USDC is REPEGGING: FUD OVER?

Live and we are live guys so welcome back to another live episode of Vox Mining And yeah, it's a Sunday morning for me over here and I just wanted to give you guys a quick update Now that I'm back in stream mode, it's actually really fun actually to be honest So I'm actually kind of enjoying this and I want to do a very chill session today because the markets are actually not bad The USDC has kind of come closer to pay, we, you know, yesterday when we were looking at this This was the craziest time, I remember yesterday when we did the live stream We did it at around 3 p.m. Hong Kong time, which was around 3 a.m. in New York And that was a crazy time because the Chinese, right, they were at full maximum fear level And I kind of felt like that's the worst way to leave live streams is to kind of leave it at the worst state that USDC is in And I think today was a good example, I think it's a very good example for us to talk about, you know, how fear works in crypto I definitely did a fun trade yesterday because it's actually from this channel actually So someone was like, you should, someone's like leverage trade and buy USDC and just play along, right And I actually did that, that actually turned out to be a really good trade I was up 173% on that trade I did, I was a little bit of a pussy, I didn't leverage long 50x, I think that wasn't that right But it was a situation where like a leverage long kind of actually did work because You don't want to actually hold USDC, if you get liquidated, it's fine You don't, you, I actually did this on an isolated account But it was a situation where, yeah, like there wasn't so much reason to have that much fear for USDC to go down that low It almost felt like coordinate fear attacks on the Chinese who were unsophisticated You know, yesterday we were joking and saying, you know, probably these Chinese are looking at it Oh god, what the fuck, these Chinese are not going to play, this is what the hell is going to play I bet they were just swearing the crap out of themselves And we saw evidence yesterday also at, you know, at the lowest point Of just terrible, terrible trades, right Yesterday there was a full-on panic trade, I retweeted this Where a particular user, they swapped out $2 million worth of curve liquidity that had exposure to USDC And they swapped it out for 5 cents 5 freaking cents They made a, this is a total loss, right And that's because this person was panicking This person, whoever this person is, because we see this on chain, we don't know who they are But we see this on chain evidence, right They, they sold the wrong thing Instead of withdrawing their curve pull as different cryptocurrencies They chose to sell, sell the LP And the LP really only had $2 of liquidity in there So when they, when they pulled, when they sold it Well, they got 5 cents So, right, so this is one of the most important aspects of crypto And it's, I feel like this is something that, not financial advice It's a very big learning point Because something that I feel like is necessary almost in crypto Is always to gauge the market I feel like that's one of the biggest critical kind of I think it's almost like a, it's like a temperature test right now And I would say right now, the temperature is lukewarm Okay, hear me out here, hear me out here, hear me out here Because if you're too safe, right Because yesterday I talked to a lot of people about USDC, right Yesterday there were a lot of different voices And people were freaking out here, here, here, a little bit here And then they, they were literally saying The people who were generally super safe in crypto They either sold very early And if they missed out, some of them took a huge haircut Some of them definitely sold at a 10% discount And it's for the reason that they can't sleep at night And it should have been a necessary risk You know, USDC should have been good But there's a lot of people who are extremely risk averse And the risk averse people, unfortunately, cashed out a little bit too early And some of them, unfortunately, took some massive haircuts And because of that, they have repercussions So this is a situation where if you're too careful in crypto It also doesn't work And it kind of echoes that idea that almost everything that's regulated right now Is becoming a big mess, right Anything that's too safe right now, like crypto It feels like it's just not compatible with being too safe But the reverse is also true True DGEN, I feel like it doesn't really work on the markets right now either This is kind of interesting because I did also some kind of temperature tests And I bought a lot of DGEN shit coins And by the way, guys If you guys want to join us on the Ultra DGEN channel Let me just open that channel up We have a Discord Wait, I thought Discord Telegram channel Where we have a lot of people But it's a private channel And if you guys want to join it I'm going to open this up for the first time to the audience here But let me share the link for you guys And then let me figure it out But I bought some of the coins that everyone was hyping about And I took a haircut I took like a 50% loss net Probably net is like across a few coins Probably like 25% haircut So 2DGEN, not researching doesn't work in this market either That's kind of my personal test