WEBVTT 1 00:00:05.000 --> 00:00:08.480 Hey, everyone, Welcome into the Thinking Crypto podcast, your home 2 00:00:08.560 --> 00:00:12.359 for cryptocurrency news and interviews. I'm your host, Tony Edward. 3 00:00:12.519 --> 00:00:14.880 On your way in. Please sit that subscribe button as 4 00:00:14.960 --> 00:00:17.239 well as a thumbsub button and leave a comment below. 5 00:00:17.480 --> 00:00:20.079 If you're listening on a podcast platform such as Spotify 6 00:00:20.160 --> 00:00:23.960 or Apple, please leave a five star rating and review. Okay, folks, 7 00:00:24.000 --> 00:00:25.839 I'm sure many of you saw the news already, and 8 00:00:25.879 --> 00:00:29.039 that is the Clarityact has officially passed in the Senate 9 00:00:29.079 --> 00:00:32.560 Banking Committee through the markup phase. So the vote was 10 00:00:32.640 --> 00:00:35.000 fifteen to nine and the bill will now go to 11 00:00:35.039 --> 00:00:38.560 the Senate floor. So a major win for crypto here. 12 00:00:38.840 --> 00:00:41.119 I know this is just part one of the five 13 00:00:41.200 --> 00:00:44.240 part phase of getting through the Senate to the ultimately 14 00:00:44.280 --> 00:00:47.039 being voted and then going to President Trump's desk. But 15 00:00:47.560 --> 00:00:50.200 we're seeing progress right. There are people who are saying 16 00:00:50.240 --> 00:00:52.280 this bill won't even make it out the markup phase. 17 00:00:52.399 --> 00:00:53.280 Well, he just did. 18 00:00:53.520 --> 00:00:56.119 And in fact, it was a bipartisan vote to advance 19 00:00:56.200 --> 00:01:00.399 is bill with two Democrats voting in favor. Who are 20 00:01:00.799 --> 00:01:04.879 Senator Rubin Gallego and Senator Angela also Brooks if you 21 00:01:04.959 --> 00:01:08.280 recall Senator also Brooks and Tillus were the ones who 22 00:01:08.319 --> 00:01:12.000 worked on the stable coin compromise deal. So bipartisan support 23 00:01:12.040 --> 00:01:16.319 on both fronts. So very bullish. We got ways to go, 24 00:01:16.400 --> 00:01:17.920 but this is a big win. 25 00:01:18.280 --> 00:01:18.480 Now. 26 00:01:18.519 --> 00:01:21.000 A lot of folks weighed in about how great this is. 27 00:01:21.040 --> 00:01:25.200 I'll just share what Brian Armstrong, ceof Coinbase, said about it. Obviously, 28 00:01:25.200 --> 00:01:27.159 you guys can go read the comments and tweet them 29 00:01:27.200 --> 00:01:30.079 everybody else there's so many. By the way, Brian said, 30 00:01:30.079 --> 00:01:32.760 the Crypto Market Structure Bill has passed the Senate Banking 31 00:01:32.799 --> 00:01:36.400 Committee with a bipartisan vote. Historic day for crypto and 32 00:01:36.439 --> 00:01:39.599 for the future of digital assets in America. Grateful for 33 00:01:39.680 --> 00:01:43.719 the countless hours from lawmakers and staff to strengthen this legislation. 34 00:01:44.079 --> 00:01:48.799 Big improvement from where we were in January on rewards, tokenization, DeFi, 35 00:01:48.840 --> 00:01:52.560 and CFTC authority. I'm proud we stood up for our 36 00:01:52.640 --> 00:01:55.359 customers in that moment and the bill is better. 37 00:01:55.159 --> 00:01:55.719 Because of it. 38 00:01:55.879 --> 00:01:59.760 Looking forward to a bipartisan law that cements the US 39 00:02:00.079 --> 00:02:04.359 as the world's crypto capital. Let's get clarity done so again, 40 00:02:04.519 --> 00:02:06.920 huge win for the industry folks. Now, of course, not 41 00:02:07.040 --> 00:02:10.159 everyone was happy about this. Elizabeth Warren was on a 42 00:02:10.240 --> 00:02:13.280 tear and you know, she showed up with her same 43 00:02:13.280 --> 00:02:16.039 all bullshit talking points that were handed down to her 44 00:02:16.080 --> 00:02:16.960 from the banksters. 45 00:02:17.360 --> 00:02:17.560 Right. 46 00:02:17.639 --> 00:02:19.439 So one of the things she said, I'm not gonna 47 00:02:19.439 --> 00:02:21.280 play the clips because I don't want to have to 48 00:02:21.360 --> 00:02:22.280 listen to her voice. 