Speaker 1: We're seeing some movement with Kamala Harris and Crypto as
Speaker 1: a group of Democrats have formed Crypto for Harris. In addition,
Speaker 1: Congressman rocan Is Crypto meeting with Democrats and industry leaders
Speaker 1: is happening this week. And Elizabeth Warren and Gary Ginster
Speaker 1: are up to their old tricks again, trying to stop
Speaker 1: polymarket and Gary Ginster doing a lot of shady stuff
Speaker 1: at the SEC. In addition, Bitcoin is finding some sort
Speaker 1: of bounce and the vix is reducing in volatility. We're
Speaker 1: gonna break it down and much more. Let's get into it. Hey, everybody,
Speaker 1: welcome into the Thinking Crypto Podcasts. You're home for cryptocurrency
Speaker 1: news and interviews. I'm your host, Tony Edward. On your
Speaker 1: way in. Please hit that subscribe button as well as
Speaker 1: a thumbs up button and leave a comment below. If
Speaker 1: you're listening on a podcast platform such as Spotify or Apple,
Speaker 1: please leave a five star rating and review. Folks, Let's
Speaker 1: start by taking a look at the price of bitcoin
Speaker 1: onder daily. The RSI is seeing a bit of a
Speaker 1: bounce here. Bitcoin at fifty five twenty seven dollars at
Speaker 1: the time of recording. This is a good sign and
Speaker 1: right now Bitcoin is in that over soul zone for
Speaker 1: the RSI, so it's expected that we're gonna see some
Speaker 1: sort of bounce and the price to keep moving up.
Speaker 1: The question is are we gonna roll over and keep
Speaker 1: testing lows and possibly go lower. That is a possibility.
Speaker 1: I'm hoping it doesn't happen and we you know, find
Speaker 1: that bottom and keep moving upwards. But I think we're
Speaker 1: not out of the woods yet, my friends. And some
Speaker 1: other good signs that we are seeing is the Nasdaq
Speaker 1: is doing the same thing. It's bouncing. It's daily RSI
Speaker 1: is bouncing, and the VIS, the volatility index for the
Speaker 1: S and P five hundred is pulling back. So huge
Speaker 1: spike yesterday, massive green candle as you can see here
Speaker 1: on the chart. But we are seeing a pullback, a
Speaker 1: red candle on the daily here. So we want this
Speaker 1: to go down because that's an indication of how volatile
Speaker 1: things could get. So we wanted to calm down. We
Speaker 1: want markets to you know, take a deep breath here,
Speaker 1: let the dust settle, and then we start to move up.
Speaker 1: So we got to give this time. I say, you know,
Speaker 1: give it two to three weeks. Guys. Look, it's annoying.
Speaker 1: It's we're not going to see any type of fireworks
Speaker 1: unless there's some very bullish macro news like money printing,
Speaker 1: liquidity injections and so forth, or raycuts. You know, we'll
Speaker 1: see now. On that note, I did want to share
Speaker 1: what macro investor Dan Tapierro had to say about the VIX.
Speaker 1: He says, likely that yesterday was a low in everything.
Speaker 1: Why third largest spike in the VICKS in the past
Speaker 1: thirty five years, unwarranted to extreme, given much better macro
Speaker 1: fundamental backdrop today than twenty eight and twenty twenty, could
Speaker 1: see the market retest. But Vic's peak is in. He says,
Speaker 1: Bitcoin Nasdaq higher by the end of the year. So
Speaker 1: I'm in total agreement here. And he looks at it
Speaker 1: from a macro standpoint, so not the daily, hourly and weekly,
Speaker 1: but you've got to look at it quarterly, yearly, monthly
Speaker 1: as well. So I think he's spot on. This type
Speaker 1: of spike on the VIX is so extreme that it's
Speaker 1: pretty much done for the most part. So we just
Speaker 1: wanted to get back to a normal level or normalize,
Speaker 1: and we can keep this show going now tomorrow guys.
Speaker 1: As a reminder, Morgan Stanley, their wealth advisors will be
Speaker 1: able to start offering bitcoin ETFs to their wealthy clients.
Speaker 1: And that's fifteen thousand wealth advisors. And if you recall,
Speaker 1: I reported on this news last week. So this is
Speaker 1: going to kick off tomorrow and this could help usher
Speaker 1: in a lot more capital into the bitcoin ETFs. They
Speaker 1: are specifically pitching the black Rock and Fidelity ETFs. So
Speaker 1: let's see what type of volume comes in here. I'm
Speaker 1: not expecting anything crazy day one. It's going to have
Speaker 1: to ramp up. Of course, I would say give this
Speaker 1: a month so we can judge it by then, and
Speaker 1: the folks at Bloomberg and the analysts will have some
Speaker 1: data to share. But another major on ramp being set
Speaker 1: up here. As I stated when I broke this news,
Speaker 1: that game theory is going to play out here. The
Speaker 1: other wirehouses and banks and so forth, they're going to
Speaker 1: start offering this. So the bullmarket is still here, folks.
