1 00:00:01,280 --> 00:00:03,600 Speaker 1: My name is Lily Maddon and I'm a proud Arunda 2 00:00:03,800 --> 00:00:08,600 Speaker 1: Bunjelung Calcoltin woman from Gadighl Country. The Daily oz acknowledges 3 00:00:08,680 --> 00:00:10,880 Speaker 1: that this podcast is recorded on the lands of the 4 00:00:10,880 --> 00:00:14,440 Speaker 1: Gadighl people and pays respect to all Aboriginal and Torres, 5 00:00:14,440 --> 00:00:17,200 Speaker 1: Straight and island and nations. We pay our respects to 6 00:00:17,280 --> 00:00:20,160 Speaker 1: the first peoples of these countries, both past and present. 7 00:00:25,600 --> 00:00:27,440 Speaker 2: Breaking news tonight here and talk to us tonight. A 8 00:00:27,560 --> 00:00:31,080 Speaker 2: verdict for the fallen crypto piece Sam Bankman freed guilty 9 00:00:31,120 --> 00:00:34,800 Speaker 2: in all seven counts of fraud and conspiracy. Good morning 10 00:00:34,840 --> 00:00:37,720 Speaker 2: and welcome to the Daily os. It's Tuesday, the seventh 11 00:00:37,720 --> 00:00:41,040 Speaker 2: of November. I'm Sam, I'm Zara. Sam Bankmin Freed was 12 00:00:41,120 --> 00:00:44,279 Speaker 2: once the crypto king. Now he's facing more than one 13 00:00:44,360 --> 00:00:45,800 Speaker 2: hundred years in prison. 14 00:00:46,000 --> 00:00:49,040 Speaker 1: It's one of the most spectacular rise and fall stories 15 00:00:49,040 --> 00:00:50,760 Speaker 1: of basically anyone in recent memory. 16 00:00:50,760 --> 00:00:52,800 Speaker 2: In today's episode, we're going to look at the rise 17 00:00:52,880 --> 00:00:56,160 Speaker 2: and fall of SBF and what his conviction means for 18 00:00:56,200 --> 00:00:59,120 Speaker 2: the crypto world moving forward. But first, Arah, what is 19 00:00:59,160 --> 00:01:00,560 Speaker 2: making headlines this morning? 20 00:01:00,680 --> 00:01:04,200 Speaker 3: Well, Prime Minister Anthony Albanesi will conclude his four day 21 00:01:04,319 --> 00:01:08,640 Speaker 3: visit to China today. He met with Chinese President Chijingping 22 00:01:08,800 --> 00:01:12,560 Speaker 3: in Beijing on Monday after attending a trade fair in Shanghai. 23 00:01:13,080 --> 00:01:15,720 Speaker 3: The trip was the first by an Australian Prime minister 24 00:01:15,800 --> 00:01:19,720 Speaker 3: to China since twenty sixteen, with Albanesi describing the relationship 25 00:01:19,760 --> 00:01:21,319 Speaker 3: with China as important. 26 00:01:21,680 --> 00:01:25,560 Speaker 2: Public drunkenness will be decriminalized in Victoria from today, coinciding 27 00:01:25,640 --> 00:01:28,720 Speaker 2: with the Melbourne Cup. It comes after an announcement from 28 00:01:28,800 --> 00:01:32,240 Speaker 2: the state government back in January a health based approach, 29 00:01:32,319 --> 00:01:36,520 Speaker 2: including the implementation of sobering centres for those publicly intoxicated, 30 00:01:36,840 --> 00:01:38,560 Speaker 2: will replace criminal charges. 31 00:01:39,760 --> 00:01:42,400 Speaker 3: It is the first Tuesday of the month, which means 32 00:01:42,400 --> 00:01:45,160 Speaker 3: that the Reserve Bank of Australia will meet today with 33 00:01:45,480 --> 00:01:49,360 Speaker 3: experts tipping and interest rate rise will be announced. It 34 00:01:49,400 --> 00:01:52,320 Speaker 3: comes after the International Monetary Fund last week said that 35 00:01:52,440 --> 00:01:55,880 Speaker 3: national inflation is still too high and recommended the RBA 36 00:01:56,040 --> 00:01:59,040 Speaker 3: continued to lift rates here in Australia, as well as 37 00:01:59,080 --> 00:02:01,720 Speaker 3: further governmental mis me to limit inflation. 