WEBVTT

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<v Speaker 1>Hey, everybody, Welcome into the Thinking Crypto podcast. You're home

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<v Speaker 1>for cryptocurrency news and interviews. I'm your host, Tony Edward

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<v Speaker 1>on your weight in. Please let that subscribe button as

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<v Speaker 1>well as the thumbs up button and leave a common below.

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<v Speaker 1>If you're listening on a podcast platform such as Spotify

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<v Speaker 1>or Apple, please leave a five star rating and review. Folks,

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<v Speaker 1>I really want to take a quick look at the

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<v Speaker 1>price of bitcoin because right now it's pulling back and

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<v Speaker 1>it's trading at one hundred and three thousand, three hundred

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<v Speaker 1>and three dollars at the time of recording. So I

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<v Speaker 1>want to make sure some of you are not panicking

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<v Speaker 1>because the market is pulling back. And it's what I've

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<v Speaker 1>been saying that the scenario bitcoin going and testing some

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<v Speaker 1>lows first, maybe down to ninety a k before we

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<v Speaker 1>bounce and head up. Right, So this is the scenario

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<v Speaker 1>playing out. It's the alternative I was giving you guys

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<v Speaker 1>on the live streams and much more so. Bullmarkets still intact.

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<v Speaker 1>We're not out of a bull market, so I don't

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<v Speaker 1>want to make sure folks understand what's happening here. I

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<v Speaker 1>believe this is the dump before we set up for

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<v Speaker 1>the massive breakout pump. It's just a matter of market

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<v Speaker 1>cycles playing out, So don't panic, is essentially to take

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<v Speaker 1>away here. But folks, we've got big crypto news. First up.

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<v Speaker 1>Blackrock says they want to become the world's largest crypto

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<v Speaker 1>asset manager by twenty thirty. This is incredible. This is

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<v Speaker 1>their ambition. And years ago you had Larry Fink calling

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<v Speaker 1>Bitcoin an index of or avenue of money laundering, Jamie

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<v Speaker 1>Diamond saying this is all a scam. Now we want

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<v Speaker 1>to be the largest crypto firm out there. Right, It's

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<v Speaker 1>incredible how things have changed. It's a complete one to eighty.

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<v Speaker 1>But this was always the plan. They were saying these

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<v Speaker 1>things back in the day because they couldn't take a

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<v Speaker 1>position yet, and then they started taking their positions and

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<v Speaker 1>they launched their products, and now it's the best thing ever.

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<v Speaker 1>So I hope you guys see how the game is

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<v Speaker 1>played by tradfy and these institutional investors and the other

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<v Speaker 1>takeaway here from them saying this, it's something along the

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<v Speaker 1>lines of what I've been talking about for years that

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<v Speaker 1>if these crypto startups, the native crypto companies, they don't

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<v Speaker 1>get their act together, TRADFID is going to come in

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<v Speaker 1>and take over. And it's clear what Black Rocks ambitions are.

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<v Speaker 1>And of course it's not only them, it's the rest

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<v Speaker 1>of Wall Street, your Fidelity, your Franklin, Templeton's, and of

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<v Speaker 1>course the big banks are going to get in. Yesterday

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<v Speaker 1>we talked about Bank of America's CEO confirming they're working

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<v Speaker 1>on their own stable coin. It's only a matter of

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<v Speaker 1>time before they start offering crypto investment and custody as well.

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<v Speaker 1>Right over the years, I've often given the mock scenario

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<v Speaker 1>of Hey, mister Jones, how are you doing today? This

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<v Speaker 1>is Bob from JP Morgan. Guess what we offer bitcoin,

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<v Speaker 1>crypto and all that you can invest and you don't

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<v Speaker 1>have to worry about anything. It's going to be under

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<v Speaker 1>your statements. We'll take care of everything. We'll custody for you.

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<v Speaker 1>That's coming. Don't be surprised if your bank that you

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<v Speaker 1>use they call you up and they started talking about

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<v Speaker 1>crypt gone much more. It's coming, folks. The writings on

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<v Speaker 1>the wall here so big statement by Blackrock, and it

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<v Speaker 1>shows they are anticipating growth. They are looking to expand

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<v Speaker 1>their footprint and their services because this acid class is

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<v Speaker 1>here to stay and as we've talked about, blockchain rails

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<v Speaker 1>are going to power the economy, the governments, and markets.

