WEBVTT

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

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00:00:12.640 --> 00:00:15.599
and interviews. I'm your host,
Tony Edward. On your way in.

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Please hit that subscribe button as well
as the thumbsup button and leave a comment

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below. If you're listening on a
podcast platform such as Spotify or Apple,

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00:00:23.320 --> 00:00:27.239
please leave a five star rating and
review. Folks, we got breaking news.

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The SEC has dropped their investigation against
Ethereum. This is being reported by

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Consensus. They tweeted out Ethereum survives
the SEC. Today, we're happy to

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announce a major win for etherorem developers, technology providers, and industry participants.

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The Enforcement Division of the SEC has
notified us that it is closing its investigation

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into Ethereum two point zero. This
is massive news and we know the Ethereum

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spot ETFs are right around the corner. And this is not only big for

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ether theory, but it's big for
all coins. The SEC is capitulating.

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They are losing. Scumbag regulator Gary
Ginser takes another big l Not only did

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he lose in the Ripple case where
x orp was declared not a security,

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he also lost the Bitcoin ETF case
where Gray scales sued the SEC, and

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the SEC got called arbitrary and capricious
by the courts. Not only that,

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they just recently got sanctioned in the
debt Box case where they were forced to

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close their Salt Lake City office.
These are massive wins for the crypto industry

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and Gary Ginser is looking like a
fool. Just last week he was in

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front of the Senate folks asking for
more budget. Senator Haggerty asked them,

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is he theoremic commodity? He couldn't
even answer it. He was dancing around

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the question, and of course the
CFDC chairman Rostam Benham was sitting next to

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him. He got asked the question
is he theoremic commodity? And he said

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yes. So Gary Ginster is losing
the narrative. Him and Elizabeth Warner are

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losing. On top of that,
you got Democrats are turning on them both

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in the House and the Senate,
and you have Donald Trump who's coming out

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and saying I'm the pro crypto candidate. I'll protect your crypto, I'll will

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let I'll allow you to self custody
your crypto, and I'll help you get

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clarity. So Ganser's losing here and
it's amazing. It's a beautiful thing,

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and this is very bullish for the
market. They continue here saying this means

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that the SEC will not bring charges
alleging that sales of eth are securities transactions.

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The decision follows a letter we sent
on June seventh asking the SEC to

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confirm that the may Eth ETF approvals, which were premised on eth being a

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commodity, meant the agency would close
its Ethereum two point zero investigation. The

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closing of the ETHEROUM investigation is monumentous, but it's not a cure all for

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the many blockchain developers, technology providers, in industry participants who have suffered under

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the SEC's unlawful and aggressive crypto enforcement
regime. Now, funny enough, guys,

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just yesterday we heard that the SEC's
ahead of crypto was stepping down,

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right, We covered that news.
So the timing of these things are very

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interesting. And Gary is taking loss
after loss, and people are leaving the

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SEC because they don't want to be
part of some political agenda. The SEC's

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core mission is to protect investors,
but Genser, under the control of Elizabeth

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Warren, has made it political and
his agenda is to protect the incumbents to

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try to kill crypto's startups and projects
so that JP Morgan and their blockchain and

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their jpm coin can come in and
take over. That's the endgame. But

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they're going to lose. This eruptive
technology always wins. Look throughout the history

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of civilization, they said, Here
our fight continues. In our lawsuit,

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we also seek a declaration that offering
the user interface software meta mass swapson staking

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does not violate these securities laws.
It should not take a lawsuit to provide

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the much needed regulatory clarity to allow
an industry that serves as the backbone to

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countless new technologies and innovations to thrive. But here we are, so huge

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news for the theorem, huge news
for the all coin market, folks.

