Latest / The Paul Barron Crypto Show / Binance RECORD $6.3B HACK! 🚨 The WORST Possible Timing

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Binance RECORD $6.3B HACK! 🚨 The WORST Possible Timing · The Paul Barron Crypto Show

0:00
Speaker 1: We are entering the worst hack at the worst possible time.
0:02
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Speaker 1: self-custody to you. So make sure and check it out.
0:41
Speaker 1: Tell them we sent you. Let's just start with this
0:44
Speaker 1: tweet right here. And what we're getting into right now
0:47
Speaker 1: is Intel. Now, I want you guys to pay attention
0:49
Speaker 1: here because there's a lot that is centering around specific
0:53
Speaker 1: earnings that are happening. Intel plunges 30% wiping out $ 100 billion.
0:59
Speaker 1: All of this because of what we saw, again, with
1:02
Speaker 1: some of these high performers who have essentially been missing
1:06
Speaker 1: their forecast. This was a Q4 forecast, missed 80% annual
1:10
Speaker 1: growth in its data centers. That was what was happening
1:12
Speaker 1: on the good side. And yet it's still at the
1:14
Speaker 1: same time they were missing on their numbers. And it's
1:17
Speaker 1: not just them. We're talking about This is the worst
1:22
Speaker 1: that we've seen in 50 years. And again, this is
1:25
Speaker 1: on weak guidance going forward. Many people have still been
1:29
Speaker 1: looking at this as maybe an up market. I kind
1:33
Speaker 1: of disagree now. This timing is just not right with
1:35
Speaker 1: what's happening with Binance. We'll get into that in a second.
1:38
Speaker 1: But look at this. I mean, we're talking about another
1:40
Speaker 1: $ 850 billion wiped out from the U.S. stock market at open. Now,
1:43
Speaker 1: part of that is because of the narrative that's being
1:46
Speaker 1: painted out there within everything. One, of course... to mention
1:50
Speaker 1: here is just Coinbase. Coinbase revenue falls 35% down to $ 1. 2 billion.
1:56
Speaker 1: But this ended three consecutive quarters of losses. And that's
2:00
Speaker 1: a problem, I think, going forward for Coinbase because still
2:04
Speaker 1: a lot of their profits come from crypto trading for
2:06
Speaker 1: obvious reason. And the key here is that we are
2:09
Speaker 1: now entering a state in which this may become a
2:13
Speaker 1: very challenged market. And there's still some issues facing other
2:17
Speaker 1: major industries, but Coinbase is taking another step into it.
2:22
Speaker 1: Their executives now are planning a potential sale, potential sale
2:26
Speaker 1: of up to 13.6 million coin shares. That's worth $ 2. 2 billion.
2:31
Speaker 1: So that's a problem right there. I think the market
2:34
Speaker 1: is going to start to punish these companies. If you
2:37
Speaker 1: look at Google, this, of course, has continued to fall
2:41
Speaker 1: now down to 277 trading after slightly up yesterday. And
2:46
Speaker 1: when you look at Intel, That's them literally teleporting down
2:50
Speaker 1: to $ 64, up literally from $ 92 to $ 64. If you're
2:55
Speaker 1: an Intel holder, that was an absolute shock this morning
2:59
Speaker 1: if you were looking at that. Amazon not doing much better,
3:02
Speaker 1: even though they are starting to grab up some of
3:05
Speaker 1: that pullback. And that pulled back down to $ 229. And
3:09
Speaker 1: look at this in the local. I want to just
3:11
Speaker 1: go from that local top, which was right around $ 287.
3:13
Speaker 1: This was back in August of this year. This is
3:17
Speaker 1: where we are right now. That's down 20 percent. So
3:20
Speaker 1: these are the kind of numbers that I think are
3:22
Speaker 1: going to continue to face not only the market, but
3:26
Speaker 1: all of this is coming at the wrong time, especially
3:30
Speaker 1: with what's going on with Binance. Now, I want to
3:32
Speaker 1: go to a clip real quick because this gets into
3:35
Speaker 1: can the stock market take much more? Take a look.
