Episode 932 of Bitcoin And . . . is LIVE!
Topics for today:
https://www.cnbc.com/2024/08/02/morgan-stanley-wealth-advisors-bitcoin-etfs.html
https://bitcoinmagazine.com/business/retail-investors-can-now-invest-in-bitcoin-startups-with-thunder-funder
https://cointelegraph.com/news/futu-hk-bitcoin-bonuses-august-promotion
https://www.coindesk.com/markets/2024/08/02/ark-invest-sold-148m-of-coinbase-shares-thursday-ahead-of-the-exchanges-earnings-report/
https://decrypt.co/242827/microstrategy-reports-q2-loss-11-4-million-more-bitcoin-in-reserve
https://www.cnbc.com/futures-and-commodities/
https://www.nobsbitcoin.com/gm-2024-08-02/
Topics for today:
- Morgan Stanley Advisor's Begin Pitching Bitcoin
- Retail Can Now Invest in Bitcoin Startups
- Hong Kong Broker Offers Bitcoin Based Rewards
- Microstrategy Buys More Bitcoin
https://www.cnbc.com/2024/08/02/morgan-stanley-wealth-advisors-bitcoin-etfs.html
https://bitcoinmagazine.com/business/retail-investors-can-now-invest-in-bitcoin-startups-with-thunder-funder
https://cointelegraph.com/news/futu-hk-bitcoin-bonuses-august-promotion
https://www.coindesk.com/markets/2024/08/02/ark-invest-sold-148m-of-coinbase-shares-thursday-ahead-of-the-exchanges-earnings-report/
https://decrypt.co/242827/microstrategy-reports-q2-loss-11-4-million-more-bitcoin-in-reserve
https://www.cnbc.com/futures-and-commodities/
https://www.nobsbitcoin.com/gm-2024-08-02/
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It's 8:23 AM in the mountains on the second day of August 2024. This is episode what? It's gonna be 932 of Bitcoin, and we got some major news out of Morgan Stanley dropping today. We got some some Cointelegraph stuff we're gonna do. What else we got? We got, retail investors, can now invest in Bitcoin startups. We'll talk about that one. Cathy Wood seems to have sold some things, Coinbase. So we'll we'll do all of it. I promise. Alright. So in back of me, I'm in a garage, a 2 story garage in the house, you know, in Colorado as I've said before. And me and my sister who is also up here with the the family decided that we were going to clean out the garage.
Holy crap! We're I mean, we've got a roll off dumpster and we filled it to the rim yesterday. We're talking about somewhere between 15 and 20 yards of crap that is collected in this garage and we are still not done. We threw the majority of it out yesterday. Still got some work today, but not before I bring you the news. And here it is: Morgan Stanley has told its army of wealth advisors that they can now pitch Bitcoin ETFs in a first for a major wall street firm. Hugh Sun is writing this one for CNBC of all things. I can't believe none of the other, Bitcoin Magazine stuff like that has picked this up. Of course, it is breaking, so this just happened this morning.
Morgan Stanley on Friday, has told its army of financial advisors that it will soon allow them to offer Bitcoin ETFs to some clients, a first among major Wall Street Banks CNBC has learned. The firm's 15 1,000 or so financial advisors can now solicit eligible clients to purchase shares of 2 exchange traded Bitcoin funds starting Wednesday, according to people with knowledge of the policy. Those funds are BlackRock's Ishares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund. The move from Morgan Stanley, one of the world's largest wealth management firms, is the latest sign of the adoption of Bitcoin by mainstream finance.
In January, the SEC approved applications for 11 spot Bitcoin ETFs, heralding the arrival of an investment vehicle for Bitcoin that's easier to access, cheaper to own and more readily traded. Bitcoin has weathered market selloffs, the spectacular collapse of crypto exchange FTX, and criticism from the most established figures in finance including JPMorgan Chase CEO Jamie Dimon and Berkshire forbidding their financial advisors from pitching them and only allowing trades if clients actively sought out the product. Goldman Sachs, JPMorgan, Bank of America, and Wells Fargo still follow that policy according to spokespeople at all 4 banks.
Morgan Stanley made the move in response to demand from clients in an attempt to follow an evolving marketplace for digital assets, said the people who declined to be identified speaking about the bank's internal policies. The bank is still striking a note of caution, however. In the rollout, only clients with a net worth of at least $1,500,000 and an aggressive risk tolerance and the desire to make speculative investments are suitable for Bitcoin ETF solicitation, said the people. The investments are for taxable brokerage accounts, not retirement accounts, they added. I find that kinda interesting. The bank will monitor clients' crypto holdings to make sure they don't end up with excessive exposure to the volatile asset class according to the sources.
The only crypto investments approved for purchase at Morgan Stanley are that pair of Bitcoin ETFs and private funds from Galaxy and FS NYDIG that the bank made available starting in 2021. Morgan Stanley is watching how the market for newly approved ether, oh, god, ETFs develop and hasn't committed to whether it would provide access to those, the people said. So, dude, wow holy shit. Dow tumbles 700 points. Holy crap. Oh and Nasdaq has entered correction. Sorry guys, but it's breaking news. Since I'm on the CNBC website. Of course, it's gonna catch my attention when it comes up in a great big red banner. So a 700 point tumble, after the weak jobs report apparently. Wow. That's just a shame. Especially after we read some really bullish news out of Morgan Stanley for Bitcoin.
Yeah. Bitcoin not tumbling 700 points. But you never know. I mean, this shit it's been a it's been a really weird week for Bitcoin because first you got Trump. He gives it a boost, says it's gonna be a strategic reserve. And then 3 days later, the United States government moves a whole bunch of Bitcoin out of its wallet. For the first time in a long time. It looked like it went over to exchanges, but I and it looked like it was being sold. I can't confirm that. And I made that mistake too, by the way. So let's have a little lesson in how not to be stupid on Noster like I was. I was looking at a great big red candle, didn't like it, and then somebody said somewhere that, ARCIM Intelligence had shown movement of Bitcoin.
I confirmed that I was able to go to the US government wallet on ARCIM Intelligence and yes, indeed. They did exactly that. But I started assuming that they were selling. And that does not appear to be the case. So, in the future I'm gonna try to remind myself before I before I say a statement like the United States government started selling Bitcoin I I was really remiss and and I didn't do my job and for that I apologize. So I actually have to go find out if they were selling. And I can't find it doesn't look like they actually sold, but still 3 days, I mean this bitcoin could have been moved at any time and they waited like 2 or 3 days after the Trump speech at the Bitcoin conference where he announced that the strategic Bitcoin reserve for the treasury and they moved it. How is this not market manipulation?
