Speaker 1: Remember the terminology crypto asset securities that Gary Ginster likes
Speaker 1: to use a lot. Well, the sec has been lying
Speaker 1: to the courts about this term, and I'll share all
Speaker 1: the details with you and what the legal experts are
Speaker 1: saying and what may happen next. And Donald Trump this
Speaker 1: coming Monday is going to do an official launch of
Speaker 1: his crypto project. I'll share the details in the video
Speaker 1: he released. Let's get into it. Hey, everybody, welcome into
Speaker 1: the Thinking Crypto podcast. You're home for cryptocurrency news and interviews.
Speaker 1: I'm your host, Tony Edward. On your way in. Please
Speaker 1: sit that subscribe button as well as a thumbs up
Speaker 1: button and leave a comment below. If you're listening on
Speaker 1: a podcast platform such as Spotify or Apple, please leave
Speaker 1: a five star rating and review. Folks, Let's start with
Speaker 1: the price of bitcoin, because bitcoin right now is over
Speaker 1: sixty thousand dollars. Once again, we're seeing a breakout upwards. Now.
Speaker 1: There's nothing to call home about here. It's a good
Speaker 1: sign that bitcoin's making its way up. Remember what I
Speaker 1: was telling you guys. A key resistance level that bitcoin
Speaker 1: needs to break through its sixty thousand dollars. So this
Speaker 1: is a good sign, but it doesn't mean we're out
Speaker 1: of the woods yet. We are in bloody September, so
Speaker 1: this thing could pump a bit more up and then
Speaker 1: dump again before it finds its bottom in this consolidation phase,
Speaker 1: and we'll get a true breakout. So I want a
Speaker 1: caveat what is happening right now with that information, However,
Speaker 1: we're getting more macro bullish news guys here Japan. They
Speaker 1: said the time is not right for the Bank of
Speaker 1: Japan to raise rates. So remember what happened at the
Speaker 1: beginning of August the Japanese yen trade when Japan decided
Speaker 1: to raise rates right, that caused a massive crash because
Speaker 1: people were borrowing the yen and the investing in US
Speaker 1: equities and so forth. So this is bullish that they're
Speaker 1: not raising And on the flip side, we have cuts
Speaker 1: that are coming for rates here and the cuts have
Speaker 1: been taking place in the EU and so forth. JP
Speaker 1: Morgan released their analysis saying they're sticking to a fifty
Speaker 1: basis point rate cut for next week, so September eighteenth,
Speaker 1: we're going to expect to hear from the Fed they
Speaker 1: are officially cutting rates. I believe it's going to be
Speaker 1: twenty five basis points. I think Jerome Powell and the
Speaker 1: folks of the FED are not gonna want to seem
Speaker 1: like they're politically favoring Kamala Harris because cutting rates, you know, you,
Speaker 1: tend to be good for the markets and the economy.
Speaker 1: And they're going to slow walk this thing because if
Speaker 1: they go to aggressive, it will trigger some fears. People
Speaker 1: may say, oh, something's breaking on the back end. The
Speaker 1: data that's been shared with us is not right. There's
Speaker 1: something happening here. So I don't think they want to
Speaker 1: spook the markets. I think they're going to start with
Speaker 1: twenty five and look, come November, they may cut again
Speaker 1: another twenty five or fifty, Right, but we'll have to
Speaker 1: wait and see. I am anticipating the markets to react positively. Now.
Speaker 1: Any week of any type of FED announcement or things
Speaker 1: like that, there's a lot of volatility. So we do
Speaker 1: have to let the dust settle and look forward to
Speaker 1: the following week.
Speaker 2: Right.
Speaker 1: We've seen these patterns before, and that's why I'm repeating
Speaker 1: them to you to remind you because sometimes people are
Speaker 1: waiting in so much anticipation they expect something to happen
Speaker 1: the day over the next day. No, no, no, markets
Speaker 1: are going to be volatile next week, so it's going
Speaker 1: to be a very interesting week. But good signs, guys,
Speaker 1: we're seeing good signs for the continuation of this bull market,
Speaker 1: for Bitcoin to break out and go to new all
Speaker 1: time highs. That is a process. Look towards Q four,
Speaker 1: not September, and then all coins will follow. All right,
Speaker 1: let's jump into the big news, folks. This news makes
Speaker 1: my blood boil. I'm so pissed off. And it has
Speaker 1: to do with scumbag regulator Gary Ginser and the sec
Speaker 1: And you know, sometimes I think I can't believe my
Speaker 1: tax dollars are being used for this nonsense. So you
Speaker 1: know the term crypto asset securities, that's a terminology Gary
Speaker 1: Ginsters started using over the past couple of years. Right,
Speaker 1: it's a way to spread his narrative and gaslight people
Speaker 1: right to say all of these things are securities, right,
Speaker 1: but they're not. You have to litigate each one of
Speaker 1: them because some of them are securities and some are not.
