WEBVTT 1 00:00:05.160 --> 00:00:08.400 Hey, everyone, Welcome into the Thinking Crypto podcast. You're home 2 00:00:08.519 --> 00:00:12.560 for cryptocurrency news and interviews. I'm your host, Tony Edward. 3 00:00:12.759 --> 00:00:15.240 On your way in. Please hit that subscribe button as 4 00:00:15.279 --> 00:00:17.239 well as a thumbs up button and leave a comment. 5 00:00:17.280 --> 00:00:20.000 Blow If you're listening on a podcast platform such as 6 00:00:20.000 --> 00:00:24.440 Spotify or Apple, please leave a five star rating and review. Okay, folks, 7 00:00:24.440 --> 00:00:26.359 we got to start with the price of bitcoin, because 8 00:00:26.399 --> 00:00:30.160 today bitcoin wiped up to seventy thousand dollars and that's 9 00:00:30.160 --> 00:00:34.280 the highest it has been in this respective consolidation zone, 10 00:00:34.640 --> 00:00:37.000 and it's attempting to break out, but it looks like 11 00:00:37.039 --> 00:00:39.600 you got rejected a bit here on the daily. Now, 12 00:00:39.640 --> 00:00:41.759 this is very much in the micro and the macro. 13 00:00:42.119 --> 00:00:45.079 We've been talking about a relief rally, right we're waiting 14 00:00:45.079 --> 00:00:47.759 for that move, but we can't rule out that Bitcoin 15 00:00:47.840 --> 00:00:50.679 could dump a bit below sixty k, go to the 16 00:00:50.840 --> 00:00:54.560 fifty five, fifty four to fifty three range, and that 17 00:00:54.560 --> 00:00:57.479 could be like a just quick dump and then it 18 00:00:57.479 --> 00:00:59.520 gets bought up really fast, because I believe a lot 19 00:00:59.520 --> 00:01:02.079 of big players are gonna scoop up bitcoin in the 20 00:01:02.119 --> 00:01:06.079 lows there and then the relief rally happens. But we 21 00:01:06.159 --> 00:01:08.959 are seeing that bigcoin's knocking at the door here to 22 00:01:09.000 --> 00:01:11.599 break through seventy k and we need to see that 23 00:01:11.760 --> 00:01:15.280 impulsive move that strength before we can say, hey, eighty 24 00:01:15.400 --> 00:01:19.319 thousand and eighty five thousand is coming potentially ninety thousand, 25 00:01:19.519 --> 00:01:21.079 So we're gonna have to wait and see what the 26 00:01:21.120 --> 00:01:24.040 market's doing. Some positive signs is that the bulls are 27 00:01:24.040 --> 00:01:27.200 in control. In the daily the MACD is green, and 28 00:01:27.239 --> 00:01:29.799 the RSI is moving away from the over soul zone 29 00:01:29.840 --> 00:01:32.239 and it still has room to run before it hits 30 00:01:32.239 --> 00:01:36.400 the overbought zone. So these are indicators that are leaning 31 00:01:36.439 --> 00:01:40.680 more towards a relief rally coming soon. And on the 32 00:01:40.680 --> 00:01:45.319 weekly chart, bitcoins RSI is also moving away, it's from 33 00:01:45.400 --> 00:01:48.200 the over sol zone. That's a positive sign. The MACD 34 00:01:48.359 --> 00:01:51.120 shows the bears are who are still in control, are 35 00:01:51.120 --> 00:01:54.280 losing momentum. And we got a green candle here on 36 00:01:54.319 --> 00:01:56.480 the weekly. Now we have to close the week, right, 37 00:01:56.560 --> 00:01:59.239 so I don't want to get too excited here again. 38 00:01:59.400 --> 00:02:02.959 Just we're seeing some positive signs the stock market. You know, 39 00:02:03.000 --> 00:02:05.920 we are seeing a green candle forming here, but still, 40 00:02:06.280 --> 00:02:08.240 you know, it's still looking kind of weak. So if 41 00:02:08.240 --> 00:02:11.120 the stock market were to dump, you know, crypto, and 42 00:02:11.159 --> 00:02:14.039 I think the other markets are gonna follow, but we're 43 00:02:14.080 --> 00:02:16.159 gonna have to be patient and see how this all 44 00:02:16.199 --> 00:02:19.560 plays out. There's obviously the Iran conflict going on, and 45 00:02:20.520 --> 00:02:22.919 you know, you never know what new stuff could come 46 00:02:23.000 --> 00:02:25.560 up and that could trigger markets to sell off. Now, 47 00:02:25.599 --> 00:02:28.400 today I did put out a write up in my newsletters, 48 00:02:28.400 --> 00:02:30.479 so make sure you subscribe. It's one hundred percent free, 49 00:02:30.479 --> 00:02:33.039 you guys. I shared both a bullish and a bear 50 00:02:33.159 --> 00:02:37.400 scenario using Elliott wave analysis, and with the bullish essentially 51 00:02:37.439 --> 00:02:39.639 saying that you know, we're gonna bottom out soon and 52 00:02:39.719 --> 00:02:43.479 start the fifth wave up to the two point sixty 53 00:02:43.479 --> 00:02:46.240 one eight Fibonacci, but that will be till next year, 54 00:02:46.680 --> 00:02:48.199 and that will put us in the one hundred and 55 00:02:48.280 --> 00:02:50.840 fifty thousand dollars range and maybe a little bit over that. 56 00:02:51.439 --> 00:02:54.879 The bear ish is maybe along the lines of what 57 00:02:54.919 --> 00:02:58.400 we're expecting, and that is we're bottoming it out soon. 58 00:02:58.520 --> 00:03:00.599 Then we have a relief rally, which would be a 59 00:03:00.680 --> 00:03:03.879 B wave up to about ninety K then we roll 60 00:03:03.919 --> 00:03:07.400 over to lower lows. So we'll see which scenario plays out. Folks. 