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This opens up the door for other
all coins, especially those that are proof

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of steak like Cardnano, like algorand
like Avalanche, like Solana. Right,

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the list goes on and on.
So huge, huge win here, folks,

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and a massive loss for Gary Ginzer. And remember the other factor too,

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is that the Democrats sided with the
Republicans to pass the FIT twenty one

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Crypto Regulation Bill, which actually helps
to bring clarity to the market and it

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takes away a lot of power from
the SEC. And we saw the hearing

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last week. The SEC is asking
for more budget, but what some of

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the members of the Senate and Congress
were saying is that, hey, we're

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going to cut your budget, especially
if you're going to use this capital for

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enforcement actions against the crypto industry.
So Gary is losing on all fronts,

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folks. It's a beatle. It's
a great day, folks. What I'm

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really excited about, too, is
if we are able to hear very soon

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in the SEC versus Ripple, if
there's some settlement, and I don't think

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the SEC is going to get two
billion dollars. I think maybe they get

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one hundred million, fifty million,
free hundred million, but that will be

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peanuts for Ripple, and then Ripple
can continue to move forward and operate.

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And they already have the clarity for
XRP and an etherorem has the clarity here,

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and this opens the door for the
rest of the crypto market. It's

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it's amazing, uh. And we're
winning, folks. We are on the

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winning side of history. And as
I've been saying, you know, first

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they ignore you, then they laugh
at you, then they fight you,

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which we've been in in the past
two to three years, and then you

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win. We're starting to transition from
the then they fight you phase to the

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then you win phase. It's a
beautiful thing. And here I want to

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share some thoughts on some folks.
Zach Ryans, who's a community lays on

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a chain link and chain link is
built on Etherorem said the politically driven approval

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of the spot ether ETF was monumental, not because of the ETF, but

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because the SEC was forced to admit
that eth is in fact a commodity and

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not a security. Glad to see
that has been officially validated. Genser just

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can't stop taking the ls now,
guys, this is of course bullish news,

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but with this clarity, you will
see a lot of inflows into the

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Etherrem's bottytfs and Arabel Tunis of Bloomberg
and also James Safer. They moved up

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their launch dates for the approvals to
July second. Now that isn't guarantee it's

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going to happen then, but it
can happen on or around. We saw

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they were pretty accurate with the bitcoins
potty TF so it's coming and we're seeing

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the issuers of the etherm' spotytfs are
updating their S one applications. So here

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Nakarachi of the ETF store said,
here comes the spot ether ETF S one

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amendments. This one is from bit
wise. Assume others will trickle in over

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the next few days. So the
secs engage with these folks. They're updating

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their s ones, which is the
final phase before these Etherorem spottytfs go live.

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And check this news out. Bit
Wise says Pantera Pantera Capital. That's

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Dan Morehead. I had him on
the podcast years ago. He was one

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of the first hedge funds investing in
crypto before all the other people came along.

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They are interested in buying up to
one hundred million dollars of shares of

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the Etherorem's BOTYTF from bitwise. Huge
for bit Wise, and you know they're

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not the size of black Rock,
but they're doing really well. I've had

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Matt Hogan, I've had him many
times on the podcast talking about ETFs and

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much more. This is huge news, so I'll try to get him on

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pretty soon. And we're seeing basket
ETFs are starting to pop up now.

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So James Seifert said a dual e
theorem and bitcoin spot ETF filing from hashtacks

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just dropped will be market cap weighted. Shouldn't be a surprise to anyone.

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Makes a lot of sense. So
we're gonna see these basket ETFs eventually.

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As we get let's say Solana XRP
Cardano ETFs, you're gonna see the top

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ten or the top five in these
baskets. Right, it's coming. Bit

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Wise is actually doing this outside of
ETFs. They have an index one.

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So these things are coming, folks. It's like I've been saying for a

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long time. Starts a bitcoin,
then it will go to a theorem,

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and then the other all coins.
It's not a matter of if, it's

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a matter of when, and we
just have to be patient. So huge

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news here. And as I mentioned
earlier, Donald Trump continues to put out

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there that he's the pro crypto candidate. And today he was in Wisconsin doing

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his campaign promotion and all that,
and here's a quote again, he said,

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to further secure America's future and create
opportunity for young people, I will

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end Joe Biden's war on crypto.
The Biden administration is feeling the pressure.

