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<v Speaker 1>Remember the terminology crypto asset securities that Gary Ginster likes

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<v Speaker 1>to use a lot. Well, the sec has been lying

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<v Speaker 1>to the courts about this term, and I'll share all

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<v Speaker 1>the details with you and what the legal experts are

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<v Speaker 1>saying and what may happen next. And Donald Trump this

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<v Speaker 1>coming Monday is going to do an official launch of

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<v Speaker 1>his crypto project. I'll share the details in the video

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

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<v Speaker 1>the Thinking Crypto podcast. You're home for cryptocurrency news and interviews.

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<v Speaker 1>I'm your host, Tony Edward. On your way in. Please

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

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

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

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<v Speaker 1>a five star rating and review. Folks, Let's start with

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<v Speaker 1>the price of bitcoin, because bitcoin right now is over

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<v Speaker 1>sixty thousand dollars. Once again, we're seeing a breakout upwards. Now.

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<v Speaker 1>There's nothing to call home about here. It's a good

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<v Speaker 1>sign that bitcoin's making its way up. Remember what I

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<v Speaker 1>was telling you guys. A key resistance level that bitcoin

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<v Speaker 1>needs to break through its sixty thousand dollars. So this

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<v Speaker 1>is a good sign, but it doesn't mean we're out

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<v Speaker 1>of the woods yet. We are in bloody September, so

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<v Speaker 1>this thing could pump a bit more up and then

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<v Speaker 1>dump again before it finds its bottom in this consolidation phase,

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<v Speaker 1>and we'll get a true breakout. So I want a

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<v Speaker 1>caveat what is happening right now with that information, However,

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<v Speaker 1>we're getting more macro bullish news guys here Japan. They

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<v Speaker 1>said the time is not right for the Bank of

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<v Speaker 1>Japan to raise rates. So remember what happened at the

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<v Speaker 1>beginning of August the Japanese yen trade when Japan decided

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<v Speaker 1>to raise rates right, that caused a massive crash because

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<v Speaker 1>people were borrowing the yen and the investing in US

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<v Speaker 1>equities and so forth. So this is bullish that they're

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<v Speaker 1>not raising And on the flip side, we have cuts

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<v Speaker 1>that are coming for rates here and the cuts have

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<v Speaker 1>been taking place in the EU and so forth. JP

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<v Speaker 1>Morgan released their analysis saying they're sticking to a fifty

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<v Speaker 1>basis point rate cut for next week, so September eighteenth,

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<v Speaker 1>we're going to expect to hear from the Fed they

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<v Speaker 1>are officially cutting rates. I believe it's going to be

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<v Speaker 1>twenty five basis points. I think Jerome Powell and the

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<v Speaker 1>folks of the FED are not gonna want to seem

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<v Speaker 1>like they're politically favoring Kamala Harris because cutting rates, you know, you,

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<v Speaker 1>tend to be good for the markets and the economy.

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<v Speaker 1>And they're going to slow walk this thing because if

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<v Speaker 1>they go to aggressive, it will trigger some fears. People

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<v Speaker 1>may say, oh, something's breaking on the back end. The

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<v Speaker 1>data that's been shared with us is not right. There's

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<v Speaker 1>something happening here. So I don't think they want to

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<v Speaker 1>spook the markets. I think they're going to start with

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<v Speaker 1>twenty five and look, come November, they may cut again

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<v Speaker 1>another twenty five or fifty, Right, but we'll have to

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<v Speaker 1>wait and see. I am anticipating the markets to react positively. Now.

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<v Speaker 1>Any week of any type of FED announcement or things

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<v Speaker 1>like that, there's a lot of volatility. So we do

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<v Speaker 1>have to let the dust settle and look forward to

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<v Speaker 1>the following week.

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<v Speaker 2>Right.