61 00:03:07.439 --> 00:03:09.919 You know, no one has a crystal ball, and we're 62 00:03:09.919 --> 00:03:13.919 certainly at a crossroads on both the stock market and crypto. Obviously, 63 00:03:14.039 --> 00:03:16.680 long term, I'm bullish, guys. I believe we're going to 64 00:03:16.719 --> 00:03:19.840 continue to go higher. We've been talking about all the 65 00:03:19.879 --> 00:03:25.120 infrastructure being set up, the market structure legislation potentially passing 66 00:03:25.159 --> 00:03:27.240 this year and which could open up a lot of capital. 67 00:03:27.360 --> 00:03:31.120 So I'm expecting bigger bull runs and markets in the 68 00:03:31.120 --> 00:03:35.400 future right now obviously macro wise, with you know, I 69 00:03:35.439 --> 00:03:37.520 think we're in a recession. We get the war and 70 00:03:37.560 --> 00:03:41.719 all these things going on. Tariff situations right even though 71 00:03:41.719 --> 00:03:44.400 the Supreme Court rule that are illegal. How are they 72 00:03:44.439 --> 00:03:46.039 going to get that money back to people? Are we 73 00:03:46.039 --> 00:03:49.080 going to get a stimulus check? Who knows? So there's 74 00:03:49.159 --> 00:03:51.360 so many things up in the air. We're going to 75 00:03:51.439 --> 00:03:54.319 have to be patient here. I'm hoping that in the 76 00:03:54.360 --> 00:03:57.879 coming months we see a nice relief rally. That would 77 00:03:57.919 --> 00:03:59.759 be nice, and you take a little bit of profits 78 00:04:00.280 --> 00:04:04.080 to and then continue to buy and then prepare for 79 00:04:04.120 --> 00:04:07.439 the major run up I think starting in twenty twenty seven. 80 00:04:07.919 --> 00:04:09.840 So again, make sure you check out that newsletter. It 81 00:04:09.879 --> 00:04:14.199 includes a lot of helpful and useful charts and data points, 82 00:04:14.199 --> 00:04:16.040 so check it out. Link will be in the description 83 00:04:16.480 --> 00:04:19.439 now in addition to the small positive price action, we're 84 00:04:19.439 --> 00:04:23.839 seeing crypto funds rebound with one billion dollar inflows after 85 00:04:24.040 --> 00:04:27.079 five week slump, so this is a good sign people 86 00:04:27.120 --> 00:04:30.639 are buying the dips. Here so, crypto investment products recorded 87 00:04:30.680 --> 00:04:34.040 their first weekly inflow since January, snapping a five week 88 00:04:34.160 --> 00:04:38.560 outflow streak totaling roughly four billion dollars. Crypto exchange traded 89 00:04:38.600 --> 00:04:42.879 products known as ETPs attracted one billion dollar last week, 90 00:04:42.959 --> 00:04:45.839 led by eight hundred and eighty two million dollars into 91 00:04:45.879 --> 00:04:49.000 bitcoin funds, according to a Monday report from coin Shares. 92 00:04:49.319 --> 00:04:52.519 Here's a quote from a macro standpoint. It is difficult 93 00:04:52.560 --> 00:04:55.399 to attribute these shift in sentiment to a single catalyst, 94 00:04:55.639 --> 00:04:59.079 said James Butterfill, coin shares, head of research. He said 95 00:04:59.079 --> 00:05:03.399 the reversal likely reflected prior price weakness, a break below 96 00:05:03.519 --> 00:05:07.519 key technical levels, and renewed accumulation by large bitcoin holders. 