Speaker 1: Hey, folks, welcome into the Thinking Crypto podcast. You're home
Speaker 1: for cryptocurrency news and interviews. I'm your host, Tony Edward.
Speaker 1: On your way in. Please hit that subscribe button as
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Speaker 1: Jim Kramer is a menace. On Monday, the man tweeted
Speaker 1: out by crypto right, that was his first tweet early
Speaker 1: on Monday morning. And then today he goes on CNBC.
Speaker 1: He gets interviewed by Andrew Sorkin and the others, and
Speaker 1: it's unbelievable. You usually don't see Jim Kramer in this setting,
Speaker 1: but of course he talks crypto. He says, I say,
Speaker 1: crypto is fine. I'm using it as insurance, and it's
Speaker 1: insurance against the thirty seven trillion dollar that we owe.
Speaker 1: I mean, this man is trying to crash the market.
Speaker 1: Right in verse Kramer, let me play the clip for you.
Speaker 2: What about all the folks, especially the younger people, say
Speaker 2: that the future is crypto? How do I say Crypto's fine?
Speaker 2: How do how do you value that? How do you
Speaker 2: what is the sort of process with which you would
Speaker 2: use Well, I'm using it as insurance, and it's an
Speaker 2: insurance against the thirty seven trillion that we of course,
Speaker 2: we do have a government shutdown, but at least it's
Speaker 2: not connected to a deadline involving you know, refinancing for
Speaker 2: the government, which is really good as the government shutdown
Speaker 2: is not done at the same time as a possible
Speaker 2: cataclysm of not paying our bills.
Speaker 1: But I don't know.
Speaker 2: I think that crypto is I'm not valuing as fun.
Speaker 2: I'm valued as anti what they the younger people think
Speaker 2: is our country's problems. They may know that one, but
Speaker 2: then again maybe my generation never has to see it,
Speaker 2: and their generation is going to have to live with
Speaker 2: what happens.
Speaker 1: So again in verse Kramer, maybe the additional downside we
Speaker 1: have is because of this man, he's going to send
Speaker 1: us down lower and then we find our boy, and
Speaker 1: then we are going to have a big Q four
Speaker 1: of course, so it's all part of the process. By
Speaker 1: the way, So right now bitcoin trading over one hundred
Speaker 1: and fourteen thousand dollars. But like I said, I don't
Speaker 1: think we're out of the woods yet. I could be wrong,
Speaker 1: but I think there's further downside. Bitcoin could go test
Speaker 1: some lower levels, taking the RSI to the extremely over
Speaker 1: sold zone below thirty. So we'll have to wait and see. Right,
Speaker 1: we don't have a crystal ball, but based on the
Speaker 1: data we can formulate a thesis. But we're still in
Speaker 1: the macro bull market. You know. I've covered that at
Speaker 1: nauseum on my live stream and in yesterday's podcasts and
Speaker 1: in my recent newsletter. So patients is the key here.
Speaker 1: We just got to go through the roller coaster ride.
Speaker 1: All right, let's jump into some news. The SEC is
Speaker 1: considering allowing stocks to trade on chain, with plans to
Speaker 1: launch quickly. This is very bullish. We know. The SEC
Speaker 1: has been meeting with a lot of tran fi institutions,
Speaker 1: and many of these institutions like banks like your, investment
Speaker 1: firms like black Rock, and the stock exchanges like NASDAK.
Speaker 1: They all want to have tokenized stocks and other assets.
Speaker 1: But they're starting with stocks. So the SEC is essentially
Speaker 1: getting the pressure here to move faster than expected. So
Speaker 1: let me give you the details. The SEC is reportedly
Speaker 1: developing a plan to allow blockchain registered versions of stocks
Speaker 1: to trade on cryptocurrency exchanges. A move that would mark
Speaker 1: a significant step toward integrating digital asset technology into the
Speaker 1: traditional financial system. The proposals, still in the early stages,
Speaker 1: would let investors buy and sell stock tokens, digital representations
Speaker 1: of shares in publicly traded companies on approved crypto platforms,
Speaker 1: The Information reported on Tuesday, citing people familiar with the matter,
Speaker 1: The initiative reflects the growing regulatory openness to tokenization, the
Speaker 1: process of creating blockchain based tokens that mirror ownership of
Speaker 1: traditional assets. SEC Chair Paul Atkins recently described tokenization as
Speaker 1: an innovation the agency would seek to advance, not restrict.
