WEBVTT

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<v Speaker 1>FED Chair Jerome Powell gives this signal that quantitative tightening

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<v Speaker 1>is over and ray cuts are coming very soon. This

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<v Speaker 1>means we're going back to easy money and it's risk

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<v Speaker 1>on folks, so we can expect crypto and stocks to

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<v Speaker 1>start pumping. I'm gonna break down some charts for you,

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<v Speaker 1>and the SEC takes a major loss in their lawsuit

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<v Speaker 1>against crack in Exchange. This is significant and Sony de

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<v Speaker 1>Tech Giant is looking to launch a Ethereum Layer two.

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<v Speaker 1>We're gonna break this down and much more. Let's get

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<v Speaker 1>into it. Hey, everybody, welcome into the Thinking Crypto podcast,

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

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<v Speaker 1>Tony Edward. On your way in, Please at that subscribe

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<v Speaker 1>button as well as a thumbs up button and leave

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<v Speaker 1>a comment below. If you're listening on a podcast platform

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<v Speaker 1>such as Spotify or Apple, please leave a five star

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<v Speaker 1>rating and review. Folks. The big news of the day,

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<v Speaker 1>as I'm sure many of you saw that Jerome Powell,

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<v Speaker 1>the Chair of the FED, announced at Jackson Hall, Wyoming

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<v Speaker 1>that the time has come for the FED to begin

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<v Speaker 1>reducing interest rates. And we knew this was coming, but

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<v Speaker 1>it's official, right We got it straight from the horse's mouth,

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<v Speaker 1>and of course many folks are anticipating the first cut

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<v Speaker 1>to come in September. So what does this mean for markets, guys, Well,

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<v Speaker 1>right now Bitcoin is pumping off that news. It is

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<v Speaker 1>over sixty four thousand dollars nice green candle on the

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<v Speaker 1>daily chart, and the DXY, that dollar currency index, is

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<v Speaker 1>crashing hard. It is at one hundred right now. Just

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<v Speaker 1>red candles, red candles, And that's what we want to see,

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<v Speaker 1>because when the DXY is crashing, guys, there's an inverse

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<v Speaker 1>correlation where risk assets like bitcoin and all coins are pumping.

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<v Speaker 1>So that's an ideal situation for the continuation of the

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<v Speaker 1>bull market and for us to see parabolic moves. Now,

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<v Speaker 1>if you read my email newsletter today, I shared a

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<v Speaker 1>great chart where I showed that when the DXY falls

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<v Speaker 1>below one hundred, it's completely risk on folks, and that

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<v Speaker 1>means we're going to see a lot of apple will

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<v Speaker 1>come into the crypto asset class as well as the

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<v Speaker 1>stock market. And one of the things Nate Jerraci and

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<v Speaker 1>I spoke about in our recent interview is that a

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<v Speaker 1>lot of money is going to leave money market funds,

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<v Speaker 1>which was generating a lot of high yield or interest

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<v Speaker 1>because the rates were so high. But if the rates

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<v Speaker 1>are getting cut, you're not going to make as much.

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<v Speaker 1>So people are now going to move a lot of

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<v Speaker 1>those funds into risk assets like bitcoin, crypto and the

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<v Speaker 1>stock market, and people will see this as a bullish sign.

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<v Speaker 1>So the market sentiment in psychology is going to change

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<v Speaker 1>because we're now headed to the next boom cycle. We

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<v Speaker 1>have officially ended the quantitative tightening cycle where they are

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<v Speaker 1>raising rates and the FED is selling many of their

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<v Speaker 1>securities holdings. Now rates will fall, it will be easier

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<v Speaker 1>for businesses to borrow money, hedge funds and everybody, and

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<v Speaker 1>you know, the business cycle will do really well and

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<v Speaker 1>people will now look to invest. So there's a whole

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<v Speaker 1>market psychology to this, right that ray cuts are coming down,

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<v Speaker 1>it's easier to get a mortgage, all that stuff. You

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<v Speaker 1>guys understand the economics of it. So we are at

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<v Speaker 1>the cusp of entering the risk on era guys again,

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<v Speaker 1>And we've seen these boom and bus cycles throughout the

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<v Speaker 1>history of the economy. So we're coming out of the

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<v Speaker 1>bus which was twenty twenty two a bit into twenty

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<v Speaker 1>twenty three and entering into the next long term boom cycle.

