WEBVTT

1
00:00:00.280 --> 00:00:03.799
<v Speaker 1>The SEC launches Project Crypto, which is very bullish for

2
00:00:03.839 --> 00:00:07.679
<v Speaker 1>the market, as chairman Paul Atkins says, crypto assets are

3
00:00:07.719 --> 00:00:10.480
<v Speaker 1>not securities. I'll give you all the details there. And

4
00:00:10.640 --> 00:00:14.560
<v Speaker 1>Jamie Diamond JP Morgan CEO has capitulated, saying he loves

5
00:00:14.560 --> 00:00:19.199
<v Speaker 1>stable coins and blockchain and Visa is integrating more blockchains

6
00:00:19.199 --> 00:00:21.480
<v Speaker 1>than stable coins. This is big. I'll give you all

7
00:00:21.480 --> 00:00:29.120
<v Speaker 1>the details. Let's get into it. Hey, everybody, welcome into

8
00:00:29.199 --> 00:00:33.240
<v Speaker 1>the Thinking Crypto Podcasts. You're home for cryptocurrency news and interviews.

9
00:00:33.320 --> 00:00:35.799
<v Speaker 1>I'm your host, Tony Edward. On your way in. Please

10
00:00:35.799 --> 00:00:38.079
<v Speaker 1>sit that subscribe button as well as the thumbs up

11
00:00:38.079 --> 00:00:40.479
<v Speaker 1>button and leave a comment below. If you're listening on

12
00:00:40.520 --> 00:00:43.600
<v Speaker 1>a podcast platform such as Spotify or Apple, please leave

13
00:00:43.640 --> 00:00:46.840
<v Speaker 1>a five star rating and review. Folks. Right now bitcoin

14
00:00:46.960 --> 00:00:49.880
<v Speaker 1>is correcting. It is once again indy one hundred and

15
00:00:49.920 --> 00:00:53.159
<v Speaker 1>fifteen thousand dollars price range. And it's what we've been

16
00:00:53.240 --> 00:00:56.119
<v Speaker 1>talking about. We could see the additional pullback before the

17
00:00:56.159 --> 00:00:58.240
<v Speaker 1>pump to new highs, which I believe is going to

18
00:00:58.280 --> 00:01:00.880
<v Speaker 1>happen in August. And what I've been saying, you know,

19
00:01:00.920 --> 00:01:03.640
<v Speaker 1>I should have followed my gut with the RSI because

20
00:01:03.920 --> 00:01:06.359
<v Speaker 1>the RSI was in the overbod zone, and I kept

21
00:01:06.400 --> 00:01:09.439
<v Speaker 1>thinking maybe we bounced them there. But the RSI is

22
00:01:09.519 --> 00:01:12.439
<v Speaker 1>playing out perfectly to a t. You're in the overbought

23
00:01:12.640 --> 00:01:14.840
<v Speaker 1>That means you got to pull back, have a correction,

24
00:01:15.239 --> 00:01:17.760
<v Speaker 1>and then get to the near over soul zone. It

25
00:01:17.799 --> 00:01:19.959
<v Speaker 1>doesn't mean it has to go through the over soul zone.

26
00:01:20.000 --> 00:01:22.959
<v Speaker 1>For example, the rally in late May into June where

27
00:01:22.959 --> 00:01:24.799
<v Speaker 1>Bitcoin went to a new high of one hundred and

28
00:01:24.840 --> 00:01:28.280
<v Speaker 1>twelve thousand, it hit the overbod zone, pullback, and then

29
00:01:28.480 --> 00:01:31.200
<v Speaker 1>we consolidated and then it broke out to new highs

30
00:01:31.200 --> 00:01:33.719
<v Speaker 1>of one hundred and twenty three thousand dollars. So the

31
00:01:33.760 --> 00:01:35.519
<v Speaker 1>same thing is playing out on the charts. Guys. The

32
00:01:35.640 --> 00:01:38.840
<v Speaker 1>chart is showing everything here. And as we've been highlighting,

33
00:01:39.239 --> 00:01:41.920
<v Speaker 1>we also have all coins in the overbod zone like

34
00:01:42.159 --> 00:01:46.040
<v Speaker 1>XRP and e Theorem, which really rallied very strong, and

35
00:01:46.280 --> 00:01:48.920
<v Speaker 1>they're seeing their pullback. So once again we don't have

36
00:01:49.000 --> 00:01:50.599
<v Speaker 1>to go through the over soul zone. I think we

37
00:01:50.640 --> 00:01:53.439
<v Speaker 1>can have a pullback and then bounce, but let's see

38
00:01:53.439 --> 00:01:57.120
<v Speaker 1>what happens. But over four hundred million dollars liquidated in

39
00:01:57.159 --> 00:01:59.879
<v Speaker 1>the crypto market over the past four hours, so it

40
00:02:00.159 --> 00:02:03.680
<v Speaker 1>business as usual, right. Market cycles from oversould to overbought,

41
00:02:03.719 --> 00:02:06.680
<v Speaker 1>to oversold to overbought. This is just how it's playing out.

42
00:02:06.719 --> 00:02:10.120
<v Speaker 1>From the higher timeframe of the weekly chart, Bitcoin still

43
00:02:10.159 --> 00:02:13.680
<v Speaker 1>on track. Nothing bearish here, the bulls are still in control.

44
00:02:13.759 --> 00:02:17.400
<v Speaker 1>From the weekly macd it's still in the green, so

45
00:02:17.439 --> 00:02:20.240
<v Speaker 1>I expect us to keep going higher in August unless

46
00:02:20.240 --> 00:02:23.400
<v Speaker 1>there's some black swan event, right that can change everything.

