now

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Joel Comm: be made that Sam Bankman-Fried pumped it to the moon

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Joel Comm: and they have sole collateral. They also wrapped something like

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Joel Comm: 15,000 Bitcoins on SOL, which cannot be unwrapped now. So

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Joel Comm: that's another 15,000 bitcoins that are removed from the the supply.

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Travis Wright: I wonder why. Why can they not unwrap it? Because

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Travis Wright: this Solana is so low in price or something or

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Travis Wright: they've always had some chain problems. I mean, once upon

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Travis Wright: a time I was thinking of launching a project on Solana,

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Travis Wright: but then they got hacked. They were DDOS . They

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Travis Wright: had that double spending thing. So once you know about

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Travis Wright: all of that stuff and all the problems that Solana

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Travis Wright: has had, and then you tie it back up chain

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Travis Wright: to FTX, who really pumped it. It goes back to

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Travis Wright: me that Dominic Williams story when he said, Man, right.

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Travis Wright: Whenever they launched ICP, the price got popped up to

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Travis Wright: $400 through FTX and then they put a short on

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Travis Wright: it and the price tanked and they used that money

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Travis Wright: to pump up Solana. So I think that they used

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Travis Wright: a lot of that money from ICP, which is truly

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Travis Wright: a decentralized platform. That was one of the things that

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Travis Wright: Dominic Williams was talking about. Oh, hey, you know what?

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Travis Wright: We were the theory and hey, let's let's go ahead

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Travis Wright: and build ourselves the most decentralized Internet protocol and let's

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Travis Wright: create the crypto around that. And then a lot of

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Travis Wright: those can't trillionaires in Ethereum and these other ones, they

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Travis Wright: prefer to have control and power over the scenario. And

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Travis Wright: so they did their best to tank ICP. Now, in

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Travis Wright: my mind, I think ICP when it's all said and done,

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Travis Wright: if it is what we think it is, then it

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Travis Wright: could be a phenomenal project long term, not financial advice.

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Joel Comm: We've been talking about it for a year now and

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Joel Comm: Bit Boy is finally latched on to it and he is.

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Joel Comm: He understands ICP has been talking about it. So this

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Joel Comm: is the the CEO of Alameda Research her name is

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Joel Comm: Caroline something around.

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Travis Wright: Ellison.

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Joel Comm: Ellison. This is a video that has surfaced of her

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Joel Comm: being interviewed. And surely you can tell from what she

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Joel Comm: has to say here. She knows a lot about financial

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Joel Comm: markets and how they work. Give a listen to this.

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S3: Yeah, absolutely. Could pull it off without my math degree.

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S3: Use very little math. Use a lot of like elementary

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S3: school math. Being comfortable with risk is very important. We

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S3: tend not to have things like stop losses. I think

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S3: those aren't necessarily great risk management tool. Trying to think

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S3: of a good example of a trade where I've lost

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S3: a ton of money. Well, I don't know. I don't

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S3: want to go into specifics too much about what?

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Travis Wright: Stopgaps. I mean, nobody wants stop loss. What? That. What? Seriously,

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Travis Wright: You know what? I want to ask you this, Joel.

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Joel Comm: Ask me this.

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Travis Wright: When I first heard Alameda research. To me, that sounds

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Travis Wright: like a name that's been around for a long time. Like,

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Travis Wright: I didn't even go in and dive in, research into it,

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Travis Wright: because I'm thinking that thing's been around 20 plus years.

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Travis Wright: It's Alameda Research. Yeah, that's something about that was ringing

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Travis Wright: a bell in my brain that just sounds like it's

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Travis Wright: been around forever. I didn't know that it was created

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Travis Wright: in 2017. I thought that thing's been around since the

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Travis Wright: 1990s in my brain somehow.

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Joel Comm: In that brain of yours. Well, you got to see this.

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Joel Comm: So Sam Bankman-fried has been tweeting. First of all, he

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Joel Comm: came on to to Twitter, let's see, a few days ago.

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Joel Comm: And he said here that before he said that they're

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Joel Comm: filed for bankruptcy. He basically said he screwed up. Like

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Joel Comm: if he had a lawyer out there, I don't know

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Joel Comm: what they were telling him, but he's apologizing. He's basically incriminating himself.

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Travis Wright: Why is he said, I fucked up.

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Joel Comm: Twice, the dude's going to jail, but he has to.

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Joel Comm: I don't I just don't see a way around it.

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Joel Comm: But look, look at these tweets that have been coming out,

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Joel Comm: starting with this 115 hours ago.

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Travis Wright: Right. Spelling. What happened?

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Joel Comm: Yeah, he's spelling. Spelling. He's spelling. What happened? He just.

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Joel Comm: He tweets us. This is last night. Just what? And

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Joel Comm: then a couple hours later, just the letter H and

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Joel Comm: just a couple of hours ago today, like he let

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Joel Comm: his sleep. Slept on that all night. Now it's h

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Joel Comm: a p p e like why is what? What game

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Joel Comm: Like what this guy posted right here. This is w

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Joel Comm: t f what is the insanity of what we're seeing play out

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Joel Comm: in front of us in real time? Billions of dollars lost,

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Joel Comm: tanking the crypto market, killing trust for so many people

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Joel Comm: in cryptocurrency when obviously we and many others have warned

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Joel Comm: against centralized exchanges for so long. This shouldn't be a

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Joel Comm: surprise that it's come to this. But the drama that

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Joel Comm: we're seeing here is surprising.

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Travis Wright: It could be more nefarious than that. This could literally

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Travis Wright: be set up to eventually take the crypto fall to

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Travis Wright: kind of help usher in cbdcs. Right. When you look

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Travis Wright: at the whole ecosystem of this and when you tap

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Travis Wright: in and you can kind of see how what was

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Travis Wright: going on with the funding and then SBF ends up

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Travis Wright: investing $40 million and the second largest donor into Joe

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Travis Wright: Biden's campaign. Originally, there's some money laundering stuff that's going

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Travis Wright: on that we don't even fully understand.

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Joel Comm: Which you won't hear about on the news, gang, if you're watching CNN,

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Joel Comm: if you're watching MSP, MSNBC, if you're watching CNBC, if you.

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Travis Wright: Have MSNBC to do.

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Joel Comm: That, if you're reading The New York Times or the

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Joel Comm: whatever the Los Angeles or Chicago Tribune or any of

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Joel Comm: those papers, this is a great time to question if

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Joel Comm: you're being duped, if you're not really hearing the news,

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Joel Comm: because the news is out there and this is the

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Joel Comm: biggest scandal since Enron, without a doubt the biggest financial

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Joel Comm: scandal in America since Enron. And if you're not hearing

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Joel Comm: about it, if you're just hearing how bad crypto is

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Joel Comm: and FTX is crumbled, if you're not hearing the flow

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Joel Comm: of money where they can track where the money came

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Joel Comm: from and where it went, then you know, you're being

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Joel Comm: lied to. And that's going to be a real hard

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Joel Comm: pill to swallow for some of you that think that

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Joel Comm: you're trusting the news networks and sources that you rely on.

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00:24:49,530 --> 00:24:53,609
Travis Wright: Yeah, Well, I mean, when you start diving into deeply

423
00:24:53,609 --> 00:24:57,030
Travis Wright: and you start seeing the connections between Gary Gensler of

424
00:24:57,030 --> 00:25:02,970
Travis Wright: the SEC and his parents, SBF parents, how things are

425
00:25:02,970 --> 00:25:06,090
Travis Wright: sort of tied in. SBF was working with the SEC

426
00:25:06,090 --> 00:25:10,619
Travis Wright: and Gary Gensler to write crypto regulation, right? And so

427
00:25:10,890 --> 00:25:13,020
Travis Wright: when you're tying all that stuff together and then you

428
00:25:13,020 --> 00:25:15,720
Travis Wright: and then they're still talking about going forward with the

429
00:25:15,720 --> 00:25:19,580
Travis Wright: stuff that SBF was recommending. And I look at that

430
00:25:19,580 --> 00:25:24,959
Travis Wright: and I say, Wow. How can this be so corrupted

431
00:25:25,320 --> 00:25:28,620
Travis Wright: like it's people? Because PR man lets people.

