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This is Matt on the moon family said Dan Shanley got xrp bucking the trend here As I record this xrp is the only top 10 Crypto by market cap that's in the green Up about six percent actually just a few Minutes ago before I record this video It was a hair above six percent up over The last 24 hours Um everything else was in the red now Technically bitcoin's up 0.26 uh but Really xrp is the only one performing And it's also interesting that xrp has Been In terms of institutional money flowing In an outlier there too bucking the Trend again yet there and so I want to Share with you some uh information about That and uh frankly despite the fact That 2022 was one dumpster fire of year And despite the fact we got the secv Ripple case hanging over our heads You know 2023 actually so far and I'm Jinxing it right now uh hasn't been that Bad all things considered we're still Waiting for the crypto contagion to Spread though I want to say something About that before the video is over too But uh before going further I do and 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 Um oh and by the way it's not just uh Xrp that's been doing uh pretty pretty Well you know this year Flair's Songbird token is up Dramatically and again I'm not Pretending like it hadn't traded crater Dramatically also its high was like 71 71 cents and got down to maybe a little Bit below a penny at one point but I did Want to say if you're looking at recent Times it's been outperforming and yes it Cratered but so did every other coin on The damn Planet frankly and uh there's This headline from the daily huddle uh Flair Network plunges 87 percent as long Awaited airdrop to xrp Holders goes live And so I'm sure just about 100 of you Are now aware on January 9th the initial Distribution of the flare token it was Sent out 15 of total Holdings sent out On that date and the price compared to The IOU for Flair which had been trading For some time dropped precipitously but It wasn't even the same damn ecosystem It's more like there were two exchanges On the planet that said here's a Representation of flair it's an IOU and It can be traded for actual flare once Once you have it once it once it's Available anyway but it was a completely Different ecosystem with completely Different supply and demand Dynamics uh
Nowhere near a global presence and so is It at all surprising they had these two Little exchanges where they just had Their own little ecosystems there and Then when you have a global ecosystem Suddenly come online it's way different Is anybody actually surprised by this so They say it's down 87 percent that's not Actually true because On January 9th before it was why before It was traded on any Exchange Flair the flare token was worth zero Dollars and zero cents it didn't have an Open market price because nobody owned It nobody had it to sell it was worth Zero dollars and zero cents just like Back in the day before xrp was listed on Exchange xrp used to be worth zero Dollars in zero cents and then it had an Open open market price and Flair had an Open market price and now Flair is worth A lot more than zero it's not worth a Ton but it's worth a lot more than zero And in fact over the last 24 hours even Flair is is up a fair bit look at this The flare token is actually up since Since 24 hours ago 26.53 percent And so I know a bunch of people wanted To sell it a lot of people don't care About it but a lot of people do care About it and a lot of people like me Want to have very broad exposure when it Comes to the crypto asset class so
Whatever you want to do all good in my Book I don't care it doesn't affect me But I'm going to continue to just hold This thing and see what the hell happens I want broader exposure exposure to the Crypto asset class and it seems Promising so we will see what happens There Um and then there's also this and I Don't feel like I need to read through All these articles but sometimes that The headlines just they say a sufficient Amount they can kind of sometimes it Says it all but from the crypto basic Here's the headline xrp now ranks as Fifth crypto asset by trading volume on Binance Well how about that and that's the World's largest cryptocurrency exchange By volume by the way and xrp was Supposed to be worth zero zero dollars And zero cents yet again by now wasn't It after the SEC came on uh it came on The attack Here's another headline from the crypto Basic xrp now most traded token among Top 100 BSC whales how many articles Have I highlighted that show just On-chain analytics in this case you're Talking about BSC Wells but how many Articles I've been highly haven't been Highlighting over the last month or two In particular highlighting how whales Are behaving when it comes to the
