Speaker 1: Hey, folks, welcome into the Thinking Crypto podcast. You're home
Speaker 1: for cryptocurrency news and interviews. I'm your host, Tony Edward.
Speaker 1: On your way in. Please sit that subscribe button as
Speaker 1: well 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 five star rating and review. Folks,
Speaker 1: make sure you watch and listen to the end. We've
Speaker 1: got big updates around Democrats and what they're planning to
Speaker 1: do with the Claritiac. It's actually positive. Michael Burry is
Speaker 1: shorting bitcoin and he shared a chart today. Plus the
Speaker 1: CME is looking to launch its own token. That's pretty big.
Speaker 1: Let's get into it, Okay, folks, we got to start
Speaker 1: with Michael Burry. Many of you know, if you've seen
Speaker 1: the movie The Big Short, he is a big time bear,
Speaker 1: always looking to short markets rate and he got it
Speaker 1: right into Great Financial Crisis, looking at mortgage securities and
Speaker 1: all these things. But he's gotten a lot wrong since then.
Speaker 1: And one of the things I often state is many
Speaker 1: of these bears, they've become a little bit delusional, not
Speaker 1: realizing that governments are going to use the money printer.
Speaker 1: Since two thousand and eight, they figured out the way
Speaker 1: to solve a lot of the problems and prevent deep
Speaker 1: market crashes is to print money. Now, that doesn't mean
Speaker 1: he's going to be wrong all the time. He could
Speaker 1: be right in different ways. I think he was right
Speaker 1: about Palenteer if I'm not mistaken, don't quote me on that.
Speaker 1: But anyway, he shared a chart today on x stating
Speaker 1: BTC patterns and showing a bear setup that almost like
Speaker 1: we're mimicking twenty twenty two in the bear market, right,
Speaker 1: So is he right? It's possible, But let's look at
Speaker 1: the data, right, because he didn't provide much data. All
Speaker 1: he did was provide the chart and pointed arrows at
Speaker 1: the structure. But it's not just about structure, it's about
Speaker 1: the supporting conditions in the market. Right. And remember Bury
Speaker 1: is shorting, so he's going to try to put fear
Speaker 1: out there and all these things. Again, I'm not saying
Speaker 1: he's wrong, but I like to look at the facts,
Speaker 1: not be sensationalized or emotional about these things, saying percentage
Speaker 1: of a chance here that he has a valid point
Speaker 1: and maybe things are going to go lower. So one
Speaker 1: of the things I've been highlighting is that the RSI
Speaker 1: on the daily, weekly and even the monthly is approaching
Speaker 1: over soul levels and bottom levels, which we've seen throughout
Speaker 1: previous bear markets. So markets don't go in one direction forever.
Speaker 1: They're cyclical. So I believe we're very close to a bottom.
Speaker 1: And whether that bottom takes us to just simply a
Speaker 1: relief rally to back to one hundred K or one
Speaker 1: hundred and five K then rolls over to lower prices
Speaker 1: or to new highs is to be determined. But the
Speaker 1: point is some sort of reversal is coming. We got
Speaker 1: extreme fear, we have extremely over sold conditions, you have
Speaker 1: a lot of people capitulating. You've got bears like Michael
Speaker 1: Burry coming out and saying all these things right, and
Speaker 1: even other folks like Richard farr A coming out here
Speaker 1: and saying, I concur with Michael Burry. Our BTC price
Speaker 1: target is zero dollars. That's not just for a shock factor,
Speaker 1: it's where the mat takes us. And he continues and
Speaker 1: continues on his spiel, just outlandish things, right, it's going
Speaker 1: to zero, and other bears it's going to three thousan
Speaker 1: and it's like, wait a minute, market structure doesn't show that,
Speaker 1: but of course they're putting the fear out there. Didn't
Speaker 1: want people to capitulate. We've seen this time and time again.
Speaker 1: And when the price is pumping and we've entered you
Speaker 1: four year zone, you're going to see outlandish things from bulls. Right. Oh,
Speaker 1: this thing is not going to stop, it's going to go.
Speaker 1: But we don't want to be emotional. We want to
Speaker 1: be level headed. We do not want to move with
Speaker 1: the emotions of the market. We want to look at
Speaker 1: the data and enter the market at appropriate times and
Speaker 1: exit the market at appropriate times. Right, So you're seeing
Speaker 1: just outlandish things from bears. And look at this as
Speaker 1: far as the analyst consensus index, almost every bitcoin analyst
Speaker 1: is now bearish. So again the herd is turning bearish
Speaker 1: and you're just seeing fear depression and all these things
Speaker 1: on social media. That makes me bullish. That means some
Speaker 1: sort of bottom is near, guys. And again you've got
Speaker 1: different metrics that are highlighting that. Right, So bitcoin could
Speaker 1: be setting up for a reversal. I'm not saying it's
Speaker 1: going to happen tomorrow or next week, but maybe February.
