Speaker 1: Hey everyone, welcome into the Thinking Crypto podcast. You're home
Speaker 1: for cryptocurrency news and interviews. I'm your host, Tony Edward.
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Speaker 1: was a big newsday for crypto. Lots of incredible statements
Speaker 1: coming from folks of notoriety. So first up, United States
Speaker 1: Indo Pacific Commander Admiral Samuel Paparo advises the Senate that
Speaker 1: bitcoin shows incredible potential as a computer science tool. Here's
Speaker 1: a quote. Bitcoin is a reality. It is a valuable
Speaker 1: computer science tool. As a power projection.
Speaker 2: To another subject, our competition with China isn't just about
Speaker 2: military strength. That also includes strength as well. You know
Speaker 2: last year, the Chinese comments party's main money Teria think
Speaker 2: tank published research on bitcoin as a strategic asset. You
Speaker 2: know this came after President Trump moved to establish a
Speaker 2: strategic bitcoin reserve. Admiral how does leadership in bitcoin impact
Speaker 2: leverage resilience? To Terrence for indopay com against China, and
Speaker 2: do you think that a strategic bitcoin reserve helps America
Speaker 2: compete against China?
Speaker 3: Center our You know, our research into bitcoin is as
Speaker 3: a computer science tool. It's the combination of cryptography, a blockchain,
Speaker 3: and a proof of work. And bitcoin shows incredible potential
Speaker 3: as a as a computer science tool that through the
Speaker 3: proof of work protocols is a actually imposes more cost
Speaker 3: than just the algorithmic securing of networks and our ability
Speaker 3: to operate. And bitcoin is a reality. It is a
Speaker 3: valuable computer science tool as a pro power projection, and
Speaker 3: outside of the economic formulation of it, it has got
Speaker 3: really important computer science applications for cybersecurity.
Speaker 2: Thank you. What recommendations do you have for us? You're
Speaker 2: in Congress on how to how the US can lead
Speaker 2: on bitcoin competition.
Speaker 3: You know, I have to go deeper on that with
Speaker 3: you for the record, and I can go deeper on
Speaker 3: that case. But bitcoin is a reality. It is a
Speaker 3: peer to peer, zero trust transfer of value. Anything that
Speaker 3: supports the all instruments of national power for the United
Speaker 3: States of America is to the good.
Speaker 2: Thank you. I'll have to go back and listen to
Speaker 2: that answer to kind of cipher it. Most of us
Speaker 2: enter your way over, are it.
Speaker 1: These are incredible statements from an admiral. This is not hearsay.
Speaker 1: This is straight from the horse's mouth in front of
Speaker 1: the United States Senate. So these statements carry a lot
Speaker 1: of weights. Now, I recently interviewed the White House crypto
Speaker 1: advisor Patrick Witten. Many of you may have seen that interview,
Speaker 1: and he talked about the Strategic Bitcoin Reserve that we
Speaker 1: are weeks away from a major update there. So could
Speaker 1: this be the start of the conversation or the narrative
Speaker 1: leading up to that big announcement, because I do believe
Speaker 1: there's a geopolitical battle for control of crypto, bitcoin and
Speaker 1: blockchain technology happening between the United States, China, and other
Speaker 1: world superpowers. And we know the United States is looking
Speaker 1: to establish the digital assets stockpile, you know, the bigcoin Reserve. Obviously,
Speaker 1: get the Clarity Act passed, We've got the Genius Act
Speaker 1: already passed. So the United States is trying to get
Speaker 1: into that driver's seat and take full control. And President Trump,
Speaker 1: of course, is fully on board, and he's made his
Speaker 1: statements many times. Scott bessen't as well. A lot of
Speaker 1: folks within the administration have came out and said, you know,
Speaker 1: we're looking to be the leader here. So huge statements,
Speaker 1: and we could see again this narrative carryover to getting
Speaker 1: that strategic Bitcoin reserve fully established where it's not just
Speaker 1: the bigcoin we've confiscated the United States government that is
Speaker 1: that's in the stockpile, but how can they buy over
Speaker 1: time and in a revenue neutral way. So very very
Speaker 1: interesting and huge statements from the admiral here. Now even
Speaker 1: more big statements about crypto. Kevin worsh who's Trump's fetcher nominee,
Speaker 1: he said today that crypto is now part of the
Speaker 1: US financial system. Huge statements coming from the incoming Fetchair. Look,
Speaker 1: we know he's going through the confirmation and I think
Speaker 1: he's going to get it. He's going to replace Jerome Powell,
Speaker 1: of course, so these are huge statements. And most recently
Speaker 1: he disclosed that he's invested in crypto along with other assets.
