WEBVTT

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<v Speaker 1>Hey, everybody, Welcome into the Thinking Crypto Podcasts. You're home

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<v Speaker 1>for cryptocurrency news and interviews. I'm your host, Tony Edward.

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<v Speaker 1>On your way in. Please let that subscribe button as

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<v Speaker 1>well as the thumbs up button and leave a comment below.

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<v Speaker 1>If you're listening on a podcast platform such as Spotify

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<v Speaker 1>or Apple, please leave a five star rating and review.

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<v Speaker 1>Folks Bitcoin right now under one hundred and sixteen thousand,

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<v Speaker 1>so we're kind of in no man's land, just consolidating.

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<v Speaker 1>So at this point we all have to be patient

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<v Speaker 1>and let the market do its thing. We know we

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<v Speaker 1>are still in a macro bull market based on the data,

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<v Speaker 1>not our feelings and dreams and emotions, but what global

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<v Speaker 1>liquidity is doing. All the Fibonacci levels, the Elliott wave levels,

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<v Speaker 1>and much more. Everything is still intact. So we really

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<v Speaker 1>really have to be patient here. I do believe that

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<v Speaker 1>we're going to bottom sometime this month. We're obviously just

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<v Speaker 1>past the middle of the month, and then we're going

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<v Speaker 1>to rally, and that rally could continue into September then

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<v Speaker 1>have a strong correction. But we'll have to wait and

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<v Speaker 1>see how things play out. One thing that Caleb Friendzen

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<v Speaker 1>and great analysts who've had on the podcast said about

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<v Speaker 1>what bigcoin's doing right now. He said, Bitcoin is oddly

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<v Speaker 1>enough in no man's land. If it breaks above the

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<v Speaker 1>green level all time highs, that's bullish. He shared a

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<v Speaker 1>chart here with those respective levels, and he says, if

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<v Speaker 1>it breaks below the red level the lower lows, that's

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<v Speaker 1>bearish because it's an uptrend on bullish and expect that

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<v Speaker 1>bitcoin will make new all time highs soon. But I'm

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<v Speaker 1>staying objective. So of course you're going to see people

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<v Speaker 1>who don't understand markets. You're going to say, oh, so, Tony,

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<v Speaker 1>you're just telling us that it could go up or

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<v Speaker 1>it could go down. Well, yeah, we don't have a

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<v Speaker 1>crystal ball. We're using the data. Rather than use our

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<v Speaker 1>emotions and get emotional about this stuff, just simply say, hey, look,

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<v Speaker 1>Bitcoin is literally between the highs and the lows right now.

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<v Speaker 1>We got to give it more time to give us

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<v Speaker 1>confirmation as to which direction it wants to go in.

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<v Speaker 1>That's a very hard thing for many people who are

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<v Speaker 1>used to just playing the lottery or going to the

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<v Speaker 1>casino getting instant outcomes. But with investing you have to

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<v Speaker 1>be patient and then you have to wait. Sometimes for

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<v Speaker 1>data to show you the direction. Right. This is why

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<v Speaker 1>I often say, when we have a breakout, let's wait

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<v Speaker 1>for confirmation, because the market can fake us out, just

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<v Speaker 1>like Bitcoin fake this out. Last week, we go to

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<v Speaker 1>move to one hundred and twenty four thousand dollars, a

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<v Speaker 1>new all time high, then it flash crashed on us. Right.

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<v Speaker 1>So these are the things you have to expect in markets.

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<v Speaker 1>And you know I've been in doing this since twenty sixteen.

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<v Speaker 1>So that's why I often tell you, guys, hey, I

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<v Speaker 1>don't know what's happening here. Here are the scenarios and

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<v Speaker 1>the probability of which scenario playing out. So I do

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<v Speaker 1>believe though, because we are in an uptrend, because we

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<v Speaker 1>are in a bull market and we're not far from

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<v Speaker 1>the top, I think we're gonna pick up momentum. I

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<v Speaker 1>don't think this is going to be like a thirty

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<v Speaker 1>percent correction. I could be wrong, but I honestly don't

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<v Speaker 1>think so. The probability of us having a slight pullback

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<v Speaker 1>then continuing is stronger, So be patient, guys. And even Etheroreum.

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<v Speaker 1>If you look at the Etheroreum chart, it is cooling down.

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<v Speaker 1>It's currently at four three hundred and seventy one dollars.

