Don’t Miss Out – Take Immediate Action! MetaMask Poses Risk to Your Crypto! An Enormous Exchange Closure Imminent!

In this content, the speaker discusses various updates and news related to cryptocurrency exchanges and wallets. They mention that individuals should consider moving their crypto from certain exchanges due to government subpoenas and taxation policies. They also highlight the implementation of Know Your Customer (KYC) requirements by the IRS in 2023 and the closure of the crypto exchange HotBit. Additionally, they mention that another exchange, Huobi, has been ordered to stop operating in Malaysia. The speaker also briefly mentions a missed debt payment by DCG to Gemini and an alleged failure by Genesis to return assets owned to Gemini.

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Get ready to move your crypto if you have your crypto in these exchanges hot wallets cold wallets

We have a lot to cover here today

I want to cover this

I’m not trying to fear-monger or anything like that

But I need to bring you some updated news

Because there’s been a lot that’s gone on in the last 24 hours

As you can tell I’m back in the office

It feels great to be back

Bitcoin Miami was fantastic

I actually came away with some pretty good insights

I think that I hadn’t thought about before

I just published that video yesterday

Not too many people watched it but that’s okay

If you want to see future videos like that hit subscribe

Turn that Bell notification

There are links underneath the video in case you want to know what I’m buying and selling

As well as you can see crypto hasn’t really been moving too much

The overall market’s up 0.2 percent last 24 hours

But two of my top holdings my two larger stock holdings

Have done extremely well recently

Tesla up 3.65 here today

Last week up 13 last month 15

In the last six months 10

But year today up 72 percent

Google also up two and a half percent here today

Eight percent less in the last five days

Eighteen percent in the last month

Year to date up 41

If you want to see what I’m buying and selling not just in crypto

But also in stocks because my stock portfolio is actually larger than my crypto portfolio

You can check out the link underneath the video

And I know that there hasn’t been a lot of alpha in crypto recently

I mean if you were in on some meme coins you could have done well

But overall there is something that I’ve told you about that I have an update on

And that’s an NFT called Commonwealth

A project that has some pretty big backers

Has a lot of people excited about it

And recently I told you that you could get some free NFTs

If you haven’t already done that you could sign up for that whitelist underneath the video

We’re gonna check tomorrow

Everyone that’s registered on the whitelist who mints could have an opportunity to get a free NFT

We’re going to actually do 10 free mints

Free NFTs

So there are 10 people that already signed up

So at this point if anyone that’s on that whitelist mints their NFT

They probably will get a free NFT

But again if we get more people then there the possibility could go down a little bit

So if you haven’t already signed up for that

I’ll put a link to it underneath the video

Definitely consider it because it could be some pretty good free money for you

So first thing I think we need to cover obviously

We talked about Ledger a lot recently

Last week came out that basically if government entities try to subpoena them for information

And you’ve signed up for this program that they have that allows them to get parts of the seed phrase

They will comply with the government

We know that to be the case

So I suggested people move over to Trezor

Everything’s open source

They don’t have a product like this

And well some people will find that product beneficial

Other people will think that they’re crypto safe and then it could be subpoenaed

We also got news MetaMask new terms and policies state that they may be withholding taxes

They reserve the right to withhold taxes where required

So if you have money on MetaMask maybe you want to take it off

Personally I plan on paying my taxes so I’m not too worried about this right

I still think MetaMask is super useful as a hot wallet

But if you’re someone that really wants decentralization from governments

Maybe you want to move out your crypto from MetaMask

There’s also news IRS is going to implement KYC requirements for all cryptocurrency projects in 2023

For cryptocurrency exchanges

If you’ve gotten your crypto on an exchange without KYC

It looks like they’re gonna have to update otherwise they’ll be out of compliance

They might have to get kicked out of the US as they’re already doing with a lot of projects

A lot of people aren’t liking this

A lot of people hate the regulation that’s coming

So if you’ve gotten crypto off great

If you’ve done that without KYC that’s probably even better

So the government doesn’t know exactly how much you hold

But the times are changing here

So if you want to get Bitcoin that’s not tied to you

This is probably the time to do it

We also got news of a couple other crypto exchanges in hot water

Crypto exchange Hotbit shuts down nine months after criminal probe

Now we don’t know where this criminal investigation started from

Like what country did this

But it was open last August

And Hotbit suspended deposits withdrawals and live trade for several weeks

Because authorities froze their operational funds

They are now shutting their doors

They’re stopping all centralized exchange operations

From today on

Now you have about one month to withdraw your crypto if you have it on here

Now this is a pretty large exchange

Like in the last 24 hours they processed 109 million dollars in crypto trade

So nothing compared to Binance but still large

We’re talking 100 million dollars in 24 hours

They’re making a lot of money

They said to withdraw assets before June 21

Now the reason that they shut

There were allegations for misconduct of a former manager

But they said that part of it was that they had cash flow issues

After the collapse of FTX

As well as the banking crisis resulting in USDC’s brief depegging

And they had a lot of outflows happen around that time

And then they also think it will become difficult in the future with global regulations tightening

So they basically just don’t want to play this game anymore

Trying to get out when it’s good

It sounds like

Now there’s another exchange that has been ordered to stop operating in Malaysia

So by the way if you haven’t already taken your crypto out of Hotbit

I would suggest it

Even if you don’t have crypto in there

I think it’s important to cover these things

Because we can see exchange after exchange blowing up

Shutting down

Shutting their doors

They don’t want to have to go through all this regulatory tightening

Recently Huobi is also ordered to stop operating

This is in Malaysia

They say that the Securities regulator has taken action against Huobi and their CEO

For operating a crypto exchange without prior registration

They say that they’re operating illegally

Agency first placed Huobi on its investor alert list last year

For operating without registering as a recognized market maker

Viewed a serious offense under their Securities Act or their Capital Markets and Services Act

They said that they should stop all activities in the region

Disable its website and mobile apps across the platforms such as Apple and Google

Place Google App Stores

And must stop their promotional activities

So another company shutting their doors

To a country

It’s obviously very difficult to work in all these different countries

To be clear even a large company like Huobi

They have so many different countries that they operate in

So many different states

So many different things that they have to comply with

It’s no wonder that some of these countries kick out different exchanges at different times

Now DCG just missed 630 million dollars of debt payment to Gemini

At this point

We know that Gemini Earn was tied to Genesis

And it seems like they’re trying to decide basically whether they want to give them more time or crack the whip

And try to restructure their deal

They owe a lot of money

So Genesis allegedly failed to return more than 900 million dollars of assets