3:40
Speaker 2: And that is, as you say, it's cracking in the
3:42
Speaker 2: short term. I want to emphasize this is a very
3:44
Speaker 2: short term view. On top of that, we've got oil
3:46
Speaker 2: prices right at the highest. The two biggest dynamics out
3:48
Speaker 2: there are negative at the moment. And then you throw
3:51
Speaker 2: in the fact that it's month end. So it's after
3:54
Speaker 2: a really tough month for hedge funds and for traders.
3:57
Speaker 2: So mark to market, people don't have the balance sheet
3:59
Speaker 2: to fight this. And you've got midterms risk next week.
4:01
Speaker 2: I just don't see how any major player can buy
4:04
Speaker 2: the dip today enthusiastically. And I think it's going to
4:07
Speaker 2: be a pretty horrible Friday, I have to say.
4:10
Speaker 1: How much worse could the tech move be?
4:12
Speaker 2: I think it could get really bad if it happens
4:15
Speaker 2: now because technically we've just had terrible earnings from some
4:18
Speaker 2: of the biggest companies in the world. And then we've
4:20
Speaker 2: already had the reset in yield. So we'll probably get
4:22
Speaker 2: a yield reset higher. It could be very bad, very
4:25
Speaker 2: short term.
4:27
Speaker 1: All right. So very bad, very short term. I think
4:29
Speaker 1: that's the question is, is how long would this potentially happen?
4:34
Speaker 1: And we have seen recoveries. Listen, we've seen dips in
4:37
Speaker 1: 2025 right after the election. We've saw it in the
4:40
Speaker 1: COVID era. There's been eras where we've seen 20 to
4:44
Speaker 1: 30 percent pullbacks from these highs. And it's very possible
4:47
Speaker 1: we could be in that stage again. Moving on to
4:50
Speaker 1: what happened on the Binance hack. This is a world
4:52
Speaker 1: record hack coming in from North Korea. Hackers sold over
4:55
Speaker 1: $ 6 billion in cryptocurrency on Thursday, shattering the record. And
4:59
Speaker 1: of course, this is being reported by not just crypto media, guys.
5:04
Speaker 1: This is being reported by mainstream media. And I want
5:08
Speaker 1: you to think about that. This is getting the exposure
5:11
Speaker 1: that we've been not wanting for crypto. And it's going
5:15
Speaker 1: now directly at crypto. And it's coming in from the mainstream.
5:20
Speaker 1: When you look at that, Binance is hacked four times
5:23
Speaker 1: bigger than anyone before, just to show you that chart.
5:26
Speaker 1: The last one that was even close was Bybit at 1.46 billion.
5:30
Speaker 1: Prior to that, it was the Ronin hack, the Polygon hack, BNB.
5:34
Speaker 1: So all the way going back to half a billion
5:37
Speaker 1: with Mt. Gox and the impact it had. So could
5:40
Speaker 1: this be another one of those Mt. Goxes that we're
5:43
Speaker 1: facing in the industry? And I think the challenge is,
5:47
Speaker 1: is that now, back then, it was just crypto OGs.
5:51
Speaker 1: It was just crypto narratives and from the crypto community.
5:56
Speaker 1: That has all changed now. Take a look at this clip.
6:00
Speaker 1: says it has suffered a major security breach. This is
6:03
Speaker 1: breaking news.
6:04
Speaker 2: The estimated impact could top $ 6 billion, potentially making it
6:07
Speaker 2: the biggest crypto heist ever.
6:10
Speaker 3: Really the largest theft of anything in human history. We
6:14
Speaker 3: at TRM are attributing North Korea with high confidence. That
6:19
Speaker 3: is relatively breaking news, I believe. And we have very
6:22
Speaker 3: strong off-chain intelligence, real-world intelligence that ties North Korea to
6:26
Speaker 3: this hack.
6:27
Speaker 1: If a bigger player like Binance cannot prevent a breach,
6:31
Speaker 1: why should anyone trust a smaller exchange? It begs the
6:36
Speaker 1: question whether our money is safe.
6:41
Speaker 3: So, so the.
6:44
Speaker 4: I said this this morning, it makes the traditional banking
6:46
Speaker 4: sector kind of look like the adults in the room.
