WEBVTT

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<v Speaker 1>Hey, everybody, Welcome into the Thinking Crypto Podcasts, your 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 sit 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. Folks.

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<v Speaker 1>We've got some huge news from the SEC today. They

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<v Speaker 1>issued a statement highlighting that certain liquid steaking tokens and

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<v Speaker 1>activities are not securities. So we continue to get additional

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<v Speaker 1>clarity from the SEC and this could bode very well

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<v Speaker 1>for the staking approval and the Etherorem's botdytfs as well

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<v Speaker 1>as the old coin ETF approvals because you're getting, you know,

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<v Speaker 1>the activities around these tokens, you're getting clarity around them.

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<v Speaker 1>So the SEC put out a full write up on

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<v Speaker 1>their website and they said liquid steak and refers to

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<v Speaker 1>the process of steaking crypto assets through a software protocol

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<v Speaker 1>or service provider and receiving a liquid steaking receipt token

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<v Speaker 1>to evidence the stakers ownership for these staked crypto assets

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<v Speaker 1>and any rewards that accrue to them. The statement clarifies

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<v Speaker 1>the Division's view that, depending on the facts and circumstances,

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<v Speaker 1>the liquid staking activities covered in this statement do not

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<v Speaker 1>involve the offer and sale of securities within the meaning

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<v Speaker 1>of the Section two A one of the Securities Act

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<v Speaker 1>of nineteen thirty three or the Section three A ten

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<v Speaker 1>of the Securities Act of nineteen thirty four. So really

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<v Speaker 1>great stuff here, folks. We sold Last week, Chair Paul

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<v Speaker 1>Atkins announced Project Crypto, where they would be providing guidance.

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<v Speaker 1>So it seems like we're about to get a lot

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<v Speaker 1>of guidance from the sec back to back, and one

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<v Speaker 1>of the things the market is waiting for is approval

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<v Speaker 1>of staking and ETHEREOMYTFS, and I've been on record saying

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<v Speaker 1>that's going to bring a lot of inflows into ETH

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<v Speaker 1>because Wall Street is always looking for yield and Ethereum

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<v Speaker 1>has the natural staking built into its protocol, So that

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<v Speaker 1>would be really huge for the Etherum's BODYTF in a

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<v Speaker 1>to a Salona SPOTTYTF because that's also proof of steak,

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<v Speaker 1>so any proof of steak blockchain will benefit significantly. So

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<v Speaker 1>this is really great clarity. Nature Raci, who's an ETF expert.

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<v Speaker 1>I interviewed him today actually and I'll be publishing that

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<v Speaker 1>interview tomorrow, so you don't want to miss it. We

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<v Speaker 1>talk about when he thinks Blackrock will file for the

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<v Speaker 1>XRP and Salona SPOTTF and much more. You don't want

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<v Speaker 1>to miss that, so make sure you got the notification

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<v Speaker 1>bell enabled. So he said, SEC says certain liquid steaking

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<v Speaker 1>tokens are not securities. He says, I think last hurdle

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<v Speaker 1>in order for the SEC to approve staking in the

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<v Speaker 1>spot ether ETFs the reason liquid staking tokens will be

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<v Speaker 1>used to help manage liquidity within spot ETFs, something that

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<v Speaker 1>was a concern for the SEC. So, folks, we could

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<v Speaker 1>see the approval of staking in spot ether ETFs this

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<v Speaker 1>month and they could align with the rally. I've been

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<v Speaker 1>telling you guys that I believe the charts are showing

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<v Speaker 1>us that we are headed to the over soul zone.

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<v Speaker 1>We're going to build support levels and bounce from there,

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<v Speaker 1>and I think we're going to see new highs for Bitcoin, Eve,

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<v Speaker 1>x RP and all the all coins. So this could

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<v Speaker 1>be a narrative, a huge one, right, and we could

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<v Speaker 1>see it happen, folks. In addition to other clarity we

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<v Speaker 1>may get from the SEC once again after Paul Atkins

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<v Speaker 1>speech last week talking about the launch of Project Crypto. So, folks,

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<v Speaker 1>great move from the SEC here, really awesome that we're

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<v Speaker 1>seeing this update and we want to see more. I'm

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<v Speaker 1>hoping we see more of this week, next week, and

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<v Speaker 1>later this month as well. So this is really big now.

