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Speaker 1: just jump right into it today. This is going to
Speaker 1: be something that unfortunately maybe coming to head in reference
Speaker 1: to clarity and will it fail, because we are at
Speaker 1: that point right now, guys. As you guys know, this
Speaker 1: is the week for all of this to either happen
Speaker 1: or not happen. I have some inside information that is
Speaker 1: now giving us a little bit of a direction on this.
Speaker 1: Want to do a quick podcast to kind of give
Speaker 1: you an update on it, and let's just get going,
Speaker 1: all right. So a couple of points I want to
Speaker 1: hit on first that really kind of go into the
Speaker 1: whole concept of what's really happening in DC right now.
Speaker 1: And it is boiling down to the Senate Democrats and
Speaker 1: they are in a rooted out position right now in
Speaker 1: terms of blocking the Clarity Act. So the likelihood of
Speaker 1: a cloture vote getting across the line is probably the
Speaker 1: lowest that I have seen so far, and from some
Speaker 1: of the people that I'm talking to this afternoon, a
Speaker 1: Senate floor cloture vote on Clarity is I think set
Speaker 1: to fail, and this is coming from a unified block
Speaker 1: of Senate Democrats. We're also looking at political donations and
Speaker 1: pack influence that basically have no impetus anymore. There's just
Speaker 1: nothing that's moving the needle right now. I'm also seeing
Speaker 1: quite a bit of negativity coming out of the traditional
Speaker 1: crypto x and that of course has been coming from
Speaker 1: some of the big proponents out there. Brian Armstrong just
Speaker 1: recently tweeted the issue of let's try to get this
Speaker 1: across the line, and again it's kind of a last
Speaker 1: ditch effort. Remember, Republicans hold a fifty three seed majority
Speaker 1: in reference to this, and they all they need is
Speaker 1: at least seven to nine Democrats that would cross over,
Speaker 1: and that would be if they don't lose any seats.
Speaker 1: Right now, we are seeing Senator Lambis talk about retrying
Speaker 1: to retain those seats, so that in itself could be
Speaker 1: huge around actual Republicans defecting late in the game. And
Speaker 1: even when you look at the previous Democrat supporters from
Speaker 1: the Banking Committee, and that includes Diego, also Brooks that
Speaker 1: are also Brooks, they've also signaled a signaled that the
Speaker 1: latest drafts still remain insufficient. And that's the problem that
Speaker 1: we are facing right now, is that this cloture vote
Speaker 1: is getting further and further away. Remember that banking has
Speaker 1: been pretty much the primary situation that has pushed back
Speaker 1: against this, and if you look at just the Senate
Speaker 1: Banking Panel and how it passed the Clarity Act going
Speaker 1: into the Senate, it was fifteen to nine, and there
Speaker 1: was still quite a bit of pushback that was coming in.
Speaker 1: And I think the point has now expanded much more
Speaker 1: definitive to just stable coin yields. Hear me talk about
Speaker 1: this all the time, is the ethics conflict. But now
Speaker 1: illicit finance is starting to creep in. In the last
Speaker 1: week of the Clarity Act, possibility here and if ilicit
Speaker 1: finance is starting to make its way in, this is
Speaker 1: one of those things that I think will draw in
Speaker 1: a lot of attention, especially from both Republicans and Democrats,
Speaker 1: that will make it feel as though they did something
Speaker 1: that helped the American people, when in reality, this is
Speaker 1: not helping the American people. Now, remember the ethics and
Speaker 1: conflict of interest safeguards that were pretty much laid out.
Speaker 1: The demands that were put on the Trump administration was
Speaker 1: executive branch officials, including lawmakers and their immediate families would
Speaker 1: be restricted from holding or promoting any kind of private
Speaker 1: token ventures that I think has been agreed to. The
Speaker 1: other key friction was the compromises around these blind trusts.
Speaker 1: And I'm not sure to what extent the language has
Speaker 1: moved into this, but what I'm hearing is there's a
Speaker 1: lot more sensitivity around this because the Senate Democrats see
Speaker 1: this as a very heavy loophole area that could be
Speaker 1: sidestepped again by this administration. And the point behind illicit finance,
Speaker 1: which is where we get into the aml side of things,
Speaker 1: anti million laundering, this of course is you know Senator Warren,
Speaker 1: She's been the champion of this forever and I think
Speaker 1: she is now starting to make her way in Her
Speaker 1: and Mark Warner both are arguing against that the text
Speaker 1: basically lacks the requirement for this secondary intermediaries. That is
Speaker 1: the problem that they are facing right now, and it's
Speaker 1: starting to show up in a handful of Democrat lawmakers
Speaker 1: and much of their staffers that are now hearing from
Speaker 1: is that this looks like the friction is not going
Speaker 1: to be overcome. This puts a lot of pressure on
Speaker 1: them trying to get this done before the end of
Speaker 1: the week. And I do not think at the current state,
Speaker 1: unless there is a breakthrough, a last minute breakthrough, that
Speaker 1: we see anything of this type making it to the
Speaker 1: floor for a vote. So that's where we are right now. Guys.
Speaker 1: This is unfortunate that we are bringing you this news
Speaker 1: because I think when you look at the pack money
Speaker 1: and what the shift is right now for what fair
Speaker 1: Shake was trying to do, really repositioning, I just wonder
Speaker 1: if we're going to see a reformat of how much
Speaker 1: of the crypto lobbies will be going into the midterms.
Speaker 1: And I think the voter based dynamics are really going
Speaker 1: to start to change as well, because this is going
Speaker 1: to get into a hardline stance against unregulated yields, which
Speaker 1: many people will now know that's going to be out there,
Speaker 1: because if we don't get this passed, the yield play
Speaker 1: is still intact, and most of these organizations are doing it,
Speaker 1: you know, kind of without any kind of guid guide rails,
Speaker 1: and that of course puts everything on the SEC and
Speaker 1: the CFTC to get this thing moving forward. Other thing
Speaker 1: is that I think we're going to continue to see
Speaker 1: the prediction market collapse. And this is in reference to
Speaker 1: this itself. So the odds are continuing to fall. We'll
Speaker 1: most likely see this drop under twenty percent, maybe within
Speaker 1: the next twenty four hours. So these stalls are happening,
Speaker 1: and it looks as though it is increasing, even though
Speaker 1: some of the outreach that is coming through DC right
Speaker 1: now is coming from different people. So I'm going to
Speaker 1: try to cover more on this. I've been back and
Speaker 1: forth with DC a couple of times today just in
Speaker 1: reference to who is seeing certain senators and certain lawmakers
Speaker 1: making any kind of last ditch effort, and it does
Speaker 1: not appear as though they are. So the banks may
Speaker 1: have won guys on this one. So prepare for something
Speaker 1: unless we get a breakthrough, and I think the breakthrough
Speaker 1: will come in the ethics provision self stay tuned for
Speaker 1: that