97 00:05:07.839 --> 00:05:11.720 Here's a quote at a more anecdotal level. Recent client 98 00:05:11.800 --> 00:05:15.920 discussions have been mostly entirely focused on identifying entry points 99 00:05:16.000 --> 00:05:19.160 rather than reducing exposure to the acid class, so people 100 00:05:19.199 --> 00:05:21.560 are looking to buy the dips. And speaking of buying 101 00:05:21.560 --> 00:05:25.920 the dips, Michael Sailor Strategy purchased two hundred million dollars 102 00:05:26.000 --> 00:05:30.160 in bitcoin last week. The latest purchase, funded through common 103 00:05:30.240 --> 00:05:33.759 and preferred stock sales, lifted total holdings to seven hundred 104 00:05:33.800 --> 00:05:37.120 and twenty thousand, seven hundred and thirty seven coins valued 105 00:05:37.120 --> 00:05:41.040 at more than forty seven billion dollars now. Anthony Popliano's 106 00:05:41.079 --> 00:05:45.360 digital asset treasury company, Procap Financial, they bought four hundred 107 00:05:45.399 --> 00:05:49.079 and fifty bitcoin and the acquisition makes Procap the nineteenth 108 00:05:49.160 --> 00:05:53.399 largest publicly traded holder of bitcoin, while lowering the company's 109 00:05:53.480 --> 00:05:56.920 average cost basis per coin. So these digital acid treasury 110 00:05:56.959 --> 00:06:00.319 companies continue to buy, and not only them, the and 111 00:06:00.360 --> 00:06:02.800 Salana folks as well. You know, the big e theorem 112 00:06:02.800 --> 00:06:05.720 one is bitmind heading up by Tom Lee. So this 113 00:06:05.759 --> 00:06:07.480 is a good sign. You know, we don't want to 114 00:06:07.560 --> 00:06:10.680 just use this as our only indicator. We want to 115 00:06:10.720 --> 00:06:13.560 look at the charts, the on chain metrics, the macro 116 00:06:13.680 --> 00:06:16.600 and much more so. We want to make sure we're 117 00:06:16.639 --> 00:06:19.399 looking at a confluence of different factors right to form 118 00:06:19.439 --> 00:06:22.079 our thesis. But this is a good sign the CDs 119 00:06:22.120 --> 00:06:24.839 big players are buying. It could be an indication that 120 00:06:24.879 --> 00:06:28.279 we're nearing some sort of local bottom where we have 121 00:06:28.439 --> 00:06:30.839 that relief rally, right and then we roll over to 122 00:06:30.920 --> 00:06:33.839 lower lows or or you know, I give us a 123 00:06:33.879 --> 00:06:37.120 low probability it's the start of a major move to 124 00:06:37.160 --> 00:06:39.279 new all time highs. And again I give that like 125 00:06:39.279 --> 00:06:43.319 a one to two percent potential playing out. So we 126 00:06:43.439 --> 00:06:45.240 got to be patient. But nevertheless, you know, with the 127 00:06:45.279 --> 00:06:48.439 price is being so low, this is certainly an opportunity 128 00:06:48.480 --> 00:06:51.879 to buy. Obviously, not financial advice. Guys, do your own research, 129 00:06:52.000 --> 00:06:55.240 talk to our registered investment advisor. But I'm just saying, 130 00:06:55.439 --> 00:06:58.240 out of market principles, these are the times to buy 131 00:06:58.279 --> 00:07:01.120 when there's extreme fear, when the it's been oversold, when 132 00:07:01.120 --> 00:07:03.160 there's blood on the streets. As they would say, right 133 00:07:03.240 --> 00:07:07.120 as Warren Buffett would say, be fearful when others are greedy, 134 00:07:07.160 --> 00:07:09.839 and be greedy when others are fearful. So I'm gonna 135 00:07:09.839 --> 00:07:12.600 be looking to buy some all coins, not necessarily Bitcoin, 136 00:07:13.160 --> 00:07:16.439 because I think, you know, as far as Bitcoin's upside, 137 00:07:16.600 --> 00:07:18.439 I don't think it's going to be that great. I 138 00:07:18.439 --> 00:07:21.720 think the all coins usually outperform Bitcoin anyway. So I'm 139 00:07:21.720 --> 00:07:23.759 gonna look at some of the coins I've been telling 140 00:07:23.759 --> 00:07:26.639 you guys like uniswap, which black Rock is investing in, 141 00:07:27.360 --> 00:07:31.240 Layer zero, which Apollo is investing in and Citadel, which 142 00:07:31.279 --> 00:07:34.279 is investing in morpho. I believe I may have those 143 00:07:34.319 --> 00:07:36.560 two mixed up, but anyway, the point is those are 144 00:07:36.560 --> 00:07:40.160 the coins they're buying, and those are things I'm looking 145 00:07:40.199 --> 00:07:43.319 at and potentially grabbing up other tokens like maybe some 146 00:07:43.360 --> 00:07:47.000 Salon and XRP and things along those lines. Now, folks, 147 00:07:47.040 --> 00:07:49.800 a great place where you can buy these assets and 148 00:07:49.879 --> 00:07:53.279 also get huge tax benefits is on I Trust Capital. 