Speaker 1: We bottom out in March we're running again and again
Speaker 1: I'm basing down on the data, the RSI and what
Speaker 1: we're seeing there. And on the all coin front, analyst
Speaker 1: Matthew Hyland highlighted the all coin dominance chart versus Bitcoin
Speaker 1: dominance and he said the last time all coins were
Speaker 1: in this setup was in the summer of twenty twenty.
Speaker 1: It has been over five point five years. But the
Speaker 1: tides are turning. So essentially we're fighting a bottom a
Speaker 1: support level here for the all coin dominance, so a
Speaker 1: reversals coming. In fact, the macde has flipped bullish. So
Speaker 1: these are just data points, guys, not emotions, not hyperbole,
Speaker 1: not hype, not things to make you feel good, right,
Speaker 1: not fairy tales, just what is the data showing us,
Speaker 1: and that's what is showing you, right. So as often
Speaker 1: time in the market is better than trying to time
Speaker 1: the market, and we want to follow the data. These
Speaker 1: are great signs. Now, we got a big update here
Speaker 1: around Democrats and the Claritiac. So we know many Democrats
Speaker 1: have been pushing back because of the Trump crypto companies
Speaker 1: and the conflicts of interest and things like that. Well
Speaker 1: we got a really great update. So apparently Senate Democrats,
Speaker 1: they reconvened and meant to discuss the market structure bill
Speaker 1: amongst themselves, and Eleanor Tarrett reported that in today's meeting,
Speaker 1: one Democrat staff source said discussions were positive and the
Speaker 1: gathering was arguably the most productive Democratic meeting to date.
Speaker 1: Senate Majority Leader Chuck Schumer made an appearance emphasizing the
Speaker 1: importance of industry engagement and urging continued momentum to get
Speaker 1: the legislation done while members still have their definitive ass
Speaker 1: The takeaway from the meeting was that the effort, thought
Speaker 1: to be on life support just a few weeks ago,
Speaker 1: is far from dead. So we know Senator Schumer turned
Speaker 1: pro crypto since twenty twenty four, right, him and other Democrats,
Speaker 1: they left Elizabeth Warren and Gary against behind and they
Speaker 1: started supporting crypto. You had Richie Torres and many others.
Speaker 1: They went against Elizabeth Warnon, which was a good thing.
Speaker 1: So there are supporters for crypto in the Senate and
Speaker 1: in Congress as a whole. The problem under the Biden administration,
Speaker 1: you know, before the election results and so forth, was
Speaker 1: that Elizabeth Warren was controlling the narrative, and you know,
Speaker 1: she had the top seat, you know, financial oversight seat.
Speaker 1: So now she's lost that power. So the Democrats, I think,
Speaker 1: can move forward here. So this is a very good sign.
Speaker 1: I think they know there's an opportunity to get Crypto done.
Speaker 1: And I think those Democrats who are not you know, extremists,
Speaker 1: they get it, like, hey, look, this is one thing
Speaker 1: we should get done. We can fight Trump and the
Speaker 1: Republicans and other things, but let's get Crypto done. Right,
Speaker 1: Because it's made its way through the House with Democrats support.
Speaker 1: So I think Schumer, you know, weighing in here and saying, hey, look,
Speaker 1: let's get this done. I think it will work out well. Now,
Speaker 1: obviously a lot of banks are trying to lobby Democrats
Speaker 1: but also Republicans too, but hopefully, you know, we just
Speaker 1: need a handful of Democrats to work with the Republicans
Speaker 1: and we can get this bill through the Senate. It
Speaker 1: is hard to get bills through the Senate. So this
Speaker 1: is not something specific to Crypto. But obviously the banks
Speaker 1: are fighting back, and look, Crypto's building a massive war tress.
Speaker 1: I believe the last count was they have one hundred
Speaker 1: and ninety three million dollars. I think it's fair share.
Speaker 1: I think it's the pack, so they're ready to spend.
Speaker 1: And I think Democrats, many of these Democrats remember what
Speaker 1: happened in twenty twenty four, so I think they're going
Speaker 1: to try to get this done. And if they're pro crypto,
Speaker 1: the crypto money will back them for their campaign. So
Speaker 1: there's a lot of moving parts and pieces to this,
Speaker 1: but guys, this is very good. This is very very good.
