1 00:00:05,080 --> 00:00:08,160 Speaker 1: Hey, folks, Welcome into the Thinking Crypto podcast, your home 2 00:00:08,320 --> 00:00:12,080 for cryptocurrency news and interviews. I'm your host, Tony Edward. 3 00:00:12,359 --> 00:00:14,759 On your way in. Please at that subscribe button as 4 00:00:14,759 --> 00:00:17,079 well as the thumbs up button and leave a comment below. 5 00:00:17,320 --> 00:00:19,879 If you're listening on a podcast platform such as Spotify 6 00:00:19,960 --> 00:00:22,160 or Apple, please be sure to follow and leave a 7 00:00:22,239 --> 00:00:25,960 five star rating. Okay, First up, the Claritiac yets huge 8 00:00:25,960 --> 00:00:30,239 support from Goldman Sachs CEO David Solomon. This is huge. 9 00:00:30,239 --> 00:00:35,079 Here's the headline, Goldman Sachs CEO bax Claritiac. Despite banking 10 00:00:35,159 --> 00:00:39,200 industry's concern over stable coin rules, The Goldman Sachs CEO 11 00:00:39,320 --> 00:00:41,799 said the Crypto Market Structure Bill would create a more 12 00:00:41,799 --> 00:00:45,920 stable regulatory framework, breaking with other major bank leaders who 13 00:00:46,000 --> 00:00:50,320 oppose key stable coin provisions. This is a massive endorsement 14 00:00:50,560 --> 00:00:53,439 because it goes against Jamie Diamond and all the rhetoric 15 00:00:53,560 --> 00:00:56,399 he's been putting out there. Plus the ABA, the American 16 00:00:56,439 --> 00:00:59,920 Bankers Association, who has been saying, oh, you know, credit 17 00:01:00,119 --> 00:01:02,759 unions and local banks are going to see deposit flight 18 00:01:02,840 --> 00:01:06,159 and much more, which is ridiculous, right, and remember this 19 00:01:06,319 --> 00:01:09,000 is now law. The Genius Actors lawn and they're trying 20 00:01:09,000 --> 00:01:13,120 to retroactively change the law. So there was already some 21 00:01:13,280 --> 00:01:17,200 provisions that were made of some Democrats and Republicans were 22 00:01:17,239 --> 00:01:20,799 able to find a compromise. But now the banks want more. Right, 23 00:01:20,840 --> 00:01:22,840 so they got a cookie, Now they're asking for a 24 00:01:22,840 --> 00:01:25,840 glass of milk. So it's all ridiculous. It's just they 25 00:01:25,879 --> 00:01:28,480 are getting disrupted. They didn't want to compete. It goes 26 00:01:28,519 --> 00:01:30,799 back to what we've been talking about. They keep the 27 00:01:30,879 --> 00:01:33,680 majority of the interest they're earning, parking your money at 28 00:01:33,680 --> 00:01:35,959 the FED, and they give you the breadcrumbs zero point 29 00:01:36,079 --> 00:01:38,680 zero one percent. So that's what this is about. Jamie 30 00:01:38,680 --> 00:01:40,680 Diamond wants to keep his big bonuses at the end 31 00:01:40,719 --> 00:01:43,799 of the year. But the CEO of Goldman Sacks going 32 00:01:43,840 --> 00:01:46,840 against that is very good because now it brings some 33 00:01:46,920 --> 00:01:49,439 balance to the conversations. So now if the likes of 34 00:01:49,519 --> 00:01:51,920 Jamie Diamond and some of his cronies start to bring 35 00:01:51,959 --> 00:01:55,640 this up, especially the Senators who he's been lobbying along 36 00:01:55,680 --> 00:01:58,120 with Elizabeth Warren, of course, then you have folks on 37 00:01:58,120 --> 00:01:59,920 the other side of the yard Man can say, hey, 38 00:02:00,040 --> 00:02:02,519 Goldman Sachs says this is good and it's important for 39 00:02:02,640 --> 00:02:05,560 regulating the crypto industry. Now here's a quote from an 40 00:02:05,599 --> 00:02:09,039 interview David Salman had with Politico. He says, the CLARITIAC, 41 00:02:09,240 --> 00:02:12,680 like all legislation, is not perfect, and there are lots 42 00:02:12,719 --> 00:02:15,800 of things that you could debate and argue about. But 43 00:02:15,919 --> 00:02:18,080 I think one of the most important things that it 44 00:02:18,199 --> 00:02:21,080 does is that it creates a level playing field to 45 00:02:21,199 --> 00:02:25,599 enhance market stability and allow these markets to develop appropriately. 