Speaker 1: President Donald Trump has made huge picks for the CFDC
Speaker 1: chairman and the head of the OCC Both candidates are
Speaker 1: pro crypto. I'll give it the details there, and Franklin
Speaker 1: Templeton expands your tokenized acid fund onto the Salona blockchain
Speaker 1: and the cboes filing for staking in the eight theorem ETF.
Speaker 1: I'll give it the details. Let's get into it. Hey, everybody,
Speaker 1: welcome into the Thinking Crypto podcast, your home for cryptocurrency
Speaker 1: news and interviews. I'm your host, Tony Edward. On your
Speaker 1: way in, Please hit that subscribe button as well as
Speaker 1: the thumbsup button and leave a comment below. If you're
Speaker 1: listening on a podcast platform such as Spotify or Apple,
Speaker 1: please leave a five star rating and review. Folks. I
Speaker 1: want to kick it off by talking about bitcoin and
Speaker 1: what we may see next. Analyst Kevin Spenson shared a
Speaker 1: great chart highlighting bitcoin on the weekly and specifically the RSI,
Speaker 1: showing that there's going to be a breakout of the
Speaker 1: downward trend for the RSI and what we've seen historically
Speaker 1: in this bullmarket. When that break happens, bitcoin goes in
Speaker 1: a rally. The most recent was, of course, in Q
Speaker 1: four it went up one hundred percent. Now there could
Speaker 1: be a further downside where the RSI goes a little
Speaker 1: bit down and then it breaks through, But it could
Speaker 1: break through any time in this month. And I've been
Speaker 1: saying that I believe the latter half of February is
Speaker 1: going to be bullish. I think the markets start to rally, so,
Speaker 1: Kevin said. Weekly RSI breakouts are among the most bullish
Speaker 1: and reliable signals. Sentiment is always at the lowest point
Speaker 1: when they happen, and what we've been seeing is the
Speaker 1: sentiment has returned to fear. People are getting fearful. Oh no,
Speaker 1: this is happening to Macro. In addition, they're getting frustrated
Speaker 1: and bored. This is the worst bullmarket ever. You just
Speaker 1: start to see these comments and you see the frustration,
Speaker 1: and because I've been here since twenty sixteen, I noticed
Speaker 1: it right away. And I'm not caught up in these
Speaker 1: type of things because I know the bullmark is not
Speaker 1: over based on different indicators, data, signals, and much more.
Speaker 1: And the charts here are aligning for the next move guys.
Speaker 1: And like I said, I think the latter half of February,
Speaker 1: so maybe we got a week or so or more
Speaker 1: a little bit more before the bitcoin starts to bounce. Now,
Speaker 1: that doesn't mean it's going to storm out the gates
Speaker 1: and hit one hundred and twenty thousand dollars in a week, right,
Speaker 1: It's going to be in phases as we've seen historically.
Speaker 1: But if we get a breakout there and the bulls
Speaker 1: get back into control, you know what happens, guys, and
Speaker 1: Bitcoin leads the market and then the all coins will follow. Also,
Speaker 1: speaking of macro factors, I've been telling you guys about
Speaker 1: global liquidity and what the FED may be doing. Well, China,
Speaker 1: look at this, they continue to inject liquidity. We just
Speaker 1: got news that China Central Bank has injected one hundred
Speaker 1: and twenty five point eight billion yu wan via seven
Speaker 1: day reverse repos. So we know the name of the
Speaker 1: game when it comes to the FIAT system is they
Speaker 1: have to continue to print. They have to continue to
Speaker 1: raise their debt ceiling. This is how the Fiat system works,
Speaker 1: and it drives asset prices higher, crypto stocks, real estate,
Speaker 1: precious metals, and so forth. I've been seeing over the
Speaker 1: past couple of years that we are in a macro
Speaker 1: bull market for all acid classes, but nothing moves like crypto.
Speaker 1: Crypto's the fastest horse in the race, like Paul Tudter
Speaker 1: Jones said, So eventually you're going to see the macro
Speaker 1: align to the charts, and the charts are going to
Speaker 1: turn bullish, and then we're going to continue to bull
Speaker 1: run and then people will forget this painful consolidation phase.
