Speaker 1: Hey everyone, Welcome into the Thinking Crypto podcast. You're home
Speaker 1: for cryptocurrency news and interviews. I'm your host, Tony Edward.
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Speaker 1: sure to follow folks. We have to start with the
Speaker 1: price of bitcoin, because right now it is trading below
Speaker 1: sixty six thousand dollars. So we are seeing a downward
Speaker 1: move here for bitcoin, and it appears that the rising
Speaker 1: channel we were in has been invalidated. We were certainly
Speaker 1: looking for Bitcoin to go up to eighty k maybe
Speaker 1: a little bit higher, but of course no move to
Speaker 1: new all time highs. This was simply a relief rally
Speaker 1: and then a rollover to lower lows. Now I have
Speaker 1: to say that we got to let this complete, or
Speaker 1: let the week complete, and see what the weekly close
Speaker 1: brings us. It could still be on the table, but
Speaker 1: the probability of us continuing higher is getting lower. So
Speaker 1: just be mentally prepared if Bitcoin were to do another
Speaker 1: leg down and dump to the fifty ks, at which
Speaker 1: point I think it finds the bottom between fifty to
Speaker 1: let's say, fifty four thousand dollars. I actually wrote about
Speaker 1: this in today's newsletters to make sure you check that out.
Speaker 1: It's one hundred percent free, but I have some charts
Speaker 1: and things along those lines in there. So we got
Speaker 1: to be careful here because you know, they could be
Speaker 1: further downside. Obviously, there's a lot of macro factors with
Speaker 1: the economy, oil prices, of the war in Iran. Not
Speaker 1: to mention, the stock market itself is showing a ton
Speaker 1: of weakness. One good sign is that the SMP five
Speaker 1: hundred is touching the over soul zone, so we could
Speaker 1: see a bounce, a relief rally, but not to new highs.
Speaker 1: Then it continues to roll over and if it doesn't
Speaker 1: get a bounce, maybe maybe that helps Bitcoin to continue
Speaker 1: its move higher again not too new highs, and then
Speaker 1: we hope alquins can follow. But right now not looking good,
Speaker 1: and we're gonna have to wait and see how Sunday
Speaker 1: closes and what next week brings us. Okay, folks, we
Speaker 1: have an update on Morgan Stanley's bigcoin ETF and the
Speaker 1: fee they're gonna charge. Well, they are looking to compete
Speaker 1: because they set the fee at zero point one four percent,
Speaker 1: which is the lowest in the market once approved. So
Speaker 1: it hasn't been fully approved yet, but they're looking to
Speaker 1: make a splash here, so certainly going up against the
Speaker 1: competitors like your black Rocks and others. So we've been
Speaker 1: talking about this that Morgan Stanley, you know, a bit
Speaker 1: late to the game, after Blackrock, Fidelity and all the
Speaker 1: other big Wall Street firms took their position, but nevertheless,
Speaker 1: better late than never, and even the naysayers like Vanguard
Speaker 1: and others are jumping in. Here's what James Seyfert's ETF
Speaker 1: analysts at Bloomberg had to say about the news. He said, Wow,
Speaker 1: we have the fee on Morgan Stanley's spot bigcoin etf
Speaker 1: MSBT will charge just zero point one four percent. Big
Speaker 1: move here. They are not messing around. Likely to launch
Speaker 1: in early April. So I'm very curious as to what
Speaker 1: the inflows are going to look like because Morgan Stanley
Speaker 1: does have a lot of clientele, a lot of capital
Speaker 1: that it can certainly push into that et app So
Speaker 1: we shall see. But the fact that they're lowering the
Speaker 1: fee is a very very good sign competition is heating up,
Speaker 1: and that's very good for the market. Now, interesting news
Speaker 1: here from Ripple They are rolling out an AI driven
Speaker 1: security upgrade to the XRP Ledger. This includes AI assisted
Speaker 1: testing and dedicated red team to catch vulnerabilities before they
Speaker 1: hit production. So I think every major blockchain is going
Speaker 1: to do this right. They have to leverage AI in
Speaker 1: different ways. And here's what Jay Otto Akinley from seeing
Speaker 1: his name right, who's head of engineering at Ripple X.
