BREAKING: SEC Calls NFTs Securities...!!!!! OpenSea Notice!! Harris New Tax Plan! $2.6 Bill Binance!

where do I even begin this morning ladies and gentlemen we have another jam-packed daily market update for you and there is so much to cover in regards to what's taken place over the past 24 hours we're going to be starting the video off by looking at Camila Harris's proposed taxes in regards to corporation tax capital gain tax none realize gain tax now this is relevant because I think crypto is going to offer some of the best Roi from an investment point of view in regards to what's going to be a generally flourishing time for risk assets and we have to ultimately contend certainly with capital gains tax um somebody like myself who owns a corporation has to deal with corporation tax I'm sure many of you do and of course potentially depending on how this election goes a dreaded unrealized gain tax which I don't think is going to do much good and of course it's going to have real ramifications for the markets um we'll look at a quick clip from CNBC discussing this then we're going to be talking about the continued Onslaught from the SEC versus the cryptocurrency industry open c a non-fungible token platform essentially received a Wells notice from the SEC uh threatening to sue us because they believe nfts on our platform are securities we're going to be looking at what the CEO has to say about that then something very controversial in regards to there was reports yesterday that 44 1,88 Bitcoin um was essentially withdrawn from binance over the past 24 hours hours this is worth about $2.6 billion lots of people speculating where this came from and there is news from Simon Dixon um who we're going to look at a tweet that says a few points on the binance Frozen crypto wallet situated uh situation as I know um the case well uh and I delve into the details it's talking about how binance may have Frozen funds related to Palestine um and also again we'll be very objective here and we'll look at Richard Tang's reply to this um who he's essentially coming out and saying that look binance kind of operates as a bank we have to apply by certain rules and pressures uh that are put upon them um so we will be looking at that and then we'll be looking at Bitcoin you do have the dollar at support remember we've got that broader thesis on the dollar which is what increases Global liquidity we've got this beautiful picture setting up in regards to the cryptocurrency space um before we get into all of this a little bit of housekeeping with very very quick approaching 100,000 subscribers and I want to say a massive thank you to each and every one of you that have been supporting me for as long as you have it means the absolute world to me and we want to do something big for charity for 100,000 Subs I have a a couple of ideas in my mind but I also want some suggestions from you guys if you have any suggestions on specific Charities or um age you think we could get involved with do let us know in the comment section we are going to be exploring them and ultimately doing something for 100,000 Subs um that we're absolutely honored to have the privilege to do uh also in regards to my patreon we are at a point now where we have over 400 members and we are going to be capping the sort of early bird patreon access certainly as this bull market is really about to get underway for the altcoin in the coming weeks and months if you are looking to become a patreon do dive in um it's well worth the membership in my opinion and of course do go and catch upon last night's ad hoc meeting where we answer all the questions from the community and we look at things broadly the altcoin market all very positioned very well you know you've got stages to a breakout one is that you break out of your base and then there's very typically a retest which many altcoins are currently at that position which aligns with what we think generally is to come next for the markets and but do go and check that out so we've got a lot to get into we've rambled on for three minutes now as we always like to do let's start things off with some slightly Doom and Gloom news in regards to um some tax proposals from Harris now I would say my own personal opinion is from an outsider not an americ I'm a UK citizen I've lived in the UK all my life I think Trump is better for America that's my own opinion and many of you may disagree with that that's okay that's perfect I'm glad that we have opposing um views on things because if everybody thought the same thing the world would be awfully boring and we' probably have not a lot to talk about okay however there's lots of people out there that are rooting for Harris and that is their own decision now we're highlighting this from more of a market point of view and of course my my reasons for liking Trump there there's many but one perhaps is of course his views on the markets his economic views I think they're better than the oppositions again just my own opinion I'm not here to argue with anybody um it's very interesting that we are getting reports that Harris is essentially looking to up corporation tax from 28 or 21% to 28% capital gains tax to 40 4.6% so that means when you sell an investment you made a profit on it you are going to pay half of that but any mind in the UK the the vast majority of us are already paying the higher tax bracket because we've been pushed into it that 40% tax bracket was introduced as a super wealth