WEBVTT

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Ripple and coinbase fight back against the
sec leveraging the recent Binance decision from the

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judge that secondary market sales are not
securities and Consensus scores a massive win in

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the lawsuit against Gary Ginster and the
sec with regardless to MetaMask and billionaire crypto

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investor Mike Novogratz is saying, no
matter who wins the election, we're going

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to get positive crypto legislation. I
know that, and Robinhood is expanding their

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crypto services throughout the nation and looking
at launching news services around crypto. We're

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going to break this down in much
more. Let's get into it. Hey,

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everybody, welcome into the Thinking Crypto
podcast. You're home for cryptocurrency news

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00:00:46.880 --> 00:00:50.119
and interviews. I'm your host,
Tony Edward. On your way in.

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Please let that subscribe button as well
as the thumbsup button and leave a common

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please leave a five star rating and
review. Here's a quick word from our

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sponsor. Meme coins are all the
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into many of these meme coins.
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cooin and so forth. But I
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four of twenty twenty four, so
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it's kind of unknown, but it's
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this early stage. And it's possibly
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anyone can participate in their funding round
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seen many meme coins do incredibly well
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of blown away by what has happened, but it is what it is.

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That's what's happening this bullmarket cycle.
So could this raccoon coin do one thousand

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X. It's possible. So if
you'd like to learn more, go to

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raccooncoin dot org. Link will be
in a description. As always, do

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your own research. All right,
folks, we've got big news that both

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ripple and Coinbase are leveraging the recent
decision in the Finance case where the judge

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cited that secondary market sales are non
securities. She's in full agreement with Judge

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Taurus's ruling in the Ripple case.
Now, Ripple has followed a notice of

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supplemental authority regarding the recent Finance decision. Essentially, Ripple is saying the opinion

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is relevant to its opposition to the
SEC's motion for remedies in its ongoing lawsuit.

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Now we know the judgment between the
SEC and Ripple may come soon,

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and I believe Rippel will have to
pay a fine. But the SEC wants

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near two billion dollars. Ripple is
saying hell no. So they're having a

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bit of tug in war right now
and we'll see where it goes. I

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don't think Ripple is going to pay
anywhere near a b I think maybe fifty

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million. It could be lower,
could be higher, but I think it's

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going to be in that range.
What's fascinating is that today we got news

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that a xrp ETF has been launched
by a company called Virtune and it's listed

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on Nasdaq Stokholms. So it's funny
that across the globe. There's clarity is

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just here in the United States we're
dealing with this nonsense. However, the

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recent approval of the etherorem SPOTTYTF is
going to open the door for the rest

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of the all coins. But as
I've stated before, the lawsuit between Ripple

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and the SEC will need to be
resolved before an x orp ETF gets approved.

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But pretty interesting that this is happening
globally. We're seeing Solana ETFs go

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live in Canada. We just had
the recent applications for Solana be filed here

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in the United States. So things
are ramping up and the SEC is on

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the losing side of history here,
or I should say Gary Ginzer, because

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he's the one that's causing all this
nonsense now. Coinbase also leveraged this decision

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in the Binance case. They sent
a letter to Judge Falia citing Judge Jackson's

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opinion about secondary market sales of digital
assets from the finance case. Coinbas says

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Jackson's ruling reinforces its grounds for requesting
an interlocatory appeal in its own case.

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Coinbay's chief legal officer, Paul Grewall, weighed in on this, saying We've

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now shared word of Judge Jackson's decision
in the Binance case with the Third Circuit.

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Rulemaking is the tailor made and the
only rational solution to the scourage of

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district dependent and even judge dependent regulation
by enforcement. Reappreciate the court's consideration so

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clearly he's alluding to it here.
This is regulation by enforcement and we need

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Congress to act now. Consensus scores
a big win against the SEC here.