49 00:02:22.280 --> 00:02:23.800 But she said this. 50 00:02:23.639 --> 00:02:28.439 Will blow up the economy, So all types of hyperbole 51 00:02:28.680 --> 00:02:29.439 and nonsense. 52 00:02:29.800 --> 00:02:32.360 But what she's really trying to say is, this is 53 00:02:32.360 --> 00:02:35.280 gonna blow up my bankster friends. They're gonna lose market share, 54 00:02:35.400 --> 00:02:37.319 they're gonna lose their big bonuses. 55 00:02:37.439 --> 00:02:41.120 Right, going back to the stable coin neal compromise, you know, 56 00:02:41.319 --> 00:02:43.240 we were talking about the banks don't want to give 57 00:02:43.400 --> 00:02:45.680 any type of yield to you or higher interest to you. 58 00:02:45.719 --> 00:02:47.840 They want to keep the majority of the money for 59 00:02:47.960 --> 00:02:51.560 their year end bonuses. And you can imagine Jamie Diamond, 60 00:02:51.560 --> 00:02:55.159 who's her best friend, right, they teamed up to bash Crypto. 61 00:02:55.199 --> 00:02:58.120 If you guys recall in early twenty twenty four. In fact, 62 00:02:58.199 --> 00:03:02.520 John Deeton, who ran against Elizabeth Warren and obviously was 63 00:03:02.680 --> 00:03:06.719 really instrumental in the Ripple lawsuitcase against the SEC or 64 00:03:06.759 --> 00:03:10.719 the SEC's lawsuit against Ripple. You know, he highlighted that 65 00:03:10.840 --> 00:03:15.360 even in the Epstein situation, Elizabeth Warren did not once, 66 00:03:15.719 --> 00:03:19.199 did not once ask Jamie Diamond in that hearing anything 67 00:03:19.240 --> 00:03:22.280 about that, even though JP Morgan got fined and they. 68 00:03:22.159 --> 00:03:23.159 Paid that fine. 69 00:03:23.439 --> 00:03:27.879 So Elizabeth Warren, while she's put up this facade over 70 00:03:27.919 --> 00:03:29.800 the years that she's against the banks, she's not. 71 00:03:29.960 --> 00:03:31.360 She's a puppet for them. 72 00:03:31.759 --> 00:03:35.360 And she had her attack dog Gary against her unlawfully 73 00:03:35.400 --> 00:03:38.879 attacking the crypto industry under the Binding administration. But it's 74 00:03:38.919 --> 00:03:41.800 a new day, and you know, she again showed up 75 00:03:41.800 --> 00:03:44.439 with a whole bunch of nonsense, and she had the 76 00:03:44.479 --> 00:03:48.120 most amendments to the bill around forty four. I mentioned 77 00:03:48.159 --> 00:03:51.319 that in yesterday's podcast. So, same old Elizabeth Warren, up 78 00:03:51.360 --> 00:03:54.159 to her shenanigans. But she's on the losing side of history. 79 00:03:54.520 --> 00:03:57.120 In fact, Senator Bernie Moreno called her out on this 80 00:03:57.240 --> 00:04:00.479 hyperbole statement of when this will blow up the economy. 81 00:04:00.479 --> 00:04:03.919 Crypto will blowup the economy, he said, in just fifteen months, 82 00:04:03.919 --> 00:04:07.360 Senator Warren has predicted economic arm again in more than 83 00:04:07.479 --> 00:04:11.599 six times. Today's apocalypse, the claritiac will blow up the economy, 84 00:04:11.719 --> 00:04:15.560 same script, different target. Maybe the only thing crashing is 85 00:04:15.599 --> 00:04:20.519 her credibility innovation over fear. I don't even know what 86 00:04:20.560 --> 00:04:23.040 to say. Look, Bernie Marine is obsolutely absolutely right. But 87 00:04:23.360 --> 00:04:26.000 again Elizabeth Warren again those big fat checks, right, so 88 00:04:26.079 --> 00:04:28.920 she's gonna go out and say all the craziness. So, guys, 89 00:04:28.959 --> 00:04:32.279 what happens next? Obviously this is a big win. Well, 90 00:04:32.439 --> 00:04:35.839 the bill now goes to the Senate floor for a vote, 91 00:04:36.240 --> 00:04:38.680 and the bill will need sixty votes to pass in 92 00:04:38.720 --> 00:04:41.560 the Senate. We don't have a date yet. The reporting 93 00:04:41.560 --> 00:04:43.279 we're getting is this is going to happen soon. 94 00:04:43.680 --> 00:04:44.199 Obviously. 