Speaker 1: The Nasdaq Stock Exchange has filed with the SEC to
Speaker 1: list bitcoin index options and they have a plan to
Speaker 1: boost crypto adoption. And Bitwise Asset Management makes another huge
Speaker 1: acquisition which is going to further expand their crypto services,
Speaker 1: as Russia is getting ready to use crypto for international
Speaker 1: payments next week and a Solana restaking protocol gets eighty
Speaker 1: million dollars in funding. We're going to break this down
Speaker 1: in much more. Let's get into it. Hey, everybody, welcome
Speaker 1: into the Thinking Crypto podcast, your home for cryptocurrency news
Speaker 1: and interviews. I'm your host, Tony Edward. On your way in.
Speaker 1: Please let that subscribe button aswals a thumbsup button, and
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Speaker 1: platform such as Spotify or Apple, please leave a five
Speaker 1: star rating and review. Folks, you got some very big
Speaker 1: news from one of the major players on Wall Street.
Speaker 1: So here's the headline. Nasdaq seeks SEC approval for a
Speaker 1: bitcoin index options, aims to boost crypto market maturity. That's
Speaker 1: a big statement. They aim to boost crypto market maturity.
Speaker 1: And we're seeing all of Wall Street, all the big
Speaker 1: banks are getting involved. They're launching financial products they're tokenizing,
Speaker 1: so it's no surprise that Nasdaq is doing this. Let
Speaker 1: me give it to details. Nasdaq, in collaboration with CF Benchmarks,
Speaker 1: has followed with the SEC to list and trade the
Speaker 1: Nasdaq Bitcoin Index Options x BTX. If approved, this new
Speaker 1: product will offer investors a sophisticated tool to manage and
Speaker 1: hedge their Bitcoin investments through options, which the NASDAC said
Speaker 1: will further the maturity and liquidity of the acid class. Wow, folks,
Speaker 1: I am so bullish and so excited. I know the
Speaker 1: prices right now don't reflect that, and I know Bitcoin
Speaker 1: has pulled back. It's currently like fifty nine thousand or
Speaker 1: whatever it may be. And I told you guys before
Speaker 1: the major run up that's going to come into latter
Speaker 1: half of September, Bitcoin may retest the lows again, which
Speaker 1: I think it's doing. That's fine, we are still in track.
Speaker 1: But the big players like the NASDAC don't care about
Speaker 1: these small, volatile moves. They're looking at the macro and
Speaker 1: that is we are going to higher highs. We are
Speaker 1: seeing higher highs and higher lows and we have not
Speaker 1: entered the parabolic phase of this bull market yet. And
Speaker 1: all of Wall treat is here. As mentioned, we've got
Speaker 1: ETF's tokenization and much more, and new financial products are
Speaker 1: being built. If you don't understand what's happening here, then
Speaker 1: you are completely missing the mark. You're too caught up
Speaker 1: in the micro of Oh no, the price just went
Speaker 1: down today, okay, But what happens when you zoom at
Speaker 1: on the chart The price is up right, and you
Speaker 1: have to understand what's being built, the infrastructure that's being
Speaker 1: set up and so forth. But this is very big news.
Speaker 1: Here's some more big news. Bit Wise Bitcoin ETF to
Speaker 1: acquire the assets from Osprey Bitcoin Trust. So Bitwise Asset
Speaker 1: Management has their own bitcoin etf e ETF and even
Speaker 1: before these ETFs were launched, they had index ones and
Speaker 1: much more around crypto. And I've had Matt Hogan, the
Speaker 1: chief investment officer at Bitwise, on the pod many times.
Speaker 1: So let me give to details here. Ostpury Bitcoin Trust
Speaker 1: OBTC sponsor Osprey Funds, has entered an agreement with the
Speaker 1: Bitwise Bitcoin ETF and Bitwise Asset Management in which a BitB,
Speaker 1: which is the ticker symbol of Bitwise's Bitcoin ETF, will
Speaker 1: acquire all of the OBTC Funds assets The move comes
Speaker 1: after Ospray noted that it was considering a potential sale
Speaker 1: or merger with a bitcoin etf amid other strategic maneuvers
Speaker 1: in March of this year. Osprey had until September one,
Speaker 1: twenty twenty four, to complete the sale or merger, or
Speaker 1: else it would have liquidated OBTC. Here's a quote. As
Speaker 1: part of the transition, OBTC unit holders will receive shares
Speaker 1: of BitB as part of a liquidating distribution of OBTC.
