WEBVTT 1 00:00:00.200 --> 00:00:04.360 The SEC drops more cases, dropping their case against consensus. 2 00:00:04.400 --> 00:00:08.160 Could they drop the case against Kraken and Ripple tomorrow 3 00:00:08.320 --> 00:00:10.800 or put a pause on the Ripple case. I'll give 4 00:00:10.839 --> 00:00:13.759 it the details there. And the SEC also ruled on 5 00:00:13.919 --> 00:00:17.920 meme coins, saying they're not securities, but watch out for fraud. 6 00:00:18.280 --> 00:00:22.000 And a congressman introduces a bill to regulate meme coins. 7 00:00:22.160 --> 00:00:29.399 I'll give you the details there. Let's get into it. Hey, everybody, 8 00:00:29.440 --> 00:00:32.920 welcome into the Thinking Crypto podcast, your home for cryptocurrency 9 00:00:32.960 --> 00:00:35.840 news and interviews. I'm your host, Tony Edward. On your 10 00:00:35.880 --> 00:00:38.240 way in, please sit that subscribe button as well as 11 00:00:38.240 --> 00:00:40.640 the thumbs up button and leave a common blow. If 12 00:00:40.640 --> 00:00:43.679 you're listening on a podcast platform such as Spotify or Apple, 13 00:00:43.920 --> 00:00:45.880 please leave a five star reading and review. 14 00:00:46.320 --> 00:00:46.679 Folks. 15 00:00:46.799 --> 00:00:51.320 Bitcoin continues its downward move, currently sitting below eighty two 16 00:00:51.359 --> 00:00:56.240 thousand dollars, but it is in the extreme oversouled zone. 17 00:00:56.479 --> 00:00:58.799 So that's a good sign, meaning that we could see 18 00:00:58.799 --> 00:01:01.159 some sort of reversal soon. Now, don't get me wrong, 19 00:01:01.280 --> 00:01:04.159 it could chop in this area for maybe a few 20 00:01:04.200 --> 00:01:06.799 days or even into next week. But what we've seen 21 00:01:06.920 --> 00:01:10.400 historically is when bitcoin is in this over soul zone. 22 00:01:10.519 --> 00:01:13.920 This selling pressure pretty much ends, right, but doesn't mean 23 00:01:13.920 --> 00:01:17.439 we can't move sideways. But this essentially there's less downward pressure, 24 00:01:17.519 --> 00:01:21.640 so that's a good sign. Let's hope bitcoin can rally 25 00:01:21.680 --> 00:01:25.159 a bit soon and start moving out of this hole 26 00:01:25.239 --> 00:01:27.640 that it's in, and then of course the all coins 27 00:01:27.640 --> 00:01:30.079 will follow. And of course the Fear and Greed index 28 00:01:30.159 --> 00:01:33.719 is in extreme fear that is very bullish in a bullmarket. 29 00:01:33.799 --> 00:01:36.719 In a bear market, not good obviously, but we're still 30 00:01:36.799 --> 00:01:39.599 in a bullmarket, so this is a good sign, and 31 00:01:39.760 --> 00:01:44.000 fingers crossed for a reversal sooner than later. One thing 32 00:01:44.040 --> 00:01:47.599 that's interesting is that bitcoin whales continue to buy guys, 33 00:01:47.640 --> 00:01:51.319 so a bitfinex whale, and people have been tracking this 34 00:01:51.519 --> 00:01:55.840 person's movements for years, going back to previous bull markets. 35 00:01:56.519 --> 00:02:00.840 They bought four thousand bitcoin during yesterday's Now this is 36 00:02:00.879 --> 00:02:02.799 being tracked with on chain data, so this is how 37 00:02:02.799 --> 00:02:05.480 they know that. So in twenty twenty two, after the 38 00:02:05.560 --> 00:02:11.680 lunar ftx crashes, he accumulated seventy thousand bitcoin between fourteen 39 00:02:11.719 --> 00:02:15.360 thousand and sixteen thousand dollars and later sold between forty 40 00:02:15.439 --> 00:02:19.080 thousand and seventy thousand dollars In twenty twenty four he 41 00:02:19.159 --> 00:02:23.800 acquired twenty four thousand bitcoin, selling from seventy k to 42 00:02:23.879 --> 00:02:27.360 one hundred and eight thousand dollars. This is a very 43 00:02:27.400 --> 00:02:29.719 smart whale. He knows how to play the markets. He 44 00:02:29.879 --> 00:02:33.840 swing trades right and then he has taken another position again. 45 00:02:34.039 --> 00:02:36.759 So this is why I always share what the whales 46 00:02:36.800 --> 00:02:39.680 are doing with the data from Saniment right with wallets 47 00:02:39.680 --> 00:02:42.960 of ten or more bitcoin, because it really tells what 48 00:02:43.080 --> 00:02:45.360 they are anticipating for the market, and they move a 49 00:02:45.400 --> 00:02:47.680 lot of the markets. They do it for all coins 50 00:02:47.680 --> 00:02:51.919 as well, so whales continue to accumulate. They're not dumping. 