Foreign. Welcome back to the show! Mark I Am privileged to be able to have this discussion with you because we are going to get into some bombshell material basically about all the fraud that's still going on in the markets. For those of you who are just tuning in and maybe you don't know who Mark is I think most of the time people would describe to you as a veteran short seller, but I think more aptly you're described as a guy who like has a professional BS detector which is going to make this conversation so much more I'm sure Comical, enlightening, and just fun all around. So once again, welcome back to the show. Thanks for this! Matt I Kind of like you a lot which is why I do this Normally I'm not a YouTube Center guy, but you do a really good job and you're consistent and you speak truth to power and I kind of like you. so I'm more than willing to be on your platform and see see if we can move the needle today. Honestly, my entire goal with this is even if one person listening has a little bit more insight of kind of just the stuff that happens in the market, a better way to protect themselves I think we both had a pretty good day. So with that in mind I would love to rewind back to I guess June July period of 2022 where uh from my research on you I found out that you were reaching out to I believe Bloomberg trying to sound the I Guess whistle a little early on FDX So can we start with the story there of like what all happened there and why did Bloomberg pass on wanting to have this discussion? Yeah, that's that's really quite the hoot. but let's because you're you and I'll give you a little extra. Let's let's go with the full thing. So I had a really really bad arm injury in early May what kind of had an issue with a horse I didn't fall off but I sort of got messed up big time so I was off the physical list this whole summer I wasn't able to do anything until I got in one piece and I'm okay now. So in my spare time, this SBF was basically bothering me and on my mind since last fall. So while I had some extra mental time on my hands palomine and I started going over everything you said in the past, his behaviors checked LinkedIn check the people who work there and and just nothing about this thing fit. Very easy. Questions could never be answered. and if you really heard him speak, you know he talks I I used I said in figure eights. he never answered a question, he never answered anything directly. Everything was some indirect implication. and whereas Teddy made all his money was on this. Korean Bitcoin Arbitrage and I looked into that and it's very very very hard to do even for sophisticated people. And you needed your money there. And there's all sorts of regulatory hurdles and he had no Mentor he had no one to step up for him, he couldn't explain where he got his money, so I thought this whole thing was just a bunch of shit and the more I got into it and this whole political ramification of things and how he donated money and no one on LinkedIn had experience in exchanges Dan Freeberg was Chief regulatory officer. he was a poker crook. quickly packaged everything together and pitched the Bloomberg crypto came out of London There were five people on the team to basically go after him and Wang and answer questions and fill in the blanks and the whole thing and Bloomberg looked at this thing and they just passed. So you put together like a dossier of the information. you're like I think something smells because of XYZ you gave that. Yeah, we had new. we probably spent I don't know, three to five hours on the phone with them. Wow and then and then on top of that sent them emails screen. you know, just stuff putting it all together, putting all the pieces together and they said they were going to do a story on them. but these questions were too critical and if they asked them they said they would lose access. They also said it's not good for business but I didn't want that really out there because I don't want anyone to get fired. but Bloomberg was captured by these guys New York Times was captured by these guys Wall Street Journal captured by these guys CNBC captured by these guys and the amount of money that FTX or SPF or their PR Flex passed around I think is insane in money when you pay people off I mean that's one way of saying it you know does does funny things. You know when people advertise or sponsor less, people are willing to speak out against an Advertiser and and the whole thing just just nothing fit. sort of a sad State of Affairs that the mainstream media doesn't want to pick this up and you know it's not like I parachute it in from Mars I'm a well-known guy you know in the fraud detection bullshit space. everyone knows who I am, who's in in the media and they just they blew me off and I said on a a podcast one it pissed me off that I was being ignored and be these, these issues kept coming back and it kept getting worse and worse. So you know Keith at hedge I was always intrigued with my tweets and I've since been Shadow banned on SBF and FTX on Twitter which is a whole nother which is a whole nother deal but you know he had his little conference and I was on there and I just went off on FTX and it turned out the timing was really good I think no one anyone watching this. If you have a dollar invested in an offshore crypto exchange, my recommendation is to get it out. ASA ASAP because I think they're all. they're all shaky I mean it's just a question of when the dominoes fall and I think the dominoes will fall and I think it's it's really bad and and I don't know who the last man standing will be probably t0 for sure in the in the security token business in the alternative uh, digital assets. but it's it's not going to be these these offshore based guys. I I think they're all going to collapse. The question is when how fast and what triggers it So I would definitely back you up there. I I Think these keeping money on exchanges even in the US and you're saying even outside of the US I think self-custody is the way to go but just to interject for a second? uh I Have to admit I wish I had your BS detector. My audience already knows but just for the point of transparency with the you, the person I'm having the conversation with I was backed by FDX from January till June of this year I was associated with them and I guess it's a tale of the scenario of you don't know what you don't know and personally I find it to be an embarrassment For me, it's a blemish on my brand and sometimes I think about it logically of like okay I was always a fan of self-custody especially after Voyager So people like I mean FDX had cheap transaction fees and people who took it off at as of right now they are 100 whole because they didn't leave it on Exchange and I think that's an important crypto lesson going forward but more on a personal note for me. like I alluded to I wish I had that BS detector I looked into it I looked at what's going on and I get it. this is it's fraud. It's fraud that's wrapped up in crypto. But what happened here? it was already illegal. A hundred years ago they took clients funds from an exchange and we're trading it on a hedge fund and that's against their TOS I read their TOS I read what was going on and I thought it was good and I think I got into the scenario Sam Bakeman