149 00:07:53.560 --> 00:07:56.600 I Trust Capital offers you the ability to invest in 150 00:07:56.720 --> 00:07:59.399 crypto as well as precious metals like gold and silver 151 00:07:59.600 --> 00:08:02.600 via an IRA, so if you have a long term view, 152 00:08:02.639 --> 00:08:05.199 you can get huge tax advantages. You can buy sell 153 00:08:05.279 --> 00:08:08.959 crypto gold and silver twenty four to seven. It's low costs, 154 00:08:08.959 --> 00:08:11.839 there's no monthly fee, and folks, for the gold and silver, 155 00:08:12.000 --> 00:08:16.000 this is not paper gold or silvery, it's actual real metals, 156 00:08:16.279 --> 00:08:18.759 so you can redeem it if you want to redeem it. 157 00:08:18.839 --> 00:08:21.759 You can do that. So unlike you know, the tons 158 00:08:21.759 --> 00:08:23.680 of other platforms out there would just give you like 159 00:08:23.720 --> 00:08:27.279 the paper right, there's no actual you can't even claim it. 160 00:08:27.480 --> 00:08:30.639 So this is unique and you could redeem the actual asset. Now, 161 00:08:30.680 --> 00:08:33.480 when it comes to crypto, they have all the crypto 162 00:08:33.519 --> 00:08:36.039 assets you know, you go down the list Bigcoiny Theorem XRP, 163 00:08:36.200 --> 00:08:38.919 Solana and so on and so forth. So good amount 164 00:08:38.960 --> 00:08:41.679 of crypto assets. And if you have an existing four 165 00:08:41.759 --> 00:08:44.080 oh one k or ira, you can roll it over 166 00:08:44.399 --> 00:08:47.320 to I Trust Capital and I have an account with them. 167 00:08:47.440 --> 00:08:50.240 And as far as custody, they offer an account called 168 00:08:50.240 --> 00:08:54.639 a Premium custody account folks, so this is institutional grade custody. 169 00:08:54.960 --> 00:08:59.279 They use coin based prime fireblocks fidelity, which many institutions use. 170 00:08:59.320 --> 00:09:02.120 For example, black Back Rock uses coinbas Prime, so you 171 00:09:02.120 --> 00:09:04.960 can buy cell Crypto twenty four to seven. It's US based. 172 00:09:05.440 --> 00:09:07.759 It's a closed loop system so even if someone hacks 173 00:09:07.759 --> 00:09:10.919 into your account, they can't remove anything, folks. So it's 174 00:09:10.919 --> 00:09:13.279 low fees as well, so this is a great, great 175 00:09:13.320 --> 00:09:16.519 option folks. So you can get the tax benefits and 176 00:09:16.600 --> 00:09:19.519 have a safe way to custod your assets. That's using 177 00:09:19.600 --> 00:09:24.759 institutional bank tiered custodial level services. So if you'd like 178 00:09:24.799 --> 00:09:27.279 to learn more about I Trust Capital, visit the link 179 00:09:27.320 --> 00:09:29.799 in the description. If you use my link, guys, you 180 00:09:29.840 --> 00:09:33.720 can get one hundred dollars funding bonus, so check it 181 00:09:33.759 --> 00:09:36.639 out again. I have an account with them and it's 182 00:09:36.639 --> 00:09:39.399 a great option again, huge tax benefits and you have 183 00:09:39.480 --> 00:09:41.919 peace of mind with the custody option. So all the 184 00:09:41.960 --> 00:09:44.799 links would be in the description. Now you won't believe 185 00:09:44.799 --> 00:09:48.120 what bankster Jamie Diamond had to say today. He was 186 00:09:48.200 --> 00:09:52.320 interviewed on the CNBC and you know he's changed his 187 00:09:52.360 --> 00:09:55.519 tune on crypto now he's fighting with the other banks 188 00:09:55.559 --> 00:09:57.759 against stable coin yield. But let me give you some 189 00:09:57.960 --> 00:10:00.000 of the generic things he had to say about AI 190 00:10:00.200 --> 00:10:03.840 and crypto. So he said AI is real. Companies should 191 00:10:03.840 --> 00:10:07.240 deploy it. It could mean three to four day work weeks, 192 00:10:07.399 --> 00:10:11.720 but if adoption moves too fast, job losses could outpace retraining. 193 00:10:11.840 --> 00:10:16.360 Government should step in with income assistance plus training. But 194 00:10:16.559 --> 00:10:20.440 they're not prepared, he says. On crypto market structure, banks 195 00:10:20.639 --> 00:10:24.840 say rewards equals interests. If you pay on balances, you 196 00:10:24.879 --> 00:10:27.879 should be regulated like a bank. We've been firm. If 197 00:10:27.919 --> 00:10:29.759 you want to be a bank, become a bank, then 198 00:10:29.799 --> 00:10:34.159 you can do whatever you want. He also said banks 199 00:10:34.240 --> 00:10:37.559 want a level playing field with crypto firms. This is 200 00:10:37.600 --> 00:10:42.080 such bullshit from Jamie because Demand was criticizing crypto and 201 00:10:42.120 --> 00:10:45.279 blockchain technology for a long time, saying it's also the scam. 202 00:10:46.080 --> 00:10:48.759 We know his m going back to twenty seventeen, all 203 00:10:48.799 --> 00:10:51.720 the big statements he's made, but that was his tactic, 204 00:10:51.759 --> 00:10:54.360 smoke a mirror so he can