Speaker 1: And you learn from these moments. It's important to learn
Speaker 1: from them because they're great teachers, and it helps build
Speaker 1: your market understanding and how to train your emotions because
Speaker 1: the emotional part of this is what's tough for many
Speaker 1: people now. Fetcher Jerome Powell testified before Congress again today
Speaker 1: and he said the Federal Reserve won't block banks from
Speaker 1: serving legal crypto customers. So the language is changing big time.
Speaker 1: We've been talking about the FDIC saying they're going to
Speaker 1: roll back their restrictive policies, and of course the SEC
Speaker 1: repeals saw one two one just about a month ago,
Speaker 1: so banks can be able to participate with crypto. So
Speaker 1: if the Federal Reserve is saying hey, it's okay, they
Speaker 1: can do it, you know what's coming. So I expect
Speaker 1: this year banks are going to adopt crypto in many
Speaker 1: different ways. They're going to build financial products, They're going
Speaker 1: to launch stable coins and much more so. These setup
Speaker 1: for the continuation of the bull market is here, folks. Now.
Speaker 1: Today Donald Trump announced two nominations, one for the CFTC
Speaker 1: and the other for the OCC. For the CFTC, he
Speaker 1: nominated Brian Kintents. Many of you may recall I interviewed
Speaker 1: him a couple of times over the years. He was
Speaker 1: a former CFDC commissioner. He currently works at a sixteen Z.
Speaker 1: But he's going to be the chairman, he tweeted out,
Speaker 1: it has been my great honor to be nominated by
Speaker 1: President Donald Trump as the next chairman of the CFTC,
Speaker 1: where I had served as a commissioner in his last administration.
Speaker 1: The CFDC plays a critical role in maintaining robust hedging
Speaker 1: and price discovery markets that already envy of the globe.
Speaker 1: He continues and so forth. But he's a great pick.
Speaker 1: If you recall my interview with him, very smart, understands
Speaker 1: the market very well, and I interviewed him I think
Speaker 1: it was my first interviewer of my second back in
Speaker 1: September twenty twenty one, and where he made a big
Speaker 1: statement that he absolutely despises regulation through enforcement. And this
Speaker 1: was the time Genser was attacking the industry right and
Speaker 1: he's another pro crypto person that's really going to help
Speaker 1: push things forward. And speaking of pushing things forward, Eleanor
Speaker 1: Tarot of Fox businesses reporting that with digital assets becoming
Speaker 1: a top priority for regulators, the SEC and the CFDC
Speaker 1: are currently discussing ways in which they can effectively collaborate
Speaker 1: on crypto regulation. Fox Business has learned. One idea is
Speaker 1: to reinstate the charter for the CFDC SEC Joint Advisory Committee,
Speaker 1: which was established in twenty ten to provide a vehicle
Speaker 1: for discussion on emerging regulatory issues that affect both agencies.
Speaker 1: The committee has been inactive since twenty fourteen. So we
Speaker 1: absolutely need collaboration between these agencies and to iron out
Speaker 1: all the details and who's going to handle what and
Speaker 1: get legislation through. And of course Hester Purs is heading
Speaker 1: up the Crypto Task Force, so things are up and
Speaker 1: running there. We just reported yesterday about the pausing of
Speaker 1: lawsuits and cases like the Binance case. The SEC and
Speaker 1: Finance agreed they're going to do a sixty day pause
Speaker 1: and the same could happen for ripple coinbas cracking and
Speaker 1: even as Paul Atkins comes in at the SEC as chairman,
Speaker 1: we could see a lot of these non fraud cases
Speaker 1: get dropped and settled and all these things. So exciting times, folks.
Speaker 1: The stars are aligning here. We have the right people
Speaker 1: being put into office. We're starting to see action. So
Speaker 1: things are heating up and they're moving in the right
Speaker 1: direction now. Trump also picked former bit Fury exit executive
Speaker 1: Jonathan Gould to lead the OCC, signaling ongoing shift to
Speaker 1: crypto friendly regulators. So another big pick, another pro crypto pick.
