WEBVTT

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<v Speaker 1>October seventh is the deadline for the SEC to appeal

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<v Speaker 1>the ruling from Judge Tours in the Ripple XRP lawsuit

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<v Speaker 1>and is rl usd the Ripple stable coin bad for XRP.

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<v Speaker 1>I'll share some details I learned today. Let's get into it. Hey, everybody,

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<v Speaker 1>welcome into the Thinking Crypto podcast. You're home for cryptocurrency

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

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<v Speaker 1>way in, please hit that subscribe button as well as

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

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

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

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<v Speaker 1>bitcoin pull back a bit. And this is what I've

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<v Speaker 1>been telling you guys for weeks now. Yes, it's really

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<v Speaker 1>nice to see bitcoin breaking out and hitting sixty five

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<v Speaker 1>sixty six thousand, but I've been saying, ad nauseum, be

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<v Speaker 1>cautiously optimistic because we don't know if the bottom is

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<v Speaker 1>officially in yet, and Bitcoin has to prove itself. It

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<v Speaker 1>has to show us the strength, and the rally has

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<v Speaker 1>to prove itself. And of course we've got to pull back. Now.

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<v Speaker 1>This is on the micro, on the macro, you guys

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<v Speaker 1>know I am super bullish Q four. I believe bitcoin

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<v Speaker 1>will hit new all time highs. It will break past

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<v Speaker 1>seventy three thousand dollars. I could be wrong, but I

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<v Speaker 1>believe there's a high probability of that happening. And as

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<v Speaker 1>I've been also highlighting, the DXY could find some strength

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<v Speaker 1>in the short term before ultimately breaking down below one hundred.

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<v Speaker 1>I've been saying that for a long time, right But

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<v Speaker 1>as always patients, this is why we have to exercise

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<v Speaker 1>patients when it comes to investing. We have to form

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<v Speaker 1>a thesis with the facts and what the data and

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<v Speaker 1>the trends and the fundamentals are telling us, and be patient.

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<v Speaker 1>Let these things play out and your patience will be rewarded.

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<v Speaker 1>And if the price volatility bothers you just step away

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<v Speaker 1>from it, take a break, don't stare at it, you

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<v Speaker 1>know what I mean. I do that sometimes I do

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<v Speaker 1>a bit of a digital diet. I step away from

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<v Speaker 1>the markets, I step away from looking at the price

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<v Speaker 1>and turning off social media. So it's important to do

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<v Speaker 1>that for your mental health and to keep a straight

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<v Speaker 1>mind when it comes to investing, because markets can play

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<v Speaker 1>with your emotions and I've learned that over the years,

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<v Speaker 1>and I'm not saying I'm perfect at it, but I've

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<v Speaker 1>But it's like a muscle, right, you keep exercising that

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<v Speaker 1>muscle and you get better, you become more experienced, you

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<v Speaker 1>build thicker skin. So when you see the market pull back,

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<v Speaker 1>you're like, oh, whatever, you know, wait till it comes

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<v Speaker 1>back up and then we can start focusing on it again.

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<v Speaker 1>So I hope you understand that. I hope this information

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<v Speaker 1>is helpful. This is what I've learned over the years

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<v Speaker 1>since I entered the crypto market in twenty sixteen. Now, guys,

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<v Speaker 1>let's talk about some news around SEC versus Ripple. October

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<v Speaker 1>seventh is the deadline for the SEC to challenge the

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<v Speaker 1>July twenty twenty three ruling by Judge Analsa Torus that

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<v Speaker 1>deemed some of the Ripples sales of XRP violated securities laws.

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<v Speaker 1>So remember Judge Torres rule that institutional sales fell into

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<v Speaker 1>that securities category while secondary market sales on exchanges are

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<v Speaker 1>not securities, and that the token itself intrinsically is not

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<v Speaker 1>a security. So the big question that everybody wants to

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<v Speaker 1>know is will the SEC appeal and if they do appeal,

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<v Speaker 1>will that impact the price because we see xcorp is

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<v Speaker 1>starting to break out on the charts. Nothing to call

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<v Speaker 1>home about, but it is breaking out, and the crypto

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<v Speaker 1>market is starting to build momentum, and as Bitcoin heads

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<v Speaker 1>to new all time highs, the liquidity will then start

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<v Speaker 1>to flow down to the all coins. So we want

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<v Speaker 1>to see XRP experience a true bull market since the

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<v Speaker 1>last one of twenty seventeen to twenty eighteen, where there

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<v Speaker 1>was nothing hindering it and it did really well. Now

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<v Speaker 1>I'm diversified. I hold Bitcoin, Salona, Ethereum, XRP, and so forth,

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<v Speaker 1>so this is not my only horse in the race.