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<v Speaker 1>We've seen these patterns before, and that's why I'm repeating

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<v Speaker 1>them to you to remind you because sometimes people are

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<v Speaker 1>waiting in so much anticipation they expect something to happen

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<v Speaker 1>the day over the next day. No, no, no, markets

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<v Speaker 1>are going to be volatile next week, so it's going

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<v Speaker 1>to be a very interesting week. But good signs, guys,

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<v Speaker 1>we're seeing good signs for the continuation of this bull market,

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<v Speaker 1>for Bitcoin to break out and go to new all

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<v Speaker 1>time highs. That is a process. Look towards Q four,

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<v Speaker 1>not September, and then all coins will follow. All right,

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<v Speaker 1>let's jump into the big news, folks. This news makes

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<v Speaker 1>my blood boil. I'm so pissed off. And it has

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<v Speaker 1>to do with scumbag regulator Gary Ginser and the sec

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<v Speaker 1>And you know, sometimes I think I can't believe my

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<v Speaker 1>tax dollars are being used for this nonsense. So you

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<v Speaker 1>know the term crypto asset securities, that's a terminology Gary

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<v Speaker 1>Ginsters started using over the past couple of years. Right,

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<v Speaker 1>it's a way to spread his narrative and gaslight people

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<v Speaker 1>right to say all of these things are securities, right,

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<v Speaker 1>but they're not. You have to litigate each one of

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<v Speaker 1>them because some of them are securities and some are not.

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<v Speaker 1>Some are decent, right. And we've seen a lot of

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<v Speaker 1>court cases and battles and so forth. Obviously the most

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<v Speaker 1>famous is the Ripple case and Ripple came out of

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<v Speaker 1>that with the lion's share of the victory, where XRP

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<v Speaker 1>was declared intrinsically not a security. Now, specifically, in the

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<v Speaker 1>Binance US case, the SEC in their court documents added

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<v Speaker 1>a footnote and they said that they regret any confusion

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<v Speaker 1>they may have invited by falsely and repeatedly staking that

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<v Speaker 1>tokens themselves are securities. What so are you telling me?

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<v Speaker 1>The head of the SEC has been saying these things

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<v Speaker 1>on TV for years and the SEC is apologizing. But folks,

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<v Speaker 1>it gets much more crazier than that. They're saying this

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<v Speaker 1>in the Binance case footnote right that, oh we're sorry,

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<v Speaker 1>we didn't mean to use crypto acid securities. We made

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<v Speaker 1>a mistake here. But in the e Toro case where

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<v Speaker 1>they just settled with the SEC, they use that phrase

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<v Speaker 1>eight times. Jake Trawirsky here said, the SEC finally addressed

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<v Speaker 1>criticism of its nonsense term crypto asseid security by checksnoes

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<v Speaker 1>lying about and abandoning it. So the SEC is going

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<v Speaker 1>to amend all its other complaints to remove the term.

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<v Speaker 1>Now to write right, I genuinely can't get over how

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<v Speaker 1>insane this is. The SEC used the term crypto ascid

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<v Speaker 1>securities eight times in the e Toro settlement order they

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<v Speaker 1>issued on the same day they told the federal court

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<v Speaker 1>they wouldn't use it to avoid confusion. This is what

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<v Speaker 1>you call hypocrisy lies corruption. This is scumbag activity from

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<v Speaker 1>a scumbag regulator, and that regulator is Gary Genser, who

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<v Speaker 1>heads up the sec. This is the same agency that

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<v Speaker 1>got sanctioned and had to close its Utah office. This

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<v Speaker 1>is the same agency that got called arbitrary and capricious

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<v Speaker 1>in the Great Skill case. This is the same agency

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<v Speaker 1>who's headed up by Gary against who got threatened to

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<v Speaker 1>be subpoenaed by a sitting in Congressman Patrick McHenry for

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<v Speaker 1>not handing over FTX documents. This is what we're dealing with, folks.

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<v Speaker 1>This is why we got to fight. These people don't

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<v Speaker 1>care about the law, because at the end of the day,

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<v Speaker 1>they're answering to their masters, their puppets on strings. I've

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<v Speaker 1>been telling you guys what the agenda is here. And

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<v Speaker 1>Gary Genser, as I told you in yesterday's podcast, is

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<v Speaker 1>being investigated by Republican members of Congress because he's been

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<v Speaker 1>accused of political favoritism. I've told you guys, that the

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<v Speaker 1>political divide of the SEC, the Republican Commissioners hester person

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<v Speaker 1>Marquwata pro crypto, trying to get clarity in the market,

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<v Speaker 1>Gary Genser, and the other two Democrats against crypto. I've

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<v Speaker 1>been doing a whole bunch of nonsense and look at

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<v Speaker 1>what's happening here. But folks, it gets even more crazy.

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<v Speaker 1>They literally yesterday tweeted out a note here about crypto

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<v Speaker 1>asset securities from the SEC's account. They said five ways

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<v Speaker 1>fraudsters may lure victims into scams involving crypto asset securities.