Speaker 1: So Jonathan Goule was previously chief legal officer at bit Fury,
Speaker 1: and before that he was Senior Deputy Controller and chief
Speaker 1: Counsel at the OCC, so he has a background at
Speaker 1: the OCC. So Trump's reported move to tap Goule to
Speaker 1: lead the OCC will help the agency to work with
Speaker 1: lawmakers to move crypto bills, said Blockchain Association's Ron Hammond. Now,
Speaker 1: remember Brian Brooks was at the OCC years back, and
Speaker 1: he gave the green light to banks to be able
Speaker 1: to hold crypto. But an Elizabeth Warren and her clown
Speaker 1: army came in right Sharrod Brown and all these guys
Speaker 1: and put a stop to that. But now we're getting
Speaker 1: exposed for trying to unbank the crypto industry Operation Choke
Speaker 1: point two point zero. So now we're going to have
Speaker 1: someone who's pro crypto back at the OCC. So this
Speaker 1: side of the agency world is going to help push
Speaker 1: crypto go through, guys. So this is what I'm talking
Speaker 1: about with the stars coming into alignment here, it's very bullish.
Speaker 1: I'm so bullish on this year. I've been telling you guys,
Speaker 1: we are in the macro fifth wave and there's going
Speaker 1: to be volatility. There's going to be chopped along the way.
Speaker 1: That's how it is. If you've experienced previous bull markets, right,
Speaker 1: and yes there are some macro headwinds, but they're not permanent.
Speaker 1: There's short term and there has been no invalidation of
Speaker 1: the market. And then you have the government and the
Speaker 1: industry and alignment legislation, the proper people coming into place,
Speaker 1: so things are moving in the right direction and all
Speaker 1: of this you know, will culminate in more adoption, higher
Speaker 1: prices and so forth. Now, the CBOE bz X exchange
Speaker 1: files proposed change to allow staking for twenty one shares
Speaker 1: eat theom ETF. This is a big component to Etheroreum.
Speaker 1: The ability to stak and earn those passive rewards, well,
Speaker 1: it's not available in the ETF right because Gainster, remember
Speaker 1: he was calling staking a security, who's calling stable coins
Speaker 1: a security? Who was calling everything a security? But we
Speaker 1: know that nonsense has ended. So I think you're going
Speaker 1: to see the SEC this year green light staking and
Speaker 1: allowing exchanges and so forth to do it. And it
Speaker 1: makes sense that they're going to add it into the
Speaker 1: ETHEROMYTF so big news. And remember the CBOE b z X.
Speaker 1: They recently filed a nineteen b dash FURS for the
Speaker 1: XRP ETF and others, so they have been doing a
Speaker 1: lot of work here trying to get things through. So
Speaker 1: the ETF race continues here, guys, and Bloomberg's James Seyffert
Speaker 1: alluded to this filing being the first ETF to file
Speaker 1: with the SEC to allow for staking. So you can
Speaker 1: imagine the other competitors are going to follow suit right
Speaker 1: game three. No one wants to get left behind. And
Speaker 1: I think it's going to attract a lot of capital
Speaker 1: to Ethereum's ETF because people can earn the passive rewards,
Speaker 1: which is a great benefit. I personally stake eth I
Speaker 1: steake Salona Cardona as well algorand anything that's proof of stake.
Speaker 1: I'm earning the passive rewards, especially if I'm holding the tokens.
Speaker 1: So that's a great benefit of crypto now, guys, quicker
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Speaker 1: be in a description. Okay, folks, we got big news
Speaker 1: coming out from Wall Street giant Franklin Templeton. They have
Speaker 1: expanded their five hundred and ninety four million dollar money
Speaker 1: market fund to Salona. So similar to black Rock and
Speaker 1: these guys, Franklin Templeton has been tokenizing, putting money market
Speaker 1: funds on the blockchain. Many of you may recall my
Speaker 1: interviews with Sandy Call who heads up digital assets at
Speaker 1: Franklin Templeton, and I've interviewed a couple of times. They
Speaker 1: are doing a lot, a lot of great things, guys. Well,
Speaker 1: they're expanding to Solana. They highlighted here that Benji, which
Speaker 1: is the name of the token I is one, is
Speaker 1: now on Solana. So incredible adoption. To watch these Wall
Speaker 1: Street legends, these these tratify incumbents now jumping all in
Speaker 1: on crypto, expanding on multiple blockchains because they understand the
Speaker 1: future is multi chain and there's going to have to
Speaker 1: be into ropability. So just huge, huge adoption news here. Now,
Speaker 1: a report coming out from van X says that state
Speaker 1: level bitcoin reserve bills could drive twenty three billion dollars
Speaker 1: in buying. So we've been seeing a flurry of states
Speaker 1: filing or introducing their bitcoin strategic Reserve bills. I had
Speaker 1: reported to you guys last week that Utah their version
Speaker 1: made it through their house and it's now headed up
Speaker 1: to the Senate, and you could see these states start
Speaker 1: to buy bitcoin. Guys. We know there's a bill on
Speaker 1: the federal level, so imagine the states just getting their
Speaker 1: bills through and starting to buy on their It would
Speaker 1: be incredible. And many of them may go the route
Speaker 1: of buying ETFs, or they may hold it directly through
Speaker 1: a custodian of course. So van K they're saying this
Speaker 1: could drive twenty three billion dollars in buying, and it
Speaker 1: makes sense as bitcoin obviously is a better version of gold.