6:47
Speaker 5: Right.
6:48
Speaker 2: Right.
6:48
Speaker 5: I don't remember a $ 6. 3 billion hack of a bank happening. Right.
6:55
Speaker 1: All right, so you can kind of see. I mean,
6:56
Speaker 1: the point is that this is mainstream media piling on. However,
7:01
Speaker 1: what I will call to effect is the layer in
7:05
Speaker 1: which this could start happening. And if you look at
7:08
Speaker 1: the bank hack timeline, August there were eight hacks, September
7:13
Speaker 1: four hacks, October there's been 13 hacks, 10 in Asia
7:17
Speaker 1: that have been going along. These, of course, have been
7:20
Speaker 1: a bit smaller, yes, and quite a bit smaller. But
7:24
Speaker 1: I think this is just a matter of time before
7:27
Speaker 1: these hackers and these kinds of methodologies start to understand
7:31
Speaker 1: how to go into the system. This is the thing
7:33
Speaker 1: that is concerning me the most. All right, so let
7:35
Speaker 1: me go to this list because this is just the
7:37
Speaker 1: hack escalation in general. So this is looking at everything,
7:41
Speaker 1: including banks, companies, governments, etc. And now you're going from
7:45
Speaker 1: $ 136 million in August, $ 766 million, that's almost 4x, and
7:47
Speaker 1: then $ 6.
7:47
Speaker 6: 3 million.
7:52
Speaker 1: Right there, here we are in the end of October.
7:55
Speaker 1: But you can kind of see, I mean, we've seen
7:57
Speaker 1: all sorts of data centers that are being hacked. And then,
8:00
Speaker 1: of course, right there, the big Binance hack that occurred.
8:04
Speaker 1: So the point I'm getting at is there is going
8:07
Speaker 1: to be a worldwide hit on major financial markets. And
8:12
Speaker 1: I think this is just the first indicator. So do
8:16
Speaker 1: not feel that this is over by any means. And
8:19
Speaker 1: I'm not spreading fear. The idea is just reality. We're
8:23
Speaker 1: seeing this happen in front of us real time. Binance,
8:27
Speaker 1: of course, the hacker drained $ 6. 3 billion in total. First
8:30
Speaker 1: $ 300 million on XRP. And then $ 6 billion across 141
8:35
Speaker 1: transfers on nine chains. So when you look at the
8:38
Speaker 1: line list here of the $ 5. 6 billion that was also
8:43
Speaker 1: included in this, you had Bitcoin, ETH, TRON. XAUT, Tether, Circle, RLUSD,
8:51
Speaker 1: all of these were being hit in pretty short fashion.
8:54
Speaker 1: And of course, the big question is, is how do
8:56
Speaker 1: they respond? And here's what Chainalysis said. And I thought
9:00
Speaker 1: this was a bit more alarming to me, is he
9:03
Speaker 1: says it's seeing laundering patterns that it's never seen before.
9:06
Speaker 1: So this is essentially, you know, this is being obviously
9:08
Speaker 1: aided by AI. And this could play into something bigger
9:13
Speaker 1: that I'll get to here in a second. But further
9:15
Speaker 1: into this, it points to a programmatic process, automation built
9:20
Speaker 1: to bury the trail. Now, granted, I've talked about this before,
9:23
Speaker 1: is there's going to be white hat agents and black
9:27
Speaker 1: hat agents in AI. And I think we are now
9:31
Speaker 1: dealing with those kinds of battles that are going to
9:33
Speaker 1: be going on, much like it was in cybercrime and
9:37
Speaker 1: with cyberattacks, as you're dealing with engineers who are fighting
9:40
Speaker 1: other engineers. This is going to be AI fighting other
9:43
Speaker 1: AI in the near future. That's just a picture of
9:46
Speaker 1: the dynamics around the transfers that were taking place across
9:51
Speaker 1: this hack. And this is the point they were getting at.