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<v Speaker 1>So that's very bullish overall. So you may say, why

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<v Speaker 1>are you saying we're at the cusp, Tony, isn't it

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<v Speaker 1>done well? Not yet, folks. And when you look at

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<v Speaker 1>this bitcoin chart, bitcoin could retest lows again before we

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<v Speaker 1>have the bounce and keep going higher. I'm not saying

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<v Speaker 1>I want that to happen. I'm not saying that will happen.

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<v Speaker 1>I'm saying it's a probability. As informed, educated investors, we

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<v Speaker 1>want to leave our emotions at the door and be

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<v Speaker 1>prepared for different scenarios because Bitcoin could test the lows again,

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<v Speaker 1>go back down to fifty k. Who knows, it may not.

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<v Speaker 1>This may be the move that takes us up. It's

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<v Speaker 1>not going to go to straight line. It's going to

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<v Speaker 1>be you know, kind of a staircase, right, you're stepping upwards,

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<v Speaker 1>you're pumping go back a bit, bill support level, pump again,

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<v Speaker 1>pull back bill support levels, higher highs, higher lows. You

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<v Speaker 1>guys know the deal. So that's what I'm anticipating, and

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<v Speaker 1>I believe the markets will really start to rally significantly

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<v Speaker 1>come the second half of September when that raycut actually happens,

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<v Speaker 1>and seasonality wise, we've seen that October into November, December

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<v Speaker 1>Q four there is a significant rally for bitcoin. The

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<v Speaker 1>question is will we see the blow off top by

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<v Speaker 1>the end of this year or will it is bleed

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<v Speaker 1>into next year. There will be a blow off top.

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<v Speaker 1>So right now, as I stated in my newsletter, I'm

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<v Speaker 1>going to be preparing to cash out, have my numbers

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<v Speaker 1>and all my price targets set up accordingly for both

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<v Speaker 1>crypto and the stock market. So that's how I'm viewing this.

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<v Speaker 1>I hope you understand. As mentioned, check out my newsletter today.

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<v Speaker 1>It's free to sign up. It's all free you guys.

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<v Speaker 1>You don't have to pay anything. So I am very bolish, guys,

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<v Speaker 1>I am very very bullish. We got the macro signal

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<v Speaker 1>from the Fed that QT is done, that heightening cycle

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<v Speaker 1>is done. We're now entering to easy money. We know

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<v Speaker 1>what that means, lower rates, more money printing and all that.

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<v Speaker 1>One of the things we've been tracking over the past month, guys,

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<v Speaker 1>given you know the Japanese end trade and the markets

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<v Speaker 1>pulled back significantly, is the stable coin volume and minting.

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<v Speaker 1>We saw Tether just this month minted two billion USDT

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<v Speaker 1>and USDC issued by Circle. They issued hundreds of millions

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<v Speaker 1>of USDC and today fifty million was minted. This is

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<v Speaker 1>very important because where's this Where are these stable coins

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<v Speaker 1>going to go? People are not minting it for fun.

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<v Speaker 1>This is going to go into the crypto acid class.

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<v Speaker 1>So notice we're looking at the charts, we're looking at

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<v Speaker 1>the macro, We're looking at different factors like these things,

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<v Speaker 1>the stable coins supply and so forth, not just for

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<v Speaker 1>USDC and not just for us DT, but both. So, guys,

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<v Speaker 1>I'm seeing some very bullish signals here, very exciting times.

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<v Speaker 1>I hope you are as bullish as I am. Now

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<v Speaker 1>we got news here that Sony Detect Giant they are

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<v Speaker 1>teasing the launch of an Ethereum Layer two blockchain with

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<v Speaker 1>Startail Labs. Folks, it's amazing. You have the biggest companies

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<v Speaker 1>in the world, whether they're in their tech sector, the

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<v Speaker 1>finance sector, whatever, they are adopting crypto. They're building with it,

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<v Speaker 1>they're launching financial products. We've crossed the chasm. It's amazing.

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<v Speaker 1>Who's here. I am still waiting for Michael Dell to

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<v Speaker 1>tweet out Dell has officially added bitcoin to their balance.