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<v Speaker 1>Eleanor Turrett gave some additional details regarding this for the

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<v Speaker 1>SEC putting out this guidance. She said it follows a

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<v Speaker 1>letter last week from the industry players like gto Labs,

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<v Speaker 1>bit Wise, multi Coin, cab, Vanak, and Solana Institute urging

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<v Speaker 1>the agency to permit the use of liquid staking tokens

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<v Speaker 1>and propose Solana exchange traded products. So this has implications

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<v Speaker 1>once again for multiple proof of steak blockchains. So incredible stuff.

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<v Speaker 1>And like I said, man, when these staking gets added

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<v Speaker 1>to the Etherorem's body taps, the inflows are going to surge.

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<v Speaker 1>We're going to see a lot of money come in

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<v Speaker 1>to ETH. Many of you know I'm an ETH holder,

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<v Speaker 1>and I believe that the market needs to see ETH

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<v Speaker 1>rally because a lot of all coins are built on Etherorem,

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<v Speaker 1>so we need liquidy to hit that ecosystem and it

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<v Speaker 1>will really help a lot of all coins in the market. Now, folks,

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<v Speaker 1>an update here from Franklin Templeton, which is a Wall

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<v Speaker 1>Street giant building with crypto. They've launched their own ETFs.

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<v Speaker 1>They're doing tokenization and much more. They've got trillions of

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<v Speaker 1>dollars of assets under management. Well, today they said that

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<v Speaker 1>Franklin Templeton is pleased to share that the Benji token,

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<v Speaker 1>that's their tokenized money market fund token, represents shares of

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<v Speaker 1>the Franklin on chain US Government money Fund is now

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<v Speaker 1>being used as base collateral in structured yield strategies developed

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<v Speaker 1>by bounce Bits. This marks one of the first implementations

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<v Speaker 1>of a regulated fund operating with on chain financial infrastructure

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<v Speaker 1>bb Prime. Ounce biz platform will serve as a bridge

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<v Speaker 1>connecting institutional fixed income with automated crypto execution. The platform

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<v Speaker 1>supports regulated custody, smart contract based capital allocation, and automated

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<v Speaker 1>execution of strategies. Folks, look at the financialization of these

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<v Speaker 1>tokenized assets that are happening, and if you look at

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<v Speaker 1>where Franklin Templeton is tokenizing this one, it's on multiple blockchains,

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<v Speaker 1>etherorem Solana, Stellar, Lumens, and much more so. They're using

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<v Speaker 1>the blockchains that you have, many of you hold the

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<v Speaker 1>tokens for so we've often talked about Metcal's law and

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<v Speaker 1>reads law and the network effects. The more builders on

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<v Speaker 1>a blockchain or a network, the more valuable becomes, the

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<v Speaker 1>more valuable it's native token becomes. So all of this

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<v Speaker 1>is very good for the markets. And the more building,

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<v Speaker 1>the more participants, the more transactions, the more fees. All

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<v Speaker 1>of that will drive higher prices. So incredible, incredible news here, folks.

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<v Speaker 1>Quere credit from our sponsor, and that is I Trust Capital.

