Speaker 1: Hey, everyone, welcome into the Thinking Crypto podcast. I'm your host,
Speaker 1: Tony Edward. On your way in. Please sit that subscribe
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Speaker 1: a comment below. If you're listening on a podcast platform
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Speaker 1: and leave a five star rating. Okay, folks, let's touch
Speaker 1: on the price really quick here. For Bitcoin, we are
Speaker 1: of course waiting for a relief rally from Bitcoin, which
Speaker 1: the all coins will follow. However, that's not guaranteed, and
Speaker 1: we're gonna have to watch and see what the stock
Speaker 1: market and such as the S and P five hundred
Speaker 1: and the NASDAC are going to do, because if they
Speaker 1: start rolling over and correcting, you know, that's going to
Speaker 1: put a damper on what crypto can do. But by
Speaker 1: the textbook, we have been in extreme oversould conditions, extreme fear.
Speaker 1: The extreme or the Fear and Greed index score has
Speaker 1: been the lowest it's ever been lowered end the COVID
Speaker 1: crash lowered than the FTX collapse in December twenty twenty two.
Speaker 1: So it's pretty ridiculous how oversold in a stream these
Speaker 1: things are. Sentiment is in the garbage and that's where
Speaker 1: you know, the markets love to do the opposite of
Speaker 1: the herd, because the herd right now, they have given
Speaker 1: up on crypto. Right it's done, it's dead and all that.
Speaker 1: But we know better, guys. Markets are cyclical, and even
Speaker 1: though we had a lackluster bull market you know, over
Speaker 1: the past two years or so with no major alcin season,
Speaker 1: I'm still very bullish because this acid class is very young.
Speaker 1: We haven't even gotten crypto regulation yet, right that is
Speaker 1: still being crafted and you know it's in the Senate
Speaker 1: and we're waiting for it to pass there and be
Speaker 1: signed into law. So there's a lot of things that
Speaker 1: have not been done yet. But institutions are bullish, and
Speaker 1: you know, all the major detractors and naysayers have capitulated.
Speaker 1: Just we need the regulation and then the macro conditions
Speaker 1: to align together. So Bitcoin, We're going to wait to
Speaker 1: see what the weekly closes tomorrow on Sunday, so I'll
Speaker 1: give you guys an update tomorrow as well. Right now,
Speaker 1: bitcoin is just below seventy k, So let's you know,
Speaker 1: hope and pray and have our fingers crossed for a
Speaker 1: relief rally and that could maybe just take us to
Speaker 1: eighty eighty five K. My hope is it goes higher,
Speaker 1: because the higher it goes, then we have more liquidity
Speaker 1: going to the all coins, and we know all coins
Speaker 1: typically outperform Bitcoin. I'm not saying we're going to new highs.
Speaker 1: I'm just saying a relief rally, right, So that is
Speaker 1: my hope and hopefully we get that, folks, So stay
Speaker 1: tuned for more details as the week progresses. Now, it's
Speaker 1: funny Scott Besson, the Secretary or the Treasury Secretary, he
Speaker 1: was recently interviewed and he said crypto investor's sentiment will
Speaker 1: rise once the Clarity Act is passed. I think so,
Speaker 1: And you know, I think crypto we need to see
Speaker 1: some sort of relief rally that will help people to
Speaker 1: get out of the depression mo they're in. It doesn't
Speaker 1: mean we can't roll over from that relief rally to
Speaker 1: go to new low So just be careful there, right,
Speaker 1: Just so you guys know, you got to keep that
Speaker 1: in the back of your mind. But I think if
Speaker 1: we are able to get this legislation bill through the
Speaker 1: Senate and then you know, sign into law, certainly you're
Speaker 1: going to start to see momentum build again. The sentiment
Speaker 1: will certainly change. So I'm in agreement here. We need
Speaker 1: to get this thing done and hopefully the banks and
Speaker 1: the crypto industry can find a compromise to get this
Speaker 1: thing done. But you know that may take another two months,
Speaker 1: you know, just to get through the whole process. So
Speaker 1: we're gonna have to be patient. Now here's some very
Speaker 1: big news coming out from X, which is formally known
Speaker 1: as Twitter. So Elon Muss is X to launch crypto
Speaker 1: and stock trading in a couple of weeks. This is big.
