WEBVTT

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<v Speaker 1>Charles Hoskinson, Cardono's founder, makes some very big statements about

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<v Speaker 1>Swee that he thinks it's a great project, and he

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<v Speaker 1>bashes Solana. I'll give you the details, and coinbase is

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<v Speaker 1>stepping in to back up Ripple in the SEC's appeal.

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<v Speaker 1>I'll share all the details there as well. Let's get

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<v Speaker 1>into it. Hey, everybody, welcome into the Thinking Crypto podcast.

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<v Speaker 1>You're home for cryptocurrency and news and interviews. I'm your host,

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<v Speaker 1>Tony Edward. On your way in. Please hit that subscribe

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<v Speaker 1>button as well as the thumbs up button and leave

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<v Speaker 1>a comment below. If you're listening on a podcast platform

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<v Speaker 1>such as Spotify or Apple, please leave a five star

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<v Speaker 1>rating and review. Folks, let's quickly touch on the price

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<v Speaker 1>of bitcoin, because right now we are still in the sideways,

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<v Speaker 1>boring chop. It is so annoying. A lot of us

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<v Speaker 1>are waiting for bitcoin to break out so we can

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<v Speaker 1>head to new all time highs and that liquidity can

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<v Speaker 1>then flow down to the all coins and we have

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<v Speaker 1>some sort of all season. Obviously, we are nowhere near

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<v Speaker 1>the top in this bullmarket cycle, and remember bull markets

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<v Speaker 1>can last for years, but in the micro we are

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<v Speaker 1>waiting for the DXY to correct so that risk assets

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<v Speaker 1>like bitcoin, crypto and the stock market and so forth

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<v Speaker 1>can continue to move higher. And as I was saying

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<v Speaker 1>for a long time, the DXY could find some strength

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<v Speaker 1>before it breaks below one hundred, and boy is it

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<v Speaker 1>finding strength. Look at these green candles. I mean, it's

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<v Speaker 1>incredible on the daily chart here, but make no mistake

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<v Speaker 1>about it, it will start to break downwards. And one

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<v Speaker 1>analyst called out this current balancing, it is technically nothing

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<v Speaker 1>but a debtcat balance potentially a two month one on

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<v Speaker 1>the one month moving average fifty that in our opinion

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<v Speaker 1>by Q two twenty twenty five, should have priced the

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<v Speaker 1>bottom of the channel. Now, I don't fully agree with

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<v Speaker 1>the timeline that it may take that long. We could

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<v Speaker 1>be in for weeks, maybe even a month or more

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<v Speaker 1>for a sideways move for bitcoin. So be prepared that

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<v Speaker 1>this thing is not going to move up any time soon.

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<v Speaker 1>I hope I'm wrong, So I don't have a crystal ball,

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<v Speaker 1>but based on the technicals here, in different factors, with

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<v Speaker 1>the FED and raycuts and the FED coming out more

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<v Speaker 1>hawkish and so forth, and job numbers coming in stronger

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<v Speaker 1>than expected, the DXY could continue to hold some strength here,

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<v Speaker 1>but make no mistake about it. In time, it will

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<v Speaker 1>break down. And I'm not talking years obviously, but you

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<v Speaker 1>know we're talking weeks, possibly into over a month, So

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<v Speaker 1>just be prepared to be patient and for more potential

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<v Speaker 1>downside or just sideways chop. Now, one indicator I want

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<v Speaker 1>to highlight here that is looking bullish and it does

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<v Speaker 1>need time to play out is the mac D and

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<v Speaker 1>that is when the blue line is crossing the orange.

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<v Speaker 1>It's a bullish sign. So the blue line's making its

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<v Speaker 1>way up right now. If you go back and look

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<v Speaker 1>at this on the weekly chart, it has told the

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<v Speaker 1>story of when we're in a bullish time and when

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<v Speaker 1>we were in a bearge time. So obviously running up

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<v Speaker 1>in twenty twenty blue was above the orange, and even

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<v Speaker 1>the runo from October twenty twenty three into April of

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<v Speaker 1>this year where bitcoin hit the new all time high,

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<v Speaker 1>it was over the orange. So this is just one indicator.

