WEBVTT

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<v Speaker 1>New details are coming out about the Federal Reserve removing

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<v Speaker 1>restrictions around banks being able to participate in crypto. We

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<v Speaker 1>got members of Congress weighing in and much more. And

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<v Speaker 1>today was the third SEC Roundtable and new SEC Chair

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<v Speaker 1>Paul Atkins spoke there. I'll share what he had to say.

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<v Speaker 1>And you won't believe what the NASDAC sent to the

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<v Speaker 1>SEC about crypto regulations. This is huge. Let's get into it. Hey, everybody,

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<v Speaker 1>welcome into the Thinking Crypto podcast, your home for cryptocurrency

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<v Speaker 1>news and interviews. I'm your host, Tony Edward. On your

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<v Speaker 1>way in. Please let that subscribe button as well as

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<v Speaker 1>a thumbs up button and leave a comment below. If

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<v Speaker 1>you're listening on a podcast platform such as Spotify or Apple,

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<v Speaker 1>please leave a five star rating and review. Folks, we

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<v Speaker 1>got to talk about bitcoin because it is currently trading

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<v Speaker 1>over ninety five thousand dollars. So this strong bullish rally

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<v Speaker 1>is continuing, and as we've been discussing, bitcoin has reclaimed

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<v Speaker 1>a two hundred day moving average. It's clearly above it

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<v Speaker 1>and that's very good, guys, and the RSI shows there's

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<v Speaker 1>a bit of room for it to keep going up,

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<v Speaker 1>but it will hit the overbought zone very soon, so

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<v Speaker 1>expect a bit of a pullback and it could go

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<v Speaker 1>down and test certain lows, or it could just do

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<v Speaker 1>a small pullback bill support and then keep moving up.

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<v Speaker 1>So remember nothing goes up any straight line. But we

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<v Speaker 1>are seeing signs of strength. This is very good global

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<v Speaker 1>liquidity surging, the dxys crashing, even the stock market is

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<v Speaker 1>starting to recover, so good signs all around. But here

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<v Speaker 1>it's some very very bullish data, folks. I often share

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<v Speaker 1>with you what whales are doing using on chain data

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<v Speaker 1>from Saniment that's a partner of the Channel. And while

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<v Speaker 1>it's of ten or more, Bitcoin just saw a massive spike. Guys.

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<v Speaker 1>If you look at this chart, we saw a slow,

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<v Speaker 1>steady rise happening over the past three weeks, then all

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<v Speaker 1>of a sudden, huge spike. Whales are bullished 'or anticipating

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<v Speaker 1>higher prices, and this is one of the bigger spikes

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<v Speaker 1>we've seen in looking at this data. So this is

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<v Speaker 1>very telling, and we're going to wash this closely because

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<v Speaker 1>once they start taking profits, that's when we want to

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<v Speaker 1>pay attention. These are the guys that move the market,

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<v Speaker 1>and we're going to want to take profits ourselves. So

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<v Speaker 1>make sure you have a profit taking plan. But this

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<v Speaker 1>is a very bullish signal. The whales are anticipating higher prices,

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<v Speaker 1>so we could be seeing, guys, what I've been saying

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<v Speaker 1>for a while. The seasonality wise, this is a time

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<v Speaker 1>the market's usually rally in a bull market, and it's

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<v Speaker 1>also for the stock market, not just for crypto. And

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<v Speaker 1>then you have all the macro factors like global liquidity

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<v Speaker 1>and all these things in crypto legislation, huge adoption news,

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<v Speaker 1>and we could see Bitcoin and all coins start to

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<v Speaker 1>hit new highs come to the beginning of June, and

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<v Speaker 1>then we'll see what the summer brings, because usually there's

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<v Speaker 1>a sell and may go away seasonality type of action

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<v Speaker 1>price action, so we'll see things could be different, But

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<v Speaker 1>I like what I'm seeing here, guys. As we wrap

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<v Speaker 1>up April and into May, May could be a really

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<v Speaker 1>strong month. If you go back and look at the charts,

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<v Speaker 1>when we saw the majority of our gains in Q four,

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<v Speaker 1>it was at in November and then a little bit

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<v Speaker 1>into December, so literally about just about a month time.