51 00:02:52.120 --> 00:02:54.479 And this is the difference between smart money and a 52 00:02:54.479 --> 00:02:57.439 lot of the retail folks. And unfortunately the retail crowd, 53 00:02:57.759 --> 00:03:00.479 many of them get called dumb money right because they 54 00:03:00.520 --> 00:03:03.800 operate by feelings and emotions versus whales are looking at 55 00:03:03.800 --> 00:03:06.599 the charts, the data, the sentiment of the retail and 56 00:03:06.599 --> 00:03:09.439 they're doing the opposite. And that's why I've been trying 57 00:03:09.439 --> 00:03:12.319 to share with you guys for years and hoping that 58 00:03:12.719 --> 00:03:16.000 what I'm sharing is helping you guys to navigate the markets, 59 00:03:16.000 --> 00:03:18.919 to not move by emotions and to look at the data. 60 00:03:19.240 --> 00:03:21.800 It's why I keep harping on those things because it's 61 00:03:21.840 --> 00:03:25.360 so important. I worked at a crypto exchange. I've talked 62 00:03:25.400 --> 00:03:28.080 to different hedge funds and vcs, so I have an 63 00:03:28.159 --> 00:03:30.680 idea what's happening here, and I've studied the charts and 64 00:03:30.719 --> 00:03:33.439 the data, the unschain data myself, and then my eyes 65 00:03:33.439 --> 00:03:36.360 were open as to how this market really works. Now 66 00:03:36.360 --> 00:03:38.159 do I get everything perfect or right? 67 00:03:38.240 --> 00:03:40.039 Of course not. I don't have a crystal. 68 00:03:39.680 --> 00:03:42.719 Ball, but I can at least use the data to 69 00:03:42.840 --> 00:03:47.159 form a thesis versus my gut feeling versus emotions. Oh 70 00:03:47.199 --> 00:03:48.960 the price is up, I feel happy. Oh the price 71 00:03:49.039 --> 00:03:51.840 is down, I feel sad. You can't invest like that. 72 00:03:51.840 --> 00:03:54.879 That is not how you invest right. So, based on 73 00:03:54.919 --> 00:03:57.759 the data, guys bull market not over whales continue to 74 00:03:57.800 --> 00:04:02.719 accumulate and they are anticipating prices. What's interesting, Texas Bitcoin 75 00:04:02.759 --> 00:04:05.520 Strategic Reserve bill is headed to the Senate floor. So 76 00:04:05.560 --> 00:04:08.719 we saw in Utah the same thing happen. So some 77 00:04:08.759 --> 00:04:11.639 states have been rejecting these bills right in full transparency, 78 00:04:12.120 --> 00:04:15.400 but we could see those states that are very pro crypto, 79 00:04:16.000 --> 00:04:19.040 like Texas get it done. But we'll have to wait 80 00:04:19.040 --> 00:04:21.160 and see. My thoughts as I shared the other day 81 00:04:21.199 --> 00:04:23.439 is that this is the first go round. There's going 82 00:04:23.519 --> 00:04:25.560 to be a lot of pushback because not a lot 83 00:04:25.560 --> 00:04:28.879 of people understand bitcoin or crypto. And then after the 84 00:04:28.959 --> 00:04:31.279 last four years with Gainser and Elizabeth Warren and all 85 00:04:31.319 --> 00:04:33.199 these people are spreading fud and doing all kinds of 86 00:04:33.240 --> 00:04:36.879 crazy stuff, you can imagine that people are going to 87 00:04:36.959 --> 00:04:39.800 be hesitant. But you have to get started. You got 88 00:04:39.800 --> 00:04:42.120 to get the ball rolling. So introducing the bills is 89 00:04:42.160 --> 00:04:44.399 the first step. It gets rejected the first time. You 90 00:04:44.480 --> 00:04:47.879 keep reintroducing it. We've seen this with crypto legislation in 91 00:04:47.920 --> 00:04:50.800 the Congress, of course in the Senate, in the House, 92 00:04:51.079 --> 00:04:53.480 so things will have to be reintroduced, but we're making 93 00:04:53.560 --> 00:04:58.720 progress in certain states now. The SEC today officially confirm 94 00:04:59.000 --> 00:05:02.079 that they have dropped their case against Coinbase. We heard 95 00:05:02.279 --> 00:05:05.199 obviously late last week, I think Friday last week that 96 00:05:05.319 --> 00:05:09.079 Coinbase got noticed from the SEC that they planned to 97 00:05:09.160 --> 00:05:12.079 drop the case. Well, it's official, guys, it's in writing, 98 00:05:12.480 --> 00:05:15.279 So this is huge. I actually interviewed Paul gray Wall, 99 00:05:15.639 --> 00:05:18.959 chief legal officer of Coinbase today, so I'll publish that 100 00:05:19.040 --> 00:05:21.199 interview in the morning, and we talked about what are 101 00:05:21.360 --> 00:05:25.439 Coinbase's plans and how does this open up their strategy 102 00:05:26.160 --> 00:05:28.959 for growth and much more. Now they they don't have 103 00:05:29.000 --> 00:05:31.519 to worry about this. And you got to watch the interview. 