[00:00:01] Welcome to Crypto Talk radio, the podcast for everyday investors like you. Visit us on the
[email protected] and now here's your host, Leister.
[00:00:13] Thank you for that, Bailey. And welcome everybody out there in Crypto Talk radio
[email protected] we finally have another update on Manny the rug puller from Saitama, the site of Saitama Scam Syndicate. We finally have another update. This came a little bit ago. I'm playing catch up on it. I didn't want to do the update immediately and get something wrong. I don't want to do the guy disservice after his rug pulling. So I got an update on that one. A little bit of news bits, nothing crazy, nothing major. I do have a brief mention on the garbage that's blocked egg for those that may be interested.
[00:00:48] But the vast majority of the episode I think is going to focus on the rug puller because it turns out there's more people that were in the scam syndicate. I'm not talking scammers. I'm talking people that were affected by it. They're more than I thought, you know, they're out there and I've run into quite a few of them out in the wild. It's like, yeah, do you know this happens Saitama over here. And I'm like, wow, did you know that the kindred spirits. So we're going to talk about unfortunately this garbage of Saitama the Scam Syndicate. Today for the best story of the episode, I think foreign.
[00:01:24] Market cap.com will zoom out to the mud chart starting with bitcoin currently trending at about 77000 bucks with a very strong upward trend. Did not hold the 81, 000 that it hit. It started to go back down as I had warned was likely the case last week here on the show at CryptoTalk FM that it seemed like we were going up, but we needed to have a little bit of steady state, possibly some down before we went up. I see upward right now. I don't know if it's strong upward, but I see upward. I see that we have an opportunity to do some more to break out. And there were chats on the. There was something about JP Morgan and some others getting on chain. There was talk about just trading into dollars flowing on chain. It didn't move the needle because it's at this point, I think it's in a formative stage. And a lot of that wouldn't trickle down because a lot of that would be contained in Pockets of assets that would not broad spectrum the market. Like if you think of what makes the market run, what makes the market run is asset distribution and redistribution.
[00:02:27] I'll talk about that briefly.
[00:02:29] Astra, Asset distribution is what, you know, it's exactly what it sounds like. There's assets that hit Bitcoin, there's assets that hit memes, there's assets that hit Ethereum, there's assets that hit gambling, there's assets that hit other classes, and that's distribution.
[00:02:44] Redistribution is assets that are already in a certain asset class within cryptocurrency or otherwise, that then get redistributed to something else. You sell out of Bitcoin off profit or sometimes at loss to buy into some dog mean garbage. So it's redistribution. So some of those generate unrealized losses, some of them are realized losses, some of them are just transactions. They're just basic transactions of take profit from this, buy into this, because you're going to get a larger bag.
[00:03:11] When we understand distribution and redistribution of these assets, it gives us a broad picture of what's going to happen with the larger market. At least it should. We should be able to take a look at where the assets are being distributed and redistributed and get a sense of what the next asset class is that's going to be pumping up. What we saw that with silver, when silver had its run up, you know, a year and a half ago, whatever it was, that's simply a model of redistribution. There was some supply constraint contributing to it, but redistribution played also a factor because we didn't see significant run up of all of the precious metals, simply the one in Target. And we saw a decrease in the value of cryptocurrency during that same time period. We also saw that bonds and stocks were not as strong as they might have been otherwise. So this is redistribution playing out in simple form. We just have to look all of the different asset classes tell a story. We use the story to predict. This is how everybody normally does it. Those that are looking at the chart and they make a prediction, they're simply reacting to the aftermath of this distribution or redistribution. As it has happened, it's still painting the same picture. We simply follow the assets and it tells us a story.
[00:04:24] Ethereum, on the other hand, currently hovering around the $2,400 mark, has a high upward trend or a strong upward trend, but it's tapered off from the upward trend we saw. Last week I said that the theorem looked like it was a little bit stronger than Bitcoin. Might have done. Part of that was some of the other garbage that people were investing in. There were some other meme chain or something that launched and that took some steam off of Ethereum. There was Solana, took a little bit of theme off of it. There was a little bit of pump fun activity. A lot of these other things that are tertiary look it up to what's going on with Ethereum I believe was a simple redistribution of assets from Bitcoin towards these other asset classes such that I do think Ethereum is going to go up. I just don't think it's as strong as it was the last time that I talked about it. Keep an eye on Bitcoin. I would say Bitcoin is the next to keep an eye on to see if it's able to get over its current resistance point and start doing a run up up to the next level. I don't know exactly what the right fair next level truly is.