432
00:25:28,830 --> 00:25:31,409
Joel Comm: This is the link to this. And everything else we're

433
00:25:31,410 --> 00:25:33,480
Joel Comm: talking about is in the show notes at bad co

434
00:25:33,480 --> 00:25:37,199
Joel Comm: dot i n forward slash 649. This is the tweet

435
00:25:37,200 --> 00:25:39,450
Joel Comm: that kind of kicked it all off from sees that

436
00:25:39,450 --> 00:25:41,520
Joel Comm: you can take a look at you know I mentioned

437
00:25:41,520 --> 00:25:44,609
Joel Comm: that Ben Armstrong bit boy Crypto's been doing a lot

438
00:25:44,609 --> 00:25:48,000
Joel Comm: of work and was his work has turned up is

439
00:25:48,000 --> 00:25:50,580
Joel Comm: who the real villain is in all of this. It

440
00:25:50,580 --> 00:25:56,910
Joel Comm: is the legal counsel for FTC's Dan Freedberg. And there

441
00:25:56,910 --> 00:26:01,710
Joel Comm: is a story that's linked on this guy's Facebook post

442
00:26:01,980 --> 00:26:04,950
Joel Comm: that you're going to have a hard time finding the

443
00:26:04,950 --> 00:26:07,919
Joel Comm: evidence that this guy is it because all of a

444
00:26:07,920 --> 00:26:12,720
Joel Comm: sudden the very existence of him is being scrubbed from

445
00:26:12,720 --> 00:26:17,340
Joel Comm: the Internet in real time? People are having to screenshot bios,

446
00:26:17,850 --> 00:26:21,690
Joel Comm: social pages that are being taken down, posts that are disappearing,

447
00:26:21,690 --> 00:26:27,480
Joel Comm: references on websites to this guy, all disappearing. Why? Why

448
00:26:27,480 --> 00:26:32,429
Joel Comm: would that happen? Well, apparently Sam Bankman-fried is, according to

449
00:26:32,430 --> 00:26:36,540
Joel Comm: this theory, the fall guy and Dan Freedberg may be

450
00:26:36,540 --> 00:26:40,170
Joel Comm: the one who was responsible for what just took place.

451
00:26:41,520 --> 00:26:45,959
Travis Wright: And I'm and imagine being so well respected in the

452
00:26:45,970 --> 00:26:50,070
Travis Wright: space like you're literally having conferences and you're having people

453
00:26:50,070 --> 00:26:54,090
Travis Wright: like Bill Clinton coming in, speaking at your conference. Right.

454
00:26:54,090 --> 00:26:56,740
Travis Wright: With Tom Brady and Joseph Obama.

455
00:26:57,000 --> 00:27:00,240
Joel Comm: I did not I did not buy any of that FTX.

456
00:27:00,240 --> 00:27:03,270
Joel Comm: I did not get any donations for I did I

457
00:27:03,270 --> 00:27:06,510
Joel Comm: did have sexual intercourse with that woman, though. I did.

458
00:27:07,140 --> 00:27:09,810
Travis Wright: It's just it's just when you tie everything together, you

459
00:27:09,810 --> 00:27:13,379
Travis Wright: can see that there is a big, big problem with

460
00:27:13,380 --> 00:27:16,530
Travis Wright: all of this. And when you hear these folks talk

461
00:27:16,800 --> 00:27:18,929
Travis Wright: and then, you know, they have no liquidity and then

462
00:27:18,930 --> 00:27:22,710
Travis Wright: you you go through the whole system and you're going, wow,

463
00:27:23,160 --> 00:27:25,530
Travis Wright: this thing right here, I like this damn free beer guy.

464
00:27:25,859 --> 00:27:28,709
Travis Wright: Nobody's really talking about this guy. And for somebody to

465
00:27:28,710 --> 00:27:31,980
Travis Wright: be able who is powerful enough to scrub someone from

466
00:27:31,980 --> 00:27:35,369
Travis Wright: the Internet, not only from the Internet, but from archives

467
00:27:35,550 --> 00:27:39,629
Travis Wright: and the Wayback Machine. Right. We do know. I know

468
00:27:39,630 --> 00:27:43,040
Travis Wright: I read this Taylor Lawrence, who is a I guess

469
00:27:43,050 --> 00:27:47,070
Travis Wright: a Washington Post or New York Times journalist, her uncle

470
00:27:47,070 --> 00:27:50,520
Travis Wright: runs the Wayback Machine. And so any time that she

471
00:27:50,520 --> 00:27:52,649
Travis Wright: wants to get anything scrubbed, she just talks to her

472
00:27:52,650 --> 00:27:54,750
Travis Wright: uncle and he scrubs all that stuff. So you don't

473
00:27:54,750 --> 00:27:57,690
Travis Wright: know that, you know, one of these prolific quote unquote,

474
00:27:57,690 --> 00:28:01,410
Travis Wright: journalists comes from a very, very wealthy family. Well, this

475
00:28:01,410 --> 00:28:05,879
Travis Wright: dude right here, Dan Friedberg, he is basically getting stuff

476
00:28:05,880 --> 00:28:09,210
Travis Wright: wiped out somehow. And this guy right here, you never

477
00:28:09,210 --> 00:28:09,960
Travis Wright: see this guy.

478
00:28:10,200 --> 00:28:13,020
Joel Comm: He's got he's got some super epic Goo-GONE and that

479
00:28:13,140 --> 00:28:16,410
Joel Comm: he even sprays it on the Internet and everything. Wow.

480
00:28:16,410 --> 00:28:20,220
Joel Comm: Disappears crazy. So this is a rabbit hole. Definitely worth

481
00:28:20,520 --> 00:28:27,240
Joel Comm: going down. And congratulations to Bitboy for for uncovering. Also,

482
00:28:27,720 --> 00:28:30,720
Joel Comm: Mario Nawfal, who's a friend of the show, was on

483
00:28:30,720 --> 00:28:33,990
Joel Comm: this show a few months ago. He has been doing

484
00:28:33,990 --> 00:28:39,840
Joel Comm: these Twitter spaces round tables almost daily. And he's grown

485
00:28:39,840 --> 00:28:41,940
Joel Comm: this thing. You and I have both been on them

486
00:28:41,940 --> 00:28:46,410
Joel Comm: as guests before speakers. He's grown it from thousands to

487
00:28:46,410 --> 00:28:49,230
Joel Comm: tens of thousands of people. And now he's doing these

488
00:28:49,230 --> 00:28:53,670
Joel Comm: marathon sessions where he is having people come on from exchanges.

489
00:28:53,670 --> 00:28:58,230
Joel Comm: He's inviting exchange CEOs to come on and be transparent

490
00:28:58,230 --> 00:29:02,280
Joel Comm: about their funds and in their holdings. Elon Musk even

491
00:29:02,280 --> 00:29:06,660
Joel Comm: popped in to and said something about Dogecoin going to

492
00:29:06,660 --> 00:29:09,540
Joel Comm: the moon, which of course pumped doge. And I stand

493
00:29:09,540 --> 00:29:14,280
Joel Comm: by the theory that he will be integrating Dogecoin for

494
00:29:14,280 --> 00:29:19,230
Joel Comm: payments on Twitter before Bitcoin is integrated. Probably a mistake,

495
00:29:19,230 --> 00:29:20,580
Joel Comm: but I think he's going to do it.

