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 let 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
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Speaker 1: five star rating. Well, folks, I've got bad news for you.
Speaker 1: The Claritiac vote is not going to happen. Senator Thune
Speaker 1: has confirmed via Politico that the vote will happen in September,
Speaker 1: when the Senate and the House returned back into office.
Speaker 1: So this is, of course disappointing, but it should come
Speaker 1: as no surprise because, as we've been covering over the
Speaker 1: past a few weeks, there were many headwinds and things
Speaker 1: were not moving and time was not on our side.
Speaker 1: And now the whole vote before the August recess has collapsed.
Speaker 1: So a reporter from Politico said, Senator Thune just confirmed
Speaker 1: our scoop that the Senate is punting Claritiact vote until September.
Speaker 1: So both the Senate and the House will return into
Speaker 1: office on September fourteenth. So let's see what they can
Speaker 1: get done. It's going to be tough because we are
Speaker 1: in a midterm election year and you can imagine the
Speaker 1: Democrats are going to try to use this against Trump
Speaker 1: with many different aspects, you know, with the ethics as
Speaker 1: well as the banking lobby pushing back on this bill.
Speaker 1: So things are not looking good. But here we go, folks.
Speaker 1: You know, it's going to be a mess. And if
Speaker 1: we don't get this bill done, you know, let's say
Speaker 1: before President Trump leave's office, it opens the door for
Speaker 1: another administration to come in and to roll back the
Speaker 1: updates the SEC, CFTC and the other agencies have done.
Speaker 1: So it's not the end of the world that this
Speaker 1: is not going to pass. Let's say it doesn't pass
Speaker 1: even in September, because the agencies are providing the guidance. Sorry,
Speaker 1: the SEC and the CFTC have been providing the rulemaking.
Speaker 1: The problem, as mentioned, is that if the Claritiact is
Speaker 1: not passed, then those things don't be law officially, right,
Speaker 1: So that's the risk. But we still got time, you know,
Speaker 1: to get something done. But the ideal timing would have been,
Speaker 1: you know, before the August recess. But unfortunately, here where
Speaker 1: is where we're at Our government is not able to
Speaker 1: get this done. So it's pretty annoying, of course. And
Speaker 1: then something you should know about. Another Republican came out.
Speaker 1: Senator Jerry Moran said he's a no on the claritiac
Speaker 1: vote because of the bank stable coin Yale situation. Yesterday
Speaker 1: we talked about another Republican, Josh Holly, who was also
Speaker 1: saying the same thing. So the banking lobby fighting very hard.
Speaker 1: You know, they're cutting the big checks and despite the
Speaker 1: spending that the crypto industry has done, the banking lobby
Speaker 1: is looking to outspend them. So it might be a
Speaker 1: very tough midterm election. Let's see, you know, unless they're
Speaker 1: able to find a good compromise in September. But again
Speaker 1: election year, and you need the Democrats to get this done.
Speaker 1: There was some updates on the ethics compromise, nothing confirmed,
Speaker 1: but apparently the details where the bipartisan ethics plan is
Speaker 1: to require Trump to sell crypto assets. Trump could net
Speaker 1: tax windfall in crypto bill divestiture deal. So obviously this
Speaker 1: doesn't matter right now because the bill is not going
Speaker 1: to get voted on anyway. But let's see if Trump
Speaker 1: and the White House agree to this come September and
Speaker 1: if this is still going to be a headwind, because
Speaker 1: if they agree to it, then maybe there's some additional
Speaker 1: compromise on the stable coin front and they could potentially
Speaker 1: push this bill through. Now, Senator Tim Scott did go
Speaker 1: on Fox Business earlier in the day. You know, he
Speaker 1: was giving some hope. You know, he said, we will
Speaker 1: stay here longer for the next two days, and much
Speaker 1: longer if needed. But of course this is a non
Speaker 1: starter because Senator Thune came out and said it ain't happening.