Freed was everywhere. He was buying everyone out. He seemed like he was the guy with money. It was backed by some big players. You hear it like Kevin O'leary is talking about it on the CNBC he's talking about CNN it's talking about a fox. Everyone was talking about it. so like I think this is maybe sometimes a function of Being Human of you just want it to be true because it seems like everyone else is backing it and like how could it go wrong and then it very quickly blows up in everyone's face. So uh like I said I I wish I had that in insight and maybe if you could expand a little bit more so in your opinion something was up just because it was too big, too fast and the parts didn't add up like the things that were being pulled off didn't make sense for their well. I I Suppose their credibility within the market you didn't understand their backers like what was it that you're just like hang on the numbers are just they're not jiving here. well what do you say is true and nothing drives I mean that's that's the incredible part of the whole thing normally in in frauds I mean my the CEO of my Medics he went after me but he also went to prison and and and I exposed him for all the bullshit they did. but at least they had a product, did the product work questionable of work but at least they had a product so you can check the box. they had a product FTX had nothing and and the guy couldn't answer any questions and he had no one who could pull this off. and I think one thing that's truly missing in the world and this is my latest bent is the lack of independent thinking or or the lack of thinking in general. I mean we've gone to a Fomo world. We've gone to a monkey. See monkey, do we've gone to. He's a smart guy or she's this marked out I'll wanna I wanna be like them or do what they want to do but but part of it is I'm 62. and SBF is let's say 30 and he's he was worth 10 billion at least made up 10 billion I Know some special people I Really do I know some people who are superstars I know the Olympic mountain biking person for the Usk Courtney she is a spectacular human being, hard-working driven, athletic, determined the whole deal. she's about 28 right? I know some I know some ball players I know some tremendous stock guys I Know people found business. If you're that exceptional under 30 where you can make 11 billion dollars, you're exceptional. And there's nothing about this guy that was ever exceptional and you could never get an explanation how this guy made his money or what's special about him or in this bear. you know, winter of crypto, winter, what they call it. Think about it. Horrible market for Crypto. interest rates going through the roof, stock market getting killed, his customer getting killed, all the coins or whatever the fuck you want to call them altcoin shit coins. All this stuff's collapsing, yet he's immune from the business. His business is doing well well. everyone else is getting smoked. It makes no sense. it's impossible to figure out how that is. And then, even though they raise money, you know privately, the amount of money, this guy was spending and yet spending to bail out known frauds and ponzis. Five of them. Whether it's Celsius or Voyager or Scaramucci or all these various failures, he was investing in these things in front of the bankruptcy not behind it. So it's not like he was buying anything at three cents on the dollar or buying customers on the cheap. He was just flushing money. And then they get this this narrative that he's the JP Morgan of crypto. Well no. JP Morgan never bailed out frauds or ponzis. So you start putting this all together. you start putting it all together. You know my grades in school were dog shit horrible. Okay, my SAT scores were horrible I'm not sitting there and talking in big words when I don't understand something I simply say I don't understand it but nothing here added up. Nothing here added up and instead of me just nodding my head like everyone else saying yeah, he's great yeah, this that and the other I just said foul I Can't figure this out I This makes no sense. Why would a homely looking guy wearing dirty clothes with some shit bag hairdo? why would they have Billboards of himself all over the place? He's not a brand I mean FTX is like he traded should be on Fkx so all every single sign was there. That something here Not only was wrong but just made no sense to begin with other than throwing money at everything that moved, sponsoring baseball Umps shirts, the Miami Heat Arena Tom Brady Giselle Super Bowl commercials Billboards of himself bailing out frauds, having no one of Distinction running the company at the company and your Chief regulatory guys are criminal freeberg just just a poker cheater flat up I mean so what here made sense Nothing other than these these Grand words he wants to give you know he wants to make a lot of money to give money away drives a Toyota Corolla I mean it all. Nothing fit his. his parents were Stanford professors so he has to be a good guy. No you know you can believe if you want verify a I'd never believed and B when I tried to verify I couldn't verify anything and and and it and it's not like I spent hundreds of hours on this I couldn't get anything to work I couldn't get anything to Jive you know the difference is I think everyone suspected something was wrong but people don't have the balls to speak out because when you speak out against a guy who's worth billions, you know you can get sued or this and I'm Not Afraid against it I get too plenty but if you speak the truth and I figured something was wrong enough here to speak out that if he ever if someone heard me and I made sense, they'd pull their money from FTX and I have a ton of DMS from people who I say and that makes me feel really good and it makes it all worth it I have a ton of DMS from people who never heard of me and and didn't but you know my response is you should follow me on Twitter at Alderland Eggs which is all I have is my Twitter but maybe next time people will listen but you know, don't necessarily listen to me I'm not the gospel I'm not the Lord I'm just a starting point to make you or to make people want to think and if it doesn't make sense to you or as I say a lot. If you can't explain it in a paragraph or less to a 10th grader, you probably shouldn't be there. You probably shouldn't be in the thing and you for sure shouldn't have money in any of these offshore exchanges. And and when people say oh, this is not investment advice bullshit. whenever anyone talks about a stock, it's always perceived to be investment advice. But unless you can touch it, explain it or know where your assets are or know where they're safe, we're going to dangerous World Interest rates are going up, there's a war, there's inflation, the stock market is shit, the economy is whatever. it is getting worse so you know I said I was just talking to someone in Germany You know people work their ass off to make your money. You know to work a nine to five job or they work at a factory or they bust their ass or doing construction. You work hard folks to make your money. Spend the time to think it through how you invest your money because most people just just listen to just anything. Just spend the time to think about it. think it through. If it