Speaker 1: The first XRP ETF in the United States is going
Speaker 1: live tomorrow. I'll give you the details, who's the issuer
Speaker 1: and what type of ETF it is. And the SEC
Speaker 1: is hosting its next crypto roundtable this Friday. I'll share
Speaker 1: the list of attendees. And one of the major crypto
Speaker 1: investment firms is looking to go public this year on
Speaker 1: the NASDAC. I'll give you all the details. Let's get
Speaker 1: into it. Hey, everybody, welcome into the Thinking Crypto podcast,
Speaker 1: your home for cryptocurrency news and interviews. I'm your host,
Speaker 1: Tony Edward. On your way in. Please sit that subscribe
Speaker 1: button as well so thumbs up button and leave a
Speaker 1: comment below. If you're listening on a podcast platform such
Speaker 1: as Spotify or Apple, please leave a five star rating
Speaker 1: and review. Folks, there's nothing new to report on the price.
Speaker 1: In this morning's live stream, we broke down the different
Speaker 1: things that are happening and that Bitcoin, even though it
Speaker 1: started moving below eighty k, still holding up strong. But
Speaker 1: the stock market's still seeing a lot of pain, but
Speaker 1: nothing new and we have to wait for there to
Speaker 1: be some sort of resolution as it relates to the tariffs,
Speaker 1: and in addition, some sort of signal from the FED
Speaker 1: on ray cuts as well as quantitative easing. So at
Speaker 1: this point it's a waiting game. So just want to
Speaker 1: let you know about that. Now big news. We got
Speaker 1: James Seyfford of Bloomberg, he's an ETF research analyst, said
Speaker 1: that too, cream from saying that right is launching the
Speaker 1: first XRP ETF in the US tomorrow. It's x XRP
Speaker 1: will be a two x long XRP futures. So the
Speaker 1: description from Bloomberg terminal is the two x long daily
Speaker 1: XRP ETF is an ETF incorporated in the United States.
Speaker 1: The fund seeks daily investment results before fees and expenses
Speaker 1: that correspond to two times the daily priced performance of
Speaker 1: XRP for a single day, not for any other period. So, guys,
Speaker 1: a couple of takeaways here. One, the first XRP ETF.
Speaker 1: Clearly there's demand for this asset. And we saw that
Speaker 1: XRP futures went live on bitnomial and they will be
Speaker 1: going live on coinbase later this month. We know that
Speaker 1: there are over nine XRP spot ETF applications in with
Speaker 1: the SEC Now there's also solana ETFs and much more
Speaker 1: so the market wants all coin ETFs, and of course
Speaker 1: xrps up there, and we had some resolution with the
Speaker 1: Ripple case. We're still waiting for the SEC to put
Speaker 1: the official announcement out, but the Ripple team highlighted that
Speaker 1: this thing is essentially wrapped up. They'll pay their fifty
Speaker 1: million dollars fine and move forward from there. So I
Speaker 1: expect the XRP, Solana and other ETFs to get approved.
Speaker 1: Is just a matter of time, and hopefully it doesn't
Speaker 1: happen anytime soon. It happens when the market is rebounding
Speaker 1: out of this tariff madness, right folks. So, but this
Speaker 1: is a very good sign guys that this is going live.
Speaker 1: We're just seeing a lot more products around XRP going live,
Speaker 1: and like I said, there's appetite for a lot of
Speaker 1: all coins, especially those in the top ten. We saw avax,
Speaker 1: Hbar and even doge as well, So all good signs
Speaker 1: of things to come. This is very bullish in my opinion. Now,
Speaker 1: Attorney John Deeton weighed in on this news and he
Speaker 1: highlighted the juxtaposition of how things were four years ago
Speaker 1: versus now. He says, what a difference four years makes
Speaker 1: and around this time four years ago, I was filing
Speaker 1: a motion to intervene into the ripple case, asking Judge
Speaker 1: Torres to allow a putative class of XRP holders to
Speaker 1: become actual defendants in the case. Most lawyers laughed at
Speaker 1: my motion, although to be honest, I didn't blame them
Speaker 1: or even get mad. It had never been done before.
Speaker 1: I knew Judge Torres would never force the sec to sue.
