What if I told you that one of the biggest companies in crypto
is backed by some of the most evil people in the entire world?
Would you believe me?
Well, you're going to find out today.
Let's get it!
Welcome to BitBoy Crypto!
My name is Ben.
Today, we're going to be taking a look at Circle and the evil backing behind it
and what that means for the future.
Now, guys, also, don't forget to subscribe to the channel.
Make sure to smash that like button, No. 1 thing you do to help out crypto adoption.
You guys remember a couple weeks ago we covered this story?
Switch to the trusted and reputable digital dollar: USDC
This is from Coinbase.
USDC is one of the most trusted and reputable digital dollars.
Convert your USDT to USDC, now with zero fees.
Is this actually the banking infrastructure trying to take over the US dollar?
And I'm going to argue the answer to that question is yes.
I think, by the end of this video, you're going to agree with that.
If you do, make sure to make a comment down below.
Now, why are they doing this?
Why convert USDT to USDC?
For free!
Well, because Circle is trying to get rid of Tether in the United States
so they can usher in USDC as the future digital dollar.
We've done a lot of videos on why we believe that is true.
So let's check out Circle.
What is Circle?
Right? You may have--
that's a circle.
Everybody knows that, right?
But this is the company Circle.
When you hear Circle,
you should hear one company.
Goldman Sachs
So, here, this is the website here.
Money at internet speed
Take the step with a Circle Account.
Talks about USDC and Euro Coin.
This is going to be the future CBDC of Europe and the European Union, most likely.
It's all right here in the open, guys.
It's all out here in the open.
They're not really trying to hide anything on the Circle website.
A one-stop-shop for managing digital currency
Interesting.
A bank.
Alright. Now, who is behind Circle?
This is the CEO.
Jeremy Allaire
Now, who is this guy?
He is the co-founder, chairman and CEO of Circle.
You can find out a lot more stuff about him.
But it says here,
Jeremy Allaire is an American-born technologist and internet entrepreneur.
He is CEO and founder of the digital currency company Circle
and chairman of the board of Brightcove.
With his brother JJ Allaire,
he co-founded Allaire Corporation in 1995.
Now, Jeremy Allaire is someone who quite frequently is on Capitol Hill
speaking, you know, on panels and committees.
Why?
Because he's very, very, very powerful.
Now, who is one of Jeremy Allaire's best friends?
Well, that's right. None other than Noam Chomsky.
Now, who is this guy?
He's an American public intellectual.
Let me tell you, that's what I want to be known as.
A public intellectual.
A linguist, philosopher, cognitive scientist, historian, social critic and political activist.
Sometimes called the father of modern linguistics,
he's also a major figure in analytic philosophy
and one of the founders of the field of cognitive science.
He is 94 years old.
Now, what is he known for really?
He's known for being a socialist!
He's a big socialist, even so much to the point
that he writes books on anarchy.
And if you guys have followed along with the--
we're not going to go too far down the political rabbit trail here
of how he's connected to president, former President Obama
and heavily connected to the Democratic Wing.
We're not going to turn this into a political video.
But you just got to know,
this is the type of guy that Jeremy Allaire hangs out with.
Okay. Alright. Now, let's go here.
Let's check this out.
This is Crunchbase.
This is where you can see certain investments.
This is the Series C for Circle.
I want to point out a couple things here.
No. 1--
this is very important.
May 28, 2015
I want you to keep that date in mind as we move forward.
Let's check this out.
Let's see who are the main backers of Circle.
We got IDG Capital.
And you also have GS Growth,
provides preferred equity and mezzanine capital to high growth and technology driven companies.
What is GS Growth?
Goldman Sachs
You can dress a pig up any way you want to dress it up.
It's still Goldman Sachs.
Then we scroll down. Let's check out who another investor here was.
That's right.
Digital Currency Group
Barry Silbert
If you didn't know, Barry Silbert got all of his money to start all of his companies
from Li Ka-Shing,
who is a big Hong Kong tycoon,
bought 25% of Vancouver back in the 90s,
huge CCP proponent,
and he's also the No. 2 in a very mysterious Chinese organization.
I'll let you guys figure out what that is.
I'm not allowed to say it out loud.
So let's move on here.
Now, remember that date?
Remember that date?
Seven years ago would have been 2015.
It doesn't have the exact date that this was published.
But I will tell you,
the summer of 2014,
we had the introduction of the BitLicense in New York.
They had one year to comply.
So you're looking at summer of 2015, this article was written.
Summer of 2015 or late spring, May 28, basically June,
that's when the first money came in to Circle from Goldman Sachs.
Picking up what I'm putting down now?
First New York BitLicense issued, who got the very first one?
That's right. None other than Circle.