104 00:05:31.560 --> 00:05:33.279 It's a good one and we covered a lot of 105 00:05:33.319 --> 00:05:35.319 things that are happening in the crypto market. 106 00:05:35.680 --> 00:05:36.879 The other big news. 107 00:05:36.680 --> 00:05:39.720 Is that the SEC dropped its case against Consensus as 108 00:05:39.759 --> 00:05:42.519 it relates to the Meta mass wallet. This is a 109 00:05:42.519 --> 00:05:45.600 big win obviously for Consensus and the folks at Ethereum. 110 00:05:46.040 --> 00:05:48.879 So we continue to see hester person the Crypto Task 111 00:05:48.920 --> 00:05:53.040 Force doing amazing work here dropping these non fraud cases. 112 00:05:53.600 --> 00:05:56.680 Many of these cases were just simply bullshit put together 113 00:05:56.759 --> 00:06:00.519 by acmeback regulator that is Gary Genser. Now, the big 114 00:06:00.600 --> 00:06:03.360 question many folks are waiting to hear and see is 115 00:06:03.399 --> 00:06:06.800 of course crack in Exchange and of course Ripple. I 116 00:06:07.040 --> 00:06:09.360 said before that you know, the Ripple case is much 117 00:06:09.399 --> 00:06:12.480 more complex. But what we could see is a pause 118 00:06:12.639 --> 00:06:15.199 like they did in the Binance case and the Tron case, 119 00:06:15.639 --> 00:06:18.240 that we're not gonna fully resolve everything right now, but 120 00:06:18.360 --> 00:06:21.800 we're gonna pause all the legal activities and everything, and 121 00:06:22.000 --> 00:06:24.879 maybe they wait for Paul Atkins to come into office 122 00:06:25.160 --> 00:06:28.279 to get some of this done. So I'm hoping guys, 123 00:06:28.319 --> 00:06:32.079 maybe tomorrow we hear that kracking has been dropped or pause, 124 00:06:32.439 --> 00:06:35.920 and maybe rippled is pause. It would be really great 125 00:06:35.959 --> 00:06:38.040 because every day we're pretty much hearing something. 126 00:06:38.079 --> 00:06:38.560 And look at this. 127 00:06:39.079 --> 00:06:41.319 The folks that watch at Giru Guru kind of mapped 128 00:06:41.319 --> 00:06:44.519 out what we saw this week. Monday was Robinhood, Tuesday UNISWAP, 129 00:06:44.560 --> 00:06:48.399 Wednesday Gemini today consensus. As far as the cases drop, 130 00:06:48.439 --> 00:06:52.279 what is tomorrow? You know Fridays. So, guys, we are 131 00:06:52.439 --> 00:06:55.959 setting up here for the continuation of the bullmarket and 132 00:06:56.000 --> 00:07:00.199 to have these cases removed, the dark clouds removed are 133 00:07:00.199 --> 00:07:02.480 a lot of coins were mentioned in these cases. 134 00:07:03.000 --> 00:07:04.600 This is very bullish. 135 00:07:04.720 --> 00:07:08.720 It means investors don't have to worry, especially institutional investors, right, 136 00:07:09.079 --> 00:07:11.879 they are more risk averse versus retail may say, you 137 00:07:11.920 --> 00:07:14.199 know what, I'll buy, I'll buy Salon, I'll buy Xi, 138 00:07:14.360 --> 00:07:17.959 I'll buy this, right, don't matter. But these institutional investors 139 00:07:18.000 --> 00:07:21.560 they can't just do that, right. They have legal teams 140 00:07:21.600 --> 00:07:24.680 and legal departments that are advising them, like, hey, don't 141 00:07:24.720 --> 00:07:25.439 touch that asset. 142 00:07:25.480 --> 00:07:28.319 It's an mention in a lawsuit, right, things like that. 143 00:07:28.360 --> 00:07:32.040 But with these things removed, oh man, it's a beautiful 144 00:07:32.079 --> 00:07:35.480 set up here, the macro, the charts and you know, 145 00:07:35.519 --> 00:07:38.720 the government and the regulation side of things are moving ahead, 146 00:07:38.800 --> 00:07:41.759 so really really great. Now, the other thing that many 147 00:07:41.759 --> 00:07:44.040 people are waiting for is the SEC to approve the 148 00:07:44.199 --> 00:07:47.680 XRP Salona ETFs and much more. And one of the 149 00:07:48.160 --> 00:07:50.839 things we've seen historically with the secs they want to 150 00:07:50.839 --> 00:07:53.920 see the futures market first before they approve the spot. 151 00:07:53.959 --> 00:07:56.360 