WEBVTT

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<v Speaker 1>Hey everybody, Welcome into the Thinking Crypto podcast. You're home

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<v Speaker 1>for cryptocurrency news and interviews. I'm your host, Tony Edward.

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<v Speaker 2>On your way in.

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<v Speaker 1>Please hit that subscribe button as well as a thumbs

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<v Speaker 1>up button and leave a comment below. If you're listening

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<v Speaker 1>on a podcast platform such as Spotify or Apple, please

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<v Speaker 1>leave a five star.

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<v Speaker 2>Rating and review. Folks.

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<v Speaker 1>There's nothing new to report on the price. We're still

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<v Speaker 1>waiting for bigcoin to make that move, whether that be

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<v Speaker 1>a relief rally move or a continuation of the bullmarket

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<v Speaker 1>to new all time highs. So at this point it's

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<v Speaker 1>a waiting game. If there are major changes, I will

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<v Speaker 1>of course let you guys know. But let's jump into

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<v Speaker 1>some crypto news.

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<v Speaker 2>Today.

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<v Speaker 1>We had a bunch of xrpce body ttfs go live,

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<v Speaker 1>so grey Scales xrp trust ETF went live, so that's

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<v Speaker 1>a big one. And also Franklin Templeton launched their xrpce

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<v Speaker 1>body TF, so a lot of xrp spoty tf's going

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<v Speaker 1>live here guys. And Greyscale also launched their doge coin ETF,

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<v Speaker 1>so this is really great. It's going to build a

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<v Speaker 1>lot of awareness about these assets. It's going to be another

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<v Speaker 1>on ram for people to participate in the crypto market,

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<v Speaker 1>and you know, more of the supply to be bought up. Now,

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<v Speaker 1>obviously we are in a major correction, so we have

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<v Speaker 1>to get out of here before you start to see

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<v Speaker 1>these ETFs perform really well. And here Eric Balachunz of

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<v Speaker 1>Bloomberg says there are five spot crypto ETFs launching over

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<v Speaker 1>the next six days. Beyond that, we don't have exact details,

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<v Speaker 1>but we expect a steady supply of them, likely over

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<v Speaker 1>one hundred in the next six months. And he shared

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<v Speaker 1>a chart here that's his colleague James Seifert, who have

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<v Speaker 1>had on the podcast, put together just showing bit wise

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<v Speaker 1>as doge Coin ETF, Gray Scales, chain Link ETF as well.

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<v Speaker 1>So a lot more is down the pipeline, and you

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<v Speaker 1>know you're going to see a lot of all coin

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<v Speaker 1>ETFs here. I expect to see Avax, Cardano, more Hbar

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<v Speaker 1>ETFs and so on and so forth. Once again, I

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<v Speaker 1>know the timing is not great with everything is happening

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<v Speaker 1>in the market, but still it's these on rams being

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<v Speaker 1>set up are very good for the long term. And

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<v Speaker 1>you know, if we do see some sort of relief

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<v Speaker 1>rally for bitcoin and all coins start going bananas, you

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<v Speaker 1>could see the inflows take up. Now, if the bullmarket continues,

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<v Speaker 1>you know, based on let's say my thesis of the

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<v Speaker 1>macro factors, and we go to new all time highs,

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<v Speaker 1>you're going to see a lot of inflows into these

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<v Speaker 1>respective ETOs.

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<v Speaker 2>Now, we have some.

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<v Speaker 1>Interesting news around v chain. So vchain announced today that

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<v Speaker 1>they have partner with Record to deliver digital product passports

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<v Speaker 1>and RWA infrastructure for the EU market. So vchain has

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<v Speaker 1>entered a strategic partnership with Record to accelerate the next

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<v Speaker 1>phase of the tokenization infrastructure for real world assets. This

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<v Speaker 1>partnership brings together Vchain's battle tested, energy efficient blockchain with

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<v Speaker 1>Records API first trust layer which makes data streams tamper

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<v Speaker 1>proof with minimal integration effort. Enterprises will be able to

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<v Speaker 1>secure logs, documents, and product events on chain without changing

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<v Speaker 1>user experience or rebuilding core systems.

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<v Speaker 2>So this is really great adoption for v chain.

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<v Speaker 1>I am a VET token holder, many of you know that,

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<v Speaker 1>and I am bulsh on this project too. They continue

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<v Speaker 1>to get adoption across the globe from different brands and companies,

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<v Speaker 1>and this is a pretty big one. You know, we're

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<v Speaker 1>seeing the tokenization trend grow significantly. Everyone is joining the tokenization.

