Vice president Kamala Harris is reaching out to Mark Cuban for advice on crypto and
pro crypto group. Fair Shape becomes the largest superpack of the election cycle,
raising over two hundred million dollars, and the etherorem spot ETFs are off to
an amazing start with one billion dollars in trading volume today, and Solana is
getting huge adoption with real world companies such as Hamilton Lane, which has put
a private credit fund on the blockchain. We're gonna break this down and much
more. Let's get into it. Hey, everybody, welcome into the Thinking
Crypto podcast. You're home for cryptocurrency news and interviews. I'm your host,
Tony Edward. On your way in, Please hit that subscribe button as well
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a podcast platform such as Spotify or Apple, please leave a five star rating
and review. Folks, let's take a look at the price of big Some
people are starting to get a bit nervous because bitcoin pulled back a bit.
Right now is trading at sixty five, seven hundred and ninety five dollars at
the time of recording. So what's happening here. Well, first, the
DXY is finding some strength on the daily chart, but this is on the
micro. On the macro, we are in an uptrend. We're in a
bull market, as I've been saying, and these little micro movements of Bitcoin
pulling back a bit the DXY pumping up a bit are nothing to be alarmed
by. We are going to see these type of things happen because Bitcoin won't
pump in a straight line. Likewise, the DXY is not going to drop
and crash in a straight line. It's going to be a rollercoaster ride,
both up and down. We've seen this time and time again. In addition,
you have the Mountgox creditors have begun receiving bitcoin and crack in exchange,
so there is some cell pressure here similar to what took place with Germany and
them selling the bitcoin they had. But these events we've seen are not significant
in affecting the bullmarket, and once they're over, they're over, and the
market keeps moving up. So these are the factors right now that are holding
up the market, so to speak. In addition, we saw the stock
market started cooling down. The Dow Jones, the S and P five hundred
both were overbought. So they're right now in a little bit of a corrective
phase, seeing a bit of a pullback. Healthy stuff, Right, Markets
don't go up in a straight line, and these pullbacks help us to build
support levels before we bounce to higher highs. Now, obviously there's going to
be a ultimate top to the bullmarket. Right. I've been saying we're in
a macro bullmarket for stocks, crypto, real estate and so forth. But
we're not there yet. The signals are not flashing yet. But this is
why I've been telling you guys, have a plan, so you know what
price points you're taking profits at now, Guys, Today, of course the
Etheroreum's body tps went live and they are off to a great start. Around
ten am Eastern this morning, we got news that the trading volume was at
two hundred million dollars in the first forty five minutes. Well, since then,
the trading volumes has hit one billion dollars, so that's pretty incredible.
We're off to a great start. This is very bullish, and I've been
stating I don't expect the etheremytfs to do what the bigcoin ETFs did. Obviously,
there's not as much demand for Eth as there was Bitcoin. But they
will be successful. They will do well because Ethereum is the second largest crypto
in the market and there's a lot of demand for it. I think they
would have been more demand if staking was involved, because part of the appeal
for etherorem is that staking component to be able to earn passive rewards and yield
and so forth. But guys, great stuff here, and the folks at
Bloomberg and all these guys have been tracking it and it's off to a great
start. Guys. So as I said in yesterday's podcast, I think there's
going to be a lagging effect where as the inflows grow, as the market
finds its bottom in this mini pullback, and as the media starts talking about
it, you're going to see more upward price action. So we got to
be patient let things play out. But this is a great on rap being
set up here for the second largest crypto assets. Guys. Pretty bullish stuff.
Now here's what Congressman Tom Emmer, who's GOP majority whip, had to
say about the ETFs going live. He says, great to see the sec
aust course and allow Eth spottytfs to begin trading today on second thought, we
should actually be thanking the courts. Gary Ginzer has to go. So we
know he's been trashing Gary for a long time, and I've had him on
the pod quite a few times as well, but he's spot on. This
is because of the courts. Gary wouldn't have approved the big Quinny tfs if
it wasn't for the loss and against Gray Scale in the courts. And I've
been saying it for a long time. I don't think Gary wanted to mess
with Black Rock and Fidelity and these big names in the courts. He would
have gotten his ass handed to him because if Gray Scale, a small crypto
firm, could defeat him in court, imagine what the Wall Street folks would
have done with unlimited capital and resources. So Gary capitulating for sure, and
Tom members spot on here. Now, speaking of the SEC, we have
some big updates from Taylor bar of the Digital Chamber. He said this week
the House will pass the Financial Services Appropriations Package for twenty twenty five. This
fund's agencies like the SEC, US, Treasury, FTC, FDIC, etc.