And again, that's something I like to do when I gauge the market You know, I'll throw a few hundred dollars here A few hundred dollars there I'll test, see what works out And if it works out Then I just go YOLO in And this is what kind of happened last bull market too Remember 2020? There was a time I did like a little bit of a few tests And I was like, huh, wait Why is everything going up? All right, and then we went straight into DeFi Right, and then that started the whole DeFi craze Where by the time the craziest farms like YFI YFI, right? When that started, I was already in that pool, right? And then when the first farming launched I was like a portion of that pool And I was like raking in the rewards Right, because I was there early And the only reason why I got there was because I was doing these temperature tests And I can say it's not 2020 yet All right, I wish it was I wish it was like kind of the, you know, preset I'm still waiting But it kind of feels like this temperature right now It's not too good to be overly cautious It's not too good to be overly degen as well, guys But post your thoughts as well I think the best thing about live streams And I think this is just amazing for live streams Is that the best part about live streams Is that we actually share that information with us And then, yeah It actually makes us better I think that yesterday I wouldn't have done that trade If someone didn't just like, you know, slightly hint at me Yo, you should do it Like, DJ should do this trade right now And then I was like, oh yeah, absolutely So that was kind of funny Let me post that into chat right now, guys Thank you guys so much for watching Thank you guys so much for tuning in Also, if you guys are tuning into the stream I'm trying to restart these live streams Tell me how frequently I should stream as well Because if you guys want to watch it every day Or I was initially thinking maybe like once per week Or twice per week to just catch up And then do some different forms of content So tell me how much or how often I should live stream And where you guys are watching from Because like, this really is for you guys, right? This stream is really for you guys to Kind of just show, chat, share information with each other This is for you Thank you guys so much Thank you for the donation as well Purple, Ripple, BTC bottom in Or what's the BTC bottom? Oh, this is such a hard question for me right now So I didn't panic buy BTC yesterday All right, that's just a fact Here's what I think about BTC That's an amazing question I think, I see a lot of resilience I see a lot of resilience Sorry, I can't really speak properly right now I see a lot of resilience going on This, my personal take is I've already had my Bitcoin bags I've already had my Bitcoin bags I haven't touched them Even since 20 I think my Bitcoin hasn't really been touched since 2020 The only way, the only time I touched it Was my Bitcoin bags Was to use them for DeFi farming So I get 10% during the whole DeFi craze Right, but in terms of coins I didn't really touch them I didn't actually like Touch my huddle Right So in fact The only thing I did was add to it But The thing here is like I feel like Bitcoin is finally demonstrating its use But however Because the markets are so uncertain And because There's a lot of weak hands still in this market right now Think about it right Back in a day Right Back in 20 Let's say 2016 Like before this whole pump Right When that was on full maxi mode Right That's when I kind of got into Bitcoin And you're exposed to a lot of people who are like Yeah, there's nothing else in this planet But Bitcoin This bank sucks The banking sectors are completely broken This is the revolution we're looking for And at that time The main argument was a replacement Bitcoin replacing finance Right But the narrative kind of changed You know As more of the bankers came along They were like Yeah, this runs in parallel And then of course Innovations came along Right We got decentralized finance We got all these things adding to it So now Bitcoin is becoming more and more considered Like a tech commodity Right Or This overall feel People are just confused Right And this is where we stand advantage Because we've been here the longest We've seen the changes It's good and bad Because we've seen everything We know everything But we can't We can't just think Oh look This is the only one narrative There's multiple narratives right now And a lot of the money that is in the new narratives Like say for example The tech narrative Well they're completely going to get wrecked next week Right That's the next thing we're going to talk about today They're going to get wrecked next week Because we're anticipating a major bank run There's just no reason why this wouldn't happen It's like it's the clear logical thing that's going to happen With all major US banks Right The ones that are most exposed to tech sector They're going to be hit the worst And people are going to look for a way out Either physical cash, gold or Bitcoin But the problem here is Bitcoin I don't think it's ready yet I'm waiting for what happens Is for this major negativity I'm waiting for major negativity to come in And that's kind of the signal for me that I'm waiting for So right now I'm not adding to my Bitcoin portfolio just yet I'm not