47
00:02:23.879 --> 00:02:26.479
<v Speaker 1>In addition to stock market is over sold, it is

48
00:02:26.560 --> 00:02:31.360
<v Speaker 1>also pulling back, so we're seeing overall the markets were overheated,

49
00:02:31.719 --> 00:02:34.599
<v Speaker 1>the RSI showing us that and we're pulling back here.

50
00:02:34.759 --> 00:02:37.319
<v Speaker 1>And then the inverse correlation to this is the dollar.

51
00:02:37.400 --> 00:02:40.039
<v Speaker 1>The DXY is pumping right now. But one thing to

52
00:02:40.400 --> 00:02:43.800
<v Speaker 1>note on the DXY, it is approaching the overbought zone

53
00:02:43.840 --> 00:02:48.120
<v Speaker 1>on its respective RSI, so you see the inverse correlation here.

54
00:02:48.159 --> 00:02:51.120
<v Speaker 1>So just give it time, folks. Maybe another week or

55
00:02:51.199 --> 00:02:53.479
<v Speaker 1>so we bottom out and then we start moving maybe

56
00:02:53.599 --> 00:02:55.800
<v Speaker 1>a week and a half. Right, We'll just have to

57
00:02:55.800 --> 00:02:58.400
<v Speaker 1>be patient and let the market do its thing. But

58
00:02:58.680 --> 00:03:01.879
<v Speaker 1>the macro thesis is still and play. Global liquidity continues

59
00:03:01.919 --> 00:03:05.039
<v Speaker 1>to rise and bitcoin and risk assets have been following,

60
00:03:05.080 --> 00:03:07.800
<v Speaker 1>so be patient there, folks, This may be a time

61
00:03:07.879 --> 00:03:09.680
<v Speaker 1>not to look at the price because it's going to

62
00:03:09.800 --> 00:03:12.080
<v Speaker 1>keep going down until it hits the support level and

63
00:03:12.120 --> 00:03:16.400
<v Speaker 1>then bounce. So these additional CME gaps, I think below

64
00:03:16.400 --> 00:03:19.039
<v Speaker 1>one hundred and fifteen, it looks like they're going to

65
00:03:19.080 --> 00:03:22.120
<v Speaker 1>get filled. And that's fine, right, all of those things

66
00:03:22.120 --> 00:03:25.919
<v Speaker 1>getting filled, the market cooling down, sentiment resetting, and then

67
00:03:26.000 --> 00:03:30.120
<v Speaker 1>we keep going. But nevertheless, we got some very bullish news.

68
00:03:30.159 --> 00:03:33.800
<v Speaker 1>Look at this SEC chair Paul Atkins, most crypto assets

69
00:03:33.879 --> 00:03:38.319
<v Speaker 1>are not securities. They released a bowl new vision called

70
00:03:38.360 --> 00:03:43.479
<v Speaker 1>Project Crypto, so this is amazing. SEC Chairman Paul Atkins

71
00:03:43.479 --> 00:03:47.759
<v Speaker 1>announced Project Crypto to modernize securities rules for crypto assets.

72
00:03:48.080 --> 00:03:52.800
<v Speaker 1>The initiative aims to create clear guidelines for crypto acid distributions, custody,

73
00:03:52.800 --> 00:03:57.080
<v Speaker 1>and trading. Atkins emphasize that most crypto assets are not securities,

74
00:03:57.280 --> 00:04:01.560
<v Speaker 1>challenging previous SEC views. I know, Gary Gainster's punching air

75
00:04:01.639 --> 00:04:04.960
<v Speaker 1>right now, looking like a clown, right. Eleanor Terrett gave

76
00:04:05.039 --> 00:04:07.439
<v Speaker 1>some more details. It looks like she was there actually,

77
00:04:07.879 --> 00:04:10.840
<v Speaker 1>And under the new Project Crypto, the SEC will draft

78
00:04:10.879 --> 00:04:14.759
<v Speaker 1>new rules for crypto asset distributions icos air drops and

79
00:04:14.840 --> 00:04:19.639
<v Speaker 1>much more, clarify when tokens our securities versus commodities developed

80
00:04:19.680 --> 00:04:23.079
<v Speaker 1>tailored disclosures in safe harbors. So one of the things

81
00:04:23.120 --> 00:04:24.959
<v Speaker 1>I was mentioning to you guys, why I think the

82
00:04:25.000 --> 00:04:27.519
<v Speaker 1>SEC has been delaying the et aps and the spot

83
00:04:27.560 --> 00:04:30.480
<v Speaker 1>ets for SALON and XRP is they need to have

84
00:04:30.560 --> 00:04:33.600
<v Speaker 1>some sort of clarity out there. They haven't defined a

85
00:04:33.639 --> 00:04:36.000
<v Speaker 1>lot of things. And I thought it was going to

86
00:04:36.040 --> 00:04:38.639
<v Speaker 1>be the Clarity Act, the Market Structure Bill that was

87
00:04:38.680 --> 00:04:41.839
<v Speaker 1>going to be the issue, or it was the issue,

88
00:04:42.000 --> 00:04:43.959
<v Speaker 1>But it seems like the SEC wants to get their

89
00:04:44.000 --> 00:04:46.240
<v Speaker 1>own set of rules out and I'm sure that's going

90
00:04:46.279 --> 00:04:49.879
<v Speaker 1>to dovetail with the Market Structure Bill. So this is

91
00:04:50.040 --> 00:04:53.040
<v Speaker 1>our answer. You know, why have we not seen approval?

