1 00:00:04,519 --> 00:00:07,839 Speaker 1: Hey everyone, Welcome into the Thinking Crypto podcast. You're home 2 00:00:07,919 --> 00:00:11,759 for cryptocurrency news and interviews. I'm your host, Tony Edward. 3 00:00:11,919 --> 00:00:14,359 On your way in, Please hit that subscribe button as 4 00:00:14,359 --> 00:00:16,719 well as a thumbs up button and leave a common below. 5 00:00:17,000 --> 00:00:19,640 If you're listening on a podcast platform such as Spotify 6 00:00:19,719 --> 00:00:21,800 or Apple, please be sure to follow and leave a 7 00:00:21,839 --> 00:00:24,440 five star rating. Folks. I want to apologize ahead of 8 00:00:24,440 --> 00:00:27,359 time for my voice quality. I've been battling the flu 9 00:00:27,480 --> 00:00:31,000 over the weekend and still in the recovery phase. But 10 00:00:31,160 --> 00:00:33,920 we have huge updates around the Claritiac that you need 11 00:00:33,960 --> 00:00:35,439 to know about, so I want to make this quick 12 00:00:35,520 --> 00:00:39,240 update for you. Let's jump into it. Okay, The latest 13 00:00:39,320 --> 00:00:43,159 update on the Claritiac timeline is a new Claritiac draft 14 00:00:43,200 --> 00:00:47,399 has been released, merging the Senate Banking and Agriculture Committee 15 00:00:47,439 --> 00:00:50,880 versions and adding an ethics provision for the first time. 16 00:00:51,280 --> 00:00:55,000 Emotion to proceed is expected Monday or Tuesday, with a 17 00:00:55,079 --> 00:00:58,640 possible floor vote the week of August third, So no 18 00:00:58,799 --> 00:01:02,200 votes this week, folks, will likely happen next week, which 19 00:01:02,240 --> 00:01:05,359 puts us against the timeline because August seventh is that 20 00:01:05,439 --> 00:01:08,799 hard cut off date before the August recess where the 21 00:01:08,840 --> 00:01:12,120 members of the House and Senate both go away. However, 22 00:01:12,200 --> 00:01:14,959 we have a very interesting update from President Trump. He's 23 00:01:14,959 --> 00:01:19,200 calling on Senator thun to cancel the August recess for 24 00:01:19,280 --> 00:01:22,560 the Senate until they pass the Save America Act. Now, 25 00:01:22,680 --> 00:01:25,159 it will also benefit the Claritiac because if there's no 26 00:01:25,239 --> 00:01:27,920 August recess, they will have the time to vote on 27 00:01:28,000 --> 00:01:30,879 not only the Save America Act but the CLARITIAC. This 28 00:01:31,000 --> 00:01:34,640 is a very interesting development. I don't know if it 29 00:01:34,680 --> 00:01:38,719 will actually be done, but James Murphy metelaw Man, I've 30 00:01:38,719 --> 00:01:40,760 had him on the podcast many times over the year, 31 00:01:41,159 --> 00:01:44,599 says the president has the legal authority to cancel the 32 00:01:44,640 --> 00:01:48,599 Senate recess. The President has the constitutional authority to call 33 00:01:48,719 --> 00:01:52,959 an extraordinary session of the Senate to vote on the 34 00:01:53,000 --> 00:01:56,400 Save America Act and the Clarity Act. The authority is 35 00:01:56,400 --> 00:01:59,640 found in Article two, Section three of the Constitution, which 36 00:01:59,680 --> 00:02:04,640 provides the President may, on extraordinary occasions, convene both the 37 00:02:04,680 --> 00:02:08,400 Houses or either of them. In nineteen eighty ninety, Office 38 00:02:08,400 --> 00:02:11,159 of Legal Counsel of the Department of Justice issued a 39 00:02:11,240 --> 00:02:15,319 legal opinion confirming this point. So could this be on 40 00:02:15,360 --> 00:02:17,840 the table. It seems like it because President Trump is 41 00:02:17,879 --> 00:02:20,759 talking about it, and he has the legal authority to 42 00:02:20,800 --> 00:02:23,400 do it, so this could certainly play out if they 43 00:02:23,400 --> 00:02:26,039 don't get these things done. I'm sure many of them 44 00:02:26,280 --> 00:02:28,759 want to have that break, so they most likely will 45 00:02:28,800 --> 00:02:32,879 get it done. But guys, the CLARITYAC, this updated version 46 00:02:33,240 --> 00:02:36,759 is getting the support from major financial institutions on Wall Street, 47 00:02:36,800 --> 00:02:40,919 which includes Blackrock, Charlis Schwab, Fidelity, Goldman Sachs, and of 48 00:02:40,960 --> 00:02:44,120 course