Fromd reminder that there's sections on one barring the SEC from using funds to
enforce SAB one two one. This is significant because there was bipartisans support in
repealing SAB one to one in the House and Senate, but Biden ultimately vetoed
it. But this is another guardrail to rein in the SEC that you can't
use any of your budget towards enforcing this bullshit rule which the government accountability off
is shot down. And we know if it wasn't for Elizabeth Warren speaking in
Biden's ear, he wouldn't have vetoed this, right because I don't think Biden
cares one way or the other, but he's going to listen to Elizabeth Warren.
But we know that this whole situation obviously has escalated where Biden has dropped
out of the reelection race and so forth. Number Two limiting the SEC's ability
to issue enforcement actions against digital asset transactions. This is a big one.
So what they can do from an enforcement standpoint is being limited. Number three
preventing the US Treasury from issuing a CBDC. So once this makes it out
of the House, of course, it has to go to the Senate and
it will work its way up to the President and let's see if it can
become law. But this is a good sign. Even if it doesn't become
law, it just shows that Gary is losing the narrative, Elizabeth Warren is
losing the narrative. Their whole facade of lies is collapsing on them. And
on that note, guys, we got big news from Kamala Harris, who's
of course the current Vice president and now the Democrat presidential candidate. So Mark
Cuban says, Kamala Harris camp reached out with multiple questions about crypto, so
they reached out to him, said the following I'm getting multiple questions from her
camp about crypto, he said Tuesday, So I take that as a good
sign. The feedback I'm getting, but certainly not confirmed by the VP,
is that she will be far more open to business, artificial intelligence, crypto,
and government as a service. Cuban said, Folks, this is big
and it goes back to crypto should not be a partisan issue. Both Democrats
and Republicans should be supporting this. But because the Democrats messed up and let
Elizabeth Warren drive this clown car anti crypto army nonsense, that car has crashed
and it's now on fire and the Democrats are feeling it now. The good
thing is that many Democrats turned their backs on Elizabeth warning Gary Gains and helped
pass the FIT twenty one bill in the House, voted to repeal SAB one
two one and so forth. And you had like a Rowcanna, who I'm
interviewing tomorrow, held a crypto roundtable with Mark Cuban and the Biden administration and
other folks. So there's some Democrats who are like, you know what,
We're done with Elizabeth Warren and Gary Againster and we're gonna try to fix this.
Yesterday I shared a clip of Congressman Wiley Nichols saying he's been talking to
Kamala Harris about crypto policy and moving away from the SEC and Gary Gangster's approach
to it. So things are moving in the right direction. This is not
me trying to endorse Kamala Harris or Trump or whatever, but rather trying to
highlight that crypto's here to stay and the Democrats screwed up and they have to
fix this now. And there's some promising signs here. Will she actually do
it. We'll have to wait and see. And I love what James Murphy
aka metalaw Man had to say. He retweeted this news saying a crypto pivot.
Ignore what they say, watch what they do. This is really easy
they do. And now he's speculating, right, this is the way they
can do things. One acknowledge and revoke Operation Choke point two point zero,
number two, fire Gensler and appoint crypto industry veteran. Number three, drop
cases against ripple coinbase crack and by consensus, et cetera. Number four sign
bill repealing SAB one two one, number five grant Custodia Bank a fed Master
account for starters. Well, you know, look, I this would be
the ideal scenario. Will they actually do it. I don't think so,
But if they do, that will be an incredible move and it will be
a big checkmate to Donald Trump and his campaigning around crypto. But look,
Gary Ginster is still in office, Elizabeth Warren is still there and she can
easily spew her venom in Kamala's Harris's ear right. But hopefully these other Democrats
can really convince Kamala to do the right thing where this is not an election
issue anymore. It should just be America's pro crypto versus Republicans at pro crypto
and Democrats are not right that's how it should be. But guys, crypto
is a political force. As I've been telling you guys for months and months
now, pro crypto group fair Shake comes the largest super pack of election cycle,
raising over two hundred million dollars. The last numbers we had gotten was
over one hundred and sixty, where coinbase, a sixteen z in ripple had
each put an additional twenty five million dollars in. Can you imagine in this
election cycle crypto is the largest super pack. I would not have thought that,
guys. He told me about this in twenty twenty three, I wouldn't
have believed you. Out of all the other special interest groups and all these
things that are going on, Crypto's the largest. And I think the crypto
industry finally got tired of the unlawful attacks against it from sec Gary Ginser,
Elizabeth Warren's anti crypto army nonsense. And now those who are anti crypto are
getting demolished in the elections. We saw it on Super Tuesday, we saw
it in the primaries, and that's why I think a lot of Democrats pivoted
and turned their backs on Gainst and Warren. So this is huge, folks,
It's pretty amazing how much capital has been raised and they are supporting both
Democrats and Republicans who are pro cryptos. So amazing stuff. Look how far
we've come, guys. Once crypto is called a scam, a fad,
and some of the biggest names were coming out saying nonsense about it. Now
we're a political force tradifies building with the technology and launching financial products like ETFs.
