Speaker 1: Hey, everybody, Welcome into the Thinking Crypto Podcasts. You're home
Speaker 1: for cryptocurrency news and interviews. I'm your host, Tony Edward
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Speaker 1: We have some very big crypto security updates that you
Speaker 1: need to know about. It's related to hardware wallets and
Speaker 1: this goes to every hardware wallet. So Ledger, which is
Speaker 1: the maker of the Crypto hardware wallet. Their CTO, Charles Gillimey,
Speaker 1: warns of a supply chain attack in the JavaScript ecosystem
Speaker 1: after an NPN account compromise. He advises users to carefully
Speaker 1: verify every transaction if using a hardware wallet, and avoid
Speaker 1: on chain transactions entirely if they don't. So be very
Speaker 1: careful here, Double check everything, look out for things that
Speaker 1: look unusual. If you see something fishy or it just
Speaker 1: seems off, don't complete the transaction, folks, and just make
Speaker 1: sure that if you have downloaded any software recently, you
Speaker 1: just double check everything. If you bought a hardware wallet recently,
Speaker 1: you know, be careful, just make sure you go through
Speaker 1: all the process and make sure everything looks good. But
Speaker 1: you know, these hackers, they're they're getting out of hand
Speaker 1: and they're trying to go after people in different ways.
Speaker 1: So this is not a crypto hardware wallet specific issue,
Speaker 1: but it affects crypto hardware wallet. So let me give
Speaker 1: you some more details. Hackers have compromised widely used JavaScript
Speaker 1: software libraries in what's being called the largest supply chain
Speaker 1: attack in history. The injected malware is reportedly designed to
Speaker 1: steal crypto by swapping wallet addresses and intercepting transactions. According
Speaker 1: to several reports, on Monday, hackers broke into the Node
Speaker 1: Package Manager NPM account of a well known developer and
Speaker 1: secretly added malware to popular JavaScript libraries used by millions
Speaker 1: of apps. The malicious codes swaps or hijacks crypto wallet addresses,
Speaker 1: potentially putting many projects at risk. Here's a quote. Here's
Speaker 1: a quote from Ledger's CTO. There's a large scale supply
Speaker 1: chain attacking progress. The NPM account of a reputable developer
Speaker 1: has been compromised. The affected packages have already been downloaded
Speaker 1: over a billion times, meaning the entire JavaScript ecosystem may
Speaker 1: be at risk, so folks bigger than crypto, but be careful.
Speaker 1: Anything that looks weird, double check everything, okay, so just
Speaker 1: be careful. I don't want you guys to lose your crypto.
Speaker 1: And if you need to move something and just anything
Speaker 1: that seems off, hold off. And then depending on your
Speaker 1: hardware maker, you can contact their support line to try
Speaker 1: to get some help. You know, as the saying goes, verify,
Speaker 1: don't trust, so make sure you verify everything. So this
Speaker 1: is something we should all be aware of and pay attention.
Speaker 1: Speaking of security, swiss Borg hacked for forty one million
Speaker 1: soul after a third party API compromise, So this is
Speaker 1: pretty rough here. Swiss Borg, a Switzerland based crypto wealth
Speaker 1: management platform, said hackers exploited a vulnerability in the API
Speaker 1: of its taking partner Kiln, draining about one hundred and
Speaker 1: ninety three thousand Solana tokens from its earn program. The
Speaker 1: swiss Borg app and other Earn products are not impacted
Speaker 1: by the hack, the company wrote in a post on
Speaker 1: x The stolen Solana tokens are worth roughly forty one
Speaker 1: million dollars at the time of recording, so folks be safe.
Speaker 1: But you know the good thing about some of these
Speaker 1: wealth platforms is that they have insurance and you know
Speaker 1: you're covered. So just make sure you're using firms that
Speaker 1: are reputable and that have insurance. For example, I Trust
Speaker 1: Capital they have a premium custody account where you can't
Speaker 1: withdraw at all unless it's to a bank account, because
Speaker 1: they convert your crypto assets to FIAT, So even if
Speaker 1: you mistakenly tried to send crypto somewhere else or whatever,
Speaker 1: you can't. It just goes straight to your bank account
Speaker 1: because it's set up kind of like a bank tiered custody.
