WEBVTT

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

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00:00:11.839 --> 00:00:15.519
news and interviews. On your way
in, please hit that subscribe button as

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00:00:15.519 --> 00:00:18.519
well as the thumbs up button and
leave a comment below. If you're listening

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on a podcast platform such as Spotify
or Apple, please leave a five star

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reading and review. Folks, we
got the bitcoin spot ETFs in Hong Kong

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going live pretty soon. James Sayferd
to Bloomberg highlighted the following, the three

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Hong Kong spot bitcoin ETFs are going
to start trading in a few hours.

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They are ready to go on Bloomberg
Terminal. He also highlighted that the three

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etherorem Spot ETFs will also go live
at the same time. So, folks,

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I'm very curious as to what the
inflows will be now. I'm not

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expecting anything crazy right out of the
gate. I believe there's a crawl walk

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run to this. As we saw
with the bigcoin ets in the United States,

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it took a couple of weeks before
it really ramped up, and the

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inflows when nuts, right record breaking. You got Larry Fink smiling on TV

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saying we didn't expect this, and
it ended up being the best performing ETF

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in the history of ETF. So
we will see inflows from across the globe.

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Yesterday I shared with you guys at
Australia is looking to approve bitcoins body

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tfs as well later this year,
and London via the UK is looking to

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launch in May. So, folks, we're gonna see inflows some institutions and

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many different folks around the globe.
A lot of money is going to come

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into this asset class. And we
are still in a bullmarket. We are

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in a pullback phase right now,
and we will find a bottom and start

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bouncing up. It wouldn't surprise me
if the market started moving within the next

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week, given that we have these
ETFs launching. That's not a guarantee,

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but it's a possibility. It's probable
that it could happen. So right now

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in Hong Kong, it is just
about nine am, I believe. Yeah,

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it's eight fifty nine am at the
time of recording right now, So

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they got to go live, guys, in maybe a half an hour or

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whatever it may be. I don't
know exactly when their trading opens up,

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or maybe it's at ten am,
but they're going live today Hong Kong time,

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of course. Now let's take a
look at the top trending tokens on

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social media. This data is brought
to you by Sentiment, which is a

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partner of the channel. If you
want to sign up for a Sentiment account

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to get all types of cryptometrics and
data and analytics, check out the link

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in the description. You can get
a discount using the code thinking crypto.

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Coming in with the line share of
mentions is Masa, which a really great

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positive sentiment and the reason why it's
trending here pretty significantly according to the summary

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is total reward pool for Masa.
Trading competition is seven hundred thousand. MASA

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trade one hundred dollars worth of Masa
to get the guaranteed share of one hundred

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and seventy thousand Masa reward pool.
So they got some sort of trading incentive

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here, which is pretty great.
Coming in a Number two is Etherorem with

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positive sentiment. Number three is Helium
H and T with positive sentiment. We

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got number four pledge camp PLG.
I haven't heard of this. I don't

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know what that is. It comes
in at number four here with positive sentiment.

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Algoran coming in at number five although
it's positive to negative sentiment is not

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great. Positive sentiment is at forty
one point nine percent, negative at forty

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point ninety one percent, so very
close there. Then you have monstera mstr

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almost like micro strategies. Ticker symbol
comes in at number six with positive sentiment.

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Usdt on Avalanche comes in at number
seven with positive sentiment. AMP comes

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in at number eight with positive sentiment. Avax Avalanche I have this in my

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portfolio comes in with positive sentiment.
And finally tron Trx comes in at number

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ten with positive sentiment. So those
are your top ten trending tokens. Now

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let's jump into the news folks.
Shout out to Eleanor Tarrett, journalist at

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Fox Business, who did some great
reporting on what is happening with the SEC

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versus E theorem. She tweeted out
her article today stating new court filing show

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SEC chair Gary Gainser believed Etherorem was
a security for at least a year,

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so he didn't just dream this up, guys. This is not a recent

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thing. He's been putting his whole
plan together over the past year. And

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I think that makes sense because they
approved Prometheum's licensed to custody Etherrem as a

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digital asset security, as Gary would
call it. So I think he's been

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setting the table here and putting together
his strategy so that he can then launch

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the investigation with the Etheroreum Foundation and
consensus and much more so. Eleanor did

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a great write up here. You
guys can certainly check out the article on

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Fox Business, but here's some details
that she provided in tweets to give you

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the TLDR she said. The filing
says the Etheroreum two point zero investigation,

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as it was called, was based
on the SEC's belief that possible offers and

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sales of certain securities, including but
not limited to eth had occurred since at

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least twenty eighteen. Wow. If
the against the s SEC finds Etherorem to

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be a security, it would contradict
prior SEC guidance under Chairman J. Clayton.