Speaker 1: It would be a huge, huge on rap Folks. We
Speaker 1: know Elon, he personally holds crypto. His companies like SpaceX
Speaker 1: and Tesla both hold bitcoin and their balance sheet. Elon
Speaker 1: personally holds bitcoin, e Theorem and dogecoin. So we've heard
Speaker 1: about this. You know. Elon wants to make X this
Speaker 1: financial app all in one, kind of like what you
Speaker 1: see in Asian markets. Would we chat if I'm not mistaken,
Speaker 1: but he wants all these things to happen on X, right,
Speaker 1: your the ability to trade, to have a wallet, to
Speaker 1: be able to send money, so users will be able
Speaker 1: to interact with ticker symbols and post and execute trades.
Speaker 1: Within the app. The company head of products said, x Money,
Speaker 1: the company's in house payments system, is preparing for an
Speaker 1: external beta launch within one to two months. So could
Speaker 1: this also dovetail with the Claritiac passing some sort of
Speaker 1: relief rally right moving with stocks and crypto and so forth. Possibly,
Speaker 1: But this would be big news once it's live. I
Speaker 1: mean there's a huge, huge community on x around crypto
Speaker 1: and not to mention other demographics, and that could really
Speaker 1: bring a lot of people onto these or into these markets.
Speaker 1: So the upcoming features described by the company's head a product,
Speaker 1: Nikita Bier, will include smart cash tags. This will allow
Speaker 1: users to interact with ticker symbols and post and execute
Speaker 1: trades from the app. Very very interesting. So we shall
Speaker 1: see how this rolls out and who they're working with
Speaker 1: to get is done. But nevertheless, very big news and folks.
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Speaker 1: US based DeFi group urges UKFCA to anchor crypto rules
Speaker 1: to unilateral control. This is big We're going to see
Speaker 1: across the globe. Many of these countries and jurisdictions are
Speaker 1: going to unify their rules right right now. There may
Speaker 1: be some differences, but they're going to get all on
Speaker 1: the same page because, as I've been telling you guys,
Speaker 1: the future governments, markets and economies will all run on
Speaker 1: blockchain rails. And in order for these different protocols and
Speaker 1: platforms to function appropriately, there's going to have to be
Speaker 1: similar rules. Right. It has to be one hundred percent
Speaker 1: carbon copy, but there has to be similarities where there
Speaker 1: isn't friction and roadblocks, right. So the DeFi Education Fund
Speaker 1: tells the FCA that regulatory obligations should apply only where
Speaker 1: there's unilateral control over user assets or transactions. The US
Speaker 1: based group argues non custodial DeFi developers should not be
Speaker 1: treated like centralized intermediaries. The DeFi Education Fund warns that
Speaker 1: applying trading platform prudential requirements and full money laundering laws
Speaker 1: to automated protocols would be structurally incompatible. So some of
Speaker 1: these folks in governments and so for they still don't
Speaker 1: grasp DeFi right. They don't realize there's no middleman, there's
Speaker 1: no intermediary that you that you know. It's a very
Speaker 1: different system and it's going to take a time for
Speaker 1: them to get up to speed and educate it. But
Speaker 1: regarding the DeFi Education Fund, I've had Amanda Touminelli on
Speaker 1: the podcast many times. I actually interviewed her last week,
Speaker 1: so that interview should be published soon where we talked
Speaker 1: about DeFi and all the complexities and how you know
Speaker 1: that some of the language will be fit or put
Speaker 1: into Declarity Act and much more so stay tuned for that. Okay,
Speaker 1: moving ahead, borg Stutguard Digital trade As agree to a
Speaker 1: merger to build European crypto hub. So across the globe
Speaker 1: we're seeing expansion on a lot of building. So BORI
Speaker 1: Stutguard Group, operator of one of Europe's largest stock exchanges,
Speaker 1: said it will merge its cryptocurrency business with Frankfurt based
Speaker 1: digital asset trading firm trade Is in a strategic move
Speaker 1: to expand its presence in institutional crypto markets. The transaction
Speaker 1: will consolidate about three hundred employees under a joint management
Speaker 1: team for both companies. According to a front the announcement,
Speaker 1: the combined unit aims to cover multiple digital asset services
Speaker 1: including brokerage, trading, custodies, staking and tokenized assets. It will
Speaker 1: look to listen to this. It will serve banks, brokers
Speaker 1: and other financial institutions across Europe, providing fully regulated cryptocurrency infrastructure.