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<v Speaker 1>I look at multiple indicators and different macro factors, but

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<v Speaker 1>it just shows that we got to be patient. And

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<v Speaker 1>here Titan of Crypto highlight the following Bitcoin bounce from

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<v Speaker 1>the Gaussian Channel. Bitcoin price has risen since retesting the

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<v Speaker 1>Gauzian channel is showing signs of strength. So it's not

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<v Speaker 1>going to happen tomorrow night. It's not gonna happen next week.

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<v Speaker 1>We got to give it time, let these things play out.

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<v Speaker 1>But we're seeing that there's light at the end of

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<v Speaker 1>the tunnel here, both with the price of bitcoin as

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<v Speaker 1>well as the d X Y and one of the

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<v Speaker 1>other indicators I've used to show you guys at the

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<v Speaker 1>top is in is the bitcoin pie cycle top indicator.

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<v Speaker 1>Nowhere close. Don't get me wrong. It's closer than it

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<v Speaker 1>was obviously at the beginning of twenty twenty three, but

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<v Speaker 1>we're nowhere close the cross of the one hundred and

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<v Speaker 1>eleven day moving average and over the three hundred and

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<v Speaker 1>fifty day moving average. So look, there's tons of indicators

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<v Speaker 1>out there. We want to look at all of them

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<v Speaker 1>to see the full picture. We want to look at

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<v Speaker 1>the macro factors, the fundamentals and so forth. So that's

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<v Speaker 1>how I look at the market. You can't just look

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<v Speaker 1>at charge. You get to look at macro factors, and

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<v Speaker 1>I think looking at all these things help me to

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<v Speaker 1>see the full picture. Here's one other factor that I

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<v Speaker 1>like to look at to see what whales are doing,

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<v Speaker 1>and that is stable coin supply, the minting of stable coins.

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<v Speaker 1>We continue to see a significant amount of USDC being

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<v Speaker 1>minted by Circle. Just yesterday we had one hundred and

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<v Speaker 1>fifty million USD minted. That's just in one day, and

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<v Speaker 1>we've been seeing this over the past of three to

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<v Speaker 1>four weeks on a weekly basis. There's been hundreds of

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<v Speaker 1>millions of dollars worth of USD stable coin being minted,

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<v Speaker 1>and that liquidity, of course, is being put into the market.

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<v Speaker 1>So we got to be patient and let these things

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<v Speaker 1>play out. Now, guys, we've got some interesting news coming

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<v Speaker 1>from Cardono founder Charles Hoskinson as he throws some shade

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<v Speaker 1>on Solana and says Swie is better now. Swie is

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<v Speaker 1>a layer one blockchain which has incredible performance. It's very

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<v Speaker 1>fast and heads up. I'll be interviewing the founder and

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<v Speaker 1>the creator of this, Evan Chang, who's the co founder

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<v Speaker 1>and CEO Missed and Labs, which works on swee. So

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<v Speaker 1>that interview is coming. I'll be doing that this week,

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<v Speaker 1>but let me sure the details around what Charles had

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<v Speaker 1>to say. The Cardano founder mentioned in an expost that

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<v Speaker 1>Swie network is what Solana should have been, indicating that

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<v Speaker 1>the former is a better option than Solana, which ranks

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<v Speaker 1>as a top Layer one blockchain. His statement came following

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<v Speaker 1>his revelation on how he had read about Swee. The

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<v Speaker 1>Cardona founder mentioned that it was great to see George

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<v Speaker 1>Dennis's Sweet's initial contributor work come to life. He added

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<v Speaker 1>that they deserve great success in the space, so he

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<v Speaker 1>literally tweeted this out. It's interesting that he said this,

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<v Speaker 1>especially endorsing Swee. But this isn't the first time that

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<v Speaker 1>Charles has shaded Solana, especially as Cardano versus Solana comparisons persist.

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<v Speaker 1>Earlier this year, he suggested that Selana wasn't providing any

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<v Speaker 1>real network value despite boasting a good ecosystem. Now, this

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<v Speaker 1>statement follows some recent statements from NSA intelligence contractor Edward Snowden,

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<v Speaker 1>who said Solana is centralized. So we got some beef

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<v Speaker 1>brewing here folks between Solana folks and Cardano and so forth.