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<v Speaker 1>Youet I've been sharing this with you guys for months

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<v Speaker 1>now because Michael Dell has been tweeting about bitcoin, and

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<v Speaker 1>it's amazing to see these legacy companies do this. It's

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<v Speaker 1>very bullish. So global conglomerate Sony Group's joint blockchain venture

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<v Speaker 1>with Startail announced the development of Sonium. If I'm saying

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<v Speaker 1>that right, s O N E I U M. It's

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<v Speaker 1>first Ethereum layer two blockchain that focuses on scalability and

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<v Speaker 1>user friendliness when an aim for mainstream adoption. Sonium, upon launch,

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<v Speaker 1>plans to deliver Web three apps across a multitude of feels,

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<v Speaker 1>including entertainment, gaming, and finance, leveraging Sony's global Web two

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<v Speaker 1>presence Sony block Solutions Labs. In a statement, Sony Group

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<v Speaker 1>has strong distribution channels and multiple industries and existing users

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<v Speaker 1>in our daily lives. Soda Watanabe, founder of Astor Network

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<v Speaker 1>and director of Sony Block Solution Labs, said in the

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<v Speaker 1>press release, through Sonium, we will make something people want

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<v Speaker 1>to go mainstream beyond Web three. Now, I don't know

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<v Speaker 1>if this is going to have a token. They don't

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<v Speaker 1>mention that here, but this is nevertheless bullish. It's going

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<v Speaker 1>to be built on. It's going to be a layer

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<v Speaker 1>two to Ethereum. So if you hold the Eve token,

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<v Speaker 1>this is going to benefit you, of course, and I'll

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<v Speaker 1>try to get more details here. The other thing that

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<v Speaker 1>Sony is working on, it was reported, is that they're

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<v Speaker 1>preparing to launch a local cryptocurrency trading platform in Japan. Guys,

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<v Speaker 1>I hope you are as bollish as I am. I

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<v Speaker 1>am seeing incredible things happening here in this market. Now

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<v Speaker 1>next news item. Russia to launch two crypto exchanges and

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<v Speaker 1>stable coins linked to the Yuan and the bricks currency.

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<v Speaker 1>This is coming from Comerceant, so we are seeing the

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<v Speaker 1>global adoption of crypto. Whether you love or hate Russia

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<v Speaker 1>or you know, all these different things. The point is,

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<v Speaker 1>I'm not trying to endorse any type of country. I'm

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<v Speaker 1>just stating the facts of adoption, who's building, who's launching,

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<v Speaker 1>what they're doing. And we know Russia is trying to

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<v Speaker 1>bypass sanctions by using specific stable coins. They've even legalized

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<v Speaker 1>crypto for cross border payments. So something very interesting is

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<v Speaker 1>cooking up here, guys. But this speaks to where we're headed,

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<v Speaker 1>and that is a world running on blockchain, whether it's

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<v Speaker 1>currencies on the blockchain, tokenized assets, and much more. Everyone

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<v Speaker 1>is joining the party in one fashion or the other.

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<v Speaker 1>And it's amazing to see that Russia is doing these things.

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<v Speaker 1>And once again, the politics of Russia in Ukraine that's

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<v Speaker 1>an entirely different situation. But big things are happening globally,

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<v Speaker 1>and global superpowers are making big moves. It's pretty incredible.

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<v Speaker 1>Now we got some big updates around the SEC lawsuit

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<v Speaker 1>against krack in exchange. We know the SEC, led by

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<v Speaker 1>scumbag regulator Gary Ginser, has been targeting coin based kracking,

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<v Speaker 1>Robinhood and much more, and Kraken's been fighting back, which

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<v Speaker 1>is what we want to see. The industry's punching back.

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<v Speaker 1>So we got news here that their motion to dismiss

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<v Speaker 1>in the US SEC case was denied. But this headline

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<v Speaker 1>is a bit deceiving. Let me give it a details.

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<v Speaker 1>There's actually a big win for Kraken here in the

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<v Speaker 1>crypto industry, so Marco Santori, who's the chief legal officer

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<v Speaker 1>at Kraken, said today the Federal Court for the Northern

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<v Speaker 1>District of California ruled as a matter of law that

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<v Speaker 1>none of the tokens trading on Kraken are securities. So, folks,

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<v Speaker 1>that is huge. It is a stark contrast to what

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<v Speaker 1>Gary Againster is trying to pedal that all these things

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<v Speaker 1>are securities, right, and they throw a bunch of tokens

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<v Speaker 1>in these lawsuits, they don't litigate, eat and give each

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<v Speaker 1>of those tokens due process. So this is a significant

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<v Speaker 1>win for Kraken, for the principle of clarity, and for

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<v Speaker 1>crypto users everywhere. It also confirms Kracken's long standing position

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<v Speaker 1>that it does not list securities. Furthermore, the courts found

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<v Speaker 1>the SEC's self serving invention of the crypto asset security

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<v Speaker 1>concept to be unclear at best and confusing worse. The

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<v Speaker 1>court called out the SEC straw man tactics too, wondering

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<v Speaker 1>aloud on the record, why the SEC consistently mischaracterizes Kraken's

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<v Speaker 1>position as requiring a written contract for there to be

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<v Speaker 1>a security. I guess why. Because Gary Ganser is a scumback.