Speaker 1: Regulators should be focused on how do we advance innovation
Speaker 1: in the marketplace, he said, noting that tokenized assets would
Speaker 1: improve access to financial markets and reduce costs. So again, folks,
Speaker 1: do you see the direction to puck is heading here?
Speaker 1: The regulators are on board. We know crypto has a
Speaker 1: much more friendlier environment here in the United States, and
Speaker 1: tokenization is a big race in addition to stable coins,
Speaker 1: and many firms looking to launch crypto trading and custody,
Speaker 1: but they want to put assets like gold and stocks
Speaker 1: and much more on the blockchain because it allows it
Speaker 1: to trade twenty four to seven. You can operate with
Speaker 1: it via defive, you can open it up to more
Speaker 1: markets and jurisdictions around the world. So there's a lot
Speaker 1: of benefits here and the race is on now. Speaking
Speaker 1: of stable coins, look at this news. Visa, the credit
Speaker 1: card Giant pilots stable coin payments for businesses sending money abroad.
Speaker 1: So we're seeing massive adoption by these traditional institutions credit
Speaker 1: card companies, payment companies, stock exchanges, banks, and much more
Speaker 1: so global payments Giant and Visa has launched a pilot
Speaker 1: to test stable coins for cross border payments, providing businesses
Speaker 1: with a new way to transfer money abroad more quickly.
Speaker 1: The pilot will allow businesses, including banks and remittance providers,
Speaker 1: to pre fund Visa Direct with stable coins instead of
Speaker 1: fiat currency. Visa treats those stable coins as money in
Speaker 1: the bank or available balances for payouts, enabling businesses to
Speaker 1: send money abroad without locking up large sums of cash
Speaker 1: days in advance. So many of you who don't understand
Speaker 1: the problem of payments that has been going on for
Speaker 1: a long time. Due to the Swift system, you got
Speaker 1: Nostro Vostra accounts You got folks who have to hold
Speaker 1: cash on their balance sheet just to fund these payments.
Speaker 1: They won't have to do that with stable coins, instant settlement,
Speaker 1: real time, cheaper fees. So that's why these payment giants
Speaker 1: are adopting this technology. This is the value proposition, right
Speaker 1: of why they're looking to do this. So a lot
Speaker 1: of people still don't understand you need stable coins. I
Speaker 1: use Venmo, but they don't understand the problem that happens
Speaker 1: behind the movement of money. Here's a quote. We're bringing
Speaker 1: stable coins to Visa Direct, our push payments platform, enabling
Speaker 1: real time money movement to billions of endpoints, a Visa
Speaker 1: spokesperson told the Block. By doing so, we're creating a
Speaker 1: role where payments can be settled in stable coins, unlocking instant,
Speaker 1: global and programmable payments. So they're going to be using
Speaker 1: USDC and well, I should say circles, USDC and the
Speaker 1: EU RC tokens you have both a US dollar and
Speaker 1: a Euro back stable coin. So they're going to expand
Speaker 1: to other stable coins, they said here, but they're starting
Speaker 1: with circles, which makes sense, folks. This episode is brought
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Speaker 1: out the link in the description. Now look at this
Speaker 1: USDC issuer, which is Circle partners with Deutsche Borse for
Speaker 1: europe stable coin adoption. So Circle is making some big
Speaker 1: moves here. German securities marketplace Deutsche Borse has partnered with
Speaker 1: USDC stable cooin issuer Circle to collaborate on stable coin
Speaker 1: adopt in Europe. Deutsche Bors Group and Circle Internet Group
Speaker 1: have signed a memorandum of understanding to integrate Circle stable
Speaker 1: coins within Deutsche Burse's financial market infrastructure. According to a
Speaker 1: joint statement on Tuesday, the collaboration targets circles europeg EU
Speaker 1: r C stable coin as well as its dollar peg USDC,
Speaker 1: with an initial focus on listing and trading on three
Speaker 1: sixty t's digital exchange three DX and via Crypto Finance,
Speaker 1: both part of Deutsche Bors. Huge adoption news here. We're
Speaker 1: seeing many traditional firms adopting stable coins, bitcoin and crypto
Speaker 1: trading of course, and this is huge adoption for Circle
Speaker 1: and the USDC stable coin. The announcement comes and made
Speaker 1: reports that European authorities are considering a ban on multiissuer
Speaker 1: stable coins, raising questions about potential impact on companies like
Speaker 1: Circle and Pasos. Now I think they're going to figure
Speaker 1: this out. You know, I don't think European authority is
Speaker 1: going to be that crazy, but hey, you never know.
