WEBVTT 1 00:00:00.280 --> 00:00:02.560 We are in a midterm election year and things are 2 00:00:02.560 --> 00:00:05.480 going to quickly focus to that where people are not 3 00:00:05.480 --> 00:00:08.359 going to want to talk about the Claritiacro bigcoin reserve anymore. 4 00:00:08.519 --> 00:00:10.119 It's going to be how can I win my or 5 00:00:10.160 --> 00:00:12.599 keep my seat or you know, support this candidate to win. 6 00:00:13.080 --> 00:00:14.839 You know, the game of politics. 7 00:00:14.400 --> 00:00:16.960 Is going to get nasty, it's in the news cycle 8 00:00:17.039 --> 00:00:19.600 is going to go crazy, and crypto will not be 9 00:00:19.760 --> 00:00:20.559 a high priority. 10 00:00:21.079 --> 00:00:23.839 Yeah, I'm looking forward to that. It's like I do 11 00:00:23.920 --> 00:00:27.320 think legislation. I'm looking forward to it being not such 12 00:00:27.320 --> 00:00:31.000 a topic anymore and just being something that enters into 13 00:00:31.039 --> 00:00:33.679 this industry so that because regulation at the end of 14 00:00:33.679 --> 00:00:34.960 the day, I'm sorry it is boring. 15 00:00:40.479 --> 00:00:43.039 This episode is brought to you by I Trust Capital. 16 00:00:43.200 --> 00:00:46.039 I Trust Capital allows you to invest in crypto as 17 00:00:46.039 --> 00:00:48.960 well as precious battles like gold and silver via an 18 00:00:49.000 --> 00:00:52.520 IRA and this gives you huge tax advantages, so you 19 00:00:52.520 --> 00:00:57.000 can invest in over ninety crypto assets, including Bitcoin, e Theorem, 20 00:00:57.119 --> 00:00:59.640 x or Piece, Solana, and many more. 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Again, you 59 00:02:54.159 --> 00:02:56.479 can get one hundred dollars funding bonus by signing up 60 00:02:56.639 --> 00:02:59.439 via my link, which is I Trustcapital dot Com slash 61 00:02:59.439 --> 00:03:01.039 Go slash Thinking Crypto. 62 00:03:01.319 --> 00:03:02.680 Link will be in the description. 63 00:03:03.120 --> 00:03:06.680 Hey everyone, welcome into the Thinking Crypto podcast Crypto water 64 00:03:06.719 --> 00:03:07.520 Cooler series. 65 00:03:07.759 --> 00:03:10.800 I'm Tony Edward and I'm Amanda Wackcroft and. 66 00:03:10.680 --> 00:03:13.439 We're going to dive into the latest and greatest crypto 67 00:03:13.599 --> 00:03:15.039 news that you need to know about. 68 00:03:15.479 --> 00:03:18.080 Amanda. Good to see you. Happy Friday, you. 69 00:03:18.080 --> 00:03:20.319 Too, Happy Friday. We made it another week. 70 00:03:20.759 --> 00:03:22.039 Yeah, right, another week. 71 00:03:22.520 --> 00:03:22.639 You know. 72 00:03:22.680 --> 00:03:25.120 Bitcoin is actually up this morning. It's over seventy eight 73 00:03:25.120 --> 00:03:27.680 thousand dollars. That's a good sign. I don't know how 74 00:03:27.680 --> 00:03:29.719 long it will last because I feel like we're still 75 00:03:29.759 --> 00:03:31.599 in the bear market, but it's good to see some green. 76 00:03:31.960 --> 00:03:35.280 Absolutely, especially coming off the Bitcoin conference. They imagine that that, 77 00:03:35.439 --> 00:03:37.000 you know, had something to do with it. 78 00:03:37.759 --> 00:03:41.680 Yeah, there were some interesting announcement announcements coming out of 79 00:03:41.680 --> 00:03:45.400 the conference. But I'm hearing some not so good things 80 00:03:45.479 --> 00:03:47.759 about the Bitcoin Las Vegas conference. 81 00:03:48.159 --> 00:03:50.199 You know, I won't name an I won't give a name, 82 00:03:50.240 --> 00:03:50.719 but I did. 83 00:03:51.520 --> 00:03:53.680 I ran into one of the CEOs of an all 84 00:03:53.719 --> 00:03:56.759 coin project at the airport in Las Vegas. I was 85 00:03:57.000 --> 00:03:59.879 out in the desert as I was not at the conference, 86 00:04:00.159 --> 00:04:01.520 but he was saying it was a bit of a 87 00:04:01.520 --> 00:04:03.479 low turnout, not as exciting. 