WEBVTT

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<v Speaker 1>The sec releases huge updates around stable coins, saying they

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<v Speaker 1>are not securities. I'll give you all the details there,

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<v Speaker 1>and you won't believe what Scott percent, the Secretary of

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<v Speaker 1>the Treasury, is saying about bitcoin and black Rock's Biddle

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<v Speaker 1>pays out incredible amounts of yield, making me think I

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<v Speaker 1>want to invest in this. I'll give you all the details.

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<v Speaker 1>Let's get into it. Hey, everybody, welcome into The Thinking

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<v Speaker 1>Crypto Podcasts, your home for cryptocurrency news and interviews. I'm

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<v Speaker 1>your host, Tony Edward. On your way in, Please at

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<v Speaker 1>that subscribe button as well as the thumbs up button

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<v Speaker 1>and leave a comment below. If you're listening on a

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<v Speaker 1>podcast platform such as Spotify or Apple, please leave a

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<v Speaker 1>five star rating and review. Folks. The tariff madness continues

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<v Speaker 1>as China today responded to the US tariffs. And I'm

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<v Speaker 1>not going to go through all the details there. I'm

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<v Speaker 1>sure you guys have seen it in the mainstream news,

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<v Speaker 1>but what I want to highlight is the impact on

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<v Speaker 1>the markets. A very good sign that we are seeing

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<v Speaker 1>is that bitcoin is holding up pretty good relative to

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<v Speaker 1>everything that's happening in the market. I mean, it's not

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<v Speaker 1>dumping it's kind of just chopping sideways. Now, that doesn't

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<v Speaker 1>mean it can't dump further down. But when you see

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<v Speaker 1>the SMP five hundred and the NASDAC and the Dow

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<v Speaker 1>Jones Industrial just blood on the streets dumping heavily, and

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<v Speaker 1>Bitcoin is just like stuck there. It's very fascinating and

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<v Speaker 1>I want to share what different folks are saying. But

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<v Speaker 1>like I said before, it doesn't mean Bitcoin can't dump

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<v Speaker 1>this weekend, right, but we'll have to watch it closely.

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<v Speaker 1>If this holds up, it could really help change a

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<v Speaker 1>narrative around crypto because bitcoin is still an asset that

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<v Speaker 1>is very young. It's only been around since two thousand

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<v Speaker 1>and nine, guys, so in comparison to the stock market,

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<v Speaker 1>gold and much more, it's a baby, right, so it

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<v Speaker 1>has the maturity to do. But this could be one

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<v Speaker 1>of those growing phases. Maybe it's a teenager now it's

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<v Speaker 1>sixteen years old and it's starting to mature, so we'll

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<v Speaker 1>have to wait and see. It would be really good

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<v Speaker 1>if bitcoin held up because it will give a lot

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<v Speaker 1>of investors who have been skeptics a lot of confidence

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<v Speaker 1>to enter the crypto market. Here's what Arthur Hayes said,

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<v Speaker 1>kind of echoing these statements. Bitcoin holders need to learn

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<v Speaker 1>to love tarrists. Maybe we finally broke the correlation with

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<v Speaker 1>the NASDAC and can move onto the purest form of

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<v Speaker 1>a fiat liquidity smoke alarm, we'll see. You know, I

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<v Speaker 1>don't want to celebrate too much because markets can certainly

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<v Speaker 1>go against the herds everyone is. If everyone is believing,

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<v Speaker 1>oh yeah, bigcoin's holding up, right, then bitcoin dumps, then

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<v Speaker 1>that narrative quickly goes away. So we'll have to wait

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<v Speaker 1>and see. Here and here, Ryan Resmussen from Bitwise Asset Management,

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<v Speaker 1>he highlighted the performance where gold is down, the SPUI,

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<v Speaker 1>the QQQ, Microsoft, Google, Amazon all down, but Bitcoin up

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<v Speaker 1>two point two percent on the day since Liberation Day.

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<v Speaker 1>So interesting statistics here. All right, big news coming out

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<v Speaker 1>of the SEC today, folks. This one is pretty big

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<v Speaker 1>because Congress is working on crypto legislation. This past week

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<v Speaker 1>in the House we had the Stable Act get approved,

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<v Speaker 1>and we know in the Senate there's the Genius Act,

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<v Speaker 1>which was introduced by Senator Haggarty. So the SEC Division

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<v Speaker 1>of Corporation has just put out a guidance on stable coins.

