Hey everybody, Welcome into the Thinking Crypto podcast. You're home for cryptocurrency news
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and review. Folks, we have some very big news around JP Morgan and
Fidelity. So Fidelity International tokenizes money market fund on JP Morgan's blockchain. The
UK firm joined JP Morgan's Tokenized Collateral Network TCN, piloting the tokenization of its
own money market fund with Onyx digital Assets. Now, before I give you
additional details, I want to give you some context, and we've often talked
about it that Jamie Diamond for years has been spreading fut about bitcoin and crypto.
We've seen the man come out and talk negatively about bitcoin. We've seen
the SEC come out in a hack crypto startups, yet Wall Street firms are
setting up shop and not getting Wall's notices. Well, here's further proof that
the SEC has been weaponized by incumbents to come in and take over. So,
despite what Jamie Diamond says, his banking company is investing in crypto and
building with it, and they're trying to introduce their own versions to compete with
the project, the crypto projects and blockchains that are out there to public ones.
Right, it's the classic story the incumbents getting disrupted. They go and
they pull their political strings. They make the call to Elizabeth warning Gary Ganster
and say slow or stop or kill these startups. Not kill crypto, kill
these startups until we can catch up. And here's a clear example of how
they're trying to catch up. So let me give you the details here.
Fidelity International, a London based funds management firm, has tokenized shares in a
money market fund using JP Morgan's Ethereum based private blockchain network on ex digital assets.
Now, many of you know JP Morgan was an early investor in Consensus
back in twenty eighteen. They were helping to build Ethereum. They did a
private fork of Ethereum called Quorum that eventually evolved to onyx, and they launched
jpm coin, which is a stable coin that they use on a private on
the private blockchain, so it's not public. But clearly, once again as
much as Jamie Diamond spreads fud about this industry and so forth. He's using
the technology. Why it is the future. It's the next layer on top
of the Internet. And tokenization of real estate and securities, stocks, bonds,
and so forth is what's coming twenty four to seven. Trading no more
opening or closing bell a full global market and because of tokenization, it creates
secondary markets, tertiary markets, and much more. That is why JP Morgan,
the world's largest bank, is taking the time and resources to do these
things. Folks. They're not doing it for fun. They're here to make
money and they recognize the disruption that is at their doors, so they're trying
to catch up here. So tokenization occurred near instantaneously through connectivity between the funds
transfer agent JP Morgan's transfer agency business and Tokenized Collateral Network, an application that
sits between a collateral receiver and a collateral provider on the bank's Onyx blockchain set
Fidelity International, which is a separate entity to the US based Fidelity Management and
Research. Tokenization of traditional financial assets has become a priority for banks, and
it's an area JP Morgan has been working on for some years. The essence
of tokenization is to create on a blockchain a virtual investment vehicle representing real world
assets such as real estate, precious metals, and collectible stocks and bonds work
too. Fidelity International also has a long history with digital assets, most recently
working on a tokenization project with Swiss banks Signum in March. In October last
year, JP Morgan carried out its first live blockchain based collater settlement transaction involving
tokenized shares in a Blackrock money market fund. The shares were transferred to Barclays
for collateral in an over the counter derivatives trade. Blackrock has gone on to
further embrace tokenization through its public facing build a project with tokenization services firm Securitize.
Now we know Blackrock is using etherorem and they're going to expand to other
blockchains as well. But clearly, folks, if you were on the fence
about blockchain and digital assets and tokenization, wake up. The world's largest bank
is involved, and we know the world's largest asset manager, Blackrock is involved,
and the rest of Wall Street is also doing the same. So bullish
times ahead. This is why I often say watch what they do, not
what they say. If you are listening to Jamie Diamond all these years and
you didn't do your research and take a position. He fooled you, he
played you, and he'll probably his bank is going to call you up near
the peak of the market to sell you these assets. So wake up,
call there if you don't recognize what's happening. Now. We got some interesting
updates around the ethermi's body TF. We know the SEC approved phase one,
which is the nineteen B dash force, and we're waiting for the S one
approvals for these ETFs to go live. So James Safer to Bloomberg said,
the SEC just added the appro shares etherm ETF to its website. That is
extremely quick. He says instinct initially says this won't launch on day one with
the other ETFs whenever that is, but who knows. This is interesting.
So we're seeing some movement here. Some people are anticipating the approval may come
within the next two to three months. It could be sooner. We'll see
what happens. But things are moving ahead, and I think the etherm ETF
approval will be very bullish for many all coins. It opens the door for
other all coins to get their ETFs as well. So exciting times ahead.
We just have to be patient. And speaking of ETF's Blackrock now holds three
hundred and four nine hundred and seventy six bitcoin worth over twenty one billion dollars
for their spot Bitcoin ETF. That is an insane number. And they just
did this months ago. Remember these the eastfs just got approved earlier this year.
It's incredible what's happening. They're buying. The inflows are starting to rise
again after the cool off when bitcoin hit around seventy four thousand, and this
is just I would say wave two, and then you still have Wave three,
and there's more waves to come, and you're gonna see a lot more
capital come into bitcoin. And it's not only in the United States. There
are ETFs being launched in London, Hong Kong, we saw Thailand as well.