88 00:04:03.800 --> 00:04:04.000 You know. 89 00:04:04.000 --> 00:04:07.080 He gave an example of Eric Trump's speech. There was 90 00:04:07.120 --> 00:04:09.680 only about sixty people in the room there for that, 91 00:04:09.840 --> 00:04:11.680 so not really a great turnout. 92 00:04:12.800 --> 00:04:16.240 Yeah, I think there's a really interesting split happening in 93 00:04:16.279 --> 00:04:20.000 crypto right now. And you know, not for lack of buzzwords, 94 00:04:20.000 --> 00:04:22.399 but it really is between signal and noise. And on 95 00:04:22.399 --> 00:04:25.160 one side you've got a real infrastructure getting built, you know, 96 00:04:25.199 --> 00:04:28.759 you've got the payments and regulation and institutional rails. And 97 00:04:28.800 --> 00:04:30.879 on the other side, you've got what I like to 98 00:04:30.879 --> 00:04:34.160 call conference theater and the hype cycles that feel increasingly 99 00:04:34.199 --> 00:04:37.240 disconnected from reality. You know, And I tweeted this morning, 100 00:04:37.240 --> 00:04:39.439 I mean the general admission to go to this conference 101 00:04:39.519 --> 00:04:41.959 was six p ninety nine. Now I doubt most of 102 00:04:42.000 --> 00:04:43.839 the masses are doing that because it doesn't get you 103 00:04:43.879 --> 00:04:47.759 access to certain panels or meeting people. So you're paying 104 00:04:47.879 --> 00:04:50.639 that next tier is twenty one hundred a ticket. I 105 00:04:50.680 --> 00:04:52.079 don't know who can afford. 106 00:04:51.759 --> 00:04:55.360 This, Yeah, especially in today's economy, and not to mention 107 00:04:55.560 --> 00:04:58.839 we are in a bear market. There's not much excitement, 108 00:04:58.920 --> 00:05:00.519 and I don't think a lot of people are profit 109 00:05:00.600 --> 00:05:01.079 right now. 110 00:05:01.240 --> 00:05:02.639 I think a lot of people are in the red. 111 00:05:03.079 --> 00:05:06.480 And you know, those ticket prices, they just seem like 112 00:05:06.519 --> 00:05:09.879 they're catering for maybe institutional folks. So it's no longer 113 00:05:09.920 --> 00:05:13.639 about the average Joe getting access to bitcoin. It feels 114 00:05:13.720 --> 00:05:15.279 like it's become this exclusive club. 115 00:05:16.240 --> 00:05:19.040 It sure does, and it's you know, as a capitalist, 116 00:05:19.040 --> 00:05:22.920 I understand that your influencers who are there, your sponsors 117 00:05:22.959 --> 00:05:25.639 who are there, they're contracted to do it, and they're 118 00:05:25.680 --> 00:05:27.519 doing a job and they're getting paid to be there. 119 00:05:27.519 --> 00:05:30.079 And I think that's where it's extremely important to differentiate 120 00:05:30.160 --> 00:05:35.000 between who's actually there because it's their job, and who's 121 00:05:35.040 --> 00:05:38.160 who's there to actually learn a network. Because I don't 122 00:05:38.199 --> 00:05:41.879 think a lot was taken out from a substance perspective 123 00:05:41.920 --> 00:05:43.680 from this conference. I was watching a lot of the 124 00:05:43.720 --> 00:05:47.079 reshared posts, even from Eric Trump, and it's a lot 125 00:05:47.120 --> 00:05:50.680 of recycled talking points that simply if you're living in 126 00:05:50.680 --> 00:05:53.959 crypto Twitter, you're kind of you're already hearing these things. 