Speaker 1: Kamala Harris at a Wall Street fundraiser said she is
Speaker 1: ready to support crypto. This is big news. This is
Speaker 1: the first time she's spoken publicly about the asset class.
Speaker 1: I'll give it to details and crypto venture capital firms
Speaker 1: are on a fundraising spree, raising billions of dollars and
Speaker 1: you know where that money's going to go, straight into
Speaker 1: the crypto market. Let's get into it. Hey, everybody, welcome
Speaker 1: into the Thinking Crypto podcast. You're home for cryptocurrency news
Speaker 1: and interviews. I'm your host, Tony Edward. On your way in,
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Speaker 1: a podcast platform such as Spotify or Apple, please leave
Speaker 1: a five star rating and review. Folks, the big news
Speaker 1: of the day is that Kamala Harris, while speaking to
Speaker 1: a Wall Street crowd doing a fundraiser, said she's ready
Speaker 1: to encourage crypto businesses while protecting consumers. Now, this is
Speaker 1: coming from a credible source. It's coming from a Bloomberg
Speaker 1: reporter who was there and she shared the details. Let
Speaker 1: me give you a quick TLDR. We'll go into some
Speaker 1: fine details that the reporter highlighted so Vice President Harris
Speaker 1: said she would encourage innovative technologies like AI and digital
Speaker 1: assets while protecting our consumers and investors as president during
Speaker 1: comments made at a Wall Street fundraiser. According to a
Speaker 1: Bloomberg reporter, President Reuters also reported today that the Harris
Speaker 1: campaign plans to unveil new economic policies this upcoming week,
Speaker 1: so we could see an updated version of her policy,
Speaker 1: and it may include Crypto. Now, I know some of
Speaker 1: the Trump supporters are going to get triggered, and I'm
Speaker 1: going to get a bunch of hateful comments, but I
Speaker 1: will state my stance for the million time. I am
Speaker 1: not telling you to go vote for Kamala Harris. The
Speaker 1: point is I want to take crypto off the table
Speaker 1: of the election because crypto needs bipartisan support both Democrats
Speaker 1: and Republicans to get legislation through the Senate, and then
Speaker 1: obviously we need a president to support it. So far
Speaker 1: this year we saw a lot of Democrats turned their
Speaker 1: back on Elizabeth Warren and Gary Genser and work with
Speaker 1: the Republicans to a crypto legislation out of the House,
Speaker 1: as well as REPEALSAB one two one. You have Chuck
Speaker 1: Schumer and some other big Democrats who are supporting this.
Speaker 1: So once again, I want to make crypto bipartisans. So
Speaker 1: Kamala Harris coming out and saying hey, I support crypto,
Speaker 1: I think is very good and it bodes well for
Speaker 1: the legislation that's needed and the adoption of this technology
Speaker 1: because you can't just have one party supporting this asset class. Now.
Speaker 1: I know Elizabeth Warren made it political and she formed
Speaker 1: the anti crypto army. So we have to fight back
Speaker 1: and we have to hold Kamala Harris accountable because this
Speaker 1: has been happening under Joe Biden's presidency and Kamala Harris
Speaker 1: has been vice president. Right, let's keep it real. But
Speaker 1: my hope is that they can turn a new leaf
Speaker 1: here and do things right. And I want to get
Speaker 1: it off the ballot. Folks. You guys can vote for
Speaker 1: every other issue and so on and so forth, but
Speaker 1: from a crypto standpoint, I'm trying to get it off
Speaker 1: the ballot. So please understand where I'm coming from. I
Speaker 1: am not saying go vote for Kamala Harris. I'm simply saying,
Speaker 1: let's put the price on so we can get crypto
Speaker 1: legislation through because once again, you need vote parties and
Speaker 1: this will open up more capital to come into the market.
Speaker 1: That's the end goal for me. Once again, there are
Speaker 1: other issues in this election that you can go vote
Speaker 1: on and vote for who you want. Because you are adults,
Speaker 1: I'm not here to tell you who to vote for.
Speaker 1: You're not children. So keeping it one hundred percent real
Speaker 1: with you, guys. So the reporter, her name is Jennifer Epstein,
Speaker 1: and she tweeted out Kamala Harris's full comments and she says,
Speaker 1: here here are her first comments on crypto. As a
Speaker 1: Democrat nominee. To build that opportunity economy, I will bring
Speaker 1: together labor, small businesses, founders and innovators, and major companies.