9:54
Speaker 1: They haven't seen patterns like this before, so it has
9:57
Speaker 1: advanced up dramatically. in terms of the amount of moves
10:02
Speaker 1: this currency has been making. So it's now trying to
10:04
Speaker 1: get off chain. All right. So one good thing is
10:07
Speaker 1: that Richard Tang, the CEO, co-CEO of Binance said, bottom line,
10:11
Speaker 1: your money is safe. Everybody is pretty much on board
10:14
Speaker 1: with this. How they structure the rebuild of this is
10:18
Speaker 1: going to be something to watch closely because it could
10:22
Speaker 1: be very creative. Another thing right here, you had Jeremy Allaire.
10:26
Speaker 1: This is what surprised me because this has been something
10:28
Speaker 1: that has been kind of a stance of circle where
10:31
Speaker 1: they have not frozen funds without, you know, pretty extensive,
10:36
Speaker 1: you know, reach in by law facilities. So this, of course,
10:40
Speaker 1: changed both Tether froze funds. USD1 freezing funds, and of course,
10:46
Speaker 1: USDC also freezing funds. Jack McDonald coming in from Ripple
10:49
Speaker 1: saying we're actively freezing affected funds. Just to kind of
10:53
Speaker 1: hit on this, and I guess that's right, because you've
10:57
Speaker 1: got North Korea. I guess this could be adding to
11:00
Speaker 1: their strategic reserve because of this hack. And we know
11:04
Speaker 1: that it's a different hacker group than the Lazarus group.
11:09
Speaker 1: which changes things up, meaning there's more vectors coming at
11:12
Speaker 1: the industries. And I think you'll see this even in
11:14
Speaker 1: the Western banking systems overall. This is a problem. Elon
11:19
Speaker 1: tweeted about this. Probably not good timing right there. Every
11:22
Speaker 1: day is zero day. CZ fired back on this. And
11:26
Speaker 1: you can kind of see the statement here. Elon, I
11:29
Speaker 1: have a lot of respect. Bad time to troll. Please stop.
11:32
Speaker 1: And then big statement right there. Are SpaceX shares now
11:37
Speaker 1: worth a billion? We might need some of that.
11:40
Speaker 5: Ouch.
11:41
Speaker 1: That could hurt things quickly on SpaceX. And Elon didn't
11:44
Speaker 1: say much after that. You also had Mike Belshi coming
11:48
Speaker 1: in on this. And I thought this was an interesting
11:50
Speaker 1: statement here, telling all crypto developers and engineers to get
11:56
Speaker 1: off of LinkedIn. That's how they're finding you, which creates
11:59
Speaker 1: you as a target. And if LinkedIn is one of
12:03
Speaker 1: the ways that this, because most of the time these
12:05
Speaker 1: systems are open to a VPN approach from almost any
12:08
Speaker 1: country in the world, that's a problem, I think, that
12:11
Speaker 1: could be presenting itself as more public profiles out there
12:14
Speaker 1: for a lot of these people, which is why you
12:16
Speaker 1: don't know, in many cases, who the engineers are for
12:20
Speaker 1: a lot of the government institution groups, in some cases,
12:25
Speaker 1: financial institutions. So think about that, guys. Eric Balshunas comes in, says, hey,
12:30
Speaker 1: we've got ETFs. You get much lower trading fees and
12:33
Speaker 1: it's added adult production. But at the same time, ETFs
12:37
Speaker 1: were not necessarily performing. Also bleeding out as well right
12:42
Speaker 1: there with all ETFs. Bitcoin slightly down. ETH coming off heavy.
12:50
Speaker 1: Solana coming off heavy. And XRP adding too. So point being,
12:57
Speaker 1: lots of ETFs on the move right now. Other things
13:00
Speaker 1: that are moving right here, of course, is Uniswap. Uniswap
13:04
Speaker 1: was also sold. And it was interesting because after it
13:08
Speaker 1: was sold, you would think there have been move on
13:10
Speaker 1: the market. But at the same time, we had Uniswap
13:13
Speaker 1: rebound back into 695 trading now. So wild things, man.
13:19
Speaker 2: All right.