95 00:04:44.519 --> 00:04:47.600 Patrick Witt at the White House, the White House crypto advisor, 96 00:04:47.879 --> 00:04:52.920 said they're targeting to have this pass by July fourth, right, 97 00:04:52.959 --> 00:04:55.639 so that would be a major win. The big part 98 00:04:55.680 --> 00:04:57.079 is to get it out of the Senate, which is 99 00:04:57.319 --> 00:04:59.600 it's really hard to move bills there. Right, If you 100 00:04:59.639 --> 00:05:03.240 guys caught my interviews with folks like Cody Carbone or 101 00:05:03.319 --> 00:05:06.439 Ron Hammond and all these guys, it's really really tough. 102 00:05:07.079 --> 00:05:09.120 And after the bill passes through the Senate, it has 103 00:05:09.160 --> 00:05:11.639 to go to the House of Representatives to be passed again. 104 00:05:11.759 --> 00:05:14.759 Because the Senate updated the bill, right, they changed fit 105 00:05:14.839 --> 00:05:16.639 twenty one to clarity and did a whole bunch of 106 00:05:16.680 --> 00:05:19.160 new things. So the House will have to pass it, 107 00:05:19.199 --> 00:05:20.639 But I don't believe the House is going to have 108 00:05:20.680 --> 00:05:23.240 any problems Again. They passed the FIT twenty one and 109 00:05:23.279 --> 00:05:24.920 then it will go to President Trump and that's the 110 00:05:24.959 --> 00:05:27.480 easy part. He'll just sign it into law, just like 111 00:05:27.519 --> 00:05:29.519 he did the Genius Act. But we got to get 112 00:05:29.519 --> 00:05:31.800 it through the Senate. And of course Elizabeth Warren's not 113 00:05:31.839 --> 00:05:34.040 going to stop here. She's going to continue to fight, 114 00:05:34.839 --> 00:05:37.600 and the banks are going to continue to lobby. You know, 115 00:05:37.680 --> 00:05:41.800 they could certainly go after more Senators and say, hey, look, 116 00:05:42.279 --> 00:05:43.680 midterm elections coming up. 117 00:05:44.199 --> 00:05:45.360 I'm going to send you a check. 118 00:05:46.079 --> 00:05:49.480 Right, don't vote for this bill, protect us. 119 00:05:49.519 --> 00:05:51.800 Where are the banks? You guys know how it all works. 120 00:05:51.839 --> 00:05:54.000 So that's what this is. 121 00:05:54.000 --> 00:05:57.000 Where we can't guarantee anything's going to pass, but at 122 00:05:57.120 --> 00:05:59.399 least we're seeing progress and we're making it through the 123 00:05:59.399 --> 00:06:01.959 different hurd and today we crossed the big hurles. So 124 00:06:02.759 --> 00:06:05.800 I'm optimistic and I believe overall the US has to 125 00:06:05.800 --> 00:06:09.399 get this done from a global competition standpoint and to 126 00:06:09.759 --> 00:06:14.480 unlock innovation in this industry for more capital to come in, 127 00:06:14.639 --> 00:06:17.480 for jobs to be created and much more. Plus, Look, 128 00:06:17.720 --> 00:06:20.240 even though some of these incumbents are fighting back because 129 00:06:20.279 --> 00:06:22.199 they want to slow it down so they can catch up. 130 00:06:22.319 --> 00:06:24.240 They're still building, right JP Morgan. 131 00:06:24.279 --> 00:06:29.519 All these banks are still building, launching tokenized acids, stable coins, crypto. 132 00:06:29.199 --> 00:06:30.920 Investment products, and much more. So. 133 00:06:31.279 --> 00:06:33.839 It's not that they are against the technology, they just 134 00:06:33.920 --> 00:06:36.519 want to control it. They would but they would love 135 00:06:36.600 --> 00:06:38.839 to wipe out all the crypto native firms and just 136 00:06:39.000 --> 00:06:42.879 control blockchain and crypto. That would be their dream, right, 137 00:06:42.959 --> 00:06:46.160 But it's not going to happen. So disruptions at their 138 00:06:46.160 --> 00:06:49.279 doorstep now something we do have to be aware of. 139 00:06:49.959 --> 00:06:53.720 There were some last minute negotiations between the Banking Committee 140 00:06:54.199 --> 00:06:58.600 Republicans and Democrats over multiple amendments, which were brokeered this 141 00:06:58.720 --> 00:07:02.319 morning in an effort to secure bipartisan support for today's 142 00:07:02.399 --> 00:07:06.279 vote of the claritiac. This is being reported by Eleanor Turret. 