92
00:04:53.079 --> 00:04:56.879
<v Speaker 1>Why the delays and the index ets which included SOLON

93
00:04:56.959 --> 00:04:59.759
<v Speaker 1>and XRP and much more. Here's the answer. So AT

94
00:04:59.800 --> 00:05:03.920
<v Speaker 1>can confirmed support for tokenization of stocks, bonds, and other

95
00:05:04.040 --> 00:05:08.399
<v Speaker 1>assets and promise relief for firms seeking to issue tokenized

96
00:05:08.399 --> 00:05:11.519
<v Speaker 1>securities in the United States. The speech also hit back

97
00:05:11.639 --> 00:05:15.480
<v Speaker 1>at prior SEC actions, including Operation Choke point two point

98
00:05:15.560 --> 00:05:18.759
<v Speaker 1>zero and SAB one two one, which he named as

99
00:05:18.879 --> 00:05:22.879
<v Speaker 1>barriers that drove crypto offshore, and of course Gary Ginster

100
00:05:23.000 --> 00:05:25.839
<v Speaker 1>was behind UH and Elizabeth Warren was behind all these things.

101
00:05:26.240 --> 00:05:30.120
<v Speaker 1>Atkins emphasized the right to self custody while also pledging

102
00:05:30.480 --> 00:05:35.000
<v Speaker 1>revised rules for registered custodians to handle crypto assets. He

103
00:05:35.079 --> 00:05:39.040
<v Speaker 1>also proposed a super app regulatory framework to allow a

104
00:05:39.079 --> 00:05:43.720
<v Speaker 1>single platform to offer crypto plus securities, trading, staking, lending,

105
00:05:43.759 --> 00:05:47.600
<v Speaker 1>and more, all done under one roof without needing dozens

106
00:05:47.639 --> 00:05:53.600
<v Speaker 1>of overlapping licenses from multiple regulators. Wow, this is amazing,

107
00:05:53.759 --> 00:05:57.920
<v Speaker 1>This is very bullish. Clarity is so important for more

108
00:05:57.959 --> 00:06:00.480
<v Speaker 1>capital to come in, for people to build, and to

109
00:06:00.560 --> 00:06:03.079
<v Speaker 1>allow us asset class to grow in the valuations and

110
00:06:03.120 --> 00:06:06.879
<v Speaker 1>the prices and much more. DeFi and on chain software

111
00:06:06.920 --> 00:06:11.120
<v Speaker 1>got special attention to. Atkins wants to distinguish code publishers

112
00:06:11.319 --> 00:06:15.519
<v Speaker 1>from intermediaries and create regulatory space for both decentralized and

113
00:06:15.560 --> 00:06:19.279
<v Speaker 1>centralized models. Love it and Innovation Exemption is also in

114
00:06:19.319 --> 00:06:22.199
<v Speaker 1>the works, which is meant to let startups launch quickly

115
00:06:22.279 --> 00:06:27.600
<v Speaker 1>with flexible compliance conditions as long as they prioritize investor protection.

116
00:06:27.800 --> 00:06:30.959
<v Speaker 1>That's really great too. Has the person had suggested that

117
00:06:31.000 --> 00:06:34.199
<v Speaker 1>the sandbox come in and develop and play, just register

118
00:06:34.319 --> 00:06:36.680
<v Speaker 1>with us, and we're not going to bother you. Just

119
00:06:36.720 --> 00:06:38.639
<v Speaker 1>make sure you're following the law and not doing harm

120
00:06:38.680 --> 00:06:41.800
<v Speaker 1>to investors. Right. Atkins made it clear the SEC will

121
00:06:41.839 --> 00:06:44.879
<v Speaker 1>no longer regulate crypto through enforcement alone. He called the

122
00:06:44.879 --> 00:06:48.680
<v Speaker 1>moment a generational opportunity to bring crypto back on shore.

123
00:06:49.120 --> 00:06:52.800
<v Speaker 1>I love it. This is progress, this is transparency, This

124
00:06:52.839 --> 00:06:55.120
<v Speaker 1>is what we need for this market to continue to grow.

125
00:06:55.199 --> 00:06:56.920
<v Speaker 1>So this is very, very bullish.

126
00:06:57.040 --> 00:06:57.160
<v Speaker 2>Now.

127
00:06:57.199 --> 00:06:59.160
<v Speaker 1>One of the things he said with regards to organization

128
00:06:59.319 --> 00:07:03.040
<v Speaker 1>is that many Wall Street and Silicon Valley companies are

129
00:07:03.079 --> 00:07:08.279
<v Speaker 1>lined up at our doors with requests to tokenize. Tokenization

130
00:07:08.439 --> 00:07:10.720
<v Speaker 1>is the future of markets, as Blarry Fink, Black Rock

131
00:07:10.839 --> 00:07:13.959
<v Speaker 1>CEO said, And they're looking to put all traditional assets

132
00:07:14.000 --> 00:07:16.160
<v Speaker 1>on the blockchain, folks, and the SEC is looking to

133
00:07:16.600 --> 00:07:21.040
<v Speaker 1>accommodate from that front. And it's amazing. It's amazing what's happening.