Speaker 1: For example, BitB holders there will be no change to
Speaker 1: their shares or any changes to the operation of BitB.
Speaker 1: Osprey Funds wrote in a Tuesday release. Bitb's acquisition of
Speaker 1: OBTC follows bit one is acquisition of London based crypto
Speaker 1: exchange Traded Products issuer etc Group on August nineteenth. Big
Speaker 1: moves by the folks at bitwise. I will have Matt
Speaker 1: Hogan of Bitwise Asset Management back on the pod very
Speaker 1: soon to talk about this. These are smart moves they're
Speaker 1: making increasing their market share, and not only in the
Speaker 1: United States but globally as well. So big move here now, guys.
Speaker 1: As we've had a lot of volatility in the market
Speaker 1: has pulled back. We've got data here from crypto quon
Speaker 1: that ethereum whales have accumulated more than two hundred thousand
Speaker 1: eighth over the last four days. That's approximately five hundred
Speaker 1: and sixteen million dollars, So whales are buying up. We
Speaker 1: see the ETF inflows have increased despite the volatility, and
Speaker 1: I think everybody sees what's on the horizon. Fed Ray
Speaker 1: cuts money printing, Global equidities on the rise, so we're
Speaker 1: entering the easy money cycle, and we're going to see
Speaker 1: as rates start getting cut, a lot of the money
Speaker 1: that's stuck in money market accounts and that are earning
Speaker 1: high trists are going to move their cash and money
Speaker 1: out of there because you're not getting the same level
Speaker 1: of return. You want to go risk on and put
Speaker 1: it into risk assets and make your return. So there's
Speaker 1: going to be a lot of liquidity coming into these
Speaker 1: asset class folks, and not just crypto, but of course
Speaker 1: the stock market. We are still in a macro bull
Speaker 1: market for real estate, crypto, and stock. So I'm very
Speaker 1: bullish despite what's happening in the micro here. Now we
Speaker 1: got new somem Donald Trump today he released his new
Speaker 1: official Trump Trading cards on bitcoin ordinals, and this is
Speaker 1: not the first go around he's been doing this. Now,
Speaker 1: I could care less about this stuff. If you're a
Speaker 1: Trump fan and you like it, go for it. What
Speaker 1: I care about is the adoption that a presidential candidate,
Speaker 1: former president is taking a technology and building with it. Right,
Speaker 1: he's using it for NFTs. He's going to be launching
Speaker 1: a new DeFi project. I guess pretty soon. We saw
Speaker 1: some information from him and his sons, and I'm actually
Speaker 1: very optimistic about that. But I could care less about
Speaker 1: these Trump cards. The other factor that about today is
Speaker 1: will SEC chair Gary Ginster go after Donald Trump about
Speaker 1: these right saying, oh, these NFTs are securities offerings. Remember
Speaker 1: that's what they think. I don't think NFTs are security
Speaker 1: is offerings. It's like comic books or baseball cards and
Speaker 1: so forth. But Gary's a scumback, so you know, you
Speaker 1: never know. And we've seen the SEC go after NFT
Speaker 1: projects like Stonercats and others. So let's see. I don't
Speaker 1: think this is a fight Gary wants to pick. But
Speaker 1: then Gary may want to get some revenge for Donald
Speaker 1: Trump saying he would fire him up on the first
Speaker 1: day at the Bigcoin conference. So we'll have to wait
Speaker 1: and see. Now, we got news that Russia is going
Speaker 1: to start using crypto for international transactions next week. This
Speaker 1: is big, folks, And this has nothing to do with
Speaker 1: you know, if you love or hate Russia, that's not
Speaker 1: the point. The point is of his adoption, the change
Speaker 1: of the guard. Here the new technology getting penetration in
Speaker 1: all parts of society and life, and it's here to stay.