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<v Speaker 1>I've been telling people for years diversify, diversify, diversify, because

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<v Speaker 1>if you put all your eggs in one basket, you

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<v Speaker 1>never know what could happen, and then you miss out

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<v Speaker 1>on gains. So Eleanor Turt of Fox Business did a

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<v Speaker 1>great write up on this. Let me share some details

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<v Speaker 1>and what I think the impact may be on the

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<v Speaker 1>price if the sec does appeal. So the Securities in

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<v Speaker 1>Exchange Commission has until October seven to decide if it

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<v Speaker 1>will challenge the July twenty twenty three ruling by US

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<v Speaker 1>district judge and Alsa trus that deemed only some of

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<v Speaker 1>the ripple sales of XRP cryptotoken violated securities laws, a

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<v Speaker 1>decision that has garnered criticism from securities lawyers and other

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<v Speaker 1>federal judges. That said, the ruling is considered a major

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<v Speaker 1>legal victory for the still nasson crypto industry, as it

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<v Speaker 1>attempts to prove that the emerging asset class is not

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<v Speaker 1>in violation of US securities laws as the SEC beliefs.

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<v Speaker 1>It has also become a cornerstone in the legal strategies

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<v Speaker 1>of other crypto entities like exchanges, Coinbase, Finance, and Kraken,

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<v Speaker 1>which are currently being sued by the Commission for allegedly

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<v Speaker 1>selling unregistered securities. That's why former SEC lawyers who spoke

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<v Speaker 1>with Fox Business say an appeal as likely as the

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<v Speaker 1>agency and its crypto skeptic chairman Gary Genser are determined

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<v Speaker 1>to assert jurisdiction over the two trillion dollar industry and

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<v Speaker 1>don't want to endorse a dual system that the torre's

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<v Speaker 1>opinion could create in the securities market. Here's a quote.

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<v Speaker 1>I believe the SEC will appeal. I would think it

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<v Speaker 1>would not want to have the programmatic trading analysis stand

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<v Speaker 1>said Mark Powers, a blockchain professor at the Florida International Universe,

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<v Speaker 1>the College of Law and former SEC enforcement attorney. It

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<v Speaker 1>creates inconsistency in ruling by district court judges and in

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<v Speaker 1>the Second Court. Now it's important to highlight here this

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<v Speaker 1>is a former SEC official. So I've had like Mark Fagel,

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<v Speaker 1>who's a former SEC director, a regional director, and he

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<v Speaker 1>also agrees with it. So I have to say there's

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<v Speaker 1>some bias here because he's a former SEC guy. And

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<v Speaker 1>I've noticed a lot of these guys. You know, they

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<v Speaker 1>stand with the SEC no matter what. If the SEC

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<v Speaker 1>is doing the wrong thing, they will try to cover

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<v Speaker 1>for the agency. And I get it, you know, it's

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<v Speaker 1>kind of like you work there. It's a bit of

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<v Speaker 1>a club and they want to paint the SEC in

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<v Speaker 1>the best light as possible. Unfortunately, Gary Ginster is burning

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<v Speaker 1>the house down with his political nonsense, lying, backstabbing and

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<v Speaker 1>much more. And here's the thing, guys, I think the

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<v Speaker 1>SEC will appeal and it's not because the SEC as

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<v Speaker 1>an agency feels this way. It's scumbag regulator Gary Ginster

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<v Speaker 1>that feels this way. I believe Gary's out to do

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<v Speaker 1>whatever he wants. He's an agent of chaos. He's been

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<v Speaker 1>weaponized by the tradifying comments to come in and kill

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<v Speaker 1>these crypto startups, not kill crypto. So he's just going

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<v Speaker 1>to do whatever he wants. And the reason why I

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<v Speaker 1>feel that way is that look at all the political

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<v Speaker 1>pressure that's been put on Gary, Donald Trump calling him out,

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<v Speaker 1>the industry, Democrats and Republicans coming together to repeal SAB

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<v Speaker 1>one two one to pass the FIT twenty one bill

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<v Speaker 1>out the House. Top Democrats like Chuck Schumer supporting crypto.