They did this for bitcoin and e theorem doesn't mean 152 00:07:56.399 --> 00:07:59.279 they have to do it again, but most likely they will. Well, 153 00:07:59.399 --> 00:08:02.839 people are making progress and putting Solona futures in place, 154 00:08:02.920 --> 00:08:06.240 and there has been some filers for XRP futures as well, 155 00:08:06.360 --> 00:08:10.639 sort of DTCC list. The first set of Solana futures 156 00:08:10.720 --> 00:08:15.600 ETFs fueling hopes were this spot Solana fun approval. So 157 00:08:15.759 --> 00:08:19.680 this is really great, guys. Volatility Shares proposed Solana Futures 158 00:08:19.680 --> 00:08:24.079 ETFs and it appeared on the dtcc's list of exchange 159 00:08:24.120 --> 00:08:27.839 traded funds. So earlier this month the SEC acknowledged the 160 00:08:27.879 --> 00:08:32.480 spots Salona ETF filing some multiple issuers. Things are progressing, 161 00:08:32.559 --> 00:08:35.840 and remember Solana was mentioned in somebody's lawsuits against like 162 00:08:35.919 --> 00:08:39.000 cracking and coinbase. Those cases are going to be dismissed obviously, 163 00:08:39.080 --> 00:08:42.320 Coinbase already we're just waiting for cracking. So you see 164 00:08:42.320 --> 00:08:44.080 the set up here, I hope you see to set 165 00:08:44.120 --> 00:08:46.840 up the case is being dismissed. These things progressing on 166 00:08:46.879 --> 00:08:51.120 the ETF front, the macro global liquidity on the rise again, 167 00:08:51.559 --> 00:08:55.279 bitcoineering its bottom. I like what I'm seeing here, guys. 168 00:08:55.399 --> 00:08:58.519 I don't like the price as it is right now, obviously, 169 00:08:58.919 --> 00:09:01.759 but I like this setup which will lead to higher prices. 170 00:09:01.799 --> 00:09:04.879 I hope you guys understand them now. Bitwise, which of 171 00:09:04.960 --> 00:09:08.360 course issues a lot of ETFs, and they have been 172 00:09:08.399 --> 00:09:12.200 filing for XRP ETFs and much more. They have registered 173 00:09:12.240 --> 00:09:15.039 an app toss ETF entity. Remember they did this for 174 00:09:15.200 --> 00:09:18.039 XRP and other coins. So this is like the process 175 00:09:18.120 --> 00:09:21.919 leading up to them filing for an aptose spot ETF. 176 00:09:22.039 --> 00:09:26.240 So we will see a lot of different all coin ETPs, guys, 177 00:09:26.320 --> 00:09:29.840 and eventually you're going to see basket ETFs where investors 178 00:09:29.879 --> 00:09:32.679 can get the top five and or the top all 179 00:09:32.720 --> 00:09:35.000 coins in you know, based on different categories, if they're 180 00:09:35.039 --> 00:09:38.120 smart contracts or they're layer ones. You know, you guys 181 00:09:38.159 --> 00:09:40.879 get what I'm saying. A lot of different ETF products 182 00:09:40.879 --> 00:09:43.559 are going to be created here and I often have 183 00:09:43.679 --> 00:09:46.360 Matt Hogan from Bitwise on the podcast, and you know 184 00:09:46.840 --> 00:09:50.200 they're very big on getting the xrp ETF through. They 185 00:09:50.200 --> 00:09:52.960 were one of the first to do it last year, 186 00:09:53.399 --> 00:09:56.159 even like before the elections. So shout out to Matt 187 00:09:56.159 --> 00:09:59.039 Hogan and the team at bitwise. They're doing great work here. 188 00:10:00.120 --> 00:10:02.360 Quick word from our sponsor and that is Bitco. Bitco 189 00:10:02.440 --> 00:10:05.480 is one of the top tier crypto custodians in the market. 190 00:10:05.679 --> 00:10:08.519 They've been through multiple bull and bear market cycles. They're 191 00:10:08.519 --> 00:10:11.240 headed up by Mike Belshie, who's a Web one point 192 00:10:11.320 --> 00:10:14.519 zero two point zero legend. Bitco is used by many 193 00:10:14.600 --> 00:10:18.279 big brands and companies and enterprises across the crypto industry. 