Speaker 1: The SEC hosted its first crypto roundtable today. I'll give
Speaker 1: you the major takeaways and Quinbase is about to make
Speaker 1: a massive acquisition that's going to be a game changer
Speaker 1: for the crypto industry and Tornado Cash, the crypto mixing
Speaker 1: platform has scored a huge win against o fac. I'll
Speaker 1: give it to details. Let's get into it. Hey, everybody,
Speaker 1: welcome into the Thinking Crypto podcast. You're home for cryptocurrency
Speaker 1: news and the interviews. I'm your host, Tony Edward. On
Speaker 1: your way in. Please let that subscribe button as well
Speaker 1: as the thumbs up button and leave a comment below.
Speaker 1: If you're listening on a podcast platform such as Spotify
Speaker 1: or Apple, please leave a rating and review. Folks. Today
Speaker 1: was the first ever crypto roundtable held by the SEC
Speaker 1: in Washington, DC, and it was actually at the SEC headquarters. Guys,
Speaker 1: this is amazing. I love the transparency, I love the openness.
Speaker 1: This is a complete one eighty from what scumbag regulator
Speaker 1: Gary Ginster was doing over the past four years. And
Speaker 1: of course Hester Purse is leading to charge along with
Speaker 1: Mark and we got Paul Atkins who's going to be
Speaker 1: confirmed around March twenty seventh, so later this month and
Speaker 1: then I'm sure he'll be fully situated in office come April.
Speaker 1: So exciting times. We're getting a lot of clarity from
Speaker 1: the SEC, a lot of cases being dropped. Obviously, the
Speaker 1: big one from this week was the SEC dropping the
Speaker 1: Ripple case appeal. So there was your mix of pro
Speaker 1: crypto folks but also your crypto naysayers. Bill Hughes of
Speaker 1: Consensus did a great job of putting together a summary
Speaker 1: here saying crypto optimists or advocates said, the current law
Speaker 1: and future of the infinite how we decisions are not
Speaker 1: a workable regulatory regime. Start with what is a security
Speaker 1: and what isn't. But a more interesting and somewhat trickier
Speaker 1: question is, out of the securities, what deserves exemptive relief?
Speaker 1: What's the thing that justifies a different approach to crypto?
Speaker 1: And if it is control, then how do we define it?
Speaker 1: Securities laws are going to apply to a lot more
Speaker 1: of this stuff than people think, based on how bullish
Speaker 1: the current administration is. So, guys, there's a lot to
Speaker 1: work to do here. But in order to get to
Speaker 1: the destination of clarity and clear rules and the SEC
Speaker 1: helping Congress to craft these rules, we need to have dialogue, right,
Speaker 1: It's important to bring in different law experts, different industry experts,
Speaker 1: and the SEC is doing the job of listening and
Speaker 1: also participating in the conversation. This is what we want.
Speaker 1: So this is the start of something really big, and
Speaker 1: they're going to do more roundtables. Now, you had your
Speaker 1: crypto skeptics, for example John reid Stark, you know, clowns
Speaker 1: like that coming in their main takeaways where people buy
Speaker 1: crypto for investment. SEC's mission is investor protection and that's
Speaker 1: as far as you need to parse jurisdiction. The SEC
Speaker 1: won many more motions than it lost, so how he
Speaker 1: is clearly the answer here. Can we all agree this
Speaker 1: crypto stuff is just done? Now, this was mostly from
Speaker 1: John reid Stark, So of course you got the clown
Speaker 1: in the room, right, And remember he went on sixty
Speaker 1: minutes when BRADGARL. House, a ripple CEO, went on sixty minutes,
Speaker 1: said a whole bunch of nonsense as well. But hey,
Speaker 1: what are you gonna do. You need haters, right, you
Speaker 1: need detractors. Because he's probably in line with some of
Speaker 1: the incumbents being disrupted, so that's why he's saying these things,
Speaker 1: And of course Caroline Crenshaw was there, the single remaining
Speaker 1: Democratic Commissioner. She's outnumbered, of course, but she was still
Speaker 1: on her same bs as well. But John reid Stark
Speaker 1: was the clown in the room for the most part.
Speaker 1: But guys, overall, the administration is pro crypto. Congress is
Speaker 1: ready to pass legislation for market structure as well as
Speaker 1: stable coins, so it doesn't matter what clowns like John
Speaker 1: reid Stark have to say. In fact, Teressa Goudi Gilan,
Speaker 1: who if you recall she was in a running to
Speaker 1: be an SEC chair, she said how he was never
Speaker 1: intended to regulate an entire industry nor technology. So guys,
Speaker 1: we know how we was created back in the nineteen
Speaker 1: thirties forties, right, And this was before the Internet, before blockchain,
Speaker 1: before tokens were on a decentralized blockchain distributed globally, before
Speaker 1: people could even fathom in their mind the concept of
Speaker 1: the Internet. So it is not fit to regulate this
Speaker 1: type of asset. We need an updated version or an
Speaker 1: entirely different tests for digital assets, because once again these
Speaker 1: things are not just in the United States. This is
Speaker 1: not an Orange grove in Florida within the walls of
Speaker 1: the border of the United States. These things are global.