And and from what I understand, market manipulation by large powers is illegal. If Morgan Stanley was caught short shorting something, you know but putting news out into the world, you know showing signals to the world that you know to move the world in a direction that they wanted them to move on a particular asset or asset class, those they generally get fined heavy. Is the US government just able to do anything it wants to do? Because that market manipulation is illegal, and clearly that was a market manipulation. And I wonder I wonder if it's not even more coordinated than that because as the Bitcoin price dropped from damn near $70,000 to where we at, 65 something like that. Yeah, see I think we're just over 65.
And we dipped all the way down to 6200 no 62,200 and now we've come back up a little bit. Kind of makes me wonder with this Morgan Stanley announcement, this morning if this whole thing wasn't coordinated so people could get their hands on some cheap ass bitcoin. I'm just I I that's the way my mind works. I'm a little conspiratorial. You guys know that. But we've got some other news. This time it's out of Bitcoin Magazine written by Vivek Sin. Retail investors can now invest in Bitcoin startups with Thunder Thunder. It's a horrible name. Lightning Ventures, a VC firm in the Bitcoin space, launched Thunderfunder, a regulation crowdfunding portal at the Bitcoin 2024 conference last week. The platform aims to democratize early stage investing in Bitcoin and open source startups by allowing both accredited and non accredited investors to participate.
Thunderfunder leverages the Reg CF framework, which permits companies to raise up to $5,000,000 annually from the public. For the first time, this opens up largely inaccessible startup investment opportunities to retail investors interested in the booming Bitcoin and open source sectors. Lightning Ventures has invested over $6,800,000 in nearly 40 bitcoin companies. With this new platform, we're activating a new group of retail investors, says Mike Jarmusz, CEO of Thunderfunder. The founding team comprises CTO Uncle Rockstar, an early contributor to BTC Pay Server, and COO Vivek Patel, who previously worked at Prime Trust.
Max Kiser and Swan Bitcoin CEO Corey Klipstens, El Zonte Capital invested in the Lightning Venture's $500,000 pre seed round to launch the platform alongside Brad Mills and Chris Hunter. With Thunderfunder, regular investors can now directly fund innovative Bitcoin projects that were previously only accessible to accredited and institutional investors. This could accelerate development and progress in the Bitcoin and open source ecosystem. Yes, and it can also facilitate some scams. Alright? I'm not saying I don't like it. This is good. But any system that can be gained will be gained and I've never seen a system that cannot be gained.
So just watch out. And I mean and I'm not talking about Corey Clipston or Uncle Rockstar. I mean, Uncle Rockstar, I'd, you know, I've never met him personally, but I have talked to him on several occasions and I've been, you know, following him and he's been following me for years. So I think he's a good Joe. I've never seen him do anything out of hand or out of sorts or anything like that. And certainly nothing, you know, underhanded. So I'm not saying that. I'm just saying that the people that go up to Thunderfunder and say, here's our business. We want you know, the people that go to your platform to invest in our company. Those are the people that I just automatically start. It's not that I don't automatically mistrust them.
It's just be careful out there. And I'm not a fan of accredited investors like that whole Morgan Stanley thing. You can't you can't be a part of any Bitcoin investment with your Morgan Stanley guy unless you have $1,500,000 and has demonstrated to that financial advisor in the past that you're okay with risk. You can't. And I mean, there's not a lot of people walking around with $1,500,000. There's there's just not. There's a lot more than there were but there's still just not a whole lot of them. So that accredited investor situation, it used to be there just for the just for protection so that people that didn't know what the hell that they were doing didn't get into massive amounts of trouble. But that's been bastardized to make sure that well the rich get richer, poor get poorer.
But the caveat here, just watch your ass with whatever project you that comes up on Thunder Thunder. It better have some well known people with some street cred. Okay? Otherwise, do not put your money into some kind of Bitcoin startup and you've never heard the people's names. They should have some street cred. Okay? That's all that's what I will be looking for if I choose to use this situation. Hot off the back of the Morgan Stanley news, a Hong Kong broker offers new customer deposit bonuses in Bitcoin. Amaka Nawa Chaka, and I'm sure I butchered that, sorry, but from Cointelegraph writing: Hong Kong's largest online brokerage Futu Securities International is offering new customer deposit bonuses in Bitcoin as part of a promotional offer for individuals to open accounts. According to information on the company's website from August 1st to August 31st, 2020 4, new customers who meet specific criteria can benefit from various rewards including substantial Bitcoin bonuses.
This initiative is designed to attract new investors and provide them with various incentives to start their trading journey. The promotional offer is open to individuals that are 18 years or older who have never held a FutooHK brokerage account and have not deposited funds with FutooHK before August 1, 2024. Additionally, participants must hold a Hong Kong resident identity card or an overseas passport. The rewards for new deposits are tiered, offering various options for participants. The first tier reward requires a minimum deposit of 10,000 Hong Kong dollars by, August 31, 2024 and an average daily asset balance of $10,000 or Hong Kong dollars for 60 days.
Let's see here. Participants can choose from up to 3 different rewards. A share of Alibaba, a 400 Hong Kong dollar supermarket voucher, a 600 Hong Kong dollar in Bitcoin, the rewards will be issued or credited to the account within 10 trading days 60 days after the event ends. However, the second tier requires, a minimum deposit of HK80,000, a daily asset average balance of $80,000 for 60 days. Participants can choose between the share of NVIDIA and a thousand Hong Kong dollars in Bitcoin, which is about a $128 US.
Futu Securities launched digital currency trading services regulated by Hong Kong Security Commission on August 1st. This service includes spot trading pairs like bitcoin and allows customers to directly purchase digital currencies using Hong Kong dollars and US dollars at real time exchange rates. In July, Hong Kong introduced its novel stablecoin regulatory framework garnering broad approval from stakeholders following a 2 month public consultation process that concluded in February. So that's that's kind of big news too. You know Hong Kong was was going to be Bitcoin was kinda had kinda been persona non grata for a while.
And now they've been changing their tunes where, you know, it's gonna be okay. And now it looks like major brokerage services over in Hong Kong are going to start, well, probably doing what Morgan Stanley's gonna do. And And yet, well, I'm probably going to get over into the uh-uh bitcoin price and it's gonna be a red candle. I I honestly don't know how this works. I don't know how much more bullish news can actually hit the wires. And I'm not sure who the hell's selling. It's just it's beyond my imagining. Again, that's why I'm screaming market manipulation by the United States Government and probably in cahoots with the UK. Now, ARK Invest has sold $14,800,000 of Coinbase shares on Thursday ahead of the exchanges earning report.
