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✔️ Bitcoin is trading against a thinner float than last cycle.
✔️ Square to Enable bitcoin payments for millions of merchants
✔️ Kraken freezes its IPO plans
✔️ Citigroup has cut its 12-month forecasts for Bitcoin
✔️ Nobody is asking why Bitcoin rallied during a war.
✔️ UAE preparing to bail out banks?
✔️ SEC approves Nasdaq rule change to enable tokenized securities trading
✔️ Parti Conservateur du Québec adopts pro bitcoin resolution
✔️ Australia Senate approves Bill to Officially Regulate Bitcoin and Crypto in Financial Services
✔️ EU business wallet
✔️ FTX Recovery Trust will distribute billions to creditors on March 31, 2026.
✔️ Sources:
► https://x.com/david_eng_mba/status/2034143449931518194?s=52&t=CKH2brGypO5fEYTgQ-EFhQ
► https://x.com/bitcoinnewscom/status/2033967355483615732?s=52&t=CKH2brGypO5fEYTgQ-EFhQ
► https://x.com/coindesk/status/2034294086815875580?s=52&t=CKH2brGypO5fEYTgQ-EFhQ
► https://x.com/cointelegraph/status/2033996871312486790?s=52&t=CKH2brGypO5fEYTgQ-EFhQ
► https://x.com/capexbt/status/2034306253405700446?s=52&t=CKH2brGypO5fEYTgQ-EFhQ
► https://x.com/bitcoinnewscom/status/2034256774895686014?s=52&t=CKH2brGypO5fEYTgQ-EFhQ
► https://x.com/bitcoinmagazine/status/2034362873040777331?s=52&t=CKH2brGypO5fEYTgQ-EFhQ
► https://x.com/francispouliot_/status/2033938595086495857?s=52&t=CKH2brGypO5fEYTgQ-EFhQ
► https://x.com/ashcrypto/status/2033820857529704915?s=52&t=CKH2brGypO5fEYTgQ-EFhQ
► https://www.coindesk.com/markets/2026/03/16/australian-senate-backs-crypto-regulation-framework
► https://x.com/disclosetv/status/2034247802528612806?s=52&t=CKH2brGypO5fEYTgQ-EFhQ
► https://digital-strategy.ec.europa.eu/en/policies/business-wallets
► https://x.com/coindesk/status/2034310726093881708?s=52&t=CKH2brGypO5fEYTgQ-EFhQ
► DONATE TO HELP KEONNE AND BILL https://www.change.org/p/stand-up-for-freedom-pardon-the-innocent-coders-jailed-for-building-privacy-tools
✔️ Check out Our Bitcoin Only Sponsors!
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Good morning, good afternoon and good evening. Welcome back to the pleb underground. I'm your host, Bill. Hey, good morning, Roman. That's right. Let's take a look at what we're going to be covering today. We got a whole lot. I know it only shows five things here, but there's a whole lot more anyways.
All right. So Bitcoin is trading against a thinner float than last cycle. Sounds great. We're going to take a look at that square to enable Bitcoin payments for millions of merchants. We know about this.
But what's the overall feeling about it's Kraken Kraken is pausing its IPO plans. I'm not really surprised by that. We're going to take a look at that city group has cut its 12 month forecast forecast for Bitcoin. Say it ain't so.
Oh, no, the banks, the banks are not as bullish on Bitcoin anymore. Maybe it's time that we get a little more bullish. I mean us, not the banks. Anyways, the real header, though, today is why nobody is asking why Bitcoin rallied during the war. Fantastic. Hopi and a whole bunch of data points there. We're going to take a look at that. The UAE, are they possibly preparing to bail out the banks or have they already begun to bail out their banks.
We see approves the NASDAQ rule change to enable tokenized securities trading surprise there. We'll go over that and look at that. Some positive news out of Quebec, the party conservatorial du Québec adopts a pro Bitcoin resolution. Look at that.
Obviously, I'm talking about that because that's where I'm from, right? I'm a Montrealer born and raised and it's nice to see it's nice to see something happening there by way of Bitcoin.
Australia Senate approves the bill to officially regulate Bitcoin and crypto financial services. Again, more rails, quote unquote more adoption, so to speak, but really it's.
