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Welcome to the Thinking Crypto Podcasts.
You're home for cryptocurrency news and interviews.

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If you are new here, please
hit that subscribe button as well as the

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platform such as Spotify or Apple,
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It supports the podcast and it doesn't
cost you anything. Well, folks,

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we got some interesting news coming out
from Ripple CEO Brad Garlinghouse. He

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retweeted Paul Grawall's comment yesterday about the
SEC going after Ethereum, and here's what

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he had to say. The SEC
picked fights with the industry and is losing

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badly in the courts. They're now
fighting fellow regulators like the CFTC and falling

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behind international counterparts. At what point
will the SEC realize they will lose the

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war against Etherereum just as they lost
against XRP. Wow. Big statements here

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from Brad, and great to see
that Brad is bypassed seeing the tribalism and

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maximalism that we see from some XRP
holders who want to see ETH go down

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just because they're mad about Bill Hinman. I've often stated, you have to

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separate the two things. Etherorem is
just software, It's just a token,

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right, But the anger should be
pointed towards not Vitalic and Etherorem, but

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rather the SEC. They are the
government officials that were compromised. They are

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the ones that caused this mess,
and they are the ones that are funded

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by our tax dollars. That's why
I'm pissed at the SEC and Gary Genser.

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I love that Brad came out and
said this because the crypto industry does

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need to unite to fight against the
common enemy that we have, and that

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is scumbag regulator Gary Genser. Now
Stuart Alderaddy retweeted Brad. He's the chief

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legal officer at Ripple. He said, Congress must stop funding this insanity.

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So my hope is that Tom Emmer
and the folks at the House Financial Services

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Committee can cut Gary's budget as it
relates to crypto until they're is actual legislation

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or Gary Genser backs down from attacking
good actors in the crypto market. We

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don't want the SEC to stop doing
its job, which is to protect investors,

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go after scams and bad actors,
which exists in every industry. Right.

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But Gary's clearly a puppet on strings
controlled by Elizabeth Warren, and he's

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attacking everything in the crypto industry.
They're trying to roadblock and kill some of

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these companies. We're seeing lawsuits,
we're seeing lying hypocrisy much more by the

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SEC. They're breaking the law themselves
and trying to stop good actors in the

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crypto market. It's unbelievable what we're
dealing with now. In regards to the

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Etherorem ETF, Nate Garachi, president
of the ETF store, he tweeted out

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if the SEC was going to argue
Etherorem equals as security, the time to

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do it was before they approved futures
ETF's last October. They didn't do that.

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Why not was perfect opportunity, He
says, also too late to make

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correlation argument. In my opinion,
if okay, with Grandma buying each futures

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ETF, then why not spot So
this is a big problem for the SEC

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because they have been operating under the
premise that it is a commodity. The

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features were approved, they went through
all of these things. Now all of

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a sudden, Gary's doing a one
point eighty and there's many layers here because

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it goes back to the Bill Hinman
situation and how Etherrem was given that free

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pass and not the rest of the
crypto industry. So lots of layers here,

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folks, and we'll see how this
plays out. This could be just

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a smoke screen from Gary to delay
the Etherorem ETF because we saw two Democratic

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senators sent Gary a letter saying no
more ETFs, don't approve any other ETFs.

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And I think Gary and Elizabeth Warren
pretty much gave them the information under

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the table. I would bet money
on that. And they didn't just wake

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up one day and say I'm going
to go after these ETFs. Oh,

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I hate them right. They didn't
wake up and do that on their own.

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So I think we see what's going
on behind the scenes. Smith Warner

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show and she will do anything and
everything to try to slow crypto down.

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But the great things the courts are
the ultimate equalizer and they are not putting

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up with any unlawful activities, lies
in hypocrisy. They're handing out massive ls

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to scumbag regulator Gary Genser. Now, speaking of Etheroreum, there's a report

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here that Vitallic Booterin, who's the
founder of Etherreum, talks rainbow steaking at

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eth type ay to combat centralization risks, So interesting timing of this news here.

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In his latest talk at eth typeey
Etheroreum, founder of Ittallic Booterin introduces

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rainbow steaking as a way to combat
growing centralization concerns around steaking. Booterin notes

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that staking in general and liquid steak
tokens today have become centralization risk on the

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Etheroreum blockchain, and this was something
that was brought up when Etherorem was moving

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from proof of work to proof of
steak, that you're going to have a

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good amount of whales that can hold
up a ton of tokens. They can

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accumulate the tokens over time instead,
and then the network becomes more centralized.