Grayscale. So the big players are coming out saying 49 00:02:44,199 --> 00:02:48,599 pass this bill now and here Patrick Witt he retweeted 50 00:02:48,599 --> 00:02:51,319 some news around that saying, the largest asset manager in 51 00:02:51,360 --> 00:02:54,800 the world just endorsed the CLARITIAC and you're backpedaling. So 52 00:02:54,840 --> 00:02:58,879 he's talking about the Democrats, right because the ethics language 53 00:02:58,879 --> 00:03:00,879 has been put into the bill, But the Democrats are 54 00:03:00,919 --> 00:03:02,840 making it a lot about Trump when it should be 55 00:03:02,879 --> 00:03:06,560 about America and creating jobs and innovation, and the Claritiact 56 00:03:06,599 --> 00:03:10,400 helps to protect consumers while fostering innovation. Right now, the 57 00:03:10,479 --> 00:03:13,919 industry's unregulated, with the exception of stable coins because the 58 00:03:13,960 --> 00:03:16,680 Genius Act was passed last year for stable coins. But 59 00:03:17,000 --> 00:03:20,159 the Democrats know this, but they're playing the nasty political game, 60 00:03:20,199 --> 00:03:23,360 which really sucks right, and look, Republicans do it too, 61 00:03:23,840 --> 00:03:26,840 So the fact that they're doing this is really annoying. 62 00:03:26,919 --> 00:03:28,879 And we're going to talk a bit more about it 63 00:03:28,919 --> 00:03:31,599 because the usual suspects are starting to show up. But 64 00:03:31,680 --> 00:03:34,120 let me highlight some of the things the folks on 65 00:03:34,159 --> 00:03:36,719 Wall Street are saying. So Franklin Templeton, they put out 66 00:03:36,759 --> 00:03:40,080 a message today saying Franklin Templeton supports the passage of 67 00:03:40,120 --> 00:03:43,560 the CLARITIAC. The bill would make clear how cryptos regulated 68 00:03:43,919 --> 00:03:48,400 investors would know what predictions apply, firms would know which 69 00:03:48,479 --> 00:03:51,560 regulators they answer to. It's time to provide the industry 70 00:03:51,560 --> 00:03:55,840 to clarity. It needs Fidelity posted the following Fidelity urges 71 00:03:55,879 --> 00:03:58,520 the Senate passage of the Claritiac. The time is now 72 00:03:58,560 --> 00:04:01,280 for clear rules of the road that are essential to 73 00:04:01,360 --> 00:04:06,800 strengthening investor confidence, providing certainty for market participants, and reinforcing 74 00:04:06,919 --> 00:04:10,960 US leadership in global digital asset markets. And not only 75 00:04:11,080 --> 00:04:14,360 is it Wall Street firms here, the National Fraternal Order 76 00:04:14,479 --> 00:04:18,839 of Police officially endorses the amended CLARITIAC. So law enforcement 77 00:04:18,920 --> 00:04:22,000 agencies are backing this bill. This puts the Democrats in 78 00:04:22,079 --> 00:04:26,079 a very bad spot because you have law enforcement backing it, 79 00:04:26,279 --> 00:04:29,839 plus the major Wall Street firms, And I tweeted out 80 00:04:29,879 --> 00:04:32,240 today about this where I said, the Clarity Act is 81 00:04:32,240 --> 00:04:35,160 going to pass. Major Wall Street firms are backing the 82 00:04:35,279 --> 00:04:38,680 updated bill, and when they want something, they usually get it. 83 00:04:38,839 --> 00:04:41,959 Not to mention, lawmakers who continue to oppose the bill 84 00:04:42,279 --> 00:04:47,079 and crypto more broadly could face significant political consequences in 85 00:04:47,199 --> 00:04:52,040 this year's midterm elections a lah the twenty twenty four elections. Remember, 86 00:04:52,160 --> 00:04:54,839 the people who are anti crypto got their assets handed 87 00:04:54,879 --> 00:04:57,600 to them. And if they do that this year, in 88 00:04:57,399 --> 00:05:00,879 an election year, the crypto industry is ready to deploy 89 00:05:00,920 --> 00:05:03,920 the war chest. So they're playing with fire here, and 90 00:05:04,000 --> 00:05:06,439 I think they better get this bill passed and not 91 00:05:06,600 --> 00:05:09,240 make it all about Trump. I've been on record from 92 00:05:09,319 --> 00:05:11,399 day one. I don't like the Trump meme coin. I 93 00:05:11,399 --> 00:05:13,959 don't like the Milan and meme coin. No public officials 94 00:05:14,000 --> 00:05:17,720 should have that. But this bill does