Speaker 1: Some are decent, right. And we've seen a lot of
Speaker 1: court cases and battles and so forth. Obviously the most
Speaker 1: famous is the Ripple case and Ripple came out of
Speaker 1: that with the lion's share of the victory, where XRP
Speaker 1: was declared intrinsically not a security. Now, specifically, in the
Speaker 1: Binance US case, the SEC in their court documents added
Speaker 1: a footnote and they said that they regret any confusion
Speaker 1: they may have invited by falsely and repeatedly staking that
Speaker 1: tokens themselves are securities. What so are you telling me?
Speaker 1: The head of the SEC has been saying these things
Speaker 1: on TV for years and the SEC is apologizing. But folks,
Speaker 1: it gets much more crazier than that. They're saying this
Speaker 1: in the Binance case footnote right that, oh we're sorry,
Speaker 1: we didn't mean to use crypto acid securities. We made
Speaker 1: a mistake here. But in the e Toro case where
Speaker 1: they just settled with the SEC, they use that phrase
Speaker 1: eight times. Jake Trawirsky here said, the SEC finally addressed
Speaker 1: criticism of its nonsense term crypto asseid security by checksnoes
Speaker 1: lying about and abandoning it. So the SEC is going
Speaker 1: to amend all its other complaints to remove the term.
Speaker 1: Now to write right, I genuinely can't get over how
Speaker 1: insane this is. The SEC used the term crypto ascid
Speaker 1: securities eight times in the e Toro settlement order they
Speaker 1: issued on the same day they told the federal court
Speaker 1: they wouldn't use it to avoid confusion. This is what
Speaker 1: you call hypocrisy lies corruption. This is scumbag activity from
Speaker 1: a scumbag regulator, and that regulator is Gary Genser, who
Speaker 1: heads up the sec. This is the same agency that
Speaker 1: got sanctioned and had to close its Utah office. This
Speaker 1: is the same agency that got called arbitrary and capricious
Speaker 1: in the Great Skill case. This is the same agency
Speaker 1: who's headed up by Gary against who got threatened to
Speaker 1: be subpoenaed by a sitting in Congressman Patrick McHenry for
Speaker 1: not handing over FTX documents. This is what we're dealing with, folks.
Speaker 1: This is why we got to fight. These people don't
Speaker 1: care about the law, because at the end of the day,
Speaker 1: they're answering to their masters, their puppets on strings. I've
Speaker 1: been telling you guys what the agenda is here. And
Speaker 1: Gary Genser, as I told you in yesterday's podcast, is
Speaker 1: being investigated by Republican members of Congress because he's been
Speaker 1: accused of political favoritism. I've told you guys, that the
Speaker 1: political divide of the SEC, the Republican Commissioners hester person
Speaker 1: Marquwata pro crypto, trying to get clarity in the market,
Speaker 1: Gary Genser, and the other two Democrats against crypto. I've
Speaker 1: been doing a whole bunch of nonsense and look at
Speaker 1: what's happening here. But folks, it gets even more crazy.
Speaker 1: They literally yesterday tweeted out a note here about crypto
Speaker 1: asset securities from the SEC's account. They said five ways
Speaker 1: fraudsters may lure victims into scams involving crypto asset securities.
Speaker 1: Wait a minute, I thought you were just apologizing for
Speaker 1: the using this term. That is confusing and you shouldn't prejudge.
Speaker 1: This is nonsense. They're lying to the courts once again.