financial advice But it is what it is But I haven't changed anything old either So yeah So that's my two cents So that's my response I don't think the bottom's in I don't think so I don't think so There's just too much negativity And people are too emotional That's what we also learned from this whole USDC ordeal People got emotional Right It was completely irrational For USDC to go down below 80 cents Or sorry, 90 cents rather It just didn't make any sense Well, at least for me anyways Right Because if you think about it Right The exposure wasn't that big And The problem was Is that The bank runs haven't even happened yet So So it was mostly emotional fear Humans are emotional animals Especially For Asian audience That does not understand What US regulations are Right And what the Americans are thinking So I felt Yesterday was a simple trade That was That was a clear trade I was like That's what I was saying today It doesn't even feel like a degen trade Now for me today I'm hoping to pick it up My fingers crossed Also, I actually took the profits From yesterday's trades I mean, yet again I feel like this might be a time To capitalize on Like because we have the information We have both East and West information On this channel It's time to capitalize On our knowledge of both I think this is Kind of the core motivation Behind us pushing And then we just Test the markets And see if You know We're going to enter That crazy market But What I'm seeing today Is I'm just seeing If the Chinese Are going to freak out A little bit more It could be possible Right I'm going to catch up On Asian news In a bit So far it doesn't seem like it Some people were asking me What were the Hong Kong groups saying Actually To be honest The Hong Kong groups Were pretty well informed About what's happening So There's a few big WhatsApp groups In Hong Kong And Generally speaking They actually send Good information Because there's a lot of Good English speaking funds here But I think What would be more interesting To look at Which is something That I will provide you Is the Chinese groups Right The Chinese WeChat groups Those are probably where You can see the fear And That's something We'll try to show you And it's good Because I'm working As a team now So we can dig that information Up and show you guys And this is something upcoming I do say right now Box mining is spinning up It's You know I took a little bit of a break And you know A four month break in crypto Is like four years Right So it feels like It takes a while To get things spinning up And I'm trying new forms Of content So Quick plug for everything That I'm doing right now For On YouTube I'm producing Obviously producing more content We're going back to more lives Like these To share information With you guys I'm also trying to Kind of switch up The content a little bit So yesterday's video Was Kind of like It's more of a Infographic Info Info video Where I use a lot of Stock footage Instead of my face So if you guys are tired Of looking at my face Right This kind of video Was I don't know It's got It's got very Lukewarm reviews And I want to thank you guys For the comments here So You know Some people think Oh it's nice and simple For us non-US viewers To finally get it Some people Like this Angela Wang says The TLDR is all we need Nice short summary Say Naked Trader But we also have Some negative feedback As well Some people are like Yeah I hate these stock footages Right Says Madhu And Kevin Chambers Kevin says What was it Indie Kick says Don't like this format Great Great info Well It's interesting I'm actually very I feel like I'm I'm rejuvenated Right now In creating content Because There's just Different stuff Right Like It's fun Creating different content So Guys Give me some feedback As well If you guys are Interested in watching The latest video Tell me what you guys Think as well About This type of format You know Stock footages Yeah I'm trying shorts I'm trying longs It's extremely fun As a creator This is what I enjoy Guys This is what I enjoy Try something different Something new And Blockchain comics Was like Silicon Valley Footage I was like Dragging that Non-stop yesterday And it wasn't Absolutely great quality To be honest I will be a little bit Honest here This is something That I try to see If I can make In a short amount Of time So roughly To make a video Like this Like kind of Infographic With I actually Scripted this So a lot of My stuff Before was Unscripted But I scripted This one And It takes around Three, four hours To make So it's not That bad I guess If I want Even higher quality It will probably Take eight to nine hours But Because I didn't Really know If this format Would be good For me or not I kind of Just cut that A little bit short And I was like You know what Let me try to do A test here And it's Lukewarm It shows promise But I think Like I don't know It needs work It needs work That's my current thing So tell me What you guys think Does it need work Does it need more work For this to go Horror man says Get back to Old live streams Miss those Absolutely Absolutely I miss talking to you guys I miss definitely Mix talking to you guys Barry Currancis Is Tether FUD Next Or another USDC dump So yet again I'm looking out I'm trying to Eye to see Maybe if USDC dumps To 93 cents I will go in It just depends