In a recent video on the “Cheeky Crypto” channel, Host Chris welcomes viewers and discusses the Bitcoin ETF and its implications for Bitcoin and crypto.
Chris provides a market update, noting that the total market capitalization is $1.25 trillion, down 1.87%. Bitcoin is priced at $34,162.37, up 14.69%. He highlights the value of joining Cheeky Crypto membership for insights and buys/sells recommendations.
Bitcoin ETF Potential
Chris discusses the potential of a Bitcoin ETF, noting that Bitwise CEO predicts $50 billion in capital inflow to Bitcoin within the first five years after launch. He emphasizes that institutional investment will take time to materialize.
Binance CEO’s Fall
Chris discusses the fall of Binance CEO’s net worth from $97 billion to $12 billion due to sanctions and allegations. He expresses skepticism about the allegations without concrete proof.
FTX Asset Movement
Chris reports that FTX has moved $59 million of crypto assets, including Chainlink, Ethereum, Solana, Polygon (Matic), and more to exchanges.
Hong Kong Reserve’s Stance on Crypto ETFs
Chris mentions that the Hong Kong Reserve has reversed its stance on spot crypto ETF investing, hinting at regulatory changes.
SEC Enforcement Actions
Chris discusses SEC Chairman Gary Gensler’s enforcement actions and $930 million distribution to harmed investors. He criticizes Gensler’s actions and his meeting with Sam Bankman-Fried.
Chris anticipates a market retracement and a major sell-off. He expresses doubts about Gensler’s leadership in the SEC. He encourages viewers to check out Cheeky Crypto membership and engage in meaningful discussions in the Discord community.
Chris thanks viewers for watching and invites them to like, subscribe, and enable notifications for future videos.