Speaker 1: So unfortunate. Now, Now, what's interesting the price of bitcoin
Speaker 1: is not reacting negatively, and it goes back to what
Speaker 1: I was talking about in yesterday's podcast as well as
Speaker 1: in my newsletter from yesterday, that potentially this negative news
Speaker 1: of no vote could already be priced in. Now I
Speaker 1: was born at night, but not last night. Obviously, we
Speaker 1: got to give it time. The market could dump tomorrow,
Speaker 1: over the weekend or early next week. Right, But let's
Speaker 1: say it doesn't dump. There is a possibility that it
Speaker 1: is priced in, and that bitcoin in the crypto market
Speaker 1: could follow the lead of the stock market, which has
Speaker 1: been hitting new all time highs at s and P
Speaker 1: five hundred and more. So let's see what happens. It
Speaker 1: would be a very good sign like I said, if
Speaker 1: this thing doesn't dump. And the signals we're seeing is
Speaker 1: that the RSI is in the neutral zone and the
Speaker 1: MACD just flipped bullish, so it literally just flipped bullish.
Speaker 1: You had a bullish cross here and this is on
Speaker 1: the daily chart. On the weekly chart, we have the
Speaker 1: bullish divergence and the MACD has already flipped bullish, right,
Speaker 1: So these things are in our favor. The charts, the metrics,
Speaker 1: and the information still looks good here. But again maybe
Speaker 1: the bad news hasn't gone through the news cycle yet
Speaker 1: and you know, there could be a massive sell off
Speaker 1: tomorrow or next week. So we shall see. But fingers
Speaker 1: crossed that it doesn't. And regardless, you know, if you
Speaker 1: have the macro view, guys, that this bullish divergence on
Speaker 1: the weekly chart is incredibly bullish because it means we
Speaker 1: are about to turn the corner and flip bullish. And
Speaker 1: I think that would align with you know, I believe
Speaker 1: Trump doesn't want to go into the midterm elections with
Speaker 1: the markets and the dump, and I believe the stock
Speaker 1: market and much more is going to rip, and I
Speaker 1: think crypto's going to follow that. So we could see
Speaker 1: a very strong and year end rally because of the
Speaker 1: signals we're seeing here, plus those macro factors of you know,
Speaker 1: a FED under Trump's control and you know, liquidity and
Speaker 1: all these things being pushed into markets. So we shall
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Speaker 1: will be in the description. All right, Moving ahead, France
Speaker 1: proposes a strategic Bitcoin Reserve bill to acquire two percent
Speaker 1: of bitcoin's total supply. This is interesting. We are seeing
Speaker 1: a lot of these bitcoin reserve bills popping up around
Speaker 1: the globe, so everyone is looking to regulate crypto. Yesterday
Speaker 1: we talked about Russia signing their respective crypto legislation into place,
Speaker 1: and the United States of course, still has this bitcoin
Speaker 1: reserve bill open so to speak. You know, the ability
Speaker 1: to buy has not been confirmed yet, but they have
Speaker 1: established the reserve with bitcoin they have seized over the years.
Speaker 1: But other countries are going to follow suits. So if
Speaker 1: this does become law, it will be huge and game
Speaker 1: theory will certainly play out now. Plume has joined DTC's
Speaker 1: Digital Assets Solutions Industry Working Group alongside the NASDAQ Charleis
Speaker 1: Schwab and Alpaca. Incredible names here, guys who are getting
Speaker 1: involved with digital assets, crypto and blockchain, and they're forming
Speaker 1: their own associations and groups. I mean, we've come a
Speaker 1: long way, going back to when I got into the
Speaker 1: market in twenty sixteen and seeing icos and this market
Speaker 1: being so young and it's maturing, and you have the
Speaker 1: biggest institutions in the world now getting involved and leading
Speaker 1: the charge. It's pretty incredible. Sometimes I have to pinch
Speaker 1: myself that this is actually happening, because we've waited so
Speaker 1: long for it. I've been through multiple bull and bear
Speaker 1: market cycles, a lot of food and now we've certainly
Speaker 1: crossed the chasm of institutional adoption. Coinbase has launched twenty
Speaker 1: four or five US stock trading in the UK, offering
Speaker 1: nearly four thousand equities with zero commission trading and fractional
Speaker 1: shares from one euro funded by GBP or USDC. So
Speaker 1: you have both native crypto firms like coinbase and traditional
Speaker 1: financial firms launching tokenized stocks and et apps and much more. So. Eventually,
Speaker 1: I've said many times, these markets are going to become blended.