Cathie Woods' investment company, Ark, sold $14,800,000 worth of crypto exchange Coinbase shares on Thursday, the biggest single day divestment since May 7th ahead of the exchanges Q2 earnings announcement. The divestment means that the company sold more Coinbase shares on the 1st day of August than in the previous 2 months combined. It sold $2,880,000 worth of the shares in June and 7,900,000 in July after the market closed. Coinbase reported Q2 revenue that beat Wall Street analyst expectations. Profit however, came in lower than the consensus. The exchanges shares, which fell 5.2 percent to $212 during regular trading, rallied briefly after the report and were little changed in premarket trading.
Ark sold a total of 69,069 coin shares across its next generation internet ETF and Fintech Innovation ETF. The company's share sales are often made out of necessity to keep within its own exposure guidelines that avoids one holding account or one holding accounting for more than 10% of an ETF's total weighting. Coin accounts for 6.74 percent of, the next generation internet ETF and 9.69 of the Fintech Innovation ETF. So it looks like this was a technical sale and not a get out of town we're all gonna die kind of sale. And again, I've made this mistake before where I'm like, oh, they hate Coinbase just like I hate Coinbase.
Kathy Woods doesn't give a shit. I guarantee it. She does not care. She just wants the money or she wants to have a targeted balance and it looks like that's what this entire thing was all about. Okay, ladies and gentlemen, it is now time for, the markets. Let's get back to where I was. Oil has taken a fucking beating today. It's it's just savage out there. $73.49 a barrel. That is down 3.7%. Brent also 3.27 percent to the downside. Weigh coming in at $76.92. Natural gases, as usual, doing the reverse. It's up 1.68 percent to just over $2 per 1,000 cubic feet.
Gasoline dropping 3.34 percent to $2.31 a gallon. And I honestly don't know why because last I heard we're sending a battle group over to the Mediterranean Sea because Israel attacked a whole bunch of countries or something like that. I I the now the I did not I what I'm about to say, I did not check all that much. That Israel attacked 4 countries within 2 days. That part, I don't know if that's true. I know there was like they nailed some Hamas guy or something like that or Hezbollah leader. And but it was so bad that the United States is sending some kind of battle group over to the Med.
And that's that's not a good sign, ladies and gentlemen. But with the metals are actually having a good day as you might expect. Gold is up 0.6% to $24.95.40. Silver is up a half a point. Platinum sideways. Copper is up 0.78%, while palladium is down just over one point. Ag, eww. Yeah. Ag is mostly in the green this morning. Biggest winner today is soybeans. 0.98% to the upside. Biggest loser is sugar. 2.16 to the downside. Livestock is getting freaking hammered too, guys. And I didn't I'm not just finding that shit out now. I heard yesterday that live cattle prices were just getting slaughtered and they're not lying. Live cattle is down 1.73%.
Lean hogs down 1.2 percent and feeder cattle down damn near 3%. My heart goes out to all the ranchers out there. The Dow, like I've been saying, is down 1.83% to 39,773. So it's dipped under 40,000 for the first time in a long time after losing 741 points. Holy smokes. S and P is down 2.38%. It's even worse. Nasdaq also down 2.88%. And the S and P, just I mean, there's blood in the streets, ladies and gentlemen. It's down 3 and a half full points. Oh my god. And you know what else is down? Donations. I I don't know what to do. I don't know what to do with with the with these people. I'm like I'm either losing listeners or we're in the summer doldrums because, my last show only got like, I don't know, 6, was it 6,000 sats.
But thank god for people like Vake, who boosted 1500 sats and says I have a strategic ice cream reserve in my freezer. And Pies, thank you for the 420. He says, thank you, sir. And I say, no, thank you. God's death with 237 says, thank you, sir. That gap had me tripping. I was yelling at my phone. Yeah. I had a bad gap. I and with my setup, I've got this RodeCaster Pro 2 and it's great. I love it. Right? But I've got like a I've also got like a a laptop. But the laptop I actually bought up here in Southwest Colorado after I was trying to get one to get it set up with a couple of editing tools that I normally use so that crap like that won't happen.
Nah, nah, I the the everybody was sold out of the one computer that I really, really wanted. I went to like 2 different Walmarts. Nope, uh-uh. No, they're just they're just gone. There's like the I guess it's like the most popular computer ever. Luckily, I found one up here but unluckily it does not have my raft of editing tools so gaps happen. Okay? This is 100% live. All mistakes are out there in the wind to twist. Now from Decrypt, and I guess this is where I should say welcome to part 2 of the news that you can use. Decrypt, MicroStrategy reports a second quarter loss boosts Bitcoin holdings by $11,000,000 Jason Nelson for Decrypt.
American software software firm MicroStrategy released its 2nd quarter earnings report on Thursday, noting a net loss of $102,600,000. Jesus. The company co founded by Bitcoin maximalist, Michael Saylor reported total revenues of a $111,400,000 as well as a loss of 200,000,000 in the Q2 of 2024, compared to a loss of 26,700,000 at the same time last year. The company also noted its subscription services business saw revenues of 24,100,000, a 21% year over year increase. Now in terms of its digital asset investments, MicroStrategy said that it has acquired an additional 169 BTC in July for $11,400,000 bringing its total Bitcoin holdings to 226,500 BTC worth around $14,700,000,000 that's billion with a b according to MicroStrategy.
Each bitcoin was purchased at an average price of 36,821 since the beginning of Q2 2024. MicroStrategy said it had acquired 12,222 Bitcoin for $805,200,000 quote, we remain laser focused on our Bitcoin development strategy and intend to continue the achieved wait hold on. Developments See us live baby alive. We remain laser focused on our Bitcoin development strategy and intend to continue to achieve positive BTC yield, which is a new KPI that we are introducing targeting 4.8 no 4 to 8% annually over the next 3 years, MicroStrategy President and CEO, Phong Li said in a statement.
MicroStrategy also cited the recent Bitcoin 2024 Conference as a positive sign, quote, we're extremely optimistic with the improved understanding of Bitcoin and the increasing support for the ecosystem from bipartisan politicians and institutions on display at the Bitcoin 2024 Conference in Nashville, Lee said. According to the MicroStrategy report, in the Q2, MicroStrategy raised 800,000,000 by issuing 2.25 percent convertible notes due 20, 32 and redeemed $650,000,000 worth of notes that are due 2025. That's the end of the article, I think. No. No. It's not. Pawn.