38 00:02:02,800 --> 00:02:05,840 Speaker 2: And today's good news Iskia Brooking has become the youngest 39 00:02:05,840 --> 00:02:08,720 Speaker 2: ever player in a league history. Brooking made a brief 40 00:02:08,720 --> 00:02:12,120 Speaker 2: appearance for the Western Sydney Wanderers aged two weeks shy 41 00:02:12,240 --> 00:02:15,240 Speaker 2: of her fifteenth birthday, that is young in a match 42 00:02:15,280 --> 00:02:21,200 Speaker 2: against the Newcastle Jets. On Sunday, pretty much exactly a 43 00:02:21,280 --> 00:02:24,240 Speaker 2: year ago, we got the news that FTX, which was 44 00:02:24,520 --> 00:02:28,639 Speaker 2: one of the world's largest cryptocurrency exchanges, had filed for bankruptcy. 45 00:02:28,840 --> 00:02:32,119 Speaker 2: And that was following a string of quiet, shocking revelations 46 00:02:32,160 --> 00:02:33,120 Speaker 2: about how it worked. 47 00:02:33,320 --> 00:02:36,240 Speaker 3: I feel like in that one sentence alone, there are 48 00:02:36,400 --> 00:02:41,720 Speaker 3: about ten acronyms. Yeah, one of those things that like 49 00:02:41,840 --> 00:02:44,160 Speaker 3: everyone assumes you know, but no one actually knows the 50 00:02:44,200 --> 00:02:44,520 Speaker 3: meaning of. 51 00:02:45,720 --> 00:02:47,840 Speaker 2: Wasn't that just crypto all up completely? 52 00:02:47,880 --> 00:02:49,920 Speaker 3: I don't think I could give you a definition anyway. 53 00:02:50,000 --> 00:02:51,440 Speaker 2: We'll let me try give you a definition. 54 00:02:51,560 --> 00:02:53,200 Speaker 3: I would know, but I want to know specifically what 55 00:02:53,200 --> 00:02:54,400 Speaker 3: a crypto exchange is. 56 00:02:54,560 --> 00:02:56,760 Speaker 2: Well, that's exactly what it sounds like. It's an online 57 00:02:56,800 --> 00:03:00,000 Speaker 2: place where crypto is exchange. And when we talk about cryptocurrent, 58 00:03:00,760 --> 00:03:04,240 Speaker 2: we're referring to a class of digital assets or digital money. 59 00:03:04,440 --> 00:03:08,680 Speaker 2: They exist entirely online. And there are plenty of different cryptocurrencies. 60 00:03:08,960 --> 00:03:11,520 Speaker 2: The most famous one that you have definitely heard of 61 00:03:11,600 --> 00:03:14,400 Speaker 2: is bitcoin, but there are many many more. You can 62 00:03:14,440 --> 00:03:16,720 Speaker 2: own them, and you can buy and sell things with them, 63 00:03:16,800 --> 00:03:21,160 Speaker 2: and crypto popularity has exploded in recent years. So advocates 64 00:03:21,200 --> 00:03:24,079 Speaker 2: say they offer protection against theft and fraud because there's 65 00:03:24,080 --> 00:03:27,320 Speaker 2: always a record of the transactions, and that it presents 66 00:03:27,320 --> 00:03:30,240 Speaker 2: a way to transact free from the control of governments 67 00:03:30,320 --> 00:03:31,360 Speaker 2: and traditional banks. 68 00:03:31,600 --> 00:03:33,360 Speaker 3: Before you go on, do you own crypto? 69 00:03:33,680 --> 00:03:35,560 Speaker 2: Do I do dabble in a little bit of drypto? 