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<v Speaker 1>Wait a minute, I thought you were just apologizing for

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<v Speaker 1>the using this term. That is confusing and you shouldn't prejudge.

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<v Speaker 1>This is nonsense. They're lying to the courts once again.

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<v Speaker 1>They want their hypocrites. They will do anything, they will

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<v Speaker 1>break the law. I've said that many times. Fred Rispoli,

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<v Speaker 1>attorney Fred Rispoli, who I've had on the podcast many times,

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<v Speaker 1>retweeted this tweet, saying the post in and of itself

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<v Speaker 1>is a scam, as the SEC the same day swore

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<v Speaker 1>to a federal judge that there is no such thing

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<v Speaker 1>as crypto acid securities. I've requested this to be community noted, folks,

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<v Speaker 1>you can't make this stuff up. Stuart ALDROADI Ripples chief

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<v Speaker 1>legal officers, said, So the SEC finally admits that one

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<v Speaker 1>crypto asset security is a made up term, and two

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<v Speaker 1>to prove a crypto asset security is an investment contract,

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<v Speaker 1>the SEC needs evidence of a bundle of contracts, expectations,

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<v Speaker 1>and understandings. Think it's time for the SEC to admit

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<v Speaker 1>it has become a twisted pretzel of contradictions. Don't worry.

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<v Speaker 1>I updated your logo for you, and he made the

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<v Speaker 1>SEC logo into a pretzel. Folks. Can you believe a

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<v Speaker 1>government agency which is supposed to uphold the law protect

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<v Speaker 1>investors is doing this type of activity, is lying to

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<v Speaker 1>courts right, is breaking the law in many different ways. Unbelievable.

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<v Speaker 1>But guys, this is all because of disruption. They wouldn't

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<v Speaker 1>be doing this if the Tradify incumbents didn't make the

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<v Speaker 1>call to Gary Genzer. As I've been saying, Gary's a

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<v Speaker 1>Goldman guy. He's part of that Wall Street crowd folks,

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<v Speaker 1>and he's helping them to catch up here. Because I've

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<v Speaker 1>often stated, look at two things happening in parallel, all

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<v Speaker 1>of Wall Street Black Rock Fideli and so forth are

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<v Speaker 1>here issuing ETFs, doing tokenization, custodying funds for different crypto firms,

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<v Speaker 1>while the startups coinbased, Uni, Swamp and Ripple and all

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<v Speaker 1>these folks are getting Well's notices and they're getting sued.

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<v Speaker 1>How can these two things be happening at the same time. Insane.

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<v Speaker 1>But we're going to win, folks. We are already winning

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<v Speaker 1>because the courts are the ultimate balance of power here,

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<v Speaker 1>and we're seeing Gary Ginser is getting embarrassed and taking

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<v Speaker 1>big l's in the courts. But the problem is because

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<v Speaker 1>there's no accountability, there's no one to hold him accountable.

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<v Speaker 1>He's just going to keep doing it because to him,

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<v Speaker 1>it's just like, Okay, well, oh we took a loss. Okay,

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<v Speaker 1>I'm just going to keep doing what I want to do.

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<v Speaker 1>I'm gonna break the law, I'm gonna lie, I'm going

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<v Speaker 1>to backstab, I'm gonna make up terms. And you remember

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<v Speaker 1>crypto asset security. Who else have you we heard in

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<v Speaker 1>the industry use that term prometheum. I had literally Adam Kaplan,

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<v Speaker 1>the CEO of that company, on the podcast, and he

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<v Speaker 1>was repeating that term. And I've been saying I think

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<v Speaker 1>with the broker dealer license that they got. He probably

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<v Speaker 1>made the promises. Yeah, I'm going to repeat that term, right.

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<v Speaker 1>This is why people have been saying permetheum and shady,

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<v Speaker 1>and I believe this is what Gary was trying to

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<v Speaker 1>do with FTX. But unfortunately Gary didn't do his homework,

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<v Speaker 1>didn't do his due diligence and his actual job, and

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<v Speaker 1>FTX was scamming the hell out of people stealing funds,

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<v Speaker 1>and his whole plan fell apart when FTX collapsed. So

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<v Speaker 1>this is unbelievable. This really pisses me off, and Gary

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<v Speaker 1>against needs to be fired and we got to keep fighting. Now.