go, buy low and out. 205 00:10:54.399 --> 00:10:56.679 You know, he doesn't like that you're taking your money 206 00:10:56.919 --> 00:10:59.080 and go and putting into an investment that he can't 207 00:10:59.120 --> 00:11:02.519 fully invest and as a bank right, he can't make money, 208 00:11:02.559 --> 00:11:04.799 he can't manipulate it like they've done with silver and 209 00:11:04.840 --> 00:11:07.360 other assets. In addition, we know that he and the 210 00:11:07.440 --> 00:11:10.919 banking folks were lobbying Elizabeth Warren and Gary Genser to 211 00:11:11.000 --> 00:11:13.840 attack the crypto industry. So it's funny now he's coming 212 00:11:13.879 --> 00:11:17.519 out level playing field with crypto firms get out of here. 213 00:11:17.559 --> 00:11:19.639 But guys, it's like we've talked about for a long time. 214 00:11:19.720 --> 00:11:21.919 First they ignore you, then they laugh at you, then 215 00:11:21.919 --> 00:11:24.519 they fight you, then you win. Now there's still a 216 00:11:24.519 --> 00:11:27.759 bit of fighting here, but crypto is clearly one and 217 00:11:27.799 --> 00:11:31.320 it's forcing Jamie to now change his tune, saying cryptos 218 00:11:31.639 --> 00:11:34.679 here to stay. Stable coins and blockchain are real, and 219 00:11:34.840 --> 00:11:37.720 JP Morgan has been launching its own stuff right, tokenizing 220 00:11:37.799 --> 00:11:43.000 assets using cryptos, collateral offering bitcoin and ETF trading to 221 00:11:43.080 --> 00:11:45.960 their wealthy clients and much more. We've seen all of 222 00:11:46.000 --> 00:11:49.039 Wall Street capitulate, right, So the fact that he's coming 223 00:11:49.039 --> 00:11:52.360 out and saying this is pathetic. But we know the deal, guys. 224 00:11:52.399 --> 00:11:54.000 We've been talking about it for a while. This is 225 00:11:54.039 --> 00:11:57.039 not about small community banks. Oh no, there's gonna be 226 00:11:57.039 --> 00:12:00.240 a bank run. People are gonna put all their money 227 00:12:00.360 --> 00:12:03.679 in stable coins, usually to people who use credit unions 228 00:12:03.720 --> 00:12:08.559 as well as community banks. They're not even like fully 229 00:12:08.679 --> 00:12:12.720 educated about crypto yet, right. They're usually folks who may 230 00:12:12.759 --> 00:12:14.960 not even use the banking app and so forth. Right, 231 00:12:15.000 --> 00:12:18.279 they use their community banks and all that. But this 232 00:12:18.440 --> 00:12:21.159 is about the bank bonuses. His bonus check at the 233 00:12:21.200 --> 00:12:23.279 end of the year, right, he doesn't want to give 234 00:12:23.320 --> 00:12:26.639 you more than zero points zero zero one percent. And 235 00:12:26.679 --> 00:12:30.000 I'm a Chase customer. I use Chase Bank, right, It's 236 00:12:30.000 --> 00:12:32.360 more convenient for me because it's closed by to me. 237 00:12:32.840 --> 00:12:36.399 But the point is in my savings, they give me 238 00:12:36.519 --> 00:12:38.919 zero points zero one one percent. But I get higher 239 00:12:38.960 --> 00:12:42.399 yield by using platforms like uphold end coinbase, where it 240 00:12:42.480 --> 00:12:45.240 parks some of my money in stable coins and I 241 00:12:45.279 --> 00:12:48.759 earned the rewards, plus I stake crypto because I'm getting 242 00:12:48.759 --> 00:12:51.159 next to nothing in my bank account. Yes, do I 243 00:12:51.200 --> 00:12:54.879 have tradi fy high yield accounts and things like that, 244 00:12:55.000 --> 00:12:57.039 Yes I have that. But the point is in a 245 00:12:57.159 --> 00:13:00.159 basic setup where I don't have to lock up my 246 00:13:00.240 --> 00:13:02.759 money forever and all these things, I can easily do 247 00:13:02.840 --> 00:13:05.600 that in crypto platforms, while at the banks they don't 248 00:13:05.600 --> 00:13:09.080 want to give you anything, right, So if they want 249 00:13:09.080 --> 00:13:11.600 to compete, the banks should launch their own stable coins 250 00:13:11.799 --> 00:13:14.679 and compete offer the same type of rewards. But of 251 00:13:14.720 --> 00:13:17.879 course that's going to cut into their bonus checks. You 252 00:13:17.879 --> 00:13:21.159 think Jamie wants a discount on his bonus checks and 253 00:13:21.200 --> 00:13:23.720 these other bank sea levels. Of course not. They don't 254 00:13:23.759 --> 00:13:26.759 want to give you anything, guys. This is what they're 255 00:13:26.879 --> 00:13:29.639 up to. So they're gonna use smoking mirrors and say, 256 00:13:29.639 --> 00:13:31.480 oh my god, it's going to cause a bank run. 257 00:13:31.759 --> 00:13:34.000 Oh my god, it's going to do this. Why don't 258 00:13:34.000 --> 00:13:37.399 you compete, guys, Why don't you raise the interest rates 259 00:13:37.399 --> 00:13:39.840 in your savings account and then people don't have to 260 00:13:39.840 --> 00:13:42.159 go to stable coins. There's no need because they're actually 261 00:13:42.159 --> 00:13:45.039 getting you're sharing the money with them. Or launch your 262 00:13:45.039 --> 00:13:48.120 own stable coins and offer the same type of rewards. 