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Speaker 1: Hey, folks, welcome into the Thinking Crypto podcast. You're home

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for cryptocurrency news and interviews. I'm your host, Tony Edward.

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On your way in. Please let that subscribe button as

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well as a thumbsup button and leave a comment below.

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If you're listening on a podcast platform such as Spotify

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or Apple, please be sure to follow and leave a

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five star rating. Okay, folks, let's quickly start with the price,

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because today we had an FOMC hearing and the FED

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decided to leave rates as is, not to cut or

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increase rates. And bitcoin is still chopping in that low

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sixty thousand dollars range, so just going up and down

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kind of sideways within that range. So we really have

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to wait to see what the next move is. The

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good signals that we've been monitoring is that the RSI

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in the daily chart is in a neutral zone, still

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has room to run, so we could see a move

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up to the seventy thousand, seventy two thousand dollars range.

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The question is are we going to get rejected at

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that two hundred day moving average then roll over to

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lower lows or are we setting up higher lows? And

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we continue to go higher and could the passing of

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the clariac be a catalyst to help Bitcoin to find

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that bottom and keep moving higher. So these are the

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scenarios I'm looking at and being patient to see which

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one plays out. Obviously, the very bullish charts, which I've

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been highlighting in my newsletter as well as on the podcast,

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is on the weekly chart for Bitcoin. There is a

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bullish divergence that's forming and it's looking really good. The

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mac D on the weekly has also flipped the bullish

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and if you look at the USDT stable coin dominance,

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that has a bearish divergence in place. So the inverse

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which makes sense because when this is collapsing, it means

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the stable coin liquidity it's making its way into the market,

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And obviously with Bitcoin, that bullish divergence means the price

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is starting to form a bottom and start to work

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its way up. Now, timing is really hard to figure

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out on these things because we only have the day

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as of today right, so we have to see how

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it's going to go. Is there one more flush downwards

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before we move, or you know, the bottom is forming

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around this region. I don't have a crystal ball, so

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I can't guarantee you or say this is definitively the bottom.

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Is just a matter of seeing how these signals play

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out over time. But with the USDT dominance as mentioned,

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a beers divergence forming and the mac D and this

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is on the weekly timeframe, has flipped bears. So this

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is great. You know, this is what you want to

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see for the USDT stable coin dominance, and this is

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what you want to see on the Bitcoin weekly chart.

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So very good signs here, guys. Again, patients is the

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key and could the Claritiac passing have an impact now

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I mentioned earlier, any week there's an FMC hearing, there's

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a lot of volatility, so anticipate that tomorrow and Friday,

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even into early next week there could be some volatility

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with the price, a lot of chops, a lot of

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folks getting shaken out. But this is where when not

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going to hyper focus on the hourly, daily and much more.

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We just got to sit back and let this bullish

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divergence complete here. But overall we're in a good spot.

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I think the majority of the downside move has been

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completed and we're nearing that bottom. Now, speaking of the Claritiac,

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we got Jack Dorsey's block has officially endorsed the passing

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of the CLARIAC. It says here, I'm writing to express

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our strong support for the Digital Asset Clarity Act and

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to respectfully urge the Senate floor consideration of this bill.

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So a lot of folks are sending in their approvals,

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and of course the law enforcement agencies that have been

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endorsing the bill carry a lot of weight, so they

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should have a lot of impact on what the Senators

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are able to do. And of course we've been monitoring

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what the Democrats are seeing and doing. Yesterday I reported

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that one of the major Democrats is looking to get

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a compromise done with the ethics item. You know, their

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main gripe is that ethics and Trump and his crypto

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earnings and much more. So hopefully they're able to come

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to and compromise this week and they can get the

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bill out next week for a vote. But here we

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got another Democrat who's out of Nevada. Her name is

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Senator Catherine Cortes Masta back to the new CLARIAC proposals

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sent to the White House, saying, we feel good about

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the chance to resolve the issue once and for all.