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<v Speaker 1>So May could bring us those gains and then come

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<v Speaker 1>June we start to see the pullback. So that's how

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<v Speaker 1>fast this thing can move, So don't be surprised by

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<v Speaker 1>how quickly it does move. Just to have your cash

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<v Speaker 1>out plan and your price points you're going to take

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<v Speaker 1>profit at. And of course I'll be sharing when I'm

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<v Speaker 1>taking profits, and I'll be sharing the different on chain

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<v Speaker 1>metrics and different stats for us to validate where we're

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<v Speaker 1>at in the market, because we don't want to move

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<v Speaker 1>by emotions. We want to use the data, folks. All right,

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<v Speaker 1>let's jump into some news. Yesterday I told you guys

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<v Speaker 1>about the Federal Reserve withdrawing restrictions that would prevent banks

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<v Speaker 1>some fully participating in crypto. I told you guys, that

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<v Speaker 1>was massive, huge news because you have the head of

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<v Speaker 1>the snake to FED making the ultimate call. We've got

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<v Speaker 1>guidance from the OCC the FDIC both had loosened up restrictions.

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<v Speaker 1>We got the repeala one two one. But until the

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<v Speaker 1>Federal Reserve, which controls all the banks, which controls the currency,

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<v Speaker 1>gives the okay, we're not going to have full on

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<v Speaker 1>adoption from these banks. Well, a bunch of different facts

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<v Speaker 1>and information was revealed today folks analyzing this. But first,

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<v Speaker 1>the US Senate Banking Committee GOP the Chairman. Senator Tim

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<v Speaker 1>Scott said he applauds the Federal Reserve for following the

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<v Speaker 1>OCC and the FDIC and taking the much needed action

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<v Speaker 1>to rescind harmful biden error guidance that reduce access to

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<v Speaker 1>financial services for the digital asset industry. So good to

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<v Speaker 1>see this is getting endorsement from members of Congress, especially

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<v Speaker 1>the Senate Banking Committee, and even on CNBC this morning

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<v Speaker 1>they had a segment discussing the FED loosening this up,

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<v Speaker 1>Andrew Ross, Sorkin and Becky Quick talking about this. So

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<v Speaker 1>this is significant. Once again, guys, it's coming from the FED,

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<v Speaker 1>and that's the king of the hill here, right. Even

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<v Speaker 1>the President is not more powerful than the Fed here

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<v Speaker 1>when it comes to the economy and the finances and

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<v Speaker 1>much where. That's why you see Trump trying to pressure

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<v Speaker 1>Jerome Powell to cut rates and much more. The FED,

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<v Speaker 1>even though it's not a government entity. Go do your

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<v Speaker 1>research and there read the book The Creature from Jackal

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<v Speaker 1>Island and you understand how powerful this entity is. So

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<v Speaker 1>if they're giving the green light to the banks, this

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<v Speaker 1>is pretty big. However, Senator Cynthia Lummis weighed in, and

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<v Speaker 1>not only her, but also Kaitlyn Long, founder of Custodia Bank,

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<v Speaker 1>Senator Lummis says the Federal Reserves actions yesterday with drawing

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<v Speaker 1>crypto guidance are just lip service. She says, here's why

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<v Speaker 1>the FED continues to illegally flout the law on master accounts.

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<v Speaker 1>Now here's the thing. I don't think that's just lip service.

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<v Speaker 1>I think they removed about eighty percent of the restrictions,

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<v Speaker 1>but there's a further twenty percent. So I don't think

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<v Speaker 1>this is an accurate statement. Because even though Custodia Bank

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<v Speaker 1>is getting blocked, and Caitlyn Long and you know, they're

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<v Speaker 1>all in Wyoming, so I understand why she's doing this,

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<v Speaker 1>But make no mistake about it, this was a big

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<v Speaker 1>move for crypto. But let me continue here. She says,

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<v Speaker 1>unlike the OCC and FDIC, the FED still uses reputation

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<v Speaker 1>risk in bank supervision. The policy statement on section nine

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<v Speaker 1>to one three hasn't been withdrawn, which says bitcoin and

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<v Speaker 1>digital assets are unsafe and unsound. Lastly, but certainly not least,

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<v Speaker 1>the FED staff behind Operation Choke point two point zero

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<v Speaker 1>are the same people still working on the crypto issues today.