It's just about bringing everything under the government controlled framework, right? The EU business wallets. Yeah, we're going to take a look at that. We're going to take a look at that, right? The EU is going to facilitate you going to facilitate your business.
Just simply sign up and hop into our wall garden. Everything's going to be okay.
The Australia, the Australian Senate. Oh, no, sorry, guys, I already went through that. And then of course, FTX recovery trust is going to distribute billions to creditors. We're going to take a look. We're going to see what that actually looks like.
All right. Good morning, BTC moon guy.
Good morning, hard huddle. Good morning, silent lamb. Let's break in. Go. You guys know the deal.
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Okay.
What happened? I mean, I'm pretty sure the war is still going on.
Anyways, you know, let's do with the current Bitcoin fiat exchange, 69,302 new all time high on the block height, 941,317. Look at that.
Sats per V bytes. We're up like what was yesterday two or one anyways, for a full increase for sats per V bytes. Don't worry.
Coffee still affordable. If you want to waste your Bitcoin on coffee.
Total public lighting capacity 5,292. Okay. So we're kind of leveling back out. Who knows what's going on over there. I did notice yesterday on my ambass interface. There were a lot of channel opens.
Is that really what it takes for sats per V byte and then all of a sudden people get afraid like that's that's not going to do it. That is not going to do it at all.
Alright, let's let's dive into it guys. Here we go.
Actually, hold on. Let me change this.
There we go. Alright, so the inner float liquid supply on exchanges the clients. Okay, here we go. This is.
Everybody loves this. I don't know why this this the whole idea that there's going to be some type of liquidity crunch or something like that with Bitcoin all of a sudden.
And again, this is part of the sams and malhopium that's been going on for years.
Managed to get people to buy into this idea that all of a sudden we're going to wake up one day and Bitcoin's going to be up like, you know, 60, $70,000 or $100,000 in one shot, you know, a value and be like, oh my gosh, you did it.
Yeah.
Alright, but I always love he's my favorite this David account is my favorite hope you account. I love all the fancy buzzwords that he used makes me feel really good about modeling my Bitcoin. Here we go.
Bitcoin is trading against a thinner float than last cycle. Yeah, we'll take a look at that. Okay.
BTC on exchanges has fallen from about 3.2 million at the 2021 peak to about 2.73 to 2.74 million. Okay.
That's about 460,000 fewer Bitcoin on the most liquid trading venues more coins mind less immediately for sale. Bitcoin is being repriced against a smaller liquid supply bullish.
At some point this float meets aggressive demand. That is how squeezes starts.
Look, I appreciate that. Obviously, I wanted to imagine that that would happen to you got to keep in mind, right? Like, I mean, I came into this space.
Before I actually started hodling Bitcoin and I was using it was about like 2015, maybe late 2015 or early 2016 something like that.
And we have been hearing that there was going to be these squeezes already back then just wait to see what happens. There's only 21 million coins.
There'll be a massive squeeze 11 years later, guys, still waiting for the squeeze.
I guess maybe this time it's different. I don't know. Anyways, for perspective, right? Let's go back six years around March 2020.
It was estimated that the exchange wallets held between 2 million and 5.5 million with 4 million often being cited as a middle ground.
So in other words, in six years, there's been barely any change. And you could even argue that the reason why there's slightly less Bitcoin on the exchanges is because the nominal value of Bitcoin has gone up.
So I know this sounds crazy. But if it's worth more people sell less of it because they're able to get more money, right?
They're extracting more dollar nominal value out of less Bitcoin. So short squeeze liquidity squeeze all of these things. I mean, obviously not a short squeeze, but liquidity crunch. I just don't see it guys.
I'm sorry. Look, I want to see it. Believe me. Believe me. I want to see it. Think about it. Right? I'm a hotler. Don't you think I want to sit here on the show and be like, guys, 100k candle. It's amazing.
Sorry. That type of shit's what gets us gets us wrecked. Yeah, absolutely CP always waiting for the squeeze man. Any day now again, you know what?
You know what's one of the most powerful memes in Bitcoin? That's not even a Bitcoin meme. The skeleton at the bottom of the ocean, right? Just sitting there in the chair.
That is like the most effective meme in Bitcoin waiting for all these narratives, you know, just the frickin dead skeleton at the bottom of the ocean.
Yeah. There you go. Life gets cheaper in BTC. So you need to, I mean, like it's logic and for some reason, these opium dealers, they try to sell you this, this slop.