496
00:29:21,180 --> 00:29:24,630
Travis Wright: I think for these exchanges to regain trust, they have

497
00:29:24,630 --> 00:29:29,940
Travis Wright: to do some sort of proof of visibility into their liquidity. Right?

498
00:29:30,240 --> 00:29:34,860
Travis Wright: Because you can't have this fractional reserve crypto going on.

499
00:29:35,070 --> 00:29:37,410
Travis Wright: You have to have insights into that. And I think

500
00:29:37,410 --> 00:29:40,720
Travis Wright: the best ones and now my friend DeMar Boot, who

501
00:29:40,800 --> 00:29:45,660
Travis Wright: runs hacking out of Ukraine, has been talking about this, saying, Hey,

502
00:29:45,750 --> 00:29:49,200
Travis Wright: we got to have proof of visibility into the assets

503
00:29:49,200 --> 00:29:52,350
Travis Wright: of these people and we should know exactly what is

504
00:29:52,350 --> 00:29:54,990
Travis Wright: in the reserves at any time. There should not be

505
00:29:54,990 --> 00:29:58,530
Travis Wright: any arbitrage going on where they're actually faking the amounts

506
00:29:58,530 --> 00:30:01,380
Travis Wright: that they have and then getting the rug pulled off.

507
00:30:01,590 --> 00:30:02,190
Travis Wright: It's crazy.

508
00:30:02,820 --> 00:30:07,290
Joel Comm: Well, and what we have happening now is that other

509
00:30:07,290 --> 00:30:10,650
Joel Comm: exchanges are being, you know, saying, hey, what's your what's

510
00:30:10,650 --> 00:30:15,330
Joel Comm: your deal? So tether Circle and Coinbase say they have

511
00:30:15,330 --> 00:30:20,310
Joel Comm: zero exposure to FTX and Alameda. We don't necessarily have

512
00:30:20,310 --> 00:30:23,310
Joel Comm: the proof of that. That's what they're saying, that there

513
00:30:23,310 --> 00:30:27,870
Joel Comm: is no exposure. Which exchanges do have exposure? So the

514
00:30:27,870 --> 00:30:31,680
Joel Comm: ones that are being rumored out there to have exposure

515
00:30:31,860 --> 00:30:36,840
Joel Comm: are crypto.com crypto dot coms denying it. Kucoin haven't heard

516
00:30:36,840 --> 00:30:39,630
Joel Comm: anything from Kucoin about it. They have come out and

517
00:30:39,630 --> 00:30:44,850
Joel Comm: said the holdings that they have, but they could leave

518
00:30:44,850 --> 00:30:47,100
Joel Comm: some out. They do say that we have this much bitcoin,

519
00:30:47,100 --> 00:30:50,820
Joel Comm: this much ethereum blah blah blah, this much cases. You've

520
00:30:50,820 --> 00:30:55,650
Joel Comm: got Binance saying that they're not exposed anymore, you've got

521
00:30:55,830 --> 00:30:59,880
Joel Comm: gate Dot IO is a name that's being put on

522
00:30:59,880 --> 00:31:01,720
Joel Comm: the table and there's a.

523
00:31:01,890 --> 00:31:04,190
Travis Wright: And that's that's an interesting point right there. I want to,

524
00:31:04,200 --> 00:31:08,040
Travis Wright: I want to touch base on this Crypto.com their their

525
00:31:08,040 --> 00:31:10,920
Travis Wright: token is tanking as we speak. It's down 40 something

526
00:31:10,920 --> 00:31:15,090
Travis Wright: percent this week. But the CEO, Chris, I don't know

527
00:31:15,090 --> 00:31:17,220
Travis Wright: of his last name. It's a weird last name, but

528
00:31:17,430 --> 00:31:21,600
Travis Wright: they accidentally sent $400 million to the wrong address. They

529
00:31:21,600 --> 00:31:25,410
Travis Wright: sent it to gate.io gate dot I o had the ethics

530
00:31:25,410 --> 00:31:29,220
Travis Wright: to send it back to them. But when the CEO

531
00:31:29,220 --> 00:31:33,120
Travis Wright: is accidentally or whoever is doing that's actually selling $400 million,

532
00:31:33,120 --> 00:31:39,740
Travis Wright: and even if they didn't get that back like. My, my, my. Yeah.

533
00:31:39,850 --> 00:31:41,420
Travis Wright: Money off of exchanges.

534
00:31:41,810 --> 00:31:47,209
Joel Comm: Real interesting. So Solana is now down to $14. And

535
00:31:47,420 --> 00:31:53,840
Joel Comm: this story right here says that I guess this just happened, right?

536
00:31:53,840 --> 00:31:56,190
Joel Comm: It would have happened. The story was from November 9th.

537
00:31:56,190 --> 00:32:00,330
Joel Comm: Here it is, the 14th. Nearly 1 billion of Solana

538
00:32:00,360 --> 00:32:04,790
Joel Comm: said to be unstaked. That's a lot of supply that

539
00:32:05,270 --> 00:32:07,430
Joel Comm: that is being un taked.

540
00:32:08,930 --> 00:32:11,960
Travis Wright: And those if you look at the the pie chart

541
00:32:11,960 --> 00:32:16,010
Travis Wright: of who owns Solana, the community owns like a small amount.

542
00:32:16,010 --> 00:32:20,660
Travis Wright: A lot of it is the team, the advisors, the founders,

543
00:32:20,660 --> 00:32:23,000
Travis Wright: those types of people, and then the people who early

544
00:32:23,000 --> 00:32:27,890
Travis Wright: bought in. Right. And so Solana is so tied to

545
00:32:27,890 --> 00:32:31,430
Travis Wright: FTX that I don't know if Solana is going to

546
00:32:31,430 --> 00:32:34,760
Travis Wright: be able to make it through the crypto winter. And

547
00:32:34,760 --> 00:32:37,040
Travis Wright: that's that's just me. Just go on now. How in

548
00:32:37,040 --> 00:32:39,020
Travis Wright: the hell is it You got $1,000,000,000 set to be

549
00:32:39,020 --> 00:32:42,260
Travis Wright: on state? Well, guess what? Last week that would have

550
00:32:42,260 --> 00:32:46,400
Travis Wright: been two, three, 5 billion. The how much would it

551
00:32:46,400 --> 00:32:49,340
Travis Wright: have been back when it was $220 a token.

552
00:32:49,670 --> 00:32:52,940
Joel Comm: This is a developing story, gang. All of this is developing.

553
00:32:52,940 --> 00:32:58,070
Joel Comm: The contagion of what's happened with FTX is still spreading.

554
00:32:58,070 --> 00:33:01,460
Joel Comm: It is like a virus and we don't know everything

555
00:33:01,460 --> 00:33:04,940
Joel Comm: that it's going to impact. But I tell you this,

556
00:33:05,180 --> 00:33:10,450
Joel Comm: what this is proven and demonstrated. Is that centralized exchanges,

557
00:33:10,450 --> 00:33:14,200
Joel Comm: as Bitcoin purists have said for some time. A really

558
00:33:14,350 --> 00:33:18,670
Joel Comm: bad idea. There are banks, 2.0 banks in their current

559
00:33:18,670 --> 00:33:24,130
Joel Comm: form are a bad idea. And centralized exchanges are basically saying, Hey,

560
00:33:24,130 --> 00:33:28,570
Joel Comm: let's take this crypto concept and let's do two to

561
00:33:28,570 --> 00:33:33,160
Joel Comm: crypto what we've did to fiat currency. And it's a

562
00:33:33,160 --> 00:33:36,760
Joel Comm: good thing that this is happening when it is like

563
00:33:36,760 --> 00:33:43,510
Joel Comm: it's time for this shenanigans to stop. Decentralized exchanges are

564
00:33:43,510 --> 00:33:46,480
Joel Comm: the way to go. And I'm afraid what's going to

565
00:33:46,480 --> 00:33:49,750
Joel Comm: happen as a result of this, Travis, is the regulation

566
00:33:49,750 --> 00:33:52,239
Joel Comm: that they're going to want to implement is not going

567
00:33:52,240 --> 00:33:54,340
Joel Comm: to affect the it's not going to be about the

568
00:33:54,340 --> 00:33:58,660
Joel Comm: centralized exchanges. They're going after decentralization because then they don't

569
00:33:58,660 --> 00:34:00,790
Joel Comm: have control of the money. And they're going to bring

570
00:34:00,790 --> 00:34:04,360
Joel Comm: about these central bank digital currencies, currency.