Speaker 1: You know, many consider it to be digital goal, which
Speaker 1: enhance attributes and properties better than gold itself, So watch
Speaker 1: out for this. I'm surprised how these bills are making
Speaker 1: it through in the momentum they have, so it don't
Speaker 1: be surprised if states get this done first before the
Speaker 1: federal government, which sometimes usually the case. But nevertheless, very
Speaker 1: interesting and as you can imagine, it will start with
Speaker 1: bitcoin and then as folks get more comfortable, it will
Speaker 1: go to other coins and things along those lines. Now,
Speaker 1: final news item here. SEC Commissioner Hester Perce weighed on
Speaker 1: mean coins. She was interviewed, I think on Bloomberg and
Speaker 1: here's the headline. Many meme coins likely fall outside the
Speaker 1: SEC's jurisdiction, so this is interesting. She's saying, Look, meme
Speaker 1: coins may have nothing to do with the SEC. And
Speaker 1: it could be because the nature of meme coins, because
Speaker 1: they're almost fly by night, right. They could pop up
Speaker 1: tonight and then be gone two days later. Right. We
Speaker 1: saw that with Dave Portnoy Hawktua and all these crazy
Speaker 1: meme coins. Even Trumps it pumped so hard, but you
Speaker 1: go look at it right now, it's down. Malania coin
Speaker 1: is like dead, right, So meme coins, I think is
Speaker 1: like going to Vegas. It is pretty much gambling. It's
Speaker 1: not investing. In my opinion, it's like playing the lottery,
Speaker 1: going to the casino. That's what I liken it too,
Speaker 1: and I tell people. So it's interesting that she said this,
Speaker 1: and she's saying that Congress is going to have to
Speaker 1: give the guidance here, and boy do they have to
Speaker 1: give guidance. Where does this fall? Is like the gambling
Speaker 1: industry that has to handle this. I don't know, but
Speaker 1: there needs to be some sort of regulation here, because look,
Speaker 1: even casinos and betting sites and so forth are regulating.
Speaker 1: There's regulations there, right, because you don't want the casinos
Speaker 1: robbing people, rigging games and so forth. Now we know
Speaker 1: the house always wins, that they're in a business and
Speaker 1: making money, but we don't want them outright scamming people
Speaker 1: like some of these meme coining people. They start up
Speaker 1: some memes, they put it out there, they pump it
Speaker 1: a lot of people buying, and then they rug you
Speaker 1: and then you lose your money. So maybe the SEC.
Speaker 1: This is not so much the SEC's job, another agency.
Speaker 1: I don't know. The gambling industry. I have no idea,
Speaker 1: but we'll have to see maybe it's a combination of
Speaker 1: the SEC, CFTC and whatever agency handles gambling, honestly, so
Speaker 1: we'll have to see. But I was surprised that she
Speaker 1: said it has nothing to do with us. Here's a quote.
Speaker 1: There are lots of people introducing meme coins right now,
Speaker 1: and facts and circumstances matter. Any of the mean coins
Speaker 1: that are out there probably do not have a home
Speaker 1: in the SEC under our current set of regulations. So
Speaker 1: maybe Congress updates of regulations where they do have to
Speaker 1: review this. I don't know. This is a tough one,
Speaker 1: but guys, that's the news. Let me know what you think.
Speaker 1: Big nominations by President Trump procrypto folks coming into these agencies,
Speaker 1: so very good sign for the industry and the ASCID class.
Speaker 1: Let me know what you think. Leave your thoughts and
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Speaker 1: appreciate you all and I'll talk to you all later