70 00:03:38,760 --> 00:03:39,240 Speaker 3: Why? 71 00:03:39,440 --> 00:03:43,280 Speaker 2: Because I am curious about the potential of different ways 72 00:03:43,320 --> 00:03:46,440 Speaker 2: of doing things. It's not very much money, and it 73 00:03:46,560 --> 00:03:49,080 Speaker 2: was a lot more than it is now, Okay, but 74 00:03:49,120 --> 00:03:51,120 Speaker 2: I think it's interesting the way that you can have 75 00:03:51,160 --> 00:03:54,160 Speaker 2: different financial models and I throw a little bit of 76 00:03:54,160 --> 00:03:54,720 Speaker 2: cash in there. 77 00:03:54,800 --> 00:03:59,440 Speaker 3: Okay, So you're a crypto bro. So what the you've 78 00:03:59,480 --> 00:04:03,840 Speaker 3: outlined why people could and would buy Cryptoah, what are 79 00:04:03,880 --> 00:04:04,760 Speaker 3: some of the downfalls? 80 00:04:04,800 --> 00:04:08,920 Speaker 2: Well, critics of cryptocurrency say that that same fact that 81 00:04:08,920 --> 00:04:12,520 Speaker 2: they're removed from governments and the watchful eye regulators makes 82 00:04:12,560 --> 00:04:15,560 Speaker 2: them riskier because they don't have the steady backing of 83 00:04:15,600 --> 00:04:17,919 Speaker 2: say the US government for the US dollar or the 84 00:04:17,960 --> 00:04:19,880 Speaker 2: Australian government for the Australian dollars. 85 00:04:19,880 --> 00:04:24,160 Speaker 3: Okay, so you've spoken there about cryptocurrencies, but in your opening, 86 00:04:24,200 --> 00:04:27,039 Speaker 3: little spill. You also referred to FTX, which is a 87 00:04:27,040 --> 00:04:28,719 Speaker 3: crypto exchange. 88 00:04:28,400 --> 00:04:32,279 Speaker 2: So why you trade those currencies? And it's like changing 89 00:04:32,440 --> 00:04:35,839 Speaker 2: US dollars to Australian dollars, but in crypto terms, you 90 00:04:35,839 --> 00:04:38,839 Speaker 2: could take your Australian dollars and trade them on FTX 91 00:04:38,880 --> 00:04:41,320 Speaker 2: for bitcoin, and then you could trade the bitcoin for 92 00:04:41,520 --> 00:04:45,120 Speaker 2: another one like ethereum, so you can move your cryptocurrencies around. 93 00:04:45,440 --> 00:04:49,840 Speaker 3: So then what are the differences between exchanging crypto and 94 00:04:50,120 --> 00:04:53,160 Speaker 3: exchanging what do you call it conventional currencies? 95 00:04:53,360 --> 00:04:56,400 Speaker 2: Well, the main difference is how the crypto exchanges operate. 96 00:04:56,800 --> 00:04:59,880 Speaker 2: And what I mean by that is the crypto exchanges 97 00:05:00,200 --> 00:05:02,599 Speaker 2: can also let you store your money in them, so 98 00:05:02,600 --> 00:05:05,000 Speaker 2: they're acting like a bit like a bank in that sense, 99 00:05:05,080 --> 00:05:07,800 Speaker 2: and it means at any one points these exchanges have 100 00:05:07,920 --> 00:05:10,800 Speaker 2: billions of dollars worth of their customers money on their 101 00:05:10,800 --> 00:05:13,640 Speaker 2: books at any one time. Now, that's not exactly how 102 00:05:13,680 --> 00:05:17,720 Speaker 2: traditional currency exchanges operate. If you're a traditional currency exchange 103 00:05:17,800 --> 00:05:20,400 Speaker 2: dealing with euros and dollars, even you know a physical 104 00:05:20,440 --> 00:05:23,120 Speaker 2: one like at an airport, you're governed by very strict 105 00:05:23,240 --> 00:05:26,400 Speaker 2: rules about what you can do with customers money. But 106 00:05:26,480 --> 00:05:30,320 Speaker 2: because the crypto industry is of course new and relatively unregulated. 