13:19
Speaker 1: So when you look at how this could be done,
13:22
Speaker 1: this is an example. Bloom Drainer stole nearly a million
13:25
Speaker 1: laundering at like an eight figure haul. Primarily, though, this
13:28
Speaker 1: was looking at a lot of slot of change. You
13:30
Speaker 1: can see the address is 1300 addresses used there, mainly
13:33
Speaker 1: because it's the AI chain. It's the agent chain. And
13:36
Speaker 1: that could be something that will play into this later.
13:40
Speaker 1: Because when you look at Anthropic and where it's going,
13:44
Speaker 1: remember that there's going to be a model that is
13:47
Speaker 1: going to be revealed around this hack. So we're going
13:51
Speaker 1: to figure out how this occurred. the models that were used.
13:56
Speaker 1: And once that's done, I'm not saying that it is anthropic,
13:59
Speaker 1: but if you're utilizing the best tools, you're probably using
14:03
Speaker 1: anthropic right now for things of this nature. Now, there
14:06
Speaker 1: are other great tools out there, but not for hacking,
14:09
Speaker 1: for building. But I think this could present the more
14:12
Speaker 1: pressure that I just mentioned on anthropic, especially at timing,
14:17
Speaker 1: that's not good for them going public. Thinking about what's
14:21
Speaker 1: going to happen after the midterms, Because this is going
14:23
Speaker 1: to get pretty dicey. Now you've got to deal with
14:26
Speaker 1: situations where Elon is in the crosshairs if the Democrats
14:31
Speaker 1: take the House and the Senate. Take a look at
14:33
Speaker 1: this clip.
14:34
Speaker 6: You know, he's created all these things that didn't, despite
14:38
Speaker 6: what people say, depend just on government subsidies. If there's
14:43
Speaker 6: a sweep of the Democrats, which is what he said
14:45
Speaker 6: in his tweet last night, and in two years, a
14:49
Speaker 6: Democratic president, you know, it's certainly not going to be
14:53
Speaker 6: great for his ability to work with the U.S.
14:55
Speaker 3: Government.
14:56
Speaker 6: But that's not something that I think motivates him. I
14:59
Speaker 6: don't think he makes a calculus. I think he's just
15:03
Speaker 6: deeply driven by some of.
15:08
Speaker 1: His political fields.
15:09
Speaker 5: You're kind of soft pedaling this. They're talking about going after.
15:13
Speaker 1: Companies, people, employees. I mean, even media types, I imagine.
15:18
Speaker 3: But they're looking at anyone that had anything to do
15:22
Speaker 3: with Trump that wasn't part of the resistance.
15:24
Speaker 5: They're going to investigate.
15:25
Speaker 1: That could be bad. All right. So do you guys
15:30
Speaker 1: believe that? Do you think that if there was a sweep,
15:34
Speaker 1: there would be a full on attack on everybody that
15:39
Speaker 1: was aligned with Trump? Because this could get into Trump
15:41
Speaker 1: crypto entities. This could get into companies that supported Trump
15:45
Speaker 1: during the crypto analysis of what we were trying to
15:49
Speaker 1: do on Genius Act and also on the Clarity Act.
15:53
Speaker 1: This could get into the situations around Elon and all
15:56
Speaker 1: of his companies. along with all those funding elements. So
15:59
Speaker 1: I don't know, this is going to get nasty, I think,
16:01
Speaker 1: over the next couple of years. All right, so let
16:03
Speaker 1: me go back to the situation with what happened with Binance,
16:07
Speaker 1: because this is now starting to seep in other areas.
16:09
Speaker 1: And now it's, is your crypto safe anywhere? Is the
16:12
Speaker 1: question centralized exchanges? Is it safe on hardware wallets? Trezor,
16:18
Speaker 1: of course, gets hit. They're already saying, hey, you need
16:20
Speaker 1: to move your funds now to a newly created wallet
16:23
Speaker 1: and a seed phrase as soon as possible. due to
16:26
Speaker 1: what's happening with crypto billets. So let's take a look
16:28
Speaker 1: at just what else is being affected, because I think
16:31
Speaker 1: this post right here was good, because it was in
16:36
Speaker 1: reference to Reddit's earnings. But what they said was the
16:40
Speaker 1: reality that AI is fundamentally changing everything away of how
16:44
Speaker 1: you and I access the internet. That in itself, I think,
16:47
Speaker 1: is going to change everything. It's why we're seeing the
16:49
Speaker 1: downward trend of Alphabet. AI is also destroying the business model,
16:54
Speaker 1: And it's happening at an accelerated pace. This is another
16:56
Speaker 1: thing that I've talked about a lot is that the
16:59
Speaker 1: businesses themselves are being completely revamped during this time. I've
17:04
Speaker 1: talked to executive after executive that are saying this very
17:07
Speaker 1: thing is this is all changing how they're even operating.