263 00:13:48.639 --> 00:13:52.279 But again, guys, it's about the money. Show me the money, right, 264 00:13:52.879 --> 00:13:57.679 so pathetic statements from Jamie Diamond as usual. Now Hunter Horseley, 265 00:13:57.799 --> 00:14:01.559 CEO bit Wise weigh in on these statements by Jamin. 266 00:14:01.639 --> 00:14:04.639 He says, a tale as old as time reminds me 267 00:14:04.720 --> 00:14:07.440 a lot of banks and money market fund managers coming 268 00:14:07.519 --> 00:14:11.559 into conflict in the nineteen seventies. So the banks always 269 00:14:11.559 --> 00:14:15.000 try to fight any emerging technology or things that will 270 00:14:15.039 --> 00:14:17.480 take money out of their pockets. And again this comes 271 00:14:17.519 --> 00:14:21.480 back to their checks, their bonuses, right all right, Moving 272 00:14:21.519 --> 00:14:25.200 ahead and speaking of banks, EU banks Europegged stable coin 273 00:14:25.360 --> 00:14:31.559 in talks with crypto exchanges to ensure liquidity. Wow, wow, 274 00:14:31.639 --> 00:14:36.600 this is incredible. Now they're tapping crypto exchanges for liquidity. 275 00:14:37.080 --> 00:14:40.799 That's amazing. So quickvalis a group of major EU banks 276 00:14:40.799 --> 00:14:44.279 developing a Europeg stable coin, is in advanced talks with 277 00:14:44.360 --> 00:14:48.000 crypto exchanges, market makers and liquidity providers to ensure the 278 00:14:48.080 --> 00:14:52.039 token is listed on regulated platforms and has strong liquidity 279 00:14:52.039 --> 00:14:54.679 from day one. The token will be backed one to 280 00:14:54.720 --> 00:14:57.480 one by a mix of bank deposits and high quality 281 00:14:57.559 --> 00:15:01.120 short term Euro Area sovereign bond and aims to offer 282 00:15:01.159 --> 00:15:05.399 a regulated European alternative to dollar stable coins. So obviously 283 00:15:05.440 --> 00:15:08.320 the EU wants to compete because they don't, they're going 284 00:15:08.399 --> 00:15:10.480 to be in trouble with the amount of dollar stable 285 00:15:10.519 --> 00:15:14.279 coins out there. And second, the banks liquid they need 286 00:15:14.320 --> 00:15:18.840 for liquidity crypto exchanges. So it's a group of twelve 287 00:15:19.120 --> 00:15:22.519 EU banks and they're developing that euro peg stable coin 288 00:15:22.919 --> 00:15:25.120 and they plant to debut in the second half of 289 00:15:25.120 --> 00:15:28.960 the year. But guys, the banks are coming to crypto 290 00:15:29.039 --> 00:15:35.000 exchanges for liquidity. Crypto is winning. I hope you see 291 00:15:35.000 --> 00:15:37.600 what's happening and how these banks have been forced to 292 00:15:37.639 --> 00:15:41.759 capitulate and we're going to see stable coins across the globe. 293 00:15:41.840 --> 00:15:44.399 Is the token economy. I've been telling you guys, beating 294 00:15:44.440 --> 00:15:47.480 the drum for years. The capital markets, the economies, and 295 00:15:47.519 --> 00:15:51.840 governments will all run on blockchain rails. And speaking of 296 00:15:51.879 --> 00:15:56.480 stable coins, Tether Anchorage tap Deloitte for the first us 297 00:15:56.559 --> 00:15:59.799 AT stable Coin Reserve report. So many of you know 298 00:16:00.080 --> 00:16:04.200 Tether launched us AT as a Genius Act compliance stable 299 00:16:04.240 --> 00:16:07.759 coin because their usd T stable coin, which is the 300 00:16:07.879 --> 00:16:10.639 largest in the world, is not compliant with the Genius Act. 301 00:16:10.919 --> 00:16:12.399 And I think they may do the same thing in 302 00:16:12.440 --> 00:16:15.679 the EU because us DT is not compliant with the 303 00:16:15.720 --> 00:16:21.440 MECA regulations. But they're tapping Deloitte to do their reserve report, 304 00:16:21.559 --> 00:16:25.679 so their attestations essentially, So this is pretty big. So 305 00:16:25.799 --> 00:16:30.159 Deloitte penned USAT's first attestation report on behalf of the 306 00:16:30.200 --> 00:16:34.240 issuer Anchorage Digital, the big four accounting firm began working 307 00:16:34.279 --> 00:16:37.440 for a circle in twenty twenty three. Tether signal last 308 00:16:37.519 --> 00:16:41.159 year that it's pursuing a full independent audit. So this 309 00:16:41.279 --> 00:16:43.519 is pretty big. And it's amazing to see these big 310 00:16:43.559 --> 00:16:47.799 four accounting firms like PwC and others and ey getting 311 00:16:47.840 --> 00:16:52.600 involved and with the crypto industry and providing the respective 312 00:16:52.679 --> 00:16:55.759 audit and verifications that we need. So this is really great. 