Quote. Through our use of intelligent leverage, we have again achieved a BTC yield of 12.2% year to date, which we believe demonstrates significant Bitcoin accretion to shareholders, MicroStrategy Chief Financial Officer Andrew Kang said. Also, or already, the largest institutional holder of Bitcoin, MicroStrategy bought another 11,931 BTC worth around 786,000,000 at the time. In June, after issuing $700,000,000 in unsecured senior convertible notes to buy more Bitcoin earlier that month. MicroStrategy's stock price closed Thursday at $1511 but is trading after hours at 1570 as of writing, which is up 3.85% according to Yahoo Finance.
MicroStrategy did not respond to a request for comment. Yeah. They obviously they don't have to. Everybody knows what they're doing. What I found the most fascinating in this in this bit here is this achieving positive BTC yield, which is a new KPI that we are introducing, targeting 4 to 8% annually over each of the next 3 years. That is that's interesting. That I I I'm going to have to look much deeper into that one. Because that's that could go that could I don't know. I'm just saying that that could go from a marketing standpoint that could be like promising people the moon.
But I think that this is more internal. I I don't think that they're like they're I I don't think that they're gonna come out and say, hey, invest in micro strategy because our BTC policy produces a 4 to 8% yield. So here's what you can expect. If I start hearing language like that, I'm gonna get really freaking nervous about Michael Saylor and what they're doing over at MicroStrategy. So watch these guys like a hawk. Just don't believe everything that they, you know, say. I I like Mike. I do. But that, I don't know. I just don't want them to say, hey, we've got a new product. Here's the yield. Right? So because the question we should always ask ourselves if anybody says yield is where does the yield come from? That's the first question and quite possibly the only question. But I'm gonna do something a little bit different here. No bullshit Bitcoin has been a place that I go to get, short snippets of news about, you know, software updates or anything like that. And they've kind of changed things up. And I just wanna make a statement to the guys at Know Bullshit Bitcoin. I love you, first of all. You've always been there. It's one of the bright spots of my day heading over to nobsbitcoin.com.
But I'm I like the way that y'all did it better previously than what you guys are doing with the warning reports. And I I don't know, I just liked seeing all the little separate stories with and now it's just kind of like all in one single report. And, honestly, I know I should mind my own business, but I if anybody from no BS Bitcoin is listening, that's just my 2¢. Now, what here's the way that they've been doing it lately. They have a daily good morning bitcoin. And so I'm just gonna read you what they've got in here and then you can also be the judge, as to whether you liked the old way or this way. Good morning, Bitcoin. Friday, August 2nd, 2024.
Good morning. Bitcoin is your daily news roundup. Delivering key stories and project updates, new releases, guides, research, etcetera, etcetera. It's been almost a month of good morning Bitcoin daily reports and we hope you've enjoyed them as much as we have. We're still fine tuning the format and structure, but it feels like this has legs and is heading somewhere. A massive shout out to xsilentg for sending us 160,000 satoshis earlier this week and to everyone else because every sat counts and your support fuels our mission. So what's new?
Virtual assets increasingly used by terrorist groups claims the FATF or the FATF. Fat fucks. The latest report from the Financial Action Task Force claims to shed light on virtual assets and virtual asset service providers, asserting that virtual assets are increasingly being used by terrorist groups. Yet, this bombshell comes devoid of proper citations or verifiable data leaving those who are following the surveillance narratives to question its very credibility, reports the rage. It is unbelievable that an organization with such low standards is being taken seriously at all, never mind allowed to guide the implementation of AMLCFT around the world, said investigative journalist Lola Leitz.
Wow. You know, I'm so I'm tired of the fat of 2. And somehow or another, we keep giving these people credibility. I don't know why. We give the World Bank credibility, we give that fat fuck from the BIS credibility, we give the World Bank, the UN, I mean all these none of these people care about any of us. And I don't know why people still think that they do. I still get in fights regularly with people who actually believe, actually believe that the FADF is there to protect us. That the that the, BIS is there to protect us by protecting massive central banks. It's not. It is a method of control.
And the walls are closing in, ladies and gentlemen. But maybe, you know, I don't know, maybe we'll get out of it. Continuing with the morning report out of no bs bitcoin.com, MicroStrategy now holds 226,500 BTC. I already read you that report from a different location, so I'm gonna skip. Greenridge generation to HODL self mined Bitcoin. New York headquartered power generator and Bitcoin miner said that it will retain self mined Bitcoin in order to increase its Bitcoin holdings. The company has also entered into a $20,000,000 common stock purchase agreement.
Okay. Brink welcomes Marco De Leon or De Leon, however you pronounce it. Bitcoin development nonprofit Brink announced that developer Marco De Leon has joined Brink to contribute to Bitcoin Core's fuzz testing initiatives under the mentorship of Nicholas Gog. Together they will build out Bitcoin Core's fuzz testing infrastructure. And for you guys that don't know what fuzz testing is, it's it's sort of a way to automate, sending a computer program nonsense. Non stop. Like bad characters, like if you're supposed to enter in numbers and somebody's fuzz testing would be to enter in letters. How do you handle, you know, what kind of errors are going to be thrown? How are you handling your errors or generally error handling?
That's what fuzz testing is. And apparently, it's an art. The more that I've read about it, the more I've discovered that it's not just it's not just about, you know, entering in unexpected data to a software program or system or network. Alright. Moving on. Bitcoin miner CleanSpark has acquired 2 75 Megawatt Mining Sites in Cheyenne, Wyoming, formerly operated by Mine 1 for $18,750,000. This acquisition comes after the Biden administration halted Mine 1's operations due to national security concerns regarding Chinese ownership near a US air force base reporting from the minor MAG.
Over in Europe, the EU global leader in regulations has clarified the markets and crypto asset rules. The European, European Securities and Markets Authority issued a report advising firms on how to engage with overseas companies to ensure MICA compliance. I was just giving the finger. The guidance states that unauthorized firms cannot provide services to EU clients unless those clients reach out first. Okay. So everybody lost their mind over Micah, and it's bad. It's just bad regulation altogether. We'll get into that. But what if I all what have I always said about being a United States citizen? Nobody wants to do business with you.
