KENNEDY: HOLLY HOT DOGS,
COLLAPSE OF ONE OF WORLD’S
LARGEST CHRISTO EXCHANGED IS
-- CRYPTO IRK EXCHANGED
CALLED BIGGER THAN ENRON.
FOUNDER SAM BANKMAN-FRIED,
HE IS SUCH AN ASS HAT SUPER
DOUCHE.
HUGE DEMOCRAT DONOR HOLED UP
IN THE BAHAMAS, LAW MAKER TO
DRAG HIM IN FRONT OF
CONGRESS NEXT MONTH, TO
PLAIN HOW HIS COMPANY LOST
BILLIONS OF DOLLARS, NOW A
BUNCH OF HIGH PROFILE CELEBS
LIKE TOM BRADY, SHAQUILLE
O’NEAL ARE INCLUDED IN A
CLASS-ACTION LAWSUIT FOR
PROMOTING THE FAILED
PLATFORM IN PRIMETIME COME
MORALS, THIS YEAR SAM
BANKMAN-FRIED SPOKE WITH LIZ
CLAMAN ABOUT REGULATIONS.
HE WAS ALL FOR REGULATIONS,
WHAT A TOOL.
>> WHAT DO YOU ANTICIPATE
WILL HAPPEN.
>> I’M OPTIMISTIC OVER THE
NEXT YEAR OR SO, WE’LL SEE
SOME REALLY SUBSTANTIAL
STEPS FORWARD IN GLOBAL
RECESSION LAGLOBE --
REGULATORY.
>> I WONDER WHY HE WAS
DONATING TO PARTY IN POWER,
THAT IS WEIRD, MAYBE SO HE
WOULD HAVE A BUNCH OF
FRIENDS IN OFFICE WHEN HE
GOT IN TROUBLE, I THINK
REGULATORY ENVIRONMENT, EAT
SAND EJECTOR.
HOW DID HE SWINDLE SO MANY
PEOPLE OUT OF SO MUCH WORTH. JOINING ME NOW CHEF BITCOIN
JOINING ME NOW CHEF BITCOIN
HIS TERAYON AT COIN WEEK.
KURT WALKER JR. IN THE
HOUSE.
>> WELL, IT IS A SYMPTOM OF
A LOT OF THINGS, I THINK
THIS STARTED A FEW MONTHS
OKAY THE THERE, THE 3 AC
COMPANY COLLAPSED AND NOW
FTX.
I THINK REAL PROBLEM IS THEY
ARE KEEPING MONEY ON EACH
OTHER’S EXCHANGES AND
EVERYONE IS PROMISING EACH
OTHER 10 OR 15% YIELDING ON
HOLDING STABLE COINS AND
PLAYING A LOT OF CRAZE
GAMES, I THINK THAT WORST OF
THIS NEWS HAS NOT COME OUT
YET.
KENNEDY: WHAT DO YOU KNOW?
TELL ME.
>> WELL, JUST BASED ON
PLAYERS, SOME OTHER PEOPLE
THAT ARE IN THE BEHAMAS,
THERE IS DELTEK BANK, AND
TETHER CORPORATION, REALLY
THE LARGEST LIQUIDITY IN THE
CRYPTO ECONOMY, ARE TANGLED
UP, SAM RAN THE NUMBER TWO
LIQUIDITY EXCHANGE ON EARTH,
AND FINANCE TOOK HIM DOWN, A
LOT OF PEOPLE DON’T REALIZE
FINANCE HAS GONE OFF LINE A
COUPLE TIMES.
AND JUST TODAY WE SAW
GEMINI’S EARNED PLATFORM AND
GENESIS TRADING, LARGEST
LENDER IN THE SPACE, GENESIS
IS ONE OF THOSE COMPANIES
BEHIND ALL OF THE OTHERS DO
THE SAME THING, HEY, WE’RE
GOING TO TAKE A PAUSE, THAT
IS CONCERNING.
>> WHAT HAPPENS TO THESE
PEOPLE WHO WERE BILLIONAIRES
FOR A WHILE, INCLUDING SAM.
AND CZ AND WHAT HAPPENS TO
THEIR NET WORTH, DOES IT
EVAPORATE, WERE THEY INLATE
INSULATED?
THAT.
>> IT IS POSSIBLE.
WE THINK THEY ARE
BILLIONAIRES BUT ON PAPER,
WE DON’T KNOW THEY EVER
ACTUALLY HAD THOSE BILLIONS
OF DOLLARS, THEY WERE
PRINTING TOKENS OUT OF THIN
AIR, LIKE THE COLLAPSE AT
FTX CAME FROM COLLAPSE OF
THE FTTTOKEN, THAT IS MONEY
THEY PRINTED OUT OF NOWHERE,
IT WAS NOT WORTH ANYTHING,.
KENNEDY: DO YOU THINK WHEN
SAM WAS APPEALING TO CZ AT
FINANCE, DO YOU THINK HE
THOUGHT THAT OTHER GUY WAS
GOING TO HELP HIM, HE JUST
TURFED HIM THE SECOND HE GOT
A CHANCE.
>> IT IS HARD TO KNOW,
CZ HAS A LITTLE BIT OF THAT
GANG STER VIBE.
AND IT IS HARD TO KNOW HOW MUCH POWER HE HAS.
MUCH POWER HE HAS.
YOU MENTIONED WINKHE,KHE,
THEY ARE IN BEST POSITION,
YOU TALK ABOUT CZ HIS
COMPANY HAS BEEN IN 5
JURISDICTIONS HE IS RUNNING
THAT COMPANY OUT OF A BUNCH
OF HOTEL ROOMS HA ALWAYS
SOMEWHERE NEW, HARD TO KNOW
WHO IS IN CHARGE, ARE THEY
TRYING TO STAY ONE DOLLAR
AHEAD OF THE FEDS.
>> IT SOUNDS LIKE IT, THEY
WILL FIGURE OUT AN
ENVIRONMENT IF THEY CAN HOLD
ON TO ENOUGH MONEY TO SKIRT
THEIR WAY OUT OF
REGULATIONS.
WHAT ABOUT AVERAGE
INVESTORS?
PEOPLE WHO WERE JUST TRYING
TO GET INTO CRYPTO BECAUSE
THEY NEVER HAD A FOOT IN
FINANCE BEFORE.
>> WELL RIGHT NOW, I THINK
THEY WILL LUCK OUT GIVEN
THAT SOME BIGGEST NAMES IN
WORLD,Y IS ALSO GOT BURNED.
SOME BEST LAWYERS WILL GET
HIRED TO UNTANGLE THIS.
AND MOM AND POP ARE PROBABLY
GETTING TO BE PART OF A NICE
CLASS ACTION BUT THOSE
SUITS, YOU GET 10 CENTS ON
THE DOLLAR.
>> HOPEFULLY.
THEY ALL DONE LOSE
EVERYTHING, I KNOW TOM BRADY