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He highlights that there are not enough
solo stakers on etherorem today, citing technical

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challenges like running your own node and
financial restraints like not having more than thirty

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two eth. This is because on
Etherorem, solo steakers must deposit thirty two

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EH, which is just over one
hundred and thirteen thousand dollars to join the

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network as validators. Many individuals who
wish to steak their ETH do so by

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delegating their tokens to liquid staking solutions. One of the most popular liquid steaking

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solutions today is Lido, which currently
has sixty one point three percent dominance over

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the market today. Boteren remarked that
a proposed solution to these centralization concerns around

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steaking is rainbow staking. The idea
here is that you explicitly split up into

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two kinds of steaking, and you
can call it heavy staking and light staking,

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Budarin said. In this particular case, heavy steaking is slashable and signs

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in every slot. On the contrary, light staking, which is not slashable,

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is pulled up to sign slots through
a lottery system. Here's a quote.

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You basically try to explicitly separate out
those two and potentially require both heavy

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steakers and light stackers to sign off
on a block in order for the block

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to get finalized, he said,
So you try to add the security of

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both of those approaches together. The
framework of rainbow steaking is ultimately hoping to

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counter the emergence of one dominant liquid
steaked token that could replace eth as the

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main currency on the etherorem network.
It is also designed to offer competitive participation

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by bolstering the economic value of being
a solo staker. So this is great.

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I think this is a great idea. Let's see if they can roll

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out and get this going, because
it will allow more participants and individuals to

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be able to steak because not everybody
can afford thirty two eth right, So

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this is something to keep in mind. So I like this idea here by

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Link will be in a description now folks,

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big news coming out here from krackin
so Cracking CEO Dave Ripley, he

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tweeted out Crackin Financial, a state
chartered full reserve bank, is now live

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and offering services to the crypto industry. Here's the news out of WYOM.

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This is a very big deal for
Kracking that they are able to do this,

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folks. Let me zoom out a
bit here. Second read so.

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The headline reads Kracken unveils qualified custody
solution for crypto in the US. Cracking

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Institutional, the dedicated brand for bespoke
crypto solutions for institutional investors from one of

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the largest standing and most secure crypto
exchanges, has formally launched its qualified custody

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solution, offered through krack and Financial. It's state chartered bank. You want

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to know why Jamie Diamond and the
banking incumbents are scared, why they're fighting

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back so much, why they have
Elizabeth Warren and Gary Genser going after the

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crypto industry. They're getting disrupted.
The capital is leaving their treadfi investment products

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and going into crypto. Crypto exchanges
have the ability to custody assets and become

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banks. So there's a change happening, a paradigm shift. So this is

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why we're seeing the big pushback and
why we are in the then they fight

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you phase. So headquartered in Wyoming, USA, Crack and Financial is authorized

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to offer digital asset security and deposit
accounts for institutions. As for its charter,

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Cracking Financial holds all deposits in full
reserve. You know, Jamie Diamond

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doesn't like that, right, because
no bank, for the major banks,

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they don't hold your actual money.
It's fractional reserve banking, right, So

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if everybody went to the bank and
asked for the money, you're not getting

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all your money. I think we
all have seen the movie It's a Wonderful

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Life, well some of us where
that is shown, and you have this

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bank run that may happen. So
the future, though, is full reserves,

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and that's where blockchain technology comes into
play and will change the whole banking

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system and make it better and make
DeFi and individual lending and barring better as

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well. So once again all deposits
in full reserve, making it the natural

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service provider through which Cracking Institutional can
offer qualified custody. Here's a quote.

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Custody has always been integral to the
institutional crypto space, and the recent success

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of the big cooin ETFs has only
underscored the need for a broader range of

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qualified custodians, said Tim o'gilvy,
head of krack and institutional. Folks,

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this is big news, This is
really big news, and Kracken is moving

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forward despite the SEC trying to sue
them again. Remember Kraken settled with the

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SEC over staking, had to shut
their staking service down in the US and

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pay a penalty, and then the
scumbag regulator Gary Ginster came back a year

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later sued them throw a whole bunch
of all coins in the lawsuit, which

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you're not litigating those all coins individually, giving them due process that they are

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doing the same thing to coinbase of
course. So Kracken then is now suing

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the SEC, and eight state attorney
generals are siding with Kracken, stating that

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what the SEC is doing is just
wrong. So really big move here from

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Kracken. Of the top crypto exchanges
in the industry. Now, folks,

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I'm sure many of you heard today
Reddit went public today. They debuted on

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the New York Stock Exchange at forty
seven dollars a share. Reddit of course,

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being one of the top social media
platforms, one of the top ones

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that survived the early Web TWI era
right of social networks, so pretty incredible.