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<v Speaker 2>Race now, folks.

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<v Speaker 1>A great place where you can buy, sell, and stake

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<v Speaker 1>your crypto assets is on Uphold. So if you want

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<v Speaker 1>to buy v chain or XRP or doge or bitcoin itself,

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<v Speaker 1>you can do that on an uphold and they have

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<v Speaker 1>three hundred plus cryptocurrencies. They offer staking on twenty plus

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<v Speaker 1>crypto assets now. I've been a user of v chain

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<v Speaker 1>since twenty eighteen. They're one of my go to exchanges.

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<v Speaker 1>I've never had any issues or problems and they've always

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<v Speaker 1>been reliable and best of all, they don't commingle or

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<v Speaker 1>lend out your crypto assets and they are one hundred

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<v Speaker 1>percent reserve. You can review their transparency report on their

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<v Speaker 1>website now. They also offer a great rewards program where

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<v Speaker 1>you can earn up to five point two five percent

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<v Speaker 1>on stable coins and part of the rewards program you

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<v Speaker 1>get twenty four hour early access to new tokens that

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<v Speaker 1>they list now to stable coin z. The support for

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<v Speaker 1>this program is USDC that's issued by Circle you get

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<v Speaker 1>two percent. There are l USD which is issued by

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<v Speaker 1>Ripple you get five percent. There and USBC you get

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<v Speaker 1>five point two five percent there, so great program and

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<v Speaker 1>in order to participate, you simply have to open the

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<v Speaker 1>app once per month, deposit fifty dollars once per month,

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<v Speaker 1>and trade fifty dollars once per month. And folks, they're

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<v Speaker 1>doing it the right way. I vetted this. I interviewed

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<v Speaker 1>the CEO and many folks, and they're not doing anything

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<v Speaker 1>weird or shady like you know firms having the pass.

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<v Speaker 1>They are a regulated exchange and they're doing it the

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<v Speaker 1>right way. So if you'd like to learn more about Uphold,

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<v Speaker 1>check out the link in the description. Now, folks, it

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<v Speaker 1>seems Operation Choke point two point zero is not over

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<v Speaker 1>and JP Morgan is continuing it. So JP Morgan has

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<v Speaker 1>ended banking ties with Strikes CEO Jack Maller So. Senator

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<v Speaker 1>Cynthia Lumis even tweeted out about this, and she said,

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<v Speaker 1>policies like JP Morgan's undermines confidence in traditional banks and

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<v Speaker 1>send the digital assets industry overseas. It's past time we

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<v Speaker 1>put Operation Choke point two point zero to rest to

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<v Speaker 1>make America the digital asset capital of the world. So

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<v Speaker 1>Jack Maller's, you know, I highlighted that they closed his account,

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<v Speaker 1>and he's been banking with them for a long time,

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<v Speaker 1>but he has made some very scandalous comments about Jamie

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<v Speaker 1>Diamond and JP Morgan, talking about you know, the work

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<v Speaker 1>they did with Jeffrey Epstein and all that, right, and

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<v Speaker 1>he's not wrong, but he's been very public and it

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<v Speaker 1>seems like there's some retaliation here because when he asked them,

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<v Speaker 1>why have you debanked me?

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<v Speaker 2>And they are like, we're not allowed to tell you.

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<v Speaker 1>So that's weird, right if you did something and they're like, hey,

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<v Speaker 1>you did X or why and this is why we're

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<v Speaker 1>shutting your account. Okay, you know, you give a valid reason.

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<v Speaker 2>They're just not saying anything.

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<v Speaker 1>So this is clearly some form of retaliation and it

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<v Speaker 1>sucks that these banks can do this. They can shut

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<v Speaker 1>your account down, don't give you a reason, like what,

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<v Speaker 1>But you know the end crypto industry is going to

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<v Speaker 1>fight back. We've been winning these battles and we won

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<v Speaker 1>the war. Honestly, it's we are in the then you

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<v Speaker 1>win phase, right, So these folks that are going to

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<v Speaker 1>be in for it as crypto. You know, even crypto

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<v Speaker 1>is preparing for the midterms coming up in the election,

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<v Speaker 1>So stand where Crypto is going to vet twenty twenty

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<v Speaker 1>six candidates on digital asset positions. So Crypto is ready

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<v Speaker 1>to spend money again. And anyone who's anti Crypto are

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<v Speaker 1>they going to get their assets handed to them again?

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<v Speaker 1>Because Crypto was the biggest spender in the twenty twenty

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<v Speaker 1>four US elections and we saw how that panned out.

