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Hello this is Matt on the moon Lambo Channel what happened this morning is Absolutely outrageous and wild I'm sure Most of you have heard by now but I'm Going to do a full breakdown for you Here but uh coin Telegraph which is uh Allegedly a reputable uh crypto media Outlet reported Falsely that black Rock's spot Bitcoin ETF was approved and markets went Ballistic in fact Bitcoin in the matter Of about 10 minutes was up 10% up over well or up about $2,000 and I mean it made it to about $30,000 Bitcoin was about $30,000 and it ended up liquidating About $85 million dollars in trading Positions all because of a fake post From coin Telegraph on social media Platform X formerly known as Twitter What in the ever loving hell is this Like oh my God this is absolutely crazy But this actually happened and I'm going To share with you exactly what went down And I got some thoughts for it um you Know one of the most interesting things Outside of the actual Ridiculousness That humans allowed this to happen Outside of that whole topic one of the Things that's most interesting is the Fact that we now know for sure that you Know the spot Bitcoin ETF it's not price In because I'm telling you in literally 10 minutes or so you had a 10% increase
And I just I if the news were real I I Just I don't have reason to believe that It would have stopped running at that Particular point I mean maybe I can't Know for sure but come on in 10 minutes And that was it uh I'm thinking not I'm Thinking I'm thinking that there were a Lot of people factchecking and then it Just all kind of crumbled and then uh You know the price actions went down Down down and some people had a really Bad day as a result but uh before Digging in any further I do want to be Clear I do not have a financial Background of any kind I am not offering Financial advice and you definitely Should not buy or sell anything because Of anything I say or right I'm just an Enthusiast who enjoys making YouTube Videos about crypto related topics but Just as a hobby and just for fun now as I record this video bitcoin's at $ 28,2 183 uh what's on your screen here is a 24-hour price chart and so it's it's up A little bit from before the fake news Came out but you can see if you're Looking at the screen I mean it did not Take long it was really seriously about 10 minutes uh go went from about $28,000 To a high of according to live coin Watch just shy of $330,000 at 29825 went just rocketed on up and then Right back on down as as people began to No longer believe the initial news
Because nobody was correra it it wasn't Anywhere else it was it was just it was Basically just coin Telegraph um Technically I I think um I'm pretty sure Reuters may have actually copied so like There's some Outlets that copied it Without it being verified and then they Just regurgitated the news out which Really just makes me think that media of All kind is just disgusting regardless Because nobody's doing their damn Homework it's just a rush to get out get The news out as quickly as possible um And then if you know it ruins people's Lives or financial well-being well just Just sucks to suck I guess Right but but look at how quickly this Happened so clearly this was not priced In I mean if that's not evidence you Tell me like what the hell are we Looking at on the screen then clear if It were priced in the needle wouldn't Have moved it moved quickly it moved a Lot so I can only imagine when we get The real news what that's going to look Like I I think it's going to be Absolutely outrageous what happen uh now If you're wondering about Xrp um here I can look that up real Quick I think xrp got up to uh I think Just a hair over 50 cents here I'll show You the here's the 24-hour xrp chart so It did move in tandem so you can see There's a needle here on this 24 hour
Chart for xrp it moved at the exact same Time um you know in terms of percentage Increase obviously nowhere near the same But xrp is just correlated that that was Bitcoin's news though so not surprising But yeah xrp did get up to 505 cents and Then went back down no not not Surprising and so um here it is here's Here's the post that was deleted this is What did it all this is what liquidated People to the tune of $85 million Welcome to crypto everybody I just I Can't believe like what fresh hell is This like this is absolutely outrageous That this is real life but this is the Post 8:21 a.m. Central Standard Time That's my time zone I I took the screen Capture myself here um here you go from Coin Telegraph breaking SEC approves ey Shares Bitcoin spot ETF and again to Clarify when they're talking about ey Shares that is black rocks ETF and in Very short order you you can see 1.8 Million views 3,135 repost would it just Went viral instantly and it affected the Global price of Bitcoin and also every Crypto on the entire damn Planet went Absolutely crazy but you can see at the Bottom this post has been deleted Because when you're on the phone um I Don't know why they allow you to do this But when you take a screen grab on your Phone um you can you can actually take Screen grabs of deleted posts um and I