Speaker 1: The announcement said, folks on ramps being built for more
Speaker 1: capital to come in from the for the biggest institutions
Speaker 1: and wealthy individuals. Again, this is not about retail anymore.
Speaker 1: This is to get the big money. And this is
Speaker 1: why I'm still bullish. Guys. Very very big news here. Okay, guys,
Speaker 1: a big update here. So Senator Warren and a Senator
Speaker 1: Kim looks like they're really going after Trump with World
Speaker 1: Liberty Financial and the UAES reported five hundred million dollars
Speaker 1: stake in the company. So, as we discussed in yesterday's podcast,
Speaker 1: Trump needs to slow the hell down. Man. He should
Speaker 1: not be doing all these crypto things. It's really going
Speaker 1: to put a roadblock in front of us for the
Speaker 1: Clarity Act. And hopefully, you know, we are still able
Speaker 1: to get it done. But he's not helping us right now.
Speaker 1: And look, two things can be true. Donald Trump has
Speaker 1: been better for crypto than you know, things were under
Speaker 1: Elizabeth Warren and Gary Genser, right, absolutely, but he's also
Speaker 1: taking advantage of the market, right And some people can't
Speaker 1: see that for the life of them, right, They their
Speaker 1: their politician can do no wrong. But I don't worship politicians, folks.
Speaker 1: I keep politicians accountable. Right. The government is supposed to
Speaker 1: work for the people. So we got to call it
Speaker 1: like we see it. You know, when Donald Trump was
Speaker 1: running and when he came into office, you know, we
Speaker 1: were saying, look, where's where's Kamala Harris? Where are all
Speaker 1: these people? They're not doing a great job. Donald Trump
Speaker 1: is now Trump is taking advantage of this market. So
Speaker 1: we got to call it like we see it. And
Speaker 1: he could he could potentially really stop this Clarity Act
Speaker 1: from passing, and I hope not, but you can see
Speaker 1: these people are not. They're going to use it against him,
Speaker 1: and he put himself in that place. So this really
Speaker 1: really sucks. And even people who are Republicans are calling
Speaker 1: it out. Here. Dave Weisberger, who I recently had on
Speaker 1: the podcast, you know, he tweeted out something that he
Speaker 1: agrees with Anthony Scaramucci, who's also a Republican, and he
Speaker 1: worked for Donald Trump for like ten days back in
Speaker 1: the twenty sixteen run. And he says, look, I have
Speaker 1: to agree with Anthony Scaramucci on Trump's meme coin Griff.
Speaker 1: It was a turning point. It galvanized half the country
Speaker 1: against crypto. It created in the minds of and he says,
Speaker 1: here Trump the arrangements syndrome adduled Democrats political cover to
Speaker 1: push the anti crypto army agenda and resist Clarity. He says,
Speaker 1: it is why the banks have an opening to push
Speaker 1: their anti competitive agenda. I think this is spot on.