46 00:02:26,280 --> 00:02:30,280 I'm very supportive of moving the CLARITIAC forward so we 47 00:02:30,319 --> 00:02:33,120 can get some market structure in place and start to 48 00:02:33,159 --> 00:02:38,639 move the innovation process along. Huge, huge statements here, folks, 49 00:02:38,800 --> 00:02:41,240 big vote of confidence. Now, I know some of you 50 00:02:41,240 --> 00:02:44,520 are thinking, why would this bank want to do that? Well, 51 00:02:44,840 --> 00:02:48,159 Goldman Sachs is not your traditional commercial bank. They're a 52 00:02:48,240 --> 00:02:50,560 major investment firms, so they want to build with the 53 00:02:50,599 --> 00:02:54,360 technology and offer crypto investment products and much more. They 54 00:02:54,400 --> 00:02:57,520 don't operate like JP Morgan. Right, we're dealing with consumers 55 00:02:57,560 --> 00:03:00,319 and so forth. But regardless, this again goes back to 56 00:03:00,400 --> 00:03:02,879 control Jamie Diamond and these guys don't want to give 57 00:03:02,960 --> 00:03:05,360 up the big bonuses and the power they've had. But 58 00:03:05,439 --> 00:03:08,560 disruptive technologies here and here's an example of some of 59 00:03:08,719 --> 00:03:13,759 Jamie's cronies. So apparently the United States Hispanic Chamber of 60 00:03:13,840 --> 00:03:18,960 Commerce says it represents millions of Hispanic owned businesses across 61 00:03:19,000 --> 00:03:21,879 the US sent a letter to the Senate leaders this 62 00:03:21,919 --> 00:03:25,400 week saying it shares community banks concerns that the CLARITIAC 63 00:03:25,439 --> 00:03:29,199 could accelerate deposit flight. The group argues the bill could 64 00:03:29,199 --> 00:03:33,199 reduce lending to Hispanic owned small businesses and weaken investment 65 00:03:33,240 --> 00:03:37,240 in underserved communities. This is such bs. Again, there's been 66 00:03:37,280 --> 00:03:40,159 a lot of studies that contradict this because the Genius 67 00:03:40,199 --> 00:03:42,919 Act is already lawed. The CLARITYAC is not what gives 68 00:03:42,919 --> 00:03:46,240 stable corneill or allows it. It's the Genius Act. Now 69 00:03:46,319 --> 00:03:48,680 they're saying, oh, if we don't fix it via clarity, 70 00:03:48,719 --> 00:03:50,800 but it's not. The CLARITIAC has nothing to do with 71 00:03:50,800 --> 00:03:52,840 stable corneill. It's just the banks are trying to bring 72 00:03:52,879 --> 00:03:56,240 this up to re litigate, right. But you see all 73 00:03:56,280 --> 00:03:58,479 these folks coming out, Oh, you're going to get depositive, Like, 74 00:03:58,680 --> 00:04:01,479 who the hell is just going to overnight start putting 75 00:04:01,479 --> 00:04:05,520 all their money in stable coins. That's not realistic. Even myself, 76 00:04:05,599 --> 00:04:08,680 as a native crypto user, I've been here since twenty sixteen. 77 00:04:09,080 --> 00:04:11,800 I have some of my money in stable coins earning yield, 78 00:04:12,439 --> 00:04:15,319 but the majority of my money to pay my everyday 79 00:04:15,360 --> 00:04:18,519 bills and my mortgage in much more. It's in the bank, 80 00:04:18,720 --> 00:04:22,240 right So this is really ridiculous. And if you think 81 00:04:22,240 --> 00:04:25,920 about demographics, people who are using local community banks and 82 00:04:25,959 --> 00:04:29,000 federal credit unions, they're not going to be big crypto 83 00:04:29,040 --> 00:04:32,079 adopters right now. Maybe over time as they become educated, 84 00:04:32,240 --> 00:04:35,439 they're not going to be rushing to coinbase or whatever platform. 