Hey, everybody, welcome into the Thinking Crypto podcast. You're home for cryptocurrency
news and interviews. On your way in, please hit that subscribe button as
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on a podcast platform such as Spotify or Apple or wherever you get your podcasts,
please hit that five star rating and review. Folks. Gary Ginster is
feeling the pressure. Not only is he losing in the courts and getting sanctioned
and much more and Democrats turning on him, but Congress is looking to cut
his budget. Remember we've been talking about this for a while. I've had
interviews with Congressman Tom Emmer and a bunch of folks who are part of the
House Financial Services GOP. And one of the things that I remember Bill Heizinger,
Congressman Bill Heizinger had said is that they control the purse strings and if
Gary Ginster does not act accordingly, they will cut his budget. Well,
there's a proposal to do this. Let me give it details here from Eleanor
Tarrata Fox Business. She says, look what has found its way into the
House Appropriation's GOP budget bill that is set to be marked up at a hearing
tomorrow at eight thirty am Eastern. One of the provisions, or policy writers
of the bill prohibits the SEC from using appropriated funds to implement SAB one two
one, as well as its controversial climate disclosure role. It also provides the
SEC with just two billion dollars in overall funding in fiscal year twenty twenty five,
compared to the two point five to nine billion dollars requested by Gary Genser
earlier this year. It also cuts back funding of the SEC's Aggressive Enforcement Division
by one hundred and sixty eight million dollars. That's great news, folks,
because we've seen the SEC run amuck and breaking the law and much more.
We're actually going to talk about some debt box news after this, she says.
I'm told the bill will likely pass on party lines tomorrow and then will
have to be negotiated with any appropriation bill the Senate passes. But positive news
for the SAB one to one policy writer is that many Senate Democrats also voted
to overturn SAB one to one, including Senator Chuck Schumer, so it's likely
that the provision will be kept in when the final bill ultimately finally gets voted
on. So great news. They're going to cut the SEC's budget and specifically
pull back on the Enforcement Division's budget so that they can't do all the madness
they've been doing against crypto. Obviously, they need to fund operations because there
are bad actors out there they need to go after. But this is a
great way to put Gary Ginster in check, and they're going to go after
a sab one to one with these budget updates. Now, with this in
mind, here's the news that broke today. The SEC's Salt Lake City office,
notorious in the crypto world for its failed fraud lawsuit against Debt Box,
will shut down after seeing significant attrition among its staff, some of whom were
pushed out over the case. So a lot of people jumping ship here,
right. They don't want to be associated with this. Why would you want
you to do it? It's career suicide. Gary Ginster is probably the only
one that's safe among the SEC because he's probably been promised the Treasury job.
We've heard reports about this, So he's kissing ass as much as possible.
He's doing everything that Elizabeth Warren tells him because she's the one pulling the strings
and he doesn't care. He's breaking the law, he's getting sanctioned, he's
getting called arbitrary and capricious lying to the courts, and much more. But
he doesn't care because at the end of the day, Elizabeth Warren has probably
promised them the Treasury job. Now, folks, tomorrow I'll be interviewing the
founder of debt Box. So I'm going to get you the details as to
what the hell happened here and behind the scenes and the outcome and much more,
and what it was like dealing with the SEC. We're going to bring
all these things to like to hold scumbag regulator Gary Ginser accountable. Now,
in addition to that hearing I told you guys about with the House Appropriations GOP,
there's also the Financial Services Committee Subcommittee on Digital Assets, how tokenization of
real world assets will facilitate efficient markets. They're going to talk about tokenization,
folks. Crypto is so big they can't ignore it anymore. They're having congressional
hearings about it multiple ones. There's crypto regulations bills that are making it through
the House and entering the Senate. Presidential candidates like Donald Trump is coming out,
you know, supporting crypto, saying I'm the pro crypto candidate, and
it doesn't matter if you hate Donald Trump or I love him. That's not
the point. The point is crypto has hit its tipping point going mainstream.
I've been saying it's become ubiquitous. It is appearing everywhere Wall Street, tradify,
politics, pop culture, society. There are movies and TV shows now
that include crypto as a topic and fits within the storyline, and much more.
I'm sure you guys have seen it, right. We've been covering like
The Simpsons talking about crypto in multiple episodes. There's TV shows and movies and
so forth. So pretty incredible what's happening. And these are signs of a
maturing, growing asset class. And I'm glad I'm here early. So I'm
taking my positions because I'm here to make money, folks, and I'm looking
to make the biggest return as possible to give myself financial freedom. Now,
don't get me wrong, I'm here for the money, but I'm staying for
the technology as well. Right, Come for the money, stay for the
technology. So I am passionate about the technology. It is the future.
It's the next layer on top of the Internet. And it's going to change
the way we transact and trust each other and so forth. The economy is
going to be run on blockchain because everything will be tokenized on it. We're
seeing governments are building CBDCs and stable coins and real world assets like cars,
real estate, artwork and whatever else. We'll all be on the blockchain.