You are a liability. I am a I'm a US citizen. I'm a liability for anybody that is not another United States citizen and does not live in the country, inside the confines of the United States. That's because of regulatory bullshit. Right? This this Mica thing is actually less onerous than what we have going on here in the United States as far as other, you know, overseas companies or overseas, service providers being able to provide goods and services to EU citizens. Because at least, at least an EU citizen has the choice to reach out to a foreign company or a foreign national and start doing business and it's going to be okay. Whereas in the United States, we can't even do that.
If you're doing business and somehow or another the US government doesn't like that or wants a massive piece of it and if you don't give it to them they're going to float a bunch of fucking warships over to your front door and it's going to be a mess. So the EU right now it actually seems a little bit less onerous of a situation as far as digital assets than the United States. But, you know, whatever. It's just the whole thing is ridiculous. That is the end of their report. No. You know what? It's actually not. They go into a whole bunch of updates, but we're not going to get into that. I want to keep these shows short. So I will see you on what?
The other side.
It's 8:23 AM in the mountains on the second day of August 2024. This is episode what? It's gonna be 932 of Bitcoin, and we got some major news out of Morgan Stanley dropping today. We got some some Cointelegraph stuff we're gonna do. What else we got? We got, retail investors, can now invest in Bitcoin startups. We'll talk about that one. Cathy Wood seems to have sold some things, Coinbase. So we'll we'll do all of it. I promise. Alright. So in back of me, I'm in a garage, a 2 story garage in the house, you know, in Colorado as I've said before. And me and my sister who is also up here with the the family decided that we were going to clean out the garage.
Holy crap! We're I mean, we've got a roll off dumpster and we filled it to the rim yesterday. We're talking about somewhere between 15 and 20 yards of crap that is collected in this garage and we are still not done. We threw the majority of it out yesterday. Still got some work today, but not before I bring you the news. And here it is: Morgan Stanley has told its army of wealth advisors that they can now pitch Bitcoin ETFs in a first for a major wall street firm. Hugh Sun is writing this one for CNBC of all things. I can't believe none of the other, Bitcoin Magazine stuff like that has picked this up. Of course, it is breaking, so this just happened this morning.
Morgan Stanley on Friday, has told its army of financial advisors that it will soon allow them to offer Bitcoin ETFs to some clients, a first among major Wall Street Banks CNBC has learned. The firm's 15 1,000 or so financial advisors can now solicit eligible clients to purchase shares of 2 exchange traded Bitcoin funds starting Wednesday, according to people with knowledge of the policy. Those funds are BlackRock's Ishares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund. The move from Morgan Stanley, one of the world's largest wealth management firms, is the latest sign of the adoption of Bitcoin by mainstream finance.
In January, the SEC approved applications for 11 spot Bitcoin ETFs, heralding the arrival of an investment vehicle for Bitcoin that's easier to access, cheaper to own and more readily traded. Bitcoin has weathered market selloffs, the spectacular collapse of crypto exchange FTX, and criticism from the most established figures in finance including JPMorgan Chase CEO Jamie Dimon and Berkshire forbidding their financial advisors from pitching them and only allowing trades if clients actively sought out the product. Goldman Sachs, JPMorgan, Bank of America, and Wells Fargo still follow that policy according to spokespeople at all 4 banks.
Morgan Stanley made the move in response to demand from clients in an attempt to follow an evolving marketplace for digital assets, said the people who declined to be identified speaking about the bank's internal policies. The bank is still striking a note of caution, however. In the rollout, only clients with a net worth of at least $1,500,000 and an aggressive risk tolerance and the desire to make speculative investments are suitable for Bitcoin ETF solicitation, said the people. The investments are for taxable brokerage accounts, not retirement accounts, they added. I find that kinda interesting. The bank will monitor clients' crypto holdings to make sure they don't end up with excessive exposure to the volatile asset class according to the sources.
The only crypto investments approved for purchase at Morgan Stanley are that pair of Bitcoin ETFs and private funds from Galaxy and FS NYDIG that the bank made available starting in 2021. Morgan Stanley is watching how the market for newly approved ether, oh, god, ETFs develop and hasn't committed to whether it would provide access to those, the people said. So, dude, wow holy shit. Dow tumbles 700 points. Holy crap. Oh and Nasdaq has entered correction. Sorry guys, but it's breaking news. Since I'm on the CNBC website. Of course, it's gonna catch my attention when it comes up in a great big red banner. So a 700 point tumble, after the weak jobs report apparently. Wow. That's just a shame. Especially after we read some really bullish news out of Morgan Stanley for Bitcoin.
Yeah. Bitcoin not tumbling 700 points. But you never know. I mean, this shit it's been a it's been a really weird week for Bitcoin because first you got Trump. He gives it a boost, says it's gonna be a strategic reserve. And then 3 days later, the United States government moves a whole bunch of Bitcoin out of its wallet. For the first time in a long time. It looked like it went over to exchanges, but I and it looked like it was being sold. I can't confirm that. And I made that mistake too, by the way. So let's have a little lesson in how not to be stupid on Noster like I was. I was looking at a great big red candle, didn't like it, and then somebody said somewhere that, ARCIM Intelligence had shown movement of Bitcoin.
I confirmed that I was able to go to the US government wallet on ARCIM Intelligence and yes, indeed. They did exactly that. But I started assuming that they were selling. And that does not appear to be the case. So, in the future I'm gonna try to remind myself before I before I say a statement like the United States government started selling Bitcoin I I was really remiss and and I didn't do my job and for that I apologize. So I actually have to go find out if they were selling. And I can't find it doesn't look like they actually sold, but still 3 days, I mean this bitcoin could have been moved at any time and they waited like 2 or 3 days after the Trump speech at the Bitcoin conference where he announced that the strategic Bitcoin reserve for the treasury and they moved it. How is this not market manipulation?
And and from what I understand, market manipulation by large powers is illegal. If Morgan Stanley was caught short shorting something, you know but putting news out into the world, you know showing signals to the world that you know to move the world in a direction that they wanted them to move on a particular asset or asset class, those they generally get fined heavy. Is the US government just able to do anything it wants to do? Because that market manipulation is illegal, and clearly that was a market manipulation. And I wonder I wonder if it's not even more coordinated than that because as the Bitcoin price dropped from damn near $70,000 to where we at, 65 something like that. Yeah, see I think we're just over 65.