313 00:16:56.000 --> 00:17:00.360 The reports showed that USAT's reserves were valued in excess 314 00:17:00.480 --> 00:17:04.480 of the stable coins circulating supply, totaling seventyeen point six 315 00:17:04.640 --> 00:17:08.759 million dollars and seventeen zero point five million dollars respectively 316 00:17:08.839 --> 00:17:12.000 as of January thirty. First that meanty token had a 317 00:17:12.039 --> 00:17:14.759 cushion of around one hundred thousand dollars a few days 318 00:17:14.799 --> 00:17:17.640 after its debut last month. Now, I hope to get 319 00:17:17.680 --> 00:17:20.000 bo Hines back on the podcast to talk a bit 320 00:17:20.039 --> 00:17:23.400 about this new stable coin. But this is pretty big 321 00:17:23.440 --> 00:17:25.960 for Tether, and let's see what type of you know, 322 00:17:26.000 --> 00:17:29.519 penetration they can make in the US market. Look, there 323 00:17:29.640 --> 00:17:33.279 is USDT being still used in the US market, but 324 00:17:33.720 --> 00:17:37.000 let's see what USAT does here. Okay, Now, in the 325 00:17:37.039 --> 00:17:39.079 same boat of stable coins, we get an update here 326 00:17:39.119 --> 00:17:44.480 on CBDC. So remember the anti CBDC ban bill, right, 327 00:17:45.039 --> 00:17:47.400 I had some folks on the PODT. I was talking 328 00:17:47.400 --> 00:17:50.240 to them about it, asking why didn't this get passed, 329 00:17:50.279 --> 00:17:52.000 right because it was supposed to be in the Defense 330 00:17:52.039 --> 00:17:54.720 spending bill but it didn't make it through. Well, here 331 00:17:54.920 --> 00:17:59.000 US Senate Housing Bill includes the CBDC ban. So the 332 00:17:59.039 --> 00:18:03.079 Senate Banking Committe these Bipartisan Road to Housing Act includes 333 00:18:03.079 --> 00:18:06.640 a provision banning the FED from issuing a CBDC before 334 00:18:06.759 --> 00:18:10.799 twenty thirty one. So this is good news. However, you know, 335 00:18:10.880 --> 00:18:15.440 I would hope that stable coins, you know, the same 336 00:18:15.839 --> 00:18:18.279 type of guardraels are put into place there, because look, 337 00:18:18.400 --> 00:18:22.039 one could argue stable coins are a co worked CBDC 338 00:18:22.200 --> 00:18:24.519 if the FED and the Treasury and all these folks 339 00:18:24.599 --> 00:18:28.240 can easily plug into these different companies. But you know, 340 00:18:28.279 --> 00:18:30.640 as long as there's a barrier where Okay, if you 341 00:18:30.680 --> 00:18:33.160 need to get information, you need to have a warrant, right, 342 00:18:33.440 --> 00:18:36.039 to abide by the constitution. So I'm going to try 343 00:18:36.039 --> 00:18:39.039 to get some experts on and people from DC to 344 00:18:39.119 --> 00:18:41.680 talk about it, to make sure stable coins are not 345 00:18:41.960 --> 00:18:44.880 you know, the trojan horse. While we're focused on the 346 00:18:44.920 --> 00:18:48.160 CBDC thinking oh that's banned, so we're good. But no, man, 347 00:18:48.200 --> 00:18:51.200 we need to see the laws on your rights are 348 00:18:51.240 --> 00:18:55.640 still respected and there's not this monitoring, this privacy and 349 00:18:55.680 --> 00:18:59.640 all these things. So stay tuned for those interviews. Okay, 350 00:18:59.720 --> 00:19:04.000 moving ahead, TED Securities sees New York Stock Exchange tokenization 351 00:19:04.240 --> 00:19:08.480 as institutional churning point. So we've heard and seen that 352 00:19:08.640 --> 00:19:11.079 many of the big stock exchanges are all looking to 353 00:19:11.119 --> 00:19:13.680 go twenty four to seven. They're all looking to tokenize. 