[00:05:25] Maybe somewhere in about the $83,000 mark that's a spitball off top of my head. Could be way off rocker brief tidbit about the garbage known as Block Dag. I'm not going to spend a lot of time on it. I'm simply writing the update. For those that are listening to the show Crypto Talk FM that come from that world and are just somewhat looking for updates, there's a couple of different things. First of all, the former CEO, I say alleged CEO Anthony Turner does have his own channel. He started up. He has one video out there.
[00:05:54] His video is essentially a confessional and it sounds like it's a part one. That's how he positioned it. He has not Posted a Part 2 as of yet, but in the video he said it's going too long and I'll come back at it. So he's doing a part one, but he was explaining his position about what happened. In summary, what he said was when he was brought in, all they had was a marketing team. All they have was marketing. This would have been right around the transition from Euler to Block Dag when it rebranded. So it's possible this is all theory possible that the rebranding was simply a marketing technique. They reached out, as we knew to Turner at least initially to build a team to be the face of the brand and put some doxing on it.
[00:06:35] Turner then said he went out and hired other people to the team, which I'm assuming included Dr. Hurley, you know, and and multiple Jeremy right now if we go off what he said, which is that and I Don't have reason to disbelieve it. I'm saying if we go off what he said, which is that initially he was in communication with the marketing team with.
[00:06:56] He was in communication with him directly. He was. He believed. This is his words. I paraphrase. He believed he could steer them in a different way. He believed that he could get them to do things a certain way. And then he realized after the fact that he wasn't able to convince them otherwise. My question then, why would you accept the deal to own this position that's going to put your face on something that ends up being a scam? He said himself he had concerns up front with the hype marketing. So why would you put your face on something that's hype marketing? And why would you not level set and get it in writing? I run the game. If I'm going to be that, I run the game. I call the shots.
[00:07:35] My theory, he said that he was excited about the potential. He saw potential in it. My theory is that the money at the time attracted him. That's theory. I wasn't there in the room. I wasn't even there. But I suspect that's what really happened. So that's number one. The same question I got for the idiot Nick. It's like you stayed. You stabbed Turner in the back. You stayed. You and Jeremy, even though you saw Turner get fired, you were there when you saw turning get fired. Turner said that there was a separate Slack account, a whole different Slack server that was for the marketing communications separate from the one for the technical team.
[00:08:10] My theory, and I can't prove it, but my theory is that Nick had access to this other marketing thing and they were trying to poach him off the side behind Turner's back. That's theory because it just was suspicious. Turner said that one day he was cut off. He didn't have access to Slack. He hadn't been paid for months. They stayed despite not. He said, despite not getting paid for months, they still stayed. Same with Nick. Same with Jeremy. I want you to make it make sense in your own mind. If you're dealing with something where you got a job with something where they're telling you this is what's going to happen the moment you stop getting paid. Are you going to still work?
[00:08:46] I'm asking, are you still going to work when you're not getting paid? They he said somewhere not paid for months.
[00:08:53] Use common sense. You're likely going to be like, screw that. I'm not going to show up to work till you pay Me, you better pay me. I'm not going to show up because what do you have to lose? You're not getting paid anyway. But they stayed for months. It doesn't make sense. It doesn't make sense for any of them. That's why I said there's more to the story that even Turner's talking about. Regardless, he says that from his angle he was trying to do something. He saw that it was kind of sketchy in hype marketing. He thought he could course correct that. He thought he could convince them to do things more solid. And then he tried to dissuade, look it up, the use of the bonuses or aggressive use of the bonuses. And then it was too late. And then the 2049, that was the 2049% chaos. Remember that one that allegedly he was trying to get in front of that and turn it all down, but he wasn't able to convince them to do that. Now the reason he's speaking now is, remember said he already violated in the NDA. So he's talking now because the NDA is already violated. Now I question how come nothing was done?