Speaker 1: And even polymarket is showing the odds of the Claritiac
Speaker 1: passing twenty twenty six going up, so I think it's
Speaker 1: at seventy three percent right now. So very good things here, folks.
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Speaker 1: Link would be in the description. Now, folks, we got
Speaker 1: some very big news coming out around the CME so
Speaker 1: Wall Street giant CME Group is eyeing its own CME coin.
Speaker 1: The CEO says, wow, folks, when I was telling you
Speaker 1: all that enterprises and companies and banks, all these things
Speaker 1: will issue their own tokens and we're headed to the
Speaker 1: token economy. And I've been saying that for a long
Speaker 1: time since like twenty eighteen, I wasn't kidding. It's they're
Speaker 1: going to put all these things on the blockchain. It's
Speaker 1: going to change the way brands and companies interact with
Speaker 1: their customers and much more so. CME Group CEO Terry
Speaker 1: Duffy indicated that the company is exploring launching its own
Speaker 1: token that could operate on a decentralized network. The initiative
Speaker 1: is part of a CME's waiting on tokenized collateral, and
Speaker 1: the firm is collaborating with Google on a tokenized cash
Speaker 1: solution set to launch later this year. Wow, that's big.
Speaker 1: Duffy's comments are the first explicit mention of a proprietary
Speaker 1: CME issued asset, as the firm prepares to introduce twenty
Speaker 1: four to seven training for all crypto futures and new
Speaker 1: futures contracts for Cardono, Chainlink and Stellar Now. One of
Speaker 1: the key things he mentioned was that they're looking to
Speaker 1: do this on a decentralized network, so most likely it's
Speaker 1: a public blockchain, so it could be Ethereum or Solana.
Speaker 1: You know, those are being the big ones that are
Speaker 1: getting adoption. Most recently we heard Fidelity is launching their
Speaker 1: own stable coin on the Ethereum blockchain. So guys, I
Speaker 1: hope you see the direction the puck is heading in here,
Speaker 1: and I know price is important we're all here to
Speaker 1: make money. I get it, and look, I have my portfolio.
Speaker 1: It's not fun seeing it go down. I want bigcoin
Speaker 1: to go higher. I want all coins to go higher.
Speaker 1: But there's a path to that, and I believe the
Speaker 1: adoption by these big institutions will drive the value of
Speaker 1: these blockchains up and their native tokens. Obviously, you have
Speaker 1: the speculation layer right as bier rumors sell the news.
Speaker 1: You guys know how it all works, and narrative follow price.
Speaker 1: So this is huge. So again they're working with Google
Speaker 1: to launch a tokenized cash solution, which is incredible. So huge,
Speaker 1: huge vote of confidence and adoption here of blockchain and crypto. Guys.
Speaker 1: I hope you see what's happening. The biggest of the
Speaker 1: biggest institutions are going all in now, folks. Today Treasury
Speaker 1: Secretary Scott Besson testified before Congress and California Representative Brad Sherman,
Speaker 1: the Sherminator, and many of you may recall best buds
Speaker 1: with Elizabeth Warren and Gary Ginser, right, they love to
Speaker 1: trash or he loves to trash crypto. We know he's
Speaker 1: lobbied by the banks. He's one of the puppets. He's
Speaker 1: part of the access of evil. If you guys remember
Speaker 1: Elizabeth warning Gary Gains to Brad Sherman, the three of
Speaker 1: them colluding, right, three p's in a pod. Well, of
Speaker 1: course Brad Sherman went after Scott Bessant and you know,
Speaker 1: asked them about the bigcoin reserve and much more. And
Speaker 1: let me just I'm not gonna play a clip because
Speaker 1: you know it's just Sherman with his nonsense, but I'll
Speaker 1: share what Scott Besson had to say. So California Congressman
Speaker 1: Brad Sherman, a major critic of bitcoin and cryptocurrencies, ask
Speaker 1: Bessent does the Treasury Department or various components of the
Speaker 1: Federal Open Marketing Committee have the authority to bail out bitcoin.
Speaker 1: Sherman then asked Besson if he plans to direct private
Speaker 1: banks to acquire more bitcoin or trump Coin, a reference
Speaker 1: to meme coins connected to US President Donald Trump through
Speaker 1: changing banking reserve requirements still allowed him to buy more.
Speaker 1: Besson said, I am a Secretary of Treasury. I do
Speaker 1: not have the authority to do that, and as chair
Speaker 1: of the Financial Stability Oversight Council, I do not have
Speaker 1: the authority. So Sherman's just trying to throw anything at
Speaker 1: the wall that sticks. Now. Besson, in talking about the
Speaker 1: Bitcoin reserve, highlighted to Sherman that you know, they added
Speaker 1: five hundred million dollars and seize bitcoin retained by the
Speaker 1: US government and that it's surged to over fifteen billion
Speaker 1: dollars while in custody, So talking about what the US
Speaker 1: government had retained and what they're going to add to
Speaker 1: the reserve, so essentially the bitcoin they seized over the years.