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<v Speaker 1>So the last point, I don't really think is a

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<v Speaker 1>big deal because they were just following the instructions of

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<v Speaker 1>the Biden administration and Elizabeth Warren. Right, the people who

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<v Speaker 1>are in control are going to call the shots, and

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<v Speaker 1>these people just have to follow those orders. However, now

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<v Speaker 1>the Trump's in office, they're following different orders, right, So

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<v Speaker 1>I don't think that's a big deal. But I think

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<v Speaker 1>why Senator Lummis is coming out so heavy handed on

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<v Speaker 1>this is because she's in Wyoming. She supports Kitlyn Long

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<v Speaker 1>and Custodia Bank, and so do I am not saying

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<v Speaker 1>anything wrong with that, but make no mistake about it,

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<v Speaker 1>this move by the FED is huge. Even though it's

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<v Speaker 1>not one hundred percent, I think it's at least eighty percent.

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<v Speaker 1>And Kitlyn to weighed in saying, I just noticed the

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<v Speaker 1>FED didn't rescind it's January twenty seven to twenty twenty

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<v Speaker 1>three anti crypto guidance, which the board voted seven to

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<v Speaker 1>zero to approve at the time, but it appears to

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<v Speaker 1>have rescinded all other guidance it issued without a board vote.

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<v Speaker 1>I think this means the FED didn't yet comply with

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<v Speaker 1>Trump's executive order. She asked, you know, she's not too

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<v Speaker 1>sure on that, she says, so the FED anti crypto

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<v Speaker 1>guidance is still in place, which means FED regulated banks

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<v Speaker 1>are disadvantage versus OCZ versus FDIC regulated banks for stable

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<v Speaker 1>coins and other activities. The Stable Point Bill, when it

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<v Speaker 1>becomes law, would overturn this, but it ain't over yet,

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<v Speaker 1>so it could be the FED is waiting for a

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<v Speaker 1>legislation from Congress. I don't know, but the Fed did

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<v Speaker 1>make a big move here, which I think is bullish

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<v Speaker 1>for a lot of banks. But to Caitlyn's point, there's

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<v Speaker 1>still a portion that needs to be figured out here.

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<v Speaker 1>But overall, guys, we've come a far away. We're we're

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<v Speaker 1>moving in the right direction. And let's see if Kaitlin

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<v Speaker 1>and Senator Lemis are able to put some pressure and

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<v Speaker 1>maybe get this done. Or the FED is just going

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<v Speaker 1>to say, hey, we're waiting for Congress past the Sleabaclin

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<v Speaker 1>and Market Structure Bill and we're good to go. It

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<v Speaker 1>could just be simple as that. But guys, all the

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<v Speaker 1>major agencies, all the folks who are you know, working

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<v Speaker 1>against crypto are now working for crypto. Operation choke point

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<v Speaker 1>two point zero is shut down. Uh, the SA one

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<v Speaker 1>two one rule from the sec shut down repealed. Actually,

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<v Speaker 1>and even the I R S D five broker rule,

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<v Speaker 1>you know that was repealed. That was actually the first

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<v Speaker 1>crypto bill of President Trump signed into laws. So, guys,

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<v Speaker 1>I hope seeing a bullish setup that's happening here. And

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<v Speaker 1>while the tea's need to be crossed and the eyes

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<v Speaker 1>need to be dotted, removing in the right direction. Now, folks,

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<v Speaker 1>quick word from our sponsor, and that is Propy. Propy

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<v Speaker 1>is leading the charge and putting real estate on chain. Guys,

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<v Speaker 1>we all know tokenization is the future of finance, as

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<v Speaker 1>Larry Fink, Black Rock CEO said, and the real estate

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<v Speaker 1>asset class will be going on chain. And Propy has

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<v Speaker 1>been leading to charge since like twenty eighteen. When I

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<v Speaker 1>first learned about Propty, I invested in the Propy token.

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<v Speaker 1>So I'm a property token holder and this is going

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<v Speaker 1>back twenty eighteen and they are licensed Web three Pioneer.

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<v Speaker 1>They've been operating since twenty seventeen. They've facilitated over four

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<v Speaker 1>billion dollars in transactions. They've put titles and deeds on chain.