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<v Speaker 1>He will lie in the courts. The SEC got subpoena

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<v Speaker 1>in the death death box case. They got called arbitrary

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<v Speaker 1>and capricious in the Gray Scale case. So what can

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<v Speaker 1>we expect, right, Gary's going to do anything. He'll break

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<v Speaker 1>the law just to get his way here, Marco continues,

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<v Speaker 1>Yet the court still permitted the case to proceed to discovery.

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<v Speaker 1>How read on Fundamentally, the court in Kraken's case made

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<v Speaker 1>the same distinction as in the Ripple case. A token

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<v Speaker 1>isn't a security, but arguments around a token could be.

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<v Speaker 1>So it's as Judge Torres ruled right, the token itself

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<v Speaker 1>intrinsically is not a security, just like the orange groves

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<v Speaker 1>or the oranges and the how we test were not securities.

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<v Speaker 1>Rather it was how we packaged them. So it depends

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<v Speaker 1>on the facts and circumstances. But the SEC likes to

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<v Speaker 1>have it both ways. They like to throw out facts

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<v Speaker 1>and circumstances. But we know that the token just creating

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<v Speaker 1>a token itself that is not a security, but how

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<v Speaker 1>is it offered? So what's the scheme around it? Right?

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<v Speaker 1>So the sec unqualifiedly loss on this tokens are securities

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<v Speaker 1>theory and will not be permitted to rely on it

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<v Speaker 1>going forward. That is huge, folks. Instead, it will need

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<v Speaker 1>to prove for every alleged transaction on Kraken that the

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<v Speaker 1>Howie test factors are satisfied. Now, a bunch of different

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<v Speaker 1>people weighed in. I want to share what James Murphy

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<v Speaker 1>metlaw Man had to say because he absolutely gets this

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<v Speaker 1>from a legal perspective. He says, to put the case

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<v Speaker 1>in proper context. Remember, there are no allegations that krack

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<v Speaker 1>and defrauded anyone, so this is not a fraud case, guys.

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<v Speaker 1>The crux of the case is the SEC alleges that

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<v Speaker 1>the eleven cryptotokens are traded as investment contracts ie securities.

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<v Speaker 1>This includes Cardono, Algoran ADAM filecoin Flow, ICP, Manimatic, near

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<v Speaker 1>OMG in Solana. He says, as I read the opinion,

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<v Speaker 1>I sympathized with the judge as he had to sift

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<v Speaker 1>through a lot of conflicting crypto case law. That is

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<v Speaker 1>being developed as a consequence of the SEC scattered regulation

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<v Speaker 1>by enforcement approach. Interestingly, the judge specifically aligned himself with

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<v Speaker 1>the reasoning of Judge Torres and the Ripple case. On

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<v Speaker 1>a number of points. The judge rejected the major questions

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<v Speaker 1>doctrine defense. Quoting another case, he wrote, the cryptocurrency industry

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<v Speaker 1>falls far short of being a portion of the American

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<v Speaker 1>economy bearing vast economic and political significance. That's interesting, James says,

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<v Speaker 1>I wonder whether he noticed the recent headlines declaring that

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<v Speaker 1>the crypto industry is the single largest political contributor in

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<v Speaker 1>the land. Ultimately, the judge concluded that the binding Ninth

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<v Speaker 1>Circuit case left him with little choice but to allow

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<v Speaker 1>the case to move forward. At this point, James says,

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<v Speaker 1>winning a motion to dismiss at the onset of a

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<v Speaker 1>case is hard, So it's not a big deal that

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<v Speaker 1>the judge is letting this move to discovery and going

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<v Speaker 1>on right that happened in the Ripple case and so forth.

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<v Speaker 1>This means the case will move on to discovery directed

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<v Speaker 1>at the question of whether the eleven tokens in the

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<v Speaker 1>case are traded as investment contracts. This discovery and potential

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<v Speaker 1>trial will happen without the presence of the eleven token

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<v Speaker 1>issuers as parties in a case. So this is what

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<v Speaker 1>I've been talking about. Guys. See SEC just throw a

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<v Speaker 1>bunch of tokens in not litigating each of those tokens,

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<v Speaker 1>not giving them the legal due process. That is a

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<v Speaker 1>scumbag move. James says, My overall impression is that the

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<v Speaker 1>judge felt that the SEC did satisfy the requirements of

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<v Speaker 1>how we at at this early stage, but he is

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<v Speaker 1>not necessarily convinced that the SEC will ultimately be able

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<v Speaker 1>to prove sufficient facts to show that these tokens actually

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<v Speaker 1>traded as investment contracts on rackin. So this is very

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<v Speaker 1>similar to the Ripple case. XRP intrinsically not a security.