Presidential candidates are campaigning on it. It's amazing what's taking place now.
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description. Now, guys, yesterday I told you about mainstream media is starting
their coverage about bitcoin being a strategic reserve asset in the United States, and
of course everybody is waiting in anticipation to hear from Trump because the rumor is
he's going to present his plan to make bitcoin a strategic reserve asset. Well,
I spoke to someone today, actually, Cody Carbone at the Digital Chamber,
and I'll be publishing that interview tomorrow, he said. In addition to
that, he's hearing that the Senate will introduce a bill this week that proposes
making bitcoin a US Treasury reserve asset. So this is wild, guys.
I'm blown away at what's happening. But if a bill is being presented by
the Senate and Donald Trump is saying these things, get ready. This ballmarket
is heating up, as I've been saying, have a plan because we could
start to see some movement upward as these narratives are being built and mainstream media
is covering it. So today Fox Business covered it, yesterday it was CNBC.
So the narrative is spreading and retail is gonna wake up. People are
gonna be like, what what Donald Trump saying this what the Senate is,
you know, proposing this to get ready, guys, Exciting times are ahead.
Now. We got big news around Solana. About a month and a
half ago. I bought the dip on Solana, adding a significant amount of
my portfolio because I'm seeing all the adoption with the launch of blinks, with
the ETF filings, and just more adoption outside of meme coins. Right.
At one point, I didn't care about Solana because at the meme points,
I'm like, okay, what whatever, But look look at this news.
Hamilton Lane puts private credit fund on Solana. Hamilton Lane is a trad fi
company. They're no joke. This is pretty amazing. So let me give
you a quote from the article. Hamilton Lane is making its senior private credit
fund available on the Solana blockchain through a partnership with Libre, Libre and Institutional.
Web three Infrastructure is a joint venture launched earlier this year by Hedge Fund,
Brevin Howard's web end Group, and Nomora's Laser Digital. It launched a
web three protocol on the Salona network for the issuance and distribution of funds.
Through this, Solana's users will be able to access Hamilton Lane's Senior Credit Opportunities
fund scope through a feeder fund structure. This is what you want to see
as an investor in these different crypto tokens, which ones are getting real world
adoption, not by some random startup, which is there's nothing necessarily wrong with
that. But you want to see tradified giants. You want to see established
companies coming in and saying you know what, Yeah, we want to we
want to build on this because it makes sense. It improves the way we
can do business, improves efficiency and much more so. Guys, huge news
for Solona, and that's why I I've added a significant amount in my portfolio
and I'm going to ride the liquidity wave which has We've seen Salona get a
ton of liquidity, a lot of vcs are backing it, and much more
now moving ahead, guys, we all know that fetch dot Ai Singularity and
I forgot the other one that was merging with to become the ASI Alliance.
They have raised fifty three million dollars to create the world's first modular AGI super
computer and build a state of the art high performance computing and AI data centers.
I've been I told you guys in December twenty twenty two and Januy twenty
twenty three, AI was going to be a big narrative. I put a
bet on Fetch and rendered it was made me incredible returns and it's not ending.
This is a big narrative here, so very very bullish. I'm actually
going to get the folks on Singularity on the pod to talk about this.
That's a lot of money they raised there, so it's a pretty incredible stuff.
Let me give us an details. According to a July twenty third announcement,
the investments first phase will allocate twenty six point five million dollars to the
supercomputer, incorporating modular data centers, solutions from Echo Blocks, graphics processing units
and processors from companies such as Navidia, AMD, Tenstorrant, as well as
AI servers from Asis and Gigabyte Singularity Nets. Supercomputer will optimize the training of
deep neural networks d and NS, Large language models LMS, including a multimodule
variations the hybrid neural symbolic computing architectures such as OpenCog Hyperon. I don't even
know half of what I just said, but I have to do some more
research on this, but that's a lot of capital a rays and it looks
like they're trying to really build the future of AI with blockchain, because I
think those two technologies are symbiotic. AI helps to enhance blockchain feed and capabilities,
and blockchain helps the police AI when it comes to content and deep fakes
and all that stuff. So this is big news. Folks. Let me
know what you think. Leave your thoughts and comments below. Folks, don't
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I appreciate you guys, and I'll talk to you all later. Don't things, don't do