How many times have we seen a bunch of smoke around an exchange
and there hasn't been fire?
Not very many, guys.
Not very many.
Listen to me now.
Swan Bitcoin
Run.
Run from Swan Bitcoin.
Where are you at MacGruber?
Of course, you would think by now that people would understand
that if your exchange has someone like this guy
who has terrible hair,
you would think you would understand, right?
My new book is called Catching Up to FTX,
lessons learned during my crusade against fraud, corruption and bad hair.
Guys, Cory Klippsten got the worst hair I've ever seen
next to Sam Bankman-Fried.
This was on March 17.
This was almost three months ago.
Do you guys know that JoinSwanForce, aka Swan Bitcoin,
the fraudulent company by Cory Klippsten who made all his money shilling ICOs,
this is true,
uses the exact same custodian for their Bitcoin that served FTX?
Ask yourself the question,
did Prime Trust keep FTX's Bitcoin safe?
Did it?
Did it, Cory?
Very interesting, isn't it?
Very interesting.
Now, you may say to yourself,
"What is Prime Trust? What's going on with Prime Trust?"
Now, I can't show you this.
I can't show you this
because Cory Klippsten blocked me from Twitter
because I've been speaking truth to him.
Now, certainly, I blocked people from Twitter because they might be annoying.
Cory Klippsten is someone who I have had a lot of dialogue with back and forth
over many, many different issues.
And I finally struck the nerve that got him to block me. Okay?
"Gary Gensler is easily Mr. Burns there."
He is.
But the fact is, Cory Klippsten, on this thread, said something about how ridiculous this is
that I would even bring this up.
Well, now, you fast forward,
and now they're transferring all of their crypto from Prime Trust.
Big shocker.
At the same time, Swan's wire transfers, as well as its custody and trading business lines,
were both operating under "degraded performance."
Why do you think that is?
"Degraded performance"
The company on its website listed a "major platform upgrade"
as being under way each day since May 30.
And here he is.
Here he is attacking Coinbase.
Here he is, guys.
Cory Klippsten, this guy would sell his children
if it thought--
if he thought he could go on a public platform and bash everything other than Bitcoin.
This guy is so desperate for attention
that he literally tried to get in on CoinDesk TV
that nobody watches
and he tries to u--
"Oh, I'm on CoinDesk TV."
Guys, they get seven viewers at one time.
That's almost double CNN though.
It is almost double CNN. That is true.
Thank you, CoinDesk.
We're going to crush CoinDesk and Cointelegraph, by the way.
I can't wait to tell you guys more about that.
The company hosted a Twitter Space about the lawsuits---
which included "#Bitcoin Not Crypto"--
God, I'm not even halfway done with this story.
On Wednesday, self-service Bitcoin withdrawals remained unaffected,
while instant buys as well as automated savings plans and automated withdrawals
were not operational.
Now, you may ask yourself the question,
"Okay, well, what's the big deal?
If automated withdrawals were not available,
but self-service Bitcoin withdrawals were,
what does that mean?"
That means to do--
think about this, guys.
Use your brains.
Your brains, you have them.
Use them.
This means all of the people that were sitting around
and had these automatic withdrawals going on
that don't pay atten--
that's the whole reason you do automatic withdrawals,
so you don't have to pay attention.
They cut all of those out
because they didn't have the funds to do it in the custodian because of Prime Trust.
And they can do self-service ones
because the people that noticed were not very many.
So, if they cut out all the automatic ones,
they still had access to enough Bitcoin to give you the custom ones.
They give you the self-service withdrawals.
Use your brain, people.
Use your brain.
Guys, we've seen this a million times so far.
I want to ask you this question.
Outside of--
and we know Gate.io is having problems, right?
But remember when Crypto.com transferred all that money to Gate.io?
- Do you remember that story, Tim? - Hm-mm.
Okay. This was right after FTX.
There was a huge transfer from Crypto.com to Gate.io
and then Gate.io used those funds to say they had a bunch of money.
And then I think they transferred it back. I can't remember what happened.
Outside of all the rumors around Crypto.com being insolvent,
and I would say KuCoin gets those rumors all the time too,
how many times have we seen a bunch of smoke around an exchange
and there hasn't been fire?
Not very many, guys.
Not very many.
Listen to me now.
Swan Bitcoin
Run.
Run from Swan Bitcoin.
If you have been using them for Bitcoin,
if you can self-service withdraw,
you do it now and you do it immediately.
Okay?
Now, I want you guys to look at this lie from Swan Bitcoin here.
I want you to look at this lie. Okay?
Here it is.
The company on its website listed "major platform upgrade"
as being under way since May 30.
This has been going on for a week. Okay?
For a week, they've been having problems.
Hmmm?
The company has moved to transfer all of its assets to two new custodians.
Guys, they weren't doing an upgrade.
They were trying to figure out how to get access to Bitcoin to give it to their customers.
Think about how dishonest this is.
Now, let's go back to Twitter here real quick
and let's look at some more of my tweets about this because, man,
I sure have loved this.
Man, I love it when my enemies fall!
And I can't wait to get into Gary Gensler's story here in a moment.
"Update on our major platform upgrade:"
Thank you for the two bucks, dickhead.
Sorry, excuse me.
Thank you for the two bucks. I'll take that.
Sorry. That was a little non-family-friendly.
I do not like to call people, you know, after Richard Nixon.
When I said that, I was saying that he loved Richard Nixon.
That's what I was saying.
"Update on our platform upgrade:"
That's--
that's for Swan Bitcoin.
That's for that guy that comes and--
- did we ban that guy from the channel? - I just did.
Okay. Thank you.
But thank you for the four bucks. Appreciate that.
"Update on our platform upgrade:
Self-service withdrawals are back up for almost all clients,"
which means that for a period of time,
you couldn't get any of your Bitcoin on Swan Bitcoin!
The No. 1 thing that they preach against,
the number--
these are the most intellectually dishonest people in the world.
The Bitcoin maximalists.
Your Cory Klippstens.
Your Swan Bitcoins.
It is disgusting that they criticize Binance.
How many problems has Binance had problems with withdrawals?
Not very many.
And if so, it's usually one asset at a time.
And they actually usually tell you beforehand.
As opposed to this one, where you find out as you go to withdraw.
"Purchasing is getting close.
Thanks for your patience.
On the other side of this is a stronger Swan."
Does a stronger Swan sound like a major platform upgrade?
No.
It means you've gone through something.
You freaking liars.