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Folks. Remember the SEC dropped their
Etheroremy investigation recently via Consensus and the Etheroeum

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Foundation, but they went ahead and
sued Consensus regarding Meta Masks because they feel

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Meta mask is doing a securities offering. The wallet is a broker dealer because

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of staking, which is nonsense.
And eleanor Terrotor says Indie Consensus lawsuit against

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the SEC. A Texas judge has
granted Consensus lawyer's requests to expedite making a

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decision on whether the SEC has authority
to regulate Meta Mask as a broker dealer.

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Looks like a possible ruling by the
end of year slash early twenty twenty

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five. And Bill Hughes, lawyer
at Consensus, I just recently had him

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on the podcast. Be sure to
check out that interview. We talk a

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lot about this. One of the
things we discussed was in the Coinbase case,

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the judge had ruled that Coinbase wallet
was not eligible for that broker dealer

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rule, So you know, they
could use that to push back against the

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SEC, which I think they are
doing. Bill says important news about Consensus

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versus Gelser. Judge O'Connor granted our
request that he considered the merits of our

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case on an expedited basis whether the
SEC has congressional authority to regulate Meta mass

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as a securities broker and issuer.
Those questions would be considered alongside any arguments

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the SEC would make that we don't
get to bring a case against them.

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So folks were on the winning side
of history. We've seen a lot of

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victories in the courts. Don't get
me wrong. There will be some things

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that the SEC wins on, but
the majority, the meat and potatoes of

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this, they're going to lose.
It's clear the judges are not putting up

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with the lies and hipocrisy and nonsense. The SEC is trying to abuse the

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HOWI test, and we know it's
a political agenda handed down to Ginzer by

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Elizabeth Warren to protect the tradify incomments
who are getting disrupted. And we need

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Congress to push legislation which made it
through the House, through the Senate,

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and obviously it needs to go to
a president. But that won't happen immediately

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because we're in the election cycle.
It's going to happen in twenty twenty five.

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Now. Speaking of that, Mike
Novograt's a billionaire Wall Streeter who now

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invests in crypto. He was on
CNBC this morning. He says, no

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matter who wins the election, we're
going to get positive crypto legislation. I

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know that now. Mike is a
very well connected guy. So let me

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play the clip here for you.
Mike. I'm not a singleish you voter,

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and I do fundamentally believe crypto should
be bipartisan and needs to be bipartisan.

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We can't have one party that likes
us in the other party that doesn't.

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And I would tell you that most
Democrats outside of Elizabeth Warren and a

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small group of people are pretty pro
innovation and pro crypto, and so it's

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been unbelievably frustrating. That's all shifting, and you can listen, no matter

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who wins the next election, we're
going to get positive crypto legislation. I

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know that. So there you have
it. Once again. I believe this

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because I've seen it with my own
eyes that the Democrats sided with their colleagues

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across the aisle the Republicans to repeal
SAV one to one in the Senate and

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the House, and also to pass
the FIT twenty one bill out of the

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House. Remember it was over seventy
Democrats that joined with the Republican colleagues.

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So they see the writing on the
wall. They're turning their backs on Elizabeth

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Warren and Gary Genser and despite what
Biden has been doing, and we know

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it's not Biden, right, it's
not Biden's decision. He's just taking orders

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from Elizabeth Warren and the rest of
the cronies like schirod Brown and so forth.

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So we got to keep fighting.
But we're winning here and the pressure

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is mounting on gainst Her And look, the Democrats are in trouble right now

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because of Biden's situation, and Trump
has come out to be pro crypto.

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That's not my feelings or emotions,
that's not me trying to endorse Trump or

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Biden. I'm just stating the facts, the reality of what is happening here.

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And it was an incredibly dumb strategic
move by Elizabeth Warren to go anti

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crypto army against an entire industry and
technology and Donald Trump capitalize on that.

