WEBVTT

1
00:00:07.599 --> 00:00:12.119
Hey, everybody, Welcome into the
Thinking Crypto Podcasts. You're home for cryptocurrency

2
00:00:12.160 --> 00:00:15.880
news and interviews. On your way
in, please sit that subscribe button as

3
00:00:15.919 --> 00:00:19.000
well as the thumbs up button and
leave a comment below. If you're listening

4
00:00:19.039 --> 00:00:23.000
on a podcast platform such as Spotify
or Apple, please leave a five star

5
00:00:23.120 --> 00:00:26.839
rating and review. Folks, We've
got some big news and that is four

6
00:00:26.920 --> 00:00:32.799
hundred and thirty eight billion dollar asset
manager Susquehanna buys one point three billion dollar

7
00:00:32.920 --> 00:00:37.280
in bitcoin et apps. Folks.
The institutions are buying these et apps,

8
00:00:37.280 --> 00:00:40.359
and of course it makes it very
easy for them to do it. It's

9
00:00:40.399 --> 00:00:44.200
coming through trusted brands and names that
they know, such as black Rock,

10
00:00:44.240 --> 00:00:49.039
Fidelity and so forth. And as
the filings with the sec are being revealed

11
00:00:49.280 --> 00:00:53.439
in the coming weeks and months,
you're going to see who those buyers were

12
00:00:53.759 --> 00:00:57.119
of the big, massive run up
that we had at the beginning of the

13
00:00:57.200 --> 00:01:00.560
year into March where bitcoin hit new
all time So that's going to be very

14
00:01:00.600 --> 00:01:06.120
revealing and also very bullish. Right. We've often talked about game theory and

15
00:01:06.159 --> 00:01:08.159
that if you know one firm sees
the other firm is buying a bunch of

16
00:01:08.200 --> 00:01:11.920
bitcoin ets they're going to hop off
the fence and start buying as well.

17
00:01:12.079 --> 00:01:17.079
So let me give you some details
here. In the latest big name transaction

18
00:01:17.200 --> 00:01:22.280
around bitcoin, four hundred and thirty
eight billion dollar asset manager Susquehanna has revealed

19
00:01:22.319 --> 00:01:26.560
it purchased one point three billion dollars
worth of spot Bigcoin ETFs. Today,

20
00:01:26.680 --> 00:01:33.719
Susquehanna disclosed its bitcoin etr portfolio in
a thirteen f SEC filing spread across multiple

21
00:01:33.760 --> 00:01:38.400
ETFs. So this is fascinating.
They bought the whole gambit. They bought

22
00:01:38.439 --> 00:01:42.280
a little bit of everything, for
example, Grayscale, Fidelity, black Rock,

23
00:01:42.439 --> 00:01:46.079
Arc, Bitwise, Valkyrie, in
Vesco, van k and Wisdom Tree.

24
00:01:46.359 --> 00:01:49.120
Interesting strategy and I get it.
They don't want to put all their

25
00:01:49.120 --> 00:01:53.239
eggs in one basket. And of
course it's probably based on maybe what their

26
00:01:53.280 --> 00:01:57.799
clients want. You know, if
some clients prefer Fidelity or Vanak or whatever

27
00:01:57.799 --> 00:02:00.599
it may be, they're probably going
that way out locating accordingly. But folks,

28
00:02:01.120 --> 00:02:06.599
it's incredible what we're seeing. And
remember the trading houses are not here

29
00:02:06.840 --> 00:02:10.159
Morgan, Stanley, Ubs and so
forth. James Seifert of Bloomberg and I

30
00:02:10.240 --> 00:02:14.639
spoke about this in our interview which
I published five days ago, so be

31
00:02:14.719 --> 00:02:17.080
sure to check out that interview.
The herd for the Bitcoin ETF buying and

32
00:02:17.080 --> 00:02:21.560
trading is not here yet. Yes, I know that seems hard to believe,

33
00:02:21.919 --> 00:02:24.319
but they're not here yet. They're
in the process of getting themselves set

34
00:02:24.439 --> 00:02:27.439
up, and you know it takes
time, right, they have to go

35
00:02:27.479 --> 00:02:30.560
through compliance and all the checks and
all the red tape and so forth.