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In June of that year, then
Director of Corporation Finance Bill Himmen stated

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in a speech the SEC's position that
Etherorem, alongside Bickquin, was not a

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security. Now, folks, we've
talked about this ad nauseum, and you

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know it goes back to what I've
been saying they might throw Bill Hinman over

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their bus here and say he's the
drunk uncle. But we know he ain't

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know a drunk uncle. He knew
what he was doing. He had conflicts

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of interest with Simpson Thatcher, the
law firm that was paying him, which

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was part of the Etherorem Enterprise alliance, So clear conflict of interests. Hinman

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met with Joe Lubin and Vitalic,
and then yesterday I shared with you guys

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a news article of what Vitalic recently
said that Etherorem d the proof of work

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was centralized. So you can't make
this stuff up right. A lot of

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people trying to cover their tracks here, Gary trying to cover the SEC's track,

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Vitalic trying to cover the tracks as
well. But this is pathetic,

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and this is why the SEC has
fallen far from its core mission of protecting

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investors, has become corrupt. At
its core, it's become political and that

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has not changed under Gary Gainser.
It's actually been amplified. So incredible what

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is taking place here now? Eleanor
provides some additional context as well. She

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says she reached out to Tom Emmer, the GOP majority whip, who has

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been very critical of Gary Ginster,
of course, and she said she asked

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him for a comment, and here's
what he said. Last year, Gary

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Ginser refused to tell Congress if the
SEC categorizes ETH as a commodity or a

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security. Newly released court documents showed
that the SEC's enforcement team was directed just

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weeks before Gainster's congressional testimony to proceed
as though EITH is a security. This

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regulatory dishonesty is reprehensible. It's tainting
our great capital markets, harming investors,

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and threatening US global leadership. Yeah, well that's fine and dandy, but

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Gary doesn't care what you say.
You can call them names, you can

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call them corrupt. He's a crook, but unless you take action, he

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doesn't care because he's got Elizabeth Warren
backing him up. And look, I

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get it right, There's only so
much the House can do because the Democrats

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are in charge and Elizabeth Warren has
a lot of power, and Gary's appointed

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by Elizabeth Warren and the Biden administration. So they have to find ways to

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keep Gary accountable. And I think
one way they can do that is cut

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his budgets and reject his budget requests. We'll see if they do that,

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I think there's still opportunity for him
to cut back his budget as that is

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still in play for approval for twenty
twenty five. They will bring in Gary

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pretty soon, I think in May, if I'm not mistaken. So we'll

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see will they actually take any actions? Because calling him out and saying he's

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doing this has not worked. The
man Gary Gainster keeps going and doing all

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types of corrupt things, breaking the
law right in the debt box situation that

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get sanctioned. He doesn't care.
They get called arbitrary and capricious in the

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gray Scale lawsuit, he doesn't care. He just continue. So what will

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they do now? Eleanor Tarrott acts
Patrick McHenry the same thing. What do

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you think about this? Here's what
Patrick mcchenry said, and it's very similar

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to what Tom member said. Just
months after a federal judge sanctioned SEC enforcement

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lawyers for lying to the court.
New evidence shows Chairgainster himself misled Congress.

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In testimony to the Financial Services Committee
last April, Chair Againster refused to answer

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questions regarding the SEC's classification of Ether. New court filings show this was an

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intentional attempt to misrepresent the Commission's position
classifying ether as a security contradicts previous statements

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of the SEC and Chairgainster, yet
another example of the arbitrary and capricious nature

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of the agency's regulation by enforcement approach
to digital assets. This episode underscores the

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urgency of Congress passing the bipartisan FIIT
Bill for the twenty fourth Century Act to

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provide a clear regulatory framework and robust
consumer protections for digital asset markets. Again,

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Okay, you gotta take action either
you pass that bill, you cut

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Gary's budget. What are you guys
going to do, right? Sending him

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letters, tweeting at him and saying
these things. It's getting old now,

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right Initially, Look, and I
have a lot of respect for Tom Emmer

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and Patrick McHenry. I respect all
the stuff they're doing, and I support

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him. But at the end of
the day, it's all words unless you're

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taking action against this guy, right, unless you're cutting his budget, or

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you are doing something where he is
tying him up where he cannot do these

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enforcement actions against good actors. And
we'll see, we'll see, you know,

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maybe it still has to go back
to the courts. Gary wants to

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block the ethere metifs, maybe he
gets sued by Black Rock, Fidel League,

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Ray Skill and all the issuers in
addition to the industry counter suing him.