Speaker 1: It's not going away to genies. Out the bottle and
Speaker 1: there's no putting it back in. So I'm gonna wait
Speaker 1: for final confirmation for this to go live next week
Speaker 1: and we can see if possible, you know, some of
Speaker 1: the wallet addresses and transactions and so forth. But this
Speaker 1: is pretty big news. We got news that Solana restaking
Speaker 1: protocol Solayer reaches eighty million dollar valuation with twelve million
Speaker 1: dollar seed funding round. So of course with Solana you
Speaker 1: can stake your tokens. That's really great. You can earn
Speaker 1: passive income. I'm not too sure about the whole restaking idea,
Speaker 1: you know, there there have been people are saying this
Speaker 1: this is kind of risky. I need to research it
Speaker 1: a bit more. I'm not fully educated on this, but
Speaker 1: once I have more details I'll definitely share with you, guys.
Speaker 1: But earlier this month, Binance Labs that it had invested
Speaker 1: in Solayer, and the co founder, Racial Shoe says that
Speaker 1: the firm's investment is part of the same twelve million
Speaker 1: dollars seed round. Last month, Solayer also announced a pre
Speaker 1: seed funding round of undisclosed size from angel investors, including
Speaker 1: Solona co founder and A Tolly and Polygon co founder
Speaker 1: send Deep nay Wall. So interesting and like I said,
Speaker 1: don't know too much about restaking herd. There's some risks,
Speaker 1: but I could be wrong and I'm going to try
Speaker 1: to research this a bit more, all right. Speaking of Solana,
Speaker 1: the folks at robin Hood, specifically Johann Kerberrat, who's the
Speaker 1: crypto general manager at Robinhood, tweeted out super excited to
Speaker 1: announce that the Solana network is now live on the
Speaker 1: robin hood wallet. Starting today, you can self custody Salona
Speaker 1: tokens and send and receive over the Solona blockchain. Now.
Speaker 1: I'll be interviewing Johan pretty soon, guys. I'm really looking
Speaker 1: forward to this interview because it's Robinhood, right, and they've
Speaker 1: got a lot of customers. They've got a lot of
Speaker 1: capital and resources to build incredible things, and they're going
Speaker 1: all in on crypto and of course they are because
Speaker 1: it's the new asset class and everybody wants to share.
Speaker 1: So this is pretty big and Solana continues to get adoption. Now,
Speaker 1: we got some news here that tokenization pioneer Centerviews unveils
Speaker 1: leading market with morpho coin Base. The institutional real world
Speaker 1: asset lending market combines coin bases, Layer two network based
Speaker 1: and morpho volts using three varieties of tokenized treasury bills. So, folks,
Speaker 1: what we're seeing is tokenization on the rise, the adoption
Speaker 1: of tokenization, and we're seeing different blockchains being used. Ethereum
Speaker 1: here you got coinbases Base, which is the layer two
Speaker 1: on Etheroreum. Stellar Lumens is getting adoption as well, so
Speaker 1: really big. So the market will allow for the collateralization
Speaker 1: of the borrowing against Centrivisi's an amoy fund, tokenized t
Speaker 1: bills from mids and hashnoes us yeald coin. It's the
Speaker 1: first time a permissioned lending market will use Ethereum powered
Speaker 1: coin based verifications. The aim is to provide instant liquidity
Speaker 1: without having to actually redeem the underlying t bill. Folks,
Speaker 1: I often make this statement, but it's just to make
Speaker 1: sure this lends. Do you see what's happening? This is
Speaker 1: the future, as I've been talking to you guys for years,
Speaker 1: the token economy, everything running on the blockchains, even the
Speaker 1: tradifi assets like stocks, bonds and so forth, will be
Speaker 1: tokenized on the blockchain and game theories playing out here.
Speaker 1: There's a race. Clearly, black Rock wants to rule the
Speaker 1: market in all aspects ETFs tokenization and their tokenized fund
Speaker 1: hit over five hundred million dollars recently, so big things coming.