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<v Speaker 1>What's interesting. Ralph Palell retweeted Charles's tweet about Sweet and

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<v Speaker 1>he said, to be fair, I didn't have this on

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<v Speaker 1>my bingo card, but it's nice not to see tribalism

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<v Speaker 1>in the space. We are all better together hashtag SWEE

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<v Speaker 1>and Ada. Now could Cardana work with SWEE in some way?

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<v Speaker 1>Maybe I'll try to get some details from Evan Chang

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<v Speaker 1>when I interview him this week. But I don't personally

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<v Speaker 1>hold a sweet token. I have been looking at it.

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<v Speaker 1>I've been trying to fight off the fomo feelings that

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<v Speaker 1>have been getting to jump into this token. It looks

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<v Speaker 1>like it can run, but look, you can't invest in everything,

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<v Speaker 1>you can catch everything. I have my portfolio set in

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<v Speaker 1>my up since the bear market of twenty twenty two,

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<v Speaker 1>so I'm happy about that. And I'm hoping for another

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<v Speaker 1>major bull run as we head into twenty twenty five,

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<v Speaker 1>which some would call the fifth wave, and to make

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<v Speaker 1>some money there. But you know, if I have some

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<v Speaker 1>dry powder and if there's a dip on suite, I

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<v Speaker 1>may grab some, But right now I don't. I don't

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<v Speaker 1>know if any of you hold, but let me know.

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<v Speaker 1>And like I said, I am going to be interviewing

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<v Speaker 1>Evan this week, and SWEE has been running, guys, it's

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<v Speaker 1>been very strong, has been one of those all coins

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<v Speaker 1>that have been leading the bullmarket in a way, if

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<v Speaker 1>you want to say that, you know there's a lot

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<v Speaker 1>of all coins haven't broken out, haven't retraced yet, so

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<v Speaker 1>sweet has been getting a lot of liquidity. Now. A

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<v Speaker 1>place where you can buy Swee is on Uphold, which

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<v Speaker 1>is a great crypto platform I've been using since twenty eighteen.

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<v Speaker 1>They have three hundred plus cryptocurrencies, Bitcoin, all the top

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<v Speaker 1>all coins, folks. They are fully reserved. They don't commingle

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<v Speaker 1>or lend out your crypto assets. You can review their

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<v Speaker 1>transparency reports. I've interviewed this CEO, CFO and much more so.

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<v Speaker 1>This is a reliable platform. They also have a really

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<v Speaker 1>great new product called US the Interest Accounts, where you

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<v Speaker 1>can earn up to four point nine percent APY. You

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<v Speaker 1>can put your dry powder or your crypto profits in there.

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<v Speaker 1>I'm currently doing this and there's no lock ups, there's

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<v Speaker 1>no terms, there's no monthly fees or subscriptions, and its

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<v Speaker 1>FDIC insured just like a bank. So if you want

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<v Speaker 1>to learn more about Uphold, check out the link in

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<v Speaker 1>the description. Now, guys, Coinbase is jumping into back ripple

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<v Speaker 1>in the SEC appeal. So Coinbase seeks early appeal in

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<v Speaker 1>SEC case after Agency appeals ripple ruling. So Coinbase has

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<v Speaker 1>asked the judge in its SEC lawsuit to approve an

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<v Speaker 1>interlocatory appeal or an appeal granted before the case is decided.

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<v Speaker 1>After the SEC appeal the ruling in its separate case

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<v Speaker 1>against Ripple, Coinbase seeks to ensure the Second Circuit has

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<v Speaker 1>as complete a picture as possible by presenting its case

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<v Speaker 1>for appeal around the same time as the SEC's appeal

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<v Speaker 1>in the Ripple case. So we've seen the SEC be hypocrites.

