Hey my friends. How are you doing buddy? Yeah, I'm not gonna say that I'm good because like
I've seen a lot of shit happen regarding to crypto market this week. But like, personally, personally, I'm good. I'm not like
Yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, let me know what what's happening, please Yeah, so basically FDX went to to shit They are trying the set simple said send the CEO and founder of the
After he exposed some threat, like yesterday saying that he was like, "I'm sorry, I forgot about it." And he started to explain a little bit about what happened. He thought, he misunderstood, he thought that
That wasn't leverage, that leverage wasn't happening, like the margin call was higher, that was lower than he expected. And he ended up saying that he still trying to understand everything that's happening.
Right now the priority are customers and he ended up the thread saying like CZ1 this time not in these exact terms, but he said like CZ1 this time but like there will be another time that I
May 1. So that's it. And right now I'm seeing a lot of people trying to wish broader money from FGX, from the Bahamas account because as far as I know,
The withdrawals in Bahamas are available because there was or there is a lot of FTX employees working there.
are basically going crazy trying to do some KYC from Bahamas and with the other money from the FDX account there is even like some some
NFT I don't know how to explain but there is even some people buying NFTs from FTX so they can basically loan their money
Well, that's more than expected, really. I didn't know about the behemoth stain and how they have this disrehearsal proceed, so it's kinda crazy.
What do you think? We were first of all good morning guys and yesterday I remember we were talking about these US
the T-Ting and I look a little bit into it and seems like the FTX International can pay up some of their debt to their customers but only in Tether.
That's causing something interesting in the market because FTX right now, I think it's FTX international is like Island, you know, it's the price in there. It's different than the price out here. So
the US, the debtor money in there, it's like super valuable and not the same case on another exchange. So people can still withdraw their money like in bits, but
not like they would expect just like in tether coin you know nothing even in this either stable coin
Have you guys seen something about it?
Yeah, yeah, yeah, definitely and I even saw that I completely forgot his name, but I think it's Jason so just in some way I forgot but he ended up like doing some partnership with FDX and so that people can try to
to redeem their money like one, one to one. But as I was seeing like earlier, people are basically trying to do that and losing like more than half of the money because there is so much happening right now. There's so much sleep.
Yeah, but it's best to lose half of the audio. Have to lose all you have inside of a world full of
or like whole as FJX is, do they think they have money to really withdraw all the money of the people
Nope, and that's what's worth me because I don't trust that or either and this partner ships kind of stinks. I don't trust it so I'm
looking into a bit more but I'm scared man.
Yeah, and not not not only that I know that I already talking a lot but I keep remembering that there that there is more like FTX or US is having some problems and some like downtown regarding to withdraws Genesis trading heads
some big exposure on FTX so there is maybe something like that's going to resemble us on on Gemini on Gemini sorry and blockfolio domain block 5 is being voted in FTX as usual
And they are like they posted some notes yesterday Then basically that they will stop withdrawals from their platform and they don't advise anyone to invest their money there right now in these stuff types So there's a lot happening right now
Yeah, just for a little context, it's very strange to just in some that is a CEO of drum and being part of all these partnerships because if you guys studied the
the ecosystem is pretty similar to what Luna did and they have a stable coin called USDD that is basically the same way that USD was made and
And basically since 8 November 8, the US did just de-packed and is trading above 0.97 since then.
So it's not looking great, I would say, and it's like they're broken, trying to save the broken. So it's pretty strange. It's pretty, I would say it's not good looking, I would say.
Because of this kind of funny, but it's kind of worrying too Yeah, I'm very worried right now. I don't know if you've done your and he's one too
talk something about go ahead friends at this age, or are you talking about things that happened? So please, go ahead.
Keep talking, but I have a question. Why are you worried? I know all the motives, but I want to hear.
Yeah, so I will start and then some hooker, Victor and one can go ahead, but I'm very worried because like I don't think like we have hit the bottom yet and I'm talking prices and I'm talking like also
All the shitty that's going to happen like if look fine, declared like insolvency, it jaminite, it lost a lot of money, it will probably be just as 2008 but on crypto like
FtX was big or is big I don't know like what the legal status right now and in my opinion like if it was just FtX it was okay but I'm seeing like each data pass that are more
Companies involved that are more money involved and that I saw yesterday I don't know if that's true I'm just gonna leave it here that some some patient found in Canada had a lot of money invested in FTX and it's basically done so I let's people that was
planning to retire when they get older they're probably not going to be able to do that because FDX is basically loaded. So I'm worried about what's going to be the next few months and also because it
like the regulators right now are basically like desperate because we don't have we suppose allegedly we don't have any regulations into crypto so they are probably going to make something shitty just to have some some kind of regulation and I just remind
something that I saw yesterday that some some congressman accused Gary Gensling that's from SCC to work with them behind the behind the stage let's put it that way and basically our congressman is accusing a guy
from SEC to work with SBF in favor of FTX. So if that's true, there is probably going to have a lot of attention to crypto and not the kind of attention that we want, quite the opposite actually. That's my take.