On the Asian markets Yet again When Americans are sleeping Asians are up And they might be FUDding So I'm just waiting For that I say there's around A 30% chance That can happen And if it does I'm going to do And echo the same trade It's just easy trade For me The other Objective The other question That I think The bigger question And the better Is This is This describes The situation USDC Transparent Looks like Looks like a horrible Collection of plates USDT We have No idea What is going on Right We don't even know What regulated Entity Like what What jurisdiction USDT is under It's It's done in Just like a Web Of complicated matters And they have a Web of accounts Very little transparency No regulatory oversight For any single Government entity I don't know Alright This This is where And why Yesterday I didn't YOLO And Trans Convert all My USDC Into USDT I do have Stables And I We don't know That's the crazy part We don't know Right Like most of the time On USDT We just have the word Of some exchange owners That say Yeah we looked at Their books It's It's kind of good Like Sure So The pattern With these stable coins And this is just me Sharing some of My Previous Experience With these stable coins Is that people Need them Right But they're the worst Right Now we know That there's just Nothing good Nothing good It's not good To hold these long term Tether itself It's got 62 billion dollars Of market cap So 62 billion dollars In various bank accounts And One thing that We notice about Tether Is that there's always These waves Of massive FUD So Tether also experiences These waves Of massive FUD And Generally during Those times Tether can fall down To 90 cents Or so Right This is just a fact And I've seen this So many times Right I'm not going to comment On whether it survives I'm just going to comment On the patterns That we see The pattern recognition Of what's going on Right So there's always FUD FUD attacks These huge dumps And the people Who are unaware That Tether Has these dumps They're going to Be caught Like Rucked Right People During Tether FUD They were selling Tether For cheap Right Because they were Fearing that it Fell to zero And I knew people Who are able to Buy cheap Tether And then cash it out On the other side Straight to US dollars And they made a killing Right Think about it If you have A million dollars Right And you bought Tether at A 10% discount But then you can Get a million dollars Back from Tether From into your Bank account Yeah Per day That's like 100k per day Guys So anyways That was my Past experience I knew people Who are able To do so Because they have A very close Connection with Tether And then they Can claim Yeah Tether's okay But the honest Truth here Is that we Don't know Right And sure Being opaque Is good Because they can Kind of hide Behind This You know Unknowing We have no Idea how bad It is And there It might even Be worse And I really Think that They do have Exposure in Some form or The other To either Silvergate Or Silicon Valley Bank These are the Two biggest Crypto friendly Banks Actually no Top three Kind of biggest The biggest one Is Signature And we still Don't know What's happening There But these Are big banks There's no Reason why Tether wouldn't Hold funds There So they Probably would Be affected As well But the Problem here Is we don't Know which Entity names They're under Even Because yet Again They don't Operate Transparently And their Accounts Could be under Different International Entities Which will Have like XYZ Corp Right So it's Extremely hard To chase Down and for Us to do That due Diligence here So yeah An opaque Covered So am I Looking to Exit Tether Absolutely Am I Doing it Right now Absolutely Not Right This is one Of the Biggest Problems I'm Facing With my Stable Coin Collection I do Have stable Coins Because I'm Looking to Re-enter The market But yeah This market Right now It's horrific To be honest Horrific Alright So So Blockchain Comics Says this Was 100% Coordinated Thought they Will go After USDT Next I actually Think so I actually Think so Like Just by how Hard USDC Dumped I actually Think this Is coordinated FUD I think There are People Who would Benefit From this Especially People who Are close To say Circle And on Monday They can Just withdraw And withdraw USDC At $1 Into their Bank Accounts They are 100% Motivated To attack USDC Right now So You're Here You have A mixture Of actual Good Information But then Combined That With Intentional FUD Or Intentional News And this Is why It is Extremely Important To be Aware Of what's Happening Guys We got Alo says Intermittent Fasting Man I'm so Hungry This morning You have No idea So I'm Doing this Stream before Eating I'm trying To eat A little Bit less I gained A lot Of weight During The last Bomart Market And Yeah I'm trying To I'm trying A few Things I'm trying Keto But I broke Keto Yesterday Because I Was eating Indian Food And Man Like Nan It's one Thing I And I Ate so Much Nan But the Problem here Is that When you Eat carbs You wake Up hungry Right If you Eat keto And you Just drink Oil Or you Eat steak Or I was Like Making these Movies You don't Feel hungry After 12 15 hours You're Actually still Good But the Moment you Start touching Carbs Man That hunger Just comes Like Like that Like that Anyways So anyways Guys So I Chilled stream