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<v Speaker 1>The agency has minted a new term covered stable coins,

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<v Speaker 1>which describes stable coins that maintain a stable value relative

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<v Speaker 1>to the United States Dollar on a one for one basis,

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<v Speaker 1>can be redeemed for USD on a one for one basis,

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<v Speaker 1>and are backed by assets held in reserve that are

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<v Speaker 1>considered low risk and readily liquid, with a USD value

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<v Speaker 1>that meets or exceeds the redemption value of stable coins

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<v Speaker 1>and circulation. So they're essentially saying stable coins that act

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<v Speaker 1>like this, which is the majority of stable coins out there,

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<v Speaker 1>are not securities. Remember when Gary Genser tried to say

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<v Speaker 1>stable coins and securities, right, he was trying to say

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<v Speaker 1>everything's a security. But it's like, how can a stable

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<v Speaker 1>coin be a security? One is just simple pegged to

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<v Speaker 1>the dollar. It doesn't move beyond that value, and if

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<v Speaker 1>you're just using it to transact, how to hell is

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<v Speaker 1>that of security? But that's why Gary answer has gone

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<v Speaker 1>and why I call them a scumbag regulator. So the

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<v Speaker 1>division says that covered stable coins are not offered or

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<v Speaker 1>sold as investment contracts and therefore do not fall within

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<v Speaker 1>the SEC's jurisdiction. The statement does not cover algorithmic stable coins,

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<v Speaker 1>yield bearing stable coins, or stable coins attract the value

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<v Speaker 1>of assets other than USD so the yield bearing I

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<v Speaker 1>could see where the SEC may call some of those

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<v Speaker 1>securities will have to wait and see. But guys, this

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<v Speaker 1>is huge and to have this from the SEC as

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<v Speaker 1>stable coin legislation, I think is going to make it

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<v Speaker 1>through this year. It's high priority because there's a geopolitical

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<v Speaker 1>aspect to this with the US dollar being the world

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<v Speaker 1>reserve currency, and it will give a lot of institutions

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<v Speaker 1>the greenlight to participate, whether they launch your own stable

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<v Speaker 1>coin or use other stable coins in the market that

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<v Speaker 1>they're not going to get a lawsuit from the SEC

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<v Speaker 1>if they simp want to use it for payments and

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<v Speaker 1>issue their own and whatever it may be. So this

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<v Speaker 1>is huge clarity, and it follows the SEC providing clarity

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<v Speaker 1>on meme coins as well as crypto mining activities. In addition,

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<v Speaker 1>we're waiting for the SEC to talk about NFTs. I

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<v Speaker 1>think that's the next big one, and then eventually they're

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<v Speaker 1>going to have to talk about different cryptocurrencies and digital assets.

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<v Speaker 1>I think they may wait for Paul Atkins on that

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<v Speaker 1>and there's going to have to be more work on

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<v Speaker 1>that end because that is more complex with the amount

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<v Speaker 1>of blockchains and tokens there are out there. David Sachs,

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<v Speaker 1>the White House Cryptos are tweeted out the news saying

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<v Speaker 1>the SEC has determined that fully reserved liquid dollar back

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<v Speaker 1>stable coins are not securities. Therefore, blockchain transactions to mentor

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<v Speaker 1>or redeem them do not need to be registered under

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<v Speaker 1>the Securities Act. Helpful clarity from the SEC. Now, moving ahead,

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<v Speaker 1>we get some very big statements from US Treasury Secretary

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<v Speaker 1>Scott percent. He said bitcoin is becoming a store value.

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<v Speaker 1>Let me play a clip for you.

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<v Speaker 2>It was unclear whether we were going to exempt gold

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<v Speaker 2>from terraces, which I believe we have. So there's a

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<v Speaker 2>big move out of vaults in Switzerland, out of volts

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<v Speaker 2>in London to get it into New York. And look

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<v Speaker 2>that there are a lot of different stores of value

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<v Speaker 2>over time, Bitcoin's becoming a store of value. Gold has

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<v Speaker 2>historically been a store of value. I think what's interesting

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<v Speaker 2>is where do we see the gold demand coming from

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<v Speaker 2>a huge amount is from China, where As I said,

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<v Speaker 2>they're in the middle of an economic recession slash depression.

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<v Speaker 2>People don't trust the Chinese currency because they have capital controls.

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<v Speaker 2>There are one point four billion Chinese who won't want

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<v Speaker 2>to get their money out, and they won't let them.

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<v Speaker 2>They will let them buy gold.