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So I recognize the politics of this, but I think the rest of the

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Democrats are not on board with Elizabeth
Warren and Gary against anymore. And I

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think they're going to try to make
this get pushed through because the crypto industry

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has become a political force. They've
raised over one hundred and sixty million dollars

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via fair Shake, and they're donating
to pro crypto candidates, they're running ads,

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and we're seeing anti crypto candidates are
losing. So things are moving in

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the right direction for the industry,
and I think Mike is spot on here

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now. Moving ahead robin Hood,
they are expanding their crypto trading to across

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the nation, so it includes Hawaii, Puerto Rico, and the US Virgin

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Islands. And Johann Kerbat, who
is the head of or general manager of

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crypto at robin Hood, tweeted out
Robinhood Crypto is now available across the nation.

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There's also reports that they are considering
listing crypto futures in the US Europe.

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Bloomberg is reporting. So right now
they offer obviously spot trading right you

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guys can go buy and sell crypto, but the futures market that would be

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pretty huge for Robinhood and I think
it's a big strategic move. They already

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have an incredibly large customer database,
so any product they launch will hit the

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ground running. They're going to get
a lot of adoption, so it's a

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smart move on their part. I'm
going to try to get Johan on the

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podcast to talk about these things.
But big news from a big player.

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Final news item here, Japanese public
company Meta Planet buys another two hundred million

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yen worth of bitcoin. If you
recall, they've been raising some debt,

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public notes and so forth, kind
of what micro Strategy has been doing,

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and they're buying bitcoin and putting it
on their balance sheet. Folks. This

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is happening globally. It's not just
micro Strategy here in the US. A

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lot of companies are doing this and
it's a sign of what's to come.

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A lot of demand for bitcoin now
as a reserve asset these companies are protecting

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their cash reserves, they're buying power, and it absolutely makes sense. And

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obviously you got Wall Street with these
et apps, and there's been incredible inflows.

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And then I think we're going to
see another country, maybe Argentina,

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and are some other nation state or
nation states start to follow El Salvador's move.

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So, guys, this is why
I'm bullish on bitcoin. I don't

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think it's the fastest crypto. I
don't think it's the cheapest crypto to use,

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but as digital goal, a store
of value, an asset that has

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a very finite supply, has the
branding, has the trust, has the

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regulation, I think it's important to
have some in your portfolio. My entire

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portfolio is not consisted of bitcoin.
Obviously, I've often stated that all coins,

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many of them outperform bitcoin, but
bitcoin is on the risk curve,

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the less riskiest assets in the crypto
industry. So you want to have some,

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00:11:16.879 --> 00:11:18.919
you know, be diversified. And
that's how I approach it. And

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when all coins are not doing well, and we know bitcoin is the main

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driver of liquidity for this entire market, bitcoin holds up my portfolio and I've

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00:11:28.720 --> 00:11:31.799
made money doing that. Guys,
So just sharing what I'm doing, not

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00:11:31.879 --> 00:11:35.639
financial advice. Obviously, do your
own research, but guys, let me

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00:11:35.679 --> 00:11:39.519
know what you think. Leave your
thoughts in comments below. Also, don't

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00:11:39.519 --> 00:11:43.759
forget to grab a copy of my
book Rethinking Crypto, The Crash of FTX

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00:11:43.799 --> 00:11:46.440
and the Rise of Safer, Stronger
Digital Assets, where I talk about Bitcoin

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00:11:46.679 --> 00:11:52.919
ETF adoption by Wall Street, tokenization, crypto regulations, why the sec attack

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00:11:52.080 --> 00:11:56.639
ripple, and why they didn't approve
the Bitcoin ETF with greyscale and all these

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00:11:56.639 --> 00:12:00.360
things. So grab a copy to
support the podcast, Grab a couple of

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00:12:00.399 --> 00:12:03.799
copies for your friends and family who
are still skeptics about crypto or want to

166
00:12:03.840 --> 00:12:05.720
learn about it. And if you
bought a copy already, please be sure

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00:12:05.720 --> 00:12:09.200
to leave a rating review on Amazon. It would really help me out.

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00:12:09.519 --> 00:12:13.679
Thank you guys for watching and listening. I appreciate you all and I'll talk

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00:12:13.720 --> 00:12:13.840
to you all later