Accumulation of xrp I I don't know the numbers but it just It keeps coming up I'm just looking at How they're behaving and then I look at How the typical retail investor behaves It is markedly different just saying and Then there's this from the crypto basic Xrp starts 2023 with three million dollars in Inflows in week one bucking the overall Market Trend and so in this case I don't Need the redial for this either I just Want to make a broader point we're Talking about money flowing in on an Institutional level money flowing in And this is during bear Market territory With all the other nonsense in garbage The the scary headlines about the SEC Associated with xrp currently still this Happens That's worth highlight I'm just saying That's why I started the video by saying Look I'm not thrilled with everything going On just like you want but all things Considered I mean 2033 could have Started out worse I'm just saying now as Far as things getting worse not to be a Little Debbie Dunder here but that Crypto contagion thing can we talk about That because it hasn't spread very far After ftx's collapsed you saw what have We well what have we seen what you saw Um you know block fi because they
Basically got bought out by FTX they Didn't know they were getting bought out By a Ponzi scheme but they were and Perhaps they should have known but Setting that aside they were so block Five is gone now go in the way of the Dodo my favorite extinct avian creature By the way that's a fun little fact About me but uh then there's Genesis we Know that Genesis by all accounts it's Not a secret seems to be completely Insolvent and That's major that's a major firm that All sorts of other gigantic Institutional level entities and Cryptocurrency exchanges count on and And parked a lot of money with and Genesis doesn't have it So how does that not shake out I mean Unless you think and this would be so Super duper weird like if if Genesis Does collapse we see that actually Happen because there's no one to bail it Out there's that because the money's Gone there's like a gigantic hole in the Battleship if it collapses and we don't See you know prices for crypto globally Break a sweat that'll be the weirdest Damn thing to me I mean you'd be talking About that would just that would be Proof that this concern was actually Baked into existing cryptocurrency Prices but do you actually think that's The case
Maybe some of you do I'm not convinced Of that my bet here is that it's even if It's baked in for some people to some Degree and their people are hedging Their bets as a result of all the Nonsense going on right now okay fine But you don't think people are going to Be scared at all when there's a collapse Like what are the ramifications going to Be there's going to be real people Recognizing that agree to which they're Distraught how's that going to impact Them like even if you just lose some of Your money because say you had you're Using Gemini's earn program which relied On Genesis you know maybe it wasn't your Entire crypto net worth uh what how's That is it gonna make them Panic even I I don't know I don't know how the the Humans are going to behave I'm just Saying if you look at every time there Was a major collapse last year it wasn't Baked in even after the initial collapse Of Luna nothing else was baked in Market Collapsed every single damn time but It's not going to this time I'm not thinking so and it's not going Away don't think just because a couple Months have passed since FTX collapsed That we no longer have to worry about Contagion stuff Uh I mean even and I'll get to this in a Second too but even coinbase uh thinks That there's a serious concern the
Contagion can what Cannon will spread So anyway look at this headline from the Daily huddle Cameron Winklevoss tells Digital currency group to fire Barry Silbert says fraud committed against Gemini users fraud my friends the Founder of one of the biggest crypto Exchanges in the world Is urging digital currency group to fire Its CEO Barry silbert over issues Surrounding Genesis last week Gemini Founder Cameron Winklevoss wrote an open Letter posted to social media blaming Dcg founder silbert for the collapse of The Gemini earn program under the earn Program Jim and I partnered up with Crypto lender Genesis to provide Traders With up to eight percent Returns on Their Holdings however earlier this Month Genesis announced that ftx's Collapse greatly affected its finances And it could no longer pay out investors Of Gemini's earned program Genesis's parent company is dcg In another open letter to Twitter Winklevoss addresses the board of Directors at dcg As in last week's letter Winklevoss Playing appends the blame rather of Genesis's failure on silbert and this is A quote In June 2022 The music stopped Three arrows Capital collapsed Lane bear
The poisonous fruits of this radioactive Trade instead of stepping up to solve The self-created problem and despite Having earned more than a billion Dollars in fees all at the expense of Genesis lenders Barry refused to take responsibility Instead he resorted to committing fraud To protect his ill-gotten gains end Quote So now you have an official fraud Allegation against against Barry silbert From uh one of the Winklevoss twins That's those are that's not a soft word That's not that's not a small claim Peace continues ultimately Winklevoss Asks the dcg board to fire silbert In order to maintain some sort of path Forward quote the path forward For all the reasons mentioned above There is no path forward as long as Barry silbert remains CEO of dcg he has Proven himself unfit to run dcg and Unwilling and unable to find a Resolution with creditors that is both Fair and reasonable as a result Gemini Acting on behalf of 340 000 earned users Requests that the board remove Barry Silbert as CEO effective immediately and Install a new CEO who will write the Wrongs that occurred under Barry's watch Genesis lenders including earn users Have been seriously harmed and deserve a Resolution for the recovery of their