85 00:04:35,519 --> 00:04:37,279 Let me go get a whole bunch of stable coins 86 00:04:37,560 --> 00:04:40,720 and come on, it's ridiculous. So again, this goes back 87 00:04:40,759 --> 00:04:43,079 to these guys don't want to lose the power they've 88 00:04:43,079 --> 00:04:46,079 had for a long time, and they don't want to 89 00:04:46,120 --> 00:04:50,959 offer consumers competitive yield or interest payments on their money, 90 00:04:51,120 --> 00:04:54,439 so they're fighting tooth and nail. But nevertheless, guys, the 91 00:04:54,519 --> 00:04:58,600 sausage making process continues for the Claritiac and there is 92 00:04:58,639 --> 00:05:01,759 going to be a vote next week. Nothing happened this 93 00:05:01,879 --> 00:05:05,439 week here. Anthony Scaramucci gave a quick rundown. I'm not 94 00:05:05,439 --> 00:05:07,519 going to read through everything because it's very, very long, 95 00:05:07,759 --> 00:05:10,800 but he says the Claritiac update not passing as per 96 00:05:10,839 --> 00:05:15,639 this week Thursday, July twenty third, based on publicly available 97 00:05:15,680 --> 00:05:20,000 intel Republicans fifty one yes to no. Democrats two yes, 98 00:05:20,160 --> 00:05:23,560 forty five no. The required number of votes is sixty 99 00:05:24,000 --> 00:05:27,240 and he gives a full breakdown of the respective Democrats 100 00:05:27,399 --> 00:05:31,079 and Republicans who may be no versus yes, and much more. 101 00:05:31,120 --> 00:05:34,639 But it's a very long list to share, so you 102 00:05:34,680 --> 00:05:36,399 guys can probably see it on the screen, or you 103 00:05:36,399 --> 00:05:39,680 can go to Anthony Scaramucci's X account where he posted this. 104 00:05:39,839 --> 00:05:43,079 So again, negotiations are still ongoing on ethics and of 105 00:05:43,120 --> 00:05:46,839 course some of the banking concerns. And here Elizabeth Warren, 106 00:05:47,040 --> 00:05:50,759 she's putting out her propaganda. She put out a video 107 00:05:51,000 --> 00:05:53,959 on X, you know, stating this bill will help Donald 108 00:05:54,040 --> 00:05:57,199 Trump's corruption to make more money. She knows it's not 109 00:05:57,319 --> 00:06:00,000 about that, but she's trying to paint a picture dizzy. 110 00:06:00,120 --> 00:06:02,720 Bill is just for Donald Trump. It's just so he 111 00:06:02,720 --> 00:06:05,519 could make another one point four billion. Now, I've been 112 00:06:05,519 --> 00:06:07,480 on record, I don't like that Donald Trump had a 113 00:06:07,519 --> 00:06:09,720 meme coin it much more. But this bill is bigger 114 00:06:09,759 --> 00:06:12,680 than Donald Trump. This is about the United States being 115 00:06:12,720 --> 00:06:15,240 the leader in the technology, being able to create jobs 116 00:06:15,279 --> 00:06:18,639 for people, and much more. But Elizabeth Warren, she's a liar. 117 00:06:18,920 --> 00:06:21,319 She's being paid off by Jamie Diamond and the banks. 118 00:06:21,639 --> 00:06:24,360 We know her moo. It goes back to the Biden 119 00:06:24,439 --> 00:06:28,360 administration when she and Gary Ginster were attacking the crypto industry, 120 00:06:28,439 --> 00:06:32,480 unlawful in many ways. They're ultimately lost, right, we know 121 00:06:32,560 --> 00:06:35,079 how that all panned out. But she's still trying. She's 122 00:06:35,079 --> 00:06:37,720 still getting those checks from the banks, so she's still 123 00:06:37,800 --> 00:06:40,800 doing the bidding of Jamie Diamond and the banksters, and 124 00:06:40,879 --> 00:06:43,600 she's going to put out her propaganda. But you know, 125 00:06:43,639 --> 00:06:45,120 I think a lot of people are seeing through it. 126 00:06:45,199 --> 00:06:47,839 It is total bs because you have many Democrats who 127 00:06:47,839 --> 00:06:50,920 have common sense like Angelo, also Brooks and others who 128 00:06:50,920 --> 00:06:53,519 helped pass the bill through the Senate Banking Committee, and 129 00:06:53,800 --> 00:06:56,439 they're going through the negotiations with the ethics, but they 130 00:06:56,519 --> 00:06:59,079 want to get the bill passed. Unlike Elizabeth Warren. She 131 00:06:59,120 --> 00:07:02,680 doesn't want it to