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<v Speaker 1>They've created NFTs for properties, and you can use Propy

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<v Speaker 1>to buy and sell real estate and you can do

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<v Speaker 1>it with crypto, which is amazing, and they use blockchain

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<v Speaker 1>technology to facilitate the transactions, of course, and they use

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<v Speaker 1>coin for the crypto escrow. So Propy doing some amazing things,

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<v Speaker 1>and they have a promotion going where you can earn

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<v Speaker 1>some propery tokens by simply doing simple activities like sharing

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<v Speaker 1>their video, signing up, inviting a friend. So if you'd

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<v Speaker 1>like to learn more about Propy, visit the link in

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<v Speaker 1>the description. All right, folks, the next major crypto hearing

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<v Speaker 1>will be the Joint House Financial Services SEB Committee on

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<v Speaker 1>Digital Assets, Financial Technology, and Artificial Intelligence and the House

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<v Speaker 1>Agricultural Subcommittee on Commodity Markets, Digital Assets and Rural Development

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<v Speaker 1>hearing entitled American Innovation and the Future of Digital Assets,

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<v Speaker 1>a Blueprint for the twenty first century. This will be

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<v Speaker 1>on Tuesday, May sixth at ten am. So they're going

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<v Speaker 1>to do an updated draft on the FIT twenty one

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<v Speaker 1>Market Structure Bill. Remember this passed through the House last year,

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<v Speaker 1>and remember we got to get a version together with

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<v Speaker 1>the Senate to get it through the Senate. So things

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<v Speaker 1>are moving. This is what we want to see in

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<v Speaker 1>President Trump, of course, gave the deadline of Congress getting

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<v Speaker 1>the two crypto legislation bills on his desk before the

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<v Speaker 1>August recess. So great to see there's action here and

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<v Speaker 1>I will try to get Congressman french Hill back on

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<v Speaker 1>the podcast to talk about this now. Today, Folks, was

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<v Speaker 1>the third SEC roundtable and the new chairman, Paul Atkins

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<v Speaker 1>spoke there. He made his opening remarks there he hears

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<v Speaker 1>a quick quote, innovation has been stifled for the last

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<v Speaker 1>several years due to the market and regulatory uncertainty that

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<v Speaker 1>unfortunately the SEC has fostered. And there are some other

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<v Speaker 1>takeaways that I want to highlight here. He reiterated that

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<v Speaker 1>among his goals at the SEC would be to facilitate

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<v Speaker 1>clear regulatory rules of the road for digital assets, and

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<v Speaker 1>he says I look forward to engaging with the market

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<v Speaker 1>participants and working with colleagues in President Trump's administration and

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<v Speaker 1>Congress to establish a rational, fit for purpose framework for

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<v Speaker 1>crypto assets. So SEC will have to play a major

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<v Speaker 1>part in getting the Crypto Market Structure Bill together. We've

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<v Speaker 1>got to answer the question of what's the security, what's not?

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<v Speaker 1>How do you what type of test do you use?

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<v Speaker 1>Because you can't use the old Howie tests of nineteen thirties.

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<v Speaker 1>These are not oranges and orange trees. These are tokens

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<v Speaker 1>on globally distributed blockchains that are decentralized. So we got

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<v Speaker 1>to do something different here, right, You can't use the

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<v Speaker 1>same old stuff. So this is really great and I'm

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<v Speaker 1>hoping that we could get some things going as far

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<v Speaker 1>as all coined ETF. So I'm I'm sure Paul is

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<v Speaker 1>going to be working with hester person. Market waited to

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<v Speaker 1>get all this done. So really great stuff. And look

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<v Speaker 1>at this the NASDAC. They sent a letter to the

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<v Speaker 1>SEC outlining what they think crypto legislation should look like. Folks,

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<v Speaker 1>step back for a second. A stock exchange is sending

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<v Speaker 1>the SEC it's recommendations on what crypto legislation should look like. Guys,

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<v Speaker 1>how things have changed. I mean, the biggest institutions in

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<v Speaker 1>the world, baying stock exchanges, hedge funds, vcs, major payment

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<v Speaker 1>companies are all here and they are looking to go

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<v Speaker 1>all in on crypto. This this is so bolish, so

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<v Speaker 1>let me give you some details here. It's a lot

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<v Speaker 1>to read, so up, I'll just give you guys the TLDR.

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<v Speaker 1>So the NASDAK sent a lengthy letter to the SEC.