571
00:34:04,490 --> 00:34:07,450
Travis Wright: That's the whole point. That's the whole point of this

572
00:34:07,450 --> 00:34:11,410
Travis Wright: whole thing. Like, I don't think that FTX was prepared

573
00:34:11,410 --> 00:34:14,710
Travis Wright: to collapse yet. I in my mind, I don't it

574
00:34:14,710 --> 00:34:17,980
Travis Wright: doesn't seem like, you know, all it took was a

575
00:34:17,980 --> 00:34:21,310
Travis Wright: couple of tweets might buy all that one release of

576
00:34:21,670 --> 00:34:26,259
Travis Wright: coindesk and then CZ tweeting about it and then boom. I

577
00:34:26,260 --> 00:34:28,259
Travis Wright: don't think they were ready to pull their own rug.

578
00:34:28,270 --> 00:34:32,710
Travis Wright: They were not prepared for this. So especially how how

579
00:34:32,710 --> 00:34:36,100
Travis Wright: close SBF is with Gensler and how they're working together

580
00:34:36,100 --> 00:34:39,730
Travis Wright: to create the crypto regulation. So it seems to me

581
00:34:39,730 --> 00:34:43,570
Travis Wright: that FTX was primed and set up to be the de

582
00:34:43,570 --> 00:34:48,580
Travis Wright: facto exchange, and it collapsed before they were quite ready.

583
00:34:48,580 --> 00:34:50,339
Travis Wright: And so I think they've been scrambling a little bit.

584
00:34:50,350 --> 00:34:54,160
Travis Wright: They don't necessarily know what to do. And I would say,

585
00:34:54,430 --> 00:34:56,650
Travis Wright: you know, I know Sam Bankman-fried is not listening to

586
00:34:56,650 --> 00:34:59,230
Travis Wright: this because I'm sure that he's freaking out because of people.

587
00:35:00,370 --> 00:35:03,840
Travis Wright: How do you lose that much respect and appreciation like that?

588
00:35:03,900 --> 00:35:07,899
Travis Wright: Like he's he canceled himself, but it's like there's so

589
00:35:07,900 --> 00:35:12,130
Travis Wright: much going on to this behind the scenes that I

590
00:35:12,130 --> 00:35:15,130
Travis Wright: think there's some nefarious players aside from that Dan Friedberg

591
00:35:15,130 --> 00:35:19,480
Travis Wright: guy or whatever. Who's who's who's pumping him up. And

592
00:35:19,480 --> 00:35:22,520
Travis Wright: when we tie it all together later on, we'll we'll

593
00:35:22,600 --> 00:35:23,230
Travis Wright: kind of share that.

594
00:35:23,830 --> 00:35:27,010
Joel Comm: So, you know, you said that he is probably freaking out.

595
00:35:27,550 --> 00:35:31,070
Joel Comm: Look at all of the investments that SBF had here.

596
00:35:31,090 --> 00:35:34,480
Joel Comm: This is actually on a Sir Lord Travis's LinkedIn. You can go

597
00:35:34,480 --> 00:35:38,500
Joel Comm: take a close look at all of these organizations that

598
00:35:38,500 --> 00:35:40,480
Joel Comm: had exposure investments.

599
00:35:40,610 --> 00:35:43,390
Travis Wright: And now this show down. Yeah, yeah. Scroll down here

600
00:35:43,390 --> 00:35:45,520
Travis Wright: and then there's another one right there. And there's the

601
00:35:45,520 --> 00:35:48,150
Travis Wright: other one right there. So, like, all of that is

602
00:35:48,210 --> 00:35:50,860
Travis Wright: I've gone in and here's how they were all sort

603
00:35:50,860 --> 00:35:57,250
Travis Wright: of connected. And what I've read is 134 companies that, that,

604
00:35:57,610 --> 00:36:01,509
Travis Wright: that SBF and the group has in Alameda and FDX

605
00:36:01,510 --> 00:36:04,990
Travis Wright: has invested in or part of is now filing for

606
00:36:04,989 --> 00:36:09,790
Travis Wright: bankruptcy 134 of these right now including Blockfi. We have

607
00:36:09,790 --> 00:36:12,160
Travis Wright: money on that. That sucks. So there's a whole lot

608
00:36:12,160 --> 00:36:15,729
Travis Wright: of stuff that's going on that that is still yet

609
00:36:15,730 --> 00:36:19,330
Travis Wright: to be revealed. And so man.

610
00:36:19,980 --> 00:36:23,800
Joel Comm: But, you know, you're saying that he doesn't care. Here's

611
00:36:23,800 --> 00:36:28,239
Joel Comm: what's really interesting. And I'm looking for the link to

612
00:36:28,239 --> 00:36:32,529
Joel Comm: find this, but apparently here we go. I found it.

613
00:36:33,370 --> 00:36:37,510
Joel Comm: Sam has been playing League of Legends like this is happening.

614
00:36:37,719 --> 00:36:40,330
Joel Comm: This is now. He was caught in a game. While

615
00:36:40,330 --> 00:36:43,299
Joel Comm: all of this is going on. He's playing video games,

616
00:36:43,300 --> 00:36:45,100
Joel Comm: and in between it all, he's tweeting.

617
00:36:45,730 --> 00:36:48,009
Travis Wright: Well, no worse than that. He was playing League of

618
00:36:48,010 --> 00:36:51,190
Travis Wright: Legends when he had that investor meeting with Sequoia Capital.

619
00:36:51,190 --> 00:36:54,250
Joel Comm: And they gave him that. They gave him money. Like what?

620
00:36:54,980 --> 00:36:58,270
Travis Wright: Yeah. Just not only this. Not only this, Joel. They

621
00:36:58,270 --> 00:37:02,590
Travis Wright: gave them money, but the World Economic Forum was talking

622
00:37:02,590 --> 00:37:07,300
Travis Wright: about how great FTX is as an exchange. To me,

623
00:37:07,300 --> 00:37:10,510
Travis Wright: that's the huge red flag they've since deleted that Sequoia

624
00:37:10,510 --> 00:37:15,010
Travis Wright: Capital was talking about. What a great altruistic, amazing person

625
00:37:15,010 --> 00:37:19,000
Travis Wright: SBF is and FTC's, and they've deleted that from their websites.

626
00:37:19,330 --> 00:37:22,100
Travis Wright: So they're trying to clean up this stuff. Dan Freedberg

627
00:37:22,100 --> 00:37:24,430
Travis Wright: is being deleted from the Internet. So there are some

628
00:37:24,430 --> 00:37:28,210
Travis Wright: powerful people at work behind this to probably try to

629
00:37:28,210 --> 00:37:31,000
Travis Wright: bring down crypto as much as they can because they

630
00:37:31,000 --> 00:37:33,520
Travis Wright: want to bring in, as Joel said, those central bank

631
00:37:33,520 --> 00:37:36,310
Travis Wright: digital currencies. That is the end goal. How do you

632
00:37:36,310 --> 00:37:39,310
Travis Wright: get there? You kill crypto as much as you can.

633
00:37:39,460 --> 00:37:42,700
Travis Wright: You ruin the trust for crypto and then you usher

634
00:37:42,700 --> 00:37:46,420
Travis Wright: in the solution. When that happens, create a problem. Yep.