Unbelievable. Anyways, all right. Continue. Let's keep going.
Let's keep going. All right. Let's the square stuff. Right? I am seeing a lot of mixed mixed responses about this. You know, of course, you've got, you've got people that who want a shit on Bitcoin that are going to tell you that, oh, look, it's all this centralization.
And all that stuff. Yeah. On, guess what? Okay. There's tradeoffs as things grow. Okay. There was never any question. Like that's the thing. Like when it comes to Bitcoin, tradeoffs have been the discussion.
Ever since I've started learning about Bitcoin. So this whole idea that like all of a sudden, oh, no, this is going in the wrong direction. That's just nonsense.
Yeah. Play a space boy. I got to tell you, man, if we see that number, I don't know what I'm going to do in order to get more Bitcoin.
That's pretty much where I'm at. That's pretty much where I'm at. Anyways, hey, good morning, Phil.
Okay. So Roman's still of the that we bottomed. All right. I'm going with Romans. I'm going with Roman's assessment.
Not it's not play a space boys ultra bearish 25k, although I know that we can be bigger bears. I remember that that that green bird guy there doom burger, whatever his name is, he was looking for 5k Bitcoin.
Right. He wanted 5k Bitcoin. So he never ended up getting it. All right. So anyways, square is going to auto enable the Bitcoin payments on March 30th.
The change means millions of businesses using square could soon begin accepting Bitcoin by default. The rollouts part of blocks broader push to integrate Bitcoin payments across the ecosystem, but just keep in.
Just keep in mind. Oh, that's okay. Even if even whether you're joking or not, it's fine. I think it's awesome.
We need all these different narratives. I love it. There was some other guy in a space like two weeks ago that was like something about like 12k, right?
And there's even people that sit there and talk about like the what is it the the CME gap back down at like $1,300.
It's good times. It's good times.
So the only piece that I want to mention though about this right like I do think it's a good thing.
And what they are doing to kind of facilitate this rollout is that for the first year, if I'm not mistaken, the I think it's the transaction fees that are waived for the for the merchant.
So I talked about this already several months ago, but yeah, I mean, like look, I think it's in the right direction.
Anybody who's pretending that there aren't trade-offs, okay?
You're just doing yourself a disservice, right? There was always going to be trade-offs pretending that Bitcoin was going to be everything to everyone at all times.
That's just illusionary bullshit, plain and simple.
All right, let's get into the exchanges that are delaying their IPO. So look, if whatever reason you're surprised that Kraken is delaying its IPO due to difficult market conditions, like look, their goal.
I know that for whatever reason that there's some people that want to believe that these businesses, right, when they go public, they, you know, they're looking to provide liquidity essentially for the money or the shareholder.
That assisted them in their first rounds of investment, right? Like there's always an A, B and a C round, right, where they get these private investors to give them money.
You know, companies like Swan did that and I'm sure Naka did that and stuff like that.
So those investors in order to be able to exit their positions, okay?
These companies have to go public and once they go public, the insiders, so to speak, get to sell their shares.
So right now, obviously, if Kraken were to go and go public, they're going to get a much lower valuation, which is to the, again, if the business, if the business itself is on firm footing and growing, then that would be to the benefit of the market being able to scoop up shares at a lower price, right?
But that would be to the disbenefit of the insiders trying to sell. And of course, the insiders are the ones who, quote unquote, help the company grow. So therefore, that sale is going to have to be more timed with better market conditions.
So this should be no surprise, but this doesn't mean anything in terms of Bitcoin.
Speaking of things that don't mean anything to Bitcoin, city group is cut. It's 12 month forecast to 112K. You know what, city, get me to 80K right now, okay?
These guys sitting here without 112K. This isn't last summer. Okay, that's not where we are.
An Ethereum at $3,100 in change. Anyways, who cares about it? But yeah, it's just giant nothing burgers.
Now, of course, they're saying 112K, 12 month forecast. Then puts us at next March. Okay, let's see if we're at 112K by next March.
Highly doubt it. I highly doubt it. Hey, good morning, Knoxville. Good morning. All right. So the big question, right? Nobody's asking why Bitcoin rallied during the war. The answer is Iran.