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<v Speaker 1>Yet Gary come at the beginning of September issued a

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<v Speaker 1>wells notice the Open Sea that they went after e

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<v Speaker 1>Toro and they're going after anything now. So he doesn't

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<v Speaker 1>care and that is why we need Congress to pass

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<v Speaker 1>the legislation because he doesn't care about the criticism. He

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<v Speaker 1>doesn't care about being embarrassed and called out by the courts.

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<v Speaker 1>So I feel he's going to appeal. The question is

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<v Speaker 1>if they do appeal, will it roeblock the XRP price

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<v Speaker 1>from hitting its potential high in this bullmarket cycle. On

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<v Speaker 1>one hand, I think there will be short term volatility,

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<v Speaker 1>but I think overall, I don't think it's going to

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<v Speaker 1>affect xrpce price. Here's why. Even after the Ripple lawsuit

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<v Speaker 1>in twenty twenty December twenty twenty, xrpiece still ran up

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<v Speaker 1>to near two bucks. But what happened the exchanges started

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<v Speaker 1>delisting it, and then the price started collapsing, right because

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<v Speaker 1>no one can access the token, people started selling. But

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<v Speaker 1>now that Ripple's kind of gone through the fire, you know,

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<v Speaker 1>no one's scared of the SEC anymore as far as

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<v Speaker 1>getting in walls known as their lawsuit. In fact, the

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<v Speaker 1>industry's countersuing and they're doing proactive lawsuits. So I think

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<v Speaker 1>that aspect the fear that was there, oh no, the

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<v Speaker 1>SEC's coming after US is gone, and many investors are

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<v Speaker 1>seeing the chink in the armor of the SEC and

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<v Speaker 1>Gary Genser. So I don't think that fear is going

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<v Speaker 1>to be there for the long term of the bull market.

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<v Speaker 1>But short term, if the you know, the news breaks,

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<v Speaker 1>oh the SEC is going to appeal, xrps price could

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<v Speaker 1>see a lot of volatility. And remember xrpiece fully relisted

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<v Speaker 1>on all exchanges in the United States and globally, and

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<v Speaker 1>in fact, there's more exchanges than now list the token,

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<v Speaker 1>and in fact we saw a grayscale launch and institutional

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<v Speaker 1>trust for XRP recently, so there's a lot of momentum.

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<v Speaker 1>There's a different narrative, there's a different feeling versus what

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<v Speaker 1>took place in twenty twenty. So I still think XRP

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<v Speaker 1>can run. Personally, if you look at the chart using

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<v Speaker 1>a Fibonacci model, I could see XRP getting to just

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<v Speaker 1>over five bucks, maybe at its highest about six dollars.

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<v Speaker 1>But some people, some analysts, are calling for eight dollars.

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<v Speaker 1>So you know, one user tweeted out here at chart

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<v Speaker 1>showing that his all time high target for this cycle

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<v Speaker 1>is eight bucks. Now, we are not talking guarantees here.

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<v Speaker 1>These are probabilities, and I will start to take profits

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<v Speaker 1>on XRP as it crosses four dollars and then to

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<v Speaker 1>five and so forth, because I don't know how high

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<v Speaker 1>this is going to go. I'm not saying I'm selling

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<v Speaker 1>all my XRP at those prices, but I'm going to

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<v Speaker 1>start to ladder out. And this is important because no

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<v Speaker 1>one can call the top hoolks. No one can call

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<v Speaker 1>the top if they know what the top's going to be,

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<v Speaker 1>ask them for the winning lottery numbers next week. So

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<v Speaker 1>you can go play the lottery and make money that way.