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So this is great, This is what you want to hear. Again,

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this is the sausage making process. A lot of people

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get triggered because you know, they're very partisan, if they're Republican,

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if the Democrats do anything, they get fired up and

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knee jerk reactions and vice versa. Right, we want to

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see the dialogue, we want to see the counter offers,

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we want to see negotiations. This is how it happens,

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not just for Crypto bills, but for every bill out there.

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So I like what I'm seeing and hopefully they're able

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to get it done. But as I've said, you know

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numerous times, those who block this bill and they come

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out anti Crypto, get ready to get your ad is

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handed to you in the midterm elections. Alla what happened

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in twenty twenty four, So there will be consequences, and

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Crypto is ready to spend the money to go after

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these people who put up roadblocks in this whole process.

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So that's how it's going to play out. As we've

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seen before, we are also seeing a lot more Republican

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senators come out and give their support. So it's important

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that they not just stay quiet, but they come out

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and endorse the bill. So Senator Tommy Tubberville voices his

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support for the CLARITIAC. He says, I'm proud to stand

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with Senator Lumis on the CLARITIAC to create clear rules

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of the road for the digital assets industry that allow

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the sector to thrive. So this is really great. However,

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the banks continue to try to put up a roadblock

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on the stable coin Yiale situation. So the American Bankers

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Association CEO was on CNBC this morning talking about the

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CLARITIAC and he had some interesting statements. He said, there's

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a lot of good in the CLARITIAC. I do think

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that the crypto and banking sectors can coexist. I think

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we can be the crypto capital of the world. We're

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working with the senators on this bill. So again glad

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to hear there's less aggressive and fighting dialogue and more

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of hey, we like the bill. We just need to

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sort this out. We're working on it. So their tune

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is changing, because if they continue to come out aggressive

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as they have had in the past months, they're gonna

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look like fools, especially when you have black Rock, Goldman, Sachs, Fidelity,

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Franklin Templeton coming out and endorsing the bill. So it's

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really great that those banking institutions on Wall Street came

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out and you know, kind of put balance on the

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scale here because you saw Jamie Diamond cursing out Brian Armstrong,

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you saw the ABA and all the stuff they were saying.

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Very aggressive, you know, very angry. But now you're getting

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a softer tone. So this is very good. Again, it's

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the ugly sausage making process. This is how politics is

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right again, not exclusive to Crypto, this is how it

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is for other bills and much more so. Let's see

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what compromise they are able to come up with. I

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don't think they should get anything else because there was

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already a compromise in the Senate banking confirmation of that bill,

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where Democrats Senator Angelo, also Brooks and other Republicans they

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work to figure out the compromise. Not the banks are saying,

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give me more, and it's like we gave you a cookie,

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now you want a glass of milk. Right, But let's see,

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let's see what they come up with, and hopefully it's

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good and it's not us losing out in any way. Now.

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White House cryptoadvisor Patrick Witt retweeted this news about the Aba,

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and he says, banks, giving a mock scenario, we must

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ban the payment of interest on stable coins to protect

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community banking lending. Claritiac bans payments of interest on stable

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cood banks. The Clariac must be stopped or it will

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destroy community bank lending. Make it make sense. So again,

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the banks already got their compromise, now trying to come

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up with more stuff. So it was really great that

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the other banks on Wall Street it came out in

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opposition to this nonsense. But I digress. Let's see what

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they're able to do by Friday, if not early next week,

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and they can get this bill voted on. The big

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thing to keep in mind as well, is that this bill,

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after it gets voted in the Senate, and let's say

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it passes the Center floor, it has to go back

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to the House. And if everybody's going on in August recess,

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then does that mean the vote on the House happens

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later this year in the fall or can they do

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a quick push. There have been some updates to the bill.

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You guys may have seen my interview with Congressman Brian's

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style where he's not anticipating any issues. And remember they

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were the first to pass this bill in the House.

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It was called a fit twenty one bill, it's not

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called clarity. So hopefully they can fast track it through

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because you know, the majority of the things they had

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in there are still there, and there were some additions obviously,

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and they can get it through pretty quickly. So fingers

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crossed that's the case. Next week is going to be huge, folks.