[00:09:49] How come nobody's gone after him? He's allowed to openly talk like that. That's kind of suspicious. I just think it's weird. I think it's just totally weird. In any event, this September 1st they did a thing on the Bach dad crap. They did a thing talking about if you buy more, we'll do a buyback and you'll get your buyback. On September 1st they sent an email saying that here's the site where you're going to be able to claim for your buyback and it's the stable coin, that beta, which isn't real, it has it right on the page. There's no connection to Fiat, there's no USDT equivalency, there's no guarantee of return. It's basically monopoly money for all intents and purposes. That's what they're pointing you to in the email. So despite them telling you you're going to get USDT on the buyback, they're pointing you to the stablecoin site. The stable coin doesn't do you any good because you're not able to get any sort of money back out of it. It's just. It's essentially monopoly money. That's the best analogy I can put on that one. So I don't know what's going to happen on October 1. Remember, the initial buyback was stated for October 1, not September 1, as September 1 was around more marketing to get more people to buy. And then this is fresh off of whatever this fork truly is or was, which I said is Jeremy and Nick going rogue, trying to create their own chain where they should have just created a different name that rhymes. But they wanted to hook into marketing and try to use the name because they knew they weren't going to market it on their own. They knew it wouldn't succeed. That's what they should have done, is standing alone 100%. They didn't do that. Now we have uncertainty on both sides. There are people telling you to go to the community side. I'm telling you, I looked at the numbers. Things are not current and correct. Some of these are not in consensus. Some of the peers are not running correctly. They tell you to set up your own mining deal. I'm sure that you could. They say, set up your own node. I'm sure that you could.
[00:11:31] My whole beef with them is since you have your own chain, you could make people whole if you wanted to. Remember, also, Nick is on the. They have a site on the BDAG community. They have a site and you can see that Nick is one of the top miners. He's actually mining with one of the ASICs. So he got ASICs, right? They got ASICs and they're already generating a whole bunch of coins long before anybody gets in. Do you know what's going to happen? What's going to happen is at some point they're going to dump off of you.
[00:12:00] I want you to hold me to that. That's why I put it in audio, because I want you to hold me to that. I don't make such claims. These are things where the. It's a playbook, just like he's doing a playbook. It's predictable with them. If they really wanted to be fair on the community side, we wouldn't see them mining with ASICS before anybody could get any. That means they're stacking on the. On the cheap. They're stacking all these coins on the cheap, preparing to dump on you. Why else would you do it? Why else would you be ahead of that? They would say, well, we have to support the network.
[00:12:31] Okay, then take the coins that you generated and put them back into the community somehow. Why don't you do that? I have no idea. All I'm saying is I want you to hold me accountable for my audio about what I said, because I think they're going to dump off of you. That's my theory.
[00:12:46] The remainder of our episode is going to talk About Manny the rug puller from Saitama, the Saitama Scam Syndicate. There's finally an update about many the rug puller. I've done a couple of updates. There's not significant traffic in terms of news updates about this one. And I want to tell you why first, before I get to the update first. This is all happening in the uk. The uk, unlike the United States, does not make their stuff public. They actually have it where you can walk in there. So, like, if you're a court reporter or if you're press journalism, you can actually go to the court and sit in and listen to the proceedings. So they are open proceedings, but you have to physically be there. They don't have, like streaming. They don't have documents on a site like the US has. So you'd have to physically be there. So you'd have to work with somebody in the UK who's willing to go and sit in through those trials and go through the whole process and listen for these key things. They have to be really good at their job, and there just isn't a person.
[00:13:41] So we have to wait. There actually is a service that you could pay for that. These court reporters, they'll publish their notes out to.
[00:13:50] It's like hundreds of bucks a month. I wasn't gonna do hundreds of bucks a month for updates where it's like once every five months or something. It's not worth it.
[00:13:57] And I wasn't gonna join because you can't even sign up online. You have to talk to somebody. You have to give them your card online. That doesn't work for me, brother. So that's why there's not frequency of updates about the rug puller because it's in the uk. Turns out that may change because allegedly Manny the rug puller lost his case. He lost his appeal. I should say lost his appeal for being extradited to the United States, sir. Trial for scamming people. The trial where they want him to be held accountable is in Massachusetts. That's where this all started. Boston, Massachusetts. That's where Max Hernandez was as well. That's where Russ cult leader initially was until he moved. I think he moved to Texas.