tax it's interesting how now nurses and and really hardworking um honest individuals are now in that sort of tax and then also Implement something which is an unrealized gain tax which is going to see you taxed on your unrealized gain so if you have a position that is up a million pounds you'll give 50 million to the government now I don't know whether this is going to be annually there's lots of ifs and buts that I can't answer we're going to stay as a political as possible but there's going to be ramifications on the markets one positive that you can perhaps derive from this if there are any is that well if they're planning on taxing people on capital gains to a higher degree and also unrealized gains well you can kind of surmise that they think the markets are going to continue to do well and they've got a vested interested in in making that happen for tax revenue and we know that there is a planed demolition of um the F systems ultimately to drive everybody into poverty so they're they're taking from you from both ends um and it's not just America um that is that is doing this also in the UK we had K starma come out and say that in October we better we better get ready for a very tough bill um which I can pick so many holes in it's unbelievable and this is what the game is all about ladies and gentlemen it's it's basically all about hollowing everyone out their their idea of equality is everybody equally poor and then and then a literal ruling class a pharoh esque kind of clask over the the the the the the everybody else um and and they use various tools to do that taxation is one of them inflation is another one it's a kind of tax if you will but this of course going to have large ramifications um I had a good discussion in my patreon actually about this lots of good views brought forward lots of questions to be asked lots of ifs and buts also so is Camila going to win potentially who knows I couldn't really say um but this would I think be pretty detrimental to the markets generally um but also what's the alternative for people living in America um and I know you know I'm at a stage personally where I am genuinely considering leaving my homeland um because I don't think I am best served here to be honest and I'm fortunate enough to be able to Arbitrage that so interesting something to absolutely pay attention to I want to dive over to a clip now of uh CNBC actually talking about this this is posted by Caitlyn long who I'm sure we're all familiar with so I'm going to go ahead and mute my mic we'll get into this clip and then we're going to be talking talking about opy uh before diving into some sort of binance news so I'll go ahead and mute my mic unrealized gains taxing unrealized gains just doesn't seem fair in any sense of the word in the very in the very best sense if you are taxing unrealized gains all you're doing is pulling forward the taxes that would be paid later when someone actually sells the stock I I I I think that this reaction to unrealized gains is a little funny given that I bet that the majority of people watching right now are already paying a tax on unrealized gains it's called a property tax property tax when the value of your home goes up a tax when the value of your home goes up you pay higher taxes even if you don't sell your home your value of your home never moves the way stock moves the way something go it's also property tax is a use tax you're paying for school for the schools you're paying for emergency services those are things that make absolute sense and and sure and all the all the revenue that comes in from these unrealized gains taxes and the other taxes in the tax in the Harris plan are going to go to what creating what she calls more opportunity to make sure that every newn in this country $6,000 the services well look I I you're you're arguing that this is some sort of foreign concept that's completely uh unknown probably unconstitutional it's probably and it was never in in anyone's intent it's not an income tax and it's never going to happen probably very interesting um lots of questions that get raised on the back end of that I'm not convinced that we are going to see an unrealized gains tax I do think that's very much the agenda because ultimately the agenda is um to sort of level everyone off and this is one way that they do it through taxation um so I want to know your thoughts in the comment section I I think again the world that we're moving towards is a very interesting one uh from a technology side of things because it's going to replace you know what does the future economy look like um and and and there's so much we can talk about in regards to that subject but we'll leave that there I want to know your thoughts in the comment section let's now talk about openc so this is from Devin finser who is the CEO over at openc which is an nft um Marketplace essentially open seers received a Wells notice from the SEC threatening to sue us because they believe nfts on our platform are securities we're shocked the SEC would make such a sweeping move against creators and artists but we are ready to stand up and fight cryptocurrencies have long been in the crosshairs of the SEC and companies like coinbase Unis swap Robin Hood Kraken and consensus have been fighting against the sec's single track approach of regulatory reg regulation by enforcement but this is a move into Uncharted Territory by targeting nfts the SEC would stifle Innovation on an even broader