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<v Speaker 1>So ETH was getting a lot of momentum, a lot

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<v Speaker 1>of the liquidity was going to ETH, and that's very

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<v Speaker 1>good for the entire all cooin market. But even ETH

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<v Speaker 1>is cooling down. It was in the overboughd zone. So

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<v Speaker 1>at this point is just like chill out and let's

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<v Speaker 1>find the support level that it's going to bounce on

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<v Speaker 1>and keep moving up. But one thing's for sure, there's

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<v Speaker 1>a lot of buying of etherom right now. So ether

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<v Speaker 1>accumulation heats up. Eight hundred and eighty two million dollars

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<v Speaker 1>in eth snapped up by Bitmine and an unknown whale.

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<v Speaker 1>So Bitmine is tom Lee and that publicly traded company

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<v Speaker 1>that is buying a ton of Eth. They are looking

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<v Speaker 1>to raise twenty billion dollars to buy e theorem, so

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<v Speaker 1>essentially becoming the Micaelsalor strategy of ethereum. So this is incredible.

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<v Speaker 1>A lot of buying is happening on the ETR front.

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<v Speaker 1>A lot of treasury companies are buying, so as stated,

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<v Speaker 1>this is very bullish. We still got more upside, so

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<v Speaker 1>that's why these firms are buying and trying to get

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<v Speaker 1>as much as possible because there's upside and then they

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<v Speaker 1>make a lot of money off the arbitrage with their stocks,

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<v Speaker 1>and we'll see how this all works out in the

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<v Speaker 1>bear market. Now, it does have an advantage because it's

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<v Speaker 1>proof of steak and you can do DeFi with it,

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<v Speaker 1>so you can continue to earn even in a bear

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<v Speaker 1>market when the price is down versus Bitcoin not so much.

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<v Speaker 1>So we'll see how this all pans out as the

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<v Speaker 1>bear market rolls around. So guys, this is a time

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<v Speaker 1>to maybe step away from the markets a bit because

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<v Speaker 1>nothing's happening. But once we find the bottom and we

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<v Speaker 1>start moving, then you really zoom in and pay attention

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<v Speaker 1>on the daily right, So don't fret, don't worry, we're

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<v Speaker 1>still on track. Now, here's some interesting news. The Winklevoss

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<v Speaker 1>Twins Gemini Crypto Exchange has filed for a NASDAC listing

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<v Speaker 1>after a strong bullish debut. So Bullish did an IPO

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<v Speaker 1>last week, and we're seeing a lot of crypto companies

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<v Speaker 1>go public. These things happen in a bull market, right folks.

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<v Speaker 1>No one does an IPO in a bear market, So

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<v Speaker 1>we're seeing a lot of crypto companies joining the herd

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<v Speaker 1>here trying to go public. So Gemini, the Winklevoss founded

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<v Speaker 1>crypto exchange in Custodian, has filed to list on Nasdaq

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<v Speaker 1>under the ticker Gemi. Gemi revealing steepening losses ahead of

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<v Speaker 1>its IPO. So they highlighted here some losses, and we

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<v Speaker 1>know Gemini is a small exchange. They honestly haven't innovated

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<v Speaker 1>or expanded the way that coinbase and other exchanges have,

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<v Speaker 1>So it looks like they're operating at some losses here.

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<v Speaker 1>But you know, these numbers could easily flip as the

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<v Speaker 1>bull market heats up. But it's getting very competitive out there,

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<v Speaker 1>very very competitive, which is good for us as users

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<v Speaker 1>and consumers. Because you have more players in the market,

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<v Speaker 1>everybody has to raise their standard, offer cheaper fees, better services,

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<v Speaker 1>things along those lines. So very interesting that they're looking

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<v Speaker 1>to do an IPO. Look at this, The SMP five

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<v Speaker 1>hundred and the Dow Jones are in talks to launch

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<v Speaker 1>tokenized indexes. Of course they are folks. When I was

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<v Speaker 1>telling you back in twenty eighteen, twenty nineteen, that's stock exchanges, banks,

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<v Speaker 1>financial institutions would offer crypto. Here you go, We're seeing

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<v Speaker 1>every day, week, month, new big institutions are jumping all in.

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<v Speaker 1>So the SMP Dow Jones Indices is exploring partnerships with

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<v Speaker 1>major exchanges, custodians, and DeFi protocols to launch tokenized versions

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<v Speaker 1>of its benchmark. So as crypto matures as an asset

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<v Speaker 1>class and you have all these different financial products, you're

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<v Speaker 1>going to need the analytics, the reporting, the white glove service,

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<v Speaker 1>all the things that exist for assets in the trad

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<v Speaker 1>fire world, right, they're going to be built for crypto.