194 00:10:18.279 --> 00:10:22.840 Guys for example, twenty one Shares, which issues crypto ETPs 195 00:10:22.879 --> 00:10:26.799 like Bitcoin an e theorem, uses Bitgo, Pantera Capital. That's 196 00:10:26.879 --> 00:10:30.440 Dan Moorhead, the first crypto hedgepunt in this industry going 197 00:10:30.480 --> 00:10:35.440 back to twenty thirteen, Suite the Token Project and bitstamp Exchange, 198 00:10:35.759 --> 00:10:40.159 so they are trusted by many entities. They provide amazing services, 199 00:10:40.200 --> 00:10:45.600 wallet services, liquidity and capital services and much more. They 200 00:10:45.639 --> 00:10:48.879 also have a retail product guys where you can buy, sell, 201 00:10:49.240 --> 00:10:52.799 and trade crypto, also stake your crypto. It's really great 202 00:10:52.879 --> 00:10:55.600 and of course they have a self hosted wallet, so 203 00:10:55.639 --> 00:10:58.679 you're getting top of the level security here from one 204 00:10:58.679 --> 00:11:01.120 of the largest custodians in the crypto industry. Has been 205 00:11:01.159 --> 00:11:03.320 around for a long time, and we know security is 206 00:11:03.320 --> 00:11:05.559 such a big thing. We saw what happened with the 207 00:11:05.600 --> 00:11:08.799 bibit hack, right, that can happen with bitgo because of 208 00:11:08.840 --> 00:11:11.840 how their security setup is. I've had Mike Belshie on 209 00:11:11.840 --> 00:11:14.759 the podcast many times talking about this. I plan to 210 00:11:14.799 --> 00:11:16.759 have him back on again. I think it's important to 211 00:11:16.799 --> 00:11:20.080 review security protocols and much more and so people can 212 00:11:20.120 --> 00:11:23.879 safeguard their assets. So bitco doing great things. If you'd 213 00:11:23.919 --> 00:11:26.399 like to learn more about Bitgo, go to bitgo dot com. 214 00:11:26.480 --> 00:11:29.240 Link will be in the description. Okay, guys, let's talk 215 00:11:29.240 --> 00:11:31.000 about the sec and meme coins. 216 00:11:31.120 --> 00:11:32.039 So eleanor Tarota. 217 00:11:32.080 --> 00:11:35.679 Fox Business reported that the SEC division of Corporation Finance 218 00:11:35.720 --> 00:11:38.799 has just put out guidance on mean coins saying they 219 00:11:38.799 --> 00:11:43.200 are not securities and are akin to collectibles. So this 220 00:11:43.360 --> 00:11:47.000 seems reasonable, right. Mean coins are not securities, obviously, but 221 00:11:47.080 --> 00:11:49.399 the problem we have is people are abusing the mean 222 00:11:49.519 --> 00:11:53.279 cooin creation and rug pulling people. So we need law 223 00:11:53.360 --> 00:11:55.600 enforcement to get involved. I don't know if it's the 224 00:11:55.639 --> 00:11:57.720 SEC that has to get involved here, but other law 225 00:11:57.799 --> 00:12:01.679 enforcements to stop these activity. We know there's been established 226 00:12:01.720 --> 00:12:04.799 mean coins for years, like doge coin, Pepe, Shiva, and 227 00:12:04.799 --> 00:12:07.519 so forth, which are not set up as rug pulls. Now, 228 00:12:07.679 --> 00:12:11.240 they're still risky investments because they're just not They're not 229 00:12:11.279 --> 00:12:14.080 based on anything. They're not tokens that are greasing a 230 00:12:14.159 --> 00:12:17.559 layer one that has banks launching services and much more 231 00:12:17.679 --> 00:12:20.840 or doing payments. Right, meme coins are just gambling. So 232 00:12:21.679 --> 00:12:24.200 but I'm not against people being able to spend their 233 00:12:24.240 --> 00:12:26.159 money in invest in mean coins because I believe in 234 00:12:26.159 --> 00:12:27.000 the free market. 235 00:12:27.240 --> 00:12:29.279 But I what I don't like is the rug pulling. 236 00:12:29.799 --> 00:12:31.159 So it's good that. 237 00:12:31.120 --> 00:12:33.080 The SEC came out and give this clarity, and I 238 00:12:33.080 --> 00:12:36.279 think it makes sense. I've been very vocal that I 239 00:12:36.320 --> 00:12:38.559 did not like the fact that Donald Trump launched a 240 00:12:38.639 --> 00:12:41.159 meme coin, the Milania and all that. I think that 241 00:12:41.200 --> 00:12:43.480 took away a lot of credibility from the industry, which 242 00:12:43.600 --> 00:12:45.759 doesn't mean the industry is over, the acid classes over, 243 00:12:45.799 --> 00:12:48.759 It's just it was not something as sitting president should 244 00:12:48.799 --> 00:12:52.440 do whether Democrat or Republican, doesn't matter, right, But look 245 00:12:52.480 --> 00:12:55.639 at this, there's a bit of politics happening here. Congressman 246 00:12:55.759 --> 00:12:59.679 introduces bill to stop politicians from issuing mean coins following 247 00:12:59.720 --> 00:13:02.759 Trump and Milennia launches. I don't have a problem with this, 248 00:13:02.960 --> 00:13:05.639 although it's coming from a Democrat, so of course he's 249 00:13:05.679 --> 00:13:08.000 trying to there's a bit of politics here, right, I'm 250 00:13:08.000 --> 00:13:10.159 gonna go against Trump, who's a Republican and all that. 251 00:13:10.399 --> 00:13:12.840 But at the end of the day, Democrat or Republican, 252 00:13:12.879 --> 00:13:14.720 I don't believe any of these folks should be able 253 00:13:14.759 --> 00:13:17.759 to launch mean coins because you're in office. 