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Next week is going to be a very big week

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because the market co rally off of good news, but

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it could also dump on bad news. So just be

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mentally prepared that if this thing doesn't go through and

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Bitcoin dumps down to fifty k, some all coins bleed

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out even further. It's all part of the process, right,

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and will bottom out. Doesn't mean the bull market will

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never come back, you guys know. Markets are cyclical, but

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it will be nice, you know, if they get this

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done and Bitcoin has a strong rally, all coins follow.

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And I'm not saying we're going to new all time highs,

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So please understand what I'm saying. Right there is probably

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gonna be people telling you, oh, it's going to go

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to one hundred x everything. No, no, all right, we

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are coming out of a bear market, so you got

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to keep your expectations in the right place. It could

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simply be a very strong relief rally that sets up

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higher highs and higher lows. But don't forget. This could

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be sideways chop right, and then come maybe q l

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Q three into Q four, you start to see a

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stronger rally. I don't think new all time highs as yet,

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but maybe bitcoin climbs back up to one hundred k

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and then later into twenty twenty seven, then you start

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knocking in the door at all time highs. Right, But

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we we'll have to wait and see. But nevertheless, folks,

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you can prepare for the upcoming bull market by buying

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the dip on I Trust Capital. So I Trust Capital

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allows you to invest in crypto and precious metals like

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gold and silver as well as platinum. They just recently

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added that, and you can do it via an IRO.

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Now you may say, why the hell would I want

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to invest via an IRA, Well, it's the tax advantages.

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When you sell for a gain, you don't have to

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pay any capital gains taxes, whether it be long term

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or short term. So this is a huge advantage folks,

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and you can buy and sell these assets twenty four

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to seven. They're currently in the process of adding stocks,

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and if you have an existing four to one k

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or IRA, you can simply roll it over to I

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Trust capitalis version. It's low costs, there's no monthly fee,

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and of course it includes all the top crypto assets,

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even new assets as well. They have stable coins you

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can steak as well, and with the gold and silver

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and precious metals products, it's the physical assets. It's not

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paper gold or silver, so if you ever want to

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redeem the asset, you can certainly do that. They also

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have a great custody solution called Premium Custody account. It

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uses institutional grade crypto custody such as coin based prime,

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so black Rock uses coin based prime, so you can

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sleep at night knowing you are getting the tier one

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level custody. You can go in and out twenty four.

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It's low fees and it's a closed loop system, so

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that means if anyone hacks into your account, they can't

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withdraw funds because it's only set up to go to

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your bank account. So you got to check out I

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Trust Capital guys. It's a great option. You can have

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a dual strategy. You know, you buy and sell on

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normal exchanges. But your long term investments that you know,

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over time, as they grow and you're gonna take gains,

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you don't, they're gonna be sheltered from taxes. So that's

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my strategy. I have a dual strategy. I have an

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account with them. You can get one hundred dollars funding

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is Ryan if you have any questions, and he can

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kind of hold your hand through the process. So I

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think that's a great feature. So guys, go to I

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Trustcapital dot com slash go slash Thinking Crypto to learn more.

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Link will be in the description. All right, moving ahead,

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the traditional nine to five banking day is officially dying,

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says Morgan's Stanley executives. So we've been talking about this

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for years, guys. Right, we're headed to the token economy,

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twenty four to seven markets, truly global markets with the

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tokenization of assets, and it's not just you know, stocks

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and ETPs is the actual currencies. Banks right now are

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working on stable coins as well as tokenized deposits. So

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Morgan Stanley, they are confirming what we've been talking about

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for many years. So the financial industry is moving toward

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a world where markets never close, payments settle in real time,

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and investors expect access to their money around the clock.