I have a question for you guys. I think that this is very similar to what happened in 2008. I would say that we'll have some other relevant players have exposure to Valamade and FCHX.
will suffer with this with this dollar fall. I think that this will spread in the markets as such as 2008. This is just rough prediction. It's not so it's it's it's pure speculation at this point.
But in my view, we will pass happily because the type of the market of recovering really fast and going things go so fast.
Imagine if in a traditional market something in the scope and the magnitude of "lunah" happens, we will not recover in years. But in crypto in the four months before this mass tragedy,
We were healthy again. So, what do you guys think? You think that this can be disastrous but rapidly, fast or no. You don't think that you think the opposite. What do you guys think? About timing.
Can you repeat the question for please? What do I say?
Because the market of the crypto market being so fast, they think that this kind of spreading mass
That's in mass destruction of some ecosystems. Do you think that this will
fast, rightly, fast and recover, or do you think that this can last longer? I mean, I really don't know. I think it can last longer, but like not only the
normal contact, but no, I've seen a lot of people this week, people that are basically like OGs in the crypto ecosystem saying that some kind of optimistic part of them regarding crypto like just died and like I've seen at
at least 15 or 20 people saying that I respect Intercript to say that so I don't think like we will suffer the most in prices but also on people optimistic and building and creating new things into
to begin that's for me like this day the part that matters so I don't know I think like it you take some time until everyone regains trust on everything that's happening to pre-tool and if there is a time that we are going to regain trust I don't know
How about you? What do you think about him?
I think that the purpose is very resilient. Web tree in general is very resilient in what happens here. I think that there is a lot of tokenomics that is totally
unsustainable and aptity was leveraged in this insistent ability and that's what I think that
I think we'll clean some part over the market because there is some projects that doesn't
needs to to exist or to say because they have they have they are a process to problem to to our market. I don't think that crashing they them crashing it's the the best way of them going
But lollying down a little bit, losing market cap, I'm talking here about stable coins, they're really dangerous for the market and other players too. I think that we again, some
in valuing transparency mostly, valuing the file because the file is not insolvent. And yeah, I just think that it's not regulation that gains
strength here is defy because if I didn't suffer it with this yet of course we have collateral there named the in-USTT because if we as the tea goes down for example defy will suffer but
very directly and with a non-fault way it's not the five fault it's something that is spreading the market but I would say that overall
I think we'll recover rapidly. I believe they will be disastrous as such 2008 was for banks. I think we'll be for crypto banks. As you said, GMI and other players are very exposed to what another and I think they will suffer.
I think it will be something laguar in our vocabulary for the next couple of months. But that's what I think. I think it's something that the best thing about Web Tree is not
is what the liquidity of it. The best thing in our trades is the usability and we are doing some improvements on that. I could say that for the next two years we had a lot of speculation in the
market, most regulation then usability. In the last two months we had a lot of usability, a lot of partnerships, a lot of serious brands creating stuff with web3 brands. And I think that was the goldymore
moment of victory. If you had the prices was not so great, it was lower, growing up a little bit but lower. But the usability and the kind of partnerships and the kind of players entering this race, I think, was the golden moment. I would
I don't think that this has some strength even to 2008 like episode. Sorry guys, I'm not applies to the entire TV show where it's bases but go ahead.
Herb is Danny, Kuri, Jude, her future to go in and speak a little bit about it. If you want to, I have a question for you guys. I have a question of how guys
use ability of an FT of a tree before that before this events of this week and probably next weeks also like how you think that crypto environment will be
suggest like FIFA have NFTs, Starbucks, and Polygon, Matter and Polygon in minting NFTs of these programs. So things like that usability. How do you guys think that will affect?
Yeah, so I'm just gonna start the thing that I found some tweets saying that SBF basically paid more than 26 million Indonesians to people that are on SBF.
So I don't think we'll hit the bottom yet. But man, to answer you, my friend, I don't know. Like, I think like as a whole, we have a system we're so far, we follow it up in certain, like,
companies are already building solutions on blockchain and etc. But I think the thing that we've struck the most are people that aren't into crypto yet. Like I had a friend called me yesterday saying, "Man, can we
explained to me what's happened and why it happened, why FTX basically bloated and it was a trend from financial markets, traditional financial markets, so he understands a lot of leverage, like margin calls, but he was like, "Man, how
it exactly happened. Like how can one of the biggest exchanges in the world basically disappear with more than billions of money from one day to another. So I think the people that aren't into crypto yet
we'll probably get more sketch code that Fypto isn't just a Ponzi screen that I NFTs I just some some digit not not gonna say some some some features on the internet and like that blockchain is just another way that I don't know like the financial market
markets are structured, so I think we are going to get some tough times ahead to explain to people like that crypto isn't just some policy scheme but also something that we are trying to make to change the world.