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<v Speaker 1>X AREP traded on secondary markets on exchanges, not security.

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<v Speaker 1>But they said that the institutional sales which involve the

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<v Speaker 1>contract are security. So facts and circumstances. Gary Ginster getting

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<v Speaker 1>exposed and this is why we got to keep fighting.

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<v Speaker 1>This is why the industry is punching back as they

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<v Speaker 1>see weakness, they see lies, they see unlawful activities. We

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<v Speaker 1>know Gary's doing this because he's doing the bidding of

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<v Speaker 1>Elizabeth Warren, who's doing the bidding of tratify, incumbans who

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<v Speaker 1>want to kill these cryptos startups, these exchanges so they

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<v Speaker 1>can come in and take over. Right, I've often talked

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<v Speaker 1>about how can two things be happening in parallel, cryptos

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<v Speaker 1>startups getting lawsuits, wells notices, while Black Rock, Franklin, Temple's

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<v Speaker 1>and Fidelity and all these guys are tokenizing, are launching

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<v Speaker 1>ETFs and much more. Right, how can these two things

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<v Speaker 1>be happening in parallel because the incumbents made the phone

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<v Speaker 1>call to the Goldman Sachs guy who's at the SEC,

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<v Speaker 1>and that is Gary Ginzer. If you don't believe that,

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<v Speaker 1>if you think that's a conspiracy theory, then you don't

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<v Speaker 1>know how the world works. I don't know about the

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<v Speaker 1>revolving door of Wall Street and Washington, DC. Just go

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<v Speaker 1>look it up. It's there. Gary's an example, look at

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<v Speaker 1>Hank Paulson. There's many examples, guys. And it really sucks

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<v Speaker 1>that these things happen. But this is why we got

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<v Speaker 1>to hold our government accountable. We got to share the facts,

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<v Speaker 1>call up our representatives, and much more. But one thing's

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<v Speaker 1>for sure, Crypto's here to stay. Cryptos winning Gary will

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<v Speaker 1>be kicked out and the SEC is on the losing

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<v Speaker 1>side of history here with Gary Ginser. So they may

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<v Speaker 1>put up roadblocks and try to slow us down, but

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<v Speaker 1>we're ultimately going to win. We're getting the major victories

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<v Speaker 1>in the courts. Guys. Now, it's costly, these these exchanges

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<v Speaker 1>have to pay a lot of money. But I think,

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<v Speaker 1>like I said, the industry is now going on the offensive.

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<v Speaker 1>Not only are they countersuing and fighting back, they are

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<v Speaker 1>proactively launching lawsuits against the SEC even if the SEC

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<v Speaker 1>is not engaging with them. There's a lot of that happening.

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<v Speaker 1>So I'm sure the legal department at the SEC they're

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<v Speaker 1>head they're spinning a bit here, and an entire industry

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<v Speaker 1>is ready to fight back. So this is a big

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<v Speaker 1>update here for the entire crypto market, and that the

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<v Speaker 1>judge is saying, hey, these are not securities as is,

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<v Speaker 1>so that's a big loss for Gary. All Right, guys,

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<v Speaker 1>that's the news. Let me know what you think. Leave

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<v Speaker 1>your thoughts and comments below. Don't forget to sign up

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<v Speaker 1>for my free email newsletter on Substack. Link will be

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<v Speaker 1>in a description. Also, please grab a copy of my

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<v Speaker 1>book Rethinking Crypto. It would be a great way to

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<v Speaker 1>on Amazon, also available on Barnes and Nobles dot com.

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<v Speaker 1>It covers Crypto's past, president future. Grab a copy for yourself.

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<v Speaker 1>Grab a copy for your friends and family who want

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<v Speaker 1>to learn about Crypto. It would make a great gift.

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<v Speaker 1>It provides investing tips and much more. And if you've

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<v Speaker 1>and review. It will really help me out. Thank you, guys.

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<v Speaker 1>Links will be in the description. I appreciate you all,

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<v Speaker 1>Thank you so much, and I'll talk to you all later.

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<v Speaker 1>Task Past the task pos