Speaker 1: So he gets it, he's invested in it, and he
Speaker 1: sees digital assets as part of the financial system. Let
Speaker 1: me play the clip for you. Senator Cynthia Lummis asks
Speaker 1: him a question and he responds.
Speaker 4: To believe that digital assets should be incorporated into our
Speaker 4: financial industry, so Americans have new investment opportunities and consumer
Speaker 4: protections center.
Speaker 3: Digital assets are already part of the fabric of our financial
Speaker 3: services industry in the United States.
Speaker 1: Yes, so notice he said, it's part of the fabric
Speaker 1: of the United States financial system. Huge statement. I couldn't
Speaker 1: imagine a FED chair saying something like this, you know,
Speaker 1: when I got into crypto. So it's amazing how things
Speaker 1: have changed. And look, We've talked a lot about it
Speaker 1: over the years. I've said many times the future capital markets, economies,
Speaker 1: and governments will all run on blockchain rails. And I'm
Speaker 1: not just talking about the United States. It's global, right.
Speaker 1: We are seeing the blockchain rails being set up across
Speaker 1: the globe for institutions, bank stock exchange in the move
Speaker 1: to go twenty four to seven have truly liquid markets,
Speaker 1: instance settlement, and a truly global reach. So that is
Speaker 1: the end goal. That's where the puck is heading. So
Speaker 1: huge statements here from the incoming FED chair.
Speaker 3: Now.
Speaker 1: Kevin Warsh also talked about CBDCs. He committed to Senator
Speaker 1: Bernie Moreno that he won't have the FED move forward
Speaker 1: or move towards a CBDC, a central bank digital currency,
Speaker 1: if he's confirmed and it's within his power as chairman
Speaker 1: to do so. He also said he agrees that the
Speaker 1: FED does not have the right to issue a CBDC
Speaker 1: and it would be a bad policy choice. Now, guys,
Speaker 1: I was born at night, but I wasn't born last night,
Speaker 1: and we need the actual law put into place because
Speaker 1: people can change their minds. I'm not going to take
Speaker 1: any public officials word as gospel. I need to see
Speaker 1: the actions. So the Anti CBDC Act has not passed
Speaker 1: as yet. It was supposed to be in the Defense
Speaker 1: spending bill. It did not make it through, and there
Speaker 1: are efforts to try to get it past this year.
Speaker 1: But I think all efforts have been on the Clarity Act, rightfully,
Speaker 1: so to get that situation resolved, and then I think
Speaker 1: they're going to try to push the CBDC or anti
Speaker 1: CBDC bill through this year. But we got to make
Speaker 1: sure we stay on top of that because I don't
Speaker 1: care what politicians say. A politicians lie. I'm not saying
Speaker 1: Kevin Walsh is lying. I'm just saying, as a rule
Speaker 1: of thumb, right, we know how the politics game is played,
Speaker 1: how it operates. So if you don't know, this is
Speaker 1: your wake up call. You need to keep a politicians accountable.
Speaker 1: They work for us, we the people. So this is
Speaker 1: where I like what Kevin Walsh is saying. But get
Speaker 1: that anti CBDC Act pass or it's all just smoke
Speaker 1: and mirrors. Now, speaking of legislation, this morning, Representative Young
Speaker 1: Kim and Representative Sam Lecardo unveil the Bipartisan Pace Act
Speaker 1: to creating National Payments License for FinTechs and crypto companies.