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<v Speaker 1>Now moving ahead, we have some very big news for

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<v Speaker 1>the XRP Ledger and as well as Circle's USDC. So

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<v Speaker 1>Circle has expanded their USDC stable coin onto the XRP Ledger.

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<v Speaker 1>So this is really great. I know a lot of

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<v Speaker 1>people have been asking about this for a long time,

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<v Speaker 1>but it goes back to a lot of things were

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<v Speaker 1>held back because of the Ripple lawsuits. Right, many of

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<v Speaker 1>these companies did not want to go participate on a

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<v Speaker 1>chain that was under major litigation. But as I've been saying,

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<v Speaker 1>despite Judge Torre is not wrapping up the paperwork and

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<v Speaker 1>all that, the industry, enterprises and companies recognized this thing

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<v Speaker 1>is over, the SEC's not going after Ripple, and people

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<v Speaker 1>can freely build on the XRP Ledger. So Circle tweeted

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<v Speaker 1>out they said, with the launch of native USDC on XRPL, developers,

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<v Speaker 1>institutions and users gain the support of the world's largest

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<v Speaker 1>regulated stable coin. So they highlighted that with the addition

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<v Speaker 1>of the XRP Leisure, USDC is now supported natively on

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<v Speaker 1>twenty two blockchains. So this is really great the folks

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<v Speaker 1>that Ripple x tweeted out the future is interoperable USDC

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<v Speaker 1>on the XRP ledger. Ripple and Circle are bringing the

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<v Speaker 1>fully reserved one to one backed stable coin to the

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<v Speaker 1>XRP ledger, accelerating DeFi and institutional adoption. This is really

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<v Speaker 1>great to see, folks. This is the future interoperability. There

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<v Speaker 1>won't be one chain to rule them all. There's going

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<v Speaker 1>to be multiple blockchains. Not everything's going to be a winner, obviously,

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<v Speaker 1>but you're going to have your maybe ten to fifteen

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<v Speaker 1>blockchains that are used globally by different industries, different governments,

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<v Speaker 1>different sectors of the economy and so forth, and there's

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<v Speaker 1>going to be to be interoperability where tokenized assets, stable coins,

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<v Speaker 1>and much more can move between these different chains. That

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<v Speaker 1>is the future. So watch out for any type of maximalism.

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<v Speaker 1>People telling you it's only this chain and all that, right,

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<v Speaker 1>that's nonsense. We see that sometimes with bigcoin maxi's sometimes

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<v Speaker 1>I see it in the XRP community, be like, oh, yeah,

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<v Speaker 1>everything will be on the XRP ledger. No, everything will

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<v Speaker 1>not be on the XRP ledger. There's going to be

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<v Speaker 1>things on different blockchains, right because there's no one blockchain

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<v Speaker 1>to rule them all here, So really great news and

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<v Speaker 1>very bullish. Now the more bullish news, Eleanor Territor is

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<v Speaker 1>reporting that the Senate will vote on the final passage

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<v Speaker 1>of the Genius Act on Tuesday, so next week. The

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<v Speaker 1>timing of that is tbd, but folks, a major hurdle

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<v Speaker 1>was cleared this week because you have these different levels

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<v Speaker 1>that you got to get the bill passed and approved

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<v Speaker 1>through and have it made progress through the whole legislative process.

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<v Speaker 1>So this could be really big, could be a key

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<v Speaker 1>moment for the markets to recover, right, we'll see, you know,

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<v Speaker 1>it all depends how the charts and everything looks like.

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<v Speaker 1>But if Bitcoin is pulling back and the all coins

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<v Speaker 1>that pulling back a bit, it bottoms out. May become

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<v Speaker 1>Monday and then Tuesday we get the news and then

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<v Speaker 1>we bounce. We'll see. That's not a guarantee, but we've

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<v Speaker 1>seen things like this before. But this would be really great, guys,

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<v Speaker 1>they get stable coin legislation through, it's going to be massive. Now,

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<v Speaker 1>the SEC made an update to its qualified Custodial rule,

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<v Speaker 1>and Eleanor Tarrott reported here. She said the SEC just

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<v Speaker 1>officially scrapped the expanded custody rule proposal and Rule three

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<v Speaker 1>BASH sixteen plus other Gensler error rules. The custody rule

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<v Speaker 1>aimed to cover all client assets include crypto, broadened what

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<v Speaker 1>counts as custody, and raised concerns about whether certain state

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<v Speaker 1>charter entities would be qualified custodians. Rule three b NASH

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<v Speaker 1>sixteen proposed DeFi exchanges slash platforms could be regulated a

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<v Speaker 1>national security exchanges. The SEC also dropped its proposal to

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<v Speaker 1>make public companies comply with enhance ESG reporting requirements. So

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<v Speaker 1>this is really great. The SEC continues to clean up

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<v Speaker 1>a lot of the garbage from Genzer's error, which is awesome.