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<v Speaker 1>A lot of folks weighed in on this. You can

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<v Speaker 1>imagine all the lawyers and legal experts in the crypto

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<v Speaker 1>industry were just angry as hell. Here Catherine Mirrorrick of UNISWAP.

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<v Speaker 1>She said, whether or not you care about crypto, if

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<v Speaker 1>you care about fundamental fairness in our legal system, then

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<v Speaker 1>you should be deeply concerned about what the SEC's approach

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<v Speaker 1>to crypto has been. No government agency should work this way.

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<v Speaker 1>Government agencies are trusted with enormous power to enforce laws,

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<v Speaker 1>which is why they are required to give us all

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<v Speaker 1>notice of their view of those laws before bringing the

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<v Speaker 1>full force of the government against any of us. But

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<v Speaker 1>the SEC is not just inventing new theories of how

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<v Speaker 1>to apply securities laws in its crypto cases. As it

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<v Speaker 1>goes along, it is contradicting itself with those theories, sometimes

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<v Speaker 1>within days or hours, often within the same courthouse. The

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<v Speaker 1>SEC has active cases right now. Premis originally on legal

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<v Speaker 1>theories that it no longer stands behind when press But

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<v Speaker 1>instead of dropping those cases, the SEC moves to a

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<v Speaker 1>new theory and continues on why. She asks, I'll tell

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<v Speaker 1>you why the agenda kill these crypto startups so that

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<v Speaker 1>they're banking, tratify incumbents. All of Wall Street can catch up.

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<v Speaker 1>They can launch your own blockchains, they can build on

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<v Speaker 1>these blockchains. They can sell you the crypto assets so

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<v Speaker 1>that they can collect the fees, and they can control

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<v Speaker 1>the market like they have for a very long time.

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<v Speaker 1>That's what's going on here. Why would an agency go

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<v Speaker 1>to this length to lie and do all these things. Yes,

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<v Speaker 1>you may argue this is big government, right, and a

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<v Speaker 1>lot of these agencies have gotten rogue, But when you

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<v Speaker 1>look at the actions and once in the two things

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<v Speaker 1>that are happening in parallel. Right, if Wall Street wasn't

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<v Speaker 1>here and they weren't building, and JP Morgan didn't have

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<v Speaker 1>their own blockchain, and Blackrock didn't have a Bitcoin ETF

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<v Speaker 1>and so for I would say, Okay, you know this agency,

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<v Speaker 1>they're just crazy. They just want to collect a bunch

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<v Speaker 1>of fines from these companies. But there's two things happening

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<v Speaker 1>in parallel. They want to kill all of these startups

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<v Speaker 1>and those that are getting too powerful, right, and they're

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<v Speaker 1>going after NFTs and everything. It's ridiculous at this point,

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<v Speaker 1>but the industry is fighting back. The courts are the

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<v Speaker 1>balance of power, and the industry is raised over two

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<v Speaker 1>hundred million dollars to fight back in elections, so we

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<v Speaker 1>can get more members of Congress on board, so we

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<v Speaker 1>can get legislation pass and put Gary Ginser in this place.

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<v Speaker 1>And here. Eleanor Terryt of Fox Business report that the

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<v Speaker 1>crypto industry has so far given over one hundred and

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<v Speaker 1>ninety million dollars in political donations in the twenty twenty

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<v Speaker 1>four US election cycle. Compare this to the twenty twenty election,

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<v Speaker 1>when crypto made up only fifteen million dollars in donations,

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<v Speaker 1>so huge leap from last the last cycle in twenty

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<v Speaker 1>twenty two. Right incredible stuff. Even a bunch of groups

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<v Speaker 1>are forming to fight back. So here. Miles Jennings of

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<v Speaker 1>a sixteen Z crypto said, it's time to fight for

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<v Speaker 1>the right to create. Today, A sixteen Z standard with

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<v Speaker 1>Crypto and open cre kickstarting the Creator Defense Fund, a

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<v Speaker 1>legal defense fund for creators using blockchain technology to connect

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<v Speaker 1>with fans, monetize their work, and bring more creativity to

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<v Speaker 1>the world. We're contributing one million dollars and partnering with

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<v Speaker 1>top law forms to offer legal services and consultations for

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<v Speaker 1>artists and creators who are facing potential government action or

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<v Speaker 1>simply want to ensure they are structuring their NFT projects

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<v Speaker 1>in a legal and compliant manner. So we're fighting back, folks.