Speaker 1: We will partner together to invest in America's competitiveness, to
Speaker 1: invest in America's future. We will encourage innovative technologies like
Speaker 1: AI and digital assets while protecting consumers and investors. We
Speaker 1: will create a safe business environment with consistent and transparent
Speaker 1: rules of the road. Very encouraging. As I've been saying,
Speaker 1: show me, don't tell me, because Genzer and Elizabeth Warren
Speaker 1: are still in the loose. So guys, you know, I
Speaker 1: keep it real here. I put my political id ideologies
Speaker 1: and favoritism and candidates to decide, and I keep it
Speaker 1: real here. I need to see action because right now,
Speaker 1: Donald Trump has taken more action than Kamala Harris. I
Speaker 1: know under his tenure as a president he was anti crypto,
Speaker 1: but I think he has since educated himself understood that
Speaker 1: this technology is here to say. I've watched him say
Speaker 1: different things in different places, even at the World Economic Forum.
Speaker 1: I've heard him talk about, you know, technology like this,
Speaker 1: and he's doing a lot more. But Kamala Harris nothing
Speaker 1: this one comment. Fine, this is good, it's positive, but
Speaker 1: we need to see action now. To add some context
Speaker 1: of this, why do you think this came up at
Speaker 1: this fundraiser? Wallstreet is here right, Blackrock, Fidelity and so forth.
Speaker 1: They are heavily invested in crypto and AI. They're building products, ets,
Speaker 1: they're tokenizing. So she has to recognize that this technology
Speaker 1: is relevant and it's here to stay. Plus, if you're
Speaker 1: looking for funds, if you're going to be anti crypto
Speaker 1: a big part of what Wall Street is investing in
Speaker 1: to make money, you're shooting yourself in the foot. So
Speaker 1: I think this may be a wake up call for her.
Speaker 1: Right that in this room, and Wall Street has a
Speaker 1: lot of money, They do a lot of campaign donations.
Speaker 1: You better start endorsing crypto, you better start embracing crypto.
Speaker 1: But we need to see more. So very big news,
Speaker 1: my friends. Now here's what folks in the industry are saying.
Speaker 1: Jake Trawirsky, who's a really well known legal expert in
Speaker 1: the crypto industry, said, this is progress, and progress is good,
Speaker 1: but while protecting our consumers investors could mean a lot
Speaker 1: of things. The anti crypto army uses consumer protection as
Speaker 1: a smokescreen to conceal their attempts to destroy our industry. I,
Speaker 1: for one, want to see policy details. Bam spot on.
Speaker 1: This is exactly how I feel. Show me, don't tell me,
Speaker 1: say anything, but I need to see action. And as
Speaker 1: I mentioned earlier, Elizabeth Warn and Gary Ginster have been
Speaker 1: running a mock under this administration, which is Kamala Harris
Speaker 1: is a part of Here's what Fiar Chizade of coinbase said.
Speaker 1: I had him on the podcast a couple of times.
Speaker 1: He said, this is an important and constructive statement from
Speaker 1: Kamala Harris. It's not nearly as forward leaning as the
Speaker 1: concrete and visionary positions taken by Donald Trump. But it's
Speaker 1: still notable because one, she recognizes digital asset innovation as
Speaker 1: being important and on par with AI. She understands that
Speaker 1: there's a path that promotes innovation while protecting consumers and investors.
Speaker 1: And Third, her statement comes after weeks of outreach by
Speaker 1: her inner circle, who are thoughtful and open minded on crypto.
Speaker 1: So there's been a lot of events, even some bipartison events.
Speaker 1: There was one this week with stand with Crypto, Patrick
Speaker 1: McHenry who's a Republican, Walie Nichol who's a Democrat, and
Speaker 1: they had the Chainsmokers and those folks there. So you're
Speaker 1: seeing on the congressional level there is bip artists and support.
Speaker 1: So guys, eventually both parties will one support this asset class.
Speaker 1: We will be in the clear, we'll get the regulations,
Speaker 1: but we've got to keep putting the pressure. Once again,
Speaker 1: you don't have to love kam Laers, you don't have
Speaker 1: to be voting for her, but you want to at
Speaker 1: least put the pressure to get Democrats to support this
Speaker 1: thing so that we can get legislation through and more
Speaker 1: capital can come into the market. That's the end goal,
Speaker 1: and not to make this an election issue. And that's
Speaker 1: not to take away anything from Donald Trump. I give
Speaker 1: a whole bunch of credit to Donald Trump. He shifted
Speaker 1: crypto's Overton political Overton window, and I'm actually going to
Speaker 1: be doing a mini documentary on that very soon. So
Speaker 1: big credit to Donald Trump, of course. But at the
Speaker 1: end of the day, guys, the end goal more capital,
Speaker 1: more clear, clarity for entrepreneurs and investors. Now check this out. Guys.
Speaker 1: Dan Tapiro, who's a big time fund manager, I've had
Speaker 1: him on the podcast a few times. He says, landmark Ledger.