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<v Speaker 1>We're getting the clarity we need and this is happening

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<v Speaker 1>before Congress even passes market structure regulation. So Hester Purse,

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<v Speaker 1>Markuwaighted and of course Chair Paul Atkins doing an amazing

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<v Speaker 1>job here. And all of these things are going to

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<v Speaker 1>lead to more adoption because it provides clarity, removes risk,

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<v Speaker 1>and allows more capital to come into the acid class. Folks,

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<v Speaker 1>and they support a variety of coins. I'm talking all

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<v Speaker 1>whatever may be they supported, and they have a great

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<v Speaker 1>software called Treasure Suite that helps you to manage all

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<v Speaker 1>Say five and if you use the code thinking crypto

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<v Speaker 1>really great hardware well. Links will be in a description now, folks.

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<v Speaker 1>Today was Coinbase State of Crypto Summit and I was there.

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<v Speaker 1>I interviewed Brian Armstrong, coinbas CEO, and many of the

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<v Speaker 1>coin based representatives, even Anthony Scaramucci of Skybridge Capital and

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<v Speaker 1>much more so. Those interviews are going to be published

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<v Speaker 1>next week. But folks, Coinbase now some very big updates today,

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<v Speaker 1>huge huge adoption items. First, they introduce pay with crypto

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<v Speaker 1>where it integrates with Shopify stores and it allows people

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<v Speaker 1>to be able to then pay with USDC. So there

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<v Speaker 1>are many companies that have their e commerce platforms build

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<v Speaker 1>on Shopify and now they will be able to use

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<v Speaker 1>and accept these stable coins, specifically USDC, So really massive news.

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<v Speaker 1>And on that nodes, Coinbase also launch Coinbase Business, so

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<v Speaker 1>similar to what they're doing with Shopify, they're creating solutions

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<v Speaker 1>to allow businesses and merchants around the globe to be

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<v Speaker 1>able to use stable coins and do payments and have

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<v Speaker 1>custody and trading and much more. So this is a

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<v Speaker 1>key infrastructure item here to allow the use of crypto,

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<v Speaker 1>because if you don't have the merchants using this, you

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<v Speaker 1>don't provide them an easy way to use it, then

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<v Speaker 1>they're not going to set it up right. You've got

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<v Speaker 1>to make it as easy as possible, kind of out

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<v Speaker 1>of the box where they can integrate it into their

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<v Speaker 1>systems and account do the accounting and tracking and much more.

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<v Speaker 1>But this is massive, so really big news for Coinbase.

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<v Speaker 1>And they are also launching a credit card, so it's

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<v Speaker 1>called Coinbase one Card and it's actually powered by American

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<v Speaker 1>Express and it includes cash back paid in bitcoin, so

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<v Speaker 1>really cool. I love this, and again the on and

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<v Speaker 1>off ramps, the infrastructure being set up for adoption globally,

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<v Speaker 1>so really really like this, and Brian and I spoke

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<v Speaker 1>about it at the event. So once again, those interviews

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<v Speaker 1>are going to be published next week. Folks. That's the news.

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<v Speaker 1>Let me know what you think. Leave your thoughts and

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<v Speaker 1>comments below hit the thumbs up button. A great way

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<v Speaker 1>you can support me in the podcast, folks, is by

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<v Speaker 1>subscribing to my free email newsletter. It's one hundred percent free.

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<v Speaker 1>Link will be a description. Check out my book on Amazon.

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<v Speaker 1>It's available in paperback in digital, and check out my

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<v Speaker 1>course at Mycrypto course dot com. This is a comprehensive

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<v Speaker 1>course that teaches you every aspect of crypto, so, folks,

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<v Speaker 1>all the links will be in a description. Thank you

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<v Speaker 1>so much for watching and listening. I appreciate you all

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<v Speaker 1>and I'll talk to you all later