254 00:13:17.960 --> 00:13:18.240 Right. 255 00:13:18.919 --> 00:13:22.639 The other factor is they say this, but then they 256 00:13:22.639 --> 00:13:26.320 don't stop Congress from owning stocks and all these things, right, 257 00:13:26.360 --> 00:13:27.879 They don't stop Nancy Pelosi. 258 00:13:27.960 --> 00:13:29.919 So it's like, it. 259 00:13:29.919 --> 00:13:32.559 Would be nice if you included that all members of 260 00:13:32.600 --> 00:13:35.679 Congress can't do these things, whether it be stocks or crypto. 261 00:13:35.799 --> 00:13:38.440 Now it's not a matter of owning the stocks. 262 00:13:38.519 --> 00:13:41.679 Is the trading, right, because you could hold some bitcoin 263 00:13:42.000 --> 00:13:46.399 and you're not trading it necessarily Pelosi's trading, right. So 264 00:13:46.440 --> 00:13:49.639 whether you're a Democrat or Republican or independent, whatever, they 265 00:13:49.679 --> 00:13:50.320 can't have that. 266 00:13:50.399 --> 00:13:50.600 Man. 267 00:13:50.759 --> 00:13:55.519 That is such blatant insider trading, right, it's crazy. So 268 00:13:55.639 --> 00:13:59.919 Representative Sam Lecardo, Democrat out of California, will introduce Thursday 269 00:14:00.159 --> 00:14:03.080 a bill that would block the President, members of Congress, 270 00:14:03.120 --> 00:14:05.840 and other senior officials, as well as their spouses and 271 00:14:05.960 --> 00:14:09.879 children from issuing or sponsoring securities or cryptocurrencies like meme coins, 272 00:14:10.120 --> 00:14:11.799 according to a draft bill seen by. 273 00:14:11.639 --> 00:14:12.639 The Associated Press. 274 00:14:12.679 --> 00:14:15.559 So now there's a video circulating where he talked about 275 00:14:15.559 --> 00:14:18.120 it on the House floor, and he had a poster 276 00:14:18.200 --> 00:14:20.360 where it's aid a rug pull and all these things. 277 00:14:20.679 --> 00:14:23.360 So once again a bit of politics here, Democrat going 278 00:14:23.399 --> 00:14:27.600 against the Republicans. But overall, both Democrats and Republicans should 279 00:14:27.600 --> 00:14:30.919 not be able to launch meme coins, and we need 280 00:14:30.919 --> 00:14:32.320 to stop the trading. 281 00:14:31.960 --> 00:14:34.279 Aspect of it. It's not good. 282 00:14:34.600 --> 00:14:38.080 So we'll see how this goes, and if Republicans join 283 00:14:38.600 --> 00:14:41.720 him in this, I don't know. But guys, nature is 284 00:14:41.759 --> 00:14:44.200 healing because we got news that Pump that Fun, which 285 00:14:44.240 --> 00:14:47.159 is the meme coin platform on Salona where a lot 286 00:14:47.240 --> 00:14:50.519 of these bullshit meme coins get started on is seeing 287 00:14:50.639 --> 00:14:55.360 rapid decline in graduating tokens as meme coin frenzy fizzles out. 288 00:14:55.919 --> 00:14:58.080 I love it. I love it. I love it. 289 00:14:58.120 --> 00:15:00.399 I love it because this thing was still a lot 290 00:15:00.399 --> 00:15:04.000 of liquidity from actual great all coins, and I think 291 00:15:04.480 --> 00:15:07.600 this correction, the silver lining to this correction is that 292 00:15:07.639 --> 00:15:10.639 these meme coins are bleeding out. I hope many of 293 00:15:10.679 --> 00:15:14.000 them die and the liquidity flows back to Bitcoin, and 294 00:15:14.080 --> 00:15:16.879 we continue to show as usual, bitcoin leads the market 295 00:15:17.159 --> 00:15:20.480 and then the liquidity and then flows to alls typically 296 00:15:20.559 --> 00:15:25.840 outperform Bitcoin, and maybe some meme coins will come back again. 