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Right Consensus is suing the SEC.
We got a ton of advocacy groups

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suing the SEC. So let's see
what happens here, right, folks,

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I'm keeping it real with you all. And and once again, I've had

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Tom emmerod multiple times. I want
to get Patrick Henry on, but I

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will straight up ask them, guys, what are we doing? Right?

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Just talking doesn't do anything. Maybe
they're building their case, maybe they're getting

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ready to make a big move.
Who knows, But we'll have to wait

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00:10:15.000 --> 00:10:16.399
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be in the description. Now.
Guys Ron Hammond of the Blockchain Association,

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00:11:07.519 --> 00:11:11.919
who has been a frequent guest on
this podcast, tweeted out his weekly update

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00:11:11.000 --> 00:11:16.039
about what's happening in DC and crypto
and here's some important takeaways. I'm not

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going to read everything, but I
think this is important, he said.

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Congress is back for four weeks after
wrapping up their latest priority for the year

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in the foreign aid bills. There
aren't many must pass bills left, and

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the election is near six months out. There is a lot to look forward

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00:11:31.600 --> 00:11:35.279
to for crypto on the Hill.
First up, stable coins. A lot

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00:11:35.320 --> 00:11:41.000
of attention on Patrick mc henry and
Representative Maxine Waters. While Maxine Waters didn't

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00:11:41.039 --> 00:11:46.200
vote in support of bipartisan stable coin
in twenty twenty three, she is still

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heavily involved and suggested to Bloomberg that
a deal between the two leads is imminent.

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There have been reports that they are
engaging Senator Chuck Schumer. This is

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important because in a Congress in constant
gridlock, the senior Democrat senator has proven

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to move things along. There is
also the Lumbus Jillibrand stable coin bill,

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which has several differences versus the Houses. Then there's the problem of legislative vehicle.

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Congress doesn't have much time left to
move bills, so they lump many

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together to save time. However,
some of the bills suggested as vehicles or

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to be paired with a potential stable
coin bill also carried their own political baggage.

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So folks, there seems to be
some high probability here that the stable

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coin bill could make it through.
It's not one hundred percent, of course,

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right they're engaging with Senators Chuck Schumer, so that's a good sign as

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far as getting bills through. So
we'll see, but you know, it's

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not very likely. My gut tells
me they're not getting anything through this year

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just because of the election, but
I think definitely next year. But then

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again, it could be they make
it halfway in a sense that it gets

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out of the House, but then
it still has to go to the Senate,

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and then of course it has to
go to the President. So hopefully

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they can get it out of the
House. That will be a big win

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and a big step that we've gotten
that far in the history of the crypto

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industry. So if you can get
it at the House and then send it

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over to to send it guys,
I think that would be a big win.

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It will give us a lot of
momentum as we head into next year.

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So let's see, call up your
representatives, email twitet, do what

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you got to do to dram up
as much noise, guys. But if

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we can get stable coin regulation out, that would be very bullish for the

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market. Even if we don't get
market structure, it will just set the

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tone that things are progressing. And
once you get stable coined through, I

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think it'll be easy to get the
market structure through as well. So fingers

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00:13:41.399 --> 00:13:46.200
crossed, folks. I'm optimistic,
but more so for next year. Well,

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folks. That's the news friendly reminder. My book Rethinking Crypto, The

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Crash of FTX and the Rise of
Safer, Stronger Digital Assets is live on

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Amazon in digital and paperback format.
Please grab a copy and support the podcast.

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Give it as a gift to someone
who's still on the fence about crypto

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and wants to learn more. Guys, this book covers everything the regulatory battle

196
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is the Big twin etf rays why
FTX and samback and freed was not a

197
00:14:13.720 --> 00:14:18.559
crypto issue but more of a failure
of the regulators, a bad actor like

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00:14:18.600 --> 00:14:22.279
Bernie Madoff who showed up in the
crypto industry, and I talk about the

199
00:14:22.279 --> 00:14:28.000
future of cryptot toganization and FTCBDCS and
much more. Folks, those of you

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00:14:28.039 --> 00:14:30.960
who are in the Tri State area
around New York City, I have my

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book signing event tomorrow, April thirty, at six thirty pm. It will

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be in the Financial District, right
across the street from the Wall Street Bull.

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In fact, the building is like
literally in front of the Wall Street

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Bull. So stop by, come
get a signed copy of the book,

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come hang out and grab some food
as well. Guys. Links will be

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in the description for you to RSVP
check it out. I hope you all

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can make it out. Those of
you who are in the area, of

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course, and don't forget to grab
a copy of the book. Guys,

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it really helps to support me in
the podcast get the message of crypto out

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there. Thank you all for your
support. I appreciate you all, and

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I'll talk to you all later