107 00:05:30,600 --> 00:05:33,880 Speaker 2: That isn't the case here for crypto exchanges like FDx. 108 00:05:34,440 --> 00:05:37,840 Speaker 2: They were operating pretty much outside of the view of regulators. 109 00:05:38,200 --> 00:05:41,440 Speaker 2: Their financial records were a bit murky, and the safeguards 110 00:05:41,480 --> 00:05:44,200 Speaker 2: that would normally be there just weren't there. So we 111 00:05:44,240 --> 00:05:47,239 Speaker 2: had this situation where nobody was even really thinking about 112 00:05:47,240 --> 00:05:50,800 Speaker 2: how much of people's money FTX had on hand and 113 00:05:50,839 --> 00:05:52,640 Speaker 2: what they were actually doing with it. And then all 114 00:05:52,680 --> 00:05:55,120 Speaker 2: of this came to a head a year ago when 115 00:05:55,160 --> 00:05:57,960 Speaker 2: we found out FTX was doing some pretty dodgy stuff. 116 00:05:58,240 --> 00:06:02,279 Speaker 3: What exactly went wrong with FTX? What you said dodgy stuff, 117 00:06:02,440 --> 00:06:03,440 Speaker 3: what does that actually mean? 118 00:06:03,520 --> 00:06:06,200 Speaker 2: So FDx was taking its customers money. You remember, we've 119 00:06:06,240 --> 00:06:08,960 Speaker 2: got billions of dollars we're talking about here, and it 120 00:06:09,040 --> 00:06:12,760 Speaker 2: was siphoning it into a sister company called Alamada Research, 121 00:06:12,880 --> 00:06:16,800 Speaker 2: which was an investment company an alimaeder was investing customers 122 00:06:16,839 --> 00:06:21,640 Speaker 2: money with no transparency on really risky investments. So essentially 123 00:06:21,680 --> 00:06:23,640 Speaker 2: you can think about it as they were gambling with 124 00:06:23,760 --> 00:06:26,920 Speaker 2: the money that people had put into FTX, and what 125 00:06:26,920 --> 00:06:29,640 Speaker 2: that meant was that it had billions of dollars tied 126 00:06:29,760 --> 00:06:32,560 Speaker 2: up in a form that could just vanish if FTX 127 00:06:32,560 --> 00:06:35,200 Speaker 2: got into trouble. So what this all meant for customers 128 00:06:35,279 --> 00:06:37,800 Speaker 2: is that when they logged onto ftx, they would see 129 00:06:37,800 --> 00:06:40,120 Speaker 2: a screen with how much Bitcoin they had, how much 130 00:06:40,120 --> 00:06:43,440 Speaker 2: of other coins they had their holdings. But while their 131 00:06:43,480 --> 00:06:46,520 Speaker 2: account and that screen showed the value they had invested, 132 00:06:46,920 --> 00:06:49,760 Speaker 2: FTX was actually doing other things with that money through 133 00:06:49,760 --> 00:06:51,760 Speaker 2: the sister company Alameda. 134 00:06:51,640 --> 00:06:55,000 Speaker 3: And this presumably caught up with them eventually. Sure, how 135 00:06:55,000 --> 00:06:57,320 Speaker 3: did everything come to light about the story? 136 00:06:57,520 --> 00:07:00,919 Speaker 2: Yeah, so in November last year, we started getting media 137 00:07:01,000 --> 00:07:05,600 Speaker 2: reports from crypto publication coindesk about all of this, and 138 00:07:05,640 --> 00:07:08,680 Speaker 2: then some other major crypto players also started to voice concern. 