Speaker 1: So you can see Brad Sherman ramping up efforts here.
Speaker 1: Don't be surprised if Elizabeth Warren comes around the corner
Speaker 1: with something. The usual suspects you know showing up here right, Okay,
Speaker 1: moving ahead. Star Tail SBI launch blockchain for institutional fx
Speaker 1: RWA trading. So many of you may recognize the name
Speaker 1: Japan's financial conglomerate SBI Holdings, so they're very big. They've
Speaker 1: invested in bitcoin, ripple, They've done a lot. I think
Speaker 1: their CEO is very bullish on XRP and these things.
Speaker 1: So Startail group in Japan's financial conglomerate SBI Holdings have
Speaker 1: launched Streum, a layer one blockchain designed to support exchange
Speaker 1: layer and settlement infrastructure for institutional trading of foreign exchange,
Speaker 1: tokenized equities and real world assets. The platform is designed
Speaker 1: as an exchange layer network. According to an announcement shared
Speaker 1: with coin Telegraph, here's a quote, tokenization is an inevitable trend,
Speaker 1: and equities tokenization is clearly the next big market, said
Speaker 1: Sota Watanabe, CEO of Startael Group. He added that Stream
Speaker 1: aims to bridge the gap between traditional off chain finance
Speaker 1: and on chain ecosystem by enabling complying dividend and royalty payments.
Speaker 1: So this is interesting. They're launching their own chain, guys,
Speaker 1: and we're going to see a lot of companies do this.
Speaker 1: That doesn't mean that they're not going to use other blockchains,
Speaker 1: because it's going to be a multi chain world. What
Speaker 1: we're seeing is that folks who have launched their private
Speaker 1: permission chain in house, they have to bridge to the
Speaker 1: public chains for liquidity and settlement, right because that's where
Speaker 1: everything is, and no one wants to trust anyone's private
Speaker 1: permission chain. JP Morgan has learned that lesson, and that's
Speaker 1: why they're bridging to public chains like onto e theorem
Speaker 1: Base and much more so. Really really great to see
Speaker 1: the continued adoption of this technology by again the biggest
Speaker 1: institutions in the world. Now, speaking of the biggest institutions,
Speaker 1: Ripple Prime is integrating with hyper Liquid, expanding institutional access
Speaker 1: to on chain derivatives liquidity. Yesterday we talked about Ripple
Speaker 1: their XRP ledger being utilized for tokenizing diamonds in the
Speaker 1: UAE one hundreds of millions of dollars. Right, So, Ripple
Speaker 1: continues to build partnerships and expand they tweeted out We're
Speaker 1: now enabling institutions to access on chain derivatives liquidity through
Speaker 1: hyper Liquid in a streamlined and secure way. Customers can
Speaker 1: also efficiently cross margin crypto with all acid classes supported
Speaker 1: by our Prime brokerage platform. So all the services, all
Speaker 1: the acquisitions, You're starting to see the pieces being integrated
Speaker 1: and coming together, and they're able to bridge and help
Speaker 1: people and offer access to different chains and much more so,
Speaker 1: all great stuff for the continued growth of their ecosystem.
Speaker 1: Now look at this, this is a blastom the past.
Speaker 1: TASOS so Bitnomial launches first US regulated TASOS futures, allowing
Speaker 1: retail exposure to XTZ. Now I don't know how many
Speaker 1: of you know about Tasos. It's been around for a
Speaker 1: long time. I think since twenty eighteen. I remember interviewing
Speaker 1: to founders and I remember having some Tasos tokens. I
Speaker 1: think I still do, not a lot, so it's like
Speaker 1: very minimal in my portfolio. But this is very interesting
Speaker 1: that this project is still around. We haven't heard much
Speaker 1: about it for a long time. So the list thing
Speaker 1: follows bit Noomio's January launch of aptose features as the
Speaker 1: exchange continues expanding US regulated derivatives beyond bigcoin and ether,
Speaker 1: so you're getting these financial products being launched for all
Speaker 1: these tokens, which is very good. Okay, moving forward, trm
Speaker 1: Labs completes seventy million dollar investment round at one billion dollars,
Speaker 1: becomes crypto Unicorn, So we continue to see huge capital
Speaker 1: investments into crypto projects, infrastructure, companies, and tokens, which is
Speaker 1: a very positive sign. People are still bullish despite what
Speaker 1: you're seeing on social media like x and despite the
Speaker 1: price action. These smart money investors have the long term view.
