Scholars Corner: Binance, FTX, & The Future of Crypto

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy nom the United States

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Let's talk about binance. Do you think it's possible for buyinance uh be in b token? The Binance token will suffer the same fate as FTT, which is the FTX FTT is a token, so as the FTT token in the next three months.

I hope not, but it's highly likely. Business is a very interesting game.

I was once told that business is war without the bloodshed and the carnage. The move that CZ did was brilliant chess one oh one, right. But the thing about often, and we've experienced this oftentimes, and I've heard this from a few people, but a person that is doing better than you will never have anything negative to say because

And because this space is going to and I said that from the beginning, the banks are going to find ways to take the space over.

I hope that this coin does not fall apart, and binance does not fall apart. I'm not anti all crypto, just as a person who actually trades, like I actually trade for a living, there.

Are certain things that you can see that are not clear.

I mean I said it before, even with Sam when they were saying he was doing this arbitrage and taking bitcoin from Hong Kong and transferring to here. No person had ever seen him take a trade prior to I hope that binances not fall apart. But I will say, if you are in this coin, you probably should get out now before shit hits the fan.

Well why are you why? What makes you say that? And so, just to give some reference to people, Finance is the largest cryptocurrency exchange in the world.

Mm hmm.

This coin has done tremendously well, like the history of mean of course is you know, taking a hit when all crypto takes hits, but up, you know it's time. It's done tremendously well. Finance is a highly respected cryptocurrency platform m globally and it's the biggest. So yeah, all right, so that's so, that's that. So why are you so bearish on Finance?

My my favorite question?

So I'll walk someone through my set of questions when I'm looking to invest in anything. Number one, what does this coin do that no other coin or entity can do in the world. Number two, if you have to put your life on the line, which you put all your money into this coin? And when I say your life, yours, your family, friends, everyone. For most people, when I get to question number two, the answer is.

No, Ernest what's up. You ever walk into a small business and everything just works like the checkout is fast, the receipts are digital, tipping is a breeze, and yeah, out the door before the line even builds odds are they're using Square. We love supporting businesses that run on Square because it just feels seamless. Whether it's a local coffee shop, a vendor at a pop up market, or even one of our merch partners, Square makes it easy for them to take payments, manage inventory, and run their

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from El Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy Noman, the United States

Sponsored by the United States Department of Homeland Security.

I do think that there's some value there, but I think the thing that we are seeing in real time is that the transparency that we wanted and that we thought blockchain would give is not there and most and if it's not there in the biggest companies FTX Finance, what's stopping the fifteen other players that are three through fifteen and then the top one hundred to be running

I think the answer will be known.

Would you put all your money into earn your leisure, and as us of reliability, you show that day in and day out. I think often when we have to convince people of something being of incredible value, it's not. And I went through with game Stop, I went it through it with Jimmie went I mean excuse me, AMC. I went through it with Facebook and Meta. Most of these coins don't actually provide any value.

So I think there's another part of it is that the responses that they've been getting in this time, right So the executives from Finance when I asked questions, obviously we have TX being the headline for the cryptal space right now, the answers are really that confident. And so most people know that that Finance was an investor in FTX, they had over two billion invested and they so they stake and then that's what prompt them to say, maybe we're building out and obviously they don't.

We sew what happened FTXA starting.

To happen is people aren't believing in the space as much and now you're seeing withdrawals and so it was like, oh, it's on it's one point two billion, Okay, that's not even a top five day for us at binance. Then it's the same day was last Wednesday, it's four billion, then it's six billion the next day, and it's like they started as adding up and it's like, can't we withstand this type of momentum on the downside? And the

Can they continue that? I don't know. We'll see it was down in a day. Let me do exercise with you guys. It's earned your leisure.

Profitable yes, Notice Rashad or Troy didn't shake in their chair and when they answered, your gut feeling told you it is straight.

It's the good. It's the red paned profitable, yes, not profitable yes, my different yes.

Certain times like we want to believe the hype of something like we ever dated somebody and like we know that there was bad not you, Troy, because you married an amazing, great family. We have a shot trying to learn snow returns from shots, called them miss out on the king or.

Who who's next on the list?

I don't know whomever right, But a lot of times like we will want to believe the lie because we want to be sold to dream. I would, and honestly, if financing these coins worked as well as they said, I would be all into them.