[00:14:39] So Boston, Massachusetts is the heart and soul of where Saitama originated. And so that's where the court, all the filings and everything was set up. That when they went after him and all these different market makers that were pumping the token and they were working with Stama, that Alexei guy, he's been locked up, all of these different. All of them. There's multiple People Russ Cult leader Pled admitted his guilt. Max Hernandez Pled admitted his guilt. Nam Tram fled overseas. And so the point is that they've been trying to extradite him for the longest time. Now. One of the prior updates I gave about the extradition. First it was out on bail. Remember? He was out on bail saying he's not a flight risk. He lives in the uk. He's not going to run. It's whatever. Then it was, well, you know us. You don't have any proof I ripped anybody off. You don't have any proof I ripped off an American citizen. Why am I tried there? I didn't do anything. And I said, no, you're culpable because you worked for an organization formed in the United States as one of their executives and you were part of the failed November 13, 2021 Vegas event. Your name's all loaded. So that makes you culpable.
[00:15:42] Called aiding and abetting. You were part of that. Then it was, well, but you can't send me out there because mental health's going to be a problem and they mistreat their prisoners out there. Now, he's not lying, but you know what I'm saying. They mistreat their prisoners. It's a mental health issue. I might commit suicide. That was the last defense he was doing. That's what he just lost. He just lost his last defense. The judge says, I'm pretty sure we can make arrangements to keep you safe. And they've done a lot of stuff in their prisons and everything to keep you safe, like rest. Cult leader. I'm pretty sure he didn't die or commit suicide. So they're saying you don't really have a case to not go. You need to be held accountable. So he lost that one.
[00:16:18] All that happened over the past couple of weeks.
[00:16:22] So some of the numbers that were thrown out about this and some people that were not in Saitama may not understand.
[00:16:28] So I'll repeat. But I do have a whole playlist about Saitama Scam Syndicate. You know, just look at Saitama Saga as a playlist. I've got a whole bunch of coverage on that. One believes crypto. He still has his tatama videos out there, which I argue were the peak of him. I think I was the best of him and I wish he would go back to that regardless.
[00:16:48] So he has some coverage. Rodney Crypto Journeys. He has some coverage.
[00:16:53] I forget the other gentleman's name. There was one guy and he was part of the. Some of the exposure and some of this coverage, I forget the guy's name. There was a couple of people in addition to myself that were talking about this whole saga. So this copious information is the point if you want to kind of catch up about what's going on with this. And I think Crypto Stacker was on it too. There's another guy I'm forgetting the name.
[00:17:15] Point is that there's. There's no lacking of information about the scam is the point. Even some of rest cult leader stuff still out there if you want to. But just to kind of put it in perspective with this. So this Saitama, it was just a meme. That's all it was, was a meme. It was created by V Fam.
[00:17:31] V Fam. She was the one that was behind Robo Inu. But she created Saitama. Then she handed it over to the scammers. Right? So to do that initially she was part of the pumping, but she handed over to the scammers. And the allegation at the time was that she had either sold or given some tokens prior to them making it available in the open market, which gave them the advantage. That's what I was talking about with Nick.
[00:17:54] Them mining a whole bunch of coins. So they're sitting on fat bags before it's available in the open market. That's why I said it's a playbook. Because Saitama did the same thing. Now in that case they were already essentially pre mined. That was the issue. They were pre mining. And plus they got reflections because it had a reflection model.
[00:18:13] So they were sitting on large bags long before anybody was able to transact on it. Then this is where the artificial pumping took place. They were sitting in telescam channels with this got bit and some others. And Max Hernandez was in front of this where they were artificially pumping the token's price. Doing artificial buys and sells to push the price. The order books up. Then as people were FOMO buying into it, including the doctors from Terrarium. This is leading up to the fail. November 13, 2021 Vegas event for this we saw a high number of $7.5 billion market cap for Saitama. It was one of the things that was talked about more than even shib at the time. That's how I found it was the ship community in fact. Because people were like what the hell's going on there? And then there was other like not Hodl Token Dior Dior Token Striker striking.