139 00:07:08,839 --> 00:07:13,200 Speaker 4: Brian Armstrong from Coinbase had a lot of suspicions about 140 00:07:13,320 --> 00:07:15,160 Speaker 4: SBF and FTX. 141 00:07:15,160 --> 00:07:17,320 Speaker 2: He was wondering where'd they get all this money, And 142 00:07:17,360 --> 00:07:19,880 Speaker 2: in response to all of this reporting, people started to 143 00:07:19,920 --> 00:07:24,440 Speaker 2: get a bit worried. Now, Binance, which is another crypto exchange, 144 00:07:24,680 --> 00:07:28,880 Speaker 2: actually arrival of FDx. They'd invested some money into FTX, 145 00:07:29,400 --> 00:07:31,880 Speaker 2: but when they pulled their money out of FTX, that 146 00:07:32,040 --> 00:07:34,480 Speaker 2: led to widespread panic. That was a big symbol for 147 00:07:34,520 --> 00:07:37,760 Speaker 2: the market. After that happened, everybody wanted to get their 148 00:07:37,800 --> 00:07:40,560 Speaker 2: money out, but FDx, of course, having tied it up 149 00:07:40,600 --> 00:07:43,920 Speaker 2: in all of these risky investments, didn't have people's money 150 00:07:43,960 --> 00:07:46,320 Speaker 2: on hand to give back to them, so they filed 151 00:07:46,320 --> 00:07:51,200 Speaker 2: for bankruptcy. Everything totally unraveled, and ftx's thirty one year 152 00:07:51,200 --> 00:07:54,520 Speaker 2: old co founder Sam Bankman Freed, who we call SBF, 153 00:07:55,040 --> 00:07:58,000 Speaker 2: was arrested on grounds that this business structure was illegal 154 00:07:58,240 --> 00:08:00,000 Speaker 2: and that he had defrauded his customers. 155 00:08:00,000 --> 00:08:04,160 Speaker 3: The story of SBF is just so fascinating. I mean, 156 00:08:04,440 --> 00:08:07,280 Speaker 3: it does feel like a fall from grace. It feels 157 00:08:07,280 --> 00:08:09,640 Speaker 3: a bit like an Icarus flew too close to the sun. 158 00:08:10,320 --> 00:08:13,800 Speaker 3: You know, every front page had his face on it 159 00:08:13,840 --> 00:08:14,920 Speaker 3: as the next big thing. 160 00:08:15,040 --> 00:08:16,720 Speaker 2: He was on the Forbes cover, he was on. 161 00:08:16,840 --> 00:08:20,080 Speaker 3: Every cover, and like the whole tech world looked up 162 00:08:20,120 --> 00:08:23,320 Speaker 3: to this guy and turns out wasn't doing very good stuff. 163 00:08:23,360 --> 00:08:25,640 Speaker 2: Well, this was the king of crypto, and he was 164 00:08:25,680 --> 00:08:28,960 Speaker 2: a really prominent face of the entire industry, and he 165 00:08:29,000 --> 00:08:32,600 Speaker 2: actually played a big role in making crypto mainstream. You know, 166 00:08:32,840 --> 00:08:36,079 Speaker 2: FTX ran super Bowl ads with celebrities. 167 00:08:35,600 --> 00:08:37,880 Speaker 4: Like I was saying, it's FTX to see if an 168 00:08:37,880 --> 00:08:38,640 Speaker 4: easy way to get into. 169 00:08:38,559 --> 00:08:41,240 Speaker 2: Krypto and Because of that, and because of his prominence 170 00:08:41,240 --> 00:08:44,760 Speaker 2: in the space, SBF himself became something of a celebrity 171 00:08:45,120 --> 00:08:47,640 Speaker 2: and he developed this persona of almost a bit of 172 00:08:47,679 --> 00:08:51,559 Speaker 2: a boy genius. In less than five years, Sam Bakmanfried 173 00:08:51,640 --> 00:08:55,600 Speaker 2: went from buying his first bitcoin to becoming a crypto billionaire. 