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<v Speaker 1>It'll be a hell of a lot easier, right, So

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<v Speaker 1>just understand that you have to dolo coast average out

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<v Speaker 1>as a dolo coross average in. So that's what I'm

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<v Speaker 1>expecting for XRP. And like I said, short term volatility

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<v Speaker 1>if the SEC appeals and the news makes the rounds.

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<v Speaker 1>But long term, I don't think this affects the price

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<v Speaker 1>unless there's another major issue, which I'm not anticipating, because

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<v Speaker 1>Ripple continues to build. They're launching the r l US,

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<v Speaker 1>the stable coin, enabling smart contracts and so forth. And

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<v Speaker 1>in fact, guys, today I was at MAInet and I'm

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<v Speaker 1>going to be at MAInet tomorrow as well. That's Missari's

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<v Speaker 1>main Net conference happening in New York City. I met

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<v Speaker 1>Paul Gridwall, chief legal officer at Coinbase, and a bunch

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<v Speaker 1>of other people who have interviewed and known the industry.

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<v Speaker 1>So I'll be there again tomorrow. But I spoke to

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<v Speaker 1>a former Ripple employee and I can't disclose that person's name,

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<v Speaker 1>but let me share what I tweeted out today to everybody.

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<v Speaker 1>I just spoke to a former Ripple employee at MAInet.

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<v Speaker 1>This person was part of the team that developed Ripple's

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<v Speaker 1>odel product. I asked them about the upcoming rl USD

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<v Speaker 1>stable coin and whether they think it could negatively affect XRP.

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<v Speaker 1>They mentioned that they had advocated for Ripple to launch

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<v Speaker 1>a stable coin years ago. Paraphrasing their response, they said,

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<v Speaker 1>the stable coin will actually be beneficial for XRP, as

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<v Speaker 1>it will be paired with it. XRP will help provide

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<v Speaker 1>the stable coin with greater liquidity since it is available

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<v Speaker 1>in all exchanges. Additionally, this pairing will help stabilize the

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<v Speaker 1>stable coin and prevent depegging. They also stated that the

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<v Speaker 1>stable coin will open up new use cases in for

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<v Speaker 1>x and much more so. I heard it directly from

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<v Speaker 1>the horse's mouth. Had a kind of off the record conversation,

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<v Speaker 1>so to speak, you know, not disclosing the person who

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<v Speaker 1>it is, but I know the person very well. I

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<v Speaker 1>know that they worked at Ripple, so just letting you

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<v Speaker 1>guys know. And this is interesting. I know there's been

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<v Speaker 1>a lot of talks about how this could be negative

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<v Speaker 1>for Ripple, but I don't believe so because here's the

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<v Speaker 1>thing people get caught up too much in is the

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<v Speaker 1>token itself being used. That is important. Don't get me wrong.

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<v Speaker 1>The token should be used in certain ways, but remember

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<v Speaker 1>Metcalp's law, and this applies to all blockchains out there,

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<v Speaker 1>ethererem and so forth. The more building that you have,

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<v Speaker 1>the more activity, the more beneficial it is for the

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<v Speaker 1>native token. Many folks don't understand that concept. I've often

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<v Speaker 1>shared the example of Facebook. Facebook was worth millions of

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<v Speaker 1>dollars before they even launched an ad or had a

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<v Speaker 1>monetization strategy. Right Why Because there was people on the

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<v Speaker 1>network using it, and there was activity, there was adoption,

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<v Speaker 1>and the more adoption, the more utility. The more building

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<v Speaker 1>that a network gets, the stronger it becomes, and the

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<v Speaker 1>more valuably becomes. What's different this time around versus Facebook

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<v Speaker 1>is there's a native token, and that native token is

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<v Speaker 1>used to grease the network, to help pay for fees

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<v Speaker 1>and transactions and so forth. Token is going to raise

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<v Speaker 1>in value because I've often shared in my newsletters the

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<v Speaker 1>developer activity on blockchains, and there's also daily active users,

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<v Speaker 1>the monthly active users. These are metrics that I know

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<v Speaker 1>a lot of folks don't pay attention to, but I

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<v Speaker 1>paying I'm paying attention to it. And this is this

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<v Speaker 1>is going to benefit Ripple. I don't think this is