127 00:05:54.959 --> 00:05:57.720 Yeah, to your point, there's doesn't seem to be anything new. 128 00:05:59.000 --> 00:06:01.920 While we got it up date from let's say Patrick Witt, 129 00:06:01.920 --> 00:06:04.759 the White House crypto advisor, that there may be some 130 00:06:04.800 --> 00:06:08.279 significant news coming in the near term regarding the strategic 131 00:06:08.319 --> 00:06:11.600 Bigcoin Reserve. We've been hearing that for months, right, We've 132 00:06:11.639 --> 00:06:13.839 been hearing all these things. It's coming, it's coming, and 133 00:06:14.000 --> 00:06:16.759 there's nothing new like why do I need to go 134 00:06:16.759 --> 00:06:19.639 to the bigcoin conference. Maybe if I'm brand new to crypto, 135 00:06:19.800 --> 00:06:21.480 I may want to go, but it's still the prices 136 00:06:21.480 --> 00:06:22.519 are very high. 137 00:06:22.600 --> 00:06:25.600 But if I already own some bigcoin, there's not reason. 138 00:06:25.680 --> 00:06:26.800 There's not a reason for me to go. 139 00:06:27.480 --> 00:06:27.560 No. 140 00:06:28.000 --> 00:06:30.680 And that's and remember too, like I'm just I'm mentioning 141 00:06:30.720 --> 00:06:33.199 the ticket prices. You know, I'm leaving out the fact 142 00:06:33.279 --> 00:06:36.040 that you have to get a hotel, you have to 143 00:06:36.040 --> 00:06:38.360 get airfare, and let's say oil prices are through the 144 00:06:38.439 --> 00:06:41.639 roof because of our involvement in Iran right now, So 145 00:06:41.720 --> 00:06:45.480 I really, on average on the low end, you're talking 146 00:06:45.519 --> 00:06:48.519 about the average person spending roughly seven to eight grand 147 00:06:48.680 --> 00:06:51.319 just to be there. And then again, what are you 148 00:06:51.319 --> 00:06:54.399 getting out of it? You've got Tim Draper on the floor, 149 00:06:54.439 --> 00:06:56.759 who I saw was in a lot of selfies with people. 150 00:06:57.199 --> 00:06:59.639 And again there's also the origin story of bitcoin being 151 00:06:59.639 --> 00:07:02.079 the decent centralized peer to peer network. I realized it's 152 00:07:02.079 --> 00:07:04.839 matured much more and we have the you know, convergence 153 00:07:04.879 --> 00:07:07.680 of trad fine now, but I think that's where the 154 00:07:07.720 --> 00:07:10.519 conference needs to shift with that, you know, Fintech Week 155 00:07:10.560 --> 00:07:12.839 in New York was also this week, and I feel 156 00:07:12.839 --> 00:07:15.800 like it was completely overshadowed by the hype of bitcoin. 157 00:07:15.879 --> 00:07:19.399 But meanwhile, Fintech Week had more substance. There were more 158 00:07:19.480 --> 00:07:23.959 institutional players on the ground at that conference, and most 159 00:07:23.959 --> 00:07:26.959 of their side events were free simply through an our SVPs. 160 00:07:27.040 --> 00:07:29.839 So I think we really need to navigate what we 161 00:07:29.879 --> 00:07:32.319 should be paying attention. But I also think that the 162 00:07:32.360 --> 00:07:34.000 silver lining of all of this is I think it 163 00:07:34.199 --> 00:07:37.680 goes to prove that the space is maturing because the 164 00:07:38.079 --> 00:07:41.199 Vegas conference and the big you know people are no 165 00:07:41.279 --> 00:07:43.639 longer convening at these types of places. 166 00:07:44.639 --> 00:07:48.639 That's spot on, and some of the fintech event side 167 00:07:48.720 --> 00:07:50.680 shows and after events and so forth. 168 00:07:50.720 --> 00:07:51.839 I got invites to them. 169 00:07:52.160 --> 00:07:54.199 They it wouldn't have cost me anything to go to them, 170 00:07:54.519 --> 00:07:55.680 Unfortunately I was traveling. 171 00:07:55.959 --> 00:07:57.680 But to your point, things have shifted. 