doesn't make sense to you, don't do it and don't do it because the guy next door did it. and I think a lot of people heard of a lot of people making all sorts of money in crypto and they say monkey see Monkey do and you have musk and all these other clowns saying what they did in hookah coin or Dodge Coin or cat coin or whatever the fuck it is right? Unless you know what you're in, be leery of it and and don't just listen to me or don't just listen to you. but you're YouTube and what you do I Believe in and it's a start. It should be a starting point for people to think and and people to go from there in my view. I Definitely agree with you a couple things. I Want to unpack there so I agree with you in the sense of Monkey see Monkey do. A lot of people saw money and no one wanted to miss the gravy train. and you were talking about people kind of doing the research at all levels. Whether it's just a person signing up for FTX all the way up to these highest levels of uh, the VCS the Auditors and I need to ask you especially because of what's going down Really right now is the fact that we have Andrew Sorkin on CNBC who is very very fond of FDX they're about to do an interview with Sam Bakeman Freed at the deal Book Like New York Times Summit and also Kevin O'leary is associated with CNBC at this point like did they just not do their research or do you think that like they couldn't find the fraud? Do you think that they were paid off like where do you fall all in on kind of these the media Talking Heads Who went from being super supportive to some of them against it. but I think the most recent thing I saw about Mr Wonderful is he was asked after the whole debacle if he would invest in Sam Bakman freed again and he said yes. So where do you falling on all that well I think O'leary should be fired from CNBC on the spot if he, if he believes that he should I mean I go back with him when he was running that fraud at The Learning Company so he doesn't like me I Can't stand him I scare him half to death. He is completely full of shit and he's He's not only an awful person, he's an awful investor. he's He's horrible. I think these guys are captured or they paid I'm not going to make that accusation because I don't know, but something is very very very untoward with CNBC with the times with Sorkin with all these guys I don't know exactly what it is. it's not really my business, but I mean I'm amazed Sbf's lawyers are letting them talk given the the trouble he's in. but again, that that's not me. I mean I find this whole thing to be Beyond suspect and the media and the mainstream media let has let people down in a very very very big way. Which is what leads to the rise of Twitter and guys like you and an alternative media where people can attempt to try to speak truth to power because you're sure not getting it from the times and you're sure not getting it from CNBC which I call the Cartoon Network and it's very disappointing. I mean they get me or they they get more from from my Twitter than they can get from from that stuff because at least I'll I'm not afraid to mix it up or say it. and if I'm not your cup of tea, don't follow me or block me or do whatever. and if I Intrigue you dig deeper and and and figure out where the past can go. but it's it's you. know it's kind of. There's online gambling. You can trade a stock online for free or very little. you can do the crypto. You can do whatever you want online where you think you can make and and also lose a shit ton full of money and it's dangerous. It's not good, it's it's media. Centric I mean they people say if Tom Brady does it how bad can it be or is his wife the model I mean they had everyone had Steph Curry they had Brady they have Giselle they got to the NBC they got the New York Times They got Billboards they got Stadium sponsorships they sponsor you win 700 other other people so they're everywhere but a where did the money come from B How in the world can they be actually making money in the so-called Crypto Winter who's running the exchange who are the brains behind it Freeberg's role? Why is he bailing out frauds? He's not a JP Morgan He's a complete fucking criminal and this was a criminal deal from the start and you can't mix customer money with your money with a hedge fund and and and run it through the pipes of the Silver Gate which I think is a complete another scam I Would love to talk about server gate there. uh but with the The Who's Who and the what's what and we're talking about all these people, do you think it's a fair question of where in the world were Regulators what's going on with them I was just reading that apparently they invested heavily into like a Podunk Bank like the 26th smallest bank in the US. So how did we have a foreign crypto exchange based in the Bahamas owning a U.S Bank Where was the SEC Where were Regulators Who were the people that were giving the seal of approval for all of this to occur in the U.S with U.S investors? That's something that has me scratching my head like I I guess like did Have you heard anything? Do you have any deep thoughts of where were the I Guess adults in this situation? Well, I have a lot of Deep Thoughts Some I can share some I can't share I mean assume I'm talking to the powers that be and assume I'm talking to people who can actually make a difference here. Assume that. Okay, so some of those conversations are between me and them. So when I say on Twitter I'm up to no good I'm working my fucking ass off to put an end to this bullshit of what one person can do. Where were the Regulators The Regulators Have been absent for quite some time because what really keeps the economy going is the stock market. and you have cheap money and you have an SEC that doesn't do much and shits offshore and no one wants to regulate crypto. And the more you talk about regulating crypto, Uh, the more crypto grows. But I have the solution. I mean the solution is very simple. it's very easy, and I'm proactive rather than reactive. And the one way you stop all of this bullshit, you don't need to regulate crypto. Regulating crypto in my mind's a mistake. Let crypto do whatever crypto is gonna do. What you need to do is cut off the on-ramp and the off ramp. or the arteries and the veins that enable these offshore scam exchanges to function in. All of these exchanges are powered through the Send Network which is Silvergate. What if not for Silvergate and the Send: Network None of this shit would be possible. None of it. Now listeners very quickly like what is Silvergate as a business before we get into? like why you think they're up to some nefarious actions. Silvergate symbol: Si It's a publicly traded U.S federally Chartered Bank in La Jolla symbol S.I They have deposits which are going down rapidly and they run something called descend Network which allows and they brag about movement 24 7 365. you can move money from them into crypto offshore crypto exchanges and then back through them as many times as you want and then from Silvergate into a U.S Bank That's it in a nutshell: Okay, they they enable, uh, hyper movement of money from them into exchanges, back and forth through these various offshore crypto exchanges. gotcha. They brag that they've done over a trillion dollars of movement in this Zen Network My