36
00:02:30.759 --> 00:02:34.759
They'll get there, guys, it's
coming. And remember that there's also the

37
00:02:34.960 --> 00:02:38.639
educational and awareness campaign that is taking
place with the issuers going out to wealth

38
00:02:38.719 --> 00:02:44.039
managers and rias. So the diverse
set of investments in bitcoin ETFs is an

39
00:02:44.080 --> 00:02:47.800
interesting note. However, it only
grows optimism in the world's leading cryptocurrency.

40
00:02:47.840 --> 00:02:53.479
Nonetheless, Susquehanna International is one of
the largest proprietary trading firms in the world.

41
00:02:53.759 --> 00:02:59.039
The firm works in trading essentially all
listed financial products and acid classes with

42
00:02:59.159 --> 00:03:04.039
a focus on derivatives, and handles
millions of transactions on exchanges around the world

43
00:03:04.159 --> 00:03:07.639
every day. And of course they're
getting involved in crypto. And this is

44
00:03:07.680 --> 00:03:12.159
just the tippity iceberg. There's more
to come. Very bullish news here now,

45
00:03:12.199 --> 00:03:16.159
guys. Scumbag regulator Gary Gens went
on squawk Box today to talk about

46
00:03:16.159 --> 00:03:20.319
his same old bullshit talking points.
I'm not even going to play the full

47
00:03:20.319 --> 00:03:23.599
clip for you, but I'm going
to highlight some of the takeaways because I

48
00:03:23.599 --> 00:03:27.199
don't even want to hear this guy's
voice. He's annoying. He's a clown,

49
00:03:27.520 --> 00:03:30.840
like I said, as scumbag regulator, he's been breaking the law.

50
00:03:30.120 --> 00:03:35.960
And I think the timing of the
Robin hood Wells Notice news is because Congress

51
00:03:36.039 --> 00:03:40.039
is about to repeal the SAB one
two one rule, which the US Government

52
00:03:40.080 --> 00:03:46.000
Accountability Office found unlawful and it was
provided by the who else, the SEC.

53
00:03:46.400 --> 00:03:47.960
I'll play the clip of what Tom
Emmer had to say about that.

54
00:03:49.319 --> 00:03:53.840
But he was interviewed by Andrew Ross
Sorkin, and he was of course asked

55
00:03:53.840 --> 00:03:55.400
about if he themist and security or
not, and all the things that have

56
00:03:55.439 --> 00:04:00.039
been going on now. Andrew didn't
really grill him on all the court failures

57
00:04:00.120 --> 00:04:03.680
and being sanctioned and so forth,
but I wish he did. But you

58
00:04:03.680 --> 00:04:08.159
know, usually probably Gary would have
walked out right because he's not. He

59
00:04:08.159 --> 00:04:11.120
doesn't want to talk about that.
He wants to paint the narrative that he

60
00:04:11.199 --> 00:04:15.120
wants to so. Paul Griwall,
chief legal officer at Coinbase, highlighted the

61
00:04:15.160 --> 00:04:20.120
following of what Gary had to say. I quote, many of these tokens

62
00:04:20.160 --> 00:04:25.439
are securities under the law of the
land as interpreted by the US Supreme Court,

63
00:04:25.519 --> 00:04:29.839
so we followed that law. Paul
said, please stop misleading the market.