pass at all. But again, she's 132 00:07:02,759 --> 00:07:06,879 a bankster puppet, so what can you expect. And speaking 133 00:07:06,920 --> 00:07:10,560 of stable coins and banks, Tassot wants to help smaller 134 00:07:10,560 --> 00:07:14,439 banks to tap the trillion dollars stable coin boom before 135 00:07:14,480 --> 00:07:17,959 Wall Street locked them out. So this is great innovate 136 00:07:18,079 --> 00:07:21,360 if you want to compete, innovate. But again, the banksters 137 00:07:21,360 --> 00:07:24,399 don't want to give up their big bonuses. But great 138 00:07:24,399 --> 00:07:26,680 to see that companies like these are looking to cater 139 00:07:27,120 --> 00:07:31,079 to the smaller banks. So Tassot, the fintech firm behind 140 00:07:31,199 --> 00:07:35,519 Signature Banks former Signet Blockchain Payments Network, is building a 141 00:07:35,560 --> 00:07:39,600 stable coin reserve management platform aimed at helping regional and 142 00:07:39,680 --> 00:07:43,160 midsize US banks compete for stable coin reserves as the 143 00:07:43,399 --> 00:07:47,480 sector is projected to grow into a multimillion dollar market. 144 00:07:47,839 --> 00:07:53,879 The company unveiled Project Nenya n NYA, otherwise referred to 145 00:07:54,079 --> 00:07:58,360 as its Smart Reserve Management and Execution Engine, on Thursday, 146 00:07:58,439 --> 00:08:02,240 alongside a white paper out lining the initiative. Tasot said 147 00:08:02,360 --> 00:08:06,040 it expects the platform to launch in early twenty twenty seven, 148 00:08:06,160 --> 00:08:09,560 after pilot programs begin in the first half of the year. 149 00:08:10,040 --> 00:08:13,759 The project targets smaller banks that often lack the technology, 150 00:08:13,759 --> 00:08:18,199 compliance and infrastructure and staff needed to service stable coin issues. 151 00:08:18,639 --> 00:08:20,720 This is how the free market is supports to operate, 152 00:08:21,160 --> 00:08:23,680 develop the technology, work with a company that can help 153 00:08:23,720 --> 00:08:26,319 you make you competitive. And I'm speaking of the banks, 154 00:08:26,399 --> 00:08:29,000 right they should take action instead of wining and complaining. 155 00:08:29,040 --> 00:08:32,799 And trying to stop innovative technology. But I've often said, guys, 156 00:08:32,840 --> 00:08:36,799 innovative technology always wins, and these banks need to get 157 00:08:36,799 --> 00:08:40,440 on board, launch their own stable coins, compete, offer competitive 158 00:08:40,559 --> 00:08:43,200 rates on interest payments or yield, and then you don't 159 00:08:43,200 --> 00:08:45,759 have to worry about consumers going to try to get 160 00:08:45,799 --> 00:08:49,600 more on their money. Right, imagine that the concept of 161 00:08:49,960 --> 00:08:54,039 giving more to the consumers and your clients. Now, speaking 162 00:08:54,080 --> 00:08:56,480 of stable coins, we got some updates here from Ripples. 163 00:08:56,519 --> 00:09:00,039 So Ripple they posted today saying meet Ripple Mint and 164 00:09:00,399 --> 00:09:04,600 a unified platform for institutions to access mint, redeem, and 165 00:09:04,639 --> 00:09:07,919 manage r LUSD. So that's Ripple stable coin, which is 166 00:09:07,919 --> 00:09:10,600 on the XRP ledger as well as e theorem. They said, 167 00:09:10,679 --> 00:09:14,440 built for scale with both UI and API access, Ripple 168 00:09:14,480 --> 00:09:19,080 Mint gives institutions the flexibility to automate stable coin operations, 169 00:09:19,240 --> 00:09:23,600 integrate our LUSD into existing systems, and manage digital dollar 170 00:09:23,679 --> 00:09:28,639 liquidity across chains. Available to existing r LUSD users today. 