Speaker 1: There hasn't been any major invalidation and people will be buying. Look,
Speaker 1: they'll be buying at a discount, right, Buying bigcoin at
Speaker 1: this price is pretty good because we are still expecting
Speaker 1: upside and the bull market to continue, all right, let's
Speaker 1: move ahead. We got some interesting crypto news around the
Speaker 1: regulatory space. So eleanor Tarota, Fox Business is reporting a
Speaker 1: lot of big stuff here. First up, a collection of
Speaker 1: Democrats in the crypto space who don't want to see
Speaker 1: Donald Trump run away with this issue have created a
Speaker 1: group called Crypto for Harris. So they created a Twitter profile.
Speaker 1: It says a grassroots network of crypto advocates organizing fundraising
Speaker 1: and developing a nuanced crypto policy approach for the Harris
Speaker 1: for President campaign. So the group says it will hold
Speaker 1: a public virtual town hall next Wednesday to discuss ways
Speaker 1: it plans to support the Harris campaign. Billionaire entrepreneur Mark
Speaker 1: Cuban will speak at the meeting alongside other industry participants.
Speaker 1: So first up, Trump supporters, relax, Okay, I'm just reporting
Speaker 1: the news. I'm not saying to vote for Kamala Harris.
Speaker 1: Neither am I saying to vote for Donald Trump. I'm
Speaker 1: just reporting the news, and you, as an adults, can
Speaker 1: make your own decisions, because crypto is not the only
Speaker 1: issue when it comes to voting in the election. But
Speaker 1: my goal, as I've been stating quite often, is that
Speaker 1: I want crypto to be a non partisan issue. Crypto
Speaker 1: should not be a Republican thing or a Democrat thing.
Speaker 1: It should be a United States thing where it creates
Speaker 1: jobs and wealth opportunities and so forth. So that is
Speaker 1: my goal in reporting this news, and I'm hoping that
Speaker 1: Kamala Harrison her team comes out clearly as to what
Speaker 1: they want to do with crypto. Now, today we did
Speaker 1: hear that Kamala Harris selected her running mates or vice
Speaker 1: president running mate, Tim Watz, and he has not made
Speaker 1: any type of statements about crypto, so we don't know
Speaker 1: where he stands. However, eleanor TRT is reporting that Wally
Speaker 1: Nicol letter to the DNC and Kamala Harris requested a
Speaker 1: VP pick who is pro crypto and knowledgeable about digital assets.
Speaker 1: Once again, we have not heard anything from him, whether
Speaker 1: pro or against er he understands it. So we will
Speaker 1: have to wait and see you on this issue. Now.
Speaker 1: Rocanna is Crypto meeting this week. Remember he did a
Speaker 1: roundtable about two weeks ago where Mark Cuban attended and
Speaker 1: he held it with industry leaders and Democrat leaders and
Speaker 1: so forth. Well, he has another meeting scheduled this week.
Speaker 1: It will take place this Thursday at eleven forty five
Speaker 1: am Eastern. So Democrats, especially like Wiley Nickel and Rocanna
Speaker 1: recognize like Elizabeth Warren and Gary Ginsterer screwed up and
Speaker 1: Democrats are losing the narrative big time, and they're trying
Speaker 1: to save some face here. Now, don't get me wrong.
Speaker 1: There was seventy one Democrats who voted with the Republicans
Speaker 1: in the House to pass the FIT twenty one bills.
Speaker 1: So not all Democrats are anti crypto. Some were simply
Speaker 1: following Elizabeth Warren. Some were just like, we don't know
Speaker 1: about this issue, We're not paying attention. The problem is
Speaker 1: by doing that, you let Elizabeth Warren burn the house
Speaker 1: down right along with Gary Ginzer. Elizabeth Warren had the
Speaker 1: gasoline and Jagary. Gary Ginster had the matches. So it
Speaker 1: turned out to be an epic disaster, and of course
Speaker 1: the industry fought back, punching back against Gary Ginster. He's
Speaker 1: losing in court, he's losing in public opinion, and Elizabeth
Speaker 1: Warren's anti crypto army is falling apart. Now, we also
Speaker 1: got news that Eric Trump, the son of Donald Trump,
Speaker 1: tweeted out today that I have fallen in love with
Speaker 1: crypto slash DeFi stay tuned for a big announcement, and
Speaker 1: he tagged Donald Trump and Donald Trump Junior much more.