point is, nowhere can you Kyc which is know your customer or AML you know which is money laundering techniques. There's no way you can accurately gauge what's going through your network in real time at that rate of speed. There is no way the fact that FTX was their largest customer is a huge problem. Huge problem because FTX it's implied admitted to people have come with Concepts that FTX money Alameda money, customers money has all been co-mingled and has also moved through the Silver Gate Network So where this all shakes out, I'm not really at Liberty to get into great details. Okay, but if the send Network did not exist or was shut down, all of this nefarious activity would cease, there would be no network to do it. There have been a lot of Um documents that I've shuffled around to various parties that that indicate um a lackadaisical attitude at Silvergate the Chief Risk officer is the C was the CEO's son-in-law he's since been replaced. I've heard stories of up to 30 employees at Silvergate being relatives of the CEO I mean there's a reason that they're the only ones who do this and it's been made very clear that the Big Banks would shut this whole thing down. I put something out on my Twitter where SBF himself said if not for Silvergate, we wouldn't be able to do this because the big Banks wouldn't allow it and the big Banks wouldn't allow it because it's you know as I said on Twitter it's the largest in in my opinion, the largest money laundering Network in the Free World And and I defy anyone anyone to go check and see the trillion dollars that have gone through this thing. How much of it is legit Because if any of it is illegit, it should be shut down because this is a bank. This is a federally charted U.S bank and I'm a taxpayer and you're a taxpayer and I don't want my tax money being spent to ensure these lackadaisical asshats improper behavior. And now the CEO gets on the Cartoon Network CNBC and he has a picture of Jesus on a cross behind them and a picture of some Saint sitting at his desk. I mean religion in the stock market is somewhere near the wig indicator. You're just a complete fake if you know you have to hide behind religion. So without silver Gates send Network FTX would not have been able yet alone Alameda would not have been able to exist and do the damage that they did to people I Think these guys are going to be accessories in suits, um, and various other things. But if you just stop or break down the flow of money into these foreign exchanges, the world would be a lot better. and you wouldn't have the dangers to the system that you have. And the real danger to the system is people are losing a lot because when these things go bankrupt, all the assets get frozen. so you know. I Don't like to see people who work a lifetime to get wealth lose it all on these scam ass exchanges where the money movements been enabled by someone like Silvergate? I'm sure I'm short. Silvergate stuck I Don't want to anyone to think that I'm a neutral Observer here I think this thing is is garbage and I think it shouldn't exist I have no problem with it being a sleepy-ass bank I Do have a problem with this network enabling all this transfer of money uh, currency crypto from platform to platform where one is shadier than the next. I Have a significant problem with that because this is going to continue until all these things burn down and you know which and I think they're in the process of burning down. so I think they've silvergate his enabled this. They've enabled this through the send. Network They need to take responsibility for what they've done. Government needs to step in and make changes and and as you said, you know, let's everyone should learn from this so it can be a learning exercise so this shit doesn't happen again and again and again because you can't trust any of it. You can't trust any of it and you know again, you can like me out there. Don't trust me. You know you can hear what I say, but verify. You know, verify where your money is, verify how safe it is, verify that if they go bankrupt or have liquidity issues, can you or can't you get your money? And if you can't get it the fuck out of there before, it's too late because you don't get 80 back, you don't get 70, but you get nothing back. It's it's it's all lost. Same thing with your collateral. so it's again. it's a dangerous time. It's a dangerous. World There is no regulation. Maybe the regulator step up. Maybe they don't. Maybe the government steps up. Maybe they don't I don't know. I'm just one voice out there. but I I don't I don't like it at all I don't I don't like it at all because things are in place to siphon money from hard-working Americans to criminals and and and I don't like it. And and that's exactly what happened with SBF and FTX and Alameda and and Block Fi and all these other scam ass exchanges. So how bad do you think it gets? I I Do appreciate you disclosing your short position just for the point of transparency. Do you think this is something that? it just comes down a little bit and it starts trading at like it's just normal Bank value and we take out all the crypto? Or do you think there's a chance of this thing like fully blowing up and going to zero I think as I think Silvergate's gonna blow up I Don't know if it goes to zero, nothing goes to zero anymore. The send Network needs to be shut down. Their deposits go away because people can't play this crypto game through them or go to a very low number. and if you look at the fines that JP Morgan had to pay in the maid off Fiasco You know and they didn't even touch the money I mean they were in the billions. So any form of fine lawsuit, court judgment legal against these guys push these guys Beyond over the edge because I always say if a company ceases to exist tomorrow, will anyone miss them and no one, No one will miss Silvergate? No one I mean none. So so the question becomes what happens to their so-called send Network which has enabled all this shit. My opinion is it's going to get shut down two after it gets shut down. What is Silvergate Answer: Prior to this whole thing, it was a bank that had 40 million with an M of deposits so it's some little out of the way shit bag. Bank Just like these other Banks and these crypto clowns convinced his real name is Alan Lane I've renamed him Alder Lane which is my farm because I own him So so Alder Lane was convinced to turn himself into this crypto Super Highway and he went from 40 million in deposits to 14 billion. So he grew astronomically so and he became famous. His stock went way up. Now he's going to become famous for a different reason and not a good reason. So I I Think there's nothing there. there's there's no earning power at this company. I Think this Crypto moving money around for crypto exchanges I Think people are going to get onto this you know in a big hurry. especially if I'm successful in my efforts to expose this thing the way it is and I'm confident I will get the job done and I think there's nothing there I mean I'm not telling you you can anyone can do whatever they want with a stock I Didn't give a rat's ass but as a as a network to send that we're work should be shut down. It should be shut down ASAP because if it was such a good business JP Morgan would be in it Citibank would