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<v Speaker 1>I Trust Capital allows you to set up a self

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<v Speaker 1>directed IRA to invest in cryptocurrencies and they offer eighty

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<v Speaker 1>plus crypto assets. Now, this is a great option because

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<v Speaker 1>it gives you huge tax benefits. You could roll over

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<v Speaker 1>your four to one K, your existing IRA to I

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<v Speaker 1>Trust Capital and again tax benefits. Right, that's so important

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<v Speaker 1>because you know when you sell your crypto assets you

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<v Speaker 1>get hit with huge capital gains and much more. You

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<v Speaker 1>can avoid some of that, you know, with I Trust

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<v Speaker 1>Capital and their IRA account. But they also offer a

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<v Speaker 1>premium custody account. This, in my opinion, is the second

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<v Speaker 1>safest option behind self custody and a hardware wallet to

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<v Speaker 1>custody your crypto assets because they are using bank tier

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<v Speaker 1>custody solutions. In fact, they use coinbase Primes institutional custody service,

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<v Speaker 1>which black Rock and all these big institutions use, so

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<v Speaker 1>you can store your crypto here as well, so you

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<v Speaker 1>have multiple options. Folks, this is really great and I

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<v Speaker 1>have an account with them, and of course, once again,

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<v Speaker 1>huge tax advantages. You can buy in cell Crypto twenty

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<v Speaker 1>four to seven. There's low costs, no monthly fee, and

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<v Speaker 1>they have a variety of tokens on the platform. And folks,

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<v Speaker 1>if you sign up with my link, you can get

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<v Speaker 1>one hundred dollars funding bonus and opening your account. So

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<v Speaker 1>check them out. Link will be in a description and

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<v Speaker 1>once again this is a great alternative, gives you tax

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<v Speaker 1>savings and a great custody solution as well, so visit

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<v Speaker 1>the link in the description to learn more. Now, folks,

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<v Speaker 1>look at this. It's so fascinating. It seems very simple.

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<v Speaker 1>But go to white House dot gov slash crypto. How

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<v Speaker 1>things have changed. There is a page on the White

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<v Speaker 1>House's website specific to crypto. That's amazing. It's kind of surreal.

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<v Speaker 1>You almost have to pinch yourself like it's just real

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<v Speaker 1>and it's just amazing, amazing how things have changed. I

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<v Speaker 1>once again, very simple, but it's a page dedicated to

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<v Speaker 1>highlighting the recent report from the White House Digital Asset

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<v Speaker 1>Working Group and just awesome stuff here, guys, amazing amazing stuff.

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<v Speaker 1>How things have changed. All right? Moving ahead now, coinbase,

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<v Speaker 1>their ethereum layer two called Base, had an outage. That's

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<v Speaker 1>not good, so Basse blames the faulty sequencer for thirty

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<v Speaker 1>three minute outage. Fixes made. Now we're still early where

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<v Speaker 1>you're going to have some bugs, and you know, I've

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<v Speaker 1>often said that version one point zero of anything, it's

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<v Speaker 1>going to have bugs. It's not going to be perfect,

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<v Speaker 1>and further iteration is needed. So it wasn't a large outage,

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<v Speaker 1>but obviously Base, the folks at cointas they don't want

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<v Speaker 1>to have this happening over and over, especially as they

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<v Speaker 1>have institutions now building on Base along with retails. So

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<v Speaker 1>let me give you some details. Coinbas is ethereum layer

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<v Speaker 1>two blockchain Base stopped producing blocks for thirty three minutes

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<v Speaker 1>on Tuesday after switching to a backup sequencer that wasn't

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<v Speaker 1>set properly to process transactions. The incident began at six

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<v Speaker 1>seven am UTC when the active sequencers started falling behind

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<v Speaker 1>on block production, prompting Conductor Basis system for managing sequencer

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<v Speaker 1>availability and reliability to switch sequencers. However, its switched to

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<v Speaker 1>an unhealthy Mainenet sequencer that was still being set up

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<v Speaker 1>and thus wasn't able to produce blocks. Base bills x

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<v Speaker 1>accounts set in a post on Tuesday. So it seems

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<v Speaker 1>like something simple here, not too crazy. But you know,

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<v Speaker 1>if you're a coinbase and you got JP Morgan tokenizing

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<v Speaker 1>on Base, and you've got retail doing a lot of stuff,

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<v Speaker 1>this is something you can have happen. But look, there's

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<v Speaker 1>going to be issues like this for many blockchains or

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<v Speaker 1>we've seen it across the board. But they got to

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<v Speaker 1>resolve this and make sure they can handle more transactions

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<v Speaker 1>and much more. But I have confidence in Base, and

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<v Speaker 1>look the article here highlights that Base is still highly centralized,

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<v Speaker 1>so they have to be a bit more decentralized as well.