17:11
Speaker 1: And then the internet has entered a new era. And
17:14
Speaker 1: when you look at tokenization, this was a scoop by
17:17
Speaker 1: Eleanor and a good one. She's talking about that there
17:21
Speaker 1: have been reps going out and actually creating warnings to
17:27
Speaker 1: these issuers that were listed on exchange against having their
17:30
Speaker 1: shares tokenized. One point, too, that I think Eleanor was
17:33
Speaker 1: kind of leaning into is that the analysis here, and
17:37
Speaker 1: it's likely that these calls are going to get out
17:39
Speaker 1: leaked at some point, but the analysis is that your
17:42
Speaker 1: stocks aren't safe on these narratives. And I think that's
17:46
Speaker 1: the point. we're getting at is now you've got a
17:49
Speaker 1: lot more pressure on these companies, which may be, most
17:52
Speaker 1: of these guys are not necessarily aware of how this works.
17:55
Speaker 1: So I think it's all new tech to them. So
17:58
Speaker 1: they're kind of following the lead by what we're seeing here.
18:01
Speaker 1: And it seems to be working because you have GM
18:04
Speaker 1: who is going to switch to NASDAQ from the NYSE
18:08
Speaker 1: on November 17th. So here mid month, you'll see that
18:12
Speaker 1: we can see more companies following in line with this.
18:15
Speaker 1: CNN reported this, though, and that is that we are
18:18
Speaker 1: continuing to see deadlock right here in the Israeli elections.
18:24
Speaker 1: And neither of the two main blocks, and this is
18:26
Speaker 1: out there, you can kind of see Netanyahu and the
18:28
Speaker 1: opposition bloc, all starting to come into this. But the
18:31
Speaker 1: prime minister now still struggling to get the win over there,
18:35
Speaker 1: which could put more pressure on not only how things
18:39
Speaker 1: are going in the Middle East, but even here in
18:42
Speaker 1: the U.S., how military is going to be addressed, how
18:45
Speaker 1: most of the political agenda is going to be addressed post-midterm.
18:49
Speaker 1: So this plays into a much bigger narrative going into
18:54
Speaker 1: the future.
18:54
Speaker 3: U.S.
18:55
Speaker 1: Military is preparing options for Trump when he says anything's
18:59
Speaker 1: possible with Iran. So this is more fuel to the
19:02
Speaker 1: uncertainty fire. Let's go on to something else, and that
19:05
Speaker 1: is global dock workers, because this is now happening at
19:09
Speaker 1: 113 ports across five continents. There's 22 countries involved in this.
19:13
Speaker 1: But the point is, is that it's affecting energy and
19:16
Speaker 1: energy is now starting to escalate beyond a new point
19:21
Speaker 1: that we are a little concerned around. Around 104 is
19:26
Speaker 1: where we are right now. And if you look at
19:28
Speaker 1: this chart, this comes off. Let me kind of go
19:31
Speaker 1: over here from the high. This now looks like it
19:34
Speaker 1: could be breaking out. Just be aware, guys, this if
19:38
Speaker 1: this starts to break out. Further than where we are
19:41
Speaker 1: right now, trading at 104. If we get up to
19:43
Speaker 1: that 115 line, that is the no-fly zone for major
19:48
Speaker 1: disruption in the United States. States. And probably, remember, it's
19:52
Speaker 1: not necessarily availability, it's the price, because this is a
19:56
Speaker 1: market issue, because the global stage is setting the market price.
20:01
Speaker 1: It's not that the U.S. doesn't have access to it,
20:03
Speaker 1: it's the global price of oil, because some of these
20:06
Speaker 1: other countries do not have access. So That creates a
20:09
Speaker 1: whole new economic challenge that puts more pressure on D.C.