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According to Morgan Stanley executives who say tokenization is accelerating

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a shift away from traditional banking hours. This is why

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Jamie Diamond is so upset. This is why the ABA,

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the American Banking Associations, they're up in arms because disruptive

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technology is here. So, speaking during a panel discussion on

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digital assets, Betsy Graycek, Morgan Stanley's Global head of Banks

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and Diversified Finance Research, argued that the move to tokenize

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assets is about far more than cryptocurrencies. Instead, she said,

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the focus is on rebuilding financial infrastructure for and always

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on economy. So guys, I've been calling it a token

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economy because it's you know, a lot of these assets

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and currencies are going to be in a token format,

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as we know per the blockchain using cryptography. So again,

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these folks are kind of having their aha moment. But

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we've who've been here for years, knew it was coming,

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and we've been following what the governments have been doing

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the larger associations around the world like the IMF, the

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BIS and much more. So great to see these guys

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coming out. And you know, Morgan Stanley was certainly late

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to the game, but better late than never. And here's

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another example. BNY Mellon targets eight point six trillion dollar

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transfer ag andy market on blockchain rails, not traditional rails,

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blockchain rails. So I often have stated that the future

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capital markets, economies, and governments will run on blockchain rails.

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So remember B and Y Melon is the world's largest

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custodian and America's oldest bank. So B and Y, which

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has more than fifty nine trillion dollars in assets under

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custody and administration, is moving one of its core record

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keeping businesses onto blockchain as Wall Street builds the infrastructure

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for tokenized funds. The Financial Times reported here's a quote.

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We think of B and Y as modernizing a function

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that sits behind every single fund transaction by bringing the

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books and records on chain. Caroline Weinberg, chief Product and

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Innovation officer at the two hundred and forty two year

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old financial services giant. That's incredible. So they're going to

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move the whole process on chain. Guys, again, blockchain rails

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will power all this. So bn Y, which serves about

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eight point six trillion dollars in assets across seven point

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six million accounts, said moving its transfer agency onto blockchain

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would create a single record of ownership, cutting out the

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need for multiple intermediaries. So incredible, incredible. This is validation

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of all the things we've been thinking about and speculating

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a bit, and I think we see the roadmap. And folks,

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I've stated quite often, if you know any crypto skeptics,

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blockchain skeptics, whether it be friends or families, coworkers, send

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this to these news to them, right. The companies they

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probably use are already using the technology and building with it.

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But of course many of them don't see this because

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this is not on CNN Fox right, it's not the

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big headlines that that's been pushed in your face. You've

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got to actually search for this news. So this is

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where you send it to them. Let them read through it,

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get educated about what's happening here and the opportunity now

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stay coin firm Brail says new protocol can remove a

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major hurdle to scaling custom tokens. So a lot of

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new companies are popping up building infrastructure for stable coins, tokenization,

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and more so it's pretty fascinating to see what these

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the ideas that these guys are coming up with. So

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stable coin infrastructure firm Brail is rolling out an interoperability

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protocol designed to end what it says is a bottleneck

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in the industry's growth, moving rapidly expanding number of custom

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stable coins across blockchains. So if you have a basket

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of stable coins from different issuers, Circle, Ripple, PayPal, Tether,

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the list goes on and then you have them on

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different blockchains. Because it's going to be a multi chain whorld,

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it's going to take some infrastructure to handle that right

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and to settle atomically and process all these things fast.

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And I think AI you know, will certainly be used.

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But let me give it to details here. Dubbed Ion Protocol,

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it allows participating stable coins to move between blockchains by

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burning tokens on one network and minting an equivalent amount

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on another. Unlike most blockchain bridges, the model does not

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require liquidity pools to be pre funded on every supported chain.

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While the three hundred billion dollars stable coin market is

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dominated by Tether's USDT and circles USDC. New participants are

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piling in banks, FinTechs, crypto firms, and asset managers are

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increasingly issuing their own branded tokens for payments, settlements and

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tokenized assets. So again, look at the infrastructure depiction shovels

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that are being built here to allow for all of

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this to move seamlessly. And it's great to see this.

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This is what you want to see for a growing

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acid class in technology. You need to have the infrastructure

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built to allow for less friction and more efficiency. All right,

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moving ahead here final news. Robinhood's prediction markets top crypto

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and equities revenue in Q two. So robin Hood's Robinhood

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chain their arbitrum layer two from that mistake and has

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00:19:10,920 --> 00:19:12,720
been doing really well. There's been a lot of meme

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coin activity there. They also launched prediction markets, so you

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can see these traditional investment firms. And while Robinhood's not traditional,

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00:19:21,880 --> 00:19:23,920
maybe I actually restate that and say it was a

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00:19:23,960 --> 00:19:27,039
modern investment platform, but it was non crypto, right, it

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00:19:27,079 --> 00:19:30,079
was not crypto based, but now it's integrating crypto in

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many ways, and a lot of their revenues coming from that.