354 00:19:13.680 --> 00:19:15.880 So again going back to the capital markets will all 355 00:19:16.000 --> 00:19:20.400 run on blockchain rails. So TED Securities, a major Canadian 356 00:19:20.440 --> 00:19:25.160 investment bank with operations across North America, says tokenization may 357 00:19:25.160 --> 00:19:28.079 be approaching an institutional churning point following the New York 358 00:19:28.079 --> 00:19:33.160 Stock Exchange's push into tokenized equities. In recent commentary, TD 359 00:19:33.319 --> 00:19:38.759 Securities Read Knock, vice president for Electronic Trading, said tokenization 360 00:19:38.920 --> 00:19:43.039 is beginning to carry real implications for market structure, pointing 361 00:19:43.079 --> 00:19:46.880 to the New York Stock Exchange proposed Tokenized Equity's alternative 362 00:19:46.920 --> 00:19:50.880 trading system as a key development. The planned platform would 363 00:19:51.000 --> 00:19:54.759 enable twenty four hour trading and near instant settlement of 364 00:19:54.880 --> 00:19:59.200 tokenized stocks and the exchange traded funds, subject to regulatory approval. 365 00:20:00.000 --> 00:20:03.839 They're in creating a parallel crypto native marketplace. The venue 366 00:20:03.880 --> 00:20:07.880 is designed to operate within existing US market rules while 367 00:20:07.960 --> 00:20:13.480 leveraging blockchain based settlement infrastructure. This is the power of blockchain, folks. 368 00:20:13.519 --> 00:20:17.000 And now you're seeing all a tradify looking to emulate 369 00:20:17.079 --> 00:20:20.720 crypto go twenty four to seven. Truly global markets, liquidity 370 00:20:20.759 --> 00:20:27.000 coming in from all around the world. And again capital markets, governments, 371 00:20:27.000 --> 00:20:29.640 and economies all running on blockchain rails. We are in 372 00:20:29.720 --> 00:20:32.160 the early innings with all of this being set up. 373 00:20:32.279 --> 00:20:37.680 Here's another example. Northern Trust enters tokenized treasuries fund market 374 00:20:37.759 --> 00:20:42.039 with new share class. So Northern Trust Asset Management has 375 00:20:42.119 --> 00:20:47.359 launched a tokenized share class of its NIF Treasury Instruments portfolio, 376 00:20:47.759 --> 00:20:51.079 marking its entry into the digital assets market. According to 377 00:20:51.079 --> 00:20:55.319 the company, the structure uses distributed ledger technology to maintain 378 00:20:55.480 --> 00:20:59.640 a digital mirror of share ownership, while the underlying portfolio 379 00:20:59.680 --> 00:21:03.519 continue needs to invest in short term US treasuries. According 380 00:21:03.519 --> 00:21:06.720 to Monday's announcement, the shares will initially be offered through 381 00:21:06.799 --> 00:21:11.279 B and Y Melons Liquidity Direct platform, which operates on 382 00:21:11.519 --> 00:21:16.359 Goldman Sachs Digital Asset Platform. Look at the names involved there, guys. 383 00:21:16.599 --> 00:21:20.160 The fund itself does not use blockchain technology or invests 384 00:21:20.240 --> 00:21:25.160 in crypto assets. Instead, authorized intermediaries are expected to maintain 385 00:21:25.200 --> 00:21:29.880 a blockchain based mirror of ownership records for clients. The 386 00:21:30.000 --> 00:21:34.480 NIF Treasury Instruments Portfolio invests in a diversified pool of 387 00:21:34.519 --> 00:21:38.279 short term US Treasury instruments and seeks to maintain a 388 00:21:38.440 --> 00:21:42.119 one dollar per share value, though it is not FDIC 389 00:21:42.440 --> 00:21:45.480 insured and may lose value. So you can see, we're 390 00:21:45.519 --> 00:21:47.960 still in the early innings. These things are being rolled out, 391 00:21:47.960 --> 00:21:51.880 but there are missing components like FDIC insurance and so forth. 392 00:21:51.960 --> 00:21:55.640 But we'll get there. We'll get there eventually. As crypto 393 00:21:55.759 --> 00:21:58.599 legislations pass, a lot of these things will be forced 394 00:21:58.640 --> 00:22:01.400 to be in line. Make sure they have the reserves, 395 00:22:01.720 --> 00:22:04.519 making sure they have insurance, and all the things that 396 00:22:04.559 --> 00:22:07.000 are needed. All the bells and whistles. Right now, here's 397 00:22:07.000 --> 00:22:09.640 some more tokenization news. And this is the final item. 398 00:22:09.960 --> 00:22:17.119 Bitfinex revives tokenized bonds targeting cryptonative yield seekers. So Bitfinex 399 00:22:17.200 --> 00:22:21.160 Security said on Monday it will resume issuing tokenized bonds 400 00:22:21.160 --> 00:22:27.240 for Luxemburg based securitization fund Alternative, with future sales expected 401 00:22:27.240 --> 00:22:32.000