Speaker 1: They want their hypocrites. They will do anything, they will
Speaker 1: break the law. I've said that many times. Fred Rispoli,
Speaker 1: attorney Fred Rispoli, who I've had on the podcast many times,
Speaker 1: retweeted this tweet, saying the post in and of itself
Speaker 1: is a scam, as the SEC the same day swore
Speaker 1: to a federal judge that there is no such thing
Speaker 1: as crypto acid securities. I've requested this to be community noted, folks,
Speaker 1: you can't make this stuff up. Stuart ALDROADI Ripples chief
Speaker 1: legal officers, said, So the SEC finally admits that one
Speaker 1: crypto asset security is a made up term, and two
Speaker 1: to prove a crypto asset security is an investment contract,
Speaker 1: the SEC needs evidence of a bundle of contracts, expectations,
Speaker 1: and understandings. Think it's time for the SEC to admit
Speaker 1: it has become a twisted pretzel of contradictions. Don't worry.
Speaker 1: I updated your logo for you, and he made the
Speaker 1: SEC logo into a pretzel. Folks. Can you believe a
Speaker 1: government agency which is supposed to uphold the law protect
Speaker 1: investors is doing this type of activity, is lying to
Speaker 1: courts right, is breaking the law in many different ways. Unbelievable.
Speaker 1: But guys, this is all because of disruption. They wouldn't
Speaker 1: be doing this if the Tradify incumbents didn't make the
Speaker 1: call to Gary Genzer. As I've been saying, Gary's a
Speaker 1: Goldman guy. He's part of that Wall Street crowd folks,
Speaker 1: and he's helping them to catch up here. Because I've
Speaker 1: often stated, look at two things happening in parallel, all
Speaker 1: of Wall Street Black Rock Fideli and so forth are
Speaker 1: here issuing ETFs, doing tokenization, custodying funds for different crypto firms,
Speaker 1: while the startups coinbased, Uni, Swamp and Ripple and all
Speaker 1: these folks are getting Well's notices and they're getting sued.
Speaker 1: How can these two things be happening at the same time. Insane.
Speaker 1: But we're going to win, folks. We are already winning
Speaker 1: because the courts are the ultimate balance of power here,
Speaker 1: and we're seeing Gary Ginser is getting embarrassed and taking
Speaker 1: big l's in the courts. But the problem is because
Speaker 1: there's no accountability, there's no one to hold him accountable.
Speaker 1: He's just going to keep doing it because to him,
Speaker 1: it's just like, Okay, well, oh we took a loss. Okay,
Speaker 1: I'm just going to keep doing what I want to do.
Speaker 1: I'm gonna break the law, I'm gonna lie, I'm going
Speaker 1: to backstab, I'm gonna make up terms. And you remember
Speaker 1: crypto asset security. Who else have you we heard in
Speaker 1: the industry use that term prometheum. I had literally Adam Kaplan,
Speaker 1: the CEO of that company, on the podcast, and he
Speaker 1: was repeating that term. And I've been saying I think
Speaker 1: with the broker dealer license that they got. He probably
Speaker 1: made the promises. Yeah, I'm going to repeat that term, right.
Speaker 1: This is why people have been saying permetheum and shady,
Speaker 1: and I believe this is what Gary was trying to
Speaker 1: do with FTX. But unfortunately Gary didn't do his homework,
Speaker 1: didn't do his due diligence and his actual job, and
Speaker 1: FTX was scamming the hell out of people stealing funds,
Speaker 1: and his whole plan fell apart when FTX collapsed. So
Speaker 1: this is unbelievable. This really pisses me off, and Gary
Speaker 1: against needs to be fired and we got to keep fighting. Now.
Speaker 1: A lot of folks weighed in on this. You can
Speaker 1: imagine all the lawyers and legal experts in the crypto
Speaker 1: industry were just angry as hell. Here Catherine Mirrorrick of UNISWAP.
Speaker 1: She said, whether or not you care about crypto, if
Speaker 1: you care about fundamental fairness in our legal system, then
Speaker 1: you should be deeply concerned about what the SEC's approach
Speaker 1: to crypto has been. No government agency should work this way.
Speaker 1: Government agencies are trusted with enormous power to enforce laws,
Speaker 1: which is why they are required to give us all
Speaker 1: notice of their view of those laws before bringing the
Speaker 1: full force of the government against any of us. But
Speaker 1: the SEC is not just inventing new theories of how
Speaker 1: to apply securities laws in its crypto cases. As it
Speaker 1: goes along, it is contradicting itself with those theories, sometimes
Speaker 1: within days or hours, often within the same courthouse. The
Speaker 1: SEC has active cases right now. Premis originally on legal
Speaker 1: theories that it no longer stands behind when press But
Speaker 1: instead of dropping those cases, the SEC moves to a
Speaker 1: new theory and continues on why. She asks, I'll tell
Speaker 1: you why the agenda kill these crypto startups so that
Speaker 1: they're banking, tratify incumbents. All of Wall Street can catch up.