64
00:04:29.920 --> 00:04:34.639
Tokens are not securities, They're pleadings. Notwithstanding your own attorneys have admitted

65
00:04:34.680 --> 00:04:40.360
this in the court. So of
course the SEC attorneys have said this against

66
00:04:40.360 --> 00:04:44.199
her, and the SEC are even
divided among themselves. You know, Hester

67
00:04:44.600 --> 00:04:48.160
Purse and Marqui Wada have you know, called out the SEC and their unlawful

68
00:04:48.199 --> 00:04:54.160
activities and the way they've been treating
the market and the industry. Not to

69
00:04:54.240 --> 00:04:59.879
mention their lawyers when put before the
judge to answer factual questions, they have

70
00:05:00.079 --> 00:05:01.439
to say, well, yeah,
these are not securities, right and then,

71
00:05:01.680 --> 00:05:05.439
but they try to present it as
though it is. So Gary's line

72
00:05:05.560 --> 00:05:11.439
out his teeth here. He's a
big time scumbag regulator controlled by Elizabeth Warren,

73
00:05:11.839 --> 00:05:15.120
and both of them are controlled by
the banking and cumbents who are trying

74
00:05:15.120 --> 00:05:18.680
to slow this down. Guys,
it's pathetic. Our tax dollars are being

75
00:05:18.759 --> 00:05:21.199
used for this type of nonsense.
But this is why we got to fight.

76
00:05:21.240 --> 00:05:25.319
This is why we got to hold
them accountable, tweet out the truth,

77
00:05:25.519 --> 00:05:30.079
the facts, call up your representatives, and will continue to protest on

78
00:05:30.120 --> 00:05:33.480
social media and in different ways.
It is making an impact because we're seeing

79
00:05:33.839 --> 00:05:38.639
a lot of crypto companies are starting
to rally together, sue the SEC,

80
00:05:38.959 --> 00:05:43.959
fight back, punching back at the
bully, and they're lobbying politicians and we're

81
00:05:44.000 --> 00:05:48.439
seeing it the impact of pro crypto
candidates winning in the election. So big

82
00:05:48.480 --> 00:05:51.360
things are coming. We got to
keep fighting. Don't get me wrong,

83
00:05:51.399 --> 00:05:55.920
we are in for a fight.
Obviously, the SEC issued at Wells notice

84
00:05:55.920 --> 00:05:59.920
against Robin Hood, but this is
just Gary's silly attempt at trying to make

85
00:06:00.079 --> 00:06:03.000
things stick. Here's what William Mugay
are if I'm saying that right. He's

86
00:06:03.040 --> 00:06:10.040
an author of the business blockchain and
token Summoned Producers said Gary Ginsterer told Squawkbox

87
00:06:10.079 --> 00:06:14.519
and Andrew Ross Sorkin he would rather
not talk about crypto, saying it's a

88
00:06:14.560 --> 00:06:18.439
small part of the overall capital markets
and doesn't deserve the attention it's getting against.

89
00:06:18.480 --> 00:06:24.360
They're asked where are the financial reports
for these crypto tokens. Here's what

90
00:06:24.399 --> 00:06:28.199
William said. He doesn't understand crypto
clearly, and he's going after the wrong

91
00:06:28.279 --> 00:06:31.199
bad guys. He continues being the
villain of crypto, not the right cup.

92
00:06:31.519 --> 00:06:34.600
So I think a lot of people, even in the mainstream are recognizing

93
00:06:34.600 --> 00:06:41.399
this, like you're treating this industry
unfairly. You have the most enforcement actions

94
00:06:41.439 --> 00:06:44.079
coming against the crypto industry, yet
you're saying it's a small part of the

95
00:06:44.160 --> 00:06:48.040
capital markets. Why does it deserve
so much attention. It's because you're a

96
00:06:48.079 --> 00:06:53.759
clown on puppets strings blocking the industry, and when you lose in court,

97
00:06:54.120 --> 00:06:59.000
it's a big deal. You're getting
called arbitrary and capricious. You're getting sanctioned

98
00:06:59.040 --> 00:07:02.240
by the judges in different cases.
So this guy, he's trying to downplay

99
00:07:02.240 --> 00:07:05.439
it, but we're not gonna downplay
it. We're going to amplify the facts

100
00:07:05.680 --> 00:07:11.680
here. Cody Carbone of the Chamber
of Digital Commerce says, regarding this video,

101
00:07:11.959 --> 00:07:15.360
how are we feeling us tax payers? Crypto is too small for gangster

102
00:07:15.480 --> 00:07:18.839
to discuss publicly, but large enough
that the SEC has allocated a huge chunk

103
00:07:19.120 --> 00:07:25.439
of its enforcement resources. Feel protected
investors, he asked, and we got.