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So at sign of the times, how things have changed, folks.

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So the trading platforms said it generated one hundred and

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fifty six million dollars from event contracts compared with one

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hundred million dollars from cryptocurrency trading, which fell at thirty

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00:19:47,160 --> 00:19:49,319
eight percent from the same period a year ago. Now

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00:19:49,440 --> 00:19:51,359
that makes sense. We're in a bear market, right, so

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00:19:51,400 --> 00:19:54,559
of course it fell. The company posted a profitable quarter

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00:19:54,799 --> 00:19:57,839
with its net income of five hundred and seventy three

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00:19:57,920 --> 00:20:03,000
million dollars constitute a forty eight percent increase when compared

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00:20:03,039 --> 00:20:07,079
to Q two twenty twenty five. Now, obviously everybody's revenue

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00:20:07,079 --> 00:20:08,559
is going to go back up in a bull market

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when you have more people interested in investing and doing more, right,

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So you got to make sure that you judge this

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by the current market environment. So Robinhood continues to build

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with crypto again. They have their own blockchain to just

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launch and it's been doing really well. In fact, I

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interviewed robin Hood's head of Crypto recently. That interview should

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be published if not this week early next week, and

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00:20:31,559 --> 00:20:34,680
we talked about their AI trading agent bots and all

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00:20:34,720 --> 00:20:38,400
these things. So they're doing some very very interesting things.

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And you know this next bullmarket could be led by

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folks like Robin Hood and the other Wall Street firms

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like your Morgan Stanley's, because they are now all in. Right,

365
00:20:50,759 --> 00:20:53,200
it's no longer should we have a crypto shreat and

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00:20:53,440 --> 00:20:57,599
you must have a crypto strategy. And remember there, they

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already have millions of customers. So with the push of

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a button they can send out the launch their products

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to these millions of users and get quick adoption. Right,

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And it's going to be easier to sell because they

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already have to trusted set up these trusted brand infrastructure

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and more. Right, if you've been using Morgan Standing just

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as an example, or Fidelity for years for your traditional investments,

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and you see crypto has been doing well, but you're

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kind of scared to go on a crypto exchange. You

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00:21:29,279 --> 00:21:32,759
don't want to deal with private keys and security. Well,

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these firms now offer unique products like ETFs and different

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investment vehicles. It's an easy sell, man, And it's what

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I've been saying for years. If the native crypto firms

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didn't up their game, Wall Street's gonna come over and

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take over the market. And I'm not saying I want that,

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00:21:52,119 --> 00:21:55,799
but I just see down the road what's coming. And

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I'm not saying all native crypto exchanges are going to

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go away, but I think a lot of them are,

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and we're starting to see that. A reported yesterday about bitmax,

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Bitmart and some of these guys who are starting to

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close shop. So but this is the nature of markets,

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and this is where you got to keep up and

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offer a great service, be competitive. But the Wall Street

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firms they see an opportunity and they're pouncing on it. Folks,

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that's the news. Let me know what you think. Leave

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your thoughts and comments below, hit the thumbs a button subscribe.

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If you haven't as yet, please be sure to subscribe

394
00:22:29,480 --> 00:22:32,240
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396
00:22:35,200 --> 00:22:38,440
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397
00:22:38,440 --> 00:22:41,279
my course at Mycrypto course dot com. This is a

398
00:22:41,319 --> 00:22:44,119
comprehensive course that teaches you everything you need to know

399
00:22:44,119 --> 00:22:47,559
about crypto. Again, go to Mycrypto course dot com. All

400
00:22:47,599 --> 00:22:49,720
the links will be in the description. Folks. Thank you

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00:22:49,759 --> 00:22:51,880
so much for tuning in. I appreciate you all, and

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I'll talk to you all later two,