134
00:07:21.040 --> 00:07:23.959
<v Speaker 1>A complete one eighty at the SEC. So it looks

135
00:07:24.000 --> 00:07:26.279
<v Speaker 1>like we're going to have these things in place, and

136
00:07:26.319 --> 00:07:28.560
<v Speaker 1>then the SEC is going to approve all those ETFs

137
00:07:28.560 --> 00:07:31.759
<v Speaker 1>and much more, and just just an amazing time to

138
00:07:31.800 --> 00:07:34.800
<v Speaker 1>be in this market, folks. So bullish, and as I've

139
00:07:34.800 --> 00:07:37.399
<v Speaker 1>been saying, I'm not only looking to take profitces in

140
00:07:37.439 --> 00:07:40.959
<v Speaker 1>this bullmarket, but in future bullmarkets, because there's going to

141
00:07:41.000 --> 00:07:43.120
<v Speaker 1>be a building phase and it usually happens in a

142
00:07:43.199 --> 00:07:46.279
<v Speaker 1>bear market, and folks are really going to hit the

143
00:07:46.319 --> 00:07:49.680
<v Speaker 1>ground running because these things are now coming into fruition,

144
00:07:50.079 --> 00:07:51.519
<v Speaker 1>so there's going to be a time for it to

145
00:07:51.560 --> 00:07:54.639
<v Speaker 1>be digested and put into action, and no one's going

146
00:07:54.680 --> 00:07:57.160
<v Speaker 1>to be able to build what they're looking to build overnight.

147
00:07:57.240 --> 00:07:59.639
<v Speaker 1>It's going to take you know, certainly years and things

148
00:07:59.680 --> 00:08:02.920
<v Speaker 1>like that, but having it in place is very bullish

149
00:08:02.920 --> 00:08:05.480
<v Speaker 1>in the market now, folks. Quick word from our sponsor

150
00:08:05.600 --> 00:08:08.279
<v Speaker 1>and that is I Trust Capital. They allow you to

151
00:08:08.480 --> 00:08:12.439
<v Speaker 1>safely invest in crypto. Not only safely invest, but also

152
00:08:12.879 --> 00:08:17.000
<v Speaker 1>custody your crypto with a bank setup. They use Coinbasis

153
00:08:17.120 --> 00:08:21.920
<v Speaker 1>Prime institutional custody service and I Trust Capital allows you

154
00:08:21.959 --> 00:08:25.319
<v Speaker 1>to set up a self directed IRA where you can

155
00:08:25.360 --> 00:08:28.040
<v Speaker 1>get some great tax benefits. You can roll over your

156
00:08:28.079 --> 00:08:30.639
<v Speaker 1>existing IRA or four to one K and you can

157
00:08:30.720 --> 00:08:34.120
<v Speaker 1>trade up to eighty plus cryptocurrencies and they have a

158
00:08:34.159 --> 00:08:38.960
<v Speaker 1>premium custody account. Once again is institutional bank grade, so

159
00:08:39.039 --> 00:08:41.600
<v Speaker 1>it's a really great place to story your crypto. I

160
00:08:41.639 --> 00:08:44.320
<v Speaker 1>will put this second on the list behind self custody.

161
00:08:44.360 --> 00:08:47.240
<v Speaker 1>Self custody being the number one, so there's huge tax

162
00:08:47.320 --> 00:08:49.720
<v Speaker 1>advantages here. You can buy in cell crypto twenty four

163
00:08:49.720 --> 00:08:52.840
<v Speaker 1>to seven. There's low costs and no monthly fee. I

164
00:08:52.879 --> 00:08:55.399
<v Speaker 1>have an account with them, and as I reported recently,

165
00:08:55.519 --> 00:08:59.679
<v Speaker 1>the President Trump's administration is looking to open up four

166
00:08:59.759 --> 00:09:02.279
<v Speaker 1>one case and retirem accounts to invest in cryptos. You

167
00:09:02.320 --> 00:09:04.879
<v Speaker 1>can get a head start here with I Trust Capital

168
00:09:04.919 --> 00:09:07.200
<v Speaker 1>and folks, if you use my link, you can get

169
00:09:07.200 --> 00:09:10.240
<v Speaker 1>one hundred dollars funding bonus. So the link will be

170
00:09:10.279 --> 00:09:12.399
<v Speaker 1>in a description. Check them out, folks. This is a

171
00:09:12.440 --> 00:09:15.600
<v Speaker 1>great option and way to invest in crypto and safely

172
00:09:15.639 --> 00:09:17.759
<v Speaker 1>custod of your crypto assets as well. So check out

173
00:09:17.799 --> 00:09:21.000
<v Speaker 1>I Trust Capital. All the links will be in a description. Now, folks,

174
00:09:21.080 --> 00:09:25.679
<v Speaker 1>this is bullish and just so significant. Jamie Diamond, CEO

175
00:09:25.720 --> 00:09:29.320
<v Speaker 1>of JP Morgan, has fully capitulated. Just yesterday we talked

176
00:09:29.320 --> 00:09:33.279
<v Speaker 1>about JP Morgan partnering with Coinbase to help onboard users

177
00:09:33.320 --> 00:09:38.000
<v Speaker 1>into crypto. We know that JP Morgan recently tokenized some

178
00:09:38.080 --> 00:09:41.240
<v Speaker 1>deposit tokens and things on base, which is the Ethereum

179
00:09:41.279 --> 00:09:45.200
<v Speaker 1>layer two control by Coinbase, and they're doing all types

180
00:09:45.240 --> 00:09:48.519
<v Speaker 1>of things. They're exploring crypto lending and much more. Despite

181
00:09:48.559 --> 00:09:51.080
<v Speaker 1>what Jamie has been saying for years, saying crypto and

182
00:09:51.120 --> 00:09:53.960
<v Speaker 1>bitcoins a scam. I'll fire anyone who touches this stuff.