[00:19:05] He was talking about geez, why isn't anybody involved with this? Everybody was talking about it. It's a big Deal. They were doing advertisements. They did advertisements in Times Square about this mass that they were creating. We're going to redefine finance. Mind you, the reason that it got so much visibility is because gas was outrageous on Ethereum, was still proof of work. So you might be paying over a hundred dollars on the low end for the gas just to do a basic transaction. It was out of. It was out of control. So Saitama does this sales pitch where they tell you you can use your Saitama tokens, their tokens on Ethereum for gas instead of having to use Ethereum. That was the whole main sales pitch. So you have one place to go. All you have to do is use our deal, hold your Saitama tokens, use them for this. Then later they were talking about Cytocard, Cito Logistics, Cider Realty, and all these things they plan to do.
[00:19:56] So that got so much excitement happening, they then decide to do a Vegas event.
[00:20:02] The Vegas event, which is actually very similar to Keanu Inu. And there's people from Keanu Inu that were in Saitama, including Blizz. But the. The Vegas event was a big thing back then. They were planning to do this whole shindig. They did the Times Square marketing, everything, saying the mask will be available for you to install, download and use the day of the event.
[00:20:23] Max Hernandez is supposed to be the one creating it, or at least leading the team to create it. I did that coverage in the playlist. Check it out.
[00:20:30] We get to the event and Jake Gain, who's another influencer, apparently, according to Christina, who was the. Or is the ex wife of Russ.
[00:20:40] Turns out she got arrested, by the way, for something different.
[00:20:44] But apparently according to Christina, Jake Yang was specifically talked to by the Saitama people to, quote, hype the token. And he was there filming. Now his filming. I don't know if it's a cell phone or something. I remember the video and I've got it somewhere buried in my archives. But he had. He was streaming it. He was trying to live stream it and he was like drunk. He was drunk and he was asking people for money to buy more drinks. That's. That's how bad it was.
[00:21:08] So. And they didn't have a mask. Russ went on stage and he's like, yeah, we don't have the mask. We're just gonna sit here and celebrate. And that was it. The thing cracks. It completely craps. Takes billions flowing out of it.
[00:21:22] Allegedly one of the doctors, Dr. Praveen, goes back to the hotel from the event to buy more Saitama to help hold the floor. This is what I was told. Bleeds, I think mentioned it. Help hold the floor.
[00:21:33] But the point is the price never recovered. It's going down, down, down, down. Now it turns out, using the court docs, that Nam Tran, who was part of this whole business, plus some of the other ones, they're still in the background in their telescam channels.
[00:21:47] Nam, there's one page and it's like Nam's going, I said hold that. He tweeted out to people telling people, don't sell. You know, just hold your. While they were dumping their bags, they were selling and selling and selling to get out.
[00:22:01] Exit scam, right?
[00:22:04] All of the exit. The exit activity with telling people to hold plus the artificial pumping, those were the key things that, that nailed them. It was. If they had just did, let's say they had just done the artificial pumping itself but never dumped it, I don't think the government would have gone after them. I think what got them is you're doing the artificial pump. Then you do an exit scam by telling people to hold while you sell.
[00:22:29] Yeah, you, you really have no justification. You have no defense. I think that's what got him. Well, $7.5 billion at the peak. They claimed that Manny the rug puller man, Preet Kohli, aka Manny the Hip Fan, they claimed he banked $20 million of that total, of the total that was taken by all of them. Now I want to put in perspective here, okay?
[00:22:56] If Manny the rug puller, just him made 20 million freaking dollars, consider how much money, because you had Nam, you had Russ, you had Max, you had Christina, you had rug puller, Aaron Mossini, and then all the other tertiary people, right, that were brought in at points, all the Islam, Makachev, like all the people that are paying, all the. Think of how much money was flowing to all these different people and situations. Money given to events, money given to advertisers, money given to market makers. There was crazy amounts of money on this thing with nothing to show for it because they didn't have a product. All it was was hype. It was just a hype based business. And he allegedly gets $20 million on nothing but hype.