104
00:07:25.600 --> 00:07:30.639
Tom Emmer spoke out about the Robinhood
Wells notice, saying these Wells notices

105
00:07:30.759 --> 00:07:35.279
seem to be Gary Ginster's desperate,
last ditch attempts to intimidate and antagonize digital

106
00:07:35.319 --> 00:07:41.639
asset innovators. Now there was a
clip of him talking about the House looking

107
00:07:41.680 --> 00:07:46.600
to repeal SAB one two one,
which is that custody rule which prevents many

108
00:07:46.759 --> 00:07:50.839
of the banks from custodying bitcoin and
cryptocurrencies. And let me play the clip

109
00:07:50.879 --> 00:07:55.879
for you so you can hear directly
from Tom Emmer. Chairman Gary Gensler's tenure

110
00:07:56.240 --> 00:08:03.040
at the SEC has been characterized by
regulatory hypocrisy, inconsistency, and incompetence.

111
00:08:03.759 --> 00:08:09.240
The Securities in Exchange Commissions Staff Accounting
Bulletin one twenty one, commonly known as

112
00:08:09.439 --> 00:08:15.600
SAB. SAB one twenty one,
is just one example of Chairgenstler's egregious attempts

113
00:08:15.959 --> 00:08:22.040
to expand the SEC's authority and his
clear bias toward the digital asset ecosystem.

114
00:08:22.399 --> 00:08:28.319
More than two years ago, the
SEC disguised this illegal rule as guidance,

115
00:08:28.800 --> 00:08:35.080
circumventing Congress and public input so they
could prevent banks from safeguarding consumer owned digital

116
00:08:35.159 --> 00:08:41.600
assets. However, this rule isn't
just overreaching and illegal, it violates the

117
00:08:41.679 --> 00:08:50.679
SEC's statutory mission. First, SAB
one introduces more unnecessary and avoidable concentration risk

118
00:08:50.080 --> 00:08:56.720
into the digital asset ecosystem, making
our markets less fair, less orderly,

119
00:08:56.879 --> 00:09:01.559
and less efficient. Second, it
weakens investment protections by barring Americans from using

120
00:09:01.639 --> 00:09:09.759
the established banking infrastructure to custody their
digital assets, which leaves Americans assets more

121
00:09:09.840 --> 00:09:16.480
vulnerable if a custodian becomes insolvent.
And Third, this rule hampers capital formation

122
00:09:16.639 --> 00:09:22.480
and global competitiveness, as foreign banks
already have the ability to compete in crypto

123
00:09:22.559 --> 00:09:28.519
markets while our banks cannot. The
sec statutory mission is to protect investors,

124
00:09:28.919 --> 00:09:35.360
facilitate capital formation, and maintain fair, orderly, and efficient markets. Chairman

125
00:09:35.399 --> 00:09:41.039
Gensler is violating all three of this, all three of these with his illegal

126
00:09:41.240 --> 00:09:45.320
SOB one twenty one rule. Later
this week, House Republicans, we're going

127
00:09:45.360 --> 00:09:50.559
to do our job to provide oversight
and accountability to the SEC by passing Congressman

128
00:09:50.639 --> 00:09:56.639
Mike Flood's resolution so that this illegal
and harmful rule ceases to be in effect.