And we dipped all the way down to 6200 no 62,200 and now we've come back up a little bit. Kind of makes me wonder with this Morgan Stanley announcement, this morning if this whole thing wasn't coordinated so people could get their hands on some cheap ass bitcoin. I'm just I I that's the way my mind works. I'm a little conspiratorial. You guys know that. But we've got some other news. This time it's out of Bitcoin Magazine written by Vivek Sin. Retail investors can now invest in Bitcoin startups with Thunder Thunder. It's a horrible name. Lightning Ventures, a VC firm in the Bitcoin space, launched Thunderfunder, a regulation crowdfunding portal at the Bitcoin 2024 conference last week. The platform aims to democratize early stage investing in Bitcoin and open source startups by allowing both accredited and non accredited investors to participate.
Thunderfunder leverages the Reg CF framework, which permits companies to raise up to $5,000,000 annually from the public. For the first time, this opens up largely inaccessible startup investment opportunities to retail investors interested in the booming Bitcoin and open source sectors. Lightning Ventures has invested over $6,800,000 in nearly 40 bitcoin companies. With this new platform, we're activating a new group of retail investors, says Mike Jarmusz, CEO of Thunderfunder. The founding team comprises CTO Uncle Rockstar, an early contributor to BTC Pay Server, and COO Vivek Patel, who previously worked at Prime Trust.
Max Kiser and Swan Bitcoin CEO Corey Klipstens, El Zonte Capital invested in the Lightning Venture's $500,000 pre seed round to launch the platform alongside Brad Mills and Chris Hunter. With Thunderfunder, regular investors can now directly fund innovative Bitcoin projects that were previously only accessible to accredited and institutional investors. This could accelerate development and progress in the Bitcoin and open source ecosystem. Yes, and it can also facilitate some scams. Alright? I'm not saying I don't like it. This is good. But any system that can be gained will be gained and I've never seen a system that cannot be gained.
So just watch out. And I mean and I'm not talking about Corey Clipston or Uncle Rockstar. I mean, Uncle Rockstar, I'd, you know, I've never met him personally, but I have talked to him on several occasions and I've been, you know, following him and he's been following me for years. So I think he's a good Joe. I've never seen him do anything out of hand or out of sorts or anything like that. And certainly nothing, you know, underhanded. So I'm not saying that. I'm just saying that the people that go up to Thunderfunder and say, here's our business. We want you know, the people that go to your platform to invest in our company. Those are the people that I just automatically start. It's not that I don't automatically mistrust them.
It's just be careful out there. And I'm not a fan of accredited investors like that whole Morgan Stanley thing. You can't you can't be a part of any Bitcoin investment with your Morgan Stanley guy unless you have $1,500,000 and has demonstrated to that financial advisor in the past that you're okay with risk. You can't. And I mean, there's not a lot of people walking around with $1,500,000. There's there's just not. There's a lot more than there were but there's still just not a whole lot of them. So that accredited investor situation, it used to be there just for the just for protection so that people that didn't know what the hell that they were doing didn't get into massive amounts of trouble. But that's been bastardized to make sure that well the rich get richer, poor get poorer.
But the caveat here, just watch your ass with whatever project you that comes up on Thunder Thunder. It better have some well known people with some street cred. Okay? Otherwise, do not put your money into some kind of Bitcoin startup and you've never heard the people's names. They should have some street cred. Okay? That's all that's what I will be looking for if I choose to use this situation. Hot off the back of the Morgan Stanley news, a Hong Kong broker offers new customer deposit bonuses in Bitcoin. Amaka Nawa Chaka, and I'm sure I butchered that, sorry, but from Cointelegraph writing: Hong Kong's largest online brokerage Futu Securities International is offering new customer deposit bonuses in Bitcoin as part of a promotional offer for individuals to open accounts. According to information on the company's website from August 1st to August 31st, 2020 4, new customers who meet specific criteria can benefit from various rewards including substantial Bitcoin bonuses.
This initiative is designed to attract new investors and provide them with various incentives to start their trading journey. The promotional offer is open to individuals that are 18 years or older who have never held a FutooHK brokerage account and have not deposited funds with FutooHK before August 1, 2024. Additionally, participants must hold a Hong Kong resident identity card or an overseas passport. The rewards for new deposits are tiered, offering various options for participants. The first tier reward requires a minimum deposit of 10,000 Hong Kong dollars by, August 31, 2024 and an average daily asset balance of $10,000 or Hong Kong dollars for 60 days.
Let's see here. Participants can choose from up to 3 different rewards. A share of Alibaba, a 400 Hong Kong dollar supermarket voucher, a 600 Hong Kong dollar in Bitcoin, the rewards will be issued or credited to the account within 10 trading days 60 days after the event ends. However, the second tier requires, a minimum deposit of HK80,000, a daily asset average balance of $80,000 for 60 days. Participants can choose between the share of NVIDIA and a thousand Hong Kong dollars in Bitcoin, which is about a $128 US.
Futu Securities launched digital currency trading services regulated by Hong Kong Security Commission on August 1st. This service includes spot trading pairs like bitcoin and allows customers to directly purchase digital currencies using Hong Kong dollars and US dollars at real time exchange rates. In July, Hong Kong introduced its novel stablecoin regulatory framework garnering broad approval from stakeholders following a 2 month public consultation process that concluded in February. So that's that's kind of big news too. You know Hong Kong was was going to be Bitcoin was kinda had kinda been persona non grata for a while.
And now they've been changing their tunes where, you know, it's gonna be okay. And now it looks like major brokerage services over in Hong Kong are going to start, well, probably doing what Morgan Stanley's gonna do. And And yet, well, I'm probably going to get over into the uh-uh bitcoin price and it's gonna be a red candle. I I honestly don't know how this works. I don't know how much more bullish news can actually hit the wires. And I'm not sure who the hell's selling. It's just it's beyond my imagining. Again, that's why I'm screaming market manipulation by the United States Government and probably in cahoots with the UK. Now, ARK Invest has sold $14,800,000 of Coinbase shares on Thursday ahead of the exchanges earning report.
Cathie Woods' investment company, Ark, sold $14,800,000 worth of crypto exchange Coinbase shares on Thursday, the biggest single day divestment since May 7th ahead of the exchanges Q2 earnings announcement. The divestment means that the company sold more Coinbase shares on the 1st day of August than in the previous 2 months combined. It sold $2,880,000 worth of the shares in June and 7,900,000 in July after the market closed. Coinbase reported Q2 revenue that beat Wall Street analyst expectations. Profit however, came in lower than the consensus. The exchanges shares, which fell 5.2 percent to $212 during regular trading, rallied briefly after the report and were little changed in premarket trading.
