Despite a little bit of a pullback today Bitcoin is still doing very well over The short term it's doing extremely well Over the midterm and even better over The long term guys if you take a look at The price action on bitcoin which we are Going to do in a second here you're Going to see that we are still very very Bullish not only that we have some very Very good news out there that we're Going to be covering in this video as Well because take a look at this Everybody that was on the FTX platform Is going to get all of their money Back I thought that I thought that Sam Bankman freed stole that money the dude Got 25 years in prison for what let's Talk about it if it sounds like Something you're interested in let's get Started what's up everybody as you can See we get the price of Bitcoin on the Screen right now and if you're brand new To the channel if you haven't seen me Before I am clay bro welcome to all of You guys very glad to have you in here And uh let's interact a little bit in The comments below man you guys uh leave Some more comments a lot of these videos Don't get very many so please let me Know how you guys are doing let me know What cryptocurrency you guys are Interested in what type of news you guys Are interested in so that maybe we can Gauge the audience a little bit better
And provide what you guys want to see Now with that being said everybody Should have some sort of a basis when it Comes to overall crypto news and of Course Bitcoin as well so whether you're An altcoin Trader whether you are are Into the the I don't meme coins whether You're a gamer no matter what it is we Need to follow Bitcoin because Bitcoin Provides this gravitational force in the Crypto space that just cannot be undone Right now as you can see over the last Couple of days Bitcoin has done Perfectly to bounce off the $56,000 lows And it is now sitting at $662,500 yes a little bit of a dip over The last couple of days here but the Overall weekly performance still looking Very good now if we pull out to a daily Chart we could see that Bitcoin over the Last 5 6 months has performed Phenomenally jumping from $40 $30,000 all the way up to 70 and a Little bit of a dip right now back down To the 62 63,000 area and we're not going to go Well beyond that but uh yeah we're going To take a just brief look at it Bitcoin Recovering all of those old alltime Highs Bitcoin bouncing beautifully off That bare market and Bitcoin still Sitting at levels that would have been Considered all-time highs just a couple Of years ago and now people are
Complaining because there's a two we Draw back so you have to make sure that You put it in perspective and if you're Here for the Bitcoin bit Bitcoin Bitcoin Is watch out that's going to be the next Meme coin out there if Bitcoin continues On it is going to be here for the long Term and it is going to be looking very Good now speaking of the long term one Of the biggest kind of threats to the Industry in my eyes not these Institutions out there that you have one Or two Bad actors in that try to scam People one of the biggest threats are The regulations and regulations coming Out of the United States right now are Nowhere near conducive to growth Everybody in the United States that is In a a position of I guess regulatory Authority likes to point fingers at guys Like Sam bankman freed they're out there They're trying to take your money from You they're trying to get wealthy off of Your loss and that is very interesting Because read the headlines for crypto News today and if you do you're going to See that failed crypto firm FTX says They have more than they need to pay Their Victims well what are we worried about Then FTX says most customers of the Crypto or the bankrupts crypto exchange Will get all of their money back and More FTX will return money to most
Customers less than two years after the Catastrophic crypto Bankruptcy now let's take a look at some Details in this uh in this article here Because this is fascinating to me a man Is sitting in prison for 25 years now And and he has been sentenced to 25 Years in prison When what damages were done all of the Customers are going to have their funds Returned to them so it it does beg a Question at least in my Mind why is Sam bankman free you know I Truly don't think that the guy was Innocent in terms of he doesn't know Where that money went you don't get to Sam bankman Freed's level by misplacing Billions of dollars so I do think that Something was taking place there and and It seems to me to be much much bigger Than the actual story that they're Telling it seems to me that they may be Sabotaging the crypto industry so that They can come in and regulate it now That is just the conspiracy but let's go Over the actual FTX news right now it Says that almost all customers of the Collapsed cryptocurrency exchange FTX Will get their money back and more According to a court filing let's take a Look at this almost all customers of the Cryptocurrency exchange FTX will get Their money back and more according to a Court filing FTX estimates that it those
Creditors around $ 11.2 billion According to a reor reorganization plan Published late Tuesday the company said That it has between 14.5 billion and $16.3 billion to distribute to those Creditors well over the amount that they Owe customers whose claims amount to $50,000 or less Basically the vast majority of retail Investors will receive approximately 118% of the amount of their o allowed Claim now they're getting interest to The tune of 18% by holding on FTX around 98% of the Creditors will receive this Compensation the reorganization plan Which still needs to be approved by the Bankruptcy court will likely bring some Relief it's going to bring more than Relief it's going to bring it's going to Make them whole and then some whose Money has been locked up on the exchange Since November of 2022 now I don't know the direction that This is going to go but why would the Bankruptcy court not approve 118% Redistributed to investors who had money On the FTX Platform very strange and we could argue All day long The the schematics of whether or not Sam Bankman freed did something wrong but at The end of the day if there's no
Damages what crime was Committed and it does beg the question Because if customers are made 100% whole What were the Damages now this is a very an Interesting Theory and I'd like you guys To discuss this a little bit in the Comments if you want but it goes on to Say how Sam bman freed received the 25 Year prison sentence they managed to Raise money FTX managed to raise money By selling off their assets okay and and The cryptocurrency that they claimed They didn't Hold makes customers whole so this could Be an excellent indicator of strength in The cryptocurrency space in days to come Everybody who lost money in FTX collapse Is now going to be made whole when all Of that money hits the market Market hey Yes there's a chance that these people Are scared out of their minds they sell Off of their crypto and there's a little Bit of a dip that precedes that but if There were no damages done they could be Extremely confident that they survived The worst of the worst bankruptcies that This industry has ever seen and it could Ignite a brand new wave of confidence That drives not only Bitcoin but Altcoins higher as well let me know what You guys think about it down in the Comments and of course all of the Pre-sales going on right now make sure
To check those out as well don't forget Clay bro and until the next time hope to Each and every one of you have an Awesome day