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<v Speaker 1>The industry is not anymore. I remember when Ripple got sued,

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<v Speaker 1>like everyone went quiet, everyone ran to their corners. Now

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<v Speaker 1>if folks are even being proactive and issuing lawsuits against

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<v Speaker 1>the SEC before they even get a walls notice, which

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<v Speaker 1>is great, And all the exchanges and firms that are

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<v Speaker 1>getting sued, for the most part, the majority are fighting back.

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<v Speaker 1>They're taking the SEC to the court and look I

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<v Speaker 1>got to give credit where credits due. Ripple is the

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<v Speaker 1>reason for that. Ripple fighting back and punching back at

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<v Speaker 1>the bullie really give the market confidence because people start

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<v Speaker 1>to see the chinks and the armor of the SEC

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<v Speaker 1>that they're lying they're gonna do all types of nonsense

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<v Speaker 1>and hypocrisy. Let's not go into the whole Bill Hindman

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<v Speaker 1>hipocrisy stuff, right, and his speech about ethereum. That was

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<v Speaker 1>a big part of Ripple's defense because the agency itself

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<v Speaker 1>just corrupt at its core, and it has been for

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<v Speaker 1>a long time. And then you add a scumback regulator

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<v Speaker 1>like Gary Genser into the mix and it makes it

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<v Speaker 1>even worse. Right, So things have gotten worse, but we're

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<v Speaker 1>fighting back and that's what we got to do. Now.

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<v Speaker 1>Something I missed, guys, and I forgot to tell you

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<v Speaker 1>about yesterday apparently, and there's an article here from the

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<v Speaker 1>New York Post on September ninth, Kamala Harris's donors pushed

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<v Speaker 1>the nominee to fire FDC chair Lena Khan and SEC

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<v Speaker 1>chair Gary Cancer. I completely missed that. I think they

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<v Speaker 1>see these people as liabilities and that they're just crazy.

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<v Speaker 1>So they're saying, hey, kick these people out. So I

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<v Speaker 1>think that if Donald Trump win, we know he's going

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<v Speaker 1>to get fired, right. Donald Trump made that very clear.

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<v Speaker 1>The question is will Kamala Harris do that. I think

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<v Speaker 1>she will. I think she's going to get rid against

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<v Speaker 1>her and bring in someone new. But look, I could

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<v Speaker 1>be wrong, and we're still waiting for a full crypto policy,

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<v Speaker 1>clear crypto policy from Harris's from Kamala Harris herself and

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<v Speaker 1>her team. So but this is a very interesting article.

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<v Speaker 1>I think the pressure is on here now, folks. Quick

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<v Speaker 1>word from our sponsor, and that is bitgo, which is

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<v Speaker 1>one of the top tier custodians in the crypto industry.

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<v Speaker 1>They're headed up by Mike Belshie, who's a Web one

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<v Speaker 1>point zero two point zero legend, and Bitgo's working with

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<v Speaker 1>many big players in the industry the custody bitcoin ETFs

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<v Speaker 1>and so forth. They're working with Pantera Capital, Bitstamp Exchange,

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<v Speaker 1>Bitcoin Ira. Nike uses Bitgo's wallet services for their NFTs.

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<v Speaker 1>Some of the services that bitgo offers includes hot wallets,

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<v Speaker 1>custodia wallets, self managed coal wallets, and NFT walts. If

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<v Speaker 1>you'd like to learn more about Bitgo's services and their

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<v Speaker 1>self Custodia wallet as well. Visit bitgo dot com. Link

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<v Speaker 1>will be in a description. Now, guys, Donald Trump, we

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<v Speaker 1>know he's launching a crypto project called World Liberty BI

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<v Speaker 1>and he released the videos saying that Monday he's going

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<v Speaker 1>to be doing a Twitter spaces to talk about it.

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<v Speaker 1>So this is pretty big. Now I'm going to play

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<v Speaker 1>the video for you, but I want to caveat this.

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<v Speaker 1>I am not supporting this project. I don't know the details.

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<v Speaker 1>As always, we need to learn the details, we need

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<v Speaker 1>to research it. We need to make sure this is

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<v Speaker 1>not something that could make us lose our funds. It's

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<v Speaker 1>not a rug pool. I'm not saying he's trying to

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<v Speaker 1>do a rug pool, but as always, don't trust verify.