Speaker 1: So let's see what he comes up with. It's so
Speaker 1: interesting how both sides are now trying to rally around
Speaker 1: crypto because it is a big issue. Don't get me wrong,
Speaker 1: it's not the number one issue for some people. It is,
Speaker 1: but it could be number five, number six on the
Speaker 1: on the ballot of reasons. You know they're voting, so
Speaker 1: they know there's a lot of money here as well.
Speaker 1: The crypto industry is raised over two hundred million dollars
Speaker 1: to support per crypto candidates. So we'll see what Eric
Speaker 1: comes up with. Hopefully it's not a meme coin or
Speaker 1: something dumb. Hopefully it's something legit. You know what I mean, guys,
Speaker 1: because I've said before I was born at night, but
Speaker 1: not last night. I know politics, and politicians do things
Speaker 1: and say things to get elected. Doesn't mean they'll actually
Speaker 1: do it. But we want to see people be at
Speaker 1: least pro crypto where it's not that they're saying, go
Speaker 1: buy this meme coin, but rather we're going to help
Speaker 1: provide legislation and guidelines and help create jobs and help
Speaker 1: entrepreneurs that have clarity. That's the important part, right, because
Speaker 1: that has economic benefits and it allows people to invest
Speaker 1: safely and not have to worry about if the SEC
Speaker 1: is going to sue them and destroy their bags and everything,
Speaker 1: right guys, like the SEC did with the Ripple case,
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Speaker 1: out the link in the description. Now let's talk about
Speaker 1: our favorite scumbag regulator, Gary Genser eleanor Terrotor is reporting
Speaker 1: that last week the Senate Appropriations Committee marked up the
Speaker 1: SEC's appropriation funding for fiscal year twenty twenty five. Gary
Speaker 1: Ginszer requested two point five nine four billion dollars, but
Speaker 1: this bill only allots him two point two to three billion.
Speaker 1: According to the SEC union, the agency was forced to
Speaker 1: cut staff benefits and salary increases this year because of
Speaker 1: Gainster's increase spending on other things in fiscal year twenty
Speaker 1: three and twenty four. A union memo reads, in effect,
Speaker 1: Chair Againser wagered with your compensation and benefits, knowing that
Speaker 1: his staff would suffer the consequences if he lost the bet. Now,
Speaker 1: the Democrat led Senate is proposing to get the agency
Speaker 1: it's lowest budget since fiscal year twenty twenty three. Not
Speaker 1: only is Gary Genser a's scumbag regulator, he's also a
Speaker 1: scumbag boss. It seems like, so, you know, look, what
Speaker 1: are we gonna say? I'm not even surprised by this
Speaker 1: news because it's Gary Gencer. We've seen the man's track record.
Speaker 1: I mean it goes back to even before the SEC
Speaker 1: and MF Global. Go go research his history and what
Speaker 1: happened there, and we know he's been just doing a
Speaker 1: bunch of nonsense at the SEC, losing in the courts
Speaker 1: and attacking the crypto industry in addition to other things.
Speaker 1: So guys, like I said, I'm not even surprised. What
Speaker 1: can we expect from a scumbag regulator now Gary's boss.
Speaker 1: Senator Elizabeth Warren urges the CFTC to ban political betting
Speaker 1: contracts amid five hundred million dollar Polymarket bets. Oh, Elizabeth,
Speaker 1: you hate that people can bring additional data and facts
Speaker 1: about markets and what they think may happen in elections
Speaker 1: and so forth. Right, not the polls which sometimes can
Speaker 1: be manipulated by different media and so forth. But this
Speaker 1: is typical, Elizabeth Warren. So, Senator Elizabeth Warren, along with
Speaker 1: other Democrat lawmakers, is urging the CFDC to finalize a
Speaker 1: ban on political betting contracts. They argue that such contracts
Speaker 1: would compromise the integrity of elections and democracy by allowing
Speaker 1: wealthy individuals and insiders to manipulate outcomes. This call for
Speaker 1: action comes as Polymarket, a popular betting platform, reports over
Speaker 1: five hundred million dollars in bets in the twenty twenty
Speaker 1: four US presidential election, reaching new all time highs. Lawmakers
Speaker 1: are concerned that the growing popularity of election betting could
Speaker 1: undermine public trust in a democratic process. The CFTC has
Speaker 1: been considering this ban unbelievable that they're trying to do this,
Speaker 1: and it's all Democrats that signed this. I wonder why. Look,
Speaker 1: I've often said it once again, I'm not here to
Speaker 1: tell you who to vote for. I just report the
Speaker 1: news and I give my opinion. But you, as an adult,
Speaker 1: have to make your decision now. As you guys know,
Speaker 1: polymarket is a cryptocurrency base betting market and it's pretty
Speaker 1: much like decentralized. Part of that is probably why Elizabeth
Speaker 1: Warren is going after it because he can't touch it.