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<v Speaker 1>So that is what's happening here. Crypto will eventually become

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<v Speaker 1>like the stock market, and in a sense that it

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<v Speaker 1>becomes like a household thing and is traded by everybody.

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<v Speaker 1>It's well known, it's going to be discussed in mainstream media.

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<v Speaker 1>That's what's coming. And of course they're going to tokenize

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<v Speaker 1>stocks and all these things on the blockchain. So Stephanie Roton,

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<v Speaker 1>the firms director of US Equities, told coin Telegraph that

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<v Speaker 1>the index provider is taking a strategic approach to ensure

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<v Speaker 1>tokenized SMP products are launched only on platforms that meet

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<v Speaker 1>high standards for transparency, security and regulatory compliance. Here is

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<v Speaker 1>a quote. By establishing these types of relationships, we hope

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<v Speaker 1>we can work together to participate in a robust infrastructure

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<v Speaker 1>that supports the trading and accessibility of tokenized versions of

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<v Speaker 1>our indexes, ultimately enhancing the investor experience, she said. Very

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<v Speaker 1>bullish news guys, now look at this speaking of tokenization,

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<v Speaker 1>Centrifuge tops one billion dollars of TVL as institutions drive

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<v Speaker 1>tokenize RWA boom, so Centrifuge joins BlackRock's Biddle and Onto

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<v Speaker 1>Finance in the one billion dollar RWA club as demand

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<v Speaker 1>grows for tokenized products. So you're seeing the growth of

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<v Speaker 1>the tokenized asset markets, coinbased, Crack and all these exchanges, Robinhood,

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<v Speaker 1>they all want to launch tokenized stocks, and we are

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<v Speaker 1>seeing different companies pop up, Like I didn't really know

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<v Speaker 1>much about Centrifuge. I knew about Blackrock of course in Onto,

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<v Speaker 1>So this is very very interesting. So Centrifuge's CEO Bogy Illuminati,

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<v Speaker 1>attributed the milestone to institutions moving from pilots to real

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<v Speaker 1>deployments alongside strong on chain allocator demand. Markets need more

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<v Speaker 1>than t bills, Illuminati told coin Telegraph, pointing to JAAA,

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<v Speaker 1>an on chain version of the Janice Henderson's AAA rated

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<v Speaker 1>collateralized loan obligation investment fund. That's a mouthful, Oh my goodness,

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<v Speaker 1>as a natural step for institutions seeking higher yields than

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<v Speaker 1>risk free rates. So, folks, see the direction to puck

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<v Speaker 1>is heading in here. We are seeing a lot of

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<v Speaker 1>growth and maturation in this industry. And guess what real

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<v Speaker 1>estate will be tokenized. Real estate is the world's largest

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<v Speaker 1>asset class. It will all go unchain. The process of

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<v Speaker 1>buying and selling a home will be dis disrupted by

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<v Speaker 1>block train. Intermediaries will be removed, fees will be cheaper,

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<v Speaker 1>and it will be a much more transparent, faster, easier process.

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<v Speaker 1>And Propy is leading to charge with doing that. Propy

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<v Speaker 1>has been around since twenty seventeen. Folks, they have facilitated

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<v Speaker 1>over four billion dollars in transactions. There will licensed Web

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<v Speaker 1>three pioneer, so they have put deeds on the blockchain.

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<v Speaker 1>They have created NFTs for properties, and you can buy

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<v Speaker 1>and sell your house on Propy, and if you want

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<v Speaker 1>to accept crypto, you can do that. So if you

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<v Speaker 1>want to sell your house for bitcoin or XRP, whatever,

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<v Speaker 1>you can do that. And they use coinbase for the

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<v Speaker 1>crypto escro service. So Propy I am a token holder.

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<v Speaker 1>I have been since twenty eighteen. Yes that long, and

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<v Speaker 1>I'm very bullish on this project because I viewed this

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<v Speaker 1>as a long term play. You know, it's going to

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<v Speaker 1>take time to disrupt this massive real estate industry. But

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<v Speaker 1>Propy is ahead of the curve. They are ahead of

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<v Speaker 1>other competitors and they've been doing this for a long time, folks.

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<v Speaker 1>So check them out. Go to propy dot com. Link

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<v Speaker 1>will be in the description. Now look at this news.

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<v Speaker 1>Japan's FSA will approve the country's first yen stable coin,

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<v Speaker 1>the JPYC, is set to launch as early as this fall.