Speaker 1: What if a token was issued overseas, but it's trading
Speaker 1: in the US and vice versa. You know what happens there.
Speaker 1: What if the majority of the tokens are trading outside
Speaker 1: the US, but a good amount is in the US.
Speaker 1: So you have all these complexities. And then when the
Speaker 1: blockchains are decentralized and the tokens are just moving on
Speaker 1: their own with market participants and not necessarily the issuer
Speaker 1: or the foundation, you know who's helping to build adoption
Speaker 1: and things like that, what are you going to do?
Speaker 1: How are you going to regulate it? So all of
Speaker 1: these nuances need to be regulated, and the Howie tests
Speaker 1: is not up to par to regulate this, so that
Speaker 1: common sense telps you that, right guys. So but like
Speaker 1: I said, the big takeaway transparency dialogue, all of these
Speaker 1: things very bullish for the market and industry, will lead
Speaker 1: to clarity, guys. Now, speaking of crypto legislation, the House
Speaker 1: Financial Services GOP tweeted out at chairman Representative French Hill
Speaker 1: announces the April hearing scheduled and the key highlights and
Speaker 1: I'll just highlight the one that's related to crypto. They
Speaker 1: have a hearing titled American Innovation and the Future of
Speaker 1: Digital Assets, Aligning the US Securities laws for the Digital Age. Now,
Speaker 1: many of you know I've had Congressman French Hill on
Speaker 1: the podcast many times. I'm hoping to get him back
Speaker 1: on soon. And by the way, next week I'm interviewing
Speaker 1: Congressman Brian Style out of Wisconsin, who's been working with
Speaker 1: French Hills. So, guys, trying to get all these folks
Speaker 1: who are working on legislation on the podcast so you
Speaker 1: can hear directly from them. But you can see crypto
Speaker 1: is on the agenda here, guys, and it's a high priority,
Speaker 1: So very bullish. Moving ahead, We've got huge news coming
Speaker 1: out around coinbase. Coinbase is acquiring Deribit. Talks reach advanced
Speaker 1: stage according to Bloomberg. Now you may say, what the
Speaker 1: hell is deribit, Well, guys, Deribit controls over eighty percent
Speaker 1: of the options market, and Jason Yanovitz a block Work, said,
Speaker 1: I'd expect this to be the largest acquisition in crypto history.
Speaker 1: That's even bigger than what we saw announced just this week,
Speaker 1: which is Cracking acquiring Ninja Trader for one point five
Speaker 1: billion dollars. Guys, this is amazing, right, what's happening pretty incredible.
Speaker 1: And remember last year Stripe acquired Bridge, the stable coin platform,
Speaker 1: for a billion dollars. These are signs of growth the
Speaker 1: bullish market, right. These companies are not doing this to
Speaker 1: lose money. I've often said that they're looking to expand
Speaker 1: their footprint, gain as much market share as possible. They're
Speaker 1: expanding globally, they're acquiring businesses. I mean, if you think
Speaker 1: about it outside the crypto market, just look at other
Speaker 1: companies that have grown through a quisitions like Google. Google
Speaker 1: didn't create YouTube, they bought YouTube right and other products,
Speaker 1: and there are many other examples. But I hope you
Speaker 1: guys understand what I'm saying. So this is so huge, Guys,
Speaker 1: where we're headed. I don't think people realize what's happening.
Speaker 1: So the companies have notified the regulators in Dubai. So
Speaker 1: the companies have notified regulators in Dubai about the discussions,
Speaker 1: as dera bit holes a license there which would be
Speaker 1: taken over by and acquire, Bloomberg said, citing anonymous sources.
Speaker 1: Deribit is the world's largest trading platform for bitcoin and
Speaker 1: ether options, while Coinbase is the biggest US crypto exchange
Speaker 1: according to a platform Kaiko, man, I don't know what
Speaker 1: to say if you don't see what is happening here.
Speaker 1: I don't know what to say for into you right,
Speaker 1: because this is massive and I just see big players
Speaker 1: moving chess pieces here on the board, and they are
Speaker 1: setting the stage for a massive bull run, not just
Speaker 1: a cycle, but future bull markets because tokenization is going
Speaker 1: to be the next big phase when they're going to
Speaker 1: put all these traditional assets on the blockchain. Guys now,
Speaker 1: quick word from our sponsor, and that is bitgo, which
Speaker 1: is one of the top tier crypto custodians in the
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Speaker 1: dot com. Link will be in the description. Now here's
Speaker 1: another big win. Tornado Cash, which is the crypto mixer
Speaker 1: platform that has been attacked over the years. As you
Speaker 1: guys know, and you know we've talked about it, it's
Speaker 1: not the tool or the platform, it's the bad actor.
Speaker 1: So bad actors use a technology that is not a
Speaker 1: crime for the founders of that platform. The government, as
Speaker 1: with all things, have to go after the bad actors.