172 00:07:57.800 --> 00:08:02.879 There is much more of a crowdsourcing and focus on 173 00:08:02.920 --> 00:08:05.399 the building that's happening on Wall Street. And guess what, 174 00:08:05.439 --> 00:08:08.000 the Wall Street folks and not really attending bitcoin at 175 00:08:08.040 --> 00:08:11.759 Las Vegas, right, They're gonna be having their own uh 176 00:08:11.800 --> 00:08:14.759 summits and uh maybe on a more intimate level. And 177 00:08:14.800 --> 00:08:17.920 to your point, there's substance, there's talks of what they're 178 00:08:18.000 --> 00:08:22.160 building and Atlas Bigcoin Las Vegas. I don't think there's 179 00:08:22.160 --> 00:08:24.639 any talks about building. It's just hey, bigcoin's great, big 180 00:08:24.639 --> 00:08:27.680 coins the story value. But like you said, we've seen 181 00:08:27.720 --> 00:08:28.600 and heard that before. 182 00:08:29.199 --> 00:08:30.319 Yeah. Yeah. 183 00:08:30.360 --> 00:08:32.320 And somebody who I really respect and follow on to 184 00:08:32.759 --> 00:08:35.200 Haley Lennon, you know, she was she was going on 185 00:08:35.240 --> 00:08:38.720 about where I'm tired of bitcoin being this this flagship 186 00:08:38.720 --> 00:08:41.159 conference being in Vegas. I think there's also that as well, 187 00:08:41.200 --> 00:08:45.360 where uh again, we're trying to legitimize this, this asset 188 00:08:45.440 --> 00:08:48.399 being so speculative for so many years to the masses. 189 00:08:48.879 --> 00:08:51.440 I don't think it's a it's prudent to do it 190 00:08:51.960 --> 00:08:55.919 at the one of the biggest casino cities in this country. 191 00:08:56.440 --> 00:08:59.240 That's such a great point, like we're trying to get 192 00:08:59.240 --> 00:09:02.000 away from the cas you know, mindset right right, and 193 00:09:02.039 --> 00:09:05.279 that this is a mature asset that you can hold 194 00:09:05.279 --> 00:09:08.919 in your portfolio long term, maybe towards your retirement, treated 195 00:09:08.960 --> 00:09:12.360 as gold, not go through it on black or red. 196 00:09:12.559 --> 00:09:15.799 Amanda, Yeah, that's what we're doing. 197 00:09:16.279 --> 00:09:18.200 Yeah, but I agree with you. 198 00:09:18.240 --> 00:09:21.159 I think the one thing that came out of well 199 00:09:21.240 --> 00:09:23.240 two things, I think Patrick Witt, which I know we've 200 00:09:23.279 --> 00:09:26.879 heard before, but also Senator Loomis, who is saying we're 201 00:09:26.879 --> 00:09:29.120 close to a mid May markup. You know, what are 202 00:09:29.159 --> 00:09:31.120 your thoughts on that, because I know she's also been 203 00:09:31.159 --> 00:09:32.600 tweeting that a lot. 204 00:09:33.159 --> 00:09:36.799 Yeah, and that's kind of annoying, even though I appreciate 205 00:09:36.840 --> 00:09:39.799 Senator Lumbus and the work she's done, but constantly saying 206 00:09:39.799 --> 00:09:41.720 the same thing over and over. But well, we're not 207 00:09:41.799 --> 00:09:46.120 seeing the actual action, so to speak. Right the rubbers 208 00:09:46.120 --> 00:09:48.960 not hitting the road here. So I don't know what 209 00:09:49.080 --> 00:09:51.799 is happening in DC right now. We're hearing we're close 210 00:09:51.840 --> 00:09:54.360 to compromise with the banks on the staplecorn yield situation, 211 00:09:54.440 --> 00:09:55.759 which is holding up the Claritiac. 212 00:09:56.399 --> 00:09:57.120 There's talks of. 213 00:09:57.120 --> 00:09:58.879 Oh, we're going to have a draft out and we're 214 00:09:58.879 --> 00:10:01.200 going to start the mark up, and then that gets delayed. 215 00:10:01.679 --> 00:10:04.559 So I don't know what is happening. I'm seeing tweets, 216 00:10:04.559 --> 00:10:07.240 I'm seeing people make statements, but there's no action. There's 217 00:10:07.279 --> 00:10:09.600 no uh, nothing coming to fruition. 