Speaker 1: Get ready. Multiple Senators are saying the stable Coin Bill,
Speaker 1: the Genius Act, will be pasted next week. This is
Speaker 1: a huge update. I'll give you all the details and
Speaker 1: you won't believe what the Bank of International Settlements and
Speaker 1: Central banks are doing with smart contracts and tokenization. It's
Speaker 1: very bullish. I'll give you all the details. Let's get
Speaker 1: into it. Hey, everybody, welcome into the Thinking Crypto podcast,
Speaker 1: your home for cryptocurrency news and interviews. I'm your host,
Speaker 1: Tony Edward. On your way in. Please sit that subscribe
Speaker 1: button as well as the thumbs up button and leave
Speaker 1: a comment below. If you're listening on a podcast platform
Speaker 1: such as Spotify or Apple, please leave a five star
Speaker 1: rating and review. Folks. It was a big day for
Speaker 1: Mike Novograts and Galaxy Digital. They went live public on
Speaker 1: the NASDAC. This is another historical moment. We are seeing
Speaker 1: more and more crypto companies going public, whether that's through
Speaker 1: IPOs or SPACs or different types of methods to get listed,
Speaker 1: but incredible stuff here. Now. They have been public in Canada,
Speaker 1: where they were listed on the Toronto Stock Exchange, but
Speaker 1: now they're here in the United States, and of course
Speaker 1: because the United States is much more favorable to crypto.
Speaker 1: Everyone is feeling free to do these things and expand
Speaker 1: their businesses and operate as business as usual versus how
Speaker 1: it was under Genser and Elizabeth Warner and Biden for
Speaker 1: the past four years. So big win here, folks. Signs
Speaker 1: of the times and how bullish things are getting for
Speaker 1: this industry now. Senator Bill Haggerty came out today and
Speaker 1: not only him, Senator Kirsten Gillibrand they both came out
Speaker 1: saying they're ready to pass the Genius Act next week.
Speaker 1: That's a stable cooin legislation. Here's what Senator Bill Haggerty
Speaker 1: had to say. Next week, the Senate will make history
Speaker 1: when we passed the Genius Act that establishes the first
Speaker 1: ever pro growth regulatory framework for payment stable coins. This
Speaker 1: bill will cement the US dollar dominance, protect customers, increased
Speaker 1: demand for US treasuries, and ensure that innovation in the
Speaker 1: digital asset space is in the hands of the United
Speaker 1: States of America, not our adversaries. Folks, This would be
Speaker 1: incredibly bullish if they are able to get this through
Speaker 1: next week. There have been some hurdles with Democrats, but
Speaker 1: the good thing is if you know your politics. Senator
Speaker 1: Kirsten Gillibrand is a Democrat and Bill Haggerty is a Republican.
Speaker 1: We have bipartisan support, and to have Jillibrand leading on
Speaker 1: the Democrat front is very bullish so she can rally
Speaker 1: some of the other Democrats to get this through. Incredible
Speaker 1: stuff here, folks. I'm very excited for next week to
Speaker 1: see how this plays out and to have both Democrats
Speaker 1: and Republicans working together to get this through. Here's what
Speaker 1: bo Hines had to say. Many of you may have
Speaker 1: caught my interview with bo Hines from not too long ago.
Speaker 1: He said, the Genius Act is about securing the future
Speaker 1: of American finance. Stable coins, strengthen US dollar dominance, modernize
Speaker 1: our outdated payment rails, and give Americans faster, cheaper, and
Speaker 1: more transparent ways to move money. Digital asset technology is
Speaker 1: the next generation of finance. The United States is ready
Speaker 1: to lead it, and Cody Carbone, CEO of the Digital Chambers, said,
Speaker 1: we're on the precipice of passing the Genius Act, one
Speaker 1: step closer to securing US dollar dominance into digital age.
Speaker 1: A lot of work to be done, but the monumental
Speaker 1: leadership from bo and others to get this close should
Speaker 1: not be unnoticed. We cannot waste this opportunity, so obviously
Speaker 1: referencing Bahines and David Sachs and their work they've been
Speaker 1: doing and helping to push Congress through, and the industry
Speaker 1: has also been weighing in. So the stage is being
Speaker 1: set here for next week to be a historic week
Speaker 1: with stable coin legislation pass. And I think the market
Speaker 1: could rally off of this. We'll see, you know, it
Speaker 1: just depends on the charts and what is happening in
Speaker 1: the macro. Of course, But as I've been saying, we
Speaker 1: are in a bull market, so good news can help
Speaker 1: move the price. It doesn't always help move the price,
Speaker 1: because you know, you have to look at the technicals
Speaker 1: and the sentiment much more. But if everything aligns here,
Speaker 1: this could be really great now, folks. Quick word from
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Speaker 1: look at this news. The Federal Reserve Bank of New
Speaker 1: York and the Bank of International Settlements are testing smart
Speaker 1: contracts to explore tokenized monetary policy. Of course they are.