Speaker 1: They use coin based custody, fire blocks, fidelity and much more,
Speaker 1: and they of course are insured FDIC insured. So the
Speaker 1: I Trust Capital premium custody account is one of the
Speaker 1: safest ways to custody your assets, folks. And they're working
Speaker 1: with banks and like I said, the top custodians in
Speaker 1: the market, which are all insured. They also offer IRA accounts,
Speaker 1: which gives you tax benefits, so you can roll over
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Speaker 1: custody your assets. I think it's second to self custody
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Speaker 1: know that you're getting the top tier in custodial services.
Speaker 1: And folks, if you sign up using my link, you
Speaker 1: can get a hundred dollars funding bonus. I have an
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Speaker 1: link will be in the description. All right, folks, we
Speaker 1: got some very big news across the market and across
Speaker 1: the globe around this asset class. So coin Shares is
Speaker 1: going to go public in the US through a one
Speaker 1: point two billion dollars SPAC merger. So recently we've been
Speaker 1: seeing a lot of IPOs public listings. Companies are getting bullishit,
Speaker 1: you know. Most recently we heard about Gemini. They're looking
Speaker 1: to raise three hundred million dollars and go public. So
Speaker 1: lots of folks just riding the bullmarket wave here. So
Speaker 1: European asset manager Coinshares has entered into a definitive business
Speaker 1: combination agreement with vine Hill Capital Investment, a publicly traded
Speaker 1: Special Purpose Acquisition Company, also known as a SPAC. Coinshares
Speaker 1: announced Monday that the company will be publicly listed on
Speaker 1: the Nasdaq stock Market in the US. Through the deal,
Speaker 1: this will allow investors to participate directly in trading coinshares stocks,
Speaker 1: fueling its global expansions. The agreement values coincha is at
Speaker 1: one point two billion dollars before the new investment, making
Speaker 1: a significant step in the company's push into the United States. Folks,
Speaker 1: things are heating up. We're still in the bull market.
Speaker 1: That's why all these IPOs and public listings are happening,
Speaker 1: and you're seeing a lot of crypto companies do this,
Speaker 1: so very bullish signs of a healthy market. Obviously, markets
Speaker 1: are cyclical, so this won't last wherever, they will be
Speaker 1: a bear market. But this is where we want to
Speaker 1: ride the wave and we want to look for things
Speaker 1: like this to give us confirmation that we are still
Speaker 1: in a bull market. In addition to other factors, now
Speaker 1: look at this, hash Key launches a five hundred million
Speaker 1: dollar digital asset treasury fund in Hong Kong. So the
Speaker 1: digital acid treasury trend continues, and it's not only in
Speaker 1: the US, but it's global. So these folks are buying
Speaker 1: crypto assets, so that's very bullish, especially if you hold
Speaker 1: the tokens they're buying, such as Bitcoin, Etherorem, Solana. There's
Speaker 1: even an XRP digital acid treasury company, so this is
Speaker 1: really great. So Hong Kong based Hashkei Group said it
Speaker 1: launched a five hundred million dollar investment fund targeting digital
Speaker 1: acid treasuries, initially focusing on exposure to Bitcoin and Etherorem's
Speaker 1: price performance. The fund is structured as a perpetual institutional
Speaker 1: only vehicle, allowing regular subscriptions and redemption, similar to an
Speaker 1: open ended crypto hedge fund, Hashkei said in a statement.
Speaker 1: Unlike a passive exchange traded fund, Hashke's fund is designed
Speaker 1: to invest in projects and companies deploying digital asset strategies. Folks,
Speaker 1: you're just seeing the financialization of this acid class, and
Speaker 1: all types of new funds and projects and products are
Speaker 1: being launched. So all bullish. Now. Crypto, of course, as
Speaker 1: mentioned earlier, is a global acid class, and we're seeing
Speaker 1: movement everywhere. Kazakhstan's president calls for a national crypto Reserve
Speaker 1: digital asset law by twenty twenty six. Do you see
Speaker 1: what's happening here some of the country. You wouldn't expect
Speaker 1: to be very bullish on crypto. They're all bending the
Speaker 1: knee here. It's pretty incredible. So the President of the
Speaker 1: Republic of Kazakhstan laid out plans for the country's AI
Speaker 1: and digital asset endeavors, which include a strategic cryptocurrency reserve,
Speaker 1: in an annual address on Monday. He said the government
Speaker 1: should create a full fledged ecosystem of digital assets as
Speaker 1: soon as possible as part of efforts to find effective
Speaker 1: ways to maximize the return of bank money to the economy.