635
00:37:46,570 --> 00:37:52,239
Travis Wright: Wait for the reaction. Offer the solution that happens. Problem. Reaction. Solution.

636
00:37:52,330 --> 00:37:55,150
Travis Wright: It happens all the time with these government players. Look what's.

637
00:37:55,150 --> 00:37:58,900
Joel Comm: Happening here. Look who they're bringing in to to resolve

638
00:37:58,900 --> 00:38:04,180
Joel Comm: the problem. That is left by Sam Bankman-fried, a Wall

639
00:38:04,180 --> 00:38:09,570
Joel Comm: Street turnaround titan. John Jay Ray. The third is taking

640
00:38:09,570 --> 00:38:12,540
Joel Comm: over and is going to guide the company through the

641
00:38:12,540 --> 00:38:15,300
Joel Comm: Chapter 11 process. And who's this guy? Trevor?

642
00:38:16,750 --> 00:38:20,109
Travis Wright: Dude, when I saw this, I said, okay, yeah, there's

643
00:38:20,110 --> 00:38:25,360
Travis Wright: clearly some shenanigans going on because the dude, this John, John, Jay, Ray,

644
00:38:25,360 --> 00:38:30,219
Travis Wright: the third, he became the CEO of Enron after Enron

645
00:38:30,219 --> 00:38:33,040
Travis Wright: got caught with their hand in the cookie jar. Right.

646
00:38:33,700 --> 00:38:35,980
Travis Wright: And then it collapsed. This dude was the dude who

647
00:38:35,980 --> 00:38:39,880
Travis Wright: wrote it down to the ashes. Who'd they bring on? John?

648
00:38:39,880 --> 00:38:44,110
Travis Wright: Jay Ray, the third to become CEO of FDX, who

649
00:38:44,290 --> 00:38:48,189
Travis Wright: is connected to this guy to bring him in? And

650
00:38:48,190 --> 00:38:50,529
Travis Wright: why would he even be willing to do it if

651
00:38:50,530 --> 00:38:53,200
Travis Wright: this was not a sort of deep state operation in

652
00:38:53,200 --> 00:38:56,410
Travis Wright: some way, Joel? There's no there's no other reason for

653
00:38:56,410 --> 00:39:00,190
Travis Wright: this to happen. Also, the other piece of news is,

654
00:39:00,489 --> 00:39:04,780
Travis Wright: you know, who's been following around SBF for the last

655
00:39:04,780 --> 00:39:05,500
Travis Wright: six months.

656
00:39:05,890 --> 00:39:06,580
Joel Comm: Who's that?

657
00:39:07,390 --> 00:39:10,030
Travis Wright: Ah, the the dude who wrote The Big Short. Michael

658
00:39:10,030 --> 00:39:14,170
Travis Wright: Lewis has been following around SBF for the last six months,

659
00:39:14,920 --> 00:39:17,710
Travis Wright: and he's going to write a book about this. He

660
00:39:17,710 --> 00:39:21,520
Travis Wright: just got his finale. He just got his finishing final

661
00:39:21,520 --> 00:39:23,040
Travis Wright: chapter of this thing. Well, it's.

662
00:39:23,080 --> 00:39:25,570
Joel Comm: Not it's not over. I mean, because there's still a

663
00:39:25,570 --> 00:39:28,060
Joel Comm: lot more to come, like what's going to happen to

664
00:39:28,060 --> 00:39:32,290
Joel Comm: Sam and to Dan and the others that are involved?

665
00:39:32,800 --> 00:39:35,650
Travis Wright: Probably nothing. Probably nothing. If there's if they're one of

666
00:39:35,650 --> 00:39:39,070
Travis Wright: the largest donors to the Democrat Party, probably nothing will

667
00:39:39,070 --> 00:39:41,259
Travis Wright: happen to them. If so, it'll be a little baby

668
00:39:41,260 --> 00:39:43,960
Travis Wright: slap on the hand. It won't be anything like Ross Ulbrich ,

669
00:39:43,960 --> 00:39:47,130
Travis Wright: the creator of Silk Road, is sitting in there for life. Right.

670
00:39:47,280 --> 00:39:50,410
Travis Wright: Anything like that? It's going to be, oh, probably a

671
00:39:50,410 --> 00:39:53,590
Travis Wright: monetary fine of some sort. Just like what happened in

672
00:39:53,590 --> 00:39:56,500
Travis Wright: the global crash of 2008. How many of those Wall

673
00:39:56,500 --> 00:39:59,740
Travis Wright: Street executives went to jail? Zero.

674
00:40:00,160 --> 00:40:05,980
Joel Comm: Are you awake? Are you awake, folks?

675
00:40:06,370 --> 00:40:09,850
Travis Wright: Joel? Joel? Joel. Crypto has nothing to do with politics.

676
00:40:10,670 --> 00:40:14,530
Travis Wright: Remember people telling us to tune in here about politics?

677
00:40:14,950 --> 00:40:18,550
Travis Wright: Tune in to hear about crypto. Hey, assholes. Guess what?

678
00:40:18,850 --> 00:40:22,719
Travis Wright: It is actually tied together intrinsically at the hip.

679
00:40:22,840 --> 00:40:25,180
Joel Comm: Did you just call our listeners assholes?

680
00:40:25,180 --> 00:40:27,810
Travis Wright: The ones who were bitching about us? Talking about politics

681
00:40:27,820 --> 00:40:30,160
Travis Wright: are assholes. They don't understand what's going on. Yeah. No,

682
00:40:30,160 --> 00:40:30,969
Travis Wright: they think a little bit.

683
00:40:31,180 --> 00:40:34,090
Joel Comm: They don't know. You're right. You're right. And it turns

684
00:40:34,090 --> 00:40:36,430
Joel Comm: some people off. But you know what? There's things happening

685
00:40:36,430 --> 00:40:39,070
Joel Comm: in the world that are a serious turnoff. And your freedom,

686
00:40:39,250 --> 00:40:43,570
Joel Comm: our freedom, our liberties are at stake. And Bitcoin does

687
00:40:43,570 --> 00:40:47,860
Joel Comm: fix this. It really does. There are some diehards that

688
00:40:47,860 --> 00:40:51,520
Joel Comm: say there's better bitcoins out there. Some say ADA is

689
00:40:51,520 --> 00:40:54,460
Joel Comm: a better bitcoin. Some say ICP is a better chain

690
00:40:56,320 --> 00:40:59,110
Joel Comm: and those are up for debate. I'm not going to

691
00:40:59,110 --> 00:41:01,330
Joel Comm: be a Bitcoin purist, but I am going to say

692
00:41:01,600 --> 00:41:05,980
Joel Comm: there are definitely shenanigans afoot and we're here. We're going

693
00:41:05,980 --> 00:41:09,820
Joel Comm: to keep covering it. We've got some great interviews coming

694
00:41:09,820 --> 00:41:11,739
Joel Comm: your way that are all going to be relevant to

695
00:41:11,739 --> 00:41:13,930
Joel Comm: the times. We need to get G. Edward Griffin back

696
00:41:13,930 --> 00:41:14,529
Joel Comm: on the show.

697
00:41:14,770 --> 00:41:16,540
Travis Wright: Yeah, I would. I would say Griffey.

698
00:41:16,580 --> 00:41:18,279
Joel Comm: I call him Griffey when he comes back.

699
00:41:19,239 --> 00:41:21,760
Travis Wright: You can call him whatever, you little gruff. He comes back.

700
00:41:21,790 --> 00:41:24,100
Travis Wright: But I want to touch base on this because this

701
00:41:24,460 --> 00:41:28,299
Travis Wright: is something that's a total conspiracy theory. And there's a

702
00:41:28,300 --> 00:41:32,080
Travis Wright: Twitter user by the name of at delete underscore shit coin.