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And remember Reddit holds bitcoin in e
theorem on their balance sheet and they

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have played around with NFTs and different
tokens, so they are certainly looking to

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embrace crypto as much as possible.
And a lot of the crypto community is

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on Reddit. There's tons of Reddit
sub forums around bitcoin, etheroreum, all

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are all coins and so forth.
So big news and we'll see what Reddit

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continues to do with crypto as things
progress. Now guys, we've been talking

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about crypto's impact on the elections,
and what we saw on Super Tuesday was

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incredible. Pro crypto candidates started to
win. We got super PACs supporting pro

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crypto candidates much more. Kristen Smith
of the Blockchain Association CEO of the Blockchain

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Association gave a great rundown summary here
of what's happening, so I want to

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share that with you guys. She
said, we're t minus approximately seven months

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till election day, and the digital
assets industry is at a political all time

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high. Here's how I see things
right now, there's a growing segment of

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American electorate that we think elected officials
and those running for office should pay more

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attention to people who care about the
future of crypto. These aren't necessarily single

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issue voters, but they do care
a lot about the future of innovation in

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this country. Happily, this segment
is making its collective voice heard across the

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nation. Now. She's providing different
references, different tweets and links here,

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but she continues here in DC crypto
users and industry professionals are engaging with Congress

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and offering solutions that can bring meaningful, real world change. She highlighted Coinbases

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Update the System summit that took place
just yesterday. The crypto industry is also

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participating in electoral politics in a meaningful
way with new groups that support candidates who

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are forwardlooking when it comes to innovation. She highlighted a political article and she

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says, we are seeing results.
So, like I said, crypt procrypto

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candidates were winning on Super Tuesday.
She continues, the crypto ecosystem has rebounded

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from the twenty twenty two slash twenty
twenty three downturn, markets are recovering,

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new projects are being funded and optimism
is prevailing. Backing up that optimism the

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American legal system. The courts have
repeatedly sided with crypto companies in recent cases,

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so obviously highlighting the victories against the
SEC as well as the EIA and

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much more. She says this is
particularly apparent in cases involving the SEC,

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which was just this week was sanctioned
by a federal judge for acting in bad

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faith. And in my view,
there is no political upside to being anti

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crypto. Many voters see current rules
and regulation as harmful to innovation and want

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Congress and other regulators to supercharge new
tech, not rein it in. Regulators

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and elected officials proposing even more punishing
rules for crypto consumers and investors should ask

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themselves why if thousands of Americans are
yelling that such rules would force them to

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close their businesses and or move their
registrations overseas, The question should perhaps be,

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how can we craft pro business rules
that protect consumers rather than drive them

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away. I'm optimistic as ever,
as I told the Boston Globe, I

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think twenty twenty four is the strongest
politically that the crypto community has ever been,

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She says. Here final item,
we say this a lot. Creating

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robust political advocacy and fundraising capabilities for
a new and growing industry is like building

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a plane while trying to fly it. I think we're closer than ever to

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having all the pieces in place.
I think she's spot on here, folks

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and money talks in Washington, and
so the votes. So we're seeing a

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massive change here. And remember,
millions of Americans own crypto and this is

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where Elizabeth Warren and these folks are
getting exposed. And the great thing is

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we have social media where we can
amplify our message and highlight the lies,

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the hypocrisy and all the nonsense and
unlawful activities that the sec. Gary Genser

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and Elizabeth Warren have been doing.
So this is really great. We are

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moving in the right direction. We
need to get Congress to act, but

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we're moving in the right direction.
And speaking of votes in DC, guys,

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a friendly reminder. I will be
at the Digital Chamber of Commerce DC

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Blockchain Summit in May from May fifteenth
to the sixteenth. There are two days.

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Fifteenth is a summit, the sixteenth
there is an education day where you

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go in Capitol Hill meet with legislators
and so forth. I'll be there.

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If you would like to attend,
check out the link in the description.

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You can use the code thinking Crypto
to get a discount. And if you

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don't want to attend the summit,
it is the more pricier ticket. You

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can come to the education Day,
which is a lot but a great experience,

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and I would love to meet some
of you there and talk about things

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and we can make our voices heard. So be sure to check out the

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link in the description to learn about
the Blockchain Summit, the DC Blockchain Summit,

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and that's hosted by the Chamber of
Digital Commerce. Well, folks,

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that's the news. Leave your thoughts
and comments below we hit the thumbs up

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button. Follow me on all social
media platforms, subscribe to my free email

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news that are link will be in
a description. Thank you for watching and

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listening, and I'll talk to you
all later