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<v Speaker 1>So Jamie Diamond and JP Morgan, they are going to

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<v Speaker 1>be in trouble now. They do have a lot of power,

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<v Speaker 1>so we'll see what happens. But I think if the

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<v Speaker 1>public pressure builds up, plus the pressure from members of Congress,

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<v Speaker 1>they're going to have to capitulate or at least give

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<v Speaker 1>an answer why they debanked him.

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<v Speaker 2>And let's see if they start to debank other people.

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<v Speaker 1>Even though they have been embracing Crypto, you know, they're

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<v Speaker 1>kind of forced to. You know, I don't think they

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<v Speaker 1>want to. I think Jamie Diamond is doing it kicking

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<v Speaker 1>and screaming. He does not like it at all. But

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<v Speaker 1>like I said, we're in the then you win phase. Well,

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<v Speaker 1>let's watch this closely. Are these banks, you know, trying

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<v Speaker 1>to stop some of these players so they can push

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<v Speaker 1>their products and services right that they're building out. Let's

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<v Speaker 1>see how this works out now moving ahead, Onto Finance

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<v Speaker 1>turns to figures stable coin with twenty five million dollar

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<v Speaker 1>investment to back Tookenize fun So I am an Onto

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<v Speaker 1>token holder. I'm bullish on this project. I recently interviewed

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<v Speaker 1>the founder, Nathan Allman at Chainlink Smart Con. Many of

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<v Speaker 1>you have seen that interview at Publish a few days ago.

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<v Speaker 1>So Onto Finance has purchased twenty five million of YLDs,

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<v Speaker 1>the yield bearing stable coin issued by Figure Technology Solutions,

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<v Speaker 1>to diversify the assets backing its tokenized US Treasury funds.

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<v Speaker 2>The company said.

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<v Speaker 1>Monday that YLDs will be added to a reserves portfolio

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<v Speaker 1>that already includes tokenized treasury products from major asset managers,

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<v Speaker 1>including funds issued by Blackrock, Fidelity, Franklin Templeton, and wisdom

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<v Speaker 1>Tree Design. For institutional investors, the Onto Short Term US

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<v Speaker 1>Government Bond Fund offers on chain exposure to treasuries with

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<v Speaker 1>twenty four to seven redemptions and an estimated annual return

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<v Speaker 1>of three point sixty eight percent. The tokenized fund has

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<v Speaker 1>about seven hundred and seventy seven million dollars in total

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<v Speaker 1>value locked as of this writing.

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<v Speaker 2>So guys.

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<v Speaker 1>We continue to see expanding and building, which is very healthy.

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<v Speaker 1>And you can see tokenization is the big race here

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<v Speaker 1>in to stable coins, and these folks are backing their

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<v Speaker 1>tokenized funds or with different assets, so they're backing with

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<v Speaker 1>figure stable coin, which is interesting. Now crypto is a

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<v Speaker 1>global acid class, and we got news out of Japan,

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<v Speaker 1>Japanese watchdog to require exchanges to hold liability reserves. So

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<v Speaker 1>across the global seeing the infrastructure being built for the

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<v Speaker 1>crypto acid class, regulations and rules are being put into place.

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<v Speaker 1>There's no banning anymore. The people who are anti crypto

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<v Speaker 1>have capitulated. They've all disappeared. You got the un educating

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<v Speaker 1>people about crypto. You have the IMF and the BIS

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<v Speaker 1>showing people which way to go, which rules to put

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<v Speaker 1>into place. They've completely capitulated. It's amazing. So the Financial

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<v Speaker 1>Services Agency in Japan will reportedly require cryptocurrency exchanges to

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<v Speaker 1>maintain liability reserves as part of measures to guard against

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<v Speaker 1>hacks or unforeseen events. According to a Monday NIK report,

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<v Speaker 1>Japan's FSA will revise its requirements for local companies to

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<v Speaker 1>include methods for quickly compensating users affected by security breaches.

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<v Speaker 1>Or other causes. The Financial Watchdog cited recent hacks of

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<v Speaker 1>global exchanges as part of the reason behind the change.

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<v Speaker 1>So I think this is great. You know, these exchanges

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<v Speaker 1>need to have the liability reserves. Something happens, right, unforeseen

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<v Speaker 1>events like the article says that they can make their

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<v Speaker 1>users whole.

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<v Speaker 2>The right. We've seen this time and time again.

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<v Speaker 1>This is why I encourage you guys to do self

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<v Speaker 1>custody treasurers one of my sponsors. I use the you

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<v Speaker 1>know the devices, the links will be in a description

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<v Speaker 1>to hold the majority of your crypto assets there because

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<v Speaker 1>you know, you control the private keys. You can put

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<v Speaker 1>it in a safe and a safety deposit box or whatever.