scale hundreds of thousands of online artists and creators are at risk and may not have the resources to defend themselves so if they're saying an nft is a security just think about you as an artist that sold an nft you might be breaking Securities laws without them even defining that an nft is a security or by what standard it is deemed one I don't like what's happening in the world right now guys there's a there's a noose that is being tightened around everyone's necks not just from a political point of view from a financial point of view and from a legal point of view anyway nfts are fundamentally creative Goods art Collectibles video games and domain names event tickets and more we should not regulate digital art in the same way we regulate collateralized debt obligations amen as we've built open C we've heard so many stories about the impact of nfts on people's lives including student artists finding full-time careers in selling their digital art indie game developers instantly enabling open markets for their in-game items without having to build marketplaces from scratch passionate collectors from different corners of the world joining new communities all centered around shared digital ownership it would be a terrible outcome if creators stopped making digital art because of regulatory saber rattling very interesting take for example the suit filed against the SEC uh the music by by the the SEC by the musician song Something um and conceptual artist somebody else which described their fears that this sales of their art and music could be deemed an unregistered security offering in addition to standing our ground we've pledged five million dollars to help cover legal fees for nft creators and devs that receive a weth notice every Creator big or small should be able to innovate without fear I hope the SEC will come to its censes sooner rather than later and that they'll listen with an open mind until then we'll stand and fight for the industry amen guys let's support this even if it's just with a like on this tweet and a retweet um there's a fight right here going on for the industry and the SEC I think has done the worst job possible in regards to regulating it they haven't protected one single investor Luna happened FTX happened they're the only ones that got paid out for any of that absolutely shocking um and yet they're going after for example we're going to come on to binance in a second that was one of the most gangster hostile takeovers I've ever seen of a of a corporation they literally threw CZ in jail and trolled him by charging him four that's three All In come on4 billion dollar for um basically technicalities let's move swiftly on again we do have a lot to cover so yesterday we had news just in 4488 Bitcoin worth over 2.6 billion have been withdrawn from binance in the past 24 hours hours you can see this is staggering 2.6 billion now let's go over to Richard Tang's comment here so there was news binance under scrutiny for seizure of Palestinian crypto funds but Richard Tang who of course is the CEO from bance somebody that's that's more than capable of speaking on the matter says F only a limited number of user accounts linked to ad lcit Finance or funds were blocked from transacting there have been some incorrect statements about this as a global crypto exchange we comply with International accepted anti-money laundering legislation just like any other financial institution we will continue to educate users on how to safely and securely transact on our platform most importantly we hope for a lasting peace throughout the region so he's very vague about this is the funds that we withdrawn from binance does it have something to do with that perhaps partly we do know that there was certain Frozen accounts because binance are ultimately compliant with sort of international money laundering rules uh and definitely a um something to keep an eye on again we did say today there was a hell of a lot of news and there absolutely is and to just sort of finish things off very kind of plainly and simply get ready for 151k Bitcoin guys get ready for this bull market to really Excel your altcoins the only anomaly really with this ball Market is that Bitcoin is way ahead of schedule in regards to all-time highs preh Haring um the altcoin market Market is exactly where it should be it's waking up it's breaking out a lot of them are broken out they've come back for a retest and we're getting ready for that broader continuation you had nvidia's earnings out yesterday it came out well the stock sold off this is why technicals always beat fundamentals we do have a little bit of dollar support so this may somewhat um lean on risk But ultimately the dollar is in a broader downward trajectory targets against the dollar Great British pound USD Euro USD potentially JPY USD setting up for higher moves which means the dollar is going continue to come down which means risk is going to do well and the markets are very much positioned for that so a hell of a lot we've just covered in this daily market update as we always do on that note guys I'm going to love and leave you uh if you're not already a subscriber do consider becoming on remember we are going to start capping the patreon very shortly we don't want to grow too much um and we've grown extensively and we're going to continue to do so on that note ladies and gents I'm going to love and leave you thanks a lot for watching guys I'll see you all in the next one