Speaker 1: The bipartisan bill would let regulated state depository institutions and
Speaker 1: credit unions that conduct money transmission be regulated under a
Speaker 1: new optional framework overseen by the OCC. The bill would
Speaker 1: permit these institutions to access Federal Reserve payment services, aligning
Speaker 1: with the Federal Reserve Governor Christopher Waller's skinny Master accounts concept,
Speaker 1: which Kracking gained access to earlier this year crack in
Speaker 1: the Crypto Exchange. Of course, the bill also gives the
Speaker 1: Federal Reserve Board and not the individual Reserve banks, final
Speaker 1: decision making authority over skinny Master account applications. So you're
Speaker 1: seeing the decentralization of the Fed Master account here. Going
Speaker 1: to crypto companies and smaller fintech companies as well, which
Speaker 1: is great. It takes a lot of power away from
Speaker 1: these bigger banks, and you know these bigger banks don't
Speaker 1: like that. But look, disruptions here, This technology is here,
Speaker 1: it's not going away, and there's a big change happening.
Speaker 1: So pretty incredible and this will certainly change the whole
Speaker 1: mechanism of how these skinny master accounts are regulated with
Speaker 1: the States and the FED and much more so. Very
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Speaker 1: Sofi Bank announced they are adding support for XRP. This
Speaker 1: follows their listing of bitcoin. Ethan Solana I've often stated,
Speaker 1: it starts a bitcoin and they will go down the list.
Speaker 2: Right.
Speaker 1: It happened with et apps, It's happening with the listing
Speaker 1: or a spot trading that's integrated on these banks and
Speaker 1: different traditional financial companies. So it's incredible. Sofi Bank offering
Speaker 1: crypto and they've also launched their own stable coin. So guys,
Speaker 1: I hope you see what's happening here and again the
Speaker 1: on rams being set up by these big institutions, and
Speaker 1: it's happening globally. So when we enter into the next
Speaker 1: bull cycle and we get crypto legislation pass, what do
Speaker 1: you think is going to happen. I think it's a
Speaker 1: super cycle. I think we're going to see a very
Speaker 1: powerful bullmarket, huge bull runs, and it's not going to
Speaker 1: be just a one time thing. I think it continues.
Speaker 1: Look at how the Internet itself had many bull runs, right,
Speaker 1: and different phases of the technology Web one, Web two,
Speaker 1: and so on and so forth. So very very cool. Now,
Speaker 1: speaking of XRP, Ripple unveils a multi phase roadmap to
Speaker 1: make the XRP ledger quantum resistant by twenty twenty eight.
Speaker 1: This includes a quantum day contingency plan and collaboration with
Speaker 1: Project eleven for early testing. So all blockchains are going
Speaker 1: to be doing this. This is why I've been saying
Speaker 1: the quantum headlines and fudd is just fud.
Speaker 4: Right.
Speaker 1: Quantum tech is not at a level where it can
Speaker 1: take down blockchains yet, but it could. It will get there.
Speaker 1: I'm not saying it won't ever. I'm just saying at
Speaker 1: the point where we're at right now, it's just a
Speaker 1: narrative by many short sellers to you know, push the
Speaker 1: price of crypto down because they're shorting because notice at
Speaker 1: one one hundred and twenty six thousand dollars, what was
Speaker 1: it like five months before, right, nothing about quantum. Then
Speaker 1: the price goes down also in quantum. This that I
Speaker 1: hope you understand how the game is played here. So
Speaker 1: narrative follows price, and there will be a day where
Speaker 1: these blockchain technologies and companies they will have to be
Speaker 1: quantum ready. And it's great to see ripple zu net
Speaker 1: with the XRP ledger, but they're not the only ones.
Speaker 1: Bitcoin miners will have to do it at the ethereums,
Speaker 1: a lot of folks. Everybody's going to have to do that.
Speaker 1: And even Coinbase they announce their advisory board says quantum
Speaker 1: computing threat is on the horizon. Crypto needs to plan.