143 00:07:06.920 --> 00:07:09.480 She says, however, the compromise came at the cost of 144 00:07:09.519 --> 00:07:14.439 a specific change to Senator Lumis's amendment that remove language 145 00:07:14.439 --> 00:07:17.279 from Section three oh one of the bill referencing the 146 00:07:17.279 --> 00:07:22.480 Blockchain Regulatory Certain Act, disappointing some DeFi advocates who say 147 00:07:22.519 --> 00:07:26.600 the move could strip out critical protections for software developers as. 148 00:07:26.480 --> 00:07:27.480 The bill moves forward. 149 00:07:27.920 --> 00:07:31.120 So we know the other major factor outside of stable 150 00:07:31.160 --> 00:07:34.399 coon yield. The other major factor these banks and incumbents 151 00:07:34.399 --> 00:07:35.839 have been fighting is DeFi. 152 00:07:36.319 --> 00:07:36.439 Right. 153 00:07:36.519 --> 00:07:38.600 They don't like that again, they want to control it. 154 00:07:38.879 --> 00:07:42.040 Remember the letter Citadel sent to the SEC regarding this. 155 00:07:42.639 --> 00:07:47.079 So Eleanor continues saying, notably, Senator Mark Warner, Democrat out 156 00:07:47.120 --> 00:07:50.240 of Virginia, did not vote to advance the bill, despite 157 00:07:50.319 --> 00:07:55.120 positively referencing the changes during the markup. That said, Senator 158 00:07:55.120 --> 00:07:58.399 Bernie Moreno said during the hearing that there's still work 159 00:07:58.399 --> 00:08:01.639 to be done on section three oh one, suggesting discussions 160 00:08:01.680 --> 00:08:05.639 will continue in the coming weeks as the Banking Committee 161 00:08:05.639 --> 00:08:09.600 and the Senate Agriculture Committee work to merge the texts 162 00:08:09.759 --> 00:08:12.079 ahead of the full Senate vote. So we got to 163 00:08:12.120 --> 00:08:14.800 watch this because we've got to protect DEFILE again. The 164 00:08:15.319 --> 00:08:18.839 tratifying commans would love to eliminate DEFILE, and they want 165 00:08:18.879 --> 00:08:21.720 to make it more centralized versus decentralized. Again, they want 166 00:08:21.759 --> 00:08:24.600 to control the piping, right, So this is something we 167 00:08:24.639 --> 00:08:27.120 got to pay attention to. It was something that was stripped. 168 00:08:27.120 --> 00:08:30.360 But look, you're never going to get a perfect bill. Initially, 169 00:08:30.399 --> 00:08:33.519 you gotta keep it moving and then you know, as 170 00:08:33.559 --> 00:08:36.799 you go along, the process like Senator burning moreno highlighted here, 171 00:08:37.080 --> 00:08:41.559 you start negotiating and adding these texts in. So we 172 00:08:41.639 --> 00:08:43.840 got to get it done though. It's so important because 173 00:08:43.840 --> 00:08:48.000 if you don't have clarity, another administration can come later 174 00:08:48.039 --> 00:08:50.120 on and just wipe out everything that was done by 175 00:08:50.159 --> 00:08:55.039 the sec, CFTC and other agencies. So clarity will put 176 00:08:55.039 --> 00:08:57.720 the rubber stamp of saying this is law, and if 177 00:08:57.759 --> 00:08:59.320 you want to change it, you got to go through 178 00:08:59.360 --> 00:09:02.720 the whole legis later process, right, versus a president coming 179 00:09:02.759 --> 00:09:05.519 in or so doing an executive order and wiping out, 180 00:09:05.759 --> 00:09:08.360 you know, again, what the agencies have done. So it's 181 00:09:08.399 --> 00:09:11.120 important that we get this bill through. Yes, we still 182 00:09:11.159 --> 00:09:14.080 got to fine tune it, but we're making progress here, guys. 183 00:09:14.120 --> 00:09:17.519 We are absolutely making progress. And there's a saying perfection 184 00:09:17.679 --> 00:09:20.799 is the enemy of progress. Right, you aim for perfection 185 00:09:20.960 --> 00:09:25.000 to get everything done, it ain't gonna happen. And again, 186 00:09:25.039 --> 00:09:27.639 we gotta be carefully