be in it HSBC would be in it Wells Fargo would be in it. There's a lot of people who would be in it PayPal would be in it. There's a lot of ways you can move stuff around if it was okay, but to me they just piss all over the anti-money laundering and Kyc you know rules that the government has I mean I just invested in a private company you know, my son and I and I mean they basically stick their head way up my ass. I mean they asked for driver's license. they asked for passport. they asked for bills that match the driver's license. They ask for everything they ask for domestic bank accounts Swift numbers the whole fucking deal I mean it's it's a real ordeal just Bank Wiring money around or investing in speculative assets around. you can't move money 24, 7 365 from here to Uruguay to Hong Kong to Paraguay to Singapore to Switzerland to some fuck ass exchange somewhere I mean where where it's as easy as sending a Zell that's not what this is about and I also guarantee you that FTX and Alameda didn't move their money around in all these private companies through JP Morgan or Wells Fargo or all these other legitimate places. So significant questions need to be asked. I'm asking a lot of them I Keep going and and answers should be had right now. there's not a lot of answers and changes should be made so the average person can be protected so they don't lose fucking everything. I mean it's it's one thing to buy Bitcoin at 40 000 and then a trades to sixteen thousand, right? That's just a bad investment. It's one thing to buy over stock which I like at 60 and a trade at 25. bad investment. It's another thing to lose your fucking collateral or to lose your account that gets frozen in your general creditor in a bankruptcy. I Mean that completely fucking sucks because you lose all your money, not just some of it. All of it. This definitely sounds like a second case of just Regulators falling asleep at the wheel. I Mean this is a bank within the U.S and I mean for the longest time, all I heard was politicians about complaining about crypto in general because they accused it of covering up a legal illicit activity. But then, yet, it seems like a financial mechanism that's really allowing this to perpetuate is actually being within the US Which that's just like blowing my mind. So I'm particularly interested to see how this all plays out. Do you have? uh, If we take a step back and look at Crypto in general, what are your thoughts on Binance? like? Are you trusting what's going on there? or are you kind of staying away from all this? I Don't I Don't trust any of them I mean he's he's another character in in this thing I mean I I Don't trust any of them. Anything offshore in this space to me is beyond suspect. I mean there's guys after me they want me to get going on. Tether and I don't know. Tether from weather from feather from from any of it. I I Just don't know it. Okay, but what I do know of it or what people? what I read is the shit is so suspect you shouldn't touch it. Now again, it's up to you if you want to play it and if you want to play a speculative asset. God Bless you. Okay, and whether I agree with you or disagree with you again, that's on you. you're an adult. Figure it out. But what's not okay is to to have a dime in any of these offshore exchanges that go tits up and you lose all your money that that's where it becomes Not okay. Everyone can say you know, Buy Bitcoin Buy crypto, Buy this coin. That coin that's all on you I I don't care, it's it's I I can't I Always said I can't explain it to anyone and no one's been able to ever explain it to me why this stuff makes sense other than Fomo or YOLO or whatever the fuck people say now. But but you can't watch an exchange, seize up, go bankrupt, and you lose all your money. There's there's no part of that that's okay in in my view. So whether you're the SEC or you're the Senate Banking Committee or you're the Federal Reserve or whoever you are, you need to put Protections in place in the United States of America That pipes can't come from here. To those exchanges or criminals or money launderers or terrorists or whoever take crypto and and infiltrate the US banking system I mean that that that you just can't have? they're they're um, real strong and because wow that bullshit to go on then then the whole system can go. So if I happen to run PR at Silvergate, let's just say that was my job. You'd almost think that if I heard accusations like this on the internet, it would be super easy to disproof of. like let's calm everyone down Like here's proof. Here's what we need to show and it would be A-Okay In a weird way, I find the the silence to be more telling than anything else because if I was PR I'd be like oh no here like if you guys are concerned about your documents X Y and Z we're ready to go, we're completely secure. Um so like I said I I think this silence is more telling than anything else. The fact that they're not willing to engage not only with you but the general public about what's going on I mean the most recent commentary we got was block fire. Unfortunately because of FTX had to fire just now chapter 11 bankruptcy and the biggest commentary is like oh oh, we're not that exposed to that's it. That's what we know right now. like no one's giving hard fast numbers or anything like that that can really drum up. I would say the Public's I guess faith in the security of where their money is and uh, it blows my mind. absolutely blows my mind. I mean here's well. first of all, the company is run by a clown. It's run by this guy Alan I call him Alder Lane and and he's he at best is junior varsity. He's not very smart, he's not very bright, he's in way over his head. He was explained to do this for a bunch of fast crypto guys overseas. They say sin is not approved by the government, but it's not disproved so it's like they don't want to ask for permission because they'd be denied gotcha. Here are the simple facts. The simple facts are: they've run a trillion dollars which is a big number I mean I Put it out on my Twitter I was trying to figure out it's a one and how many zeros it's a it's it's a one in 12 zeros. It's a big fucking number. That's what they've run through the system they have best. I Can guess right now. Seven billion in deposits, maybe eight going down rapidly. the amount that they have in deposits versus what they've run through their system. let's just say is a hundred and twenty times. Oh wow, that's significant. That's significant leverage through the system. Market cap of the company, give or take is roughly a billion dollars. A billion dollars. They have book of 35 which is not good, but let's say it's good. So they have Book value of roughly eight billion dollars, right? If someone decides to kick the tires and they figure out that Ftx's Alamitas embezzlement, whatever went through the send. Network Lord Fucking help them Lord help them because they will be a party to every single lawsuit that goes on with FTX with all these customers losing their money because their money was basically stolen and run back through Cent right? So in my view and my opinion, they have done nothing dog shit, nothing on this AML Kyc front right? If they don't want to prove me wrong, knock your fucking selves out. But of the trillion dollars what