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<v Speaker 1>But again all the work in progress now. Coinbase also

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<v Speaker 1>launched embedded Wallets tool as self custody DeFi gained MOMENTU

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<v Speaker 1>so Coinbase and their team continue to innovate and build

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<v Speaker 1>some great products. So Coinbased Crypto Exchange is launching a

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<v Speaker 1>developer tool aimed at simplifying wallet onboarding and boosting technical

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<v Speaker 1>capabilities as self custody gains momentum in the United States

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<v Speaker 1>following the passage of procrypto legislation earlier this month. Offer

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<v Speaker 1>through the coinbased Developer Platform CDP, the Embedded Wallets tool

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<v Speaker 1>gives developers access to the same infrastructure that will power

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<v Speaker 1>coinbases forthcoming decentralized exchange, the company disclosed Tuesday. The toolkit

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<v Speaker 1>offers native rewards in USDC. The stable coin issued by

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<v Speaker 1>Circle users can earn up to four point one percent

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<v Speaker 1>APY on USDC balances held within the wallets without requiring staking.

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<v Speaker 1>According to the Coinbased Developer Platform, this APY can either

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<v Speaker 1>be retained by developers or passed on to the users.

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<v Speaker 1>The new developer tool is being targeted at developers across

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<v Speaker 1>decentralized finance, gaming, payments, and web three social media sectors.

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<v Speaker 1>It arrives as coinbase has rebranded its own wallet into

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<v Speaker 1>an everything app now called the Base App after its

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<v Speaker 1>Layer two network. So this is great innovation. I love it.

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<v Speaker 1>I love that coinbas is launching a decentralized exchange. This

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<v Speaker 1>is the way, as the Mandalorian would say, right, this

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<v Speaker 1>is the way, and I love that they're doing this

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<v Speaker 1>aspect and enabling DeFi and much more so, very very

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<v Speaker 1>great stuff here. Now look at this. Brazil's Lower House

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<v Speaker 1>is holding a hearing on creating a national bitcoin reserve. So, folks,

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<v Speaker 1>game theory is playing out. The United States obviously did

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<v Speaker 1>it set up a strategic bitcoin reserve using the bitcoin

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<v Speaker 1>to have in custody, and there are talks of them

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<v Speaker 1>looking to buy bitcoin. I think as things progress, we're

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<v Speaker 1>going to see more countries do this and they're going

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<v Speaker 1>to hold bitcoin like they do gold, because bitcoin is

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<v Speaker 1>digital gold. So this is very bullish. So Brazil's House

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<v Speaker 1>of Representatives will hold a hearing on August twentieth to

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<v Speaker 1>discuss a bill proposing to create of a national bitcoin

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<v Speaker 1>reserve in the country. According to the house website, at

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<v Speaker 1>least six institutions are slated to participate, including the Central

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<v Speaker 1>Bank of Brazil, the Ministry of Finance, a crypto advocacy association,

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<v Speaker 1>and representatives from fintech companies and the banking sector. The bill,

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<v Speaker 1>introduced in November twenty twenty four, seeks to allow up

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<v Speaker 1>to five percent of the country's treasury funds to be

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<v Speaker 1>used to buy bitcoin, which translates to a potential investment

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<v Speaker 1>of roughly fifteen billion dollars assuming the central Bank's total

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<v Speaker 1>reserves of about three hundred billion as of February. Incredible

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<v Speaker 1>stuff here, folks, I mean, this is huge. According to

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<v Speaker 1>the bill, the Cryptocurrency Reserve would protect international reserves against

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<v Speaker 1>exchange rate fluctuations and geopolitical risks, and promote the use

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<v Speaker 1>of blockchain technologies in the public and private sectors. Folks,

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<v Speaker 1>I hope you recognize the paradigm shift that's taking place

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<v Speaker 1>here and that we are still relatively early compared to

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<v Speaker 1>other assets like the gold and precious metals market, real estate,

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<v Speaker 1>and the stock market. Of course, so more to come.