because you got people like Elizabeth 187 00:09:27.720 --> 00:09:31.200 Warren who are not giving up. Right again, she's getting 188 00:09:31.200 --> 00:09:33.679 those big fat checks on the banks, so it's not 189 00:09:33.720 --> 00:09:35.080 only herd as others as well. 190 00:09:35.159 --> 00:09:37.600 So we got to get this done, all right, guys. 191 00:09:37.639 --> 00:09:40.200 Quick word from our sponsor, and that is I Trust Capital, 192 00:09:40.279 --> 00:09:42.720 which allows you to invest in crypto as well as 193 00:09:42.759 --> 00:09:45.840 precious metals like gold and silver in an IRA. You 194 00:09:45.879 --> 00:09:48.279 may say, why should I invest via an IRA, Well, 195 00:09:48.360 --> 00:09:52.480 you get huge tax advantages. 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I 233 00:11:40.720 --> 00:11:45.279 bullish on this project. The solutions they've built on chain 234 00:11:45.320 --> 00:11:48.279 Link is being used by other blockchains, by tradi fi 235 00:11:48.440 --> 00:11:51.799 and crypto native firms, so it's pretty incredible. This is 236 00:11:51.840 --> 00:11:54.399 one of my long term bets for sure. So cracking 237 00:11:54.519 --> 00:11:57.720 is replacing Layer zero with chain Links CCIP as the 238 00:11:57.799 --> 00:12:03.159 exclusive cross chain infrastructure for KBTC and future wrapped assets. 239 00:12:03.720 --> 00:12:07.080 This sees a total of over three billion in TVL 240 00:12:07.240 --> 00:12:10.120 migrating after a two hundred and ninety two million dollars 241 00:12:10.159 --> 00:12:15.120 Layer zero powered bridge exploit involving KELP. Rival crypto exchange 242 00:12:15.120 --> 00:12:19.120 Coinbase has also selected Chainlink CCIP as the sole bridge 243 00:12:19.279 --> 00:12:22.720 for about seven billion dollars in wrap tokens. Last year, 244 00:12:23.600 --> 00:12:28.279 moving ahead, CME Group and NASDAC announced launch of crypto 245 00:12:28.399 --> 00:12:34.120 index futures tracking, which includes Bitcoin, Ether, Solana, XRP, Cardano Link, 246 00:12:34.240 --> 00:12:37.919 and XLM in a single contract. Look at the names 247 00:12:37.960 --> 00:12:41.080 CME and the Nasdaq. The Nasdaq is stock exchange right. 248 00:12:41.120 --> 00:12:45.080 The CME, sim Chicago Mercantile Group have been around long 249 00:12:45.120 --> 00:12:50.639 before crypto. They're building financial products around different crypto assets. Guys, 250 00:12:50.679 --> 00:12:55.840 we are seeing the maturation and crypto going mainstream. Amazing 251 00:12:55.879 --> 00:13:01.200 stuff now here's another example. Darthmuth Endowment invest in Solana 252 00:13:01.279 --> 00:13:05.960 ETF holds fourteen million dollars in crypto exposure. So we've 253 00:13:06.000 --> 00:13:08.440 seen a lot of universities have been investing in these 254 00:13:08.480 --> 00:13:12.799 crypto ETFs and they're looking to get exposure to obviously 255 00:13:12.879 --> 00:13:16.960 increase the value of their holdings. So I think as 256 00:13:17.000 --> 00:13:19.840 we get the Clarity Act pass, we're going to see 257 00:13:19.840 --> 00:13:22.960 a lot more a lot more again because the risk. 258 00:13:22.759 --> 00:13:26.200 Will be off the table. Obviously there's risks involved. 259 00:13:25.799 --> 00:13:28.360 In investing in any asset right stocks, real estate, and 260 00:13:28.440 --> 00:13:32.360 so forth, but crypto is being held back because there's 261 00:13:32.360 --> 00:13:35.120 not clarity. There's no rules of the road. So a 262 00:13:35.159 --> 00:13:37.960 lot of companies are like, I'm not gonna put that much. 263 00:13:38.200 --> 00:13:41.720 But once there's legislation and everybody knows what the dos 264 00:13:41.759 --> 00:13:44.960 and don'ts are, the capital will flow in. So the 265 00:13:45.120 --> 00:13:49.759 nine billion dollar endowment of Ivy League University Dartmouth College 266 00:13:50.159 --> 00:13:54.879 reported new investments with exposure to cryptocurrencies, increasing the digital 267 