Speaker 1: And speaking of black Rock, ave Labs proposes integrating GHO
Speaker 1: Stability module with black Rocks Biddle. Ave Labs has introduced
Speaker 1: a temperature check proposal to update the GHO stability module
Speaker 1: to manage its stable coin system more efficiently by integrating BIDDLE,
Speaker 1: the tokenized fund from black Rock that represents traditional assets
Speaker 1: like cash and US Treasury bills. This contract enables the
Speaker 1: conversion of two tokens at a predetermined ratio. Ave Labs
Speaker 1: proposes to build a new instance of GSM that supports
Speaker 1: external integrations and related control mechanisms, specifically supporting Blackrocks Biddle
Speaker 1: the team wrote on the proposal, gsm exists to secure
Speaker 1: Ave's native stable coin gahos one to one convertibility with
Speaker 1: another asset. Ave explain, So, folks, with what BlackRock's doing,
Speaker 1: You're seeing these other ecosystems looking to integrate with Blackrock,
Speaker 1: and of course, right it's Blackrock, and they got a
Speaker 1: lot of resource, a lot of capital, so this is
Speaker 1: pretty smart of them to do this, and it's a
Speaker 1: sign of what's to come. Now, speaking of Blackrock, guys,
Speaker 1: I'm introducing a new type of content to the podcast
Speaker 1: and it will be specifically on YouTube and x It's
Speaker 1: video content. It's micro documentary, so it will feature specific
Speaker 1: topics and it will be in documentary format. And the
Speaker 1: first will be from Skeptic to believer black Rocks Larry
Speaker 1: Fink embrace a Bitcoin and crypto. So how Larry Fink
Speaker 1: essentially went from skeptic to becoming a bowl and now
Speaker 1: a major promoter of crypto. So I will be sharing
Speaker 1: that pretty soon, guys. I'm waiting for people to get
Speaker 1: back from the holidays, summer to be over, so it
Speaker 1: just should come very soon, maybe next week, and you
Speaker 1: don't want to miss these. I'll be doing them once
Speaker 1: per month, and you guys can suggest topics and so forth.
Speaker 1: But I put a lot of work into this, so
Speaker 1: I think you guys will like it and it will
Speaker 1: help spread the message of crypto and what's happening, guys,
Speaker 1: especially when you have big players like this, you know,
Speaker 1: getting involved. So bullish times are ahead by the dips
Speaker 1: where possible, not financial advice, of course, that's what I'm doing.
Speaker 1: I'm dollar cross averaging by the dips. So in full transparency,
Speaker 1: no bs, I bought some bitcoin, I bought some salon
Speaker 1: and eth in this dip. I felt like I wanted
Speaker 1: to top off my propolio bit on those top three
Speaker 1: just because you know they have a lot of visibility,
Speaker 1: liquidity and so forth. Don't get me wrong, I hold
Speaker 1: other coins like XRP, I hold avax, Cardanu and so forth,
Speaker 1: at algorand v chain as well. I am very bullish
Speaker 1: and I'm practicing what I'm preaching, and I'm expecting fireworks
Speaker 1: come this latter half of September into Q four and
Speaker 1: we will start to see the market scrip guys, So
Speaker 1: exciting times ahead. Don't forget to check out our sponsor, Uphold,
Speaker 1: which is one of the top cryptocurrency exchanges that you
Speaker 1: can buy Bitcoin and all the old coins. They have
Speaker 1: two hundred and sixty plus cryptocurrencies. Link will be in
Speaker 1: a description. Also, be sure to sign up for my
Speaker 1: free email newsletter on substack. It's one hundred percent free.
Speaker 1: And grab a copy of my book, Rethinking Crypto. It's
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Speaker 1: a copy to support the podcast. Buy a few copies
Speaker 1: for your friends and family who want to learn about crypto.
Speaker 1: If you bought a copy already, please leave a five
Speaker 1: star rating and review. It would really help me out.
Speaker 1: Thank you so much. I appreciate you all, and I'll
Speaker 1: talk to you all later than that.