percent right on you, you can't This is not a this is like a pregnancy thing. Either criminal shit has gone through there or it hasn't there's no halfway. if it has, the whole thing's gonna get shut down. So so their margin of error given what they've run through to me is so razor thin right? it it deserves commentary. So if Alder Lane AKA Allen Lane wants to shut me or any other skeptic up and there's plenty of them out there, he simply says this is the test. We ran through all of the FTX transactions, all of the Alameda transactions through our send Network and we've back tested them and they're all fine. So shut the fuck up. But they can't do that because they haven't done anything they they haven't done and I think I read somewhere that they Farm out their AML Kyc and they're and and somewhere down the line they're gonna say or their Alibi is going to be when the stock is a dollar and 38 cents their their Alibi is going to be. How did we know? How could we have known that we were getting defrauded? Well then you shouldn't have kept putting out these stupid mid-month midweek mid-quarter midday press releases I mean how many updates have they given saying absolutely nothing many? So they keep putting out these PR things saying nothing. Hmm, you know they they say misleading reports on Twitter Are you talking about me? Well fuck, let's get on a spaces call and you will co-host the spaces call between Alder Lane and me. Winner take all I guarantee you he won't last 10 minutes. Have you had any correspondence with him or anyone in the company? zero They know where to find me, you know and and again on on Fpx I went to Raul Paul the real Vision guy who actually likes me right? he I've done a lot for real vision and I said I think on four or five occasions how about you moderate a conversation between Sam and me I have questions for him and there's always no I can't do it No I don't know him that well. Oh I can't talk bullshit. You can't put SBF in me in the same ring because because he he wouldn't make it 18 seconds the the questions I would ask them. So so you know Silvergate and this send Network have significant issues significant issues and until they addressed the issue the issues are going to get loud or not softer and and if God forbid for them this thing is shut down or or the government kicks the door in then they really have problems so their best to come clean on exactly what's going on rather than all this fucking cock and bullshit. Oh, we have 20 million of exposure but we may have it here or it may be there. You know, you know if you're loaning money against someone's crypto assets were those crypto assets held because if they're held in one of these firms that goes under, you don't have collateral because you're the assets are frozen at the uh, the bankrupt exchange. So I have a lot of questions. I'm being more vocal on Silvergate so everyone can say they did not not not know or heard or I was making it very clear so you know that's that's kind of that I appreciate it and I'm excited a couple weeks couple months so we could definitely recap of how it all ends up playing out. I Would love to move on to really inherently. the thing that brought us together months and months ago was just this concept of Fraud and malfeasance in the markets and at that point it was through the world of just meme stocks and what was happening. it was Gme transformed into AMC and that's obviously been a wild wild ride. So following your Twitter I've seen a big shift and it seemed like you were kind of team support AMC of what's going on and you were pitching a concept of tokenized Securities and we can track what's going on, we know who's doing what and then out of nowhere the current CEO of AMC Adam Aaron I believe he told you to step down Stand Down something along those lines and to me that was kind of a turning point in your opinion on Adam Aaron And it seems like also the company uh can you explain to us like your current thoughts and what's going on? uh in terms of AMC yeah I mean I thought I had a really good idea. You know again I'm tight with these T0 guys and and I gave intent Adam Aaron an idea to tokenize basically various assets of the company and put it in the hands of shareholders. These security tokens. It would have served a whole lot of purpose. It would have done a share count, it only would have gone to shareholders, not people who are short the stock. You can't be short the token and the token would have value. That and and it was a I Thought it was a really good idea and instead of engaging me or talking to me about it further he asked me to stand down and he said this idea is probably you know it's partly illegal and which it's just not because you know as it turns out you know Ice which is the New York Stock Exchange owns 20 percent of T Zero and these security tokens are completely legal and T0 is SEC and federal approved. So the second he told me to stand down I sold my stock and I said something is very very very wrong with Adam Aaron and I sold my stock at a loss because I thought it was a really good idea and I thought he could he could do something for it I thought he could reward shareholders I thought he could then get a Share account. He could then put an end to whether the shares are naked short or not and I think it could have. it would have checked every single box but it also would have restricted him from selling stock of which he sold all his stock and and everything since then has been downhill. and then he turned that ape Community against me which is fine and I blocked a ton of people and then subsequently he came out with his hair brain idea of issuing this ape. this preferred and the stock rallied and I went on everyone's you know cares and other spaces calls and told everyone to get the fuck out of the stock that this is really really a bad deal that he's going to end up back door diluting everybody and this is a crazy thing and and he Adam Aaron said it would be to you know help with the shorts or and I said it's bullshit and I told everyone everyone who would listen to get out and I was treated so poorly I said this is my last space call ever on AMC and that was somewhere between 25 and 27 and now the thing is, you know, maybe eight bucks combined in the ape itself? one from ten and a half to one in very low change and it's been a disaster. So Anna Marin could have done something forward thinking he could have done something creative. He could have done something for the shareholders instead. I mean all he's doing is he's screwed the retail holder big to the great benefit of himself. he pays himself way too much money and he sold all his stock and I think it's a huge disgrace and Gasparino, you know I've worked with him and given him my thoughts and he's done a wonderful job of warning people to get the fuck out of this thing of exactly what would happen and that people would get deluded. and sure enough, they've gotten deluded and Adam Ahrens killed everybody. It's just he's destroyed people's wealth, He's destroyed them and and the same people. The Apes who've kept the company out of bankruptcy and out of trouble are the same people who he's screwed. and if the Apes would have let this thing go bankrupt Adam Aaron would be without a job, he wouldn't have