00:13:54.919 --> 00:13:58.759 assets in its portfolio since January. Any Thursday, filing with 268 00:13:58.799 --> 00:14:02.879 the SEC, the Trustees of Dartmouth College reported that the 269 00:14:02.960 --> 00:14:07.000 university endowment held about three point three million dollars worth 270 00:14:07.080 --> 00:14:11.080 of bit wise Salona Staking Exchange Traded fund, so bit 271 00:14:11.120 --> 00:14:14.200 wise close friends of the podcast have had Matt Hogan 272 00:14:14.240 --> 00:14:17.240 on many times. So great to see that they're getting 273 00:14:17.399 --> 00:14:21.440 their ETF invested in. So the trustees also disclosed about 274 00:14:21.600 --> 00:14:24.600 three point five million dollars worth of gray scaley Theorem 275 00:14:24.720 --> 00:14:28.399 staking ETF and about seven point seven million dollars of 276 00:14:28.399 --> 00:14:32.399 black Rocks I share bitquin ETF. Incredible folks, and they're 277 00:14:32.440 --> 00:14:34.879 not the only one. Yale Harvard, all these guys are 278 00:14:34.879 --> 00:14:38.879 doing it. So again, this will continue to increase. I 279 00:14:38.879 --> 00:14:41.480 think we're seeing to drop in the bucket here, and 280 00:14:41.600 --> 00:14:45.120 once we have clarity, the floodgates are going to open. 281 00:14:45.600 --> 00:14:47.919 I have the thesis, I know, I've said it many 282 00:14:47.960 --> 00:14:51.480 times that with all these on rams being built, ETF's 283 00:14:51.720 --> 00:14:56.440 financial products and not so much the on ramps for retail, 284 00:14:56.519 --> 00:15:00.879 but institutions which hold the big money. With all that 285 00:15:00.919 --> 00:15:04.399 being set up, right, you got Charlis Schwab, launchain crypto trading, 286 00:15:04.440 --> 00:15:07.000 you got e Trade, Morgan Stanley, all that, and then 287 00:15:07.000 --> 00:15:10.919 you have clarity pass. There's your kickoff of the supercycle, right, 288 00:15:11.159 --> 00:15:14.679 which is going to drive the valuations of the tokens higher. Obviously, 289 00:15:15.360 --> 00:15:19.039 all right, moving ahead. Turnkey raises twelve point five million 290 00:15:19.080 --> 00:15:22.759 dollars in round back by Circle Ventures and Sequoia Capital. 291 00:15:23.120 --> 00:15:28.000 So Turnkey bills, wallet and key management infrastructure for crypto applications. 292 00:15:28.039 --> 00:15:31.000 The company said the new capital will support development of 293 00:15:31.120 --> 00:15:35.759 Turnkey Verifiable Cloud, a secure computing product for digital assets 294 00:15:35.799 --> 00:15:39.720 and sensitive workloads, ahead of its public launch. So the 295 00:15:39.840 --> 00:15:42.759 New York based firm was founded by former coin based 296 00:15:42.799 --> 00:15:47.960 custody employees Bryce Ferguson and Jack Kearney. Its infrastructure is 297 00:15:48.080 --> 00:15:52.000 used for non custodial wallets, automated on chain transactions, and 298 00:15:52.080 --> 00:15:53.519 policy controls signing. 299 00:15:53.799 --> 00:15:55.679 So with the twelve point. 300 00:15:55.480 --> 00:15:58.639 Five million dollar raise, it puts their total funding to 301 00:15:58.720 --> 00:16:03.720 sixty five million dollars. A lot of folks participated, including Baying, Cryptocapital, 302 00:16:03.840 --> 00:16:08.639 Light Speed Faction, Galaxy Ventures, Sequoia Capital, and Variant. So, guys, 303 00:16:08.679 --> 00:16:11.039 we continue to see lots of capital being invested in 304 00:16:11.080 --> 00:16:14.639 companies building the infrastructure of the market, right, So this 305 00:16:14.840 --> 00:16:17.919 is very healthy, very good, and of course these companies 306 00:16:17.919 --> 00:16:20.919 are also investing in the tokens themselves, so really great 307 00:16:20.919 --> 00:16:24.559 to see. Now here's another example. Stable coin powered neobank 308 00:16:24.759 --> 00:16:29.960 facet raises fifty one million dollars to expand across emerging markets. 