Speaker 1: And why did he say that. He tweeted out a
Speaker 1: full page ad in the New York Times that is
Speaker 1: from Ledger. That's amazing in the New York Times. And
Speaker 1: obviously they highlight that you can store your crypto with
Speaker 1: them and safely do it and so forth. Guys, crypto
Speaker 1: is going mainstream and the fact that you have a
Speaker 1: Ledger hardware wallet add in a full page in the
Speaker 1: New York Times is very bullish in my opinion. Now,
Speaker 1: US Bitcoin ETF see inflows worth ninety two million dollars.
Speaker 1: So on Friday we get information that the exchange traded
Speaker 1: funds saw net inflows of ninety two million dollars and
Speaker 1: this was spread across the seven funds. That's good. We're
Speaker 1: seeing positive inflows. I think this is a second week
Speaker 1: or third week in a row that we were seeing
Speaker 1: positive inflow, So that's good. No negative. I think people
Speaker 1: are starting to get bullish, you know, after the fed
Speaker 1: Erray cuts and much more. Bitcoin looks like it's very
Speaker 1: close to bottoming out, so we do have to be patient.
Speaker 1: As we've been talking about, September is a red month,
Speaker 1: but October is coming. Q four is usually very good
Speaker 1: seasonality wise. Now there's no guarantees, but using the technicals,
Speaker 1: the fundamentals and the macro, that is what we're seeing
Speaker 1: right now. Now. Quick word from our sponsor, and that
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Speaker 1: we get news that cryptovcs are on a funding spree
Speaker 1: and they're raising lots of capital, guys, so let me
Speaker 1: give it to details. Cryptovcs have raised over two point
Speaker 1: two billion dollars in new capital through closed funds this
Speaker 1: year as of August, according to pitchbook data. In the
Speaker 1: last few weeks alone, at least half a dozen vcs
Speaker 1: have collectively raised over five hundred million dollars. Notable examples
Speaker 1: include Parafy Capitals one hundred and twenty million dollar fund,
Speaker 1: Bortalless Capitals one hundred million dollar fund, Hack Vcs seventy
Speaker 1: seven million dollar fund, and Robot Ventures seventy five million
Speaker 1: dollar fund. Additionally, several funds are actively seeking new capital
Speaker 1: this year. With Dragonfly Capital reportedly aiming for five hundred
Speaker 1: million dollars and already raising half of that amount. This
Speaker 1: is very bullish. This is liquidity that's going to be
Speaker 1: put into the market. Now, not all of it is
Speaker 1: going to go to coins. Some of it's going to
Speaker 1: go to infrastructure companies, right, They're going to get equity,
Speaker 1: private equity and so forth. But the point is these companies,
Speaker 1: these funds are bullish. They're not seeing a bear market
Speaker 1: like some people are calling, Oh, the bull market's over,
Speaker 1: everything's over. No, there's cycles playing out here in the micro,
Speaker 1: but when you look at the macro, we're on track
Speaker 1: to new all time highs. And this is a very
Speaker 1: good sign that the market's maturing, that there's demand, there's interest.
Speaker 1: People see what's on the horizon and they're putting more
Speaker 1: capital into it. And this is obviously just this year.
Speaker 1: Over the years, there's been tons of funds. A sixteen
Speaker 1: Z has raised a billions and many other funds. Guys.
Speaker 1: It's pretty incredible stuff. So very bullish news. And you
Speaker 1: want to watch what these vcs are doing, which projects
Speaker 1: they're investing in, which tokens they're putting their money into,
Speaker 1: because that could be an indication. It's not a guarantee,
Speaker 1: but an indication of how that token may perform. We've
Speaker 1: seen that time and time again. Now, guys, on Friday,
Speaker 1: I told you about the SEC approving the Bitcoin ETM
Speaker 1: options with black Rocks ETF, and that's very bullish. I'm
Speaker 1: going to try to get Nate Jerrasi of the ETF
Speaker 1: Store on this week to talk about it, but he
Speaker 1: shared some additional thoughts that I want to highlight here.
Speaker 1: He says, so once options trading on spot Bitcoin ETF commences,
Speaker 1: expect a flurry of various ETF filings, Bitcoin buffer or
Speaker 1: defined outcome ETFs, Bitcoin premium income or yield max covered
Speaker 1: call ETFs, bitcoin tail risk ETS, bitcoin convexity ets, all
Speaker 1: of it. Now, I don't know what the hell some
Speaker 1: of these are. So that's what I'm going to get
Speaker 1: Nate on. But the point is, guys, we're high heading
Speaker 1: to higher highs and this is going to usher in
Speaker 1: more liquidity, more institutional investors, and all of that is
Speaker 1: very bullish with his acid class. So that's why I'm
Speaker 1: sharing with you. That's why I'm excited, and the bull
Speaker 1: market's not over yet, guys. Now, Fred Thiel, who's the
Speaker 1: CEO Marathon Digital, which is one of the biggest bitcoin
Speaker 1: miners out there. He says, the more entrenched bitcoin becomes
Speaker 1: in the final ancial system, the better. Now we need
Speaker 1: the SEC to exempt all federally chartered banks from SAB
Speaker 1: one to one and then things will really accelerate. BNY
Speaker 1: Mellon is a New York chartered bank and is exempted.