Ark sold a total of 69,069 coin shares across its next generation internet ETF and Fintech Innovation ETF. The company's share sales are often made out of necessity to keep within its own exposure guidelines that avoids one holding account or one holding accounting for more than 10% of an ETF's total weighting. Coin accounts for 6.74 percent of, the next generation internet ETF and 9.69 of the Fintech Innovation ETF. So it looks like this was a technical sale and not a get out of town we're all gonna die kind of sale. And again, I've made this mistake before where I'm like, oh, they hate Coinbase just like I hate Coinbase.
Kathy Woods doesn't give a shit. I guarantee it. She does not care. She just wants the money or she wants to have a targeted balance and it looks like that's what this entire thing was all about. Okay, ladies and gentlemen, it is now time for, the markets. Let's get back to where I was. Oil has taken a fucking beating today. It's it's just savage out there. $73.49 a barrel. That is down 3.7%. Brent also 3.27 percent to the downside. Weigh coming in at $76.92. Natural gases, as usual, doing the reverse. It's up 1.68 percent to just over $2 per 1,000 cubic feet.
Gasoline dropping 3.34 percent to $2.31 a gallon. And I honestly don't know why because last I heard we're sending a battle group over to the Mediterranean Sea because Israel attacked a whole bunch of countries or something like that. I I the now the I did not I what I'm about to say, I did not check all that much. That Israel attacked 4 countries within 2 days. That part, I don't know if that's true. I know there was like they nailed some Hamas guy or something like that or Hezbollah leader. And but it was so bad that the United States is sending some kind of battle group over to the Med.
And that's that's not a good sign, ladies and gentlemen. But with the metals are actually having a good day as you might expect. Gold is up 0.6% to $24.95.40. Silver is up a half a point. Platinum sideways. Copper is up 0.78%, while palladium is down just over one point. Ag, eww. Yeah. Ag is mostly in the green this morning. Biggest winner today is soybeans. 0.98% to the upside. Biggest loser is sugar. 2.16 to the downside. Livestock is getting freaking hammered too, guys. And I didn't I'm not just finding that shit out now. I heard yesterday that live cattle prices were just getting slaughtered and they're not lying. Live cattle is down 1.73%.
Lean hogs down 1.2 percent and feeder cattle down damn near 3%. My heart goes out to all the ranchers out there. The Dow, like I've been saying, is down 1.83% to 39,773. So it's dipped under 40,000 for the first time in a long time after losing 741 points. Holy smokes. S and P is down 2.38%. It's even worse. Nasdaq also down 2.88%. And the S and P, just I mean, there's blood in the streets, ladies and gentlemen. It's down 3 and a half full points. Oh my god. And you know what else is down? Donations. I I don't know what to do. I don't know what to do with with the with these people. I'm like I'm either losing listeners or we're in the summer doldrums because, my last show only got like, I don't know, 6, was it 6,000 sats.
But thank god for people like Vake, who boosted 1500 sats and says I have a strategic ice cream reserve in my freezer. And Pies, thank you for the 420. He says, thank you, sir. And I say, no, thank you. God's death with 237 says, thank you, sir. That gap had me tripping. I was yelling at my phone. Yeah. I had a bad gap. I and with my setup, I've got this RodeCaster Pro 2 and it's great. I love it. Right? But I've got like a I've also got like a a laptop. But the laptop I actually bought up here in Southwest Colorado after I was trying to get one to get it set up with a couple of editing tools that I normally use so that crap like that won't happen.
Nah, nah, I the the everybody was sold out of the one computer that I really, really wanted. I went to like 2 different Walmarts. Nope, uh-uh. No, they're just they're just gone. There's like the I guess it's like the most popular computer ever. Luckily, I found one up here but unluckily it does not have my raft of editing tools so gaps happen. Okay? This is 100% live. All mistakes are out there in the wind to twist. Now from Decrypt, and I guess this is where I should say welcome to part 2 of the news that you can use. Decrypt, MicroStrategy reports a second quarter loss boosts Bitcoin holdings by $11,000,000 Jason Nelson for Decrypt.
American software software firm MicroStrategy released its 2nd quarter earnings report on Thursday, noting a net loss of $102,600,000. Jesus. The company co founded by Bitcoin maximalist, Michael Saylor reported total revenues of a $111,400,000 as well as a loss of 200,000,000 in the Q2 of 2024, compared to a loss of 26,700,000 at the same time last year. The company also noted its subscription services business saw revenues of 24,100,000, a 21% year over year increase. Now in terms of its digital asset investments, MicroStrategy said that it has acquired an additional 169 BTC in July for $11,400,000 bringing its total Bitcoin holdings to 226,500 BTC worth around $14,700,000,000 that's billion with a b according to MicroStrategy.
Each bitcoin was purchased at an average price of 36,821 since the beginning of Q2 2024. MicroStrategy said it had acquired 12,222 Bitcoin for $805,200,000 quote, we remain laser focused on our Bitcoin development strategy and intend to continue the achieved wait hold on. Developments See us live baby alive. We remain laser focused on our Bitcoin development strategy and intend to continue to achieve positive BTC yield, which is a new KPI that we are introducing targeting 4.8 no 4 to 8% annually over the next 3 years, MicroStrategy President and CEO, Phong Li said in a statement.
MicroStrategy also cited the recent Bitcoin 2024 Conference as a positive sign, quote, we're extremely optimistic with the improved understanding of Bitcoin and the increasing support for the ecosystem from bipartisan politicians and institutions on display at the Bitcoin 2024 Conference in Nashville, Lee said. According to the MicroStrategy report, in the Q2, MicroStrategy raised 800,000,000 by issuing 2.25 percent convertible notes due 20, 32 and redeemed $650,000,000 worth of notes that are due 2025. That's the end of the article, I think. No. No. It's not. Pawn.
Quote. Through our use of intelligent leverage, we have again achieved a BTC yield of 12.2% year to date, which we believe demonstrates significant Bitcoin accretion to shareholders, MicroStrategy Chief Financial Officer Andrew Kang said. Also, or already, the largest institutional holder of Bitcoin, MicroStrategy bought another 11,931 BTC worth around 786,000,000 at the time. In June, after issuing $700,000,000 in unsecured senior convertible notes to buy more Bitcoin earlier that month. MicroStrategy's stock price closed Thursday at $1511 but is trading after hours at 1570 as of writing, which is up 3.85% according to Yahoo Finance.