218 00:10:10.200 --> 00:10:12.600 No. And then you have Brad Garlinghouse who comes at 219 00:10:12.600 --> 00:10:15.320 the at the tail end of this thing, and there 220 00:10:15.399 --> 00:10:17.919 was the XRP convention at the tail end of a 221 00:10:17.960 --> 00:10:21.879 bitcoin the Bitcoin conference, and and he's he's saying this 222 00:10:22.039 --> 00:10:25.679 we've lost We've lost the opportunity or windows over. So 223 00:10:25.720 --> 00:10:29.639 it's it's yeah, it's weird to see this divide amongst 224 00:10:29.639 --> 00:10:33.600 you know, all very intelligent, powerful leaders, and so I 225 00:10:33.600 --> 00:10:34.279 don't know what to. 226 00:10:34.279 --> 00:10:34.799 Make of it. 227 00:10:35.480 --> 00:10:40.360 Yeah, it's it's really frustrating, and my hope. Look, there 228 00:10:40.559 --> 00:10:41.960 is a little bit of time because you and I 229 00:10:42.000 --> 00:10:45.200 spoke to Patrick Witt at this Swana policy summit where 230 00:10:45.240 --> 00:10:47.519 he said, look, I think the latest is by the 231 00:10:47.600 --> 00:10:50.240 August recess, so we do have some time. 232 00:10:50.279 --> 00:10:51.679 But it's not looking good, Amanda. 233 00:10:51.759 --> 00:10:54.360 Like my confidence level is also dropping, Like we keep 234 00:10:54.399 --> 00:10:56.759 saying hearing the same thing over and over, but nothing's 235 00:10:56.759 --> 00:10:57.720 happening right. 236 00:10:58.120 --> 00:11:00.720 And it's to me, you know, I kind of laugh, like, 237 00:11:00.759 --> 00:11:04.039 are do people show up to bitcoin the Bitcoin conference 238 00:11:04.039 --> 00:11:06.840 and Senator Lummis uh, you know, gets up on stage saying, 239 00:11:06.879 --> 00:11:09.399 all right, guys, it's not gonna happen in May. What 240 00:11:09.519 --> 00:11:12.519 is she I think she has to to advocate for 241 00:11:12.559 --> 00:11:15.000 it or champion it in some way other way. I 242 00:11:15.039 --> 00:11:17.720 don't see the alternative happening, So I do. I am 243 00:11:17.840 --> 00:11:19.519 concerned that this won't happen this year. 244 00:11:20.600 --> 00:11:24.519 Yeah, it's gonna be tough. I am curious. You know, 245 00:11:24.639 --> 00:11:27.799 Patrick Wood didn't mention about the Strategic Bitcoin Reserve. I 246 00:11:27.840 --> 00:11:30.159 want to. I'm really curious what that might be. 247 00:11:30.519 --> 00:11:32.200 You know, are they going to figure out a revenue 248 00:11:32.240 --> 00:11:34.200 neutral way to buy bitcoin? 249 00:11:34.480 --> 00:11:36.480 Although I feel the Clarity Act is more. 250 00:11:36.320 --> 00:11:40.399 Important than the Strategic Bitcoin Reserve because President Trump signed 251 00:11:40.399 --> 00:11:44.159 the executive order, they are taking all the bitcoin confiscated 252 00:11:44.159 --> 00:11:46.679 by the different government agencies and putting it into that reserve. 253 00:11:46.879 --> 00:11:48.799 But everybody wants to know, hey, are you going to 254 00:11:48.879 --> 00:11:49.600 start buying? 255 00:11:50.000 --> 00:11:52.039 And I think that's that would be a huge catalyst 256 00:11:52.399 --> 00:11:55.000 and drive a lot of fomo. But I'm also not 257 00:11:55.120 --> 00:11:57.759 optimistic about that. If we can get the Clarity Act 258 00:11:57.799 --> 00:12:00.639 through that, you know, Congress is going to be like, yeah, 259 00:12:00.679 --> 00:12:01.519 go buy bitcoin. 260 00:12:02.080 --> 00:12:04.320 Yeah, it's you know, and it would be if this 261 00:12:04.440 --> 00:12:04.879 is true. 262 00:12:05.200 --> 00:12:08.480 It's a massive narrative shift, but it's it, and it 263 00:12:08.519 --> 00:12:11.720 does mirror how the government treats gold reserves, energy reserves. 264 00:12:11.720 --> 00:12:13.519 But we have to be realized as to your point, 265 00:12:13.600 --> 00:12:16.960 we've heard these big announcements coming before in crypto and policy. 266 00:12:17.120 --> 00:12:20.279 So while I think the market is cautiously optimistic, we 267 00:12:20.320 --> 00:12:23.519 can't just you know, the idea isn't crazy anymore. 