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<v Speaker 1>Folks, these are big statements from the Treasury Circuitary, and

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<v Speaker 1>we know he's pro crypto. Know the entire US government

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<v Speaker 1>for the most part, is pro crypto, but when you

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<v Speaker 1>hear it from folks of this caliber and the respective

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<v Speaker 1>positions they're in, it's huge. And I think there's going

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<v Speaker 1>to be a global fomo for bitcoin as the United

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<v Speaker 1>States put up this signal that they want to launch

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<v Speaker 1>a bitcoin reserve and they're exploring the ways to buy

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<v Speaker 1>that bitcoin that is revenue neutral and not a burden

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<v Speaker 1>to the taxpayers. But I think central banks around the

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<v Speaker 1>world will start holding bitcoin and it will sit alongside gold,

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<v Speaker 1>just like they currently hold gold. And we could be

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<v Speaker 1>at the cusp of another Bretton Woods moment, similar to

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<v Speaker 1>what happened after World War Two, where you had the

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<v Speaker 1>agreement of the gold backing the dollar and the US

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<v Speaker 1>dollar becoming the world reserve currency and much more. You

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<v Speaker 1>guys can steady up the history, but it feels like

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<v Speaker 1>we're at that moment with bitcoin here, so big statements

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<v Speaker 1>and Bitcoin's here to stay, and we are seeing bitcoin

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<v Speaker 1>ETFs continue to grow and black Rocks expanding It's bitcoin

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<v Speaker 1>E to U to UK and other countries, so things

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<v Speaker 1>are moving in the right direction now, folks. A great

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<v Speaker 1>place you can buy bitcoin and other cryptocurrencies is on Uphold.

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<v Speaker 1>Uphold is a platform I've been using since twenty eighteen.

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<v Speaker 1>They recently re added staking rewards for nineteen cryptocurrencies. They

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<v Speaker 1>have three hundred plus cryptocurrencies on their platform and Folks,

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<v Speaker 1>they are easy to use. They are safe and reliable.

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<v Speaker 1>They don't commingle or lend out your crypto funds. They

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<v Speaker 1>are one hundred percent reserved and they have a transparency

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<v Speaker 1>report that you can review now. They offer a great

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<v Speaker 1>reward program on stable coins where you can earn up

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<v Speaker 1>to five point two five percent. Part of this reward

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<v Speaker 1>program is you get twenty four hour early access to

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<v Speaker 1>new tokens that they list, and in order to participate,

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<v Speaker 1>you just simply have to log into the app once

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<v Speaker 1>per month, deposit fifty dollars once per month, and trade

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<v Speaker 1>fifty dollars once per month. And the stable coins they

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<v Speaker 1>support include Circles USDC, Ripples, r l usd Paypals, p

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<v Speaker 1>Yus that you can earn up to five percent of

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<v Speaker 1>those and up to five point twenty five percent on USBC.

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<v Speaker 1>So this is a great program, upholds a great platform.

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<v Speaker 1>So if you'd like to learn more, visit the link

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<v Speaker 1>in the description. Now, folks, look at this news. Black

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<v Speaker 1>Rocks Securitize issued Biddle paid a record four point one

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<v Speaker 1>seven million dollars in March dividends. That's pretty incredible. If

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<v Speaker 1>you recall, Blackrock tokenize a money market fund on the

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<v Speaker 1>Ethereum blockchain. They named it Biddle, and it's mostly for

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<v Speaker 1>it's essentially for credited investors. But the amount of dividends

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<v Speaker 1>they're paying out is pretty lucrative. I'm going to have

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<v Speaker 1>to look at possibly investing in this. I have to

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<v Speaker 1>do more research, but I like this, and you know

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<v Speaker 1>Blackrock is backing this. And if you guys recall just

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<v Speaker 1>I think it was last week they expanded to Solana.

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<v Speaker 1>So the on chain money market has dished out some

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<v Speaker 1>twenty five point four million dollars in investor returns within

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<v Speaker 1>a year, according to a Friday disclosure from the broker dealer.

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<v Speaker 1>Here's the quote. Biddle's market leading AUM assets under management

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<v Speaker 1>reflects the growing demand for institutional grade yield on chain

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<v Speaker 1>while also showcasing the many benefits of tokenization. Michael Sonnenschein's

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<v Speaker 1>Securitize COO and former Gray Skille CEO told The Block

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<v Speaker 1>He says, unlike traditional money market funds, which typically pay

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<v Speaker 1>dividends monthly, delivers daily payouts, providing investors with a return

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<v Speaker 1>on capital that they can immediately deploy. It's a clear

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<v Speaker 1>example of how tokenization is not just making traditional financial

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<v Speaker 1>products more accessible, but fundamentally better. The daily payout is

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<v Speaker 1>incredible and this is why they're looking to put all

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<v Speaker 1>of these assets on the blockchain, guys, because you have

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<v Speaker 1>instant settlement transparency, the ability to track this in real time.