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<v Speaker 1>Right in one case they'll argue something and then the

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<v Speaker 1>other case they'll argue something else, so they don't stand

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<v Speaker 1>on any foundation or abiding by the law. We've seen

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<v Speaker 1>them lie to the courts. We saw in the recent

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<v Speaker 1>Binance Court document where they put into footer, oh we apologize,

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<v Speaker 1>we're using crypto acid securities, we cause confusion and all that,

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<v Speaker 1>and then while in another case they're saying crypto acid securities,

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<v Speaker 1>crypto acid securities right, clear hypocrisy, lots of lying. But look,

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<v Speaker 1>there's nothing new here that we've been talking about this

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<v Speaker 1>for years. So Coinbase may have gotten a bit of

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<v Speaker 1>a gotcha moment here where they're going to use this

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<v Speaker 1>SEC hypocrisy to say, hey, look see what they're doing

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<v Speaker 1>over here. So this could put the SEC in a

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<v Speaker 1>buying but let's see where it goes. Eleanor Tarata. Fox

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<v Speaker 1>Business highlights some more details here. Coinbase cites the SEC's

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<v Speaker 1>Ripple appeal in a new letter to Urge Judge Follia

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<v Speaker 1>to grant its own request for interlocatory appeal. Coinbase notes

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<v Speaker 1>that the SEC's appeal underscores the ambiguity surrounding to how

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<v Speaker 1>he test his application to secondary market sales, further emphasizing

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<v Speaker 1>the need for a court to clarify it at a

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<v Speaker 1>higher level. Now, Attorney James Murphy metlaw Man weid In.

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<v Speaker 1>He said, another smart move by Coinbase here, as it's

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<v Speaker 1>astounding that Judge Follia never ruled on Coinbase's original motion

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<v Speaker 1>for interlocatory appeal file back in April. Those motions are

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<v Speaker 1>normally ruled on very quickly. The SEC's appeal in Ripple's

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<v Speaker 1>case just strengthened Coinbase's argument. So let's see where this goes.

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<v Speaker 1>And I'm hoping some other industry players jump into back

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<v Speaker 1>Ripple as well, because many of the industry folks who

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<v Speaker 1>have been fighting the SEC have been using the Ripple

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<v Speaker 1>ruling from Judge Taurus. So for years I've been saying,

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<v Speaker 1>you know, united, we stand, Divided, we fall. We are

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<v Speaker 1>all facing the common enemy, even if we're competitors. Exchanges

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<v Speaker 1>are competitors, but they should come together, crack in Coinbase

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<v Speaker 1>and so forth, Robinhood, Uni Swamp and share their legal

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<v Speaker 1>knowledge and pool their resources and go after the sec

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<v Speaker 1>because the Ganser is going after everything. He doesn't care.

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<v Speaker 1>His job is to destroy these crypto startups, not destroy crypto,

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<v Speaker 1>as I've been saying. There's some people who say destroy crypto.

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<v Speaker 1>I don't think so, because what's happening in parallel to

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<v Speaker 1>all these things. Black Rock is tokenizing, launching ETFs, custodying

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<v Speaker 1>reserves for circles us, the stable coin you got Franklin Templeton,

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<v Speaker 1>you got Fidelity, you got arc, you have all these

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<v Speaker 1>big players, right. So it's not to kill cryptocryptos here

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<v Speaker 1>to stay, make no mistake about it. It's to get

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<v Speaker 1>rid of the startups, the guys who front ran Jamie

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<v Speaker 1>Diamond and the banks and are making tons of money.

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<v Speaker 1>Coinbase going public, they're making billions of dollars in revenue.

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<v Speaker 1>I've often told you, guys, do you think the folks

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<v Speaker 1>at Goldman Sachs and JP Morgan are happy capital is

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<v Speaker 1>leaving investment accounts or is not going to their investment accounts,

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<v Speaker 1>but it's going to crypto hedge funds and crypto projects.

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<v Speaker 1>They don't like that because they can even touch it

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<v Speaker 1>yet right due to regulations. Remember for years they controlled

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<v Speaker 1>the investment market and they were gatekeeping this and you

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<v Speaker 1>have to be an accredited investor. Now anybody can access

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<v Speaker 1>a token around the globe. They hate that. That's a

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<v Speaker 1>big disruption to Wall Street if you think about it. Now.