268 00:12:23.519 --> 00:12:24.440 I think that's the shift. 269 00:12:24.559 --> 00:12:27.279 A few years ago this would have sounded absolutely insane. 270 00:12:28.240 --> 00:12:31.840 But so I am optimistic in that sense. I just 271 00:12:31.879 --> 00:12:35.080 don't know how the timeline of this, you know, clarity 272 00:12:35.240 --> 00:12:37.639 seems to be contingent on a lot of this happening. 273 00:12:39.399 --> 00:12:42.000 Yeah, and then you know, we are in a midterm 274 00:12:42.039 --> 00:12:44.799 election year and things are going to quickly focus to 275 00:12:44.879 --> 00:12:46.840 that where people are not going to want to talk 276 00:12:46.840 --> 00:12:49.679 about the Clarity, Acro, Bigcoin Reserve anymore. It's going to 277 00:12:49.720 --> 00:12:51.519 be how can I win my or keep my seat 278 00:12:51.600 --> 00:12:53.360 or you know, support this candidate to win. 279 00:12:53.840 --> 00:12:56.000 You know, the game of politics is going to get nasty. 280 00:12:56.080 --> 00:12:59.120 It's the news cycle is going to go crazy, and 281 00:12:59.240 --> 00:13:01.320 crypto will not be a high priority. 282 00:13:01.840 --> 00:13:03.120 Yeah, I'm looking forward to that. 283 00:13:03.639 --> 00:13:07.159 It's like I do think legislation, I'm looking forward to 284 00:13:07.200 --> 00:13:10.240 it being not such a topic anymore and just being 285 00:13:10.320 --> 00:13:14.000 something that enters into this industry. So that because regulation, 286 00:13:14.080 --> 00:13:15.720 at the end of the day, I'm sorry, it is boring, 287 00:13:16.080 --> 00:13:19.320 but until it unlocks trillions in capital and now we're 288 00:13:19.360 --> 00:13:22.639 incentivizing innovation and we're bringing it all here into this country. 289 00:13:23.879 --> 00:13:25.879 Yeah, we got to get it done. 290 00:13:25.960 --> 00:13:28.320 But and then to your point, I am also getting 291 00:13:28.360 --> 00:13:31.159 tired of it, and I wish we can get it 292 00:13:31.200 --> 00:13:33.559 done and just move forward and just get to building 293 00:13:33.600 --> 00:13:36.440 and innovation and creating jobs and new companies and like 294 00:13:36.480 --> 00:13:38.600 you said, bringing some of those companies back to. 295 00:13:38.559 --> 00:13:39.399 The US at luck. 296 00:13:39.759 --> 00:13:40.480 Yeah exactly. 297 00:13:41.759 --> 00:13:46.759 Now, speaking of companies that are building Amanda Tether, I mean, 298 00:13:46.799 --> 00:13:51.200 they just released their Q one twenty six attestation. Over 299 00:13:51.320 --> 00:13:55.759 one billion dollars in revenue. If I'm not missing our profit, 300 00:13:56.000 --> 00:13:58.720 let me just able check here. Yeah, net profits over 301 00:13:58.759 --> 00:14:00.679 one billion dollars in net off. It's for Q one 302 00:14:00.720 --> 00:14:01.440 twenty twenty six. 303 00:14:01.679 --> 00:14:05.039 They're doing acquisitions and much more. This company is going 304 00:14:05.039 --> 00:14:05.919 to bananas mad. 305 00:14:06.399 --> 00:14:06.799 Yeah. 306 00:14:06.879 --> 00:14:08.720 I mean this is again back to my point of 307 00:14:09.120 --> 00:14:12.200 well everyone's arguing about bitcoin narratives. You know here again 308 00:14:12.279 --> 00:14:15.799 signal versus noise. Tether is quietly becoming one of the 309 00:14:15.879 --> 00:14:19.080 most important financial institutions in the world. I actually was 310 00:14:19.080 --> 00:14:21.039 on the phone yesterday with my friend who's an MD 311 00:14:21.120 --> 00:14:22.120 at Canna Fitzgerald. 312 00:14:22.759 --> 00:14:24.519 They just partnered with Tether and. 313 00:14:24.919 --> 00:14:27.600 I did not know that, which makes them extremely marketable 314 00:14:27.639 --> 00:14:33.000 for IPOs and capital raises for portfolio clients and potentials. 