include ethics, so 95 00:05:17,839 --> 00:05:21,120 moving forward it prevents that. Let's get it done versus 96 00:05:21,160 --> 00:05:24,920 looking backwards with what's already done with Trump. Right, Let's 97 00:05:25,000 --> 00:05:27,800 move forward and make sure these things are in place, 98 00:05:28,240 --> 00:05:30,720 and there is a larger ethics issue. It's not a 99 00:05:30,720 --> 00:05:34,319 crypto specific thing. Trump and these folks and members of 100 00:05:34,399 --> 00:05:37,160 Congress are invested in stocks. Right, let's be clear. So 101 00:05:37,240 --> 00:05:40,120 this is not a crypto specific item. But folks, the 102 00:05:40,160 --> 00:05:43,839 Democrats and their usual suspects are showing up. We got 103 00:05:43,879 --> 00:05:48,120 Ben McKenzie Ryan from the OC. He's back talking about 104 00:05:48,279 --> 00:05:51,279 crypto's bad and they shouldn't pass this bill. And it's 105 00:05:51,959 --> 00:05:55,120 you cannot be against Trump's crypto corruption and then vote 106 00:05:55,120 --> 00:05:58,240 for a bill that enables that corruption to continue. That's 107 00:05:58,279 --> 00:06:01,319 such a lie. How could it can allow the corruption 108 00:06:01,399 --> 00:06:05,399 to continue if there's ethics in place? Right, such a 109 00:06:05,439 --> 00:06:08,120 big lie. But this guy is a paid actor, both 110 00:06:08,120 --> 00:06:11,680 in Hollywood and in politics. I believe he's on Elizabeth 111 00:06:11,720 --> 00:06:14,800 Warren's payroll. I could be wrong, but I believe he's 112 00:06:15,079 --> 00:06:18,120 on there because since the Biden administration, he was showing 113 00:06:18,199 --> 00:06:20,079 up to these hearings all of a sudden, like where 114 00:06:20,079 --> 00:06:22,040 did this guy come from? And you can tell he 115 00:06:22,120 --> 00:06:25,399 was buddy buddies with Elizabeth Warren. So he is certainly 116 00:06:25,439 --> 00:06:28,800 a crony of Elizabeth Warren. Here's another usual suspect as 117 00:06:28,800 --> 00:06:32,199 it relates to anti crypto. New York Attorney General Letitia 118 00:06:32,639 --> 00:06:36,839 James just demanded Congress to block the Claritiac. Of course 119 00:06:36,879 --> 00:06:39,920 she did. She claims it would neuter state and local 120 00:06:40,000 --> 00:06:43,560 law enforcement. Really, really, come on, this is so dumb. 121 00:06:44,160 --> 00:06:49,519 But again, we saw these actors do the same thing 122 00:06:49,879 --> 00:06:54,240 under Elizabeth Warren and Biden, you know, along with Gary Genser. 123 00:06:54,399 --> 00:06:57,160 So we know why all of a sudden you're seeing 124 00:06:57,160 --> 00:07:00,519 this coordinated effort. We know what the game is, right, 125 00:07:01,120 --> 00:07:04,199 and I'm sure Letitia James would love to bring some 126 00:07:04,240 --> 00:07:07,319 sort of charge against President Trump with the mean coin. 127 00:07:07,439 --> 00:07:09,240 And again I'm not a fan of it, but we 128 00:07:09,319 --> 00:07:11,839 got to move forward. We got to get America in 129 00:07:11,879 --> 00:07:14,199 the leadership. You got to create jobs and all these things. 130 00:07:14,240 --> 00:07:17,279 That's the bigger fish to fry here. That's the bigger 131 00:07:17,279 --> 00:07:20,279 picture we have to look at. But they're trying to 132 00:07:20,399 --> 00:07:24,199 make it political, of course, and it's nasty work. We 133 00:07:24,240 --> 00:07:28,639 know politics is nasty here. So hopefully they can get 134 00:07:28,639 --> 00:07:30,560 this thing done next week. I do believe they're going 135 00:07:30,600 --> 00:07:32,639 to get it done again the reasons I cited earlier. 