183
00:09:54.000 --> 00:09:56.679
<v Speaker 1>It's a ponzi. You'll lose your money. He said, almost

184
00:09:56.720 --> 00:10:01.000
<v Speaker 1>every negative phrase or were about crypto under the sun

185
00:10:01.440 --> 00:10:04.759
<v Speaker 1>over the years. But he's bending the knee. He has

186
00:10:04.840 --> 00:10:07.360
<v Speaker 1>to bend the knee and kiss the ring because crypto

187
00:10:07.440 --> 00:10:10.639
<v Speaker 1>is here to stay. And here's an interview he did

188
00:10:11.000 --> 00:10:14.159
<v Speaker 1>with the folks at CNBC talking about the partnership. Let

189
00:10:14.240 --> 00:10:14.600
<v Speaker 1>me play the.

190
00:10:14.600 --> 00:10:17.679
<v Speaker 2>Clip for you, merging. We've seen lately emerging of kind

191
00:10:17.679 --> 00:10:21.200
<v Speaker 2>of crypto and JP Morgan and traditional finance in recent months,

192
00:10:21.200 --> 00:10:23.799
<v Speaker 2>whether it's the coinbased partnership that you announced yesterday where

193
00:10:23.879 --> 00:10:27.120
<v Speaker 2>Chase customers can use credit cards to fund coinbase accounts,

194
00:10:27.159 --> 00:10:29.879
<v Speaker 2>or Investor Day where you said clients can can buy

195
00:10:29.879 --> 00:10:33.279
<v Speaker 2>bitcoin although you cautioned against it, or the stable coin

196
00:10:33.519 --> 00:10:36.960
<v Speaker 2>like token jp MD. How prevalent do you see crypto

197
00:10:37.159 --> 00:10:40.639
<v Speaker 2>in traditional finance and do you foresee risks as these

198
00:10:40.639 --> 00:10:42.360
<v Speaker 2>two worlds do become more intertwined.

199
00:10:42.639 --> 00:10:45.000
<v Speaker 3>Yeah, Well, first all, there's never been a new financial

200
00:10:45.039 --> 00:10:47.639
<v Speaker 3>product that didn't tel risks, so that obviously is gonna

201
00:10:47.639 --> 00:10:49.559
<v Speaker 3>be risks, and they haven't written all the laws yet,

202
00:10:49.879 --> 00:10:51.720
<v Speaker 3>like you know, think of the think of the rules

203
00:10:51.759 --> 00:10:54.240
<v Speaker 3>around it, like you know AML and BSA and KYC

204
00:10:54.399 --> 00:10:56.879
<v Speaker 3>and disclosures, and you know, when they say stable coin,

205
00:10:56.919 --> 00:10:59.080
<v Speaker 3>which we're going to have, I'm not against stable coins

206
00:10:59.080 --> 00:11:01.440
<v Speaker 3>like a mutual fund. Mutual funds have rules. Well, the

207
00:11:01.480 --> 00:11:04.000
<v Speaker 3>rules is going to be around stable coins, and I

208
00:11:04.000 --> 00:11:06.320
<v Speaker 3>think there are really So I'm a believer stable coin,

209
00:11:06.440 --> 00:11:10.000
<v Speaker 3>a believer in blockchain, not personally a believer in bitcoin itself.

210
00:11:10.639 --> 00:11:11.679
<v Speaker 3>But you're the customer.

211
00:11:11.759 --> 00:11:11.879
<v Speaker 1>You know.

212
00:11:11.919 --> 00:11:14.200
<v Speaker 3>I don't like to tell customers what they can and

213
00:11:14.240 --> 00:11:16.600
<v Speaker 3>can't do with their money. That is a whole different

214
00:11:16.679 --> 00:11:19.320
<v Speaker 3>issue for us, and so we're going to accommodate those things.

215
00:11:19.399 --> 00:11:21.600
<v Speaker 3>You mentioned that we did a deal with coin base,

216
00:11:21.639 --> 00:11:24.200
<v Speaker 3>so you can now move money from Chase to coin Base.

217
00:11:24.240 --> 00:11:26.559
<v Speaker 3>We're gonna make it easier for people. They've agreed how

218
00:11:26.559 --> 00:11:28.759
<v Speaker 3>to use their APIs, which we think is a good thing.

219
00:11:29.519 --> 00:11:32.639
<v Speaker 3>So you know, we'll be in it, and we'll see

220
00:11:32.360 --> 00:11:35.679
<v Speaker 3>it's a little bit of a solution looking for a problem.

221
00:11:35.759 --> 00:11:37.919
<v Speaker 3>Because if I'm going to send you we already have

222
00:11:37.919 --> 00:11:40.480
<v Speaker 3>the jpmor and coin. We already moved money twenty four

223
00:11:40.519 --> 00:11:44.159
<v Speaker 3>to seven. We moved ten tillion dollars a day quite effectively, efficiently, safely,

224
00:11:44.519 --> 00:11:46.960
<v Speaker 3>with all the cyber protection and stuff like that. But

225
00:11:47.000 --> 00:11:48.919
<v Speaker 3>if I'm going to send you a stable coin, you're

226
00:11:48.919 --> 00:11:50.480
<v Speaker 3>gonna say to me one point, well, I don't want

227
00:11:50.480 --> 00:11:53.039
<v Speaker 3>your mutual fund. Just send me cash and they'll invest

228
00:11:53.080 --> 00:11:55.360
<v Speaker 3>the what I want. But there are things that stable

229
00:11:55.399 --> 00:11:57.960
<v Speaker 3>coins maybe can do that you know, traditional cash can't,

230
00:11:58.039 --> 00:12:00.840
<v Speaker 3>like is programmable. I might be a saying that stable coin,

231
00:12:00.879 --> 00:12:02.480
<v Speaker 3>then you can send it to ten different vendors you

232
00:12:02.519 --> 00:12:04.879
<v Speaker 3>want to pay in a regular basis or something like that.