Speaker 1: They can launch your own blockchains, they can build on
Speaker 1: these blockchains. They can sell you the crypto assets so
Speaker 1: that they can collect the fees, and they can control
Speaker 1: the market like they have for a very long time.
Speaker 1: That's what's going on here. Why would an agency go
Speaker 1: to this length to lie and do all these things. Yes,
Speaker 1: you may argue this is big government, right, and a
Speaker 1: lot of these agencies have gotten rogue, But when you
Speaker 1: look at the actions and once in the two things
Speaker 1: that are happening in parallel. Right, if Wall Street wasn't
Speaker 1: here and they weren't building, and JP Morgan didn't have
Speaker 1: their own blockchain, and Blackrock didn't have a Bitcoin ETF
Speaker 1: and so for I would say, Okay, you know this agency,
Speaker 1: they're just crazy. They just want to collect a bunch
Speaker 1: of fines from these companies. But there's two things happening
Speaker 1: in parallel. They want to kill all of these startups
Speaker 1: and those that are getting too powerful, right, and they're
Speaker 1: going after NFTs and everything. It's ridiculous at this point,
Speaker 1: but the industry is fighting back. The courts are the
Speaker 1: balance of power, and the industry is raised over two
Speaker 1: hundred million dollars to fight back in elections, so we
Speaker 1: can get more members of Congress on board, so we
Speaker 1: can get legislation pass and put Gary Ginser in this place.
Speaker 1: And here. Eleanor Terryt of Fox Business report that the
Speaker 1: crypto industry has so far given over one hundred and
Speaker 1: ninety million dollars in political donations in the twenty twenty
Speaker 1: four US election cycle. Compare this to the twenty twenty election,
Speaker 1: when crypto made up only fifteen million dollars in donations,
Speaker 1: so huge leap from last the last cycle in twenty
Speaker 1: twenty two. Right incredible stuff. Even a bunch of groups
Speaker 1: are forming to fight back. So here. Miles Jennings of
Speaker 1: a sixteen Z crypto said, it's time to fight for
Speaker 1: the right to create. Today, A sixteen Z standard with
Speaker 1: Crypto and open cre kickstarting the Creator Defense Fund, a
Speaker 1: legal defense fund for creators using blockchain technology to connect
Speaker 1: with fans, monetize their work, and bring more creativity to
Speaker 1: the world. We're contributing one million dollars and partnering with
Speaker 1: top law forms to offer legal services and consultations for
Speaker 1: artists and creators who are facing potential government action or
Speaker 1: simply want to ensure they are structuring their NFT projects
Speaker 1: in a legal and compliant manner. So we're fighting back, folks.
Speaker 1: The industry is not anymore. I remember when Ripple got sued,
Speaker 1: like everyone went quiet, everyone ran to their corners. Now
Speaker 1: if folks are even being proactive and issuing lawsuits against
Speaker 1: the SEC before they even get a walls notice, which
Speaker 1: is great, And all the exchanges and firms that are
Speaker 1: getting sued, for the most part, the majority are fighting back.
Speaker 1: They're taking the SEC to the court and look I
Speaker 1: got to give credit where credits due. Ripple is the
Speaker 1: reason for that. Ripple fighting back and punching back at
Speaker 1: the bullie really give the market confidence because people start
Speaker 1: to see the chinks and the armor of the SEC
Speaker 1: that they're lying they're gonna do all types of nonsense
Speaker 1: and hypocrisy. Let's not go into the whole Bill Hindman
Speaker 1: hipocrisy stuff, right, and his speech about ethereum. That was
Speaker 1: a big part of Ripple's defense because the agency itself
Speaker 1: just corrupt at its core, and it has been for
Speaker 1: a long time. And then you add a scumback regulator
Speaker 1: like Gary Genser into the mix and it makes it
Speaker 1: even worse. Right, So things have gotten worse, but we're
Speaker 1: fighting back and that's what we got to do. Now.
Speaker 1: Something I missed, guys, and I forgot to tell you
Speaker 1: about yesterday apparently, and there's an article here from the
Speaker 1: New York Post on September ninth, Kamala Harris's donors pushed
Speaker 1: the nominee to fire FDC chair Lena Khan and SEC
Speaker 1: chair Gary Cancer. I completely missed that. I think they
Speaker 1: see these people as liabilities and that they're just crazy.