I don't know if I necessarily buy this. Anyways, Iran mines Bitcoin for $1,300 per coin. The cheapest on earth. And that anyways, that is a, I don't know if I necessarily believe that narrative.
The IRGC runs the operation. Every coin gets sold to fund imports and bypass US sanctions. That there is evidence for.
They've been dumping tens of thousands of BTC on the open market for years, constantly invisible sell pressure. Then the US bombed their power grid, mining went off offline overnight.
The ash rate dropped within hours, the sell pressure that nobody knew existed just vanished. The US accidentally made Bitcoin more scarce by bombing the world's cheapest mining operation.
And nobody is connecting the dots. I think this is very far fetched. I look, I appreciate the hope and I appreciate the story, but the thing is is that the war is still going on.
And if any of this was true, then we would have gone significantly higher. So I just, I don't know, I'm not there. Yeah, I agree, Roman. I think that that's total BS as well.
So let's see here the idea that a sudden US strike accidentally removed massive hidden sell pressure and caused Bitcoin's rally during the ongoing conflict is overstated and not the primary driver hash rate data and an analyst consensus point elsewhere. Yeah, yeah, I, I can't disagree with that.
You know, like it's, it is just, it's ridiculousness. Okay, let's just see here.
Because there's a whole bunch of nonsense, right?
Interestingly enough, AI does agree with this that it's approximately $1,320 USD, making it one of the cheapest places globally to mind.
And it's because of government subsidies, which obviously is unsurprising.
They're paying like a quarter of a cent per kilowatt hour.
Interesting. Anyways, all right, sorry, guys.
I just don't think it's Iran alone. That's, that's my point, right? My point is that it's not Iran alone. It's, it's multiple factors all coming together.
And anybody who's going to try to tell you that it's this one thing guaranteed.
It's just, it's just a narrative. It's just a hope you're narrative. That's all, that's all it is. Okay.
Moving on, moving on, the UAE is preparing to bail out their banks.
Oh, yeah, yeah, Roman. Yeah, I don't have a choice.
Because I want to know, right? It's like, because again, it's not a, you know, it's not about believing some fantasy.
Right? It's, it's about, hey, okay, let's figure out what's accurate, you know?
The only thing. The one thing I always, the only thing that's nice, but you could have just said it's the only I'm fine with that.
Anyways, all right, let's do it. UAE Central Bankers approves a financial institution resilience package backed by AED $1,270 billion
aimed at boosting liquidity and reinforcing banking stability amid global market stress.
Officials emphasize the system remains strong with high reserves and no material impact to banks. Of course, the reassuring everybody.
Business is usual. Everything is fine. What's actually happening, right? That's what we want to know.
So as of March 2026, the UAE Central Bank is implementing a financial resilience package to support banks rather than a traditional bailout. Exactly.
We could have just shown this. We could have just shown what you said. It's all it is. It's just money printing. But look, they can call it whatever they want.
Call it whatever they want. It's a bailout. That's fine. That's fine. Every, every country needs to do what, what it's got to do. And if you, you have any takeaway, right? It's this.
The government debt worldwide of all of these governments that produce all of this fiat money. There's one trend up and to the right. That's it. It never ends.
So it doesn't matter what stories they tell us. Like, oh, yeah, you know, we got to keep the banking system resilient. Oh, we got to help this. Oh, we got to help that. Listen, they were going to print this money anyways. It doesn't make a difference.
It's just now, hey, at least we get to put the story on top of it. Now we give it a reason. Instead of just making it look like we're incompetent and that we were going to be printing this money all along.
You know, so just something to think about.
All right. The SEC approves the NASDAQ rule change to enable tokenized securities. That's right, guys. As of March 18th, you know, I am, I am of the belief, I am of the belief that tokenized securities might actually be what kills.
Let's say what kills shit coins, but the more I thought about it, the more I'm like, maybe, maybe what it does is it ends up leveling out the playing field. And I know to those of us who are in the space, it's obvious that shit coins are a giant scam casino.
But to the average, you know, I guess to the average person who is not well versed in this stuff, maybe to them, it's not. So maybe the fact that tokenized securities start trading 24 seven.
They start to realize the real big difference, right, that you've got equities, which are based on their earnings, which again has their have their own problems. I'm not trying to show that shit to you.
Okay, but they are of a higher quality.
Then tokens, then shit coins, altcoins. So I don't know, maybe this levels the playing field.