I don't know if Danny Am is our dude wants to step ahead and see the opening here. But please. I'm not about saying something because I just have discovered that someone created a
This is the first step to to a celebrity so congrats on that
I would love to have people creating fakes of my profile. And you don't know the name of the profile. It's a living off trade.
I want to see that. I want to see that. Oh boy. I just said just posted on my Twitter right now.
Go ahead then. I think you have good takes on that.
I'm just gonna say that blockchain fixed this so okay Yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah#
Hi, my friend. I'm-- I-- I'll come to your space. Glad to be here. Good morning, everyone.
So Danny, you have some comment on that or you don't have? Feel free if you don't have. No, I don't have right now. I'm kind of desperate. I'm sorry. No problem. Hermes, dude, you have something to add on
that and gives ability versus speculation. I would love to also hear what Hermes have to say regarding the next few months of crypto. Do you think that the worst is already behind us or not?
Yeah, so that's for you, Victor. Yeah, yeah. There was a lot of noise here. I was trying to put my youngest kid on a leash before answering. Well, you asked about usability versus speculation.
In what aspect are you referring to usability? The ability to buy things in real life and utility as a few words and things like that. What kind of usability?
Are you referring to? I'm saying about adoption, about having people using Web2Tech, Web2related features. In other parts, speculation as tokens and leverage and people doing
trading and stuff like that. This will, this definitely will be affected, prices will be affected by what happens with FTX and what things will happen with other players. But do you think this will affect usability? People using web features or people
or brand implementing some web3 stuff in the ecosystem. - Well, besides like gift cards and some online stores accepting crypto and things like that, I haven't seen like true usability
Yet, at least in my surroundings, I don't know any use case that is remarkable so far. But I believe that the greatest utility or usability that
talking have right now in the speculative side to be honest, to be honest to ourselves. Everything is as if you look close enough. So I believe that we are
We are the very beginning of it yet we still at the very beginning of it. And eventually Crypto will become the mainstream, you know, the only money. And like Paper Money will be something like...
museums and so the regulation is our biggest enemy but it's also what will open the doors for us to become the mainstream and then we will have like the kind of usability that will
be the game changer because I mean to buy t-shirts and exchange your tokens for another tokens that not necessarily will be you will be able to use it. IRL I don't think that this is like what we need.
We need to use our tokens whenever we please as easy as any transaction that we made with real money. And I'm not seeing that close to it yet. But we certainly get there.
And once we do that, we'll be the end of this golden age that we are living because then we will be like the money that we already have. That's how I see it. I know it's sad. I hope you guys are not sad before I said.
Do you have any take on that? Yes, disability versus speculation. Okay, about versus speculation, I don't know, but usability for me, like in my universe,
you bring the sensation of like you belong to some place, to some community, to some
some breathing of being, I don't know. And well, I mean, in my project, in my NFT project, what I want to do using usability is like, okay, you have one and a
So now you can, you have like free access to all the events. For example, the event we spoke about secret yet.
That's a good way to stop faking ferds actually. Emma was talking about clothes.
And yeah, I mean, I don't think I have...
have much to put on this. I'm dope on coffee right now. No, no, no, no, no. Yeah, I think my thing is that as speculation will have had I put a role in crypto
to increase liquidity. I think that usability will not bring so much money to the market, but I think that we will add the things that we need to be in the sustainable markets.
and any sort. So thank you guys for those for Diego, Shida, for the guys that are here. Now we are not ending this space because you entered. We just end at 11.
Brazil at the time and we started at 10.30. So thank you guys for talking with us in this jam. If you find we talked a little bit of everything, things that worry us, things that
makes us have a little bit and then you have a finger count on them. Oh yes. Congratulations then. It's it's it's it's it's. Go ahead you. You said no I for you like speculation is not a reason to too much valuation.
some project or token? Is what you said? Yeah, I think that speculation came bring some projects too much money. Money that they don't deserve yet. Okay, and I've in the fan rate yet.
Okay, I think I got it wrong. I thought he was saying that was talking about like usability brings not too much speculation. That's not what he said. Yeah, I think that no, I think that they can go hand in hand, but overall I think that I speak relation.
When you have too much speculation, you don't have room to have too much responsibility. If I have motives to create disability, if you have money entering... I got it. I just got him so here, so I'm out of the problem.
No problem at all. Yeah guys, this is just my take. It's not that I mean that I'm right or anything. Hermes, do you want to speak? No, I was just saying that I'm very interested to engage with the Danny Ming fake account. I wanted to be my best friend.
I will be very close to it. I will invite this person for events, I will mark this person publications that I like. We will be close friends. That's why I want to share. You are best friend in the internet. That's actually Web Tree best friend.
part, whatever. What this character will be. So now we are going to work as a day trader as well. Whatever it takes to be close enough to this brightened person. Amazing decision. Amazing decision.
Thank you guys. You are funny. I like working with you guys because it's every day or 40 days. Thank you guys. Have a good day and good morning. See you. GMGM, Mr. Fajian.