233
00:12:04.960 --> 00:12:07.200
<v Speaker 3>So we'll be in it and we'll use it. And

234
00:12:07.240 --> 00:12:09.879
<v Speaker 3>again if the customers want to use it and how

235
00:12:09.879 --> 00:12:12.039
<v Speaker 3>they use it and it's used properly, will be doing it.

236
00:12:12.200 --> 00:12:14.519
<v Speaker 3>It's what the customer wants, it's not what JP Morgan

237
00:12:14.600 --> 00:12:15.279
<v Speaker 3>personally wants.

238
00:12:15.399 --> 00:12:18.440
<v Speaker 2>Sounds like that's the case both private credit and crypto.

239
00:12:19.879 --> 00:12:23.039
<v Speaker 1>There you have it, folks, very different tone right, not

240
00:12:23.120 --> 00:12:27.159
<v Speaker 1>as aggressive, don't talk about it, says fraud, it's a scam. No, yeah,

241
00:12:27.200 --> 00:12:30.200
<v Speaker 1>we'll use it. You know what customers want, We're going

242
00:12:30.240 --> 00:12:32.320
<v Speaker 1>to use it and you know you can use jpm

243
00:12:32.440 --> 00:12:35.399
<v Speaker 1>coin as well, right, But this is the game, folks.

244
00:12:35.600 --> 00:12:37.519
<v Speaker 1>You know, if you've been a follower of this podcast

245
00:12:37.519 --> 00:12:40.679
<v Speaker 1>for years, we've shown the cards that Jamie's been playing.

246
00:12:40.960 --> 00:12:43.200
<v Speaker 1>He's been doing the smoke and mirrors move telling you

247
00:12:43.240 --> 00:12:45.559
<v Speaker 1>it's all a scam while his bank has been building.

248
00:12:46.159 --> 00:12:49.080
<v Speaker 1>Going back to twenty eighteen, they launched jpm coin, but

249
00:12:49.120 --> 00:12:51.159
<v Speaker 1>it was on a private permission chain and no one

250
00:12:51.320 --> 00:12:53.519
<v Speaker 1>was going to use that. It's a wall garden. But

251
00:12:53.600 --> 00:12:55.759
<v Speaker 1>what we saw is that public blockchains is the way

252
00:12:55.840 --> 00:12:58.320
<v Speaker 1>public stable coins that are out there in the open market.

253
00:12:58.639 --> 00:13:01.559
<v Speaker 1>And now JP Morgan's capitulating and they're going to support

254
00:13:01.559 --> 00:13:04.879
<v Speaker 1>crypto in different ways, partner with coinbase. So folks, this

255
00:13:04.879 --> 00:13:06.759
<v Speaker 1>should make you happy. They should put a smile in

256
00:13:06.799 --> 00:13:11.519
<v Speaker 1>your face. The king of the Fiat Empire capitulating, bending

257
00:13:11.600 --> 00:13:14.480
<v Speaker 1>the knee. It's amazing. And many of you front ran

258
00:13:15.000 --> 00:13:17.879
<v Speaker 1>Jamie Diamond and these banks because they couldn't touch it.

259
00:13:18.519 --> 00:13:21.799
<v Speaker 1>Legislation didn't allow him to do so. And as I've

260
00:13:21.840 --> 00:13:25.440
<v Speaker 1>been saying, he and the banking industry lobbied Elizabeth Warn

261
00:13:25.519 --> 00:13:29.080
<v Speaker 1>and Gary Genser to go after unlawfully in many ways,

262
00:13:29.080 --> 00:13:32.440
<v Speaker 1>the crypto industry. That was what was going on. Elizabeth

263
00:13:32.440 --> 00:13:35.279
<v Speaker 1>Warren as an old grandma, and Gary Genser, who loved

264
00:13:35.279 --> 00:13:37.720
<v Speaker 1>the crypto when he was teaching it at MIT, didn't

265
00:13:37.720 --> 00:13:40.240
<v Speaker 1>all of a sudden, you know, a turn on crypto

266
00:13:40.279 --> 00:13:42.639
<v Speaker 1>and were super angry and wanted to destroy it. That

267
00:13:42.639 --> 00:13:45.320
<v Speaker 1>didn't come from them. That came from the orders, came

268
00:13:45.399 --> 00:13:48.519
<v Speaker 1>down from the top and from Jamie and much more. Folks.

269
00:13:48.679 --> 00:13:50.840
<v Speaker 1>I've heard about this in DC, I've spoken to people

270
00:13:50.919 --> 00:13:54.600
<v Speaker 1>off the record and much more so. It's an amazing day.

271
00:13:54.759 --> 00:13:56.919
<v Speaker 1>I hope you see what's happening here. This is like

272
00:13:56.960 --> 00:14:01.320
<v Speaker 1>the final boss capitulating here. And despite him still not

273
00:14:01.679 --> 00:14:02.879
<v Speaker 1>you know, he's not going to come out and say

274
00:14:02.919 --> 00:14:05.519
<v Speaker 1>this is the greatest thing ever since slice bread. He's

275
00:14:05.519 --> 00:14:08.200
<v Speaker 1>going to say, yeah, we're going to use it, you know, yeah,

276
00:14:08.240 --> 00:14:11.000
<v Speaker 1>you know, blah blah blah. But it's a very different

277
00:14:11.039 --> 00:14:14.480
<v Speaker 1>tone from what we've seen over the years. So incredible,

278
00:14:14.519 --> 00:14:19.519
<v Speaker 1>incredible stuff here now, folks. Speaking of capitulation, Visa expands