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<v Speaker 1>So the token economy is growing. Digital currencies, tokenized assets, cryptocurrencies,

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<v Speaker 1>digital assets. That is where we're headed, folks. Everything running

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<v Speaker 1>on the blockchain. I've said it many times. The markets,

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<v Speaker 1>the economies, and the governments will all run on blockchain rails.

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<v Speaker 1>You will be using blockchain technology in one way or

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<v Speaker 1>the other, whether you love it or hate it, whether

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<v Speaker 1>you're invested or not. It will be the backbone, just

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<v Speaker 1>like you use the Internet now. It will be the

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<v Speaker 1>backbone of many of these infrastructures. So let me give

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<v Speaker 1>it to details. Japan's Financial Services Agency is preparing to

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<v Speaker 1>prove the issuance of a yen denominated stable coins as

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<v Speaker 1>early as this fall, marking the first time the country

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<v Speaker 1>will allow a domestic fiat PEG digital currency. Tokyo based

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<v Speaker 1>fintech firm JPYC will register as a money transfer business

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<v Speaker 1>within the month and will lead the rollout. Japanese news

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<v Speaker 1>outlet the nihon Kaizi Simbun reported on Sunday, I probably

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<v Speaker 1>butchered dad, but just so you guys know, uh JP

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<v Speaker 1>YC is designed to maintain a fixed value of one

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<v Speaker 1>jp y equals one yen, backed by highly liquid assets

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<v Speaker 1>such as bank deposits and Japanese government bonds. After purchase

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<v Speaker 1>applications from individuals or corporations, the tokens are issued via

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<v Speaker 1>bank transfer to digital wallets. Now, there's no details on

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<v Speaker 1>which blockchains are going to be used, so we'll have

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<v Speaker 1>to wait and see, folks. It's going to be very

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<v Speaker 1>revealing to see which blockchains these governments use in building

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<v Speaker 1>their digital currency and stable coins and much more. Obviously

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<v Speaker 1>some are going to use it for cbdc's as well.

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<v Speaker 1>But you know, this is what we're gonna have to

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<v Speaker 1>be vigilant because I do believe that some stable coins

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<v Speaker 1>are cbdc's with a different mask on, like a wolf

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<v Speaker 1>in sheep's clothing, right, So we have to be vigilant

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<v Speaker 1>to make sure that they're not doing anything effishy here.

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<v Speaker 1>But nevertheless, nothing is stopping this train. Do you guys

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<v Speaker 1>see what's happening here? Governments, the trad five, folks, everybody's

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<v Speaker 1>getting involved here now, speaking of being vigilant, look at this.

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<v Speaker 1>US Treasury weighs digital ID verification in DeFi to tackle

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<v Speaker 1>illicit finance. So this is a bit controversial, folks, that

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<v Speaker 1>the US Department of Treasury is seeking public feedback on

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<v Speaker 1>how digital identity tools and other emerging technologies could be

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<v Speaker 1>used to fight illicit financing crypto markets, with one option

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<v Speaker 1>being embedding identity checks into decentralized financed smart contracts. The

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<v Speaker 1>consultation published this week stems from the newly enacted Guiding

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<v Speaker 1>and Establishing National Innovation for a US stable Coins Act,

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<v Speaker 1>known as the Genius Act, signed into law in July.

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<v Speaker 1>The Act, which sets out a regulatory framework for payment

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<v Speaker 1>stable coin issuers, directs to Treasury to explore new compliance technologies,

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<v Speaker 1>including a programming interfaces, artificial intelligence, digital identity verification, and

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<v Speaker 1>blockchain monitor. One of the ideas in the request for

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<v Speaker 1>common is the potential for DeFi protocols to integrate digital

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<v Speaker 1>identity credentials directly into their code. Under this model, a

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<v Speaker 1>smart contract could automatically verify a user's credential before executing

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<v Speaker 1>a transaction, effectively building KYC, Know your Customer and AML

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<v Speaker 1>anti money laundering safeguards into blockchain infrastructure. So, folks, I

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<v Speaker 1>don't necessarily have an issue with having a digital identity.

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<v Speaker 1>What I think would be a nice balance is I

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<v Speaker 1>can control it and release it to who I want,

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<v Speaker 1>and it is secured by zero knowledge proof technology. So

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<v Speaker 1>if I want to participate in DeFi and the government

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<v Speaker 1>saying okay, in order to participate, you need to give

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<v Speaker 1>your identity, this is where it gets complicated because I

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<v Speaker 1>don't necessarily want the government involved in everything I'm doing,

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<v Speaker 1>Like why do they need to be in everything? But

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<v Speaker 1>I understand bad actors are going to do stuff, So

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<v Speaker 1>I would probably like to have some sort of ZK

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<v Speaker 1>proof technology in place where that I can release my

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<v Speaker 1>data but the government only gets a bit of it.