309 00:16:30.279 --> 00:16:32.799 So the money is It's to expand its stable coin 310 00:16:32.879 --> 00:16:37.399 power banking platform with backing from Japan's SBI Group, Invests 311 00:16:37.480 --> 00:16:41.799 Corp and Turkey's ours Port Foy I think I butchered Dad, 312 00:16:41.840 --> 00:16:45.360 but anyway. The Los Angeles based startup uses stable coins 313 00:16:45.399 --> 00:16:49.440 to move money across more than fifty payment corridors in Asia, Africa, 314 00:16:49.559 --> 00:16:53.000 and the Middle East, processing over thirty two billion dollars 315 00:16:53.080 --> 00:16:56.080 in annualized volume for more than one thousand small and 316 00:16:56.200 --> 00:16:59.919 medium sized businesses in one hundred and twenty five countries. 317 00:17:00.480 --> 00:17:02.759 Facet said it plans to use the new funding to 318 00:17:02.960 --> 00:17:06.920 enter additional markets, build lending and trade finance products, and 319 00:17:07.000 --> 00:17:12.160 grow its proprietary own network infrastructure. As stable coins gain 320 00:17:12.240 --> 00:17:16.200 traction for remittances and cross border commerce. So again, guys 321 00:17:16.279 --> 00:17:20.519 huge investments and the building continues. Final news item here 322 00:17:20.640 --> 00:17:25.599 Black Rock Janie Henderson tokenized funds yet instant redemptions with 323 00:17:25.759 --> 00:17:30.960 new one billion dollar facility. So Grove launched a liquidity 324 00:17:31.039 --> 00:17:34.240 network offering up to one billion dollars in daily stable 325 00:17:34.279 --> 00:17:38.559 coin liquidity for instant redemptions for Black Rocks and Janie 326 00:17:38.720 --> 00:17:43.680 Henderson's tokenized treasury funds. The facility dub Basin aims to 327 00:17:43.720 --> 00:17:47.119 fix a key weakness in the fifteen billion dollar tokenized 328 00:17:47.119 --> 00:17:51.519 treasury market by providing instant stable coin payouts against approved 329 00:17:51.559 --> 00:17:57.039 redemptions while underlying fund settlements proceed on traditional rails. Major 330 00:17:57.160 --> 00:18:02.519 asset managers and crypto firms including Securitize, Centrifuge, Anchorage Digital, 331 00:18:02.559 --> 00:18:06.240 Galaxy Digital, and falcon X are partnering on the platform. 332 00:18:06.279 --> 00:18:10.920 As tokenized US treasury products grow rapidly and institutions increasingly 333 00:18:11.039 --> 00:18:14.359 part of cash on blockchain based funds. So many of 334 00:18:14.400 --> 00:18:17.079 you know black Rock has a tokenized money market fund 335 00:18:17.160 --> 00:18:19.920 called Biddle. Recently it was announced they're going to expand 336 00:18:20.599 --> 00:18:23.799 and create more funds, right, So it's great to see 337 00:18:23.839 --> 00:18:28.680 the innovation to help improve these products and the network 338 00:18:28.720 --> 00:18:31.799 and liquidity and the piping and the infrastructure around all 339 00:18:31.799 --> 00:18:34.079 this so incredible what's being built, guys. 340 00:18:34.519 --> 00:18:36.640 We are at the tip of the iceberg. There's so 341 00:18:36.759 --> 00:18:37.240 much more. 342 00:18:37.359 --> 00:18:42.079 Again, once we get like full tokenization clarity or guidance 343 00:18:42.119 --> 00:18:45.599 from the SEC, once we get clarity Act PASS, you're 344 00:18:45.599 --> 00:18:46.359 going to see. 345 00:18:46.319 --> 00:18:47.680 So much more of this. 346 00:18:48.160 --> 00:18:50.039 It is going to increase at a rapid pace. So 347 00:18:50.759 --> 00:18:54.119 very very bullish news. Again, have the long term view. 348 00:18:54.359 --> 00:18:57.559 I know right now the market's not reflecting this news. 349 00:18:57.880 --> 00:19:00.839 It will guys, even like today the Clariact making it 350 00:19:00.839 --> 00:19:03.119 out of the Senate. You look at bitcoins chart, it's 351 00:19:03.160 --> 00:19:06.400 still stuck between eighty one eighty two K. It didn't 352 00:19:06.400 --> 00:19:09.359 break out. There wasn't a massive green candle. In fact, 353 00:19:09.359 --> 00:19:14.119 one could argue this markup was already priced in. But patients. 