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<v Speaker 1>So whether you love or hate Donald Trump, that's not

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<v Speaker 1>the point. It's not if you want Donald Trump to

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<v Speaker 1>be present. This is a completely separate thing here that

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<v Speaker 1>he's trying to do, so we want to make sure

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<v Speaker 1>it's legit. But let me play the clip for you.

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<v Speaker 2>Join me live on Twitter spaces at eight pm the

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<v Speaker 2>September sixteenth for the launch of World Liberty Financial. We're

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<v Speaker 2>embracing the future with crypto and leaving the slow and

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<v Speaker 2>outdated big banks behind.

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<v Speaker 1>So very interesting. You know. Part of his announcement there

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<v Speaker 1>he said, we're leaving the big banks behind, the slow

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<v Speaker 1>banks and so forth behind. So I'm very curious you know,

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<v Speaker 1>how this will all work. So I'll look forward to

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<v Speaker 1>the Twitter spaces on Monday. I'm going to be joining

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<v Speaker 1>that to learn more about it, and I'll share the

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<v Speaker 1>details with you guys as we learn more. So, like

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<v Speaker 1>I said, though, before you go jumping into once again.

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<v Speaker 1>You may love Donald Trump, you're gonna vote for him,

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<v Speaker 1>that's not the point. Before you go jump into this,

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<v Speaker 1>make sure you do your due diligence, okay, folks. Final

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<v Speaker 1>item here, Michael Sailor Micro Strategy have bought more bitcoin.

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<v Speaker 1>Man Sailor is a bitcoin addict at this point, but look,

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<v Speaker 1>he's making money, right, He's got the arbitrage going on

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<v Speaker 1>with his company's stock price. That's why, in part why

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<v Speaker 1>he's so bullish. Obviously, he believes in bitcoin is a

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<v Speaker 1>hedge as well. And now they well it says here

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<v Speaker 1>they acquired eighteen thousand, three hundred bitcoin for approximately one

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<v Speaker 1>point one one billion dollars. This is incredible. He says

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<v Speaker 1>they now hold two hundred and forty four thousand, eight

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<v Speaker 1>hundred bitcoin acquired for approximately nine point four five billion

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<v Speaker 1>dollars at thirty eight thousand, five hundred and eighty five

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<v Speaker 1>dollars per bitcoin. Wow, it's insane. He's headed for you know,

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<v Speaker 1>the top of the list. Obviously Satoshi has the most bigcoin,

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<v Speaker 1>and then these Wall Street etf issue wheres, black Rock

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<v Speaker 1>and so forth are climbing the list. Collectively there there,

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<v Speaker 1>I think they're the second now collectively, Blackrock though is

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<v Speaker 1>obviously the leader with the most. But uh Man Sailor

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<v Speaker 1>made the big bet. It's paying off for him. I

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<v Speaker 1>was worried for him as we went through the Blair market,

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<v Speaker 1>but he made it through and I think he's going

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<v Speaker 1>to come out really rich and successful with this bet.

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<v Speaker 1>It's going to pay off because we're entering a new

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<v Speaker 1>phase of crypto adoption. Folks, let me know what you

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<v Speaker 1>think about the news. Leave your thoughts and comments below.

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<v Speaker 1>Don't forget to sign up for my free email newsletter.

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<v Speaker 1>It is one hundred percent free, you don't have to

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<v Speaker 1>pay anything. It includes crypto insights and knowledge, and also

354
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<v Speaker 1>grab a copy of my book, Rethinking Crypto. It's available

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00:19:43.839 --> 00:19:46.519
<v Speaker 1>on Amazon and Barnes and Nobles, dot com and paperback

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<v Speaker 1>and digital. Grab a copy to support the podcast. Buy

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<v Speaker 1>a few copies for your friends and family. Give it

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00:19:51.759 --> 00:19:53.920
<v Speaker 1>as a gift they want to learn about crypto. It

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00:19:54.000 --> 00:19:57.440
<v Speaker 1>includes a lot of information about how crypto works, what

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<v Speaker 1>happened with the SEC and ripple, and why is Wall

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<v Speaker 1>Street here? Tokenization, what the future looks like and if

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00:20:03.759 --> 00:20:06.720
<v Speaker 1>you bought a copy ready, please leave a rating and review.

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<v Speaker 1>Thank you so much. I appreciate you all, and I'll

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<v Speaker 1>talk to you all later