Speaker 1: At the time twelve six hundred XRP holders, which eventually
Speaker 1: grew to seventy five thousand. But man, did it send
Speaker 1: the right message. Other than sending that message, my real
Speaker 1: goal was to be appointed a MESI counsel with participatory right,
Speaker 1: which in effect she did. In her summary judgment decision,
Speaker 1: she ruled XRP itself is not a security, citing XRP
Speaker 1: holder affidavits as one of the reasons for her decision.
Speaker 1: On two separate occasions with her In a written ruling,
Speaker 1: Judge Taurus cites the efforts we made the affidavits and
Speaker 1: at footnote sixteen and today this is like the twentieth
Speaker 1: XRP related etf. Never say you can't make a difference,
Speaker 1: So shout out to John Right. He really helped in
Speaker 1: getting this resolve and helped put the SEC in check
Speaker 1: here under Gary Ginster's tenure. Of course, now moving ahead,
Speaker 1: the SEC has a Crypto Task Force roundtable this Friday.
Speaker 1: This will be their second and there are actually five
Speaker 1: that are scheduled for this year, so this second one
Speaker 1: will take place this Friday. This meeting will focus on
Speaker 1: tailoring regulation for crypto trading and will include representativesm coinbased, UNISWAP, Cumberland,
Speaker 1: Falcon Network and others. So the SEC tackling different aspects
Speaker 1: of crypto at these different roundtables. Folks, this is what
Speaker 1: we wanted to see under Gary Ginzer's tenure, but we
Speaker 1: know his actions were politically motivated. He was a puppet
Speaker 1: on strings being controlled by Elizabeth Warren, who was in
Speaker 1: turn being controlled by the Tradify incumbents getting disrupted. But
Speaker 1: it's night and day right, complete one eighty from what
Speaker 1: took place over the past four years, and incredible what
Speaker 1: the SEC is doing now to transparency, working with the industry,
Speaker 1: having dialogue meetings and much more so. I'm very bullish
Speaker 1: in the future of crypto guys. Things are setting up
Speaker 1: really nicely here. Now. We also got news that Mike
Speaker 1: novograts is Galaxy Digital is redomiciling from the Cayman Islands
Speaker 1: to Delaware to take advantage of the US's new crypto
Speaker 1: friendly environment. The company plans to list on the NASDAQ
Speaker 1: after completing its reorganization. It currently lists on the Toronto
Speaker 1: Stock Exchange now. Mike novograts tweeted about this, saying, this
Speaker 1: is a big milestone for Get Galaxy. Our registration and
Speaker 1: statement is now effective with the SEC. We're on track
Speaker 1: to list on NASDA shortly after our shareholder vote on
Speaker 1: May ninth, contingent on completing our reorganization. Let's go now.
Speaker 1: Many of you may know Mike Novogratz is a billionaire investor.
Speaker 1: He started in the tradfi markets. He came to crypto,
Speaker 1: built a huge firm. They've invested in many different companies
Speaker 1: and coins, and they've been successful. Now, many of you
Speaker 1: know the blow up with Luna, right Mike, I think
Speaker 1: absolutely regrets that he got a terror Luna tattoo on
Speaker 1: his arm and all that. That was a shit show,
Speaker 1: of course, but I think he's learned his lesson. But
Speaker 1: regardless of that situation, Galaxy is a successful firm making
Speaker 1: incredible returns. And again signs that people are bullish, they're
Speaker 1: looking to go public. Right. We just saw a circle
Speaker 1: filed to do an IPO. E Toro had also filed
Speaker 1: to be or to go public. So the signs are
Speaker 1: there that people see recovery in this market and the
Speaker 1: bull market continuing, and that crypto will continue to grow
Speaker 1: and going public and being listed publicly is going to
Speaker 1: be big for them. So, guys, a sign of the
Speaker 1: times and what's to come. Incredible stuff here now, guys.