129
00:09:58.039 --> 00:10:00.120
I hope that our colleagues on the
other side of the eye. Well,

130
00:10:00.399 --> 00:10:03.759
well, join us as we work
to ensure the digital asset ecosystem can

131
00:10:03.840 --> 00:10:07.159
thrive right here in the United States. And I turn it over to our

132
00:10:07.240 --> 00:10:11.679
leader, Steve Scalees. So there
you have it. And this is important

133
00:10:11.679 --> 00:10:15.879
because they are in the process of
voting. It made it through the first

134
00:10:15.960 --> 00:10:18.000
round. It has to go to
the Ford for the full repeal, but

135
00:10:18.080 --> 00:10:22.440
that will be a big deal.
That's another big loss with the SEC because

136
00:10:22.519 --> 00:10:26.759
it got called unlawful by the US
Government Accountability Office, So this would be

137
00:10:26.759 --> 00:10:31.159
a big win. It's another item
on the list that Gary Genser has lost

138
00:10:31.200 --> 00:10:35.240
out on. Now, the other
big issue with the SEC is that they

139
00:10:35.320 --> 00:10:39.399
still have the Ripple lawsuit, which
has not been resolved. And of course

140
00:10:39.480 --> 00:10:45.080
Ripple took the lion's share of the
victory by getting the ruling that XRP intrinsically

141
00:10:45.200 --> 00:10:48.639
is not a security and secondary market
sales of the asset are not securities.

142
00:10:50.080 --> 00:10:54.799
Now, we got some news here
that the SEC has filed its Redactive Remedies

143
00:10:54.840 --> 00:10:58.000
reply brief and supporting exhibits. So
what does this mean. Well, Attorney

144
00:10:58.039 --> 00:11:03.279
Jeremy Hogan weighed in and said the
Ripple versus SEC briefs are finished, and

145
00:11:03.320 --> 00:11:07.919
I think the SEC went out with
a whimper here. It didn't even try

146
00:11:07.919 --> 00:11:13.159
to attack ODL sales, which is
on demand liquidity, just noting that Ripple

147
00:11:13.480 --> 00:11:16.759
was trying to relitigate the issue,
which it is, and it brought nothing

148
00:11:16.879 --> 00:11:20.720
new on damages, just waiting for
the judge now. So I've been on

149
00:11:20.799 --> 00:11:24.200
record saying that I believe Ripple will
have to pay a small fine here,

150
00:11:24.200 --> 00:11:26.960
but the SEC is not going to
get what it wants, like two billion

151
00:11:28.039 --> 00:11:31.440
dollars, right, and it's going
to be a small victory. But Ripple

152
00:11:31.559 --> 00:11:35.320
came away with the lion's share obviously
that the asset is not a security and

153
00:11:35.399 --> 00:11:39.159
secondary market sales are not securities,
which is great for the entire industry,

154
00:11:39.240 --> 00:11:43.159
not just Ripple and x ORP,
and many of these different token projects and

155
00:11:43.200 --> 00:11:48.679
exchanges can use the ruling as case
law. And many crypto lawyers in the

156
00:11:48.679 --> 00:11:52.399
industry are speaking out there. They're
saying things like the SEC is abusing the

157
00:11:52.440 --> 00:11:58.240
Wells process as part of a carpet
bombing campaign against crypto. You can say

158
00:11:58.240 --> 00:12:01.440
that again, right, this is
what it's about. Guys. He's throwing

159
00:12:01.480 --> 00:12:05.200
as much as he can against the
wall. But he's going to lose,

160
00:12:05.360 --> 00:12:09.240
ultimately lose. We are in the
then they fight you phase and the elections

161
00:12:09.279 --> 00:12:13.240
coming up. Gary's not going to
be here for a long time. And

162
00:12:13.279 --> 00:12:16.000
the disruptive technology, they can't stop
it. You know, they're going to

163
00:12:16.039 --> 00:12:18.000
try to slow it down, but
it can't stop it. And remember there's

164
00:12:18.039 --> 00:12:22.840
two things happening in parallel here.
The crypto startups and small companies are getting

165
00:12:22.879 --> 00:12:28.120
sued Coinbase and when I say small, I mean relative to you know,

166
00:12:28.159 --> 00:12:31.960
Wall Street firms like Fidelity and black
Rock, they're getting sued. The small

167
00:12:31.960 --> 00:12:35.519
ones are getting sued. But notice
Wall Street's coming in issuing ETFs, filing

