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We have some huge crypto news to talk About in the market today because you Guys can see binance BNB coin it's under Massive Siege right now so you can see The price really decreasing rapidly in The last 24 hours and this is after you Know a week plus long Trend and what I Want to do in this video is give you Guys a massive update on exactly why This is happening for the price is BNB Am I still a believer in BNB the Ecosystem and also importantly all those Tokens that live on the BNB ecosystem as Well so you guys know BNB is home to Many great cryptos out there and I'll be Giving you guys my opinion right now and I'm also going to be talking about some Other crypto news and if you guys enjoy The update make sure to hit the thumbs Up button and guys let's get straight Into this update so BNB plummets as Binance auditor mazars halts work with All crypto firms so an international Audit tax and advisory firm massage has Reportedly paused all work for the Global crypto clients so what is going Going on right here so it looks like This accounting company which is not one Of the big ones out there it's not one Of the big four but uh they were engaged To perform audit work for binance but Also other crypto exchanges out there And uh they've recently indicated that They're going to stop work for all

Crypto clients globally which include Crypto.com qcoin and binance and it's Actually a really bizarre situation so I've got my head scratching at this so Why aren't they completing the job on These crypto companies and I do think You know the timing is a little bit of a Coincidence so you guys know the whole FTX debacle is going down and uh crypto Exchanges they've done the right thing Right here so they've employed Auditors To basically vet the crypto exchanges And they were in the process of getting That done but the order has now pulled Out so my question is you know was there Some pressure applied to the auditor and Something else I want to give you guys Some really important context that Really raise my eyebrows and it says Right here we have reached out to Multiple large firms including the big Four who are currently unwilling to Conduct a por proof of reserves for a Private crypto company and we are still Looking for a firm who will do so so That is massively surprising to me so Usually you know big four companies they Are hungry for work they are fighting For clients they want the biggest Companies to audit they want all that Money because at the end of the day you Know big four companies they work for Money they want big payments and I'm Sure binance could afford to pay them

Money it really has me perplexed why They are not taking on binance as a Crypto client the only thing that I can Think of is either two reasons maybe There are shadowy forces at play right Now trying to take down the binance Exchange and that's just my speculation Or potentially these other Auditors out There so these big four audits you know Reputation is important in auditing Companies and also getting future work So they may see crypto and binance and They just don't want to get involved Even if you know binance is looking Legit and as someone who's been in the Cryptocurrency industry for quite a While you know I've used binance for Many many years and I found it a really Good crypto exchange so I'm not too Particularly worried about a binance at All I am a believer that there is a lot Of mediafud coordinated fud against Binance personally as I always say to You guys on the channel though best Practice uh for crypto storage is Generally like a decentralized wallet Like a trust wallet metamask or a ledger Or a trezor as well that is the best Practice for crypto but I'm really Surprised of what's happening right here And uh it's very interesting so we know Binance can pay money we know companies Love money but maybe they just want to Avoid this whole situation because FTX

Has definitely ruined the reputations of Many companies and individuals out there As well so FDX has been like a nuclear Bomb in the crypto market and some Companies right now are just you know Bunkering down in the bunkers so to Speak so what realistically needs to Happen right now is some auditing Company out there needs to provide a Legitimate audit of binance and also These other crypto exchanges so we have Been through this exercise before in Cryptocurrency and someone who Understands audits but it is important To you know when you're looking at a Company you've got to look at the assets Right so the assets how much crypto They're holding on their books and other Types of assets but you also want to Look at the liabilities as well and you Know all that needs to happen is an Auditor needs to come in and look at the Books and verify that you know these Crypto exchanges are legit you know I Suspect they are legit I think binance Is legit but what has happened is Because this hasn't happened yet you're Going to see all sorts of fun coming out Of mainstream news right now and you can See right here on the mainstream news CNBC they are really stirring up the Foot as well so binance's native token Plunges to lower since July as concerns Melt about withdrawals and FTX ties and

From what I understand you know binance Is not really tied to any of the Operations that FTX was conducting are There forces at work that would love to See binance the crypto exchange Disappear and not be number one and I Also want to give you guys that context As well so you have to remember as well Binance has been the biggest crypto Exchange for a long period of time and There is definitely lots of money to be Made by knocking off binance as well so If they can get rid of binance a new Crypto exchange can come up and then They can be the kings of the crypto Market just in the same way you know Bank the banking industry is dominated By a few Giants out there as well There's lots of money out there and I'm Sure they would love to be the number One crypto exchange but what I do think Needs to happen right now I'm staying Strong with binance I'm strange I'm Staying strong with BNB I'm staying Strong on the BNB ecosystem I'm not Going to get flooded out of the BNB Ecosystem so I'm still a massive fan of Binance and hit the thumbs up if you're Staying bullish on the BNB ecosystem Right there other crypto news I wanted To mention as well check out this Yesterday we spoke about Donald Trump Releasing an nft collection and he sold Out 45 000 nfts in less than 12 hours

And he's raised 4.45 million dollars so I have to say This is impressive regardless of what People think about politics you know Being on the left or the right this is The power of nfts this is the power of People who want to be part of a Community so Donald Trump has launched An nft collection and that sold out 45 000 nfts 4.45 million in just 12 hours I Don't know if that's a record but it's Definitely a signal that he's still got An extremely strong fan base with all Those purchases happening right now you Also have to take into the context of The crypto Market because right now it's A bit of a crypto winter guys it's a Little bit Frosty out there and with That let's talk about the crypto prices So what is happening with the crypto Prices and before we get there let's Just take a look at the crypto Bubbles And it is a bit of lava a bit of bitter Blood red on the market today and you Can see the entire crypto Market is Basically getting pummeled right now uh But am I worried about this no I'm Long-term in crypto so I'm bullish long Term in crypto and I'm not gonna get Flooded out of the market just because a Very verified audit doesn't exist just Yet on some centralized exchanges that Is not a reason I'm going to leave Crypto Forever at all no way but you can

See pretty much every crypto except for Maybe just a couple very minorly or in The green today so a little bit of a red Market and if we do jump over to the Prices you can see it's been kind of Dragged down uh by Bitcoin but I would Say most of the price action today has Actually been coming out of binance and That type of fun with the binance Exchange and you can see if we bring up The seven day chart right now we can see A drop down from 18 300 down to around The 16 700 level for Bitcoin and if we Do take a look at the outlier in the top Five it's by now so it's down 20 last Seven days and uh done 12.7 the last 24 Hours but some other crypto is also Trading at big big reductions right now So Dogecoin dropping down right there And uh Shiba in you down as well and a Lot of the cryptos you know retracing Today retracing a bit but again I think Bright things are ahead it for our Cryptocurrency and our lunar classic Down as well today but guys I'm going to Be staying in the crypto market for the Long term what do I do I diversify and I'm always comfortable with the levels Of risk I'm taking on a cryptocurrency And I am in it for the long term as well Guys that is a big update on the crypto Market today hope you guys enjoyed it Have a good weekend and I'll see you Guys in the next one crypto Zeus signing

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