297 00:15:25.919 --> 00:15:30.720 But I'm hoping that you know, your quality coins like 298 00:15:30.759 --> 00:15:35.919 your x rp Etherorem, Solona, Cardono, Aptose and Avax and 299 00:15:35.919 --> 00:15:39.080 so forth, like projects that are building incredible stuff are 300 00:15:39.080 --> 00:15:42.320 getting real world adoption. Those do well. I think many 301 00:15:42.320 --> 00:15:45.759 of you will agree with me. Right, So great news 302 00:15:45.759 --> 00:15:50.159 here on the meme coin front. Now, Robinhood CEO Vlad 303 00:15:50.200 --> 00:15:54.159 Teneve sees tokenization as a means to unleash true power 304 00:15:54.279 --> 00:15:57.759 of the crypto revolution. We know Robin Hood is all 305 00:15:57.799 --> 00:16:02.519 in on crypto now and they recently acquired bitstamp exchange. Now. 306 00:16:02.559 --> 00:16:07.639 I interviewed the CEO of bitstamp us this past week. 307 00:16:07.720 --> 00:16:10.720 I'll publish that interview on Monday, and we talked a 308 00:16:10.720 --> 00:16:14.000 bit about this, but robin Hood. They know this is 309 00:16:14.000 --> 00:16:16.519 the future and they're going all in in very smart 310 00:16:16.559 --> 00:16:20.039 move on their part. I interviewed robin Hood's head of 311 00:16:20.080 --> 00:16:25.320 crypto last year, Johann kerbat If pronounced his name right, 312 00:16:25.679 --> 00:16:28.279 and I'll try to get him back on. But guys, 313 00:16:28.320 --> 00:16:30.120 I'm seeing a lot of big moves from robin Hood 314 00:16:30.120 --> 00:16:35.240 and they recognize the future is tokenization. Guys, I've been 315 00:16:35.279 --> 00:16:38.039 talking about the token economy for years, and all these 316 00:16:38.080 --> 00:16:40.240 big players recognize that. You know, earlier this week we 317 00:16:40.279 --> 00:16:45.200 talked about Citadel's securities. You know, they capitulated and they're 318 00:16:45.200 --> 00:16:47.759 going to launch services for the crypto market, and they've 319 00:16:47.759 --> 00:16:51.399 been vocal critics. Their CEO at least has been a 320 00:16:51.440 --> 00:16:54.600 vocal critic of crypto for years. So the trading platform 321 00:16:54.679 --> 00:16:57.759 is also planning to offer more cryptocurrencies to its users, 322 00:16:57.799 --> 00:17:01.480 continue to invest in its non odeal wallet, and bring 323 00:17:01.480 --> 00:17:04.960 the Robinhood effect to the institutional crypto market via its 324 00:17:05.000 --> 00:17:08.319 bitstamp integration. Guys, I hope you see what's happening here. 325 00:17:08.880 --> 00:17:11.440 And people are very distracted by price and other things 326 00:17:11.480 --> 00:17:15.519 that are going on. And while these massive companies are 327 00:17:15.559 --> 00:17:19.000 building and investing and they have the long term view. 328 00:17:19.640 --> 00:17:23.359 So they're not panicking, they're not panic selling and getting 329 00:17:23.400 --> 00:17:27.400 worried and fearful, and unfortunately, I guess this is the 330 00:17:27.799 --> 00:17:30.759 nature of markets, right, those who are educated and understand 331 00:17:30.759 --> 00:17:33.640 what's happening versus those who don't, and that's just how 332 00:17:33.640 --> 00:17:34.039 it goes. 333 00:17:34.200 --> 00:17:35.039 Now, check this out. 334 00:17:35.160 --> 00:17:40.240 T Mobile parent Deutsche Telecom joins Finance incubated Injective as 335 00:17:40.480 --> 00:17:43.079 a validator. So we've seen T Mobile in the parent 336 00:17:43.079 --> 00:17:46.079 company get involved with different crypto projects. Guys, they've been 337 00:17:46.119 --> 00:17:49.200 doing this for years. So Deutsche Telecom is running a 338 00:17:49.279 --> 00:17:53.039 validator on Injective, the high speed interoperable Layer one blockchain 339 00:17:53.039 --> 00:17:57.119 incubated by Finance Labs. The major telecommunications firm has an 340 00:17:57.160 --> 00:18:00.799 increasingly large presence in the space as a validator for Polygon, 341 00:18:00.920 --> 00:18:04.160 Polka Dot, chain Link, Selo and Flow, as well as 342 00:18:04.279 --> 00:18:09.079 other crypto related business lines. Guys, why would a major 343 00:18:09.160 --> 00:18:13.799 telecommunications firm be getting involved in this? To some people, 344 00:18:13.839 --> 00:18:18.079 this is a fad, a scam, a ponzi, right, it's 345 00:18:18.119 --> 00:18:21.240 all fake stuff. It's all a scam. But you see 346 00:18:21.240 --> 00:18:23.200 why you have to do your own research. You see 347 00:18:23.200 --> 00:18:25.759 why you need to educate yourself. These companies are not 348 00:18:25.920 --> 00:18:29.160 doing this for fun. They are looking to position themselves 349 00:18:29.240 --> 00:18:32.480 to not get disrupted. They see what's on the horizon, 350 00:18:32.759 --> 00:18:36.079 how things are changing. Just like companies in the nineties 351 00:18:36.119 --> 00:18:38.440 and in the early two thousand had to adopt to 352 00:18:38.480 --> 00:18:42.039 the internet. Where are we headed? Where are people going 353 00:18:42.119 --> 00:18:44.319 to shop? Where are people going to communicate? And do 354 00:18:44.319 --> 00:18:45.480 do their things online? 