136 00:07:32,759 --> 00:07:35,839 Wall Street firms that many of the people who donate 137 00:07:35,879 --> 00:07:40,160 to campaigns right, they want this pass. So you go 138 00:07:40,240 --> 00:07:43,199 against that. Not to mention, the crypto industry has that 139 00:07:43,319 --> 00:07:46,120 war chest ready, you're gonna get your asses handed to 140 00:07:46,199 --> 00:07:49,639 you if you do that. So right now in polymarket 141 00:07:49,800 --> 00:07:51,759 the odds are down to thirty eight percent. But we've 142 00:07:51,759 --> 00:07:54,639 seen this fluctuate, but we got to of course mention it. 143 00:07:54,680 --> 00:07:57,439 But I wouldn't bet on poly market right now. There's 144 00:07:57,439 --> 00:08:01,680 been too many fluctuations around it. Looking at the big 145 00:08:01,759 --> 00:08:05,759 players who are saying past this, Black Rock, Fidelity, Franklin, 146 00:08:05,800 --> 00:08:09,720 Templeton and others. So if they don't get it done again, 147 00:08:09,720 --> 00:08:12,600 they're going to feel it in the elections. All right, folks, 148 00:08:12,680 --> 00:08:15,480 quick word from our sponsor. This episode is brought to 149 00:08:15,519 --> 00:08:19,480 you by Fortax. Guys, Let's be honest. The crypto market 150 00:08:19,519 --> 00:08:22,480 has been moving sideways for a while now a lot 151 00:08:22,560 --> 00:08:25,199 of people are just sitting on their coins waiting for 152 00:08:25,279 --> 00:08:28,639 the next big move. But while you're waiting, your crypto 153 00:08:28,839 --> 00:08:32,600 is just sitting in your wallet doing absolutely nothing. That's 154 00:08:32,600 --> 00:08:36,399 why I want to mention one of my longtime partners, Fordax. 155 00:08:37,000 --> 00:08:39,360 Instead of just letting your assets sit idle, you can 156 00:08:39,399 --> 00:08:44,080 put supported cryptocurrencies into fortestx liquidity pools and earn daily 157 00:08:44,159 --> 00:08:48,840 rewards while still keeping the flexibility to withdraw whenever you want. 158 00:08:49,080 --> 00:08:51,559 One of the reasons I've continued working with them is 159 00:08:51,600 --> 00:08:55,480 because they keep delivering. The team is public, they've successfully 160 00:08:55,519 --> 00:09:00,639 completed Cyberscope team verification, kyc Past, independent secure the audits, 161 00:09:00,960 --> 00:09:04,840 and the platform has been building consistently for years. They 162 00:09:05,000 --> 00:09:09,000 focus on long term growth, transparency and security rather than hype. 163 00:09:09,200 --> 00:09:11,960 In a market like this, it makes far more sense 164 00:09:12,000 --> 00:09:14,600 to have your crypto working for you instead of letting 165 00:09:14,639 --> 00:09:17,639 it sit idle in your wallet. I've worked with fortest 166 00:09:17,799 --> 00:09:19,720 x for a long time, and if you're planning to 167 00:09:19,720 --> 00:09:23,120 hold your crypto anyway, I genuinely think it's one of 168 00:09:23,120 --> 00:09:26,320 the smartest ways to put those assets to work. And folks, 169 00:09:26,399 --> 00:09:28,360 I know security is very important to all of us 170 00:09:28,360 --> 00:09:30,919 as we hold our crypto assets and they are fully 171 00:09:30,960 --> 00:09:34,639 audited by certain and they are SEC registered and much 172 00:09:34,679 --> 00:09:38,080 more so. You've got to check out FORDX. Go to FORDESX, 173 00:09:38,120 --> 00:09:41,480 dot fi slash x slash thinking crypto link will be 174 00:09:41,600 --> 00:09:45,519 in the description. All right. Moving ahead, Securitize Capital becomes 175 00:09:45,559 --> 00:09:50,679 an SEC registered investment advisor, so the registration expands Securitize 176 00:09:50,720 --> 00:09:55,879 regulated platform for tokenized assets, adding investment advisory services to 177 00:09:55,919 --> 00:09:59,720 its institutional offering. Many of you know Securitize is the 178 00:09:59,720 --> 00:10:02,559 firm that helped black Rock to launch their tokenized fund, 179 00:10:02,879 --> 00:10:05,799 and they are leading to charge with building that infrastructure 180 00:10:05,840 --> 00:10:08,720 helping other institutions. They just went public recently on the 181 00:10:08,720 --> 00:10:11,480 New York Stock Exchange via a Spack merger and they 182 00:10:11,519 --> 00:10:13,879 continue to build an expanse. So it's great to see 183 00:10:14,120 --> 00:10:17,960 that when it comes to tokenized assets and institutions, they're 184 00:10:17,960 --> 00:10:21,480 setting themselves up to handle the different requests and needs 185 00:10:21,519 --> 00:10:26,159 from these institutions. So Securitize Capital, a subsidiary of tokenized 186 00:10:26,200 --> 00:10:29,759 asset platform Securitized, has registered with the SEC as an 187 00:10:29,799 --> 00:10:33,799 investment advisor, allowing the company to expand its regulated investment 188 00:10:33,879 --> 00:10:38,639 