So game three is playing out here. Nate Garachi, president of the
ETF Store, and my interview with him will be published tomorrow. He gave
some context as to how incredible these ETFs have been performing. He said,
four spot bitcoin ETFs are in the top fifty of all ETF inflows this year,
including two in the top five. So number two is the I Shares
BITCOININGTF that's black Rock, number five is Fidelity. Number thirty six was arc
As Kathy Wood. Number forty eight is bit Wise and he says there are
thirty five hundred plus ETFs, so puts these in top one point five percent
of all ETFs by inflows. Incredible performance, folks. Now, in addition
to the ETFs, we're seeing more companies are starting to add bitcoin to the
balance sheet as a reserve asset to protect the value of their cash reserves.
So DeFi Technologies adopts bitcoin treasury strategy. The publicly listed Canadian company announced the
purchase of one hundred and ten bitcoin and repayment of five million dollars in debt
by its subsidiary Valor. So huge news, incredible, what's happening. And
this is just not a US and Canadian thing, It's happening globally. So
Japanese public company Metaplanet purchases additional twenty three point three to five bitcoin worth one
point six million dollars. So bitcoin, I believe will become a treasury asset,
folks. So there's some bitcoin I'm never selling. I'm going to hand
it down to my daughter and I'm going to play the cycles for the majority
of my bags. And that is I've told you guys, I'll sell the
peak and take some of that profits and reinvest it in the bear markets and
grow the pool of money that way. Now you do your own research.
That's not financial advice. Now great place to buy your bitcoin, folks,
is on Uphold. You can buy bitcoin, xrpe Theorem, Salona, Cardano,
all the top all coins. They have two hundred and sixty plus cryptocurrencies.
They are available in over one hundred and fifty countries. They also have
precious metals you can buy, sell, trade goalsilver, palladium, and platinum.
Uphold is also fully reserved. You can go review their transparency reports.
They don't co mingle or lend out your funds. I've been using this platform
since twenty eighteen and I trust them, so I'm backing vouch for them of
course. So if you'd like to learn more about Uphold, check out the
link in the description. Folks, we got some very big news around Fireblocks
and Coinbase. So Fireblocks is a crypto custodian and Coinbase of course has their
own custody products. So Fireblocks partners with Coinbased International to extend security, governance
and policy support. Fireblocks is extending its multi party computation MPC protection to coinbas
international customers. Clients using the coin based International Exchange will be able to mitigate
operational risks by using the fireblocks network. So I love this the crypto industry
coming together, sharing their technology and setting up better security and guardrails to protect
the investors. We need these things for the ACID class to continue to grow.
We don't want another Excelsius, we don't want another Tara, Luna or
FTX. We don't want hacks, right, So the more security layers that
we can put into place, that's great for the continued adoption of the ACID
class. Now, guys, we continue to see governments around the world are
building CBDCs and even stable coins. We were just talking about jpm coin.
HSBC China rolls out the ec and y services for corporate clients. Folks.
The token economy is rolling out right before our eyes. Not only are we
going to see tokenization of real world assets such as real estate and art working,
all these things, but fiance currency, as you all know, will
be on the blockchain. So that's going to come into form of stable coins
and CBDCs. So the bank's China branch said that it is the first foreign
bank in China to offer the digital u Wan services to builth retail and corporate
customers. And let me tell you something, the rest of the world is
paying attention and eventually every major government is going to be using a CBDC.
And not only is is this just the adoption of technology, this is going
to play into politics and economics as well. Because the United States has the
world reserve currency with the dollar, China would love to steal that mantle,
right. They would love to inject their digital u want into different markets and
get adoption that way. And it will be very easy to inject a digital
current and into certain markets. So let's say China, like, for example,
they're going to certain African countries and doing infrastructure, setting up shop there,
and people have smartphones. Hey, download this wallet, we'll send you
the ecn Y and you know that could be a currency you use. It's
going to happen if the United States does not get its act together and figure
out what they want to do. I'm not saying for cbdc's but I'm just
thinking the facts. Right, we got to figure out the balance here of
global competition, economic competition, and of course finding the balance where our privacy
rights are protected. I can't talk about the digital you want, because I
don't live in China and I don't use it. But here in the United
States, we got to make sure the FED gets the digital dollar right or,
as per my interviews recently with Carmel Cadet of m Tech, saying that,
look, there's a digital dollar that's issued, but it can't be touched
by retail. What happens is that the stable coin issue is like Circle Ripple,
PayPal and so forth, they have to use the digital dollar as part
of their reserves. I think that's the more likely scenario given all the bills
that have come out from Congress with the anti CBDC privacy and all these things.
Right, we've seen tom Ember put out a good amount of things like
that, So folks, it blows me away that these things are happening and
a lot of people are not paying attention. Right, they're not paying attention
in what's coming. But hey, this is how it is. Early adopters
will have the opportunity to make significant returns while other people waste their time looking
at Netflix shows and TV. And I'm not saying you can't do those things,
But I'm saying people are opting to do that and spend their time on
social media versus researching and learning how to invest and learning about this technology and
how they can use it to make some wealth for themselves, to give themselves
financial freedom, but also what to expect and how to not fall victim to
any type of draconian law or technology. Once again, we've got to make
sure the United States keeps to the Constitution when it comes to the digital dollar.
All right, folks, that's the news. Don't forget to grab a
copy of my book, Rethinking Crypto and Amazon available in paper and digital.
Grab a copy to support the podcast. If you bought a copy already,
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your friends and family who want to learn about this technology. It covers Crypto's
past, president, and future, and it just gives the holistic view.
So thank you guys for watching and listening. I appreciate you all, and
I'll talk to you all later.