I know people YO stick to stocks and no I trade.

I trade one of the hardest markets in the world.

I just don't see what the value proposition is.

And then also when you don't have any protection from the banks, the hedge funds, lobbyists, the global elite.

If you will, what's the real value?

And I think he could have done a better job after this FTX blow up of coming out and saying, here's what our revenue looks like, Here's what our weaknesses are, Here's what the threats are. Here's what we're going to do if there is a run on our bank. Here's what we're going to do to make sure that the value of the coin stays up.

Here's what the.

Five year or four year projection of our company looks like a lot of it is cut.

The number one thing I want to.

Tell all black investors who watch the show, even if you don't know every fundamental thing that me.

Or Troy Rashad a trap will talk about.

One thing that you do know growing up in our environments in the hood, your gut instinct. My favorite quote from Booty about Kanye, he like, Yo, I'm a street dude. You can tell them that you can't get that over on me. So when I was talking to Loon this past week, I'm like, bro, why are you rocking me? He like, even though you ain't from the streets, you're

Laughter shout out Eddie Winslow. So I I.

Don't know if it was that super like I don't want to find out, but no, they have the video talk about after I never saw that.

Yeah, it was nid.

Not not super.

I would say I would say this about about bidance. I think financing can't be compared to FTS because Finance is a way bigger operation is apples and that Orange is really it's comparing a tugboat to a bruise ship. So I don't think that Binance is gonna collapse, and if Biance does collapse, in the whole entire crypto spaces pretty much done at that point.

Mm hmm.

So I don't I don't think that it's a fair comparison to compare the two. Okay, and I'll give finance the benefit of the doubt because we haven't seen anything as of yet that would raise red flags.

We did in the fts either we didn't, which is the scary part.

Yeah, it's like it's like it's like a relationship, right.

Yeah, yeah, I can't project it on them.

You can't say somebody's cheating until you start to see, like you know, like yeah, you know, you gotta you gotta see some red flags first. You see some red flags first, gotcha. Now, now, now you just if you just coming up back.

To the gut though, the intuition, wish though.

But your intuition comes from some level of red flags, right if I'm just saying like no, not not always.

Yeah, yeah, you could just something's not right.

You don't you might not have to feel the difference, but you can feel it, ladies, can.

You feel it? Right? So when our schedules change up and the love of affection.

Change, something's happening. Something's happening, or you could just feel like you come home late, you're not answering your phone calls. Now he's a red flag.

In the presence of it.

Like you can just feel like there's something, that's all. There's something and then you start to like start really trying to feel like, yo, something is now changed. We can fit you start looking for those red flags.

Yeah, we'll get the CEO of if anybody can connect the talk about it, just make that happen. Yeah, but you know, I'm curious. I'm let me just put you know, we have a big audience that actually watches. So he actually had a couple of Forbes a few years ago. Billionaire. I believe he's from I don't want to misquote this situation. But he's from China, I believe, or.

Hong Kong, I think, Jean, Yeah, if definitely would would love to have a conversation with him because it's important and it's a pivotal time in crypto, so it's important to get in front of because, like you said, if people might have suspicions and they might not even be warranted, but if you're not.

Speaking, if you're not speaking up publicly, then you know, a snowball becomes an avalanche. So if you're listening, we would love to have you on a program and and hear your thoughts about your company in the future of cryptocurrency as a whole.

One on seven seventy one is what I have to coin go into.

I was gonna say to your point, like, in the light of what's happening with FTX, and obviously you know the role that they play in, and this would have been the opportune time. So if there was word fliers, let me show you why we're different, Let me tell you how we're different.

Let me put everything out here, why this is a real situation.

What that was was obviously fraud from every you know, from everybody's perspective at this point. Let me show you why we're the number one to change. Let me show you why this point is. It would have been an opportune time rather than the same. You're financially fine.

National. But he was born in China, so he's from Chinese descent. Uh a Canadian national. Chap Hanau hope, I'm not mispronouncing him name. His name too bad. But yeah, let's talk. Let's let's figure out. Let's figure that out. My graduates from my school being forced back, drop drop, drop drop.

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy Noman, the United States

Sponsored by the United States Department of Homes. A cat ready