703
00:41:32,350 --> 00:41:36,760
Travis Wright: He was the founder of Makerdao, Right. This guy basically

704
00:41:36,760 --> 00:41:40,690
Travis Wright: called out CIA and Mossad and said, whoa, a pedophile

705
00:41:40,690 --> 00:41:44,200
Travis Wright: elite is running some kind of sex trafficking blackmail ring

706
00:41:44,200 --> 00:41:46,839
Travis Wright: out of Puerto Rico on the Caribbean islands. They're going

707
00:41:46,840 --> 00:41:49,690
Travis Wright: to frame me with a laptop plant and blah, blah, blah.

708
00:41:49,719 --> 00:41:52,210
Travis Wright: They will torture me to death. And guess what? He's dead.

709
00:41:52,270 --> 00:41:55,509
Travis Wright: He's dead. Like the next day. And. And and then.

710
00:41:55,510 --> 00:41:58,540
Travis Wright: So they're saying that there's potentially some tie ins with this,

711
00:41:58,840 --> 00:42:03,549
Travis Wright: especially if you look at the Alameda Research logo. That

712
00:42:03,550 --> 00:42:07,720
Travis Wright: logo looks very suspicious to the boy lover pedophile symbol.

713
00:42:07,989 --> 00:42:11,830
Travis Wright: And then the logo. That's an SPF SBF Twitter profile

714
00:42:11,920 --> 00:42:15,370
Travis Wright: looks very similar to the girl lover pedo symbol. You

715
00:42:15,370 --> 00:42:17,920
Travis Wright: can actually go and research those on your own. I'm

716
00:42:17,920 --> 00:42:20,590
Travis Wright: not saying any of that's true. I'm not saying anything's

717
00:42:20,590 --> 00:42:24,640
Travis Wright: connected other than that dude's dead. Right. But if that's

718
00:42:24,640 --> 00:42:28,930
Travis Wright: tied to FTX and SBF and all this stuff's going

719
00:42:28,930 --> 00:42:33,310
Travis Wright: on and then the money laundering with Ukraine and then

720
00:42:33,310 --> 00:42:36,910
Travis Wright: so we've seen about $100 billion to Ukraine. Right. And

721
00:42:36,910 --> 00:42:41,319
Travis Wright: then Ukraine was investing in the attacks. And then somehow

722
00:42:41,469 --> 00:42:45,190
Travis Wright: SBF and FTX was donating that back to PACs and

723
00:42:45,190 --> 00:42:49,570
Travis Wright: to Democrat candidates. And he's been doing that since 2020.

724
00:42:49,870 --> 00:42:53,050
Travis Wright: And so I don't know how that's all related or

725
00:42:53,050 --> 00:42:55,990
Travis Wright: if there's any relation on that at all. If I die,

726
00:42:55,989 --> 00:42:59,339
Travis Wright: I did not kill myself. I am not suicidal. No,

727
00:42:59,350 --> 00:43:02,020
Travis Wright: it's weird. I'm just reporting what people are talking about

728
00:43:02,020 --> 00:43:04,000
Travis Wright: and take it for what you will.

729
00:43:04,570 --> 00:43:07,990
Joel Comm: Apparently, it's starting to get some coverage. New York Post

730
00:43:07,989 --> 00:43:14,260
Joel Comm: Cryptocurrency Billionaire Broke the Bank for Dems. Where's Gensler? Don't know.

731
00:43:15,070 --> 00:43:18,130
Joel Comm: Gensler will not do any interviews that have anything but

732
00:43:18,130 --> 00:43:21,370
Joel Comm: softball questions. He won't. He won't answer hard questions. I mean,

733
00:43:21,370 --> 00:43:23,730
Joel Comm: look at that face. Mm hmm. That facing.

734
00:43:23,739 --> 00:43:27,879
Travis Wright: Man. He's the bank, man. How great is it, Sam? Bank, man.

735
00:43:27,910 --> 00:43:34,660
Travis Wright: Like the bank man collapsed. Oh, my God. Are you serious? Oh, man.

736
00:43:34,810 --> 00:43:37,570
Joel Comm: So this is here. Here's the chart right here. Here

737
00:43:37,570 --> 00:43:39,670
Joel Comm: you go. This is the one that I was looking for. U.S.

738
00:43:39,670 --> 00:43:42,280
Joel Comm: tax dollars at work. I'm going to put this front

739
00:43:42,280 --> 00:43:47,050
Joel Comm: in center so everybody can see it. So Sam Bankman-fried

740
00:43:47,170 --> 00:43:51,130
Joel Comm: donates money to the Democrat Party. Lots of money, millions

741
00:43:51,130 --> 00:43:54,430
Joel Comm: of dollars to the party, to PACs, to candidates, the

742
00:43:54,430 --> 00:43:58,900
Joel Comm: the PACs and candidates. The party then back senile. Biden,

743
00:43:59,110 --> 00:44:02,880
Joel Comm: who gives our tax dollars in the form of military

744
00:44:02,920 --> 00:44:04,100
Joel Comm: humanitarian aid, almost.

745
00:44:04,180 --> 00:44:07,839
Travis Wright: $100 billion, not even including the billions of weapons sent.

746
00:44:08,050 --> 00:44:13,480
Joel Comm: To Ukraine. And then Ukraine uses our aid to partner

747
00:44:13,660 --> 00:44:15,460
Joel Comm: with FTX .

748
00:44:15,489 --> 00:44:18,190
Travis Wright: Now, that's just that. Right? There is just a meme.

749
00:44:18,190 --> 00:44:20,650
Travis Wright: That's just a picture. But go down the rabbit hole

750
00:44:20,650 --> 00:44:22,600
Travis Wright: on your own and you're going to be able to

751
00:44:22,600 --> 00:44:24,250
Travis Wright: find your read our show notes. You're going to be

752
00:44:24,250 --> 00:44:26,560
Travis Wright: able to find all the things that we've been talking about.

753
00:44:27,040 --> 00:44:30,759
Travis Wright: This is not over by any stretch of the imagination.

754
00:44:30,760 --> 00:44:33,100
Travis Wright: Joel thinks we're going to maybe continue to go down.

755
00:44:34,090 --> 00:44:36,160
Travis Wright: Are we going to see the bottom soon? I don't know.

756
00:44:36,160 --> 00:44:40,000
Travis Wright: We're sitting at about, what, 870 billion right now. It

757
00:44:40,000 --> 00:44:44,469
Travis Wright: was it was like almost 1.2 trillion. And now three

758
00:44:44,469 --> 00:44:48,490
Travis Wright: $400 billion have come off the market cap like that.

759
00:44:48,790 --> 00:44:50,170
Travis Wright: So what's next?

760
00:44:50,410 --> 00:44:52,360
Joel Comm: You want to see this? This is funny. Uber has

761
00:44:52,360 --> 00:44:56,380
Joel Comm: no cars. Airbnb has no real estate, FTX has no crypto.

762
00:44:56,530 --> 00:45:01,029
Joel Comm: This is the new economy. So, yes, I referenced this

763
00:45:01,030 --> 00:45:02,710
Joel Comm: in the beginning of the show and let me go

764
00:45:02,710 --> 00:45:06,759
Joel Comm: ahead and follow through on my thoughts again. So not

765
00:45:06,760 --> 00:45:10,720
Joel Comm: a financial advisor. Neither one of us our have been

766
00:45:10,719 --> 00:45:13,990
Joel Comm: ever will be. These are just our opinions and our observations.