171 00:09:29,240 --> 00:09:33,159 So big update there, and Jack McDonald of Ripple also 172 00:09:33,240 --> 00:09:38,240 highlighted that Ripple has made a strategic investment in NODA 173 00:09:38,279 --> 00:09:41,240 being if I'm saying that right, Noaban is the trust 174 00:09:41,320 --> 00:09:45,399 layer for global crypto money movement, powering the largest travel 175 00:09:45,480 --> 00:09:50,320 rule compliant transaction authorization network. So he says, here bringing 176 00:09:50,399 --> 00:09:55,600 together our LUSD, Ripple Payments and noaban's trusted institutional network 177 00:09:55,639 --> 00:09:59,960 to help scale compliance stable coin payments, he says, IDENTI 178 00:10:00,120 --> 00:10:05,759 they compliance transaction authorization enterprise ready stable coin infrastructure. This 179 00:10:05,799 --> 00:10:09,000 is how we help financial institutions move value globally with 180 00:10:09,279 --> 00:10:14,519 trust built in. So Ripple continues to make incredible moves 181 00:10:14,759 --> 00:10:18,600 and build their network of clients and customers and partners. 182 00:10:18,919 --> 00:10:22,039 So this is all great Obviously, As as mentioned before, r 183 00:10:22,159 --> 00:10:24,799 l USD stable coin is built on the XRP Ledger 184 00:10:25,080 --> 00:10:28,320 as well as the Etherorem, so it is core at 185 00:10:28,360 --> 00:10:30,519 its core, it's built on the XRP Ledger, But in 186 00:10:30,600 --> 00:10:32,679 order to have network effects you need to have your 187 00:10:32,720 --> 00:10:35,399 stable coin built on other blockchains. But you can have 188 00:10:35,440 --> 00:10:38,600 that core home base blockchain, which of course is the 189 00:10:38,720 --> 00:10:41,279 XRP Ledger. Now a great place you can invest in 190 00:10:41,320 --> 00:10:45,240 the XRP Ledger, Etherorem, Bitcoin and all the major crypto 191 00:10:45,559 --> 00:10:48,960 assets is on I Trust Capital. You can also invest 192 00:10:49,039 --> 00:10:51,919 in gold and silver, but you're doing it via an 193 00:10:51,960 --> 00:10:54,440 IRA And you may say, Tony, why would I want 194 00:10:54,440 --> 00:10:57,240 to do that, well, you get huge tax advantages, so 195 00:10:57,279 --> 00:10:59,120 when you sell for a game, you don't have to 196 00:10:59,159 --> 00:11:02,759 play law term or short term capital gains taxes. So 197 00:11:02,840 --> 00:11:06,039 this is a huge, huge advantage and something you need 198 00:11:06,080 --> 00:11:07,879 to think about, especially if you have a long term 199 00:11:07,919 --> 00:11:10,600 be on these assets. Park it in the IRA and 200 00:11:10,679 --> 00:11:13,840 shelter it from the taxes. And you can buy both crypto, gold, 201 00:11:13,879 --> 00:11:16,960 and silver twenty four to seven. With regards to crypto, 202 00:11:17,039 --> 00:11:20,879 it's over ninety crypto assets, including stable coins. You can 203 00:11:20,879 --> 00:11:23,679 also steak on this platform. And with gold, it's not 204 00:11:23,759 --> 00:11:26,480 paper gold or silver, it's the physical assets. If you 205 00:11:26,559 --> 00:11:28,480 ever want to redeem the assets, you can do so, 206 00:11:28,919 --> 00:11:30,600 and if you have an existing four oh one K 207 00:11:30,879 --> 00:11:33,080 or IRA, you can simply roll it over to I 208 00:11:33,200 --> 00:11:36,360 Trust Capital's version, so it's low cost, no monthly fee. 209 00:11:36,559 --> 00:11:40,320 They also have a great custody solution called Premium Custody Account. 210 00:11:40,480 --> 00:11:43,279 It's institutional grade to use this coin based prime which 211 00:11:43,279 --> 00:11:46,240 black Rock uses, and it's a closed loop system so 212 00:11:46,279 --> 00:11:48,879 if someone hacks into your account, they can't withdraw any funds. 213 00:11:48,879 --> 00:11:51,159 It's only set up to go to your bank account. 