You guys thoughts, maybe levels the playing field.
First nation state to turn on their money printer and exchange all their nation's worthless fiat into BTC wins.
Think about that one a lot, right? I do think about that a lot because I, of course, you guys have heard me say this thousand times, you know, that I don't believe that any, any country is, you know, is actively going to buy Bitcoin in a meaningful way.
Now, of course, that I think it I've already proven that wrong myself with, you know, with updates, we've seen there's countries like Bhutan countries like Kazakhstan, right, they are mining Bitcoin. Now, of course, you know, you could argue, well, they don't have the military might that the US does, right?
So the US can just simply take Bitcoin by coercion and violence.
But I am curious.
I wonder, doesn't that make their fiat lose even more value? I think so. I think it, I think it actually is an acceleration, right?
Because essentially what it does is it, the government ends up showing their hand in saying we know that our money's worthless.
Now, I don't disagree with you, Phil, but I'm wondering how that plays out, you know, I am curious how that plays out, even if it plays out.
Anyways, interesting stuff, always interesting stuff, guys. Okay, let's dive into the Quebec stuff.
I was actually really happy about this and I'll explain why after. So here we go.
At its national congress, the party, conservatel du Québec adopted a resolution that makes it one of the most probit coin political parties on the planet.
I love his bullishness all the time. And it's bull bit coin, of course, developed with advice from collaborators at bull bit coin.
No obligation to declare Bitcoin holdings, no tax consequences for payments and spending in Bitcoin, lifting of moratoriums and obstacles for Bitcoin miners.
The party conservatel du Québec from its very beginnings has counted among its active militants several entrepreneurs from the Bitcoin ecosystem.
Finally, we have a clear provincial policy that removes barriers and frictions to Bitcoin adoption in Quebec.
I like to see that. I like to see that.
Okay, going back to the previous point, Roman, if you are the first, it will work. Yeah, maybe it will.
We're going to see it, though. We are going to, I do think we are going to see it happen.
I just don't know how that plays out, but going back to the Quebec news.
So why am I excited about this? So if you know anything about Canada and you know anything about Quebec specifically, you know that Quebec has a provincial party called the Palthique Biquat,
which essentially has a stronghold on that province and more specifically the provincial government of Quebec.
Okay, and not that I want to get into a whole long diatribe about the government over there. However, okay.
The party conservatel has never really had that big of at least not in my lifetime has never really had that big of an impact in Quebec.
Yes, it is, right? Sydney, but new, you know, like, so I'm kind of happy to see this that the conservative party is like, you know what?
We're going to go the route of Bitcoin because it's essentially it's always just been this battle between like the block and the liberals and it's just like it's just boring.
You know, it's like finally somebody's shaking the tree. Let's do it.
Anyways, good luck to you, Palthique, and Selvete. I hope that you can do it. It'd be nice to see a change in Quebec.
I'm rooting for you guys.
All right, let's dive into the Australia stuff. Australia Senate approves the bill to officially regulate Bitcoin and crap dough in financial services.
So the Senate's economics legislation committee said in a report published Monday that the proposed corporations amendment bill 2025 would modernize digital asset oversight with traditional market safeguards to protect consumers.
The proposal targets firms that hold digital assets on behalf of customers, bringing them under existing financial services rules instead of attempting to regulate the underlying blockchain infrastructure should the measure become law.
Excuse me, firms without an AFSL would be given six months to obtain the required authorization and comply with the new framework.
You're going to do it's told. You're going to do it's told. I mean, look, no surprise, right? No surprise there. Obviously Australia doesn't want to get left behind. They want to make sure that they are crossing their teeth, dotting their eyes and keeping all of the economic activity in the wall garden.
No different than any other country. Just the way it works, guys. It is just the way it works. Okay.
This is some funny shit. I got to tell you Europe launches EU Inc. The 28th regime, a fully digital framework that enables entrepreneurs to create and register a business anywhere in the EU with their data.
I had to do some diving into this, but we are going to watch this video first. Okay. Here we go.
Comes EU Inc. The 28th regime. EU Inc. creates a single European company framework. It is one simple set of rules that works across our entire single market of 450 million consumers.
It will make it drastically easier to start and to grow a business in Europe. Any entrepreneur will be able to...