advisory business for institutional clients. Securitized set Monday. The registration 189 00:10:38,759 --> 00:10:44,919 adds investment advisory capabilities to Securitize existing regulated businesses, which 190 00:10:44,960 --> 00:10:50,679 include an SEC registered broker dealer, alternative trading system, transfer agent, 191 00:10:50,840 --> 00:10:55,639 and fund administration services. Well right moving ahead, Sam Altman's 192 00:10:55,720 --> 00:10:59,759 world Coin or Rural Network secures fifty two point five 193 00:10:59,759 --> 00:11:05,480 milliss and fresh funding to fight online aid fikes. Now, 194 00:11:05,559 --> 00:11:08,039 we've talked a lot about world Coin over the years, folks, 195 00:11:08,039 --> 00:11:10,639 and you know, I like the mission they have, but 196 00:11:10,679 --> 00:11:13,320 the way they're going about it is draconian. I've often 197 00:11:13,360 --> 00:11:17,120 talked about they're going to places where people would love 198 00:11:17,159 --> 00:11:20,399 to get easy money because due to their financial situation 199 00:11:20,519 --> 00:11:23,840 where maybe they're in a poor economy, poorer country and 200 00:11:23,879 --> 00:11:27,559 so forth, and world coins kind of taking advantage, right 201 00:11:27,600 --> 00:11:32,240 because they then scan those people's retina, they have their biometrics, 202 00:11:32,240 --> 00:11:35,080 so to speak, and they get some world coin. I 203 00:11:35,120 --> 00:11:38,159 think that's a bit draconian, especially the retina scan, right folks. 204 00:11:38,159 --> 00:11:42,480 And I've often stated, who's auditing this thing? That? What 205 00:11:42,480 --> 00:11:45,200 are they doing with that data? Right? That's very important. 206 00:11:45,200 --> 00:11:48,000 If there was a third party auditor or they're working 207 00:11:48,039 --> 00:11:49,799 with the government to say, hey, this data is secure, 208 00:11:49,879 --> 00:11:52,519 it's not being used in the fairest way, I would 209 00:11:52,559 --> 00:11:56,279 be more open, you know, to what they're doing. But 210 00:11:56,639 --> 00:12:00,360 they continue to raise capital here and it looks like 211 00:12:00,360 --> 00:12:03,639 they're trying to fight AID fakes. Let's see how far 212 00:12:03,720 --> 00:12:07,399 that goes. There are other blockchain projects working with news 213 00:12:07,440 --> 00:12:10,759 networks and much more to solve this issue. But the 214 00:12:10,799 --> 00:12:14,919 capital injection was led by Pantera Capital alongside Bain Capital, 215 00:12:15,240 --> 00:12:19,000 Crypto and a Co Holdings, and will be deployed to 216 00:12:19,080 --> 00:12:24,919 integrate identity technology across enterprise platforms and AI agents. So 217 00:12:24,960 --> 00:12:27,919 the World Network raised one hundred and thirty five million 218 00:12:28,080 --> 00:12:31,320 dollars in its first funding round in May of last 219 00:12:31,399 --> 00:12:34,799 year in a private token sale of the world Coin 220 00:12:35,039 --> 00:12:38,600 WLD token to venture capital giants A sixteen Z and 221 00:12:38,639 --> 00:12:42,000 in Bane Capital Crypto. Now, folks, this coin could do well. 222 00:12:42,240 --> 00:12:45,159 A lot of vcs backing it. AI is a huge narrative, 223 00:12:45,240 --> 00:12:47,159 So up to you if you want to take a bet. 224 00:12:47,200 --> 00:12:49,279 I personally don't hold it into my portfolio. And again 225 00:12:49,320 --> 00:12:51,960 I don't like the way they're going about it, but 226 00:12:52,279 --> 00:12:55,679 you know, my feelings is not what dictates markets. So 227 00:12:56,480 --> 00:12:58,639 I'm just letting you I mean transparent, right, I'm in 228 00:12:58,720 --> 00:13:00,759 my feelings a little bit here because of my own 229 00:13:00,759 --> 00:13:03,159 personal beliefs. But if you don't care about this and 230 00:13:03,159 --> 00:13:06,559 you want to invest, you could certainly do well. Here's 231 00:13:06,559 --> 00:13:09,480 a quote. The need of proof of human is becoming 232 00:13:09,559 --> 00:13:13,080 acutely clear with the acceleration of AI development, and we 233 00:13:13,200 --> 00:13:16,639 see this in the influx of enterprise traction. Seid Cosmo 234 00:13:16,720 --> 00:13:21,759 Gang penta Capital general