214 00:11:51,679 --> 00:11:53,159 You can go in and out of it. Twenty four 215 00:11:53,159 --> 00:11:55,360 to seven. It's low fees as well, so you've got 216 00:11:55,399 --> 00:11:57,559 to check out I trust Capital see if it's for you. 217 00:11:57,639 --> 00:12:01,320 It's a great, great option and a great strategy again 218 00:12:01,399 --> 00:12:04,559 for reducing your tax implications. And guys, if you sign 219 00:12:04,600 --> 00:12:06,480 up with my link, you can get one hundred dollars 220 00:12:06,480 --> 00:12:09,759 funding bonus. So going to I truscapital dot com, slash go, 221 00:12:09,879 --> 00:12:13,039 slash thinking Crypto. I also put in the description a 222 00:12:13,200 --> 00:12:15,919 representative from I trust Capital that you can reach out to. 223 00:12:15,960 --> 00:12:18,159 His name is Ryan, and if you have any questions 224 00:12:18,279 --> 00:12:20,159 you can talk to him, you know, during the sign 225 00:12:20,240 --> 00:12:22,679 up process. So all the links and details will be 226 00:12:22,840 --> 00:12:27,240 in the description. Okay, moving ahead, the SEC sets September 227 00:12:27,480 --> 00:12:31,679 talks on move toward twenty four hour stock trading. So 228 00:12:31,759 --> 00:12:35,159 the Nasdaq, CBOE and London Stock Exchange are among the 229 00:12:35,200 --> 00:12:38,840 major exchanges moving toward longer trading hours. So we've been 230 00:12:38,879 --> 00:12:41,639 talking a lot about this, right guys. So all these 231 00:12:41,639 --> 00:12:44,519 folks are looking to go twenty four to seven because 232 00:12:44,519 --> 00:12:47,840 that will allow for faster settlement, movement of assets, more liquidity, 233 00:12:47,919 --> 00:12:51,720 more distribution of the assets, many benefits, right guys. So 234 00:12:52,000 --> 00:12:54,399 the SEC of course has to make sure this is 235 00:12:54,440 --> 00:12:57,039 done right because it involves tokenization and a lot of 236 00:12:57,080 --> 00:13:00,000 assets going on chain. So the US Securities in Exchange 237 00:13:00,200 --> 00:13:03,000 Commission is set to host a public roundtable in September 238 00:13:03,039 --> 00:13:06,720 to discuss moving toward twenty four hour trading in US 239 00:13:06,799 --> 00:13:09,639 equity markets. Here's a quote. We are moving towards a 240 00:13:09,679 --> 00:13:12,840 new day and night in the US equity markets. SEC 241 00:13:12,919 --> 00:13:15,879 Chair Paul Adkins said on Thursday. With the expansion to 242 00:13:15,960 --> 00:13:19,639 overnight trading, I'm excited at the prospect of US equity 243 00:13:19,679 --> 00:13:24,039 markets aligning with those markets that already trade continuously. The 244 00:13:24,159 --> 00:13:28,480 roundtable will run on September seventeenth at the SEC's headquarters 245 00:13:28,480 --> 00:13:33,360 in Washington, DC. Discussions will include preparations to support overnight 246 00:13:33,399 --> 00:13:37,720 trading operations and resiliency in a twenty four hour market 247 00:13:37,840 --> 00:13:43,679 regulator set. So obviously the vision makes sense the technologies here, 248 00:13:43,720 --> 00:13:45,879 but you've got to make sure it's executed right or 249 00:13:45,879 --> 00:13:48,840 we could have a lot of problems right. So the 250 00:13:48,919 --> 00:13:52,120 SEC and all the respective regulatory agencies need to be 251 00:13:52,120 --> 00:13:55,799 involved because one of the initial problems you could see 252 00:13:56,120 --> 00:13:59,600 is that if there's laggards to adopt the technology and 253 00:13:59,639 --> 00:14:03,639 to do to tokenize assets, you're gonna have two markets. 254 00:14:03,960 --> 00:14:05,840 And you know, there's going to be a phase where 255 00:14:05,960 --> 00:14:09,720 eventually everybody catches up. But in that implementation phase, if 256 00:14:09,720 --> 00:14:14,120 you have two separate markets, you could have prices, crepency, liquidity, discrepancy. 