Don't know for what period of time That's allowed but once it once it's Deleted like if you're on a you know a Computer just as far as I know you can't There's no way to go back to it if it's Been deleted but uh for some reason if You've already seen a post and then it's Deleted you can still if you go back to It you can still see it they don't get Rid of it right away I I don't know but That's why it says this post has been Deleted so I screen grabbed it after it Was actually deleted um but that's wild And so I simply I shared that I shared That screen grab and I simply wrote the Internet is Forever because it is that's a thing That you put out on T Weber Nets and now It's just out there forever and we will Never forget it uh coin telra had a bad Day but a lot of people had worse days Because they got liquidated because of Fake News Um here you have uh yeah here so here's The from Bloomberg I want to share just A little bit of this uh Bitcoin ETF Enthus hit as fake news FS $85 million Liquidation an erroneous news report That sparked a brief 10% rally in Bitcoin is shining a spotlight on a Crypto industry that's waiting with Baited breath for the arrival of mass Market ETFs to revitalize its fortunes
On Monday morning a rally in the token Was quickly reversed after a news report Incorrectly asserted that black rock Inc Had received the green light to launch a Spot exchange traded fund in the Cryptocurrency While the news may have been Bogus the Money at stake was very real data from Tracker coin glass shows that more than $85 million worth of trading positions Mostly from traders who were betting on Lower prices were liquidated over the Past 24 hours so my friends I wouldn't Be surprised if there are there's Opportunities for legal claims I I don't Know I'm not an attorney so I can't say For sure but people being harmed because Of erroneous information and Manipulation of the market even if an Accident it just makes me wonder if There's an opportunity there I I can't Say for sure but they're real people Harmed because of negligence at a Minimum and it does seem like this Wasn't something intenal it does seem Like it's actual incompetence that's What it looks like to me I don't think Anybody was trying to gain the system I Think it's actual incompetence and You'll see why as we get a little bit Further through this video but but you Know we got to we got to peek into an Alternate reality though because you Know if this were real we now know that
It's not priced in Market's going to go Ballistic and xrp is going to fall we Saw what xrp did and of course again When this news breaks it's not xrp's day It's not eth's day it's not any other Coin's day but it is nice to see the Correlation there let Bitcoin lead the Market and then you know what happens When we get to Euphoria land then money Cycles through it goes into large cap Coins mid cap coins and small cap coins So on and so forth rinse and repeat That's fantastic to see like and that's That's that's basically what I was Speculating I mean within the last Couple days I was talking about this and I said look there may be some people for Which they they you know they're Counting on this thing going up so for Them it's basically quote unquote priced In but I I've still been speculating the Whole time that since there's not a Sufficient guarantee that this is going To get approved by the SEC that there's Not a like most I'll just say it like This most people haven't made the bet That it's actually going to happen from My perspective it's a virtual certainty Have been following what I followed but I'm not sure everybody's as convinced as Me but uh and well actually I think that This kind of proves it I think most People aren't as convinced as me or else It would have been priced in but here
Markets went Ballistic and so then there was this Post uh from coin Telegraph at 9:32 a.m. Central Standard time we apologize for a Tweet that led to the dissemination of Inaccurate information regarding the Black Rock Bitcoin ETF an internal Investigation is currently underway we Are committed to transparency and will Share the findings of the investigation With the public once it is concluded Within 3 Hours okay so I I got to tell you the Way that struck me the first time I read It I was like okay I appreciate that They're going to you know have some Transparency because they they just did A horrific ridiculous thing which is it Would be more funny if it didn't Actually harm people I just the only Reason I'm laughing is because I can't Help it when something is that absurd I'm not laughing at the people's misery Of that who actually had Financial Losses not at all but it's just it's so I I laugh at things that are just that Absurd it's ridiculous that this Happened and then they said they're well We're going to do this investigation It'll be done in 3 hours and then we'll Know like oh really you know you know The timeline immediately you just can't Say what it is right this second but you Know for sure that you'll have figured
It out within 3 Hours Okay and they did I mean they put out Some stuff here so check this out if you Want to know what happened I got you Covered here son here's the headline From coin Telegraph clarification on Sharing false spot Bitcoin ETF news oh Man whatever reputation you had coin Telegraph I mean if you had a few shreds Of respect left anywhere in the world of Crypto I I I think it's pretty much Shattered at this Point uh and I'm also not convinced that Everybody at coin Telegraph actually Thinks that the they made a mistake but I'll get into that in just a second here Dear coin Telegraph readers we are Incredibly grateful for the support and Trust you have placed in our publication Over the last 10 years we strive to Deliver the most thoughtful engaging and Impactful news affecting the Cryptocurrency space earlier today During routine coverage coin Telegraph Social media team posted a message on X Without prior editorial approval stating That the United States securities Exchange Commission had approved black Rock's I share spot Bitcoin exchange Traded fund or ETF this was false the Result of Misinformation the news lead originated From an unconfirmed screenshot posted by