Speaker 1: But I think the crypto industry is gonna fight a
Speaker 1: lobby and do much more. But this is big, big
Speaker 1: news here, folks. Pretty incredible what we're seeing from an
Speaker 1: adoption standpoint. Now, this news is big. Web three investor
Speaker 1: Animoka Brands equity to be tokenized on Solana in RWA deal. Now,
Speaker 1: you may recall I interviewed the CEO of Animoka Brands Yatsu.
Speaker 1: They're one of the largest investment firms in crypto. They're
Speaker 1: based in Hong Kong, and this is pretty incredible that
Speaker 1: they're tokenizing on Solana. So Real world asse tokenization company
Speaker 1: Republic plans to tokenize equity in major Hong Kong based
Speaker 1: Web three investment company Animoka Brands. According to a Tuesday
Speaker 1: Republic announcement, Animoka Brands equity tokenization on Solana will allow
Speaker 1: more investors to access exposure to the company. Animoka is
Speaker 1: not listed on any public exchange, but has invested in
Speaker 1: more than six hundred Web three prom So once again
Speaker 1: one of the largest investment firms, and they've done a
Speaker 1: lot in gaming and a metaverse and much more so.
Speaker 1: This is pretty interesting. Andrew Dirgy, co CEO at Republic,
Speaker 1: said the initiative sets a president for how companies can
Speaker 1: structured their equity for the future. Solana Foundation President Lily
Speaker 1: lou added that the move showcases what Internet capital markets
Speaker 1: make possible, giving retail investors access to opportunities once reserved
Speaker 1: for private markets. So one of the so clearly they
Speaker 1: highlighted the benefits there of tokenization, opening it up to
Speaker 1: more people and opening up to more markets. But this
Speaker 1: is big that they're doing equity tokenization. I think this
Speaker 1: may be the first of its kind. So very bullish
Speaker 1: news here from a tokenization standpoint, adoption standpoint, but also
Speaker 1: Solana now look at this. Senator Lummis says progress is
Speaker 1: underway on crypto tax rules in the Senate, So, folks,
Speaker 1: I'm hoping we get something good that is bullish and
Speaker 1: it adds more fuel to the fire for the crypto ballmarket. So,
Speaker 1: speaking Tuesday at BTC and DC, Senator Cynthia Lummis said
Speaker 1: that the committee which focuses on taxes is working to
Speaker 1: incorporate ideas she has previously posed. In July, Lummus introduced
Speaker 1: legislation to modernize the tax treatment of digital assets, which
Speaker 1: includes a minimus provision to exclude gains or losses from
Speaker 1: crypto transactions that are under three hundred dollars from being taxed.
Speaker 1: So that would be good. I'm hoping that they raised
Speaker 1: the threshold. In addition, folks, tomorrow there is a hearing.
Speaker 1: But although you know, the government shutdown may cause some
Speaker 1: problems here, but there was a meeting schedule tomorrow. Hearing
Speaker 1: schedule tomorrow. I don't know if it's still going to
Speaker 1: happen right due to the government shutdown stuff, but I'll
Speaker 1: let you guys know, you know, based on what happens tomorrow.