Today I don't Think There's Too much Else To update Other than The potential Bank run That we're Going to be Seeing On Monday It makes Logical sense Complete Logical sense Of what's Going on We do have Some updates On Circle If you guys Want to read The Circle Tweets I'll just Read what They're Saying Basically Kind of Just They Okay This is A situation Where Not Circles I cannot Spell Today Apparently Circle We have Trending Buy Bitcoin Which is Good We have Trending Moonbirds Which is Also Good We have Okay so Yeah Update On this Oh yeah The biggest News Sorry I forgot To say I read This Circle Pretty much Updated And said They're Going to Pay for The hole From their Own Corporate Accounts So That's Kind of What pushed Everything Up So TLDR Circle Addressed This And then Let me Just Take a Look at The blog For you Guys The long Blog So So So They Kind of Clarify So USDC Is Collateralized For Combination Of Cash And US Treasuries Blah Blah Blah Blah Blah The Remaining 23% Is In Cash So They Kind of Clarify This Number Initially Yesterday During Their Tweet They Put 25% But With Around You Know How Things Work Before They Were Managing Around 25% Now They Clarify This Number To 23% And Then They Took Action To Reduce Risk Depositive By Melon And Other Institutions So They Kind of Protecting Themselves From Other Bank Failures And Then Yeah Yeah They Are Just Basically Opening Up With Draws On Monday Pretty Much That That's The Case Yeah So Here So This Is The End Part Which Is Also Quite Important So They Said However It Is Also Possible That Silicon Valley Bank May Not 100% Return And That Any Return Might Take Some Time As The FDIC Issues IOUs Receipt Certificates And Advanced Dividends To Deposit Holders In Such A Case Circle As Required By Law Under Stored Money Transmission Regulation Will Stand Behind USDC And Cover Any Shortfall Using Corporate Resources Involving External Capital If Necessary So Basically They're Saying Yeah We're Going To Cover It With Our Money And We Can't Cover It With Money We'll Try To Raise Money To Cover It Yeah I Guess I Mean This Is Something That We're Talking About Yesterday Right So Yesterday We Looked At The Numbers We're Saying You Know If If They I Mean Their Business Strategy Is Pretty Simple Right They Hold The U.S. Dollars And They Can Get Interest On It And Don't Give It Back To Anyone Who's Holding USDC Right Because That Would Be A Security But That Being Said That That's How They Make Money So They Just Make Free Interest Rates On It And You Know USD Treasuries So We Kind Of Roughly Calculate That With The Amount Of Money They Have Right And Making 4% On It Where We Saw The Number Was Around 400 Million Per Year So They Can Let Let Me Not Let Me Not Let Let Me See Okay So Let's Work Backwards From This Press Release So They Have 32 Million So 32 Is 70% So This One Divided By 0.77 Divided By This Alright So They Have 4 0.77 7 So I Might My Mouse My Keep So They Have 42 Billion Dollars And If They Have 42 Billion Dollars Times 0.04 They Will Be Making 42 Billion Sorry Put The Zeros In 1 2 3 1 2 3 1 2 3 Math Math Not So Great Today Wow That's A lot Of Money Actually So Yeah My Numbers Were Completely Off 42 Billion Let Make Sure That Is Right 42 Billion Dollars If They Make 4 Percent On That That Is A Lot Of Money That That That 1 1.4 Does That Make Sense Yeah 1.4 1.6 Billion Dollars If They Just Make Money On That That That Is Insane Yeah Chat Tell Me If My Math Makes Sense 42 Billion Dollars If They Get 4 Percent On That Yeah Wow That's That's How That's Some Good Business Right There It's Free Money Free That's The Epic Yield Alright Guys Sounds Legit So From The Profits They Can Cover The Hole So I'm Not Too Concerned About USDC At This Current Point Of Time But I Think The Biggest Fear Is We Do Know That The US Government Is Coming Hard At Stable Coins We Saw Be USD Being Classified As A Security So Will This Happen To USDC As Well And How Much Territory Does The US Government Want To Take From Here From Us In Crypto So That's Kind Of The Hard Part Stoo G Says That's About Right It's Good That We Did The Calculation Because That's That's An Insane Number So Guys Thank You So Much For Watching Today Make Sure You Click The Like Button It 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What's The Top Four Five Headlines And Decide If I Want To Act Today Trade Today Or Just Do Nothing Right So I Felt Like This Was Probably The Best Format To Kind Of Answer That And In A Short Amount Of Time I I Don't Feel Like Watching Half An Hour Of Livestream Fulfills That Role So Anyways We'll Try Out With These New Things I'll Put The Link Down Below For Box Mining Testnet For You To Check Out And Also Of Of Of Of Of Of Of Of Of Of Of Of 30 Minutes Prior To Starting Program You Can Please Bring Back Monday Night They Were The Best I Will Try Guys I Will Try That Actually Makes Makes Sense And D 107 Pre Market News Also Makes A Really Glad To See You Guys Again And Yeah I Also Have This Transition Guys Oh My God It's A Transition Wow I'm Trying To Play With OBS I'm Not The Best I Feel Like I'm An Old Dinosaur Sometimes Coming Back To These Dreams But Anyway Sorry For Making You Dizzy But That Is What It Is Yeah I'm Trying More Transitions From More Fun Things I'm Trying To Just 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