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<v Speaker 1>Crypto task force outlining what the ideal US crypto rules

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<v Speaker 1>would look like. So the four future categories of digital

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<v Speaker 1>assets in Nasdaq's view should be one financial securities tokens

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<v Speaker 1>tied to assets that are securities under existing definitions, like stocks, bonds,

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<v Speaker 1>and exchange traded funds, which a NASDAQ set should be

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<v Speaker 1>treated just the same as the under underlying assets. Number

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<v Speaker 1>two Digital asset investment contracts tokenized contracts that can check

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<v Speaker 1>all the securities boxes under a clarified version of the

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<v Speaker 1>Supreme Court's so called Howie tests. Number three Digital asset

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<v Speaker 1>commodities meeting the US definition of commodities. Number four other

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<v Speaker 1>digital assets, stuff that doesn't fall anywhere else and shouldn't

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<v Speaker 1>have rules for securities or commodities imposed on it. This

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<v Speaker 1>makes sense. I like this. These are four solid categories.

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<v Speaker 1>It touches on tokenization of traditional assets and some new assets.

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<v Speaker 1>But the tokens for blockchains they're saying a fall under commodities,

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<v Speaker 1>so this really makes sense. And then the other digital

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<v Speaker 1>assets sounds like it's related to things like NFTs and

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<v Speaker 1>meme coins and so forth. So I like this. This

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<v Speaker 1>makes sense. Now, Devil's in the details. We got to

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<v Speaker 1>make sure we get all the details, but at a

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<v Speaker 1>high level, this makes sense. Guys. All right, final news item,

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<v Speaker 1>Similar Scientific buys another ten million dollars worth of bitcoin.

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<v Speaker 1>So many of you may recall this is a healthcare company.

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<v Speaker 1>They're using the micro strategy playbook or actually say strategy

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<v Speaker 1>playbook they got rebranded of course, to buy bitcoin put

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<v Speaker 1>it on a balance sheet. We are seeing more and

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<v Speaker 1>more companies are doing this. It's incredible what's going on.

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<v Speaker 1>So they bought approximately ten million dollars worth of bitcoin

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<v Speaker 1>since February fourteenth, and in total they bought one hundred

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<v Speaker 1>and eleven bitcoin for an average price of about ninety

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<v Speaker 1>thousand dollars per coin. You think they're anticipating higher prices.

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<v Speaker 1>Yeah right. It now holds a total of more than

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<v Speaker 1>three thousand, three hundred bitcoin worth approximately three hundred million

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<v Speaker 1>dollars in aggregate. So, guys, this trend will continue. Corporations

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<v Speaker 1>and different businesses they are going to do this. I mean,

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<v Speaker 1>guess yesterday I reported to you guys that Tethers, soft

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<v Speaker 1>Bank and Cantor Fitzgerald are partnering to form a new

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<v Speaker 1>company called twenty one, which will be a spack and

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<v Speaker 1>they're going to buy bitcoin. So I hope you see

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<v Speaker 1>what's happening here. All roads point to bitcoin as a

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<v Speaker 1>reserve asset. Now there are there are companies adding Solana.

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<v Speaker 1>We've been reporting on that, and some have added Etherorem.

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<v Speaker 1>I remember there was one last year that said they

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<v Speaker 1>wanted to ad XRP. So it's going to go beyond bitcoin.

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<v Speaker 1>But I think bitcoin is going to be the core

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<v Speaker 1>asset for the corporate treasury reserve strategy. All right, folks,

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<v Speaker 1>that's the news. Let me know what you think. Leave

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<v Speaker 1>your thoughts and comments below hit the thumbs up button.

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<v Speaker 1>to my free email newsletter. It's on substack link convenient description.

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<v Speaker 1>Check out my book on Amazon and it's available in

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<v Speaker 1>paperback and digital. And my new course at mycryptocourse dot com.

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<v Speaker 1>This is a comprehensive course that helps you learn about crypto.

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<v Speaker 1>Knowledge is powers, so this course covers every aspect of

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<v Speaker 1>crypto and it features expert commentary. You will hear directly

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<v Speaker 1>from founders, CEOs and institutional investors. This is something exclusive

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<v Speaker 1>that is course and no other course offers it. So

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<v Speaker 1>if you'd like to learn more, go to mycryptocurse dot com.

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<v Speaker 1>Thank you guys for watching and listening. I appreciate you all,

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<v Speaker 1>and I'll talk to you all later. Pask Bake post

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<v Speaker 1>post postsk