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Speaker 1: Hey folks, welcome into the Thinking Crypto podcast. You're home

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for cryptocurrency news and interviews. Your host Tony Edward on

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your way in. Please hit that subscribe button as well

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as a thumbs up button and leave a comment below.

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If you're listening on a podcast platform such as Spotify

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or Apple, please be sure to follow and leave a

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five star rating. As many of you may have caught

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in the previous episode, i am recording in a hotel

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in Las Vegas because I'm attending the Money Show where

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I'm talking about tokenization, crypto and much more so. Apologies

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ahead of time for the audio and video quality. I'm

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not in my studio, of course. But let's jump into

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the news, all right. So Bitcoin is trading over sixty

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six thousand dollars, so we continue to see the rally

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extend here, and we're starting to see some all coins

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waking up, which is a very good sign. In fact,

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XRP has broken out of its sixty six day down

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trend and this is breaking a down trend line and

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this is a very good sign. Expect x ORP, Solana

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Ethan more to start to rally. We will have to

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wait and see what's the extent of this rally is

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is simply a relief rally that rejects off the two

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hundred day moving average because we're still trying to find

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the bottom. Even though I believe the bottom of the

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bear market is very close, but it could already be

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in we just need confirmation, right, So what we're close, guys.

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The majority of the day side is over, and of course,

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if we get positive news on the Clarity Act, we

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will see a very strong rally. The question is can

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we break through that two hundred day average and continue

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to move higher? Now. I don't expect that move to

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happen in one week or a month. It could play

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out over months. Now we are getting some good news

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on the Clarityact. The odds of it passing has crossed

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fifty percent again. It's currently at fifty two per on

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poly market. And this is because of renewed talks around

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the ethics situation. Yesterday I reported that the White House

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agree to certain ethics language to be placed into the

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Respect Bill. Here we've got to report that President Donald

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Trump is said to have made historic concessions in the

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deal to allow an ethics provision in the Crypto Claritiact

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that curtails the president's own activities, and the White House

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is pushing Democrats to accept it. Will the Democrats accept it,

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that's the big question, right. Let's hope they do and

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that the ethics language is sufficient. Now we don't have

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the details yet. We haven't seen any type of release

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on that. And of course the White House is trying

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to get these Democrats to get on board, and there

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is a lot of bipartisan ethics discussions under way, so

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axios confirm that this is happening. Senator Tom Tillis is

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spearheading the negotiations on the GLP side. So it's great

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that the dialogue and discussions are happening. Let's hope they're

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fruitful and it leads to a great compromise and we

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can get this bill out of the Senate where it

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would have to go to the House to be voted,

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and then it will pass or it will go to

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President Trump for our signatures. Of course, time is not

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on our side, as the members of Congress go on

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recess on August seventh. This is for the August recess,

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and we are in an election year, a midterm election year,

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so nothing's going to happen. Come Q late Q three

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into Q four. Eleanor Terry reported that Senator Angela also Brooks,

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who's a Democrat, told her that the White House idea

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to have the Department of Justice enforce the Clariac's ethics

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provision is an unserious offer and says she would not

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support the bill if that is the only enforcement option.

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So stanch Sis saying that the DOJ is going to

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do the bidding a President Trump, and this is not sufficient.

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So we'll see again. The good thing is that negotiations

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are happening, the dialogue is happening. Senator Bernie Moreno, who

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has been working with Senator Cynthia Lummis to secure an

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ethics agreement with the White House, told reporters last night

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that the current proposal would put the DOJ, rather than

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the State Attorney's General, in charge of an enforcement Here's

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a quote from Senator also Brooks. But we'll keep working

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from the floor to reach an agreement that is us

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all accountable. Also Brookes is one of the two Democratic

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senators who voted to advance the Clarity Act out of

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the Senate Banking Committee in May, and has said her

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continued support for the bill. Hinges on strong ethics provisions

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being included in the final texts. So again, she's not

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anti crypto, and she helped to vote it out of

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the Senate Banking Committee, so I think she wants to

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see some proper ethics language in here. Obviously, there's a

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larger ethics situation we have to address with Congress being

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able to trade stocks and other assets. It's not a

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crypto specific issue, but I think a lot of this

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may be addressing meme coins and some of the other

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things happening. But again, this is all great. This is

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a sausage making process and it needs to happen in

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order us to get this bill done. So let's hope

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they're able to come to an agreement and get this

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done folks. Now, US Treasury Secretary Scott Bessant says that

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the Clarity Act is at the one yard line. This

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is being reported by Bloomberg, so we're very close, and

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it's great to hear that progress is being made and

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we're seeing, you know, based on the feedback and the

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dialogue we're seeing happening now. Yesterday I reported to you

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guys that Russia is looking to pass crypto legislation, and

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in fact, they have passed it. So we got reports

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here that Russia has passed the law that regulates the

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circulation of digital currencies and digital rights in Russia for

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the first time, the TASS reports. So this is kind

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of good that it's happening now because it will put

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more pressure and onus on Congress or the Senate to

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get this done because other countries are moving forward. So

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this is very good and moving ahead cryptolobby group, the

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Digital Chamber sues the state of Illinois to block the

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Digital Asset Tax Many. We may recall this was a

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proposal by the governor. I mentioned that the government was

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very close to Elizabeth Warren, so he didn't wake up

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and you know, was like, oh yeah, let me do this.