279
00:14:19.559 --> 00:14:25.480
<v Speaker 1>stable coin offerings amid rising competition from institutions, So the banks,

280
00:14:25.639 --> 00:14:28.480
<v Speaker 1>the stock markets, at credit card companies, at payment companies,

281
00:14:28.840 --> 00:14:33.320
<v Speaker 1>they're all bending the knee, adopting crypto, offering it from

282
00:14:33.360 --> 00:14:37.279
<v Speaker 1>a trading standpoint, custody, they're tokenizing, they're including stable coins,

283
00:14:37.360 --> 00:14:41.320
<v Speaker 1>launching their own stable coins. So payment company Visa expanded

284
00:14:41.440 --> 00:14:45.279
<v Speaker 1>stable coin offerings on its settlement platform by adding support

285
00:14:45.320 --> 00:14:49.240
<v Speaker 1>for the Global Dollar USDG. That's the consortium guys, that

286
00:14:49.320 --> 00:14:52.200
<v Speaker 1>includes Robin Hood and a bunch of other companies. They

287
00:14:52.240 --> 00:14:57.360
<v Speaker 1>also added support for paypals PYUSD and euro Coin eu

288
00:14:57.480 --> 00:15:02.159
<v Speaker 1>RC and two new blockchain networks, so Stellar Lumens and Avalanche,

289
00:15:02.159 --> 00:15:05.559
<v Speaker 1>which the native token is avax. Very bullish, this is

290
00:15:05.600 --> 00:15:09.039
<v Speaker 1>a credit card company. Do you see what's happening? And folks.

291
00:15:09.080 --> 00:15:12.799
<v Speaker 1>Earlier today I published my interview with MasterCards executive vice

292
00:15:12.840 --> 00:15:16.039
<v Speaker 1>president of crypto and blockchain, and if you want to

293
00:15:16.039 --> 00:15:19.320
<v Speaker 1>get an idea of the thought process and the methodology

294
00:15:19.320 --> 00:15:22.279
<v Speaker 1>and what they're thinking, watch this interview. Folks. It's not

295
00:15:22.320 --> 00:15:25.240
<v Speaker 1>for the views, it's for the education. This is the

296
00:15:25.279 --> 00:15:31.799
<v Speaker 1>executive vice president of blockchaining crypto at MasterCard, visas competitor obviously,

297
00:15:32.360 --> 00:15:36.159
<v Speaker 1>and they're all building. They're all building with this technology

298
00:15:36.159 --> 00:15:39.000
<v Speaker 1>and adopting it in different ways. So check out ot

299
00:15:39.120 --> 00:15:42.799
<v Speaker 1>interview and folks, it's what we've been talking about for years,

300
00:15:42.840 --> 00:15:45.879
<v Speaker 1>they will all capitulate, they will all get in. I mean,

301
00:15:46.000 --> 00:15:48.919
<v Speaker 1>just look at what's happening. Again, if you're not bullish,

302
00:15:49.000 --> 00:15:50.960
<v Speaker 1>I don't know what you're looking at. Maybe you're too

303
00:15:51.519 --> 00:15:54.240
<v Speaker 1>caught up in the price and the momentary pullbacks and

304
00:15:54.320 --> 00:15:57.080
<v Speaker 1>so forth. You don't see the broader market. You don't

305
00:15:57.159 --> 00:16:01.360
<v Speaker 1>understand the s curve adoption and how the infrastructure needs

306
00:16:01.360 --> 00:16:03.799
<v Speaker 1>to be built by some of these legacy firms to

307
00:16:03.960 --> 00:16:07.039
<v Speaker 1>onboard more users, and that drives the valuation of the

308
00:16:07.080 --> 00:16:10.360
<v Speaker 1>blockchain networks up as there's more utility on them, and

309
00:16:10.399 --> 00:16:13.759
<v Speaker 1>of course their native tokens will go up in value

310
00:16:13.799 --> 00:16:18.200
<v Speaker 1>as well. So this is incredible adoption news. Now look

311
00:16:18.200 --> 00:16:22.759
<v Speaker 1>at this. Coinbase increases is Bitcoin holdings, plans tokenized stocks

312
00:16:22.799 --> 00:16:26.639
<v Speaker 1>in US, so the tokenization wars are heating up here

313
00:16:26.679 --> 00:16:29.759
<v Speaker 1>in addition to the stable coin wars. So Coinbase added

314
00:16:29.799 --> 00:16:32.759
<v Speaker 1>two five hundred and nine bitcoin in Q two and

315
00:16:32.840 --> 00:16:35.360
<v Speaker 1>it says it's buying more, so they're essentially holding this

316
00:16:35.440 --> 00:16:38.919
<v Speaker 1>on their balance sheet. They also plan to launch tokenized

317
00:16:39.000 --> 00:16:41.960
<v Speaker 1>US stocks and prediction markets soon, so of course on

318
00:16:42.000 --> 00:16:44.360
<v Speaker 1>the tokenied stock side, they're going to be competing with

319
00:16:44.440 --> 00:16:48.720
<v Speaker 1>Kraken and Robinhood and many others, and they're launching prediction markets,

320
00:16:48.759 --> 00:16:52.039
<v Speaker 1>which is going to compete with polymarkets. So it's incredible

321
00:16:52.159 --> 00:16:55.279
<v Speaker 1>what's happening. And I think Coinbase they know that competition's

322
00:16:55.320 --> 00:16:58.120
<v Speaker 1>heating up, so they are ramping up and it's beautiful

323
00:16:58.159 --> 00:17:00.480
<v Speaker 1>to see. It's amazing to watch all these firms in

324
00:17:00.519 --> 00:17:03.039
<v Speaker 1>this race, you know, trying to get as much market

325
00:17:03.039 --> 00:17:05.240
<v Speaker 1>share as possible, and that's very bullish for us who

326
00:17:05.319 --> 00:17:10.240
<v Speaker 1>are holding the tokens because they're building on blockchain rails. Now.