It's going to be easier because of centralization. And what is centralization introduced? It introduces, right? It introduces counterparty risk, but what else does it introduce?
It introduces the aspect of a honey pot, and in this case a growing honey pot.
To create a company within 48 hours, from anywhere in the European Union, fully digitalized.
You're going to get convenience. All you need to do is put on the handcuffs. Okay. But you're going to get the convenience.
For less than 100 euros, and without minimum share capital. And at the heart of this proposal is one simple principle that says once only.
Companies will provide their information to public authority, their data, one time only. And that information will then be shared automatically between relevant administrations.
You can trust them, okay? This is a whole lot of trust me, bro, technology.
We know the funny thing is, even if she didn't say that it was going to be shared, the narrator, it's going to be shared, whether you want it to be or not.
From business registers to taxes, to social security, authorities, you just name it. And this information.
Everybody's going to have your data. You name it. They've got it.
You will be stored and easily accessible in a new EU business register for EU ink companies. Now the second feature at its core, EU ink is digital.
EU ink companies will operate in a fully digital environment, from registration to shareholder meetings, from document storage to capital operations.
It will all be supported by the new European business wallet. So companies will be able to manage their documents and communicate with other businesses and administrations fully digitally in all 27 member states.
Yeah.
So who sees everybody's data getting exposed and compromised maybe within the first like three to five years of this thing rolling out?
And I'm being generous. I'm saying three to five years just because I want to make sure that I can cover the range.
You know, so now let's dive into this thing that that she's talking about right. So the business is opting for the wallet. Okay, they're going to be able to digitally check the identity of others immediately and prove their own instantly create store and share documents that they can trust such as a verified such as verified licenses permits certificates and more digitally signed timestamp and seal documents delegate others to act on their behalf in legal capacity.
Communicate with other businesses on public administrations via secure and efficient channel. So that's insane. Right.
So that means all of your communications is going to be happening within this gate within this little walled garden.
Yep. Yeah, man. I see that too. Money that expires. Right. We already have credentials that expire. Right. It's going to be the same thing. This is going to be the same thing.
And I say credentials. I'm talking about like your license and stuff like that. Like that should expires. Right. You know, your passport, your passport expires. You got to go back. You got to renew it.
Yeah. Yeah, they did absolutely. They love socialism until it's implemented because it sounds amazing. Everyone's going to get their fair share. Right.
Redistribution of wealth. Nobody knows what that really looks like. But look, it's like look at history. Go back and read what happens to these people. So what that you get like five years of happiness. Right. So what?
The rest of it is garbage. It's all done on purpose.
And then of course, we all know what ends up happening. Power and control consolidates into the elites as always.
So by representing one unique digital identity and a single channel of correspondence with governments across the EU businesses will have. And this is one of my favorite lines.
Businesses will have 26 times less hassle when operating everywhere in the EU. Now I am obviously incredibly curious how they reached that number.
What do you think that they measured to get this 26?
I'll tell you this. I'm pretty sure that all they did was they had a they had a committee that tried to figure out what number would be believable.
Not too over the top, but at the same time would signal that it's worth while to do.
I mean, look, I've sat in boardrooms with this kind of bullshit messaging. Okay. So I like, I mean, this is what happens.
It's like, how do we spin this? You'll sit there. And that's what happens. How do we spin this?
Now, they don't want to make it too obvious. Right. 33 or 23. They can't use those numbers. They can't use 33. They can't use 23 and they can't use five.
Okay. But they can definitely use 27 minus once.
Yeah. That's right. And we all know what comes next when they run out of the money. Right. We know what comes next.
It's freaking brutal.
All right. So let's keep going because this is actually worse than we think. After adoption, all levels of public administration across the EU.
So this is the fun part, right. All administrations across the EU, including EU institutions, bodies, and agencies will have two years to implement the use of the business wallet.
So at first, it's like, you're not really mandated to do this. This is opt-in. But then guess what? You've got two years to comply. But wait, there's more.
The commission will work closely with member states and the private sector to define technical standards and requirements for the European business wallet. Now, it's interesting because the private sector is currently not mandated to use that product.
But yet, they're working closely with them to define the standards because guess what? You are going to be required to use this. Everyone will.
Companies will not be obliged to use the European business wallets, the regulation places, obligations solely on public sector bodies to accept its core functions while companies remain free to decide whether to adopt the wallets for their commercial operations or interactions with public authorities. And guess what?