Speaker 1: But let's see. Hopefully they can get this right. And
Speaker 1: again it can add some just more fuel to the
Speaker 1: fire for the bull market, because if it's really good
Speaker 1: and retail likes it, you know, there's going to be
Speaker 1: a huge narrative from the mainstream media and it's going
Speaker 1: to bring in more people in the market. All right,
Speaker 1: moving ahead, folks, we got a big statement here from
Speaker 1: a ripple CTO, David Schwartz. He's stepping down as CTO,
Speaker 1: but he's moving to the board, so he's gonna be
Speaker 1: stepping a bit back from his day to day and
Speaker 1: spend more time with his family. He said he's still
Speaker 1: working on things on the XRP ledger, coding and so forth.
Speaker 1: So he's trying to go back to kind of his
Speaker 1: grassroots or his roots, i should say, and being more
Speaker 1: of a developer and things like that. But he said
Speaker 1: he will still be in and out of Ripples's office
Speaker 1: as this CTO emeritus, and we'll see what he comes
Speaker 1: up with. You know, as far as what he's been
Speaker 1: tinkering with on the XRP ledger, he says to stay
Speaker 1: tuned on that. But just FYI, he's stepping back. Now
Speaker 1: you're going to see a lot of people spread fud.
Speaker 1: Oh my god, it's over for XRP. What's gonna come on?
Speaker 2: Man?
Speaker 1: The company is huge now. They have more developers, more people.
Speaker 1: It's not twenty fifteen anymore. Right, So he's done a
Speaker 1: lot of work. There's been a lot of developments and
Speaker 1: advancements with the XRP ledger. You see a lot of
Speaker 1: tokenization happening now. I've been sharing that with you guys.
Speaker 1: Now that the SEC case is over, adoption has exploded,
Speaker 1: so things are in a much better place now and
Speaker 1: a lot of different updates have been rolled out, so
Speaker 1: he's stepping back. So watch out for the fud people.
Speaker 1: You know, honestly, this I don't even need to report
Speaker 1: this because this is a non starter. But you know
Speaker 1: the fudstage are going to come out. Did you hear
Speaker 1: Ripples CTO stepping down? Oh my god? It is the
Speaker 1: underdo world. XRP is dead, Like really, come on, man, right,
Speaker 1: you're just going to see crazy stuff on the internet, right,
Speaker 1: So guys, we want to be educated, not and be
Speaker 1: involved in dumb conspiracy theories and not be emotional about markets, right,
Speaker 1: So we want to look at everything from a factual standpoint.
Speaker 1: So again, just FYI on this.
Speaker 2: All right?
Speaker 1: Final news item Brian Kintents, who was Trump's nominee for
Speaker 1: the CFDC chair. Unfortunately that nomination has been withdrawn. Brian Contents.
Speaker 1: I interviewed him many times over the years. He's a
Speaker 1: former CFDC commissioner and he was working at a sixteen Z.
Speaker 1: He absolutely understands technology and crypto, but he was getting
Speaker 1: a lot of roebox. The Winklevoss twins were trying to
Speaker 1: block him. Not to mention, I think that the casinos
Speaker 1: were saying he was too connected to Calshi the prediction market,
Speaker 1: he was an advisor, and they were trying to block it.
Speaker 1: So I understand why Trump and his team and the
Speaker 1: administration pull pull the nomination, but he would have been great. However,
Speaker 1: I tweeted out about this, I said, look, Acting Chair
Speaker 1: Caroline fam she's been doing an amazing job. She should
Speaker 1: just become the permanent chair at this point, stay on
Speaker 1: and give her the official title because she's been doing
Speaker 1: an amazing job. You know, they launched the CFTC, launched
Speaker 1: crypto Sprint, she's been meeting with a lot of industry stakeholders,
Speaker 1: Traded five stakeholders, and the CFDC has been giving a
Speaker 1: lot of clarity, especially around prediction markets and much more.
Speaker 2: So.
Speaker 1: Hopefully she can, you know, take that chair job. Hopefully
Speaker 1: she wants it, and the CFTC can continue to run
Speaker 1: under her leadership. So just an FYI, guys, that's the
Speaker 1: update there with the CFTC. Folks. If you appreciated this content,
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Speaker 1: course at mycrypto course dot com. This is a comprehensive
Speaker 1: course that teaches you every aspect of crypto folks. All
Speaker 1: the links will be in the description. Thank you so
Speaker 1: much for watching and listening. I appreciate you all and
Speaker 1: I'll talk to you all later