315 00:14:33.039 --> 00:14:38.200 But you know, they're expanding beyond just USDT, so they're 316 00:14:38.240 --> 00:14:41.440 acting essentially like a shadow bank, and I think that's brilliant. 317 00:14:42.159 --> 00:14:44.759 Yeah, it's fascinating. You know, there's usually a lot of 318 00:14:44.759 --> 00:14:47.720 flood around Tether that has been for many years. Look, 319 00:14:48.000 --> 00:14:49.960 I want to make sure i'm fair because I interviewed 320 00:14:50.039 --> 00:14:52.759 some of the co founders of Tether back in the day. 321 00:14:52.799 --> 00:14:55.399 I don't think there the ship was in the right place. 322 00:14:55.440 --> 00:14:57.960 But they've I think, you know, cleaned up their books 323 00:14:57.960 --> 00:15:02.679 and everything is copaesetic now and while there's people still 324 00:15:02.720 --> 00:15:06.279 focusing on fud, this company continues to build that one 325 00:15:06.320 --> 00:15:09.240 of the most profitable companies in the world. They're doing 326 00:15:09.320 --> 00:15:11.960 a lot of investments now, there's talks of them proposing 327 00:15:12.000 --> 00:15:16.080 a merger with twenty one Capital. They're investing in AHI, 328 00:15:16.679 --> 00:15:22.039 they're doing tokenization of gold. It's amazing what Teather has become. 329 00:15:22.279 --> 00:15:25.320 And you know, do they even need to go public 330 00:15:25.399 --> 00:15:27.120 with the amount of money they're working. 331 00:15:27.679 --> 00:15:29.159 Yeah, it's so funny that you say that. 332 00:15:29.200 --> 00:15:32.639 I feel like the IPO has almost lost its luster 333 00:15:32.759 --> 00:15:35.320 a little bit. You know, IPOs are happening so and 334 00:15:35.480 --> 00:15:39.120 I think that was being pushed largely again to legitimize 335 00:15:39.120 --> 00:15:42.720 this industry, and I don't know exactly the whole the 336 00:15:42.799 --> 00:15:45.840 vetting process of going public, but it does seem to 337 00:15:45.879 --> 00:15:50.080 be at a rapid rate where it's it's losing it's Yeah, 338 00:15:50.120 --> 00:15:52.519 I don't think it's at what it once was. 339 00:15:54.200 --> 00:15:58.960 Yeah, and I'm curious, you know why that is. I 340 00:15:59.000 --> 00:15:59.240 don't know. 341 00:15:59.240 --> 00:16:02.159 People are a little bit jaded. It's also economic. You know, 342 00:16:02.279 --> 00:16:05.639 we're not in a great economic position where people have 343 00:16:05.720 --> 00:16:08.799 extra money to invest right or they're feeling very optimistic, 344 00:16:08.879 --> 00:16:10.159 Oh you know what, I'm going to go out and 345 00:16:10.159 --> 00:16:12.639 invest in this company to go in public. There's not 346 00:16:12.759 --> 00:16:16.360 that fervor, there's not that excitement. Again, we reference on 347 00:16:16.480 --> 00:16:19.879 the economic situation. So maybe in the cyclical aspect of 348 00:16:19.919 --> 00:16:23.159 markets in the economy, once we're back in a better 349 00:16:23.279 --> 00:16:26.759 place as an economy and there's more companies going public, 350 00:16:26.759 --> 00:16:29.240 people will get more excited. But also to your point, 351 00:16:29.240 --> 00:16:33.200 I don't know if there's an underlying jadedness here that hey, 352 00:16:33.919 --> 00:16:35.000 ibl is who cares? 353 00:16:35.559 --> 00:16:37.600 Yeah, I hope that changes too. 354 00:16:37.600 --> 00:16:40.559 And I agree the economy, you know, and again going 355 00:16:40.600 --> 00:16:43.440 back to the Bitcoin conference and really just the opinions 356 00:16:43.480 --> 00:16:45.759 on a lot. Right now, we have a new administration 357 00:16:45.799 --> 00:16:49.759 where there's also now a divide, but you have a 358 00:16:49.960 --> 00:16:54.039 lot more innovation things being built that they could not 359 00:16:54.120 --> 00:16:57.320 have otherwise done under the previous administration, or I think 360 00:16:57.360 --> 00:16:59.960 even if we had Kamala Harris come in as president. 