Speaker 1: He said, we're taking a more proactive AI driven approach
Speaker 1: to strengthening XRPL security. That includes AI assisted testing across
Speaker 1: the development life cycle, a dedicated red team, and higher
Speaker 1: standards for how changes are evaluated before they go live.
Speaker 1: As the XRP ledger scales to support global payments, tokenized assets,
Speaker 1: and institutional use cases, our goal is to continuously strengthen
Speaker 1: its reliability. The reality is the work of building secure,
Speaker 1: reliable financial infrastructure is never done. So great to see
Speaker 1: that these updates are being done across different chains and
Speaker 1: obviously here on the XRP Ledger. This is all good. Okay, folks.
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Speaker 1: institutional access to the TRX trading so grx is of
Speaker 1: course the native token of the Tron blockchain. This is
Speaker 1: of course a project that was spearheaded by Justin Sun
Speaker 1: with a lot of controversy, but I think Justin Sun
Speaker 1: being relieved from any type of investigation allows the token
Speaker 1: and this project to now be adopted by different folks
Speaker 1: across the globe. So Anchorage Digital, a US regulated crypto bank,
Speaker 1: will add support for the Tron blockchain, starting with institutional
Speaker 1: custody for TRX, the network's native token. The integration provides
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Speaker 1: Taking the move brings Tron, a major network for stable
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Speaker 1: traditional financial institutions and the crypto ecosystem. So great to
Speaker 1: see additional crypto assets being added for support for institutional investors.
Speaker 1: So this is really great. Now look at this, folks.
Speaker 1: The New York Stock Exchange owner, which is the Intercontinental
Speaker 1: Exchange doubles down on Polymarket with a fresh six hundred
Speaker 1: million dollar investment. Now we know the New York Stock
Speaker 1: Exchange itself is going all in on crypto and tokenization,
Speaker 1: but they're looking to invest in platforms like prediction markets,
Speaker 1: which are blockchain based. So it's amazing what's happening to
Speaker 1: see these trad five folks of this caliber, you know,
Speaker 1: investing in crypto companies. It's amazing. It's amazing. And their
Speaker 1: total commitment to polymarket is about two billion dollars. Yeah,
Speaker 1: that is wild, but this is the future. They recognize
Speaker 1: what's happening and it's gonna take It would take very
Speaker 1: long time for them to go to build something like this,
Speaker 1: so they can easily acquire these companies or you know,
Speaker 1: bring them into their fold, so to speak. And uh,
Speaker 1: I think we're going to see more and more of this,
Speaker 1: especially as the Claritiac gets passed and we have the
Speaker 1: clear rules of the roads. A lot more capital is
Speaker 1: going to come in investing in companies, buying the tokens
Speaker 1: and much more. But not everyone is happy. You got
Speaker 1: some Democrats who are pushing back against the Kansas Fed
Speaker 1: over their approval of Kraken's master account, so you can.
Speaker 1: Elizabeth Warren and here specifically, Maxine Waters, the ranking Democrat
Speaker 1: of the House Financial Services Committee, is demanding answers from
Speaker 1: the Federal Reserve Bank of Kansas over the approval of
Speaker 1: Kraken's Financials Limited Purpose Master account. Now we know Maxine
Speaker 1: Waters and Elizabeth Warren two grandmas. They don't care about
Speaker 1: why it was done. No, they're getting their marching orders
Speaker 1: from the likes of the Jamie Diamonds of the world,
Speaker 1: right the bank series who are getting disrupted. You know,
Speaker 1: Jamie Diamond doesn't like this. He doesn't like that these
Speaker 1: folks can have their own stable coins. He doesn't like
Speaker 1: that they can get fed master accounts. He doesn't want that. Right,
Speaker 1: he's the incumbent and he's trying. He's been fighting for years,
Speaker 1: and we know at one point he was trashing bitcoin
Speaker 1: and crypto forever. Now he's capitulated, right, his bank is
Speaker 1: offering cryptos services and much more. But that's not going
Speaker 1: to stop him and his buddies from lobbying the hell
Speaker 1: out of these top democrats like Maxine Waters and Elizabeth Warren.