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<v Speaker 1>And that's why I've been saying I'm not only looking

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<v Speaker 1>to take profits in this bull market, but future bull markets,

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<v Speaker 1>and I'll be riding the waves of the bull and

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<v Speaker 1>bear markets, guys. And until you know, this market becomes

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<v Speaker 1>so big you don't have the same level of upside.

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<v Speaker 1>You're still going to be able to make money, you know,

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<v Speaker 1>It's just like the stock market. You can make money,

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<v Speaker 1>But as Paul trus Jones said, nothing moves like crypto

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<v Speaker 1>and bitcoin. This is the fastest horse in the asset

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<v Speaker 1>race right now. Now, speaking of bitcoin, Michigan Pension Fund

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<v Speaker 1>deepens bitcoin exposure with an eleven million dollars stake in

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<v Speaker 1>ARC ETF. So we saw multiple states their pensions started

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<v Speaker 1>investing in bitcoin ETFs and they're going the way of

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<v Speaker 1>arcs right here, so to increase their exposure, specifically in

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<v Speaker 1>RC twenty one shares exchange traded fund. By the end

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<v Speaker 1>of the second quarter, the State of Michigan Retirement System

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<v Speaker 1>owned three hundred thousand ARC shares worth ten er point

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<v Speaker 1>seventy three seven million dollars, according to regulatory filings with

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<v Speaker 1>the SEC. This marks a notable increase from one hundred

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<v Speaker 1>and ten thousand shares it held in the previous year.

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<v Speaker 1>So you got pensions countries looking to buy and they're

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<v Speaker 1>ramping up. They're buying more and more. And you know,

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<v Speaker 1>as I just mentioned, Paul Trooger Jones said, nothing moves

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<v Speaker 1>like this acid claus So it makes sense that they're

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<v Speaker 1>diversifying and they're going to ETF route. So it's safe

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<v Speaker 1>for them. You know, that's all regulated. And of course

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<v Speaker 1>they're talking about the SPOTYTF. So incredible stuff, guys, and

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<v Speaker 1>this is why you've been seeing the inflows increase, you know,

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<v Speaker 1>for all the ETFs in general combined, but also you

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<v Speaker 1>know you look at Black Rocks and the record number

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<v Speaker 1>of inflows it's been having. July was a huge month

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<v Speaker 1>for Bitcoin and etherorem SPOTYTF. So guys, things are moving ahead.

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<v Speaker 1>I hope you are still bullish and you have not

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<v Speaker 1>turned bearish because the price is experiencing a pullback right

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<v Speaker 1>now as we've been talking about. As I highlighted in

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<v Speaker 1>today's stream live stream, we are going to find a

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<v Speaker 1>bottom soon. I believe there's going to be a rally

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<v Speaker 1>this month. Guys. It's not guaranteed, but I believe there's

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<v Speaker 1>a high probability of that happening. So, folks, that's the news.

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<v Speaker 1>Let me know what you think. Leave your thoughts and

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<v Speaker 1>comments below hit the thumbs up button. Great way you

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<v Speaker 1>can support me in the podcast is by subscribing to

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<v Speaker 1>my free email newsletter. It's one hundred percent free. Check

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<v Speaker 1>out my book on Amazon, it's available in paperback, in digital,

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<v Speaker 1>and my course at Mycrypto course dot com. This is

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<v Speaker 1>a comprehensive course that teaches you every aspect of crypto.

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<v Speaker 1>So if you want to expand your knowledge here check

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<v Speaker 1>it out. Go to mycrypto coourse dot com. Folks, all

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<v Speaker 1>the links will being a description. Thank you so much

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<v Speaker 1>for watching, listening. I appreciate you all, and I'll talk

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<v Speaker 1>to you all later