Circle mobile payments company
BitLicense, the New York BitLicense framework granted its very first regulatory license
to mobile payments company Circle this week.
Circle Internet Financial Ltd. was founded by Jeremy Allaire two years ago
and is backed by Goldman Sachs Group Inc.
It is now the first startup legally allowed to offer digital currency services
in the state of New York.
So what a coincidence.
They get a big series of funding right around the time that the BitLicense comes in
and tries to turn the world of crypto into the traditional financial world.
Now, we have this.
Goldman Sachs-backed startup Circle introducing a crypto version of the US dollar
They're not even trying to hide what they're doing, folks.
This is by Kate Rooney here.
Scroll down here.
The Goldman Sachs-backed startup announced a new cryptocurrency pegged to the dollar
and a $110 million investment round led by profitable crypto mining company Bitmain,
so we got more Chinese, more CCP connection here,
which brings Circle's value near $3 billion, the company announced on Tuesday.
Jeremiah Allaire says, "It unlocks an incredible amount of power for the dollar.
It's basically a dollar that operates on blockchain."
Once again, they're not trying to hide what they're trying to do.
Like, really think about this, guys.
I want you to understand they're not saying it provides liquidity for trading.
They're literally saying it's basically a dollar operating on blockchain.
That's not what you get when people describe stablecoins.
Circle is one of the most well-funded blockchain startups,
with investors including Goldman Sachs and Baidu.
Do you know what Baidu is?
This is the Google of China.
Here we go.
Alright.
Moving on here,
we have this story.
Breaking: Stablecoin firm Circle-- this is July 2021--
to go public in $4.5 billion blank-check deal
Who's the only people out there that can write blank checks like that?
That's right. Goldman Sachs.
Under the terms of the agreement,
a new Irish holding company will acquire both Concord and Circle
and become a publicly-traded company
that's expected to be listed on the New York Stock Exchange
under the ticker CRCL.
The company said it would go public through a merger
with blank-check company Concord Acquisition Corp
in a deal valued at $4.5 billion.
And we could certainly go much deeper in this video
if we had more time to look at what these other companies are.
Earlier this year,
Circle co-founder and CEO Jeremy Allaire predicted that the company's USDC
is on track to surpass payments giant PayPal in terms of transacted dollar value.
Big difference?
PayPal is not trying to be the dollar.
Then we have this here.
Goldman Sachs-backed crypto payments group Circle--
notice.
This is what they lead with.
They lead with Goldman Sachs.
They lead with a bank.
They're not saying "Circle, backed by Goldman Sachs."
They're not hiding it.
Goldman Sachs is so far entrenched in what's going on in crypto.
We're going to be uncovering a lot more of this in the coming weeks and months.
You're going to be shocked how we've allowed a bank, traditional banking,
the exact kind of people we don't want in crypto,
to come in and take things over
in a master plan to create the digital dollar as USDC
so they control all the money.
Think about that.
Goldman Sachs is trying to become the bank of banks.
They're trying to create the digital dollar and be in control of it.
Goldman Sachs-backed crypto payments group Circle
aims to become a full-reserve national digital bank
Digital payments company Circle plans to become a full-reserve national commercial bank,
according to the announcement by CEO Jeremy Allaire on Monday.
Once again, let's think about this.
"Since Circle's founding, we have prioritized responsible financial services innovation
and constructive engagement with regulators and public authorities in the US
and around the world."
The company said it would work under the supervision of bodies
such as the Federal Reserve, the Treasury Department,
the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation,
or the FDIC.
They're already plugged in to all the big players.
Do the math here, guys.
We're allowing the fox in the hen house.
Now, there's a lot more here, guys.
And we can go into so much more about this.
The next thing we're going to cover is going to be the connections between Circle
and, that's right, BlackRock,
one of the most evil companies in the world, if not the most evil company in the world.
In fact, a lot of the really evil companies in the world think this is a very evil company.
So, really, I want you to think about that.
There is a lot of stuff tying BlackRock into this.
You guys can see here.
Through our partnership with BlackRock,
we have begun investing in the Circle Reserve Fund
to manage a portion of the USDC reserves.
We expect the reserve composition will continue to be approximately 20% cash
and 80% short duration US Treasuries.
And, of course, the biggest scam is when they convince you they're not a scam.
We invite you to learn more about the USDC reserve
and Circle's approach to building trust and transparency.
This here is exactly what there will not be with a digital dollar.
So, guys, if you like this video, this overview video of Circle,
we're going to be getting much more into this in future videos,
make sure to smash that like button and comment down below.
How does this sit with you?
Are you happy that we've allowed Goldman Sachs
to take control of one of the largest companies in crypto?
Let me know down below in the comments.
Make sure to like and subscribe.
That's all I got.
Be blessed.
BitBoy out.