168
00:12:35.600 --> 00:12:43.080
for ethereum ETF tokenization, custodying funds
and reserves for different crypto assets. So

169
00:12:43.200 --> 00:12:48.279
clearly two things happening here on this
spectrum. How can they both be happening

170
00:12:48.279 --> 00:12:52.240
at the same time. Why isn't
black Rock and Fidelities and these guys getting

171
00:12:52.240 --> 00:12:56.000
walls notices? Right? Do I
do even need to go further and explain

172
00:12:56.080 --> 00:13:00.600
that that's the game that's being played
here now? I'm in content with Mark

173
00:13:00.639 --> 00:13:03.039
Fagel. Many of you know him. He's a former SEC official. He's

174
00:13:03.120 --> 00:13:07.120
usually on Twitter talking about crypto and
much more, and we're talking about setting

175
00:13:07.200 --> 00:13:09.480
up an interview, so I want
to give you guys heads up about that.

176
00:13:09.559 --> 00:13:13.480
For those of you who know about
Mark Fagel, and I want to

177
00:13:13.480 --> 00:13:16.440
get his thoughts. You know,
I've interviewed Hester Purs, Joe Grunfest,

178
00:13:16.480 --> 00:13:20.120
and SEC official Joe Hall, so
it would be great to get Mark's take

179
00:13:20.279 --> 00:13:24.840
on what's happening right now because he
has been outspoken, and you know,

180
00:13:24.879 --> 00:13:28.600
I'll try to have a fair conversation
with him because there's certain things I don't

181
00:13:28.600 --> 00:13:33.120
agree with him on and there's certain
things I do. So we'll see how

182
00:13:33.159 --> 00:13:37.679
this conversation goes with Stay tuned.
I'll let you guys know when it's confirmed

183
00:13:37.679 --> 00:13:41.879
and we can compile some questions that
you all may have that I can talk

184
00:13:41.919 --> 00:13:43.799
to him about now, folks.
Quick word from our sponsor, and that

185
00:13:43.960 --> 00:13:48.840
is Uphold. Uphold is one of
the top crypto platforms out there where you

186
00:13:48.879 --> 00:13:52.480
can buy Bitcoin and all the top
all coins including x rpe Theorem, Cardono,

187
00:13:52.519 --> 00:13:58.039
and much more. They have two
hundred and sixty plus cryptocurrencies and best

188
00:13:58.039 --> 00:14:01.519
of all, guys, they are
fully reserved. They have transparency reports you

189
00:14:01.519 --> 00:14:03.639
can go review it. They don't
com mingle or lend out your funds.

190
00:14:03.840 --> 00:14:07.440
You can also trade precious metals on
this platform such as gold, silver,

191
00:14:07.519 --> 00:14:11.559
palladium, and platinum. And they
have a great new product called Vault which

192
00:14:11.600 --> 00:14:16.159
helps you to back up your private
keys. It splits it up into three

193
00:14:16.200 --> 00:14:20.159
categories where they keep one part of
it, but you still control your funds,

194
00:14:20.320 --> 00:14:22.440
so if you ever lose any of
your private keys, they are there

195
00:14:22.519 --> 00:14:26.639
to help you out. They currently
support Bitcoin and XRP, so it's a

196
00:14:26.639 --> 00:14:31.879
great product to check out to give
you peace of mind if you are feeling

197
00:14:31.919 --> 00:14:35.799
uncomfortable with your self custody and you
want just that extual layer of security.

198
00:14:35.960 --> 00:14:39.000
Once again, you still control your
funds. They cannot move your funds or

199
00:14:39.039 --> 00:14:43.039
touch it, but they are backing
up your private keys and so forth,

200
00:14:43.440 --> 00:14:46.120
so be sure to check out uphold
link will be in the description. Now,

201
00:14:46.159 --> 00:14:50.960
guys, we got some interesting news
coming from Standard Chartered Bank. They're

202
00:14:50.000 --> 00:14:56.000
saying if Donald Trump was to win
the presidential election against Biden, it would

203
00:14:56.000 --> 00:15:01.440
be positive for bitcoin and crypto.
Trump reelection may cat pulled bitcoin Standard Charter.