An ex-user who claimed it was from the Bloomberg terminal so folks that's it That last sentence that's what it was Somebody on X just some random person Shared a Shar a screenshot allegedly From a Bloomberg terminal stating that It was a approved and it was Fake but that screenshot was shared coin Telegraph staff saw the fake screenshot It's like oh this is news let's just put It out to the entire world this is going To be fantastic this will be great for Us this will age like a fine white no it Aged like a fine Milk my God I can't believe they did This there's no excuse for this and Anyway peace continues coin Telegraph Did not ultimately publish an article With this incorrect information but we Deeply regret posting this in error on X And the impact it has caused an internal Investigation revealed that our standard Procedure for posting breaking news on Social media where in sources are Required to be verified before posting To social media was not followed and Then they go on to sites and I'll just Say this I'm not going to read the Entire internal Communications but I am Going to scroll through the article so While I'm speaking here for those of you Looking at your screen if you care to Pause if you want that level of detail You can do it while I'm speaking right
Here just feel free to pause at any Point that you care to so you can see The internal messages right here that Were shared on telegram uh but suffice To say even the employees here of coin Telegraph they weren't convinced but They just left the thing up just Somebody just made the decision Internally employees you can see if You're if you're choosing to read this That they were questioning it and they Just left it up they just left the damn Thing up and they they could in fact it Was you know one of the things that I I Got to laugh because I it's it's it's Funny it just is because it's so stupid Like they put the news out they're the Source and of course it did get copied Ultimately by some other outlets I think Reuters was one of them and somebody Else but then they saw that the global Price of Bitcoin was Skyrocketing they thought that was Confirmation that the fake news that They put out was real I kid you not I Kid you not they put they thought at Least one of the employees did it's in What I'm scrolling through here right Now like yeah it's got to be real look At this the the price of bitcoin's take No that's because of you you idiots you Put out the fake news you're a big Outlet that everybody in crypto knows And then it went viral so your fake news
Did it you idiot sticks my God it's Absolutely Bonkers what happened here so So that's it in a Nutshell I just it's hard to believe and So then ultimately all the denials of of This uh you know alleged news ended up Coming out um here you have Fox Business Journalist Elanor terret and she wrote New official and this is at 9:01 a.m. by The way so this this got swatted down Pretty damn quickly Honestly new official statement to Fox Business from Black Rock quote the I Share spot Bitcoin ETF is still under Review by the SEC end quote so there you Go so you can see why this thing like News of it being fake spread very Quickly but not before destroying People's Financial well-being first Um and then there was this and this is Actually something that I think is Probably going to burn your biscuits it Definitely burned my Biscuits from Fox Business journalist Eler terret coin Telegraph Chief Addresses false Bitcoin spot ETF report And so uh she was actually um at uh I Don't know if her name's here uh it Doesn't matter so she's the editor and Chief of coin Telegraph she happened to Have already been at this event and She's with Mario off Fall and they're just sitting there's a You can see I'm not going to play the
Video but you can see there's a still of The the video 3 seconds into the 45 Second clip and since this happened and She was already at an event uh it was Brought up and she said the following This is a quote as transcribed by elanar Trett this is from again the Editorinchief at coin Telegraph quote This is what happens when we are having Constant pressure to be the first with Every news it's not a journalism problem Per se it's a problem of society and Technology if you're not first you're Last end quote and then elanar turret Said yikes so upon watching that video Clip you know the first thing I thought When I when when once I heard her say That you know you know aside from the Fact that obviously she's just shering Responsibility uh it's just like well You got it it's the environment we I Just I don't like that I don't I don't Don't tap dance around no no no you guys You did it and you know to to to blame It even a tiny shred of this on the Environment that you're in no you should Be aware of the environment that you're In have standards in place and then Follow through because your article Indicates that you did wrong but here You have the editor and chief being like Okay well but yeah I mean it is the Environment and it's tough so I guess we Just got to do it that's the that's what