partner, in a statement, So if 235 00:13:21,759 --> 00:13:24,840 you hold the WLD tokens, let me know, guys, leave 236 00:13:24,879 --> 00:13:26,879 the ether of your thoughts and comments in the comment 237 00:13:26,919 --> 00:13:30,159 section below. Now the bear market is taking its toll, 238 00:13:30,320 --> 00:13:32,600 and usually at the bottom of every bear market, you 239 00:13:32,639 --> 00:13:35,399 start to see a lot of bankruptcies and collapses. Many 240 00:13:35,399 --> 00:13:38,399 of you may recall FTX, and there have been others 241 00:13:38,440 --> 00:13:41,120 throughout the years, and we're starting to see that now. 242 00:13:41,159 --> 00:13:44,039 They're not as cataclysmic as what we saw back in 243 00:13:44,039 --> 00:13:46,879 twenty twenty two because that was such a really bad 244 00:13:47,679 --> 00:13:49,960 situation with to Gary Ginster, and they were allowing a 245 00:13:49,960 --> 00:13:51,840 lot of the bad activity to happen. I think they 246 00:13:51,879 --> 00:13:55,200 were trying to let the industry die on its own 247 00:13:55,240 --> 00:13:58,399 because of letting bad actors do your thing, like Sam 248 00:13:58,399 --> 00:14:02,200 Bang mcfreds with Alex Mashinski and others. So here we 249 00:14:02,240 --> 00:14:05,840 got news that institutional crypto trading platform lmax is exploring 250 00:14:05,879 --> 00:14:09,000 a sale or possibly an ipl. It looks like they're 251 00:14:09,000 --> 00:14:11,120 in a little bit of a trouble here. They're working 252 00:14:11,159 --> 00:14:15,919 with Morgan Stanley and investment bank KBW to assess their options. 253 00:14:16,919 --> 00:14:19,559 But at least they're not going bankrupt because we're seeing 254 00:14:19,559 --> 00:14:23,600 bankruptcy notices from Bitmark. Bitmark is closing down. I've never 255 00:14:23,679 --> 00:14:27,480 used them. You got storage Labs that they have filed 256 00:14:27,519 --> 00:14:30,320 for a chapter eleven bankruptcy, the fourth crypto company in 257 00:14:30,399 --> 00:14:34,840 seven days to announce a failure or wine down. You 258 00:14:34,919 --> 00:14:38,679 got Bitmex says they are shutting down their operations. May 259 00:14:38,720 --> 00:14:42,120 even you know this was started by Arthur Hayes and 260 00:14:42,639 --> 00:14:45,639 was the first to do crypto perpetuals if I'm not mistaken, 261 00:14:46,240 --> 00:14:50,080 And now they're shutting their doors. But guys, this is 262 00:14:50,120 --> 00:14:55,000 what happens usually in a business cycle, when you get 263 00:14:55,000 --> 00:14:57,639 into a bear market, you have companies that go out 264 00:14:57,639 --> 00:15:00,200 of business. So it's not unusual because this happened in 265 00:15:00,240 --> 00:15:02,519 every industry and many of you know, I've talked a 266 00:15:02,519 --> 00:15:05,000 lot about this over the years that with trad fin 267 00:15:05,080 --> 00:15:08,720 institutions coming in and launching crypto products ETFs and different 268 00:15:08,759 --> 00:15:11,960 investment vehicles and products, guess what, They're going to steal 269 00:15:12,000 --> 00:15:14,879 market share from these crypto exchanges. So these crypto exchanges 270 00:15:14,879 --> 00:15:18,320 didn't up their game, they would lose out and they 271 00:15:18,360 --> 00:15:20,840 would go out of business. I've said that many times, 272 00:15:21,159 --> 00:15:24,159 especially that these trade fid institutions, they have the brand 273 00:15:24,200 --> 00:15:27,480 name they have to trust already established, right, and they 274 00:15:27,519 --> 00:15:29,639 have the customer base they simply had to just push 275 00:15:29,720 --> 00:15:32,159 the product out. Right. You just look at Charles Schwab 276 00:15:32,240 --> 00:15:34,840 and all these guys coming in. They've got millions of 277 00:15:34,879 --> 00:15:37,559 customers and they just have to say, hey, look, you 278 00:15:37,799 --> 00:15:40,240 already invest with us, you know, to get your stocks, 279 00:15:40,240 --> 00:15:44,279 your ETFs, your bonds. Here's the crypto for you, and 280 00:15:44,320 --> 00:15:46,200 we'll take care of everything. You don't have to worry 281 00:15:46,200 --> 00:15:48,200 about it. We'll give you your statements. Here's the White 282 00:15:48,240 --> 00:15:52,000 Globe service, YadA YadA. Right, So we're starting to see 283 00:15:52,039 --> 00:15:55,960 that play out here. And these crypto exchanges and so forth, 284 00:15:56,080 --> 00:15:58,000 some of them are on the smaller side. They're not 285 00:15:58,120 --> 00:16:02,000 the level of finance or coinbase. They're starting to lose out. 286 00:16:02,039 --> 00:16:04,759 And again, and I'm not cheerleading this. I'm not happy 287 00:16:04,759 --> 00:16:06,960 about this. Are celebrating this. I'm just saying this is 288 00:16:07,000 --> 00:16:10,399 part of the business cycle. It's a natural, healthy thing 289 00:16:10,440 --> 00:16:13,440 that happens. Unfortunate people lose their jobs and so forth. 290 00:16:13,480 --> 00:16:16,679 But again, this is the nature of business, all right. 291 00:16:16,759 --> 00:16:20,919 Moving ahead, Brazilian farmers tokenize dairy cows to get loans 292 00:16:21,000 --> 00:16:25,759 bypassing bank lending limits. This is a microcosm of the 293 00:16:25,799 --> 00:16:29,720 future of the token economy. Folks with tokenized assets and 294 00:16:30,360 --> 00:16:34,399 DeFi so amazing to see how it's happening across the globe. 295 00:16:34,720 --> 00:16:38,559 Farmers in Pirana, Brazil, struggling to get banks to loan 296 00:16:38,679 --> 00:16:41,759 and cash, become the first to tokenize livestock and place 297 00:16:41,879 --> 00:16:46,399 ten dairy milk cows tokens for trade on the country's 298 00:16:46,440 --> 00:16:51,120 B three National Stock Exchange. They generated nearly twenty thousand 299 00:16:51,159 --> 00:16:54,799 dollars in credit backed by their cattle, signaling the potential 300 00:16:54,840 --> 00:16:59,000 of tokenizing RWAs as a financing tool. The dairy cow 301 00:16:59,080 --> 00:17:02,559 tokenization in Brazil is a role first and serves as 302 00:17:02,559 --> 00:17:05,680 a test in a real world scenario in which farmers 303 00:17:05,680 --> 00:17:10,039 are facing increasingly stringent lending limits imposed by local banks 304 00:17:10,359 --> 00:17:14,839 on small agriculture businesses. Again, folks, this is a microcosm 305 00:17:14,880 --> 00:17:18,079 on what's coming a lot of different assets that were 306 00:17:18,119 --> 00:17:23,119 not financialized before it can be financialized opening up new opportunities. Obviously, 307 00:17:23,519 --> 00:17:26,640 you have to make sure there is a third party 308 00:17:26,680 --> 00:17:30,000 auditing all these things. Well, do they indeed have the 309 00:17:30,359 --> 00:17:33,960 livestock they say they have, You know that they're tokenizing, right, 310 00:17:34,000 --> 00:17:36,480 so that it needs to be that auditing process. That's 311 00:17:36,519 --> 00:17:39,759 where I think banks and trad fi institutions will help 312 00:17:39,839 --> 00:17:43,519 facilitate that, because you're gonna have the custodian. You're gonna 313 00:17:43,559 --> 00:17:46,480 have to have the auditor to check in. Okay, they 314 00:17:46,480 --> 00:17:50,279 have the ten cows they tokenize is it actually seven 315 00:17:50,400 --> 00:17:52,960 or five right versus the ten? So this is where 316 00:17:53,440 --> 00:17:56,160 these infrastructure items are going to have to be set up. 317 00:17:56,200 --> 00:18:00,839 But clearly, clearly this is the path forward, and they're 318 00:18:00,839 --> 00:18:04,039 going to do it with real estate and other assets 319 00:18:04,119 --> 00:18:07,039 and eventually individuals. So let's say you have some rare 320 00:18:07,079 --> 00:18:10,400 collectibles a Michael Jordan Rookie card, the first Superman comic, 321 00:18:10,599 --> 00:18:11,839 you know what what I mean, things like it at 322 00:18:11,839 --> 00:18:14,400 first Spider Man comic. Whatever it may be that you 323 00:18:14,440 --> 00:18:16,240 want to tokenize that, well, you have to take it 324 00:18:16,279 --> 00:18:20,319 to a trusted institution and connected to an auditor and 325 00:18:20,359 --> 00:18:23,920 a custodian. They help you to tokenize it, and then 326 00:18:23,960 --> 00:18:26,519 you can put that thing on the market and start 327 00:18:26,559 --> 00:18:29,480 putting it to work. Obviously, these firms are going to 328 00:18:29,519 --> 00:18:31,960 take their cut as far as fees, but