174 00:08:56,040 --> 00:08:57,520 Speaker 3: Many many times. 175 00:08:58,000 --> 00:09:00,240 Speaker 2: He talked a lot about the positive impact that he 176 00:09:00,280 --> 00:09:02,240 Speaker 2: wanted to have on the world. He was a major 177 00:09:02,320 --> 00:09:05,400 Speaker 2: donor to the US Democratic Party, and he actually had 178 00:09:05,400 --> 00:09:09,240 Speaker 2: been leading a push, get this, towards regulating the crypto industry. 179 00:09:09,720 --> 00:09:12,240 Speaker 2: But now, of course the tables have turned a bit, and. 180 00:09:12,200 --> 00:09:16,280 Speaker 3: So the world watched on with i'd say great attention 181 00:09:17,520 --> 00:09:22,079 Speaker 3: this trial of SBF that culminated last week with a conviction. 182 00:09:22,520 --> 00:09:24,440 Speaker 3: What came out of the trial. 183 00:09:24,360 --> 00:09:27,000 Speaker 2: Well, we heard a lot from some of SBF's former 184 00:09:27,080 --> 00:09:30,800 Speaker 2: friends and business partners who testified against him. One of 185 00:09:30,800 --> 00:09:33,199 Speaker 2: the key witnesses in this case and someone who got 186 00:09:33,240 --> 00:09:37,040 Speaker 2: a lot of media attention in the trial, was Caroline Ellison, 187 00:09:37,160 --> 00:09:40,200 Speaker 2: and she was the head of Alameda Research and in 188 00:09:40,240 --> 00:09:43,079 Speaker 2: a relationship with SBF on and off as well. Now 189 00:09:43,120 --> 00:09:46,800 Speaker 2: remember Alameda was the sister company FTX was siphoning money 190 00:09:46,840 --> 00:09:50,520 Speaker 2: into for those risky investments, and she testified that she 191 00:09:50,760 --> 00:09:55,480 Speaker 2: and others, including SBF, committed fraud, conspiracy to commit fraud, 192 00:09:55,600 --> 00:09:59,520 Speaker 2: and money laundering. She alleged that the decision to use 193 00:09:59,640 --> 00:10:05,160 Speaker 2: FDF customer funds to cover alimators bad investments was SBF's decision. 194 00:10:05,480 --> 00:10:08,760 Speaker 3: That made up part of what jury deliberated, and ultimately 195 00:10:08,800 --> 00:10:11,760 Speaker 3: they came to the conclusion that SBF was guilty, and 196 00:10:11,800 --> 00:10:13,840 Speaker 3: they found him to be guilty. I believe in five 197 00:10:13,920 --> 00:10:14,600 Speaker 3: hours or so. 198 00:10:14,640 --> 00:10:15,719 Speaker 2: It was a quick deliberation. 199 00:10:16,200 --> 00:10:18,160 Speaker 3: So what grounds has he been convicted on? 200 00:10:18,480 --> 00:10:21,960 Speaker 2: So he's been convicted on seven counts of fraud and conspiracy, 201 00:10:22,480 --> 00:10:24,360 Speaker 2: keeping in mind the fact that there were billions of 202 00:10:24,400 --> 00:10:27,840 Speaker 2: dollars at stake here, it's a very serious category of wrongdoing. 203 00:10:28,440 --> 00:10:31,240 Speaker 2: In fact, the US attorney prosecuting the case called it 204 00:10:31,280 --> 00:10:34,040 Speaker 2: one of the biggest financial frauds in American. 