361 00:17:00.120 --> 00:17:03.240 So while we should be very grateful for those things, 362 00:17:03.279 --> 00:17:08.920 there's also a foundation, you know, economically that we I 363 00:17:08.960 --> 00:17:11.440 think we had to almost break apart to build back. 364 00:17:11.480 --> 00:17:14.160 And I'm hopeful and I have to remain hopeful. I 365 00:17:14.160 --> 00:17:17.000 think you and I both tony as parents for the future, 366 00:17:17.480 --> 00:17:19.400 you know that we're raising our children in that this 367 00:17:19.480 --> 00:17:20.200 does get better. 368 00:17:21.559 --> 00:17:24.880 Oh yeah, absolutely, And I reference that you know it's cyclical, 369 00:17:24.960 --> 00:17:28.759 so I don't While people get sometimes distracted by politics 370 00:17:28.759 --> 00:17:31.000 and this side versus this side, there are certain things 371 00:17:31.039 --> 00:17:34.720 that no party can control because it's the cyclical nature. 372 00:17:34.880 --> 00:17:37.799 Money printing, right and having to fight the inflation after 373 00:17:37.799 --> 00:17:41.599 you printed records amount of capital dollars and so forth. 374 00:17:42.000 --> 00:17:44.480 So I think we're going through that right now that 375 00:17:44.759 --> 00:17:47.440 no one president, regardless it was Kamala Harris or President Trump, 376 00:17:47.440 --> 00:17:50.880 could actually change that. That is not something that is 377 00:17:50.960 --> 00:17:53.519 usually broadcast in the mainstream. A lot of people actually 378 00:17:53.559 --> 00:17:56.799 don't know how the economic and money system works. I 379 00:17:56.880 --> 00:17:59.720 always say if people knew what was happening at the FED, 380 00:18:00.000 --> 00:18:02.400 they would probably riot around the Federal Reserve building. That 381 00:18:02.440 --> 00:18:05.160 I'm not telling people to do that, so Federal Reserve 382 00:18:05.240 --> 00:18:06.920 people of that, I don't want any in trouble. But 383 00:18:07.240 --> 00:18:09.920 if they understood what was happening to their currency and 384 00:18:10.319 --> 00:18:14.119 the impact that has, they would probably be really really 385 00:18:14.200 --> 00:18:17.359 upset about the FED. But they you know, there's the 386 00:18:17.400 --> 00:18:20.119 Democrats versus Republican and the independent in the middle and 387 00:18:20.759 --> 00:18:22.759 U that's just how the show goes. 388 00:18:23.240 --> 00:18:26.400 Yeah, and the great choice of word the show. You know, 389 00:18:26.440 --> 00:18:29.200 I think we need an America first party to emerge 390 00:18:29.960 --> 00:18:34.039 after especially as we're seeing new digital currency coming in. 391 00:18:34.480 --> 00:18:36.599 I think with that we need to see new leaders 392 00:18:36.640 --> 00:18:38.079 come in and take the reins. 393 00:18:39.119 --> 00:18:39.440 Yeah. 394 00:18:39.480 --> 00:18:42.359 Absolutely, Look, I'm optimistic that you know will come out 395 00:18:42.359 --> 00:18:46.640 of Look, look, we always have these recessionary periods. It's 396 00:18:46.720 --> 00:18:49.440 just part of how the economy works. Obviously, it's rough 397 00:18:49.519 --> 00:18:51.400 and I'm not saying it's an easy thing to go through, 398 00:18:51.839 --> 00:18:55.319 but it's par for the course. Unfortunately, unless the money 399 00:18:55.319 --> 00:18:58.240 system changes at some point in the future, they're going 400 00:18:58.319 --> 00:18:59.839 to have to keep printing and I think they. 401 00:18:59.759 --> 00:19:00.480