Speaker 1: Those banks saw the Genius Act, they knew the Genius
Speaker 1: Act passed, and now all of a sudden, when the
Speaker 1: Clarity Act is getting to get pushed out, they're coming
Speaker 1: back say, oh no, no, we need to relitigate it
Speaker 1: to stop Slipcoronio. And your reason why is they know
Speaker 1: there's a bunch of Democrats in Congress and there's a
Speaker 1: cohort now saying, oh, look at Trump, look what he's
Speaker 1: doing with crypto. He's taking advantage, he's getting bribes, blah
Speaker 1: blah blah. Right, all those things, and some of it
Speaker 1: may be true, some of it may not be. But
Speaker 1: the point is it doesn't even need to be true.
Speaker 1: Just the optics. The optics. And this is that word
Speaker 1: I've used many times, folks. So even if you're a
Speaker 1: big Trump person and you're you know, you're a big supporter,
Speaker 1: you got to call it like you see it, right,
Speaker 1: if you're being intellectually honest, you got to call it
Speaker 1: like you see it. So my hope is that we
Speaker 1: are aware of this and we need to put the pressure.
Speaker 1: And uh, I just wish Trump would stop. But just recently,
Speaker 1: like we reported yesterday, truth Social launch or file for
Speaker 1: two crypto ETFs, we're liberty financials expanding to cross border
Speaker 1: payments and all kinds of stuff. And it's like, dude,
Speaker 1: wait till we get the Clarity Act. But I digress.
Speaker 1: It's frustrating. This is why I hate politics. I hate politicians,
Speaker 1: and hey, politics, Now that's not to say I don't
Speaker 1: respect people. Obviously respect I've had members of Congress on
Speaker 1: and there's certainly some really great people that I respect,
Speaker 1: But just the political realm it's so nasty and toxic
Speaker 1: and annoying sometimes. But I hope you guys get what
Speaker 1: I'm saying. All right, Moving ahead here, we got an
Speaker 1: update that Great Scale filed to convert their of a
Speaker 1: token trust into an ETF to list on the New
Speaker 1: York Stock Exchange arcup, So we're seeing more all coin
Speaker 1: ETFs being launched. And you know, again I've been saying,
Speaker 1: once the Clarity Act passes, I think that kicks off
Speaker 1: the supercycle. Not overnight obviously, but with all the institutions,
Speaker 1: all the on ramps, and that could be you know,
Speaker 1: the ballmarket we've been waiting for, you know, to match
Speaker 1: all the adoption we've been seeing, and then hopefully the
Speaker 1: macro aligns with that. We're more rate cuts, more quantitative easing,
Speaker 1: and so forth, because we're still in the early innings
Speaker 1: of those inspective items. So this is really great, and
Speaker 1: folks just want to let you guys know, I will
Speaker 1: be speaking at the Money Show Laws of Vegas coming
Speaker 1: up on February twenty second and twenty third, and I'll
Speaker 1: be talking crypto. Of course, I'll be doing a fireside
Speaker 1: chat on Sunday, February twenty second, and on Monday twenty
Speaker 1: February twenty third, I'll be on a panel talking about
Speaker 1: stable coins, to tokenization and much more. So. Just let
Speaker 1: you guys know if you're going to be attending the
Speaker 1: Money Show Las Vegas, and be sure to come check
Speaker 1: out those sessions if you're around. Folks, thank you so
Speaker 1: much for watching listening. I appreciate you all. Thank you,
Speaker 1: and be sure to subscribe if it haven't as yet,
Speaker 1: and please support the podcast by subscribing to my free
Speaker 1: email newsletter. It is one hundred percent free. Check out
Speaker 1: my book on Amazon, it's available in paperback in digital,
Speaker 1: and my course at Mycryptocurse dot com. All the links
Speaker 1: would be in the description. Folks, thank you for tuning in.
Speaker 1: I appreciate you all, and I'll talk to you all
Speaker 1: later