So great stuff ahead. Now, quick word from our sponsor, and that
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com. Now, folks, we're starting to see the bitcoin ETF inflows surge
again. And I've been talking about this. It's going to come in waves,
and I've interviewed folks from Bloomberg like Eric Balchina's James Seifert and so forth,
and it comes in waves, right, You're gonna see run ups and
then a cool down and another run up, kind of like how the market
moves. And we're getting news here that Fidelity had plus three hundred and seventy
nine point three million dollars of inflows today. Eric Balcunas of Bloomberg said,
Fidelity not messing around big time flows all around today for the ten nearly one
billion in total. So you're talking about all ten ETFs, second best day
ever since mid March three point three billion dollars in the past four weeks,
nets a year to date at fifteen billion dollars, which was the top end
of our twelve month estimate. The third wave is turning into a title wave,
folks. It's going to eventually become a tsunami. Because we also got
news that Thailand they launch their bigcoin ETFs today as well. Notice a trend
here, right, United States move, then Hong Kong, then London,
now Thailand. It's happening globally. Game theory playing out right before our eyes.
I hope you guys are seeing what is taking place here. We've crossed
the chasm. There's no more stigma, there's no more this is a fad,
this is a ponzi, this is a fake magic Internet money, right,
and there's none of that. These people recognize this technology and the acid
class. But it's what we've talked about for a long time. First they
ignore you, then they laugh at you, then they fight you. Right,
We've been in the fight phase for the past couple of years. Then
you win. We're transitioning from the then you fight you phase to the then
you win phase. So incredible stuff here, folks, and even Grayscales GBTC
is seeing some inflows again. They had over twenty eight point two million dollars
inflows today. Incredible stuff. And Bitcoin folks on the charts is looking poise
for another move up right now at the time of recording, it's near seventy
one thousand and Kevin Spencon I've been sharing his parabolic curve pattern analysis and it
is following the textbook chart perfectly to a t. I gotta give this man
a lot of credit here, and he's setting his target at a ninety thousand
for the next move up. Don't get me wrong. It's gonna pump,
pull back, pump, pull back until it hits that. Now we could
go higher. I'm thinking it's somewhere between eighty to ninety, but it could
go to ninety five to one hundred. Who knows, right, But have
your sell targets if you hold bitcoin, I'm prosingly gonna start taking profits ninety
K plus dollar costs averaging out the same way I dollar cost average in.
Now you may say, Tony, why aren't you waiting for two hundred thousand
dollars? Well, I don't know if that's going to happen, right,
that's not a guarantee on the charts. Using the Fibonacci model, it's possible,
but it's not guaranteed. So I've learned my lesson, folks. I'm
not cashing out all at ninety to one hundred. I'm cashing out some,
and then it goes higher than one hundred k. I take some at one
ten and one twenty, and you know, we'll see how the charts and
what's happening with the macro and much more, and we'll get some signals as
to where this top may be. Now, the top may come until next
year, but we'll have to wait and see what's happening here. Nevertheless,
I will be taking some profits, and obviously I hold bitcoin in all coins,
so we're going to see what the alts do. After Bitcoin does it's
run up, the liquidity will flow from Bitcoin down to the alts and folks.
We're seeing meme coins continue to go crazy. In fact crack and exchange.
This is wild. What a time we live in the meme coins bode
in and trimp. Boden is supposed to be Biden and Trump is supposed to
be Trump. These meme coins that were created have been both listed on crack
and Exchange. Oh my gosh. And then the meme they shared today with
the two of them kind of debating is hilarious. I don't even know what
to make of it. Is funny, but it's also like super risky to
invest in these things, so I'm not endorsing it. I'm just sharing you
with you, guys, what's happening. I think you all know my stance
on meme coins and that it is the riskiest segment of the market. I'm
not hating if you're making money on it, you know what you're doing.
Then God bless, I'm not here to tell you not to do it.
I'm saying it's not for me. I'm not touching any meme coins. Don't
get me wrong. I have a little bit of doge coin, but it's
more of a collectible thing. I'm not. I don't have like a massive
bag of doge coin. I'm not betting on meme coins, but I do
understand the liquidity is going to them right now, and I am looking for
that liquidity to flow to other all coins like Carnano and XRP and h bar
and so forth, so many other coins that I hold. So nevertheless,
fascinating stuff here. And folks, I've got some big interviews coming up for
you guys. Next week. I'll be interviewing Charles Hoskinson, founder of Cardano,
So if you have questions, please send them men email, leave them
in the comments section, or hit me up on Twitter. I will also
be interviewing this week Hugo Fillyon, who is the co founder of Flair and
the CEO of Flair Labs. So you don't want to miss these interviews.
And like I said, I'm interviewing the folks at debt Box tomorrow, so
I got some big interviews coming up with you guys. In fact, I'll
also be interviewing Nate Garachi, president of the ETF Store, this week,
so we're going to talk all things ETF. And I think the timing is
perfect because we're seeing the inflow is going nuts again. But guys, I'm
working hard to bring you guys great content and interviews. If you can,
please support the podcast by buying a copy of my book on Amazon and leaving
a review. If you bought the book already, you know, leave a
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all these books and become a multi millionaire. My crypto investment is my target
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I'll talk to you all later