Speaker 1: So the fifty page paper includes that while today's blockchains
Speaker 1: remain secure, a future fault tolerant quantum computer capable of
Speaker 1: breaking widely used encryption is increasingly plausible and preparation must
Speaker 1: begin now. So I believe again all blockchain folks will
Speaker 1: update their nodes, their minors, and whatever mechanism they're using
Speaker 1: to be quantum resistant. Now, if quantum is going to
Speaker 1: be a risk to blockchain guys, we're going to have
Speaker 1: bigger problems because that means they will be able to
Speaker 1: take down the financial system, the traditional financial system, the
Speaker 1: air traffic control system, the energy electricity system. Right, those
Speaker 1: will be at bigger risk. So don't get too caught
Speaker 1: up in the hype of oh my god, quantum computing,
Speaker 1: it's going to destroy crypto. Man, if it can destroy
Speaker 1: crypto with these blockchains that are using cryptography and you know,
Speaker 1: incredibly secure mechanisms and protocols, what do you think it's
Speaker 1: going to do to our world and our civilization. So
Speaker 1: as long as these folks upgrade their technology and use
Speaker 1: the same quantum tech right to run to power their
Speaker 1: servers and their networks and so forth, they'll be fine.
Speaker 1: So just make sure you have a balanced outlook on this.
Speaker 1: But it's great to see blockchain projects, exchanges and much
Speaker 1: more are prepping for this now. On the news of Coinbase,
Speaker 1: niam niun taps Coinbase to add USDC into global payments network.
Speaker 1: So Singapore fintech Nium has selected Coinbase to integrate USDC
Speaker 1: payments into its global network to send, receive, and convert
Speaker 1: stable coins to FIAT across more than one hundred and
Speaker 1: ninety countries through a single platform. According to a Tuesday announcement,
Speaker 1: the integration uses coinbases infrastructure for custody, liquidity and wallet services,
Speaker 1: enabling Nium's customers to fund cross border payments in USDC
Speaker 1: and settle in either stable coins or local currencies. So
Speaker 1: two major takeaways. One, Coinbase doing an amazing job with
Speaker 1: their services. They're getting partnerships and all types of deals
Speaker 1: across the globe. Second, fintech companies, banks and much more
Speaker 1: integrating stable coins right and blockchain tech and crypto. It's
Speaker 1: amazing to see this type of adoption from these startups
Speaker 1: and even the folks who've been around for a long time,
Speaker 1: the legacy, and they all are getting on board. Okay,
Speaker 1: final news item, Polymarket to launch twenty four to seven
Speaker 1: perpetual futures training for crypto equities and commodities. So the
Speaker 1: prediction markets here getting involved in crypto. You know there's
Speaker 1: gonna be some cannibalization here. We'll see how it all
Speaker 1: works out. Don't get me wrong. Competition is healthy for
Speaker 1: the market. It's good to have competitors because that's very
Speaker 1: good for the consumer and us as investors. But you know,
Speaker 1: in this race, there's gonna be a lot of saturation
Speaker 1: here and eventually there's going to need to be consolidation.
Speaker 1: But incredible to see the race of innovation and building.
Speaker 1: I love it. I love it, guys, And as I
Speaker 1: keep saying, I hope you're seeing the bigger picture, the
Speaker 1: infrastructure on rams being set up here for more capital,
Speaker 1: more adoption, and that's going to lead to higher prices.
Speaker 1: I know many of you are going to look at
Speaker 1: the charts in coin market cap and say, Tony, are
Speaker 1: you nuts? Look at the price right. Markets move in cycles,
Speaker 1: so make sure you have that mac long term view
Speaker 1: and you are being patient. You're looking at what's being built. Obviously,
Speaker 1: you want to be smart in what your entries. You
Speaker 1: don't buy pumps and the tops of the markets. You
Speaker 1: want to buy when there's blood on the streets, when
Speaker 1: there's fear, to give yourself the better chance of making
Speaker 1: an incredible return. So, folks, that's the news. Let me
Speaker 1: know what you think. Leave your thoughts and comments below,
Speaker 1: hit the thumbsup button subscribe if you haven't as yet.
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Speaker 1: I appreciate you all and I'll talk to you all later.
Speaker 1: H h m hmmm h