257 00:14:14,840 --> 00:14:17,080 Certainly people are going to look to do the arbitrage 258 00:14:17,120 --> 00:14:19,440 trade on it. So you got to make sure it's 259 00:14:19,480 --> 00:14:22,000 done well or you can really really have problems. So 260 00:14:22,960 --> 00:14:25,080 I'm really happy to see that the SEC is doing 261 00:14:25,080 --> 00:14:28,159 this and it's definitely the right move. Now, speaking of 262 00:14:28,159 --> 00:14:32,360 the SEC, the SEC settles with coinbase over its missing 263 00:14:32,440 --> 00:14:37,080 Gary Ginser texts. Now, we know Gary Ginser and under 264 00:14:37,080 --> 00:14:40,799 his tenure did a lot of unlawful things. Remember he 265 00:14:40,879 --> 00:14:43,840 got called arbitrary and capricious the agency and all the 266 00:14:43,879 --> 00:14:49,879 things they did, Judges scolding them. I mean it was unbelievable, right, 267 00:14:50,320 --> 00:14:54,799 a black stain on the SEC's record. So a new 268 00:14:54,879 --> 00:14:58,320 court status reports reveals the agency will pay a flat 269 00:14:58,360 --> 00:15:00,759 fee to resolve a a two year fight over what 270 00:15:01,360 --> 00:15:06,440 former chair Gary Genser knew about ethereum. So this goes 271 00:15:06,480 --> 00:15:09,000 back to the Ripple case and much more so. They 272 00:15:09,000 --> 00:15:12,360 agreed to pay one hundred and fifty thousand dollars to 273 00:15:12,440 --> 00:15:17,720 settle a four yeer lawsuit over their investigations. According to 274 00:15:17,799 --> 00:15:22,200 a joint status report file in July twenty second, so 275 00:15:22,240 --> 00:15:25,120 I believe Coinbase they were heading up this lawsuit. So 276 00:15:25,240 --> 00:15:29,000 History Associates Incorporated in the SEC asked the US District 277 00:15:29,000 --> 00:15:31,559 Court for the District of Columbia to dismiss the case 278 00:15:32,039 --> 00:15:35,559 after reaching a settlement a deal. Under the agreement, the 279 00:15:35,600 --> 00:15:39,159 agency will produce the remaining responsive documents and pay the 280 00:15:39,200 --> 00:15:43,000 flat fee to cover the plainetemp's legal fees. History Associates, 281 00:15:43,240 --> 00:15:48,519 which provides professional historical research, writing, and archival services to 282 00:15:48,559 --> 00:15:51,799 government agencies, filed a lawsuit in June twenty twenty four, 283 00:15:51,960 --> 00:15:54,919 working on behalf of Coinbase. The firm had submitted three 284 00:15:54,960 --> 00:15:59,320 public records requests the year before. Those filings saw documents 285 00:15:59,320 --> 00:16:04,440 on SEC and investigations into Zachary Coburn and Enigma NPC, 286 00:16:04,960 --> 00:16:08,200 along with records on how Etherorem shifted to a proof 287 00:16:08,200 --> 00:16:11,480 of steak system. The lawsuit compelled the SEC to hand 288 00:16:11,519 --> 00:16:15,279 over thousands of documents, with the court explicitly ordering the 289 00:16:15,480 --> 00:16:19,440 agency to prioritize all records and communications sent, received, or 290 00:16:19,480 --> 00:16:23,879 evaluated by then SEC Chair Gary Genser concerning Etherorem's migration 291 00:16:24,039 --> 00:16:26,559 from a proof of work blockchain to a proof of 292 00:16:26,639 --> 00:16:30,360 steak network. Now, the agency said that Gary Ginser deleted 293 00:16:30,399 --> 00:16:32,320 some of the text messages and much more. So let's 294 00:16:32,320 --> 00:16:35,879 see what we get. I don't know. Some of the 295 00:16:35,559 --> 00:16:39,360 phones apparently were wiped, so this is a mess. But 296 00:16:39,440 --> 00:16:41,919 we know what Gary Ginster was up to. I don't 297 00:16:41,960 --> 00:16:46,080 think there's any question of unlawful activities and an agenda, 298 00:16:46,600 --> 00:16:49,240 you know, with his marching orders coming down from Elizabeth 299 00:16:49,279 --> 00:16:51,879 Warren and the banks and so forth to attack the industry. 