made money selling a stock, the company would have been bankrupt and the story would have would have ended a whole lot better. for the individual investor then then. it's playing out right now, so offer a little bit of context on that and maybe push back in a certain sense. So uh, just for everyone listening, Adam Aaron has personally profited 40 million dollars from selling AMC Over the past year year and a half, he has personally profited four Zero million, 40 million and I believe insiders at AMC in that same time frame has sold a hundred million dollars worth of stock. We were told a couple earnings calls ago that it was for I believe proper estate planning but also uh, you and I both know that your estate can include stock and if you think stock value is going to go up, why in the world would you sell it? that just doesn't quite make sense. And for those of you who want to, you can look into it. But Adam Aaron is also on the board of Norwegian Cruise Lines and part of his board position is he's given Norwegian stock a stock that he's literally never sold anything of. So if you're going to do proper estate planning, why would it be of the company that you're currently in opposed to the one that you used to be involved with and are now on on a board member. So I find that weird To my understanding right now though, he does own stock because just of his position, he's being gifted more So I think right now he actually is probably the single largest shareholder of AMC but I find it interesting that with yours, no, he's nowhere close to the largest Shirley he got individual not like Black Rock Yeah, being given options, being given options or putting your money at work is a whole different deal getting getting options where you can blow out a stock that's very different than Joe's six-pack putting the real money in the stock. everything that he can sell, he sold, he's investing on more options because the board gives that blow hard, more more stock and and he and he pays himself a ridiculous sum for for doing absolutely nothing I mean what's he done for the holders? What's he done for the people who've saved the company? I Definitely want to talk about that, but just uh, rewinding for a second. You also brought up gas perennial who you've done work with. um I would say with him my opinion on him is I think sometimes on Twitter and I've seen it I've seen you get attacked I've seen him get attacked I've seen myself get attacked and all of a sudden it does become a very quickly defensive thing. So now he has an Embrace abrasive exterior and I kind of look at it of he really is fighting with people considerably younger and if he was really trying to help like I kind of wish if that was this goal I would wish that there was different demeanor Behavior but also I'm not in his shoes so I don't know how much he's been attacked and sometimes I think he crosses the line of the things he says and then other times I'm like, well, he's trying to just talk about stocks in this scenario and it all gets muddied. Um so like I don't know I I guess I wish maybe sometimes I wish he approached it the way you do of hey man like I'm not here to fight you individually I'm here to like, talk more about the stock market, have more of it an open dialogue if he was on the side of like as you put it, the average Joe but with what you just said with Adam Aaron and all that I Not that long ago there was a proposal for everyone who owned AMC to the like to authorize more shares thus so they could do a dilution and obviously do a capital raise. and the concept was to use the new money to improve the future trajectory of the company. Um, they had to pull the proposal because it was clear that the shareholders were not going to vote for it. What's weird to me is okay. that's obviously what the shareholder. They did not want this to happen. They did not want to be deluded. So what they did in my opinion was they took advantage of the shareholder Base by saying okay, we'll figure out a backdoor dilution. We'll find this preferred Equity unit will get everyone to overlook what we're doing by calling it ape and then we're going to launch that and they're attempting to dilute it. It is down right Actually, as we're talking right now I hit a new all-time low and since its debut in August it is down 80 percent and they've only done 3.5 percent of the dilution. They just raved just over 36 million dollars. and to me that's a little devious. You're covering something up in a very fancy looking boat. Look, it's it's called Ape. it's for the Apes and it was all this concept of like we're going to show the synthetic shares and really it was clear dilution and the dilution itself isn't even going that well. It's down 80 and they've only raised 36 million dollars when they have 5 million in debt. First Trade was ten and a half since trading at a buck and change how it's down a lot more than 80 percent. Oh from its debut it was first trade I think was around seven at least that's what First Trade was ten and a half. I mean you could have sold all you wanted between nine and a half and ten and a half and so it's down instantly. Yeah yeah and and and you know to your to your point the problem is the guy worked for the shareholders and he's done nothing shareholder friendly. My idea was shareholder friendly. As far as you know, Gasparino you me. However, it looks, we're all attacked mercilessly by a whole crowd. you know, internally and externally in that ape. Community Your attack I'm attacked. Gasparinos attack everyone's attack. Women are attacked, Everyone's attacked. So when you're attacked, you can do it one of two ways. You can ignore it or you can push back. He's the 60 some odd year old. Italian-American He's not taking shit from anyone including me. Yes, Bruno him and I have gone at it right. So he'll He'll push and fight back. Is it the way everyone should do it? Who knows. but it's Twitter it's it's what goes on. But point of fact is if you listen to him, you would have saved yourself a lot of money if you would have listened to me. To get your ass out of that thing in front of the age, you would have saved yourself a lot of money. And and the problem is the guy running the company who should be looking out for the shareholders. really fuck the shareholders hard and that's a shame. And he's profited immensely and the shareholders have suffered immensely. And I'm just saying it's not good, it's it's not a good look. It's not a good outcome. It's not a good ending because he still has debt and he did bullshit like spend company money to buy a broken down gold mine. you know? Which makes absolutely zero sense other than the bailout, his his friends, his friends who own the stock who were buried in it and and I I just don't like it I just I just don't like it and again, it's screwing the person who works hard to make their money who speculates on the stock and you'd expect the guy to run it to look out for the holders instead of screwing the holders and it's just not good. It's not a good look I would love to get your unadulterated thoughts on what I'm currently doing so uh, for everyone listening and for you, um, right now like it's all publicly available on The Brokerage Public Like this is something that anyone can see I'm still an owner