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Elizabeth Warren is seeding the ideas here and it's of

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course draconian and nonsense. It's other bs. So I'm really

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happy to see that the Digital Chamber is suing these

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guys that if any other states who are friends or

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cronies the officials or cronies of Elizabeth Warren, they better

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not do this or they're gonna get sued. Digital Chamber

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alleged that the Illinois Digital Asset Tax Act violated both

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the US and state constitutions and is pre empted by

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a federal tax law. The lawsuit filed Tuesday, asks a

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federal judge to block the Illinois state government from enforcing

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the tax violates the Illinois State Constitution's uniformity and due

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process clauses, the Commerce Clause of the US Constitution, and

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the Internet Tax Freedom Act by specifying digital asset transactions.

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The suit said, so again, this bill is utter bs,

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but great to see the Digital Chamber and many of

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you know I've had Cody Carbone of the Digital Chamber

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on hundreds of times over the years, so they're doing

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some great work here. This is really really great. And

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of course crypto is a global asset class, so we're

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seeing legislation and guidance being put forth across the OBEs.

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So Pakistan sets up crypto enforcement with dedicated federal unit.

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So the infrastructure being set up here to regulate the market,

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not ban it, regulate it to let it thrive and grow.

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So Pakistan's Federal Investment Agency established a dedicated investigative unit

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to probe cases involving cybercrime and financial fraud. Link to

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cryptocurrency first reported by Dawn News on Tuesday, the Crypto

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Investigation Unit will probe digital asset use in crimes, while

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Pakistan's Virtual Assets Regulatory Authority will continue being responsible for

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digital asset regulation. So guys, this is straightforward, right. You

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have the section of the government that gives out the

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licenses and works with the companies and all these things,

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but you also need the regulatory side and fight bad

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actors who are going to use it to chnology for crime.

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Just like every other acid in technology, right, bad actors

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are going to do their thing. Humans are going to

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be human, So we've got to make sure that we're

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protecting consumers and allowing innovation to foster. So that's the balance.

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And this is really really great, and we're seeing again

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the global movement towards regulating crypto acids. Now some not

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so good news movement labs for Chapter eleven bankruptcy after

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months of move token turmoil. I remember reporting on this

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months ago, So it looks like this blockchain is in trouble.

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But this is what we've talked about for years, guys.

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This is why you want to be diversified. And I've

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often stated not every blockchain is going to be a winner,

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just like not every company and stock that you hold

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is going to be a winner, right, But you want

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to make sure you do your research, and we are

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seeing some not so good things here. So the blockchain

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developer will continue operating under court supervision as it restructures

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following a market making scandal, a co founder suspension, and

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exchange the listings that rock the project. So I think

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this may be a dead project right now. I was

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not a holder of the move token. It did seem

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very promising, but again, it's not possible to invest in everything.

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I don't know if any of you watching or listening

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were you know, had exposures to move token. But this

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is certainly not good news. So we'll have to wait

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and see how it plays out. But again a reminder

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be diversified, continue to do your research. Sometimes you may

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have to exit a project because there are warning signs

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or things that may be coming up that you know

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will not work out well. And the same principle applies

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to your other investments such as stocks and much more. Now,

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Galaxy sets up a five million dollar fund to help

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shield bitcoin against quantum computing threats. So every blockchain is

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doing this right. Quantum is certainly going to be a threat.

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Is it an immediate threat that's happening right now, No,

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but in the years to come, it will be as

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the technology becomes more sophisticated and they can potentially now

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I say potentially the cryptography of certain blockchains, so Bitcoin's

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not excluded from that, and every blockchain has to make

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sure to have some sort of strategy here. So it's

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great to see the investment that's happening and many firms

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backing the readiness initiatives to prevent any type of quantum situation.

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So the Crypto Financial Services Companies said it will begin

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accepting applications for the Galaxy Bitcoin Quantum Readiness Initiative immediately,

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with grants focusing on developing quantum resistant signature schemes, while

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ITT migration tools and security audits. The company said it

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helps other firms will contribute funding and research to accelerate

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the transition to quantum resistant cryptography. This is really great,

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this is what you want to see. Obviously, will take

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some funds like this, and I think the entire crypto

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industry will probably have to set up a massive fund

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is everybody's in the same boat. They're all going to

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be under the attack or threat of quantum, So really

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great to see the folks at Galaxy doing this. I

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actually interviewed one of the folks from Galaxy at the

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Injective Policy summit that I was at last week. He

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heads up crypto lendings so that any interview should be

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published over the next week or so. So they're doing

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a lot, working with different institutions and much more. Now, folks,

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quick word from our sponsor.