Speaker 1: Hopefully more will follow. So he retweeted the news about
Speaker 1: the options and he said, you know, obviously the next
Speaker 1: big phase would be these banks being able to custody crypto.
Speaker 1: I believe they will eventually. The SEC is going to
Speaker 1: fold SAB one two one was called out by the
Speaker 1: Government Accountability Office as being unlawful. It got repealed by
Speaker 1: Republicans and Democrats in the House and Senate, but Biden,
Speaker 1: who probably got the call from Elizabeth Warren, vetoed that repeal. So, uh,
Speaker 1: guys were winning. The pressures is on the anti crypto army.
Speaker 1: A lot of people are leaving that army. We've seen
Speaker 1: people back out of bills who are aligned with Elizabeth Warne.
Speaker 1: We see many of them are losing in the elections.
Speaker 1: So we're going to get there and we just got
Speaker 1: to keep putting the pressure and fighting. Now, Coinbase announces
Speaker 1: plan to bring cb BTC to Solona's network. So this
Speaker 1: is coinbase is wrapped bitcoin derivative. So they're planning to
Speaker 1: expand this to Solana's network and there's no specific date,
Speaker 1: but pretty big for Solona. And obviously what Coinbase is
Speaker 1: doing here, I think Coinbase is making the right moves.
Speaker 1: You know, Base was a massive hit for them, generating
Speaker 1: a ton of revenue, and I think this the derivative
Speaker 1: of bitcoin here opens up a lot of defian options
Speaker 1: for bitcoin, which you know, obviously is very good for
Speaker 1: the adoption and continued to use on liquidity and all
Speaker 1: these things. Now we got news here that plu network
Speaker 1: says it's tokenizing over one billion dollars in real world
Speaker 1: assets like solar farms, medicaid claims, and mineral rights. Folks,
Speaker 1: I know I sound like a broken record, but I've
Speaker 1: been telling you all for years. We're headed to the
Speaker 1: token economy. Everything running on the blockchain, twenty four to seven,
Speaker 1: markets open three hundred and sixty five days of the year,
Speaker 1: no more opening and closing bell, no more markets closed
Speaker 1: on weekends. It's going to be a truly global market
Speaker 1: place and it's exciting what's taking place. So Plume Network
Speaker 1: plans to have about one point two five billion dollars
Speaker 1: of real world assets tokenized by the fourth quarter. Token
Speaker 1: Holders will be able to earn a yield on different assets,
Speaker 1: and that's including what I mentioned before, minimal right, solar farms,
Speaker 1: and medicaid claims. So incredible stuff, folks, very very bolish
Speaker 1: our final news item here, Travala expands booking support to
Speaker 1: Solana based assets, offers Soul travel rewards. So Travala has
Speaker 1: integrated with Solana, expanding cryptocurrency booking support beyond Ethereum and
Speaker 1: Thebnb chain. Travala's token is also being deployed on Solana
Speaker 1: and the platform will offer a soul trade rewards alongside
Speaker 1: bitcoin and Ava. Incredible adoption, and you're going to see
Speaker 1: more and more of this as businesses go full on
Speaker 1: Web three and understand the benefits of token and token
Speaker 1: rewards and what you can do with that and to
Speaker 1: help keep customers around, because if you offer token rewards
Speaker 1: and so forth, there's real monetary value there versus just
Speaker 1: rewards that may be just limited to certain benefits. While
Speaker 1: tokens have a lot of benefits, right staking Obviously the
Speaker 1: value can go up and all these different things, so
Speaker 1: really exciting stuff, folks. Let me know what you think.
Speaker 1: Leave your thoughts and comments below. Don't forget to sign
Speaker 1: up for my free email newsletter on Substack. It's one
Speaker 1: hundred percent free, filled with crypto insights and knowledge. And
Speaker 1: don't forget to grab a copy of my book, Rethinking Crypto.
Speaker 1: It's available on Amazon and paperback and digital. Grab a
Speaker 1: copy to support the podcast. Grab a few copies for
Speaker 1: your friends and family, give them as gifts this holiday.
Speaker 1: Help them to learn about crypto as we head deeper
Speaker 1: into the bull market and they can be knowledgeable about
Speaker 1: this acid class versus being part of the dumb money
Speaker 1: crowd right part of the herd. And if you bought
Speaker 1: a copy already, guys, please please please leave a rating
Speaker 1: a review on Amazon. It will really help me out.
Speaker 1: Thank you so much. I appreciate you all, and I'll
Speaker 1: talk to you all later