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<v Speaker 1>You know. I have to flush this thought out a bit,

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<v Speaker 1>and I'll probably write an article about it, But we've

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<v Speaker 1>seen sometimes that the government, you know, they can trample

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<v Speaker 1>on your right. So this is this is where I'm conflicted,

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<v Speaker 1>right because I understand you need to protect people. I

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<v Speaker 1>understand they are bad actors. You need to stop actors.

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<v Speaker 1>But do you need to be involved in every single

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<v Speaker 1>defind transaction. Maybe there's a threshold anything above ten thousand

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<v Speaker 1>or twenty thousand, I don't know. But if I'm doing

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<v Speaker 1>something for a few hundred bucks, why does the government

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<v Speaker 1>need to be involved in that? Right? So this is

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<v Speaker 1>where we're going to have to figure out. And I

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<v Speaker 1>guess this is good that they're asking for commentary and feedback,

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<v Speaker 1>and I'll be trying to speak to some people in

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<v Speaker 1>the industry and see who will be submitting their ideas

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<v Speaker 1>and get them on the podcast to talk about this

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<v Speaker 1>because this is something we do. We do have to

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<v Speaker 1>discuss and find a balance because I understand, once again,

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<v Speaker 1>government has to stop bad actors, and we don't want

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<v Speaker 1>bad actors using crypto to do nefarious things. But also

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<v Speaker 1>we don't want government to trample our rights and our

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<v Speaker 1>right to privacy. So this is where he gets tricky, folks.

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<v Speaker 1>So we'll have to see where it goes. But this

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<v Speaker 1>is where again we've got to be vigilant and watch

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<v Speaker 1>these governments closely. All right, moving ahead, Final news item,

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<v Speaker 1>Norway's sovereign Wealth fund boosted bitcoin exposure by eighty three

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<v Speaker 1>percent in Q two. Standard Charter says, so you got

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<v Speaker 1>sovereign wealth funds around the globe investing in crypto. It's incredible.

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<v Speaker 1>It's amazing how things have changed and the level of

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<v Speaker 1>folks who are investing here. So Norgious Bank Investment Management

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<v Speaker 1>increase its bitcoin equivalent exposure from sixty two hundred bitcoin

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<v Speaker 1>to eleven four hundred bitcoin in Q two. According to

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<v Speaker 1>Standard Charter's Jeoffrey Kendrick, the bulk of the position remains

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<v Speaker 1>in micro Strategy shares, with a small addition in Metaplanet.

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<v Speaker 1>Kendrick noted, so they're essentially using the proxy company. The

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<v Speaker 1>two biggest companies are micro Strategy and Metaplanet that have

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<v Speaker 1>the biggest bitcoin treasury strategy. And clearly these folks are

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<v Speaker 1>some of them are going to ETF route buying the

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<v Speaker 1>actual bigcoin ETFs. Some are going through the stocks of

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<v Speaker 1>the treasury companies. So it's just fascinating to see how

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<v Speaker 1>these things are set up and why these Treasury. Companies

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<v Speaker 1>are going to continue to do well because there's not

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<v Speaker 1>full clarity in every country. The United States hasn't passed

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<v Speaker 1>market structure yet right as an example, the EU has

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<v Speaker 1>done micup, but there are a lot of jurisdictions, like

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<v Speaker 1>probably Norway, there isn't any crypto legislation in place, So

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<v Speaker 1>these companies are like, you know, we're not going to

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<v Speaker 1>go directly. We're going to do indirectly. Hold the stock

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<v Speaker 1>of a company that has BIGCOE on its balance sheets.

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<v Speaker 1>So I think that's what's happening here, folks. But very

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<v Speaker 1>interesting that these folks are investing via a proxy. Right,

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<v Speaker 1>all right, folks, that's the news. Let me know what

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

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

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

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<v Speaker 1>It's one hundred percent free. Link will be in the description.

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<v Speaker 1>Check out my book on Amazon. It's available in paperback

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<v Speaker 1>in digital, and check out my course at Mycrypto course

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<v Speaker 1>dot com. This is a comprehensive course that teaches you

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<v Speaker 1>every aspect of crypto. If you want to expand your

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<v Speaker 1>knowledge about this technology and acid class, this is the

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<v Speaker 1>course for you. Check it out go to Mycrypto course

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<v Speaker 1>dot com. Folks, thank you so much for watching and listening.

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

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<v Speaker 1>later