Speaker 1: And you know, they hate that people are able to
Speaker 1: bet on this and it's pretty pathetic. But this is
Speaker 1: why we've got to keep fighting. And if the Democrats
Speaker 1: keep allowing this stuff to happen, all this Harris for
Speaker 1: Crypto and what Howers Moro, Conna and all of them
Speaker 1: are doing, they're going to lose in the elections. And
Speaker 1: we know that there's a lot of capital the crypto
Speaker 1: industry is raised, and they're going to use it for
Speaker 1: pro crypto candidates, and we already saw the results of
Speaker 1: that on Super Tuesday and in the primaries. Here's what
Speaker 1: Tyler Winkelwols have to say about the issue, he says,
Speaker 1: Senator Warren once the bann prediction markets for political events,
Speaker 1: contracts that are hard to manipulate in favor of political
Speaker 1: polls that are easy to manipulate. Got it, And it's
Speaker 1: here's I'm actually positive news. Dennis Porter of this Toji
Speaker 1: act fun highlighted that nearly three thousand letters sent to
Speaker 1: the US Senators asking them to co sponsor the Strategic
Speaker 1: Bitcoin Reserve Bill, Democrats received sixty percent of the letters.
Speaker 1: So remember Cynthia Lummis put together that bill, and Donald
Speaker 1: Trump talked about it at the Bitcoin conference, so did
Speaker 1: RFK Junior, by the way, proposing that the United States,
Speaker 1: you know, buy bitcoin and use that as a reserve
Speaker 1: asset in addition to gold and other things. And a
Speaker 1: lot of folks started sending out letters and requests for
Speaker 1: the Democrats mostly here to support this. And you know,
Speaker 1: is this something that could happen this cycle? I don't
Speaker 1: think so. There is a possibility, but I think this
Speaker 1: is something maybe next cycle. I think next cycle. As
Speaker 1: bitcoin and crypto becomes more prominent, especially as the crypto
Speaker 1: industry flexes his muscles, and this election and much more so.
Speaker 1: This is good to see though, and this is why
Speaker 1: we get to keep fighting. We got to keep calling,
Speaker 1: keep emailing, keep doing your thing. Guys. We're making progress,
Speaker 1: we're winning. But you know, Elizabeth Warren and Gary Ginster
Speaker 1: are not giving up, and we got to keep fighting
Speaker 1: and get them kicked out. Vote for John Deaton in
Speaker 1: the state of Massachusetts. That's the one thing I will
Speaker 1: tell you to vote for, because we're dealing with someone
Speaker 1: in Massachusetts who's corrupt, Elizabeth Warren, of course, so we
Speaker 1: want to get at least John Deeton in there. Who
Speaker 1: you know, John is more of a moderate. He's not
Speaker 1: like some super hardcore Republican or anything like that. And
Speaker 1: I agree with him on a lot of issues. You know,
Speaker 1: sensible things right where I think for the most part
Speaker 1: is missing in the United States now, where people use
Speaker 1: common sense, be sensible versus talking points some Democrats or Republicans.
Speaker 1: And I think that's where the majority of the folks
Speaker 1: who win the elections are those people who are in
Speaker 1: the middle right, who if the Democrats or Republicans can
Speaker 1: convince them to vote for them, then they end up winning.
Speaker 1: So I say vote for John Deaton and donate to
Speaker 1: John Deaton as well. I have donated, so I keep
Speaker 1: this in mind. Guy. All right, folks, don't forget to
Speaker 1: sign up for my free email newsletter on substack. It's
Speaker 1: one hundred percent free. Link would be in a description.
Speaker 1: Don't forget to grab a copy of my book, Rethinking Crypto.
Speaker 1: It's available and paperback in digital on Amazon as well
Speaker 1: as Barnes and Nobles. Buy a copy, support in the podcast,
Speaker 1: buy a few copies for your friends and family who
Speaker 1: want to learn about crypto. And if you bought a
Speaker 1: copy ready, please leave a rating and review. It would
Speaker 1: really help out my rankings. Thank you so much for
Speaker 1: watching and listening. I appreciate you all, and I'll talk
Speaker 1: to you all later