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Speaker 1: look at this. We continue to see major Wall Street
Speaker 1: firms get involved in crypto, whether they're launching products, tokenizing,
Speaker 1: or they're investing in different companies. And here Franklin Templeton
Speaker 1: leads a seed round into a stable coin startup looking
Speaker 1: to outsourced yield generation for users. So not only does
Speaker 1: Franklin Templeton have ETOs, Big one, etherar metfs and they
Speaker 1: have just recently filed for an exart p ETF. They
Speaker 1: are tokenizing and now they're investing. Do you see where
Speaker 1: things are headed? Right? They're not bearrish on crypto, guys,
Speaker 1: black Rocks, not bearish on crypto. They're bullish, but they
Speaker 1: have the macro view. So the company they let a
Speaker 1: seed round in is called cap Cap and they led
Speaker 1: an eight million dollar seed round. This is a blockchain
Speaker 1: startup looking to launch an interest bearing stable coin and
Speaker 1: accompanying lending market. So the funding round follows a one
Speaker 1: point one million dollar community round on the crowdfunding platform
Speaker 1: Echo created by Jordan kobe Fish. Previously, Angel investors in
Speaker 1: cap included prominent members of the so called mega eth mafia,
Speaker 1: venture capitalist Spencer Noon, Layer zero founder Brian Pellegrino, BlockWorks
Speaker 1: founder Jason Janowitz, and investors as so sated with platforms
Speaker 1: like ether Fi, Steakhouse Financial, and Meteoria. So Cap is
Speaker 1: deploying its core protocol using the shared security marketplace eigenlayer,
Speaker 1: which allows users to reuse the security generated from staked
Speaker 1: assets around multiple platforms. The solution ultimately settles on Ethereum,
Speaker 1: but will focus its growth and usage on megaeth. Then
Speaker 1: they send etherorem layer to design as an alternative to
Speaker 1: the roll up centric universe. Guys, I mean, I don't
Speaker 1: know what else to say. I see the biggest firms
Speaker 1: in the world on Wall Street, banks, stock exchanges are
Speaker 1: much more going all in on crypto in many different
Speaker 1: ways and facets. It's incredible. So this is I often say,
Speaker 1: these type of news items are not making headlines on CNN, Fox, MSNBC,
Speaker 1: the mainstream right. The masses are not paying attention to
Speaker 1: what's happening here, but eventually they will. They're going to
Speaker 1: be using the technology and they're going to come in late,
Speaker 1: but the opportunities here to get in early and obviously
Speaker 1: make great returns. Now, Crypto, of course is a global
Speaker 1: asset class, and we continue to see a move towards
Speaker 1: crypto globally. So Hong Kong allows crypto staking for licensed
Speaker 1: platforms etf as global competition heats up. Guys. Remember what
Speaker 1: I've been saying, and I wrote the newsletter. Hong Kong's
Speaker 1: the testing around for China. I believe China is going
Speaker 1: to open up ETF investing for bitcoin in e theorem
Speaker 1: to its mainline citizens. And the reason why the ETFs
Speaker 1: will be appealing it allows the capital to stay in
Speaker 1: the country. One of the challenges or what the Chinese
Speaker 1: government is trying to do is they've tried to put
Speaker 1: various to capitalism leave their country. But if people put
Speaker 1: it into bitcoin in the ETF format, it ain't go nowhere.
Speaker 1: It's staying there, right, it's a financial product. Now if
Speaker 1: they buy the bitcoin directly on exchanges, it can easily
Speaker 1: be moved out. So this is why I believe China
Speaker 1: is going to embrace this because it fits within what
Speaker 1: the hell they're trying to do. Whether it's right or wrong,
Speaker 1: it's not for me to debate or here, but I'm
Speaker 1: just giving you my thoughts and the facts about what's happening.
Speaker 1: So this is huge. So Hong Kong's top financial regulator
Speaker 1: now allows licensed crypto platforms and exchange traded funds to
Speaker 1: offer staking services, marking a step closer to the region's
Speaker 1: ambition of becoming a cryptocurrency hub. Guys game theories playing
Speaker 1: out here dominoes are falling globally. In a statement release Monday,
Speaker 1: the Hong Kong Securities and Futures Commission said it provided
Speaker 1: regulatory guidance about staking for licensed virtual asset trading platforms
Speaker 1: and for crypto ETFs. Here's a quote. We have noted
Speaker 1: investors demand for staking services and the potential for staking
Speaker 1: activities to contribute to the security of the blockchain now work.