Assets I am confident that with new Management at dcg we can all work Together to achieve a positive out of Court solution that will provide a Win-win outcome for all including dcg Shareholders end quote Okay I don't I don't know where that Optimism is coming from I mean optimism Super duper at all if it's if it's if It's properly placed But how do you fix the hole on the Balance sheet where does the where does The money magically come from is there a Path forward where despite the the harm You can actually with some in some Reasonable amount of time whatever that Might mean to people have a a profitable Business model And it's just gonna fill that hole and Then everything's gonna be okay Fat chance okay fat freaking chance I Won't be surprised if there's lawsuits Here and and you know maybe even before It gets the lawsuit phase maybe there's An official collapse and then what's That going to do and then what breaks After that how far far the contagion Spread Because look again if the contagion has Already spread as far as it's going to Spread what in the ever loving hell I Don't understand that's possible if I'm Wrong fine if I'm wrong I'm wrong I Don't see how how could anyone think
That it's already done And I'll tell you who doesn't think that It's over Coinbase here's the headline from New York Post coinbase CEO Brian Armstrong Blames unscrupulous actors for latest Layoffs I want to cover with you just a Part of this article and a lot of it is Like the thrust of it is with the state Of things being as they are in crypto FDX collapse uh how it's harmed coinbase But A point on this topic is Contagion fears so check this out Coinbase CEO Brian Armstrong appeared to Blame disgraced FTX founder Sam bankman Freed after his struggling company Announced another round of streaming uh Sweeping rather layoffs on Tuesday Armstrong an outspoken critic of bankman Freed referenced recent upheaval in the Cryptocurrency industry stemming from Fdx's collapse while confirming coinbase Has slashed about 950 workers or roughly 20 percent of its overall Workforce In 2022 the crypto Market trended Downwards along with the broader macro Economy Armstrong said in a blog post We also saw the Fallout up from Unscrupulous actors in the industry and There could still be further contagion And that's a quote that's Brian Armstrong founder and CEO of coinbase Expressing concerns the same concern I'm
Expressing which is Further contagion spread I don't how do We not see that I don't get it how could There not be Because think about this too and if you Think that this is all even if you are One of the people who thinks that this Is all baked in already which I just I Don't think evidence shows that's how Humans make it's like when the bad news Truly breaks that's when it goes like When the news break broke about uh the Concerns surrounding Genesis we didn't See a completely catastrophic additional Drop and it was not long after FTX had Gone bankrupt at that point So we were on the heels of that news Uh but we didn't see like an in-kind to Drop or anything like that So how could it be baked in if when the News broke nothing to that degree even Happened as a result So that's another reason I think it also Doesn't make sense so unless you think That somehow this hole gets plugged and It actually goes away and if it does Great super duper I would love for that We'd all love for that to happen how it Sounds like a fantasy land So that's why I'm just saying I don't See how things end up getting worse for The asset class as a whole but it's also The case that if that happens I'm Telling you what I'm doing I ain't gonna
Be fearful at all I have a bunch of Additional capitals still sitting on the High on the sideline I deployed a bunch Of it in November but if we if we get Another drop as people panic sell I Understand it's not the end of the Crypto asset class I will deploy the Massive quantity of capital that I have Sitting in my personal checking account So even if my net worth goes down as a Result of of such a thing happening I'll still be excited I'm not gonna be Uh you know I'm I'm not gonna be crying About the realities of the world I'm an Adult and I'm still going to be Optimistic for the future I'm a big Picture type of guy I'm not gonna wallow In misery over short-term nonsense that Doesn't actually impact me in any sort Of material way because yes net worth Goes down on paper I don't need to pull That out and turn it into cash or Anything else I just want the exposure To the damn asset class because it's Extremely volatile and volatility is the Purpose of investing and I think over The Long Haul the trend is going to be Dramatically to the upside just as it Has for 14 freaking years to this point I'm not worried about it I'm I'm ready For it and there's so many reasons to be Optimistic I'm very optimistic also About how the secv Ripple case is going To conclude
And maybe it goes disastrously in which Case we got a lot to talk about but I'm Optimistic I'm not a financial advisor you should Not buy or sell anything because of Anything I say or writes that would be a Very very very bad idea until next time To the Moon family sedan