It sounds like that's the Sentiment right but then the next thing That jumped out as me because she said Literally if you're not first you're Last folks that is a quote from Fictitious character Ricky Bobby as Portrayed by actor Will frell in the Comedy movie Talladega Nights remember Ricky Bobby and the whole shaking B Thing shaking bik remember that movie Was pretty funny Right so I actually shared it take a Look like here you go I quoted it right Here if you ain't first you're last Ricky Bobby also if you ain't first You're last coin gra coin Telegraph Editor-in-chief it's the same damn thing She's she she's sharing the concept from Tallad night as if she's Ricky Bobby if Ain't first you're last are you kidding Me how is this real life $85 million Just got liquidated son are you kidding Me well yeah I P oh what the hell kind Of what kind of comment is that if if You're not trying to justify why would You even use those words if that's not Some sort of Justification why use those words even That is just bizarre to Me dear baby Jesus that's my favorite Jesus is the the baby Jesus that's from Talladega Nights 2o isn't it is that When they're sitting around like uh the Table I haven't seen the movie in a long
Time I could be misremembering stuff but Don't they have like a bunch of KFC and Various fast foods like this fast food Feast across this big table and the Family sitting around then they're They're talking about Dear baby Jesus I Need to rewatch that anyway uh here's a Post from Ripple employee Neil hartner He said the internal chat dialogue is Wild staff suspected it was a bogus Rumor before posting and after but Didn't retract it until they got Confirmation it was bogus that's right They didn't retract it even though they Didn't believe it until they got Confirmation that the own crap they put Out was not true that is just wild uh Neil hartner also wrote it will be Ironic if the SEC uses this coin Telegraph ETF approval fake news as a Reason to deny Bitcoin spot ETFs because Of how easily price can be manipulated By not legit Journalists uh yeah I mean that that Could be something that's certainly Possible but Um I I Just I thought about that for a bit is That something that would actually C I Mean in theory yes because the SC is Absolutely awful there's any excuse they Can but I at the same time like I think They see the writings on the wall and I I also think that um Eric Vorhees who
The uh the founder of shapeshift uh Cryptocurrency exchange he he put it Pretty well here he wrote as if this Doesn't happen to SEC regulated equities The false Bitcoin ETF rumor today was Resolved by the scary unregulated Market Within 30 minutes yeah so it was sorted Out and there was T tremendous Financial Fallout but um you can have even if not To this scale you can have absolutely Have these things happen in uh in Traditional markets even if they're Regulated in fact even even if there Were a spot Bitcoin ETF approved like Now like the same thing would have Happened which isn't to say that there's Crazy manipulation it is to say that There was incompetency up late I think This is pure incompetence Honestly that that that's that's all it Looks like to me and then here you have Uh alanar turret again this is at 10:27 A.m. uh new the SEC has confirmed that The reporting by coin telegraph was Incorrect so there you go so that's the The the final report on the topic and Then there was this which I thought was Hilarious um xrp Community member toasty At toastman Tech wrote at 4:25 p.m. he Wrote Breaking SEC approves xrp spot ETF now of course if you're not in on The joke but I think most people Knew by Then if you're not another joke you Might be like oh did that really happen
But no obviously just kind of ripping on Coin Telegraph and hey you know if coin Telegraph can do it why why can't we Right why can't we do in the xrp Community so I thought it was pretty Funny very sec appr proves xrp spot ETF Which obviously is not true I didn't Need to even clarify that right you know That's not true Obviously ah good times for everybody Right and this is real life by just to Be clear this is real life this is Something this is a real thing that Actually Happened but hey look all that to say at Least at the end like you can see like You can see the light at the end of the Tunnel if you're one of the people that Was concerned oh man prices are never Going can you see that when the Inevitable thing happens Bitcoin spot Bit spot uh ETF getting improv can you See that when that happens it's going to Get crazy because I can I mean I was Always expecting that even before this To me this is just uh it kind of Vindicates the position that I've been Holding and articulating on this channel For some time because my strong Suspicion has been that yes it's going To ramp up and then ultimately of course Can't go up in a straight line forever And you'd eventually have a retrace Anyway to some degree I don't pretend to
Know to what degree uh and then more Impactful than that even would be uh in The coming years what would happen in The coming years and decades you know to Have this Avenue open for investment Yeah that many more people have an Exposure to the class absolutely it's so It's a big deal and it is coming so it's Awful what occurred here but uh you know For people who are long in crypto I mean Like doesn't this kind of make it smile A little bit not not for the disaster That happened to anybody that got hurt But just the just the part where you're Like yeah you can kind of see it now That doesn't just make you like that Part of just that Single part of it Doesn't that make you a little bit happy Just seeing that because it does for me I think the rest is ridiculous Let me know what you think I'm not a Financial adviser you should not buy Yourself anything because of anything I Say or right that would be a very very Very bad idea until next time to the Moon Lambo