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<v Speaker 2>Right, But there's a risk.

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<v Speaker 1>When you put stuff on exchanges and you leave it there,

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<v Speaker 1>because even if the exchanges is really great, they're not

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<v Speaker 1>trying to scam people, they could be attacked. And now

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<v Speaker 1>if they have insurance and they have the liability reserves

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<v Speaker 1>to make you whole, then you know, I think that's good.

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<v Speaker 1>Maybe you can leave a little bit of crypto on there,

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<v Speaker 1>but if you're leaving all your crypto on their long term,

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<v Speaker 1>make sure they have the reserves and the insurance. But

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<v Speaker 1>I would highly recommend you go self custody.

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<v Speaker 2>So this is good.

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<v Speaker 1>You know, we need this globally, have the reserves to

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<v Speaker 1>make people whole, have the insurance and so forth. So

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<v Speaker 1>the Financial System Council and Advisory Body to the FSA

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<v Speaker 1>is set to release a report on the matter following

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<v Speaker 1>a meeting on Wednesday. One of the expected recommendations would

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<v Speaker 1>require crypto firms to create liability reserve funds. So this

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<v Speaker 1>is great, guys, this is what we want to see.

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<v Speaker 1>And just look at what's happening the building out right.

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<v Speaker 1>A lot of the white glove service, a lot of

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<v Speaker 1>the insurance, assurance and infrastructure that exists in trad.

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<v Speaker 2>FI is now being built for crypto.

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<v Speaker 1>So that is a very good And look some of

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<v Speaker 1>the trad five folks are building it right because they

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<v Speaker 1>want to offer these services. They know what their clients

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<v Speaker 1>want and they have the pedigree. They've gone through the

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<v Speaker 1>process with stocks and other assets. But with crypto it's new.

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<v Speaker 1>They got to do things a little bit different, but

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<v Speaker 1>still you got to have that infrastructure. So all great

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<v Speaker 1>news here, folks. Folks, that's the news. Let me know

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<v Speaker 1>what you think. Leave thoughts and comments below. I know

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<v Speaker 1>we're going to head into Thanksgiving with not any type

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<v Speaker 1>of major price action, which is very different. It's a

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<v Speaker 1>big departure from what we've seen historically. But look, this

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<v Speaker 1>is the nature of markets, right and I often say,

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<v Speaker 1>no one has a crystal ball, and we need to

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<v Speaker 1>adapt to the market changes. Obviously, we don't want to

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<v Speaker 1>invest with hopes and dreams and feelings, but rather look

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<v Speaker 1>at the data, and we're just seeing a shift in

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<v Speaker 1>the timeline, you know, with the headwinds we've had this market.

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<v Speaker 1>And I think a big milestone will be the FED

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<v Speaker 1>ending QT that is happening December first, so pretty much

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<v Speaker 1>next week, so I think, you know, I'm waiting to

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<v Speaker 1>see what happens posts FED ending QT, and then you

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<v Speaker 1>get the market structure. Bill liquidity is going to start

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<v Speaker 1>flowing again. We're seeing different governments around the world like

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<v Speaker 1>Japan start to do quantitative easing. The FED, I think,

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<v Speaker 1>is going to cut rates again, so we're heading to

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<v Speaker 1>a very loose monetary environment where low rates quantitative stop

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<v Speaker 1>and then FED I think we'll roll into quantitative easing

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<v Speaker 1>at some point. But you know, they have different mechanisms

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<v Speaker 1>and ways to inject liquidity, like we've seen in the Treasury,

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<v Speaker 1>the TGA, and much more so. Patience. Patience is a

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<v Speaker 1>key here, folks. I know it's painful, I know it's rough.

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<v Speaker 1>I'm with you, but we got to be able to

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<v Speaker 1>push through these things because it's the nature of markets, right.

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<v Speaker 1>You can't have the pumps without these type of volatility moments. Now,

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<v Speaker 1>a great way you can support me in the podcast

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<v Speaker 1>is by subscribing to my free email newsletter. It is

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<v Speaker 1>one hundred percent free. Link will be in the description.

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<v Speaker 1>Check out my book on Amazon it's available in paperback

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<v Speaker 1>in digital, and my course at mycrypto course dot com.

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<v Speaker 1>This course teaches you everything you need to know about crypto,

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<v Speaker 1>so if you'd like to learn more, check out the

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<v Speaker 1>link in the description and I'll talk to you all

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<v Speaker 1>later