Speaker 1: So they're saying, hey, kick these people out. So I
Speaker 1: think that if Donald Trump win, we know he's going
Speaker 1: to get fired, right. Donald Trump made that very clear.
Speaker 1: The question is will Kamala Harris do that. I think
Speaker 1: she will. I think she's going to get rid against
Speaker 1: her and bring in someone new. But look, I could
Speaker 1: be wrong, and we're still waiting for a full crypto policy,
Speaker 1: clear crypto policy from Harris's from Kamala Harris herself and
Speaker 1: her team. So but this is a very interesting article.
Speaker 1: I think the pressure is on here now, folks. Quick
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Speaker 1: will be in a description. Now, guys, Donald Trump, we
Speaker 1: know he's launching a crypto project called World Liberty BI
Speaker 1: and he released the videos saying that Monday he's going
Speaker 1: to be doing a Twitter spaces to talk about it.
Speaker 1: So this is pretty big. Now I'm going to play
Speaker 1: the video for you, but I want to caveat this.
Speaker 1: I am not supporting this project. I don't know the details.
Speaker 1: As always, we need to learn the details, we need
Speaker 1: to research it. We need to make sure this is
Speaker 1: not something that could make us lose our funds. It's
Speaker 1: not a rug pool. I'm not saying he's trying to
Speaker 1: do a rug pool, but as always, don't trust verify.
Speaker 1: So whether you love or hate Donald Trump, that's not
Speaker 1: the point. It's not if you want Donald Trump to
Speaker 1: be present. This is a completely separate thing here that
Speaker 1: he's trying to do, so we want to make sure
Speaker 1: it's legit. But let me play the clip for you.
Speaker 2: Join me live on Twitter spaces at eight pm the
Speaker 2: September sixteenth for the launch of World Liberty Financial. We're
Speaker 2: embracing the future with crypto and leaving the slow and
Speaker 2: outdated big banks behind.
Speaker 1: So very interesting. You know. Part of his announcement there
Speaker 1: he said, we're leaving the big banks behind, the slow
Speaker 1: banks and so forth behind. So I'm very curious you know,
Speaker 1: how this will all work. So I'll look forward to
Speaker 1: the Twitter spaces on Monday. I'm going to be joining
Speaker 1: that to learn more about it, and I'll share the
Speaker 1: details with you guys as we learn more. So, like
Speaker 1: I said, though, before you go jumping into once again.
Speaker 1: You may love Donald Trump, you're gonna vote for him,
Speaker 1: that's not the point. Before you go jump into this,
Speaker 1: make sure you do your due diligence, okay, folks. Final
Speaker 1: item here, Michael Sailor Micro Strategy have bought more bitcoin.
Speaker 1: Man Sailor is a bitcoin addict at this point, but look,
Speaker 1: he's making money, right, He's got the arbitrage going on
Speaker 1: with his company's stock price. That's why, in part why
Speaker 1: he's so bullish. Obviously, he believes in bitcoin is a
Speaker 1: hedge as well. And now they well it says here
Speaker 1: they acquired eighteen thousand, three hundred bitcoin for approximately one
Speaker 1: point one one billion dollars. This is incredible. He says
Speaker 1: they now hold two hundred and forty four thousand, eight
Speaker 1: hundred bitcoin acquired for approximately nine point four five billion
Speaker 1: dollars at thirty eight thousand, five hundred and eighty five
Speaker 1: dollars per bitcoin. Wow, it's insane. He's headed for you know,
Speaker 1: the top of the list. Obviously Satoshi has the most bigcoin,
Speaker 1: and then these Wall Street etf issue wheres, black Rock
Speaker 1: and so forth are climbing the list. Collectively there there,
Speaker 1: I think they're the second now collectively, Blackrock though is
Speaker 1: obviously the leader with the most. But uh Man Sailor
Speaker 1: made the big bet. It's paying off for him. I
Speaker 1: was worried for him as we went through the Blair market,
Speaker 1: but he made it through and I think he's going
Speaker 1: to come out really rich and successful with this bet.
Speaker 1: It's going to pay off because we're entering a new
Speaker 1: phase of crypto adoption. Folks, let me know what you
Speaker 1: think about the news. Leave your thoughts and comments below.
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Speaker 1: Thank you so much. I appreciate you all, and I'll
Speaker 1: talk to you all later