355 00:18:45.559 --> 00:18:45.759 Right? 356 00:18:46.319 --> 00:18:49.039 Adapt or die? If they don't, they will have their 357 00:18:49.079 --> 00:18:54.240 Blockbuster moment. Blockbuster failed to adapt to the internet. Netflix 358 00:18:54.279 --> 00:18:57.960 came to them, and a Blockbuster had the ability to 359 00:18:58.759 --> 00:19:03.640 acquire Netflix. Theyn't do it and the rest is history bankruptcy. 360 00:19:03.880 --> 00:19:08.240 Netflix now a dominant giant in how people get their content, 361 00:19:08.359 --> 00:19:09.759 stream movies and much more. 362 00:19:09.839 --> 00:19:10.319 So. 363 00:19:10.359 --> 00:19:12.839 That's why these companies are not playing around. They're getting 364 00:19:12.839 --> 00:19:16.200 involved and they're taking their positions, guys. Final news item 365 00:19:16.279 --> 00:19:20.839 crypto exchange bitmex seeks buyer, taps broad Haven Capital Partners 366 00:19:20.880 --> 00:19:24.440 to help with sale per report. So this is interesting. 367 00:19:24.839 --> 00:19:28.279 I've never used bit mechs. The firm employed the independent 368 00:19:28.359 --> 00:19:32.400 investment bank broad Haven Capital Partners to facilitate the sale. 369 00:19:32.599 --> 00:19:35.000 Bitmex Is search for a buyer comes after a federal 370 00:19:35.079 --> 00:19:38.000 judge find a firm one hundred million dollars for violating 371 00:19:38.039 --> 00:19:39.000 the Bank. 372 00:19:38.839 --> 00:19:43.240 Secrecy Act last month. So some of these legacy exchanges 373 00:19:43.279 --> 00:19:44.920 are still getting hit and dinged. 374 00:19:45.359 --> 00:19:48.240 But it looks like they don't have the capital to 375 00:19:48.519 --> 00:19:51.160 you know, obviously come to compliance with this or paid 376 00:19:51.200 --> 00:19:54.440 that f fine and survive. But let's look at who 377 00:19:54.519 --> 00:19:59.079 may buy them out right, maybe other exchanges or some banks. 378 00:19:59.440 --> 00:20:03.599 We're seeing banks globally getting involved. So I'm very curious 379 00:20:03.720 --> 00:20:06.160 if some banks are gonna come in and say, we'll 380 00:20:06.200 --> 00:20:09.119 take care of it, give us all your technology, your 381 00:20:09.119 --> 00:20:13.200 customer base and all that, and uh, the bank's got 382 00:20:13.240 --> 00:20:16.839 the money to handle this. So this is interesting. You're 383 00:20:16.839 --> 00:20:20.119 gonna see some consolidation, guys. As SAB one two one 384 00:20:20.240 --> 00:20:22.960 is repealed here in the United States and the fdi 385 00:20:23.039 --> 00:20:26.720 C is loosening restrictions, these banks can get involved. Just Wednesday, 386 00:20:26.960 --> 00:20:29.480 we talked about Bank of America's CEO saying they're gonna 387 00:20:29.519 --> 00:20:32.440 launch a staple coin. Right, They're gonna do much more 388 00:20:32.480 --> 00:20:34.880 than that, guys. They're gonna launch crypto trading and custody. 389 00:20:35.039 --> 00:20:37.480 They're gonna build different financial products. Don't be surprised if 390 00:20:37.519 --> 00:20:38.160 they launched their. 391 00:20:38.039 --> 00:20:38.759 Own et apps. 392 00:20:38.799 --> 00:20:41.279 So you're gonna see some of these bigger whales buy 393 00:20:41.359 --> 00:20:44.319 up crypto companies, and so we're startup crypto companies. So 394 00:20:44.920 --> 00:20:47.319 it makes sense. These are things that happen in different 395 00:20:47.599 --> 00:20:50.759 acid classes and industries. So guys, that's the news. Let 396 00:20:50.799 --> 00:20:52.400 me know what you think. Leave your thoughts and comments 397 00:20:52.400 --> 00:20:54.880 below hit the thumbs up button. A great way you 398 00:20:54.920 --> 00:20:57.240 can support me in the podcast is by subscribing to 399 00:20:57.319 --> 00:20:59.880 my free email newsletter. It's one hundred percent free. It's 400 00:20:59.880 --> 00:21:02.319 on substack link of being a description. Check out my 401 00:21:02.319 --> 00:21:05.519