MicroStrategy did not respond to a request for comment. Yeah. They obviously they don't have to. Everybody knows what they're doing. What I found the most fascinating in this in this bit here is this achieving positive BTC yield, which is a new KPI that we are introducing, targeting 4 to 8% annually over each of the next 3 years. That is that's interesting. That I I I'm going to have to look much deeper into that one. Because that's that could go that could I don't know. I'm just saying that that could go from a marketing standpoint that could be like promising people the moon.
But I think that this is more internal. I I don't think that they're like they're I I don't think that they're gonna come out and say, hey, invest in micro strategy because our BTC policy produces a 4 to 8% yield. So here's what you can expect. If I start hearing language like that, I'm gonna get really freaking nervous about Michael Saylor and what they're doing over at MicroStrategy. So watch these guys like a hawk. Just don't believe everything that they, you know, say. I I like Mike. I do. But that, I don't know. I just don't want them to say, hey, we've got a new product. Here's the yield. Right? So because the question we should always ask ourselves if anybody says yield is where does the yield come from? That's the first question and quite possibly the only question. But I'm gonna do something a little bit different here. No bullshit Bitcoin has been a place that I go to get, short snippets of news about, you know, software updates or anything like that. And they've kind of changed things up. And I just wanna make a statement to the guys at Know Bullshit Bitcoin. I love you, first of all. You've always been there. It's one of the bright spots of my day heading over to nobsbitcoin.com.
But I'm I like the way that y'all did it better previously than what you guys are doing with the warning reports. And I I don't know, I just liked seeing all the little separate stories with and now it's just kind of like all in one single report. And, honestly, I know I should mind my own business, but I if anybody from no BS Bitcoin is listening, that's just my 2¢. Now, what here's the way that they've been doing it lately. They have a daily good morning bitcoin. And so I'm just gonna read you what they've got in here and then you can also be the judge, as to whether you liked the old way or this way. Good morning, Bitcoin. Friday, August 2nd, 2024.
Good morning. Bitcoin is your daily news roundup. Delivering key stories and project updates, new releases, guides, research, etcetera, etcetera. It's been almost a month of good morning Bitcoin daily reports and we hope you've enjoyed them as much as we have. We're still fine tuning the format and structure, but it feels like this has legs and is heading somewhere. A massive shout out to xsilentg for sending us 160,000 satoshis earlier this week and to everyone else because every sat counts and your support fuels our mission. So what's new?
Virtual assets increasingly used by terrorist groups claims the FATF or the FATF. Fat fucks. The latest report from the Financial Action Task Force claims to shed light on virtual assets and virtual asset service providers, asserting that virtual assets are increasingly being used by terrorist groups. Yet, this bombshell comes devoid of proper citations or verifiable data leaving those who are following the surveillance narratives to question its very credibility, reports the rage. It is unbelievable that an organization with such low standards is being taken seriously at all, never mind allowed to guide the implementation of AMLCFT around the world, said investigative journalist Lola Leitz.
Wow. You know, I'm so I'm tired of the fat of 2. And somehow or another, we keep giving these people credibility. I don't know why. We give the World Bank credibility, we give that fat fuck from the BIS credibility, we give the World Bank, the UN, I mean all these none of these people care about any of us. And I don't know why people still think that they do. I still get in fights regularly with people who actually believe, actually believe that the FADF is there to protect us. That the that the, BIS is there to protect us by protecting massive central banks. It's not. It is a method of control.
And the walls are closing in, ladies and gentlemen. But maybe, you know, I don't know, maybe we'll get out of it. Continuing with the morning report out of no bs bitcoin.com, MicroStrategy now holds 226,500 BTC. I already read you that report from a different location, so I'm gonna skip. Greenridge generation to HODL self mined Bitcoin. New York headquartered power generator and Bitcoin miner said that it will retain self mined Bitcoin in order to increase its Bitcoin holdings. The company has also entered into a $20,000,000 common stock purchase agreement.
Okay. Brink welcomes Marco De Leon or De Leon, however you pronounce it. Bitcoin development nonprofit Brink announced that developer Marco De Leon has joined Brink to contribute to Bitcoin Core's fuzz testing initiatives under the mentorship of Nicholas Gog. Together they will build out Bitcoin Core's fuzz testing infrastructure. And for you guys that don't know what fuzz testing is, it's it's sort of a way to automate, sending a computer program nonsense. Non stop. Like bad characters, like if you're supposed to enter in numbers and somebody's fuzz testing would be to enter in letters. How do you handle, you know, what kind of errors are going to be thrown? How are you handling your errors or generally error handling?
That's what fuzz testing is. And apparently, it's an art. The more that I've read about it, the more I've discovered that it's not just it's not just about, you know, entering in unexpected data to a software program or system or network. Alright. Moving on. Bitcoin miner CleanSpark has acquired 2 75 Megawatt Mining Sites in Cheyenne, Wyoming, formerly operated by Mine 1 for $18,750,000. This acquisition comes after the Biden administration halted Mine 1's operations due to national security concerns regarding Chinese ownership near a US air force base reporting from the minor MAG.
Over in Europe, the EU global leader in regulations has clarified the markets and crypto asset rules. The European, European Securities and Markets Authority issued a report advising firms on how to engage with overseas companies to ensure MICA compliance. I was just giving the finger. The guidance states that unauthorized firms cannot provide services to EU clients unless those clients reach out first. Okay. So everybody lost their mind over Micah, and it's bad. It's just bad regulation altogether. We'll get into that. But what if I all what have I always said about being a United States citizen? Nobody wants to do business with you.
You are a liability. I am a I'm a US citizen. I'm a liability for anybody that is not another United States citizen and does not live in the country, inside the confines of the United States. That's because of regulatory bullshit. Right? This this Mica thing is actually less onerous than what we have going on here in the United States as far as other, you know, overseas companies or overseas, service providers being able to provide goods and services to EU citizens. Because at least, at least an EU citizen has the choice to reach out to a foreign company or a foreign national and start doing business and it's going to be okay. Whereas in the United States, we can't even do that.
If you're doing business and somehow or another the US government doesn't like that or wants a massive piece of it and if you don't give it to them they're going to float a bunch of fucking warships over to your front door and it's going to be a mess. So the EU right now it actually seems a little bit less onerous of a situation as far as digital assets than the United States. But, you know, whatever. It's just the whole thing is ridiculous. That is the end of their report. No. You know what? It's actually not. They go into a whole bunch of updates, but we're not going to get into that. I want to keep these shows short. So I will see you on what?
The other side.
Introduction and Episode Overview
Personal Anecdote: Cleaning the Garage
Market Reactions and Breaking News
Market Updates and Analysis