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<v Speaker 1>going to take away anything from XRP. I think it's

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<v Speaker 1>a different product, and while it may be a bit

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<v Speaker 1>of a departure from strategies they had in mind years ago,

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<v Speaker 1>I still think it's beneficial. And that's just my take

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<v Speaker 1>on it. I could be wrong. So I'm always open

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<v Speaker 1>to hearing feedback, and I would love to hear what

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<v Speaker 1>you guys think if you can leave your thoughts in

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<v Speaker 1>the comment section. So I wanted to share that with

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<v Speaker 1>you guys. And here's something else I wanted to highlight

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<v Speaker 1>from Jake Trawski. Apparently crypto companies and founders are thinking

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<v Speaker 1>about geofencing the United States as a compliance strategy. I

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<v Speaker 1>don't know how many of you know about geofencing. This

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<v Speaker 1>is something if you're in the marketing field digital marketing,

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<v Speaker 1>you may know about it. It's where you put up

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<v Speaker 1>blocks on IP addresses and from people who are in

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<v Speaker 1>a certain region. So maybe based on if you don't

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<v Speaker 1>have a license to operate in there, you can block

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<v Speaker 1>certain IP addresses and you know, if the user is

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<v Speaker 1>coming from the United States in this case, they won't

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<v Speaker 1>be able to use their respective platform, app or whatever

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<v Speaker 1>it may be. And it's sad that these businesses have

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<v Speaker 1>to do this. This is why we need clear regulations, guys,

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<v Speaker 1>and we have to keep calling up our representatives. You

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<v Speaker 1>get a vote accordingly. Here Brian Armstrong ce have Coinbase

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<v Speaker 1>tweeted out just today elections getting close. Make sure you

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<v Speaker 1>are registered to vote, and he highlighted Stand with Crypto

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<v Speaker 1>you know, which is a nonprofit organization dedicated to uniting

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<v Speaker 1>global crypto advocates. Go on there you can see who's

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<v Speaker 1>pro crypto and who's not. Now, speaking of pro crypto,

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<v Speaker 1>John Deaton running against Elizabeth Warren. John is of course

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<v Speaker 1>battling crypto's greatest enemy because she's the one that controlled

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<v Speaker 1>Gary Ginster. Remember that he tweeted out today. Tonight is

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<v Speaker 1>the deadline. Friends. We need your support to finish the

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<v Speaker 1>month strong. Chip into whatever you can today by going

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<v Speaker 1>to John deatonfirst Senate dot com slash donate So guys,

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<v Speaker 1>if you haven't donated as yet, please go donate. And

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<v Speaker 1>I've already donated, so go check it out. Guys, support John.

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<v Speaker 1>He's obviously procrypto and he's balanced. He's not like an

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<v Speaker 1>extremist on either the left of the right. He's running

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<v Speaker 1>as a Republican, but he's not any type of extremists,

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<v Speaker 1>so check out John's policies and his things, of course,

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<v Speaker 1>but he's trying to unseat Elizabeth Warrens, so let's make

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<v Speaker 1>it happen now, guys. Quick word from our sponsor, and

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<v Speaker 1>that is Gemini, which is a great crypto exchange. You

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<v Speaker 1>can buy us all trade crypto. They have a fully

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<v Speaker 1>functional exchange, they have staking, they have a credit card,

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<v Speaker 1>they have a stable coin called Gemini Dollar. They also

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<v Speaker 1>have a derivative platform where you can trade bitcoin and

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<v Speaker 1>all coins with perpetual contracts. And if you sign up

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<v Speaker 1>using my link guys, and you trade one hundred dollars

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<v Speaker 1>in bitcoin, you can get fifteen dollars in bitcoin for free.

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<v Speaker 1>So check out the link in the description and don't

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<v Speaker 1>forget to sign it for my free email newsletter on substack.

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<v Speaker 1>And also grab a cop in my book, Rethinking Crypto.

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<v Speaker 1>It's available on Amazon. If you bought a copy, you ready,

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<v Speaker 1>please leave a rating a review. It will really help

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<v Speaker 1>out my rankings. Thank you, guys, and I'll talk to

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<v Speaker 1>you all later.