300 00:16:52,600 --> 00:16:56,840 All right, Moving ahead, UNISWAP pushes deeper into tokenized assets 301 00:16:56,879 --> 00:17:02,360 with permissioned trading pools. SOAP, the largest decentralized exchange, if 302 00:17:02,399 --> 00:17:05,400 I'm not mistaken, continues to innovate. And if you recall 303 00:17:05,480 --> 00:17:08,720 black Rock, they bought the UNISWAP token months ago. Many 304 00:17:08,720 --> 00:17:11,599 of you may recall that report. So the framework developed 305 00:17:11,640 --> 00:17:16,160 with superstates, securitized and dowgo lets, regulated funds and securities 306 00:17:16,240 --> 00:17:20,640 trade on unisop while enforcing compliance rules necessary for institutions. 307 00:17:20,880 --> 00:17:24,839 So institutions want to get involved in DeFi, and of 308 00:17:24,880 --> 00:17:28,400 course tokenized assets will be involved in DeFi because just 309 00:17:28,440 --> 00:17:31,880 imagine you're holding a tokenized version of SpaceX or Tesla 310 00:17:31,960 --> 00:17:34,279 or Apple. You can put that asset to work, right, 311 00:17:34,319 --> 00:17:38,039 you can borrow, lend in all those things. So it's 312 00:17:38,039 --> 00:17:41,880 great to see that on a decentralized perspective, this is happening. 313 00:17:42,240 --> 00:17:46,480 So the decentralized exchanges developer UNISWAP Labs is rolling out 314 00:17:46,519 --> 00:17:50,359 permission pools on Thursday, a piece of infrastructure that allows 315 00:17:50,440 --> 00:17:54,799 issuers of tokenized funds, equities, and other regulated assets to 316 00:17:54,880 --> 00:17:59,319 restrict trading to approve investors while using the protocols automated 317 00:17:59,400 --> 00:18:03,799 market make that gives issuers a flexible way to enforce 318 00:18:03,839 --> 00:18:08,720 their own compliance rules without building separate trading infrastructure. Ken Nng, 319 00:18:09,039 --> 00:18:14,759 the head of ecosystem at Uniswap's told Coindesk so institutions 320 00:18:14,799 --> 00:18:17,839 again want DeFi and they're going to put tokenized assets 321 00:18:17,839 --> 00:18:21,160 in there. So the infrastructure being set up for the 322 00:18:21,279 --> 00:18:25,519 massive adoption of this technology, folks. Final news item here 323 00:18:25,640 --> 00:18:30,359 out of Kazakhstan. So Kazakhstan approves the implementation of strategic 324 00:18:30,480 --> 00:18:35,519 Digital Asset mining and a national reserve. So across the globe, 325 00:18:35,680 --> 00:18:40,200 we are seeing many countries and jurisdictions move toward implementing, 326 00:18:40,440 --> 00:18:44,279 adopting regulating crypto assets. No One is banning it anymore. 327 00:18:44,799 --> 00:18:46,960 That was back in the day. Now they would be 328 00:18:47,000 --> 00:18:49,519 idiots if they did that. The plan is for the 329 00:18:49,559 --> 00:18:52,400 capital markets, the governments, and the economies to all run 330 00:18:52,440 --> 00:18:55,279 on blockchain rails. Folks. That's the news. Let me know 331 00:18:55,319 --> 00:18:57,319 what you think. Leave your thoughts and comments below, hit 332 00:18:57,359 --> 00:19:00,160 the thumbsup button. Subscribe if you haven't as yet, be 333 00:19:00,200 --> 00:19:03,240 sure to subscribe to my free email newsletter. It's one 334 00:19:03,319 --> 00:19:06,559 hundred percent free on Substack. Check out my book on Amazon. 335 00:19:06,680 --> 00:19:08,799 Be sure to grab a copy. It's available in paperback 336 00:19:08,799 --> 00:19:12,599 in digital. And check out my course at mycryptocurse dot com. 337 00:19:12,599 --> 00:19:15,079 This is a comprehensive course that teaches you everything you 338 00:19:15,079 --> 00:19:17,160 need to know about crypto. Right now, we've got a 339 00:19:17,200 --> 00:19:20,119 huge bear market sale going on. Get fifty percent off 340 00:19:20,480 --> 00:19:23,000 the price of the course by using the code Bayer 341 00:19:23,200 --> 00:19:27,039 b e a R at checkout. So go take a look, folks, 342 00:19:27,240 --> 00:19:30,599 and if you want to expand your knowledge, knowledge is power. Folks. 343 00:19:30,599 --> 00:19:32,880 Thank you so much for tuning in. I appreciate you all, 344 00:19:33,039 --> 00:19:34,759 and I'll talk to you all later.