Speaker 1: If we are creating a world with stable coins and
Speaker 1: tokenized treasuries and bonds and funds and all these things,
Speaker 1: and everything will be running on the blockchain. It's what
Speaker 1: I've been telling you guys, government's economies, markets will be
Speaker 1: running in the blockchain. What do the central banks have
Speaker 1: to do? They have to be able to plug into
Speaker 1: the blockchains, have interoperability, be able to monitor all of this. Right,
Speaker 1: common sense will tell you that. So we're seeing the
Speaker 1: start of this, and let me give you some more
Speaker 1: details here. So central banks are experimenting with smart con
Speaker 1: to implement monetary policy and tokenized environments, signaling a growing
Speaker 1: interest in integrating blockchain technology into traditional finance. According to
Speaker 1: a joint research study by the Federal Reserve Bank of
Speaker 1: New York's Innovation Center and the Bank for International Settlements
Speaker 1: BIS Innovation Hubs Swiss Center, smart contracts could offer central
Speaker 1: banks flexible, rapid response tools in a tokenized financial system.
Speaker 1: The study, dub Project pying, tested a prototype generic customizable
Speaker 1: monetary policy tokenized toolkit for further research by central banks.
Speaker 1: According to a BIS report published May fifteenth, the smart
Speaker 1: contract toolkit was fast and flexible. The BIS wrote in
Speaker 1: hypothetical scenarios, the Central Bank was able to add and
Speaker 1: change tools instantly. My goodness, Uh, this is incredible. Folks.
Speaker 1: Wake up if you are still on the fence, because
Speaker 1: the private sector and the public sector are moving in tandem,
Speaker 1: and they're both headed towards the same direction, and that
Speaker 1: is crypto and blockchain. And as I've been saying for years,
Speaker 1: blockchain is the next layer on top of the Internet.
Speaker 1: It will change the way we transact and do business
Speaker 1: and how we trust each other. And with all the
Speaker 1: assets on the blockchain via tokenization, once again that central
Speaker 1: banks are going to have to plug into all of
Speaker 1: this and be able to operate it in this environment
Speaker 1: and understand what's happening. So this is so bullish. I
Speaker 1: know it seems like boring new Central Bank BIS blah blah,
Speaker 1: But they wouldn't be doing this if the future wasn't
Speaker 1: what we're talking about here. And again, there's a lot
Speaker 1: of people out there saying this is a scam, a
Speaker 1: ponzi blah blah. Blockchain is crab, it doesn't work. Yet
Speaker 1: the biggest institutions in the world are participating and even
Speaker 1: the governments and their central banks. Folks, count yourself lucky
Speaker 1: if you are here, you understand what the hell is happening,
Speaker 1: and you're taking your bets so to report. Emphasis is
Speaker 1: that if tokenization becomes widely adopted for money and security,
Speaker 1: smart contracts could play a central role in how monetary
Speaker 1: policy is executed. Incredible stuff here, guys, Incredible stuff. All right,
Speaker 1: moving ahead, we got an update with World Liberty Financial
Speaker 1: stable coin. It's now available on multiple networks via chain
Speaker 1: link on Bullish on chain link. Many of you know
Speaker 1: I hold that in my portfolio. So World Liberty financials
Speaker 1: USD one stable coin is now operable across multiple blockchains
Speaker 1: through chain links. CCIP USD one, a US dollar back
Speaker 1: stable coin has seen its adoption grow in reach two
Speaker 1: billion dollars in market capitalization. The CCIP integration addresses crosschain
Speaker 1: security vulnerabilities which have historically costs users billions the firm set.