Speaker 1: So this is why we need to get the Clarity
Speaker 1: Act pass. These people are not gonna stop. I mean,
Speaker 1: just the other day you saw Elizabeth Warren Is sending
Speaker 1: a letter to mister b saying, mister Bees, Jimmy Donaldson
Speaker 1: told us about your acquisition of Step and what you're
Speaker 1: gonna do with Crypto, with gen z Ers and much
Speaker 1: more like, really, let the regulators have that. Why do
Speaker 1: you need to send a letter to mister Bees. But again, guys,
Speaker 1: I hope you see for what it is. It's just
Speaker 1: a lot of bullshit. Right. They are simply getting the
Speaker 1: big fat checks in the mail from the banks, and
Speaker 1: they're going around trying to shake down people. Give them
Speaker 1: a hard time, slow them down, roll block them, right
Speaker 1: because you can imagine again just like you know, Jamie Diamond,
Speaker 1: and these guys don't like crypto companies getting banking licenses
Speaker 1: and master accounts. They don't want anybody with a huge
Speaker 1: following being able to set up the abilit to move money. Right,
Speaker 1: this is how it works there, incumbents who have been
Speaker 1: doing campaign donations for a long time, you know, calling
Speaker 1: up pulling those strings, right, Hey, Elizabeth Warreon, Hey Maxine Waters,
Speaker 1: go stop these guys, right, we don't like what they're doing. Again,
Speaker 1: not that these folks broke the law. They did anything bad,
Speaker 1: just disruption, right, So that's why you have these grandma's right.
Speaker 1: We're out there attacking these companies. It's pretty crazy. Final
Speaker 1: news item here we have details on who the auditor
Speaker 1: will be for Tether's usdt SO. KPMG, one of the
Speaker 1: top four accounting firms, has been highlighted as the auditor,
Speaker 1: and I actually just interviewed someone from KPNG. That interview
Speaker 1: should be published over the next couple of weeks. They're
Speaker 1: doing a lot with crypto and blockchain, and it's incredible
Speaker 1: to see these firms which existed way before crypto are
Speaker 1: now adopting the technology in different ways and great to
Speaker 1: see Tether is going through the respective processes here to
Speaker 1: meet the requirements of things like the Genius Act and
Speaker 1: much more and further legitimizing the work they've been doing.
Speaker 1: There is a lot of fund out there. I've been
Speaker 1: on record how I feel about it. I have no
Speaker 1: dog in a fight. I'm just about facts I've said
Speaker 1: in the early days of Tethers set up. You know,
Speaker 1: I even interviewed people from who are creators or founders
Speaker 1: of Tether, and I asked them about this and they're like, yeah, look,
Speaker 1: I don't think the ship was right in the early
Speaker 1: days that things were not buttoned up, but to say
Speaker 1: that's the case now is just asinine. Right, Teather has
Speaker 1: been doing antessations. They got Canter Fitzgerald backing them, you know, saying, hey,
Speaker 1: they've got the reserves. Now they're going to bring in
Speaker 1: a top four accounting firm. But you're gonna still see
Speaker 1: people who are fludsteries, who are either getting paid or
Speaker 1: there's something behind the scenes, right you want to bring
Speaker 1: down Tether, you know, regarding their bias or whatever it
Speaker 1: may be. But this is really great and looking forward
Speaker 1: to seeing the audit that's put together here, folks, that's
Speaker 1: the news. Let me know what you think. Leave your
Speaker 1: thoughts and comments below hit the thumbs a button. Be
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Speaker 1: much for tuning in. I appreciate you all and I'll
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