[00:23:48] So they're, they're allegedly going to be able to try to pull the guy back. He still has another appeal he can do, but it's not looking good. As I said on the update I covered, I said, I don't see how he's going to have any sort of case to stop this. Because again, he was part of it. It's not like he wasn't. He was associated with it. He clearly was. He's on video admitting he was. He was directly involved. And then he took over Cytochain after the Saitama thing crapped you. You can't. That became a Ponzi scheme. So you're all in it then. I think he was at least partially in reserve. Not full but at least partially before he got nailed. It's like this is a Ponzi. They're gonna go. They're gonna get you, dude. You're not getting away. And I think. I don't know. But I think one of these guys dimed him out. Whether that was Russ or Max or whoever. I think somebody dimed him out with some of these details.
[00:24:41] But they got all sorts of evidence. His whole thing was. I've only ever been in the uk.
[00:24:46] I'm the UK citizen. I'm not running anywhere. I didn't rip off a US citizen.
[00:24:51] He doesn't really have a strength of case from my lens. I think he's toast.
[00:24:56] We'll have to see what happens. But right now he's still out on bail. So he's free and he can appeal.
[00:25:02] But I don't think he's going to be able to stop extradition. I. I don't see that he will.
[00:25:09] The connection is interesting because there are people in Block Dag who came from Saitama. So those people fell for it. Again. Hype based marketing. Which is why it keeps happening. Because they know it works. No product to show for it. Nothing to show. And there's a whole bunch of money allegedly put in. Now we know way more money was put in Saitama than for Block Tag. So when I hear people that square. Block Dag is like the biggest scam. If unless you were near in or heard of Saitama, you'd be laughing at that statement. Block Dag is a fraction. A fraction. A pale fraction of what Saitama was doing.
[00:25:48] Billions of dollars. Confirmed.
[00:25:51] You don't have to trust me. Go to Blease Crypto's channel. His history is still there. He'll tell you in some of the old stuff with the channeling that looked amazing. He'll tell you what it was. No. There was billions of dollars in that business. There was a lot. There's a crazy amount in there saying that Block Dag is the biggest scam. It's not. It's nowhere close. It's a fraction of it. Fraction of it. I think Hawk Tua did more than this.
[00:26:14] And she didn't Serve any time. So we have to start, we have to stop with some of these words. People are smarter. That's our good takeaway. People are smarter. We didn't see billions flowing into Block Dag, so it got cut off the pass.
[00:26:27] I don't think they're getting the money that they thought they were gonna get. They thought, as I said, they're gonna repeat 2021 with what they're doing. Everything in, in Block Dag's playbook is straight out 2021. That's why it's predictable. That's why it's easy to understand.
[00:26:41] You're doing the same shit that was done back then. We knew what that was. That's exactly what it was. It was hype based marketing. And then behind the scenes, they're doing whatever the fuck, but that's all you had.
[00:26:52] So it's easy to predict it. Which means it's easy, easy to prevent it, it's easy to avoid it if you just recognize the clear parallels of overweight CEO lying to your face. Check.
[00:27:04] Hype based marketing. Check.
[00:27:07] Partnering with an MMA fighter. They both did it. Check.
[00:27:11] Vegas advertisements. Check. Like, dude, a mask side of mask versus super app. Check. Everything is the same other than the casino. Like it's. That's literally what it is. Because even the blockchain side, they, the exchange, they were talking about doing exchange.
[00:27:28] Rezer was gonna Rezer, I think they launched an exchange. They were doing exchange cider chain, blockchain layer zero, but still blockchain. See the parallels? It's the same shit, right? So you learn to predict the pattern. You create the pattern. You recognize the pattern for what it is. You realize it's a simple playbook.
[00:27:47] He's following the same playbook. The playbook that he saw worked in 2021, but that's 2021. People are smarter now, or should be.
[00:27:55] That's why I said, you know, it's just a ride and do nothing. And those that were curious, I said do nothing because doing nothing is the safest thing right now. Do nothing. See what happens. Because if you take any other action, you're simply falling for the trap. It's just more FOMO based marketing. And I'm interested to see that's the Thomas coming back up under the wa from underneath the water once again, just like it was in the old days, right? At the same time, he got blocked. Dag, that's a throwback to those very same times with the very same playbook and the very same faulty strategies of marketing that got people duped. In the first place, Sam.