Speaker 1: So even Trump's crypto businesses are expanding and building and
Speaker 1: using multiple blockchains because interoperability is so important. It's going
Speaker 1: to be a multichain world. And mostly his kids are
Speaker 1: running these businesses, like Eric Trump and Donald Trump Junior,
Speaker 1: and in fact Donald Trump Junior spoke a Consensus saying
Speaker 1: the banks made the biggest mistake of their lives. So
Speaker 1: he's talking about how they fought crypto. He said, there's
Speaker 1: a famous saying that sometimes the enemy of your enemy
Speaker 1: is actually your best friend. Eric Trump told the crowd
Speaker 1: at Consensus in Toronto, Canada, that was the Trumps with
Speaker 1: the crypto community. And I think the banks made the
Speaker 1: biggest mistake of their lives. So we know the banking incumbents,
Speaker 1: as I've been saying for a long time, are the
Speaker 1: ones who weaponize Elizabeth Warren and Gary Genser because how
Speaker 1: dare you move money outside of them? Right? You think
Speaker 1: about JP Morgan, the world's largest bank, and they're plugged
Speaker 1: into the FED, and they've been running the show for
Speaker 1: a long time, making tons of money, both on payments
Speaker 1: as well as investments, right because they have their investment
Speaker 1: arm But how dare you go outside of them and
Speaker 1: go buy tokens on a blockchain? And years ago they
Speaker 1: couldn't touch it, right, They couldn't custody it, they couldn't
Speaker 1: trade it, they couldn't touch it. So you can imagine
Speaker 1: why Jamie Diamond and all these folks were out there
Speaker 1: talking negatively about bitcoin and crypto. It's crap. You'll lose
Speaker 1: all your money. It's a scam. Yet they've been trying
Speaker 1: to build their own version behind the scenes, jpm Coincorum.
Speaker 1: Just this week, I told you folks about JP Morgan
Speaker 1: building on Ondo because they realized public blockchains are the
Speaker 1: way to go. No one wants to use the Wall
Speaker 1: Garden private blockchain. Why would I trust JP Morgan's or
Speaker 1: Bank of Americas or whoever's private blockchain when you can
Speaker 1: manipulate it. But on a public, decentralized blockchain, it's fair game.
Speaker 1: It's open and different. Folks can plug it in and
Speaker 1: build and we can transact safely because it's a public
Speaker 1: blockchain that's decentralized. So that was the game. That's why
Speaker 1: Genser was fighting back and all that he was lobbied.
Speaker 1: Elizabeth Warne was lobbied. You saw Jamie Diamond and Elizabeth
Speaker 1: Warren in a hearing, both ganged up to get other
Speaker 1: against crypto. Right, they came out seeing all kinds of
Speaker 1: negative stuff, and yet look at what JP Morgan is doing.
Speaker 1: So this is what was going on. And then Operation
Speaker 1: Choke point two point zero. They try to Dbank, the
Speaker 1: crypto industry and much more so. It's it's incredible. But
Speaker 1: you know, I've said it years for years now, disruptive
Speaker 1: technology always wins. You know, there's a saying, first they
Speaker 1: ignore you, then they laugh at you, then they fight you,
Speaker 1: then you win, and folks, we are in the then
Speaker 1: you win phase. Look at this. Brian Armstrong, Coinbase CEO,
Speaker 1: tweeted out the following that crypto lending markets are moving
Speaker 1: on chain. Over two hundred million dollars borrowed on coinbase
Speaker 1: retail loans. This was one hundred million dollars two weeks ago.
Speaker 1: So we are seeing borrowing and lending on the rise again.
Speaker 1: This is very good for the market. Now we've got
Speaker 1: to make sure it's done right because we saw what
Speaker 1: happened in the last bull market when it wasn't done
Speaker 1: right and there was a lot of lies, you know,
Speaker 1: three hours Capital selsia FTX of course, and there's some
Speaker 1: other folks block five as well. Right, So I think
Speaker 1: the industry has matured. All the proper safeguards are there,
Speaker 1: but you also have to do your research. You know,
Speaker 1: if you're doing any type of barring lending, understand the
Speaker 1: network it's being done on which exchange. I think coin
Speaker 1: Base is very reputable. Of course, they are public companies
Speaker 1: so they are held to a higher standard. So just
Speaker 1: be careful, do your research, cross your t's, dot your
Speaker 1: eyes and double check everything. But if this is done right,
Speaker 1: it will open up the world of opportunity where if
Speaker 1: you're holding out to your crypto, you put it in
Speaker 1: a smart contract, you lend it out and you earn
Speaker 1: some yield. And obviously there's terms to that. You know,
Speaker 1: if it's a six month term, year, well whatever, then
Speaker 1: you get it back. That will be amazing for the
Speaker 1: crypto industry. And it would also allow us to bridge
Speaker 1: easily to real world transactions like mortgages and you know,
Speaker 1: loans and all kinds of stuff would transfer much more.
Speaker 1: So this is really good to see, folks. That's the news.
Speaker 1: Let me know what you think. Leave your thoughts and
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Speaker 1: my course at Mycryptocurse dot com Thank you for watching
Speaker 1: and listening. I appreciate you all, and I'll talk to
Speaker 1: you all later