767
00:45:13,989 --> 00:45:17,440
Joel Comm: And this is my observation. After talking to a number

768
00:45:17,440 --> 00:45:21,010
Joel Comm: of people who I consider to be smart people, I

769
00:45:21,010 --> 00:45:24,100
Joel Comm: don't feel like the bottom is in yet. I do

770
00:45:24,100 --> 00:45:28,509
Joel Comm: not feel that right now we're at the anger stage. Maybe,

771
00:45:28,540 --> 00:45:31,090
Joel Comm: maybe Trav. Can you find a link to that? The

772
00:45:31,150 --> 00:45:36,070
Joel Comm: chart that shows the emotions of investors? Because at the

773
00:45:36,070 --> 00:45:40,660
Joel Comm: very bottom of that is despair. And yes, there's a

774
00:45:40,660 --> 00:45:42,609
Joel Comm: lot of people right now that have lost a lot

775
00:45:42,610 --> 00:45:46,930
Joel Comm: of money and they're despairing personally. But as a market,

776
00:45:47,170 --> 00:45:50,860
Joel Comm: the market the crypto market is not fully despairing. I

777
00:45:50,860 --> 00:45:56,560
Joel Comm: think that happens when you have enough of the population saying,

778
00:45:56,739 --> 00:46:01,569
Joel Comm: I never want to hear the word crypto again because

779
00:46:01,570 --> 00:46:04,630
Joel Comm: they don't see a path back for that right now.

780
00:46:04,810 --> 00:46:08,140
Joel Comm: I don't think we're there. I think that there is

781
00:46:08,800 --> 00:46:12,280
Joel Comm: there is plenty of room for downside. Couple that with

782
00:46:12,280 --> 00:46:14,560
Joel Comm: two things. And the part of this I got from

783
00:46:14,560 --> 00:46:17,440
Joel Comm: speaking with Christina and some of my friends local here

784
00:46:17,440 --> 00:46:23,560
Joel Comm: in in Puerto Rico, December is traditionally a tax harvesting month, right?

785
00:46:23,560 --> 00:46:26,620
Joel Comm: There was a sell off in December because if you

786
00:46:26,620 --> 00:46:29,050
Joel Comm: need if you need to do some losses, this is

787
00:46:29,050 --> 00:46:31,180
Joel Comm: the time to do it right, because you got to

788
00:46:31,180 --> 00:46:35,759
Joel Comm: pay your taxes. But. The Fed has printed money like

789
00:46:35,760 --> 00:46:39,299
Joel Comm: crazy the past couple of years and the stock market

790
00:46:39,300 --> 00:46:44,040
Joel Comm: is propped up. Real estate has been propped up. Inflation

791
00:46:44,040 --> 00:46:49,570
Joel Comm: is crazy right now. And the conventional wisdom says this

792
00:46:49,570 --> 00:46:52,770
Joel Comm: is got to fall down at some point. And when

793
00:46:52,770 --> 00:46:57,600
Joel Comm: the stock market takes a massive fall, and I believe

794
00:46:57,600 --> 00:47:01,380
Joel Comm: it will. Crypto is not yet decoupled. Bitcoin does not

795
00:47:01,380 --> 00:47:05,370
Joel Comm: decouple from the overall markets when the markets fall. People

796
00:47:05,370 --> 00:47:09,900
Joel Comm: sell all of their holdings, right? Doesn't matter what they're holding.

797
00:47:10,050 --> 00:47:12,960
Joel Comm: The only thing that I've seen not fall with the

798
00:47:12,960 --> 00:47:17,279
Joel Comm: markets are precious metals. And so that's why I think

799
00:47:17,280 --> 00:47:20,880
Joel Comm: we've not seen the bottom. And what was once predicted, Travis,

800
00:47:20,880 --> 00:47:23,940
Joel Comm: that we could see Bitcoin down around four or 5000 again,

801
00:47:23,940 --> 00:47:27,090
Joel Comm: that I thought never that's never going to happen. I'm

802
00:47:27,090 --> 00:47:30,270
Joel Comm: beginning to think that it could touch that bottom again

803
00:47:30,270 --> 00:47:34,080
Joel Comm: before shooting up. Could be totally wrong. I don't know.

804
00:47:34,080 --> 00:47:38,129
Joel Comm: Jim Cramer says this is the bottom. And traditionally, that

805
00:47:38,130 --> 00:47:40,320
Joel Comm: is a signal to do the opposite of what he

806
00:47:40,320 --> 00:47:44,050
Joel Comm: says because he's just a paid shill on on television.

807
00:47:44,070 --> 00:47:45,000
Joel Comm: I don't know. What do you think?

808
00:47:45,270 --> 00:47:47,790
Travis Wright: Well, I would say this is that the Fibonaccis would

809
00:47:47,790 --> 00:47:50,609
Travis Wright: say that 14 is going to be the absolute low.

810
00:47:50,940 --> 00:47:54,570
Travis Wright: That's what the Benarty says. But I've also said that

811
00:47:54,570 --> 00:48:00,290
Travis Wright: the collapse that we could potentially see soon could be historic.

812
00:48:00,300 --> 00:48:03,690
Travis Wright: And if it does happen where Fiat fails and they

813
00:48:03,690 --> 00:48:07,980
Travis Wright: start ushering that cbdcs and the economy is going to

814
00:48:07,980 --> 00:48:10,710
Travis Wright: sort of collapse, then crypto is going to collapse right

815
00:48:10,710 --> 00:48:12,479
Travis Wright: along with it because people are going to be freaking out.

816
00:48:12,840 --> 00:48:16,109
Travis Wright: So is that going to happen? We don't know. But

817
00:48:16,110 --> 00:48:19,290
Travis Wright: I did find that that chart for you put it

818
00:48:19,290 --> 00:48:20,850
Travis Wright: in the show notes there for you, Joel, if you

819
00:48:20,850 --> 00:48:21,660
Travis Wright: want to pull that up.

820
00:48:22,140 --> 00:48:24,510
Joel Comm: Yeah, I want to go ahead. And I found one

821
00:48:24,510 --> 00:48:27,150
Joel Comm: as well. It's probably the same thing. Let me go

822
00:48:27,150 --> 00:48:28,919
Joel Comm: ahead and do a screen share for those of you

823
00:48:28,920 --> 00:48:33,360
Joel Comm: that have turned on to now realize that we have

824
00:48:33,360 --> 00:48:36,300
Joel Comm: a video version of this show as well. You can

825
00:48:36,300 --> 00:48:39,000
Joel Comm: find it on YouTube as well.

826
00:48:39,239 --> 00:48:41,970
Travis Wright: But we prefer you listen on the podcast because we

827
00:48:41,969 --> 00:48:44,940
Travis Wright: like the views and the listens are not views on

828
00:48:44,940 --> 00:48:46,140
Travis Wright: the podcast, but you know what I'm saying?

829
00:48:46,590 --> 00:48:50,160
Joel Comm: So, you know, here it is, the stealth phase awareness,

830
00:48:51,120 --> 00:48:56,549
Joel Comm: and then you get your bull trap. Fear, capitulation despairs

831
00:48:56,580 --> 00:48:57,779
Joel Comm: way down here.

832
00:48:58,230 --> 00:48:59,770
Travis Wright: So we're in despair now, is it?

833
00:49:00,000 --> 00:49:02,880
Joel Comm: Well, I don't I'm saying I don't think so. I

834
00:49:02,880 --> 00:49:05,730
Joel Comm: don't think we're in despair yet. I think we're getting

835
00:49:05,730 --> 00:49:08,489
Joel Comm: close to to despair.

836
00:49:08,610 --> 00:49:10,350
Travis Wright: Well, I would say people are selling. A lot of

837
00:49:10,350 --> 00:49:14,640
Travis Wright: people are selling. They're getting rid of their cryptos. Right. However,

838
00:49:14,790 --> 00:49:18,540
Travis Wright: as as faith begins to as it gets to stabilize,

839
00:49:18,540 --> 00:49:21,150
Travis Wright: as long as no other big projects fail and crypto

840
00:49:21,150 --> 00:49:27,630
Travis Wright: dot com fails, crypto dot com. Well, like if that fails,

841
00:49:28,320 --> 00:49:31,650
Travis Wright: we are we're going to be in for a long,

842
00:49:31,650 --> 00:49:33,060
Travis Wright: dark cold.