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<v Speaker 1>It can be used around the globe, nor more having

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<v Speaker 1>to wait days or weeks for settlement. It settles instantly.

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<v Speaker 1>This is the future, guys, and they're going to put

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<v Speaker 1>stocks and everything on the blockchain. Pretty incredible stuff. Yeah,

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<v Speaker 1>we have some interesting updates around ethereum Etherorem developers aim

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<v Speaker 1>for May seventh main net deployment of the Pectra upgrade.

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<v Speaker 1>So this could help Etherorem, I think perform a bit better.

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<v Speaker 1>It's been lagging in this bullmarket. I think even staking

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<v Speaker 1>being added to the Ethereum's body test will help Ethereum

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<v Speaker 1>perform a bit better. So this was slightly delayed from

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<v Speaker 1>the prior estimated date in April as far as the

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<v Speaker 1>upgrade time, but the latest decision to finalize the May

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<v Speaker 1>date was majoring a core developer's call on Thursday following

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<v Speaker 1>a successful test of the Hoodi test net. The call

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<v Speaker 1>brought together key contributors to discuss the progress in scheduling

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<v Speaker 1>of the Petrol hardfork, the most significant update to the

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<v Speaker 1>Ethereum network regarding software changes. The upgrade includes eleven modifications

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<v Speaker 1>via etherorem improvement proposals, which strive to improve the network's

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<v Speaker 1>usabilities staking capabilities. So this is a big update and

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<v Speaker 1>and that's why I'm highlighting it because I think this

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<v Speaker 1>could have a strong narrative and could impact the price

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<v Speaker 1>and as mentioned in addition to staking being added to

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<v Speaker 1>the etherory METF. But ETH hasn't had its day in

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<v Speaker 1>this bull market. So let's say, come May. The market

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<v Speaker 1>is bouncing because you know, right now we are maybe

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<v Speaker 1>at the tail end of some of the tariff announcements

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<v Speaker 1>and they're gonna be wrong. I think we have the

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<v Speaker 1>bottom out and then we'll bounce because markets don't go

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<v Speaker 1>down forever. I believe the FED is going to launch

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<v Speaker 1>QE and cut rates, and I believe that's going to

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<v Speaker 1>send the markets going higher again, and ETH could start

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<v Speaker 1>to see some performance here, especially with things like this,

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<v Speaker 1>which could be major catalysts. Now on the Salana front,

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<v Speaker 1>not so good. Solana whales begin offloading soul amid a

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<v Speaker 1>two hundred million dollars staking unlock. So this is pretty wild.

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<v Speaker 1>Solana whales have offloaded their tokens to cash in on

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<v Speaker 1>gains from a staking play that began four years ago.

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<v Speaker 1>In April, only twenty one to four whale addresses staked

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<v Speaker 1>one point seventy nine million Solana tokens, then worth about

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<v Speaker 1>thirty seven point seven million dollars. The steak was unlocked

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<v Speaker 1>on April fourth, in what Arkham Intelligence called the largest

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<v Speaker 1>single day unlock of staked soul. The firm noted that

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<v Speaker 1>the next similar unlocked is not expected until twenty twenty eight.

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<v Speaker 1>At the time of the unlocked, the tokens were valued

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<v Speaker 1>at roughly two hundred and six million dollars, representing a

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<v Speaker 1>four hundred and forty six percent gain from the initial

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<v Speaker 1>staking period, not about a return there huh, But they're dumping,

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<v Speaker 1>so it is what it is. We'll see how this

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<v Speaker 1>affects the remainder of the bull market as prices start

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<v Speaker 1>to run. Maybe Solana loses some steam here and a

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<v Speaker 1>lot of the liquidity starts going to like eth and

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<v Speaker 1>so forth. We'll have to wait and see. I'm just

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<v Speaker 1>speculating at this point, but a lot of coins being

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<v Speaker 1>put out here, but we'll see that at least the

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<v Speaker 1>next unlock is not till three years from now. Now.

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<v Speaker 1>Final news item here, Circle and Binance have formed a partnership.