you can 329 00:18:31,960 --> 00:18:34,960 put that asset to work versus is just sitting in 330 00:18:35,000 --> 00:18:38,200 your safe, or it's sitting in your office, or whatever 331 00:18:38,200 --> 00:18:40,359 it may be. And I'm speaking from experience. I have 332 00:18:40,440 --> 00:18:42,920 some rare comics right behind me. For those of you 333 00:18:43,000 --> 00:18:46,519 watching in the video that are graded. So could I 334 00:18:46,559 --> 00:18:49,519 do something like this eventually? Absolutely right and put put 335 00:18:49,559 --> 00:18:52,559 those assets to work. So again this is a microcosm 336 00:18:52,599 --> 00:18:55,000 on what's to come. Now, this is some interesting news. 337 00:18:55,200 --> 00:18:59,160 Murray plans to turn crypto Exchange Corbett into something Korea 338 00:18:59,279 --> 00:19:04,400 hasn't seen before. The South Korean financial giants says it's Corbet, 339 00:19:04,720 --> 00:19:07,359 soon to be rebranded as digital X, is just a 340 00:19:07,480 --> 00:19:11,039 starting point for a broader ecosystem that connects RWA's stable 341 00:19:11,079 --> 00:19:15,279 coins and digital assets. So these financial institutions we're seeing 342 00:19:15,279 --> 00:19:18,960 a lot actually in Japan are now integrating with Crypto 343 00:19:19,000 --> 00:19:22,839 Exchange is acquiring them and looking to build a massive 344 00:19:22,960 --> 00:19:27,440 infrastructure company and provide infrastructure services. So here to details. 345 00:19:27,519 --> 00:19:30,759 Maray Asset has acquired Corbet and it plans for the 346 00:19:30,799 --> 00:19:33,880 exchange to go just beyond capturing Korean market share. It 347 00:19:33,960 --> 00:19:37,599 wants to build an intelligent investment platform. We plan to 348 00:19:37,680 --> 00:19:42,440 strengthen investor education and research capabilities and develop digital X 349 00:19:42,519 --> 00:19:46,680 into an intelligent investment platform where knowledge, information and in 350 00:19:46,799 --> 00:19:52,279 depth investment insights are organically connected. Maray rebranded Corbet as 351 00:19:52,319 --> 00:19:54,920 digital X as part of its broader vision for the 352 00:19:54,960 --> 00:19:59,680 exchange X. Here represents an uncharted future and a limitless 353 00:19:59,720 --> 00:20:04,440 popul stabilities created when different forms of value intersect and converge. 354 00:20:04,480 --> 00:20:07,960 The firm said, So, guys, I hope you see the 355 00:20:07,960 --> 00:20:11,160 infrastructure that's being built across the globe. Crypto is a 356 00:20:11,160 --> 00:20:15,000 global asset class blockchain runs twenty four to seven across 357 00:20:15,079 --> 00:20:18,240 the globe, So we're seeing incredible adoption. All right, folks, 358 00:20:18,279 --> 00:20:20,279 that's the news. Let me know what you think, especially 359 00:20:20,279 --> 00:20:23,200 about the Clarityact news, and it could be a very 360 00:20:23,359 --> 00:20:27,160 very interesting week next week. Remember they're looking to pass 361 00:20:27,200 --> 00:20:29,960 this thing on the week of August third. And if 362 00:20:29,960 --> 00:20:33,000 that doesn't happen, good President Trump canceled the August recess. 363 00:20:33,119 --> 00:20:35,279 Let me know what you guys think. Leave your thoughts 364 00:20:35,319 --> 00:20:37,839 and comments below, hit the thumbsup button subscribe if you 365 00:20:37,960 --> 00:20:41,160 haven't as yet, Please support the podcast by subscribing to 366 00:20:41,200 --> 00:20:44,279 my free email newsletter. It's one hundred percent free. Link 367 00:20:44,279 --> 00:20:46,960 will be in a description. Check out my book on Amazon. 368 00:20:47,000 --> 00:20:49,359 It's available in paperback and digital. And if you want 369 00:20:49,400 --> 00:20:52,200 to expand your knowledge about crypto and blockchain tech, check 370 00:20:52,240 --> 00:20:55,279 out my course at Mycrypto course dot com. It's a 371 00:20:55,319 --> 00:20:57,680 comprehensive course that teaches you everything you need to know 372 00:20:57,680 --> 00:21:00,279 about crypto folks. Thank you so much for tung in. 373 00:21:00,480 --> 00:21:03,519 I appreciate you all, and I'll talk to you all later. 374 00:21:10,559 --> 00:21:17,519 H m hm hm