354 00:19:14.319 --> 00:19:17.559 Market moves in cycles. We are climbing our way out 355 00:19:17.559 --> 00:19:20.519 of a bear market. They're still the potential for a 356 00:19:20.519 --> 00:19:23.039 bitcoin to roll over and go test fifty AK or 357 00:19:23.039 --> 00:19:26.400 sixty K or potentially lower. Again, I'm not saying that's 358 00:19:26.400 --> 00:19:28.839 going to happen. I'm not saying it's guaranteed. I'm saying 359 00:19:28.880 --> 00:19:32.000 it's a scenario because we're talking probabilities. No one has 360 00:19:32.039 --> 00:19:35.440 a crystal ball. So let's see what next week brings us. 361 00:19:35.559 --> 00:19:39.359 I do believe there's still some bullish momentum here for bitcoin. 362 00:19:39.640 --> 00:19:42.039 There is a CME gap at around eighty four K, 363 00:19:42.400 --> 00:19:45.319 so let's see what happens. The stock market continues to 364 00:19:45.359 --> 00:19:48.599 make new highs. This SMP five hundred is going parabolic. 365 00:19:48.880 --> 00:19:52.079 It hit seventy five hundred. Today for the first time 366 00:19:52.119 --> 00:19:56.240 in history, the NASDAK is also ripping like crazy. Now 367 00:19:56.440 --> 00:20:00.000 they're both in the overbought zones, super super overheated here, 368 00:20:00.119 --> 00:20:02.359 so we do have to be cautious. There may not 369 00:20:02.480 --> 00:20:07.480 be a lot more time for this respective rally. It 370 00:20:07.519 --> 00:20:10.119 may correct very soon. I don't know if there's going 371 00:20:10.160 --> 00:20:12.000 to be some sort of black Swan event that makes 372 00:20:12.039 --> 00:20:14.319 it crash, or there's just a healthy correction. 373 00:20:14.440 --> 00:20:17.480 We'll see. Right again, when I. 374 00:20:17.440 --> 00:20:21.960 See things overheated like this, I'm always worried because markets 375 00:20:22.039 --> 00:20:24.720 don't go up in the same direction forever, and you 376 00:20:24.799 --> 00:20:28.079 use the signals like the R side to see where 377 00:20:28.119 --> 00:20:30.880 if we're overbought or over sold, right, So when we 378 00:20:30.920 --> 00:20:33.799 are we were down in the oversold zone in March, 379 00:20:33.880 --> 00:20:37.319 I was like, hey, look we are getting ready to rally, 380 00:20:37.480 --> 00:20:40.440 but now that we are in the overbought zone, get 381 00:20:40.480 --> 00:20:44.799 ready for a pullback, right, So just be cautious, guys. Obviously, 382 00:20:44.799 --> 00:20:46.759 if you have the long term view, this is just 383 00:20:46.839 --> 00:20:49.559 ebbs and flows, as it's saying, goes. Time in the 384 00:20:49.559 --> 00:20:51.759 market is better than trying to time the market. So 385 00:20:52.160 --> 00:20:53.920 you want to obviously buy when it's blood on the 386 00:20:53.920 --> 00:20:57.640 streets and hold and position yourself, right, So this is 387 00:20:58.000 --> 00:21:00.880 where we get to watch it closely and hopefully you know, 388 00:21:00.920 --> 00:21:03.680 Bitcoin has one more run up to eighty five, and 389 00:21:03.759 --> 00:21:06.039 we want to see some rotation to the alts, which 390 00:21:06.039 --> 00:21:06.960 has already started. 391 00:21:07.079 --> 00:21:07.240 Right. 392 00:21:07.319 --> 00:21:10.519 We see total three has broken out individual all coins 393 00:21:10.519 --> 00:21:13.200 are starting to move, but I think there's still more 394 00:21:13.240 --> 00:21:17.200 to go here. Definitely. I think XRP is setting up 395 00:21:17.200 --> 00:21:19.559 to run as well. So we really got to be 396 00:21:19.599 --> 00:21:22.160 patient and see how this all plays out in the 397 00:21:22.160 --> 00:21:23.519 coming week and weeks. 398 00:21:23.839 --> 00:21:25.160 Anyway, guys, that's the news. 399 00:21:25.319 --> 00:21:26.920 Let me know what you think. Leave your thoughts and 400 00:21:26.960 --> 00:21:29.720 comments below. Hit the thumbs up button subscribe if you 401 00:21:29.759 --> 00:21:32.160