What ends up happening in those situations is that a certain set of circumstances arise. And then there is a perceived increase need in order to onboard everyone immediately into this.
And that's going to come. That's that that is going to come. This is always how it starts. If you didn't catch that the over 10 window is simply shifting as I'm reading through this.
Then I don't know what to tell you. But that's exactly what's happening, right? That's what they always this is what the government's always do rest assured you're not going to have to you are not going to have to comply to this.
This is only for this sector, but once they see how it works, which of course the intention was always there. This was always what they were going to do, but it has to do with the framing, right? Because you can't just force people into stuff like that.
You need people to think they're making their own decisions based on based on data that they're seeing.
Anyways, it's just it is just absolutely brutal. You think 26 would a piece mollock though?
I feel like 33 would, you know, it's a lot closer to the, you know, it's it's got the the Masonic number, the skull and bones. Actually, wait, skull and bones is 32. So wait a second. That's not even 33.
All numbers are isoteric. He knows that though. Anyways, all right, let's continue FTX. Yep, right on time, huh? Right on time. We've got the, we've got the Iran war. You've got Bitcoin that pulled back all this stuff right where we're kind of like, you know, people are just kind of settling in mentally that just maybe this time is not different at all from the previous cycles.
And right on cue FTX recovery trust will distribute approximately 2.2 billion to creditors, but have no fear because they have no Bitcoin.
None of the approximately 2.2 billion dollar fourth payout will be distributed as physical Bitcoin the FTX press official announcement and related court filings confirmed that all distributions under the chapter 11 plan of reorganization are made in cash.
So there anybody who's telling you that bunch of Bitcoin's going to be sold from FTX or whatever it is. Nope, none of that's happening. It's all cash payouts.
And I got to tell you what's really bad about those cash payouts.
The USD is valued at the 2022 petition date price. It's not current crypto market price.
So these guys are like they waited like four, it's like they waited like four years and then and then got kicked in the nuts, which is I'm not laughing at them. I'm laughing at the the insane stupidity of this entire system, right?
Yeah, totally rugged. It's unbelievable. So you're waiting all these years and you're getting cash, you're not even getting the Bitcoin that you left over there that they stole from you.
And you're getting nominally kicked in the nuts with number one, not even keeping up with inflation and number two using a nominal value from from four years ago. So this is absolutely brutal.
That is brutal stuff, guys, brutal stuff.
An SPF deserves to be in jail.
But you know where I'm going with this guys, these guys do not deserve to be in jail. All they did was write privacy preserving code and they pissed off the government.
They pissed off the government by helping people maintain their privacy. Please, if you haven't signed the petition, consider signing the petition.
If you decide you'd like to donate, please consider donating to these guys because unlike SPF, they did not, they did not rug pull a whole bunch of people.
They did not steal a whole bunch of people's Bitcoin. They didn't steal anybody's money or any of that shit. Okay, all they did was write privacy preserving code.
That is going to do it for this episode. Thank you very much for joining me guys. Have a great rest of the day and I will catch you all tomorrow.
Oh, yeah, tomorrow's Friday.
Yeah, today's Thursday.
Don't have a guest. Don't have a guest tomorrow. We're going to be doing the news, but that's, yeah, that's about it.
And I'll give you guys a teaser already for next Monday night, Bitcoin tonight.
So obviously we're going to be talking about Bitcoin, of course, but as you guys saw with the last episode, right, we're trying to shift and then just talk about more, you know, just like more stuff that's on our minds that that's not just Bitcoin, but Bitcoin related.
And so all Rick and I, because humble is not going to be joining us this week.
We are going to be discussing Holly weird. That's right. That's right. We're going to go into some weird shit, right?
We're going to go into like the occult stuff behind Hollywood. If anybody, if anybody has ever heard of movie director Kenneth anger, right, he made a lot of occult based movies back in the in the 70s.
And there's like there was another one, one of these really weird movies called holy mountain, holy something else. And I forget who the director is for that. But anyways, we're doing the research guys.
It's going to be weird. It's going to be a really weird rabbit hole. Anyways, I hope you join us. That's going to be next Monday. And of course, I'm back tomorrow. Have a great rest of the day.
Hey, get easy.