204
00:15:01.480 --> 00:15:03.679
It says, now, this is
highly speculative, but I think there's

205
00:15:03.679 --> 00:15:07.720
some truth behind it, but they're
you know, taking it to the next

206
00:15:07.799 --> 00:15:11.519
level, embellishing a bit too much. But we know Trump has warmed up

207
00:15:11.559 --> 00:15:16.519
to crypto. I think because of
Vivek Ramaswami coming on his team telling him

208
00:15:16.519 --> 00:15:20.559
about CBDCs and crypto and bitcoin.
He's warmed up to it. We know

209
00:15:20.639 --> 00:15:26.360
his campaign has issued NFTs Bitcoin ordinals
and much more so. He's definitely done

210
00:15:26.360 --> 00:15:31.120
a one point eighty on crypto versus
when he was president and tweeting out that

211
00:15:31.200 --> 00:15:33.279
he's not a fan of it and
so forth. The man is now building

212
00:15:33.320 --> 00:15:37.720
on it, right. And Look, he may never come on and say,

213
00:15:37.720 --> 00:15:39.440
you know, bigcoin is great and
things like that, because that would

214
00:15:39.440 --> 00:15:46.399
be an incredible endorsement and very impact
on the way the markets may move.

215
00:15:46.480 --> 00:15:50.600
So I don't think he will want
to do that. But I think actions

216
00:15:50.720 --> 00:15:54.759
speak louder than words here where he's
using the technology and that's pretty big.

217
00:15:54.799 --> 00:15:58.840
And uh, he's talked about accepting
bitcoin his payments and so forth for the

218
00:16:00.080 --> 00:16:03.559
NFT's and shoes and all that.
Once again, this is not an endorsement

219
00:16:03.639 --> 00:16:07.120
of Trump. I try to be
neutral here when I report news like this,

220
00:16:07.320 --> 00:16:11.519
whether it's about Biden or Trump.
But they're not wrong here. They're

221
00:16:11.559 --> 00:16:12.919
embellishing a bit, but they're not
wrong here. Now, guys, we

222
00:16:12.960 --> 00:16:18.360
continue to see massive amounts of capital
flowing into the crypto market. And here

223
00:16:18.360 --> 00:16:22.200
Bloomberg with Crypto is reporting that crypto
startups are putting valuations in the fast lane

224
00:16:22.200 --> 00:16:27.919
with an aggressive form of fundraising that
reflects the digital asset industries recovery as well

225
00:16:27.960 --> 00:16:33.279
as a desire among venture funds to
put money to work. So I think

226
00:16:33.600 --> 00:16:36.720
a couple of things. One,
the bull markets here, the ETFs have

227
00:16:36.799 --> 00:16:40.440
been improved. We are clearly in
an uptrend, so more capital is going

228
00:16:40.480 --> 00:16:44.039
to come in. Two, I
think markets are starting to see the signal

229
00:16:44.200 --> 00:16:48.399
or what's down the road where the
FED will eventually cut rates, that we

230
00:16:48.440 --> 00:16:52.879
have hit the peak of our quantitative
tightening cycle. Yes the Fed has not

231
00:16:52.960 --> 00:16:56.080
cut yet, but they have paws. And it's better than when you are

232
00:16:56.120 --> 00:16:59.840
in a run up and they keep
raising rates. Right. That's where you

233
00:17:00.159 --> 00:17:03.080
to be cautious and you're like,
when is this thing gonna top out?

234
00:17:03.399 --> 00:17:07.680
It's all about the markets anticipating what's
gonna come next. And markets are forward

235
00:17:07.839 --> 00:17:11.680
looking, as I've often stated to
you guys, So they see maybe the

236
00:17:11.720 --> 00:17:15.799
next year or so. And I
think it's after the election that rates are

237
00:17:15.799 --> 00:17:18.119
gonna get cut, which means we're
gonna go back to easy money cycle.