Speaker 1: It won't be crypto and stocks and so on and
Speaker 1: so forth. It's all going to be one market because
Speaker 1: it's all going to be running on blockchain rails. So
Speaker 1: this is the future, guys, and everybody's trying to build
Speaker 1: out as fast as possible around the globe, get as
Speaker 1: much market share as possible. Here's another example. Hong Kong
Speaker 1: launches a token is securities framework powered by chain Link,
Speaker 1: So I'm bullish on Link. I have that in my portfolio,
Speaker 1: standardizing issuance, distribution and settlement of tokenied securities with cyberport,
Speaker 1: Apex Group and regulated broker CSPro among participants. So again
Speaker 1: global movement to launching the token economy, integrating crypto and
Speaker 1: blockchain tech. Here's another example. Tether expands tokenization business into
Speaker 1: Saudi Arabia, starting with real estate. So they're going to
Speaker 1: put all asset classes on chain, guys, it's going to
Speaker 1: take time, but you can see stocks, equities, ETFs, real
Speaker 1: estate gold. Tether is already doing gold, and we know
Speaker 1: they've already tokenized the dollar, right, so they were the
Speaker 1: first stable coin to have that mass appeal and mass adoption.
Speaker 1: So guys, I mean, this is incredible stuff. So the
Speaker 1: company said Thursday that it's tokenization platform, dubbed Hadron, will
Speaker 1: provide the technology to issue and manage tokenized real estate
Speaker 1: assets for institutional investors in the country. Tether is teaming
Speaker 1: up with the Saudi partners First Data and fintech company
Speaker 1: bk N three oh one on the effort, so the
Speaker 1: operating model could later expand and beyond real estate into energy, infrastructure, finance,
Speaker 1: and other real world assets. The firm said, So, guys,
Speaker 1: it's going to start with these well known asset classes
Speaker 1: and then they're going to expand. So pretty incredible what's
Speaker 1: being built here now. Final news item crypto marketmaker winter
Speaker 1: Mute launches a US broker dealer. Winter Mute is pretty big.
Speaker 1: They're one of the largest market makers. They've certainly got
Speaker 1: a lot of bad social media comments, you know, as
Speaker 1: the bear market started. They're they're not like the active
Speaker 1: sellers like they just provide the market may gifts people
Speaker 1: want to sell. The provide that liquidity, people want to
Speaker 1: buy the you know, provide the assets. So you know,
Speaker 1: sometimes people aim their anger at the market makers versus
Speaker 1: who's actually selling, right. So on Thursday, winter Mute announced
Speaker 1: its affiliate, winter Mute US a LLC, has registered with
Speaker 1: the US sec and Financial Industry Regulatory Authority FINRA. The
Speaker 1: registration allows winter met USA to trade stocks and stock
Speaker 1: options and act as an authorized participant for exchange traded products,
Speaker 1: including those tied to digital assets. So winter Mute said
Speaker 1: the registration allows the firm to position itself for the
Speaker 1: emerging tokenized securities landscape. So again, everybody's building here, getting
Speaker 1: their infrastructure together. You know, there's a saying the bear
Speaker 1: market is for building, right, that's when you can lock
Speaker 1: in and build. And we're seeing a lot of that,
Speaker 1: not only from crypto native firms, but trat five firms.
Speaker 1: So pretty incredible stuff. And I know the CLARITYAC news
Speaker 1: is a bummer, but you know, we kind of expected
Speaker 1: that and let's hope that we can get something done
Speaker 1: in September. But we continue to see incredible adoption of
Speaker 1: crypto The technology is not going away just because the
Speaker 1: building and pass it doesn't mean crypto's dead again. You're
Speaker 1: going to see those narratives, right, and maybe that's how
Speaker 1: it goes right. Those narratives are going to be pushed.
Speaker 1: The price goes down, sentiment goes down. People are gonna feel, oh,
Speaker 1: it's over, but they're missing all the building and investing
Speaker 1: that's happening. Despite the delays in the claritiac right, there
Speaker 1: will be crypto legislation in the United States. It is
Speaker 1: just we have to go through the painstaking sausage making
Speaker 1: process of the government and you know, all the crap
Speaker 1: we have to deal with, right with Elizabeth Warren and
Speaker 1: all these anti crypto people and much more. But we'll
Speaker 1: get there. The disruptive technology always wins, and as we
Speaker 1: always talk about, watch what they do, not what they say,
Speaker 1: and we're seeing just investing, building and much more so. Guys,
Speaker 1: let me know what you think about this news. Leave
Speaker 1: your thoughts and comments below, hit the thumbsup button. Subscribe
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Speaker 1: that teaches you everything you need to know about crypto
Speaker 1: and all the links will be in the description. So folks,
Speaker 1: thank you so much for tuning in. I appreciate you
Speaker 1: all and all time. Up to you all later m h.