843
00:49:33,360 --> 00:49:36,210
Joel Comm: So a lot of people would say that we are

844
00:49:36,780 --> 00:49:38,790
Joel Comm: that we could be in the beginning of despair and

845
00:49:38,790 --> 00:49:42,420
Joel Comm: then to desperation and desperation as I'll never touch shares

846
00:49:42,420 --> 00:49:47,520
Joel Comm: ever again. Right. So capitulation takes place, you know, here

847
00:49:47,520 --> 00:49:51,750
Joel Comm: during the beginning of the despair cycle and then is

848
00:49:51,750 --> 00:49:55,710
Joel Comm: when we really hit the bottom. Now, I don't know,

849
00:49:55,739 --> 00:49:59,140
Joel Comm: could I be completely wrong on this? Absolutely. Could be.

850
00:49:59,160 --> 00:50:01,140
Joel Comm: Have no idea. I'm just you did.

851
00:50:01,140 --> 00:50:04,560
Travis Wright: Say an interesting point, though, Joel, about how December is

852
00:50:04,560 --> 00:50:08,190
Travis Wright: naturally the time when people sell off. Right. And then

853
00:50:08,340 --> 00:50:12,870
Travis Wright: you also have January, which is I think in February

854
00:50:12,870 --> 00:50:16,590
Travis Wright: is the Chinese New Year. So then they're typically, you know,

855
00:50:16,590 --> 00:50:19,649
Travis Wright: not doing work. And so and then we've also seen

856
00:50:19,650 --> 00:50:24,630
Travis Wright: that the bull runs typically end in December, early January,

857
00:50:24,630 --> 00:50:26,969
Travis Wright: from what we've seen in the past. Here we are

858
00:50:26,969 --> 00:50:29,779
Travis Wright: at the end of this other one. I don't know.

859
00:50:29,810 --> 00:50:31,820
Travis Wright: To be determined. We're going to keep talking about this

860
00:50:31,969 --> 00:50:35,180
Travis Wright: and our next episode will be on Wednesday. And we

861
00:50:35,180 --> 00:50:39,020
Travis Wright: will talk about what we know on Wednesday and maybe

862
00:50:39,020 --> 00:50:41,940
Travis Wright: talk about some other news that's no longer just FDX,

863
00:50:41,960 --> 00:50:43,940
Travis Wright: but we're going to if there's any new parts of

864
00:50:43,940 --> 00:50:46,790
Travis Wright: the saga as it continues, we'll share that as well.

865
00:50:46,850 --> 00:50:50,270
Joel Comm: Oh, the other interview we've got coming up is with

866
00:50:50,360 --> 00:50:55,969
Joel Comm: Alex Cody Foster. He is the writer that wrote that

867
00:50:56,270 --> 00:50:59,839
Joel Comm: that track with McAfee. If you've seen the the video

868
00:50:59,840 --> 00:51:03,080
Joel Comm: on Netflix and Netflix special yet, this is going to

869
00:51:03,080 --> 00:51:05,870
Joel Comm: be a real fascinating interview. Lots of stuff coming up

870
00:51:05,870 --> 00:51:08,479
Joel Comm: here soon, I believe. We've also got Brendan Eich from

871
00:51:08,480 --> 00:51:11,300
Joel Comm: Brave is going to be coming on the show shortly.

872
00:51:11,460 --> 00:51:14,120
Joel Comm: Nfts coming your way. A lot of you have signed

873
00:51:14,120 --> 00:51:16,280
Joel Comm: up for the bad crypto nifty club over the past

874
00:51:16,280 --> 00:51:19,790
Joel Comm: couple of weeks. If you have not yet received your

875
00:51:19,790 --> 00:51:24,290
Joel Comm: bad crypto nifty club NFT, it's something like $2 and

876
00:51:24,290 --> 00:51:27,110
Joel Comm: it's only $2 so that bots don't take them for free.

877
00:51:27,290 --> 00:51:31,340
Joel Comm: Go to bad crypto dot Uncut dot FM, it's on

878
00:51:31,340 --> 00:51:34,760
Joel Comm: Polygon Polygon so there's virtually no gas. Pick up the

879
00:51:34,760 --> 00:51:38,510
Joel Comm: membership card. It is the spinny NFT of us and

880
00:51:38,510 --> 00:51:41,480
Joel Comm: we've got a free drop that's coming out and maybe

881
00:51:41,480 --> 00:51:43,759
Joel Comm: we'll start doing those even more often now that we've

882
00:51:43,760 --> 00:51:44,810
Joel Comm: got more members in there.

883
00:51:45,020 --> 00:51:47,419
Travis Wright: Yeah, we've got more members and this is a fun

884
00:51:47,420 --> 00:51:50,120
Travis Wright: one I got. I'm already kind of piecing together either

885
00:51:50,120 --> 00:51:52,520
Travis Wright: it's the show card for this one or it's an

886
00:51:52,520 --> 00:51:56,420
Travis Wright: NFT that we give away with the fraud X, It's

887
00:51:56,420 --> 00:51:58,510
Travis Wright: almost this. You just name a fraud act Sandbagging a

888
00:51:58,530 --> 00:52:02,960
Travis Wright: fraud scam, bank man fraud. I don't know. There's all

889
00:52:02,960 --> 00:52:04,670
Travis Wright: kinds of things you can call him. I like to

890
00:52:04,670 --> 00:52:05,719
Travis Wright: call him bit.

891
00:52:06,230 --> 00:52:09,890
Joel Comm: Thanks for watching and or listening at the same time.

892
00:52:09,890 --> 00:52:12,799
Joel Comm: We appreciate it. Tell a friend to subscribe to the

893
00:52:12,800 --> 00:52:16,340
Joel Comm: Bad Crypto podcast. Give us a review. Five stars always

894
00:52:16,340 --> 00:52:19,550
Joel Comm: preferable and we will keep you posted on what's happening next.

895
00:52:19,580 --> 00:52:23,480
Joel Comm: Until then, keep your keys in your possession.

896
00:52:24,150 --> 00:52:24,420
Travis Wright: Stay.

897
00:52:39,440 --> 00:52:40,190
S3: Who's bad?

898
00:52:41,969 --> 00:52:45,600
Joel Comm: The Bad Crypto podcast is a production of Bad Crypto LLC.

899
00:52:45,780 --> 00:52:48,510
Joel Comm: The content of the show, the videos and the website

900
00:52:48,510 --> 00:52:52,590
Joel Comm: is provided for educational, informational and entertainment purposes only. It's

901
00:52:52,590 --> 00:52:56,550
Joel Comm: not intended to be and does not constitute financial investment

902
00:52:56,550 --> 00:52:59,580
Joel Comm: or trading advice of any kind. You shouldn't make any

903
00:52:59,580 --> 00:53:03,240
Joel Comm: decisions as to finances, investing, trading or anything else based

904
00:53:03,239 --> 00:53:07,770
Joel Comm: on this information without undertaking independent due diligence in consultation

905
00:53:07,770 --> 00:53:11,190
Joel Comm: with a professional financial advisor. Please understand that the trading

906
00:53:11,190 --> 00:53:16,230
Joel Comm: of Bitcoins and alternative cryptocurrencies have potential risks involved. Anyone

907
00:53:16,230 --> 00:53:18,629
Joel Comm: wishing to invest in any of the currencies or tokens

908
00:53:18,630 --> 00:53:21,990
Joel Comm: mentioned on this podcast should first seek their own independent

909
00:53:21,989 --> 00:53:23,850
Joel Comm: professional financial advisor.