205 00:10:33,760 --> 00:10:37,439 Speaker 4: History, a multi billion dollar scheme designed to make him 206 00:10:37,480 --> 00:10:42,120 Speaker 4: the king of crypto. Here's the thing. The cryptocurrency industry 207 00:10:42,200 --> 00:10:45,439 Speaker 4: might be new, the players like Sam Bankman Freed might 208 00:10:45,480 --> 00:10:48,680 Speaker 4: be new, but this kind of fraud, this kind of 209 00:10:48,679 --> 00:10:52,160 Speaker 4: corruption is us all as time and we have no 210 00:10:52,240 --> 00:10:53,000 Speaker 4: patience for it. 211 00:10:53,800 --> 00:10:56,320 Speaker 2: So he'll be sentenced in March, and he could be 212 00:10:56,360 --> 00:10:59,920 Speaker 2: facing life in prison. The maximum sentence for the offenses 213 00:11:00,080 --> 00:11:02,559 Speaker 2: he charged with is well over one hundred years. 214 00:11:02,800 --> 00:11:07,640 Speaker 3: The last time we spoke of this many acronyms, SPF, 215 00:11:08,160 --> 00:11:11,760 Speaker 3: FTX and the like was when SBF was first charged. 216 00:11:11,840 --> 00:11:14,240 Speaker 3: I think that was last year. The vibe at that 217 00:11:14,360 --> 00:11:18,240 Speaker 3: time was that this could spell the end of crypto 218 00:11:18,320 --> 00:11:22,080 Speaker 3: and it could be this huge transformative time in the industry. 219 00:11:22,520 --> 00:11:23,320 Speaker 3: Is that what's happened? 220 00:11:23,559 --> 00:11:26,600 Speaker 2: Yes and no. I do think there's been increased regulation 221 00:11:26,679 --> 00:11:29,760 Speaker 2: of the space this year. I mean Binance, the other 222 00:11:29,840 --> 00:11:32,880 Speaker 2: competitor to FDx that I mentioned before. They've also been 223 00:11:32,920 --> 00:11:36,280 Speaker 2: sued by the US Financial watchdog for mismanaging their customer's 224 00:11:36,320 --> 00:11:41,040 Speaker 2: assets and manipulating trading, which sounds eerily familiar. Then there's 225 00:11:41,040 --> 00:11:43,640 Speaker 2: been Coinbase, which has been charged for operating as anne 226 00:11:43,679 --> 00:11:46,160 Speaker 2: registered broker. So we are going to hear these stories 227 00:11:46,280 --> 00:11:48,360 Speaker 2: come up more and more. But you have to remember 228 00:11:48,400 --> 00:11:51,360 Speaker 2: as well that Bitcoin, which is the biggest crypto currency 229 00:11:51,440 --> 00:11:54,400 Speaker 2: in the market, has more than doubled in price this year. 230 00:11:54,480 --> 00:11:56,880 Speaker 2: It's still off its all time highs, but still nowhere 231 00:11:56,880 --> 00:11:58,920 Speaker 2: near the glory days, but it does prove that there's 232 00:11:58,920 --> 00:12:01,840 Speaker 2: still an appetite for investment in this space, so we 233 00:12:01,880 --> 00:12:04,440 Speaker 2: could hear more stories like this in the months to come. 234 00:12:04,640 --> 00:12:06,600 Speaker 2: But I don't think this is the end of crypto 235 00:12:06,679 --> 00:12:07,400 Speaker 2: by any means. 236 00:12:09,160 --> 00:12:12,000 Speaker 3: Thanks for listening to the Daily Os today. We would 237 00:12:12,040 --> 00:12:14,679 Speaker 3: really love it if you could leave us a review 238 00:12:14,840 --> 00:12:17,760 Speaker 3: and rate us on Apple Podcast. It's a really good 239 00:12:17,760 --> 00:12:20,200 Speaker 3: way for us to get the word out, get more 240 00:12:20,200 --> 00:12:25,280 Speaker 3: people listening to this pod, sharing it, and hopefully enjoying it. 241 00:12:25,480 --> 00:12:26,960 Speaker 3: Have a great day, and we will speak to you 242 00:12:26,960 --> 00:12:27,600 Speaker 3: again tomorrow.