Losing Everything In Crypto | BANKRUPT
Published: 2022-07-08
Status:
Available
|
Analyzed
Published: 2022-07-08
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Consensus among Federal Reserve voting members is to implement another 0.75% interest rate hike, with only one member favoring a 0.5% increase.
"10 out of the 11 voting Federal Reserve members now want the next rate increase to be 0.75 percent again only one person voted to be half a percent"
Pending
The Federal Reserve will adopt a more restrictive monetary policy if inflation remains elevated.
"the consensus among the central bank is that they will have a more restrictive policy if inflation stays high"
Pending
The next Federal Reserve meeting on July 26th-27th is expected to result in an interest rate increase of at least 0.5%, bringing the federal funds rate from 1.5% to at least 2.0%.
"the next meeting is when they'll announce the next rate increase so the most interesting part is that right now our federal fund rate is 150 basis points which is fancy for 1.5 percent but come july 26th and 27th papa jerome powell has told us that the base case scenario not best case base case so the lowest that rates will increase is by at least half a percent"
Pending
There is a 96.3% probability that the Federal Reserve will increase interest rates by 0.75% at the upcoming meeting, rather than the previously discussed 0.5%.
"the truth is we're not going to increase by half a percent the fed is getting serious and it's going to increase by another three quarters of a percent in fact there's a 96.3 chance that the fed will do that"
Pending
Following the July 26-27th meeting, the federal funds rate is predicted to reach at least 2.25%, a 0.75% increase from the current 1.5%.
"well that's 1.5 but come july 26 27th it'll be at least at 225 basis points which is 2.25 which is a difference of 0.75 from where it is today"
Pending
The official determination of whether the US is in a recession will be made on July 28th, based on the advance estimate of Q2 GDP from the Bureau of Economic Analysis. A negative GDP reading will confirm a recession.
"by that point we will know whether we're in a recession or not because come july 28th at 8 30 a.m the bea the bureau of economic analysis will tell us the first estimate or the advance estimate of the second quarter gdp and if it turns out to be negative we are in an official recession"
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Voyager Digital has filed for Chapter 11 bankruptcy.
"voyager digital just filed for chapter 11 bankruptcy"
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A major cryptocurrency company, Voyager Digital, has declared Chapter 11 bankruptcy.
"this week we had a major crypto company declare chapter 11 bankruptcy"
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As of June 24th, Voyager Digital reported having approximately $137 million in cash and crypto assets on its platform.
"as of june 24th voyager put out a press statement saying they had roughly 137 million dollars in cash and crypto assets on their platform"
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Voyager Digital lent $350 million in USDC and 2,250 Bitcoin, valued at over $650 million, to the crypto hedge fund Three Arrows Capital.
"they lent out 350 million dollars worth of usdc which is a stable coin and 15 250 bitcoins worth a combined value of over 650 million dollars to a crypto hedge fund called three arrows capital"
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Three Arrows Capital lost all borrowed funds due to risky arbitrage and yield farming strategies, including an investment in the collapsed Terra Luna stablecoin.
"three ac three rs capital took that money and used it to arbitrage trade on a futures etf from grayscale and yield farm now an easier way to understand what i just said is they took that borrowed money and they played press your luck and they got triple whammy and they lost all of it because one of their investments was on terra luna which was a stable coin promising to pay people 20 annual interest per year which was just crazy and obviously that one collapsed"
Pending
Sam Bankman-Fried's Alameda Research provided Voyager Digital with a $500 million bailout loan.
"sam bankman freed and his company alameda research gave voyageur a bailout loan for 500 million dollars"
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Alameda Research is identified as the second-largest borrower owing money to Voyager Digital, following Three Arrows Capital.
"alameda research is listed as the second largest borrower right behind 3ac that owes money to voyager"
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Alameda borrowed $376 million from Voyager at an interest rate ranging from 1% to 11.5%.
"alameda borrowed 376 million dollars at an interest rate between one and eleven and a half percent"
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Chapter 11 bankruptcy allows a company to present a restructuring plan to creditors and courts for a loan, aiming to resume operations.
"when a company declares chapter 11 bankruptcy that's the equivalent of going to the courts and saying hey guys here's how much money we have here's how much money we make here's how much we spend we are in trouble now and we need a loan here is our plan to pay everyone back"
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The speaker predicts that Voyager Digital will eventually be acquired by a larger cryptocurrency company.
"i think that the way this ends is voyager gets bought out by a bigger crypto company"
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There is a possibility that customers may recover funds locked with Voyager.
"there is a chance that we could still get it back"
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The speaker hopes for the recovery of most of their crypto and cash holdings from Voyager.
"i'm hoping that we'll recover at least most of our crypto and our cash"
Pending