327
00:17:10.279 --> 00:17:13.119
<v Speaker 1>They had their earnings call and their earnings were amazing.

328
00:17:13.160 --> 00:17:15.880
<v Speaker 1>It was over a billion dollars in revenue. But some

329
00:17:15.920 --> 00:17:18.880
<v Speaker 1>of the other things that Brian Armstrong's CE of Coinbase

330
00:17:19.359 --> 00:17:22.640
<v Speaker 1>mentioned that they're going to do a decentralized exchange integration

331
00:17:23.119 --> 00:17:29.279
<v Speaker 1>inside the Coinbase app, so offering that decentralized exchange aspect,

332
00:17:29.640 --> 00:17:31.480
<v Speaker 1>which is really great. I love that. I love that

333
00:17:31.480 --> 00:17:34.839
<v Speaker 1>they're doing that. One of the coinbase folks highlighted that

334
00:17:34.839 --> 00:17:38.039
<v Speaker 1>that means millions of tokens, no more waiting on list things,

335
00:17:38.079 --> 00:17:42.519
<v Speaker 1>every Base project, instantly tradeable fully on chain access for everyone.

336
00:17:42.640 --> 00:17:45.279
<v Speaker 1>So this is a great move by Coinbase. I really

337
00:17:45.359 --> 00:17:49.119
<v Speaker 1>like what they're doing here and man, so bullish, guys,

338
00:17:49.319 --> 00:17:52.440
<v Speaker 1>so bullish. Wait till the market starts pricing all of

339
00:17:52.480 --> 00:17:54.880
<v Speaker 1>this in. You know, once we come out of this

340
00:17:54.960 --> 00:17:57.400
<v Speaker 1>corrective phase, I guys that we're going to pullback from

341
00:17:57.400 --> 00:18:00.839
<v Speaker 1>the overbought zone. You know, are going to get really

342
00:18:00.880 --> 00:18:04.160
<v Speaker 1>euphoric because all these news items are going to culminate

343
00:18:04.200 --> 00:18:08.079
<v Speaker 1>to higher prices. Final item here, guys, Today I interviewed

344
00:18:08.160 --> 00:18:11.599
<v Speaker 1>Robin Hood's CEO, vlat Tenev. We did an in person

345
00:18:11.680 --> 00:18:14.640
<v Speaker 1>interview at my studio in New York City and it

346
00:18:14.720 --> 00:18:17.279
<v Speaker 1>was a great one. We talk about all of Robinhood's

347
00:18:17.279 --> 00:18:21.200
<v Speaker 1>crypto initiatives and the future of markets and what stable

348
00:18:21.200 --> 00:18:23.519
<v Speaker 1>coins and blockchain and crypto all, how does that all

349
00:18:23.559 --> 00:18:27.119
<v Speaker 1>fit into what's coming. So, folks, that interview is going

350
00:18:27.160 --> 00:18:28.960
<v Speaker 1>to be published on Monday. You don't want to miss it,

351
00:18:29.279 --> 00:18:32.599
<v Speaker 1>so make sure you got the notification bell enable your subscribe.

352
00:18:33.039 --> 00:18:35.759
<v Speaker 1>I know most of you don't really watch interviews, but

353
00:18:36.200 --> 00:18:38.480
<v Speaker 1>these are interviews that are packed with a lot of

354
00:18:38.519 --> 00:18:41.440
<v Speaker 1>knowledge and help you understand the markets better. So check

355
00:18:41.480 --> 00:18:44.799
<v Speaker 1>them out, folks. It's knowledge is power, right, So definitely

356
00:18:44.839 --> 00:18:48.119
<v Speaker 1>definitely be sure you watch the MasterCard interview and as

357
00:18:48.119 --> 00:18:50.799
<v Speaker 1>well as this one. That's coming up on Monday, Folks.

358
00:18:51.000 --> 00:18:52.880
<v Speaker 1>Great way you can support me in the podcast is

359
00:18:52.880 --> 00:18:55.559
<v Speaker 1>by subscribing to my free email newsletter. It's one hundred

360
00:18:55.559 --> 00:18:58.279
<v Speaker 1>percent free. Link will be in the description. Check out

361
00:18:58.319 --> 00:19:00.960
<v Speaker 1>my book on Amazon. It's available in paperback, in digital,

362
00:19:01.319 --> 00:19:04.240
<v Speaker 1>and my course at Mycrypto course dot com. This is

363
00:19:04.279 --> 00:19:07.680
<v Speaker 1>a comprehensive course that teaches you every aspect of crypto.

364
00:19:08.279 --> 00:19:12.079
<v Speaker 1>Check it out. You're gonna hear from founders, CEOs, institutional investors,

365
00:19:12.079 --> 00:19:15.640
<v Speaker 1>and much more. It's packed with videos, text write ups,

366
00:19:15.720 --> 00:19:19.359
<v Speaker 1>downloadable materials, and much more. So go to Mycrypto course

367
00:19:19.400 --> 00:19:22.000
<v Speaker 1>dot com. All of the links will be in the description. Folks,

368
00:19:22.000 --> 00:19:24.200
<v Speaker 1>thank you so much for watching and listening. I appreciate

369
00:19:24.240 --> 00:19:27.000
<v Speaker 1>you all, and I'll talk to you all later.