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<v Speaker 1>Obviously with them launching ETFs, they can somewhat catch up,

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<v Speaker 1>but in order to catch up, you got to get

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<v Speaker 1>rid of these smaller guys for these new players on

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<v Speaker 1>the block. So that's the game that's happening here, and

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<v Speaker 1>it's not exclusive to crypto, but it's very prominent in

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<v Speaker 1>crypto because you have the disruption of money, of investing,

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<v Speaker 1>of finance, and so forth. It's one of the biggest

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<v Speaker 1>disruptions in history, folks. So this is why you see

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<v Speaker 1>Gencer and Elizabeth Warren and a lot of these agencies

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<v Speaker 1>going crazy. They're going ham in the crypto industry because

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<v Speaker 1>the big boys, Jamie Diamond and all of them are

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<v Speaker 1>getting disrupted and they've made the phone calls. If you

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<v Speaker 1>don't believe that that's not a conspiracy theory, I verify

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<v Speaker 1>that with people in DC and so forth. But that

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<v Speaker 1>is not some far fetch idea. The point is that

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<v Speaker 1>they make campaign donations to the members of Congress and

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<v Speaker 1>the likes of Elizabeth Warren. There's a revolving door with

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<v Speaker 1>Wall Street and the government. Let's look against her. He's

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<v Speaker 1>a Goldman guy, right. Look at all the people throughout

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<v Speaker 1>history that have gone from Wall Street to the government

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<v Speaker 1>and vice versa. It's pretty clear today what's happening here.

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<v Speaker 1>Once again, look at the two things happening in parallel.

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<v Speaker 1>But one of the great things guys at least living

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<v Speaker 1>here in the United States, checks and balances and the

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<v Speaker 1>courts are coming in big time, and the SEC is

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<v Speaker 1>taking some big losses. So we hope that these cases,

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<v Speaker 1>the ripple and coinbaits can win at least win the

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<v Speaker 1>lion's share of the lawsuits so that the SEC continues

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<v Speaker 1>to take hits. And of course we can hope that

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<v Speaker 1>Congress can get some legislation through by the end of

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<v Speaker 1>the year, and obviously a president has to sign that

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<v Speaker 1>into place. But if we can at least get it

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<v Speaker 1>out of the Senate. That's a big hurdle to get

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<v Speaker 1>over over it can help resolve a lot of these things.

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<v Speaker 1>Because the Fit twenty one bill made it out of

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<v Speaker 1>the House with Democrat support. With the Republicans, we got

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<v Speaker 1>to get it through the Senate, and Chuck Schumer, big

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<v Speaker 1>time Democrat, and some other folks in the Senate are

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<v Speaker 1>talking about getting this through. So fingers crossed, guys, that

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<v Speaker 1>would be great if we can get it through the

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<v Speaker 1>Senate by the end of the year, and then a

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<v Speaker 1>new president comes in, you know, in January, and hopefully

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<v Speaker 1>they can get by Q one that thing is signed

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<v Speaker 1>into law, guys, and it can align with the bull

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<v Speaker 1>market continuing into twenty twenty five. So I'm optimistic because

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<v Speaker 1>things are moving faster and expected. Crypto is the biggest

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<v Speaker 1>spender in this election, spending over two hundred million dollars.

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<v Speaker 1>Many Democrats are waking up and turning their banks on

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<v Speaker 1>Elizabeth Warren and Gary Genser, so we can only hope

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<v Speaker 1>and pray. Guys. Let me know what you think about

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<v Speaker 1>this news. Leave your thoughts and comments below, hit the

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<v Speaker 1>thumbs up button. Don't forget to sign up for my

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<v Speaker 1>free email newsletter on Substack, it's one hundred percent free. Also,

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<v Speaker 1>grab a copy of my book, Rethinking Crypto and Amazon

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<v Speaker 1>buy a copy to support the podcast. Buy a few

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<v Speaker 1>copies of your friends and family who want to learn

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<v Speaker 1>about crypto. If you bought a copy already, please leave

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<v Speaker 1>a rating and review. It will really help me out.

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<v Speaker 1>Thank you guys. I appreciate you all, and I'll talk

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<v Speaker 1>to you all later