Speaker 1: But we know they were attacking cryptos that are trying
Speaker 1: to shut all this stuff down. Well, apparently, in fact,
Speaker 1: the Office of Foreign Assets Control they have delisted tornado
Speaker 1: Cash here and here. Bilagi stren of us and said
Speaker 1: privacy wins. Tornado Cash is legal now. Roman Storm and
Speaker 1: alexey per Stev should immediately be freed, pardon and reimbursed
Speaker 1: by the state for their invalid prosecution. So those are
Speaker 1: the founders, of course, so why should they be persecuted.
Speaker 1: Why wasn't the law enforcement and government folks going after
Speaker 1: the bad actors? They can track all that stuff. It's
Speaker 1: on the blockchain, they have IPA and all that, right,
Speaker 1: But it was the attack on crypto. But this is
Speaker 1: great news, guys. Crypto is winning. We're getting clarity across
Speaker 1: the board, and we're moving in the right direction here.
Speaker 1: Now check this news out around Meta Planet. The CEO,
Speaker 1: Simon Gorovich tweeted out Metaplanet is thrilled to welcome Eric
Speaker 1: Trump to the newly formed strategic board of advisors. His
Speaker 1: business expertise and passion for bitcoin will help drive our
Speaker 1: mission forward as we continue building one of the world's
Speaker 1: leading bitcoin treasury companies. For those of you who don't remember,
Speaker 1: I've often shared the news around Metaplanet buying bitcoin. They
Speaker 1: are using the micro strategy or Strategies playbook where they
Speaker 1: are buying bitcoin as a treasury reserve asset. They are
Speaker 1: a publicly traded company in Japan and once again doing
Speaker 1: the same thing as micro Strategy raising debt buying Bitcoin.
Speaker 1: So interesting that Eric Trump is joining their board of advisors.
Speaker 1: So pretty amazing stuff. Now, this week we shared some
Speaker 1: news around securitized, the platform that is helping companies to
Speaker 1: tokenize the help Blackrock to launch your tokenize fund. Well,
Speaker 1: their CEO, Carlos Domingo, who I've had on the podcast,
Speaker 1: he tweeted a recap. He says, it's been an eventful
Speaker 1: last few days. Let me recap. BlackRock's BIDDLE exceeded one
Speaker 1: billion dollars and became the largest tokenized treasury fund and
Speaker 1: is now close to one point five billion dollars. Yesterday
Speaker 1: we celebrated its first year anniversary. Two our total assets
Speaker 1: under management is now trending towards three billion dollars. The
Speaker 1: largest tokenization platform in the industry by far. Number three
Speaker 1: we launch converge on chain with Athena Labs to bring
Speaker 1: institutional DeFi and RWAs together. Number four we hosted Tokenized
Speaker 1: dot NYC with friends from Wormhole and it was an
Speaker 1: awesome conference. Number five we won the largest RWA allocation
Speaker 1: from Spark with five hundred million dollars coming into BIDDLE
Speaker 1: soon competing against thirty nine companies. Hard work pays off,
Speaker 1: he proceeds to say that thanks to all the people
Speaker 1: that securitize for making this happen in amazing guys. I mean,
Speaker 1: this is mind blowing what's taking place here. And once again,
Speaker 1: this is not making big headlines on CNBC or Fox
Speaker 1: or wherever you get your mainstream news. It's not the
Speaker 1: majority of people don't even know what the hell is
Speaker 1: going on here. But we do, and we are early,
Speaker 1: early adopters, and we have bought the dips, we've bought
Speaker 1: the blood and streets, the lows, and we have the
Speaker 1: ability to make incredible returns here. And of course the
Speaker 1: people who are not paying attention, they're going to be
Speaker 1: part of what's called the dumb money crowd. I didn't
Speaker 1: make that term up. They come in at the top,
Speaker 1: right with the herd, with the mainstream telling them, oh,
Speaker 1: look at this, this is going crazy. Great, you should
Speaker 1: be buying Jim Kramer, right, you should be buying. But
Speaker 1: that's when we are looking to sell, folks. And this
Speaker 1: is why you have to educate yourself. This is why
Speaker 1: knowledge is power. And patch yourself on the back. If
Speaker 1: you're here early and you understand what's taking place, all right, guys,
Speaker 1: that's the news Let me nature think heads up. I'll
Speaker 1: be publishing my interview with Jasmine Cooper had a product
Speaker 1: at Ripplex tomorrow. We talk all things XRP ledger, tokenization,
Speaker 1: on the XRP Ledger, much more. You don't want to
Speaker 1: miss this one, so it'll be published in the morning.
Speaker 1: You can check it out and guys, A great way
Speaker 1: you can support me in the podcast is by subscribing
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Speaker 1: It's on Substack. Check out my book on Amazon. It's
Speaker 1: available in paperback and digital. Also sign up for my
Speaker 1: new course at Mycrypto course dot com. It's a comprehensive
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Speaker 1: Thank you guys for watching and listening. I appreciate you all,
Speaker 1: and I'll talk to you all later