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<v Speaker 1>Usd C is now the default currency for new Binance

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<v Speaker 1>Pay users. Jeremy Alaire, founder and CEO of Circle, says,

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<v Speaker 1>a big move by Binance, who has quietly built one

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<v Speaker 1>of the largest financial super apps in the world with

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<v Speaker 1>over two hundred and fifty million users, and has now

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<v Speaker 1>made USDC the fiat currency for Binance Pay. They're peer

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<v Speaker 1>to peer and merchant payment solution with over forty million

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<v Speaker 1>monthly active users. So big partnership here. Shout out to

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<v Speaker 1>the folks at Circle, and I think they're making a

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<v Speaker 1>lot of moves because they want to IPO. Now there

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<v Speaker 1>are reports coming out that they may be pushing back

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<v Speaker 1>the IPO because of all the economic uncertainty we're dealing with.

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<v Speaker 1>You know, one of the things I mentioned the other day,

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<v Speaker 1>way a hell would circle one to IPO in a

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<v Speaker 1>bear market, and I believe that we were still in

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<v Speaker 1>a bullmark. I still believe we're in a bull market.

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<v Speaker 1>I know somebody're gonna think I'm crazy, but I'm looking

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<v Speaker 1>at the charts and I don't see the major invalidation. Now,

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<v Speaker 1>things could escalate further, and that's what we don't know, right.

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<v Speaker 1>Are we near the bottom or things could get even

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<v Speaker 1>worse that could take us out of the bullmarket. Absolutely,

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<v Speaker 1>I'm open minded. I'm not trying to be some sort

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<v Speaker 1>of permeable here, and I look at the data. But

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<v Speaker 1>based on the data, based on whale activity and some

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<v Speaker 1>of the key support levels that bitcoin still holds, I

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<v Speaker 1>think we're still in a bull market. I think sentiment wise,

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<v Speaker 1>And you're going to see a lot of comments saying

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<v Speaker 1>I'm crazy, right, because people are going to get emotional.

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<v Speaker 2>How can we be in a bull market?

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<v Speaker 1>Look at what's happening, But they can't point you in

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<v Speaker 1>the charts, They can't point you to the on chain

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<v Speaker 1>data and the different metrics that have flagged the top

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<v Speaker 1>in the past. They just operate by emotions. But that's

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<v Speaker 1>not what I'm doing here. But I do believe in

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<v Speaker 1>bull markets you have these severe pullbacks and crashes and

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<v Speaker 1>so forth. I've been here since twenty sixteen, so I've

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<v Speaker 1>seen them, and you kind of have to pump the

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<v Speaker 1>brakes if you're looking to do anything major in a

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<v Speaker 1>major announcement, and wait until we find the bottom and

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<v Speaker 1>we start balancing and showing some strength to move to

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<v Speaker 1>higher highs. But it's going to be a process. Hopefully

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<v Speaker 1>we see some sort of v shape recovery soon, and

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<v Speaker 1>I think some of these companies that were looking to

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<v Speaker 1>do IPOs they probably have to push it to the

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<v Speaker 1>latter half of the year, as you know, the market

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<v Speaker 1>and people get more confident again, and guys, you know,

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<v Speaker 1>to come out of this, I honestly think it's gonna

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<v Speaker 1>have to be quantitative easy. There's gonna have to be

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<v Speaker 1>some sort of stimulus or bailouts for some industries if

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<v Speaker 1>these tariffs are to stay in place. So we shall see.

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<v Speaker 1>But just want to let you guys know, right I

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<v Speaker 1>want to be fair and transparent with you guys that

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<v Speaker 1>this is what I'm thinking, this is what I'm seeing,

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<v Speaker 1>is what I'm hearing, and Circle looks like they're going

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<v Speaker 1>to push back their IPO. So guys, let me know

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<v Speaker 1>what you think. Leave your thoughts and comments below hit

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<v Speaker 1>the thumbs up button. A great way you can support

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<v Speaker 1>the podcast is by subscribing to my free email newsletter.

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<v Speaker 1>Check out my book on Amazon it's available in paperback digital,

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<v Speaker 1>and my new course at Mycrypto course dot com. This

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<v Speaker 1>is a comprehensive course that helps you to learn about

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<v Speaker 1>every aspect of crypto. Knowledge is power, so check it

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<v Speaker 1>out at mycryptocurse dot com. Guys, thank you for watching

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<v Speaker 1>and listening. I appreciate you all and I'll talk to

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<v Speaker 1>you all later