of Gme of AMC and Ape and my reasoning for that um is more so of this conversation. this studio everything I do I owned this retail, trading and investing community and I view it almost more of like an ideological or sentimental point of I got into it and I have this career because of all those people and I feel like my ownership is more of like still having the back of that silent majority. We're talking about these people who, uh, it is accessible on Twitter on Reddit they're fighting back and forth and to me that's a very loud minority Like that's all they do. They sit there and they argue and it's a very much like a cult-like mentality and dog piling and there's no room for critical thought. It's very much hopium copium. Tell me what you want to hear and if you don't like, we're not going to talk to you. You must be against us. And I and maybe this is like I said ideological of me I Think there's a large silent majority who's like, well, hang on I Want to actually learn a little bit more about the market I Want to learn a little bit more about Market structure and fraud and what's going on here? So I guess I'm not in it for Adam Aaron Who is clearly profited off of this? He's a suit and you could say the same thing about Ryan Cohen and what he did with Bed Bath and Beyond I guess I always has this saying like like once, a suit, always the suit. You can't trust the suit. but I guess like I view it as like I'm in it for these other Average Joe's and that's why I still want to talk about it and figure out what's going on opposed to these guys who like in my opinion, are just kind of abusing the exact same group that saved their comp companies and ensured that they still had a job because anyone listening right now I would bet any amount of money if it wasn't for the retail. Community All of those guys would not have a job right now. AMC would not be a company GameStop would not be a company I View it as a lot of people during the Rona period were sitting on their couch. They all banded together saved these companies. And now at this current chapter in the story, it just feels like there's a knife in our back. Well, there's a knife in your back. There's also a knife in your front because Brian Cohn has done a damn thing of what he said he'd do Adam Marin hasn't done a damn thing neither of them have executed where the Shed GameStop's missed every number. Uh, since Ryan Cohn's been involved, their platform sucks or doesn't work. They had a partnership with FTX that went by the boards that didn't last too long. I Can't stand Ryan Cone I think he's full of more shit than a Christmas turkey I Can't stand Adam Aaron I can't stand them I think they're both horrifically bad operators, self-interested and they don't care about their investors. Having said that, I Totally understand how you want to be part of the movement that you owe it to it that that Joe six fact or the retail investor deserves a shot. But all I want to say to that is put in money in these names if that's what you want. that a you can afford to lose B You understand why you're in it. You're in it for a movement. You're in it for the inspiration. You're in it to make a change. You're in it because you want to say you think this could be the future I Get that right. Don't put everything you got in it. Don't put in it money. you you can. You can't afford to lose because the guys running these companies are dog shit. They're They're horrifically bad operators. They can't operate to save their ass, and both of them are completely full of shit. Don't confuse your investment with these guys running good companies. They've both done shitty jobs for shareholders. shitty jobs. The GameStop numbers suck. They completely suck. That exchange either doesn't work or it has no volume or no one cares. The FTX partnership was bullshit. Ryan Cohn is a disaster on what he did with Bed Bath and Beyond a disaster. Adam Aaron's a disaster. but if you want to own the stock, know why you're in it, know why you're in it. Understand why you're in it. You're prepared to lose because you're part of a movement. but you do not have money in this thing that if you lost it, you'd be on the streets. Of course, that's all and everyone needs to. If you're going to pitch the guy inside, you plan to pull, understand why you're in the thing, Why why, and if something changes, get the fuck out If you're in it to make money I Think you need your head looked at because I Think the the way these guys operate these companies X some some strike by lightning short squeezed which can always happen but that's a that's a Bad Bet right? You're not going to make money here because these companies fundamentally are just fucked. Now You can be in it because you want to screw institutions or against the man or memes. All that's totally fine I Get it right. But that's different than thinking they're gonna beat numbers or do fundamentally better or change the world. They're not. They're simply not so. I Don't I'm not arguing with you why you're in it. Totally fine. but I would just caution people only have in these things: money you can afford to lose and you could be part of history or a movement or something like that. I Get it right. But fundamentally, these companies are fucked and they're really fucked by the clowns they have running. and Ryan Cohn is a clown of astronomical proportion, astronomical and the only one who's as big a clown as him is Adam Aaron So that's that's my opinion there. So I'm not knocking you for your decision. but I Do not think you have your money that can hurt you if you lost it in either of these names. Exactly right? I Mean, and this really comes with any trade and or investment, you're putting the money on the table that you could afford to lose. and I would actually add a little bit on to that of don't let the Internet if you're actively trading something because it's moving actively traded. you don't let the Internet for someone to be uh, like a bag holder, do what is appropriate for you and obviously you have to have some financial responsibility. Whatever you're doing with your money, understand that that amount of money could go to zero. Um, those are very wise words and I think that's a perfect point to at least pause this particular discussion for anyone who wants to know what Mark is up to in the description of the video below. you'll be able to find his Twitter and all his other related information if you want to know what he's up to on a day-to-day basis. But as always it's a a pleasure speaking with you and I hope everyone listening to this. Hopefully you learned a thing or two, but obviously let me know your thoughts in a comment below. thank you Mark Matt thanks for having me I I am partial to you I think you do a really good job. we don't We don't always have to agree, but I think we have a mutual respect and I have respect for what you're doing I think you're trying to help people out I think your sincere and approach and and folks he's He's a legit guy. He takes what he does seriously and and one day when he grows up I think he's going to be something. he's going to be something One day when he grows up I Appreciate the kind words. Thank you so much take care. Thanks again for having me.

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