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Speaker 1: All right, moving ahead, the UK part begins inquiring into

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banking choke point for crypto businesses. So apparently the UK

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had their own version of Operation choke point two point

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zero which we had here under against there and Elizabeth

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Warren's reign on the financial services side of things, we

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know there was a big attack against crypto under the

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Biden immoration d banking and much more. So, it looks

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like the UK is trying to clean that up in

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their own way. So let me give you some details.

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UK politicians want to know the extent to which the

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country's banks have choked off cryptocurrency firms by refusing them

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bank accounts and introducing restrictions on crypto related payments in

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a cross party inquiry kicked off on Tuesday. The Digital

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Assets All Party Parliament Group is chaired by ed Visi

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from Saying That right, a former Minister for the Digital

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Economy and a member of the House of Lords and

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Grinder Singh Jo San, a Labor MP. According to the

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press release, so this is really great, right. In order

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to get crypto to grow and an innovation to happen,

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you've got to make sure you tie up all loose ends.

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So whether it was the banking or d banking that

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was happening, you got to get that all cleared up.

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I think that's pretty much been cleared up here in

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the United States, but you know, in other regions and countries,

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it looks like they're starting to do their own version

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of what we did here in the United States. Moving ahead,

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AUGUSTUS raises one hundred and eighty million dollars to build

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a clearing bank for the AI and stable coin era.

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We've talked a lot about this, folks. I've had guests

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on via interviews to talk about the building of the

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infrastructure to have stable coin payments been used by AI agents.

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The agentic economy is going to be huge. Many of

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you will have AI agents doing things for you, booking

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your travel, managing your finances, buying your groceries. We're going

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to have a lot, it's coming right, it's inevitable. But

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they're not going to be using zel and they're not

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going to be using cash obviously, so coins are going

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to be leveraged for instant settlements. So many companies are

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looking to build the infrastructure and the competition is heating up.

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So Augustus is startup building a federally chartered clearing bank

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for FinTechs and financial institutions. Said it raised one hundred

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and eighty million dollars to expand its dollar payment infrastructure

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as stable coins reshape global finance. The fundraising value the

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company at one billion dollars. Wow. The investment comes as banks, FinTechs,

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and crypto firms are racing to modernize the infrastructure behind

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cross border payments. While much of the attention has centered

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on stable coin issueries, Augustus is targeting a less visible

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but crucial part of the financial system, correspondent banking. Here's

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the quote. We think distribution breaks at the clearing bank layers.

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CEO Ferdinand Debitz toll Coindesk in an interview. Legacy clearing

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systems are slow, unavailable, take two days to settle and

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close on the weekends, he argued. And he says they're

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bill building an AI native clearing bank designed around stable coins,

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programmable money and always on settlement. Incredible, folks, And I

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think that statement summarizes a lot of the benefits of

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crypto instant settlement, transparency, traceability. You know, it increases trust

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because it eliminates a lot of middleman You have the

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consensus of the blockchain network and much more so. Really

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great stuff here. Final news item. Canton network developer Digital

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Asset raises ten million dollars at same two billion dollar

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equity valuation. Many of you may recall my interview with

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Uvaal Ruse, who is the CEO of Digital Asset, and

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again they are the developers around the Canton Network. I'm

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bullish on this project. I told you about it early.

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I hold the token. And you may have caught my

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interview from a couple of days ago with Mark Wenlan,

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who heads up the digital asset treasury company Canton Strategic Holdings.

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They obviously hold Canton Network on their balance sheet, so

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make sure you check out that interview. We talked a

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lot about Cant but Canton developer Digital Asset continues to

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raise a lot of funds here. Their most recent funding

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round was three hundred and sixty five million dollars. And remember, folks,

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the creator is the backing of all. This is major

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institutions like Goldman, Sachs, Citadel and much more so. This

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is a Wall Street blockchain built for institutions, and it

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has privacy built in. And then the three hundred and

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fifty five million dollars raised last month, it was led

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by Andries and Howariz so A sixteen Z Cryptos. I'll

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let you know that I often talked about watch what

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A sixteen Z's doing. There's a lot of liquidity coming here,

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so great to see they're raising the capital, people are

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believing in the project, They're doing a lot of development,

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and I think honestly, Canton could be a winner. Now

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is that guaranteed? Of course, not right, but I think

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based on what I'm seeing. It's why I'm putting my

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bet on Canton in addition to other assets, and let's

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see hopefully it does well in the next bull market

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because I think obviously will be a huge narrative. All right, folks,

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that's the news. Let me know what you think. Leave

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your thoughts and comments below, hit the thumbs up button

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subscribe if you happen as yet, be sure to subscribe

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to my free email. News that are on substack link

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It's available in paperback in digital. Grab a copy and

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check out my course at Mycrypto course dot com. This

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is a comprehensive course that teaches you everything you need

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to know about crypto and blockchain technology. Folks, so much

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for tuning in. I appreciate you all, and I'll talk

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to you all later.