238
00:17:18.240 --> 00:17:22.039
Right, the cost of capital is
going to be cheaper. It's gonna be

239
00:17:22.559 --> 00:17:26.599
back to money printing quantity day of
easing. It's not gonna happen overnight.

240
00:17:26.640 --> 00:17:29.240
There's a process to it, so
the Fed is eventually gonna get there.

241
00:17:29.640 --> 00:17:33.319
So markets are front running. In
my opinion, I think that when they

242
00:17:33.319 --> 00:17:36.720
start cutting next year, we could
see a correction for sure, like we

243
00:17:36.799 --> 00:17:40.839
have historically. I don't think it
happens before the election. Like I said

244
00:17:40.839 --> 00:17:45.240
in my newsletter earlier this year.
Now I could be wrong, and I

245
00:17:45.279 --> 00:17:48.200
think that we could see the blow
off top this year, if not early

246
00:17:48.319 --> 00:17:52.079
twenty twenty five. Maybe they don't
cut rates, you know, in December

247
00:17:52.119 --> 00:17:56.880
after the election, but it comes
in Q one, maybe February or March,

248
00:17:56.960 --> 00:18:00.799
and then you know, markets started
going down. But nevertheless, I

249
00:18:00.839 --> 00:18:04.400
think these fund see what's on horizon, cheaper capital as well as the bull

250
00:18:04.480 --> 00:18:08.880
market running up. So now's the
time to grab some equity, get grab

251
00:18:08.960 --> 00:18:11.799
some coins, and that you can
exit even later this year on some of

252
00:18:11.839 --> 00:18:15.519
those coins. So I think it
makes sense, and Bloomberg and all these

253
00:18:15.519 --> 00:18:19.680
different firms are sharing to recognize the
vcs waking up and starting to inject more

254
00:18:19.680 --> 00:18:23.000
capital into the crypto market. So, folks, that's the news. Let

255
00:18:23.000 --> 00:18:26.440
me know what you think. Don't
forget to grab a copy of my book,

256
00:18:26.519 --> 00:18:30.279
Rethinking Crypto, The Crash of FTX
and the Rise of safer Stronger Digital

257
00:18:30.279 --> 00:18:33.440
Assets, available in digital and paperback
on Amazon, linking to description. Guys,

258
00:18:33.799 --> 00:18:37.680
grab a copy to support the podcast, Buy a copy for a friend

259
00:18:37.799 --> 00:18:41.359
or family member who wants to learn
about crypto. It covers the ETF race,

260
00:18:41.559 --> 00:18:45.279
the regulatory battles with the SEC ripple
in much more, what does the

261
00:18:45.279 --> 00:18:51.480
future of crypto look like? Tokenization
NFTs, and it summarizes everything. Guys,

262
00:18:51.480 --> 00:18:53.279
So I appreciate your support. Don't
forget. I'll be at the DC

263
00:18:53.400 --> 00:18:57.359
Blockchain Summit on May fifteenth and sixteenth. You can grab some tickets and get

264
00:18:57.400 --> 00:19:02.119
a discount using the code Thinking Crypto
link in the description. Guys, I'll

265
00:19:02.160 --> 00:19:04.240
be there for the summit and the
Blockchain Education Day. Heads up. The

266
00:19:04.240 --> 00:19:10.200
summit is much more costly, but
the Blockchain Education Days is The tickets are

267
00:19:10.279 --> 00:19:12.200
cheaper and you get to go on
Capitol Hill, and that's what I'm excited

268
00:19:12.200 --> 00:19:15.880
about. So I'm looking forward to
that and hope hopefully I get to see

269
00:19:15.880 --> 00:19:18.640
some of you there. I'll be
doing some podcasting, some vlogging, and

270
00:19:18.720 --> 00:19:22.519
much more. All right, guys, thank you for watching and listening,

271
00:19:22.559 --> 00:19:23.200
and I'll talk to you all later