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That's why they're doing this Crypto roundtable
coming up with Mark Cuban and Democrat ro

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Kanna. The pressure is on.
So whether you hate Trump or you love

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Trump, forget about the man himself
and the name, because I know that

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triggers people. The fact that you
have a presidential candidate saying these things is

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huge, folks. Don't miss it. Don't be blinded by Look, I

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don't agree with Donald Trump on everything, and I'm not the biggest Donald Trump

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fan. I'm more of a moderate
and I vote for who's the best candidate,

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regardless of if they're a Democrat or
Republican. But I got to respect

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what he's saying as it relates to
this issue. He says, we will

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ensure that the future of crypto and
the future of bitcoin will be made in

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America, Otherwise other countries are going
to have it. Wow. I mean,

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these are incredibly bullish statements, folks, And once again, don't be

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blinded by, Hey, I hate
Trump. Put aside that for a second.

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This is a presidential candidate saying it, a former president saying it,

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and I think it will eventually make
Biden capitulate if he saw my interview with

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Cody Carbone of the Digital Chamber this
morning we talked about with the presidential debates

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coming up, crypto is gonna come
up and you're going to see a lot

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of people start talking about it,
so be sure to check out that interview.

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v chain dot org. Link will
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00:10:58.320 --> 00:11:01.759
if you've got some very interesting new
is being reported here by Eleanor Tarrata Fox

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Business. Apparently an organization called Consumers
Research, which is their slogan, is

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organized to serve consumers. Established in
nineteen twenty nine, they at launched an

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ad campaign targeting Tether and calling it
the next FTX. They're saying it Tether

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has ties to terrorist trafficking. They
were founded by former Disney child starts that

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they're talking about Brock Peers, who
I've interviewed, and Brock is not even

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no longer with Tether. But this
seems like a major fud campaign. I

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don't know who's doing it now.
There are some questions about Tether. I

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want to be fair. Over the
years that there's been a lot of questions

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about their reserves and what are they
doing, and so on and so forth.

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Now we know stable coin regulations are
coming in the EU as well as

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the United States, so let's see
what happens here. I think Tether back

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in the day, as I've said
many times, was not in a good

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place. I think they are now. They've been doing attestations. We saw

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Cancer Fitzgerald's CEO. That's a Wall
Street firm who custodies a lot of Teather's

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fund said they have the money.
He said this at Davos earlier this year.

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So we're seeing that Tether has positioned
themselves in a better place now.

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I interviewed the CEO a couple of
months ago as well. However, I

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don't have all the details, so
I don't think there is necessarily this massive

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conspiracy and all these things. Right, people go nuts sometimes with the fud

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I do think though, Tether needs
to come into compliance with regulations, and

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we'll see they probably get fined.
I think a fine is in order.

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I think they're gonna have to comply
with kyc AML laws. It's kind of

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like what happened with Finance and so
forth right. It's the cleanup of the

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market. I've been telling you guys, the cleanup is happening. It can't

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be the wild wild West anymore.
At one point it was, and that's

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fine. You know, every market
goes through that. But now everything is

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coming into comply I don't think Teather
is getting shut down like the fudsters would

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say. I think Teather will get
fined and Tether is going to have to

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align with the government regulations across the
globe. So I like to keep things

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balanced. But this is an interesting
ad campaign. And folks, they even

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did a Time Square digital billboard to
have the domain tether too corruption dot com.