Speaker 1: So blockchain intelligence platform TRM Labs completed a seventy million
Speaker 1: dollars Series C funding round valuing it at one billion dollars,
Speaker 1: becoming the latest crypto company to reach Unicorn status. The
Speaker 1: investment round was led by seed investor Blockchain Capital, with
Speaker 1: participation from Goldman, Sax, Best in Our Venture partners, Brevin
Speaker 1: Howard Digital to mor Bravos, City Ventures, Galaxy Ventures. According
Speaker 1: to a Wednesday news release, notice the big names there, guys,
Speaker 1: the trat FI name, City, Goldman, Brevin Howard, Right, these
Speaker 1: guys are not crypto specific funds. They were around before crypto.
Speaker 1: So you just see the big bets guys in the capitol.
Speaker 1: It's coming in and this is incredible. And again blockchain intelligence, right,
Speaker 1: this is going to be a big part in how
Speaker 1: these companies are able to see the networks and what's happening,
Speaker 1: what's trending. Because as that and saying I'm beating the
Speaker 1: drum on the economy, markets and governments will all run
Speaker 1: on blockchain rails. So remember that. Okay, moving ahead, Canada's
Speaker 1: CIRO formalizes interim Crypto Custody framework, so the Canadian Self
Speaker 1: Regulatory Organization outline custody limits, capital thresholds and reporting rules,
Speaker 1: while long term regulation remains in progress. So across the globe,
Speaker 1: We're seeing it Hong Kong, Canada, Europe, wherever. They are
Speaker 1: getting ready to set up the infrastructure to allow crypto
Speaker 1: to flourish and grow. They're not banning it, obviously, they're
Speaker 1: going to the tax man is going to take his cut,
Speaker 1: They're going to want everything to be reported, they're going
Speaker 1: to monitor it. Right, we know this, but it's great
Speaker 1: to see progress. And this will allow more capital to
Speaker 1: come into the acid class. It will allow the capital
Speaker 1: it's sitting on the sidelines. Who these big institutions who
Speaker 1: want to go further in. You know, they may be
Speaker 1: dipping their toe in right now, but they want to
Speaker 1: plunge in. Not to mention, some institutions are like, yeah,
Speaker 1: we're not touching this yet, but once there's regulations, we're
Speaker 1: going all in. We're going to build, we're going to invest.
Speaker 1: So this is why it's important to know what's happening
Speaker 1: with legislation. Obviously, here in the United States, we're waiting
Speaker 1: for the Market Structure Bill. And obviously earlier I had
Speaker 1: reported about the Democrats. You know, they're starting to turn
Speaker 1: the corner here. So things are moving ahead globally. All right,
Speaker 1: Final news item, bit wise to acquire crypto staking company
Speaker 1: courus one. I'm a big fan of the folks the
Speaker 1: bit Wise. I've had Matt Hogan on the podcast many
Speaker 1: times over the years. You know, they were ahead of
Speaker 1: the curve and launching a lot of crypto products, and
Speaker 1: they continue to expand. So Bitwise Asset Management is reportedly
Speaker 1: acquiring institutional staking provider Course One, extending its push into
Speaker 1: cryptocurrency yield services. The acquisition adds a major staking operation
Speaker 1: to the crypto asset manager's platform as demand for on
Speaker 1: chain yield products increases among both retail and institutional investors.
Speaker 1: Courus one provides staking services for decentralized networks and currently
Speaker 1: has approximately two point two billion dollars in asset steak
Speaker 1: according to its website. This would be a huge acquisition
Speaker 1: for bitwise. Steaking is a big component of the Web
Speaker 1: three ecosystem along with stable coin yield. But you know,
Speaker 1: staking is really great because if you already hold the asset,
Speaker 1: you know, for example like Etherorem Salon and others, it
Speaker 1: can be put to work right and you earned a
Speaker 1: passive income. So big big move here for bit wise.
Speaker 1: I'll try to get some of the guys from bitwise
Speaker 1: on maybe Hunter Horseley and he's the CEO, and you know,
Speaker 1: do an interview to talk about all these things. Folks,
Speaker 1: that's the news. Let me know what you think. Leave
Speaker 1: your thoughts and comments below, hit the thumbs up button
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Speaker 1: put a lot of charts and data points in there
Speaker 1: that you can reference at any point and you get
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Speaker 1: out at Mycrypto course dot com. All of the links
Speaker 1: will be in the description. Folks. Thank you so much
Speaker 1: for tuning in. I appreciate you all and I'll talk
Speaker 1: to you all later.