Speaker 1: The SFC stipulates that vatps must obtain the regulator's prior
Speaker 1: written approval before offering staking service, and crypto ETFs are
Speaker 1: also required to seek approval to engage in staking. Specifically,
Speaker 1: crypto firms are required to implement safeguards to prevent service
Speaker 1: related errors, protect clients staked crypto assets, and clearly disclose
Speaker 1: associated risks. Guys, is what I've been saying for a
Speaker 1: long time. They're not gonna ban it, they're gonna embrace it.
Speaker 1: They're gonna put the guardrails, they're going to tax the
Speaker 1: hell out of it, right because they want their revenue
Speaker 1: off of it, of course, and I hope you recognize
Speaker 1: that globally, there's a movement, a race here for the
Speaker 1: land grab. Now. One of the things we're waiting for
Speaker 1: here in the United States is for the SEC to
Speaker 1: prove staking in the etherorem ETF, and then when they
Speaker 1: add other proof of steak all coin ETFs, they also
Speaker 1: include staking there. I think, as I've been saying, that
Speaker 1: once staking is added to the eth ETF, it will
Speaker 1: attract a lot more inflows and it could be a
Speaker 1: strong narrative and catalyst that drives the price of etheroum
Speaker 1: higher as the bullmarket continues, and helps ETH because it's
Speaker 1: and suffering this bull market. So very bullish news here.
Speaker 1: Now this is news I highlighted in the livestream earlier,
Speaker 1: but I have to, you know, mention it again because
Speaker 1: it's so huge. So former Binance CEO and of course
Speaker 1: the founder, cz Or changpangs out. He just was appointed
Speaker 1: by the Pakistan government as a strategic advisor to Pakistan's
Speaker 1: Crypto Council. Remember he just did this for Kyrgyzstan. So
Speaker 1: shout out to Sizi man, he's doing some amazing work here.
Speaker 1: I know, indirectly this helps Binance, so it's a smart
Speaker 1: move on his part, but it also helps the adoption
Speaker 1: of crypto and he's going to these countries you know,
Speaker 1: who are maybe smaller countries. They don't have all the resources,
Speaker 1: they don't have maybe a lot of entrepreneurs in the
Speaker 1: crypto industry there. So he's going educating them, advising them
Speaker 1: on blockchain and much more so. Once again, look at
Speaker 1: where the puck is going right for crypto. Incredible stuff here.
Speaker 1: I mean this is just huge and countries which you
Speaker 1: wouldn't even think about would be involving crypto, like what
Speaker 1: I've thought. Okay, what about Podkistan, right or Kyrgyzstan. You know, somebody,
Speaker 1: these countries are very small. You don't hear much about them.
Speaker 1: They're not top of mind. But look, crypto is a
Speaker 1: global asset class in technology. I'll say it for the
Speaker 1: million time. Your economy, your markets, and your government will
Speaker 1: be running on blockchain. That is the future. As Larry
Speaker 1: Thing said, tokenization is the future of finance. They're going
Speaker 1: to put everything on the blockchain, guys. So that's the news.
Speaker 1: I know the tower of stuff is causing a lot
Speaker 1: of fear and uncertainty, but guys, look past it. As
Speaker 1: always when in dowed zoom out, it's all higher highs
Speaker 1: and higher lows. Yes, we have a roller coaster ride
Speaker 1: in the markets. Yes there's crashes in markets, right, it
Speaker 1: has happened throughout history. But what happens recovery. They're going
Speaker 1: to print money the world government's essential banks, the FED
Speaker 1: is going to do it. They may not call it
Speaker 1: quantitative easing, they'll call it something else. But as long
Speaker 1: as they're injecting liquidity and that comes from debasing the currency,
Speaker 1: asset prices will rise. So I hope you understand how
Speaker 1: this game works, and you understand the macro here, and
Speaker 1: you're not listening to Jim Kramer, but you understand the
Speaker 1: principles of the market and what's going on. Folks, let
Speaker 1: me know what you think. Leave your thoughts and comments
Speaker 1: below hit the thumbsup button. A great way you can
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Speaker 1: Also check out my book on Amazon. It's available in
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Speaker 1: com Expand your crypto knowledge. Knowledge is power. This is
Speaker 1: a comprehensive course that covers every aspect of crypto. It's
Speaker 1: at mycryptocurse dot com. Guys, thank you for watching and listening.
Speaker 1: I appreciate you all. And i'll talk to you all
Speaker 1: later two of three two