20:14
Speaker 1: than what we've been dealing with even up to now.
20:17
Speaker 1: So things are getting heated. So I want to go
20:19
Speaker 1: to a clip real quick, and this gets into why
20:22
Speaker 1: oil is doing so well. Take a look.
20:25
Speaker 5: Exxon and Chevron are both in the green pre-market after
20:27
Speaker 5: beating profit expectations.
20:29
Speaker 2: Conflicts in the Middle East and Russia are driving refining
20:32
Speaker 2: profits to a record high.
20:33
Speaker 1: Kind of the flip side of tech.
20:34
Speaker 4: Some big numbers, but they came in even bigger than
20:37
Speaker 4: what we were expecting. I mean, overall earnings of $ 56
20:42
Speaker 4: billion across the oil majors, which is the third highest
20:46
Speaker 4: on record. And this is all, of course, showing up
20:48
Speaker 4: at the price of the pump all across the country. So... Additionally,
20:52
Speaker 4: this is probably not what President Donald Trump and the
20:55
Speaker 4: Republican Party want to hear as they head into the
20:57
Speaker 4: midterm elections next week.
20:59
Speaker 1: So when you look at polymarket right here, this is
21:02
Speaker 1: in reference to who wins the Senate. The problem is
21:05
Speaker 1: I think the expectations now are quite a bit higher
21:08
Speaker 1: than what I would put out there. I think this
21:11
Speaker 1: is much closer than this 73 percent, 28 that is
21:15
Speaker 1: being poised right now. This could be setting the market
21:18
Speaker 1: up for some disappointments. So pay attention, listen, it's around
21:23
Speaker 1: the corner, October 4th, or excuse me, November 4th. We'll
21:27
Speaker 1: find out really quickly. I wanna go to the last
21:29
Speaker 1: clip here, and this is in reference to how data
21:32
Speaker 1: centers are being teed up after midterms. Take a look.
21:37
Speaker 1: Recent polling finding that 50% of voters oppose the build-outs
21:42
Speaker 1: within three miles of their homes.
21:44
Speaker 5: It has become a flashpoint in some of the most
21:47
Speaker 5: competitive races, like the open US Senate seat. in Texas,
21:51
Speaker 5: as Texas became the number one state for data center
21:55
Speaker 5: growth and construction, surpassing Virginia. Lisa, we should say at
21:58
Speaker 5: this point, the expectation in Washington is that nothing's going
22:01
Speaker 5: to get past this session, which means that it is
22:03
Speaker 5: being teed up for the new lawmakers to look at
22:06
Speaker 5: it when they get sworn in with the new Congress.
22:09
Speaker 1: All right, so a lot of points around that. I
22:12
Speaker 1: still fall on the data centers potentially could be positive
22:16
Speaker 1: for these communities. And I think AI... And in general,
22:20
Speaker 1: the compute power of a country is going to depend
22:24
Speaker 1: so much on its ability to trade globally, be able
22:29
Speaker 1: to maybe even wage defense, and even to the point
22:33
Speaker 1: of innovation. And that's the area that I think I'm
22:36
Speaker 1: really concerned with with the U.S. because we're no longer
22:39
Speaker 1: on a level playing field with the rest, or we
22:41
Speaker 1: are now on a level playing field with the rest
22:43
Speaker 1: of the world. We're no longer leading it. And these
22:46
Speaker 1: are going to be important areas. going forward, whether you
22:49
Speaker 1: like AI or not, it's not going away. And the
22:54
Speaker 1: key is, is who is going to figure out how
22:57
Speaker 1: to fix it? I think our engineers and hopefully the
22:59
Speaker 1: United States can be able to lead that. But listen, guys,
23:03
Speaker 1: things are getting very, very nasty out there. We'll continue
23:06
Speaker 1: to cover this and a lot more. If you like
23:14
Speaker 1: this video, hit like and subscribe, drop a comment down below,
23:17
Speaker 1: and also join our free private member group. The link
23:20
Speaker 1: is in the description.