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Now the thing is, I get
you're trying to amplify the news here,

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but seventy five percent or maybe eighty
percent of the people walking around times

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Square don't have the slightest clue what
the hell teather is. So I don't

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think this is necessarily a good campaign
here. You know, maybe they said

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crypto corruption or something like that.
Right, people will say, oh,

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crypto, I know, but crypto, but they say tether. But it's

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like who No one knows what tether
is, right, The average Joe and

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Jane don't know that. You and
I know that because we're in crypto.

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We're early adopters. But it's interesting, and I don't know who's behind this

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because look, I understand people are
trying to short the market. They may

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put this out here to drive fear. There's also competitors. I don't know

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if competitors are doing this. They
could be or they could not be,

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right, and competitors could be PayPal, Ripple, which is about to launch

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a stable coin soon. And you
have circles USDC and there's other stable coins

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out there, so we'll have to
wait to get more details. I'm actually

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going to try to get the folks
at a consumer first on the pod to

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talk about this, like where did
this come from, who's funding it?

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And much more, who's funding it? It's certainly important. Now speaking of

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FUD, you know, there's been
a big pullback in the crypto market.

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I see people are panicking, and
it's good. I've been calling for some

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fear on Twitter. I've been sharing
the bitcoin fear and greed indexing people have

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been so greedy. We need to
feel a bit of fear before we bounce

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upwards. We are still in a
bull market. We are still in an

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uptrem As I've been stating recently on
the podcast. If bitcoin breaks sixty,

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that's when I'm going to start to
worry a bit, because it's going to

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be like, Okay, something is
very different, But until it invalidates itself,

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I'm not going to panic. I'm
going to look at the charts and

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take a look at the signals and
pay attention closely to see what the next

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move is. But the higher probability
here is we are still in a bull

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market, still in an uptrend.
There is a probability okay, it's done,

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it's at the end, but that's
a very low probability in my opinion.

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We get some different analysts who gave
some updates here here. One of

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them said, anyone who tells you
this is a bearish price action should be

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unfollowed immediately. To be honest,
we are currently flipping the previous all time

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higher resistance slash wis into support as
volume declines. Remain patient. Step six

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on my list will begin much sooner
than most think. So step six is

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the actual having supply and demand kick
in another leg up eighty ninety one hundred

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K. So I'm in agreement with
that based on my own analysis, not

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because I'm a super Bowl or you
know, I want to make money.

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I'm just looking at the charts because
I don't want to be an idiot and

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be faked out, right, I
don't want to lose money. So I'm

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doing my own analysis and seeing the
same signals here. Julian Biddle of Global

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Macro Investor that's Ralph Palace Firm said, what we're currently witnessing and in terms

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of Bitcoin price action, is fairly
typical around the actual having a big pump

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leading into the having followed by a
brief but sharp correction, a period of

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sideways chop, a final dumb to
nuke any remaining bullish sentiment, another phase

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of boring, sideways trading, and
eventually price is beginning to rise again.

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Basically, it's the boring zone before
the banana zone. As Ralph pal has

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been saying, Julian says, patients
friends, so as I've been saying,

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guys, be patient. This thing
is still an up trend. It hasn't

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been invalidated yet. And you can't
go by sentiment. I see people will

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say, oh, it's over,
blah blah, and I'm like, well,

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what are you basing that on?
Give me some data, give me

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some facts, give me some technical
analysis, give me some charting. They

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don't they just go by sentiment because
I don't know they think that's They go

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with herd mentality sometimes. So anyway, guys, that's the news, big

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news. Like I said about Ethereum, huge huge, huge, massive win

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for the crypto industry and a big
fat loss for Gary Genser. And folks,

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don't forget to grab a copy of
my book Rethinking Crypto. Grab a

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00:17:26.759 --> 00:17:30.279
copy and paperback or Digital, get
a couple of copies for your friends and

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00:17:30.359 --> 00:17:34.039
family. If you bought a copy
already, please leave a rating and review.

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00:17:34.119 --> 00:17:37.039
It would really help me out and
support the podcast. Thank you for

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watching and listening, and I'll talk
to you all later