Speaker 1: He proposed having the country's Agency of Regulation and Development
Speaker 1: of the Financial Market draft the law to this effect
Speaker 1: to be passed before twenty twenty six. Plans for a
Speaker 1: national crypto reserve were also on the president's agenda. Folks,
Speaker 1: you know I mentioned it when the United States created
Speaker 1: a strategic bitcoin reserve, and you know, they talked about
Speaker 1: getting legislation going. We would see game theory play out here.
Speaker 1: Other countries are going to follow, and no one wants
Speaker 1: to be last. So this is huge, I mean, just
Speaker 1: very bullish news, all right. Moving ahead, the SEC Crypto
Speaker 1: Task Force met today with several companies to discuss the
Speaker 1: convergence of crypto and AI. If you've been catching some
Speaker 1: of my interviews lately, this has been a big topic,
Speaker 1: talking about how AI fits with the blockchain ecosystem as
Speaker 1: well as markets. Eventually, folks, and I discussed this in
Speaker 1: my most recent interview with e Toro's CEO Yoni sa
Speaker 1: I published that interviewer this morning. We talked about AI
Speaker 1: agents will help you to trade and help you make
Speaker 1: decisions when it comes to investing, and will monitor your
Speaker 1: portfolio even when you're sleeping. Because we're headed to a
Speaker 1: twenty four to seven, three hundred and sixty five day market.
Speaker 1: No more opening and closing bills, as I've been saying
Speaker 1: for years, no more holidays and all these things, no
Speaker 1: more weekends. Markets will be trading twenty four to seven.
Speaker 1: And that's why there's a race for the tokenization of assets,
Speaker 1: because in order to do that, you need to have
Speaker 1: the assets running on blockchain. So the SEC is discussing
Speaker 1: all these things and it's pretty amazing. In addition, the
Speaker 1: SEC announced that the Crypto Task Force will host a
Speaker 1: public roundtable on financial surveillance and privacy on October seventeenth,
Speaker 1: So kudos to the SEC. They're doing a lot of
Speaker 1: great work here giving the clarity, interacting with the industry,
Speaker 1: providing the guidance, and folks, I will be interviewing Commissioner
Speaker 1: Hester Perce at the end of this month in my
Speaker 1: studio in New York City, so I'm really looking forward
Speaker 1: to that and doing a deep dive with her and
Speaker 1: discuss all of these things. And of course I'm going
Speaker 1: to ask her about those all coin ets, when xrpis
Speaker 1: body TF, when Salona's body TF and much more. Now,
Speaker 1: the US House Committee on Financial Services calls for the
Speaker 1: Senate to pass the Crypto Clarity Act market structure built so, folks,
Speaker 1: we know this has already cleared the House, which the
Speaker 1: folks in the House are saying, hey, Senate, you're up
Speaker 1: to bet. You need to get this through. And we
Speaker 1: heard from White House cryptos are David Sacks a couple
Speaker 1: of months ago that this is the month the ball
Speaker 1: is going to start rolling where they have to go
Speaker 1: through all the you know, the different processes, vote on
Speaker 1: the bill to be reviewed, then it has to be
Speaker 1: discussed on the floor and all that before it gets passed, obviously,
Speaker 1: but look, it's a means to an end and they're
Speaker 1: going to get it going. But glad to see the
Speaker 1: House is putting the pressure here. I see Congressman Tom
Speaker 1: Emmer or Majority GOP Majority whip you know, talking about this.
Speaker 1: The Financial Services GOP also highlighting Senate has to get
Speaker 1: it done. And as I've been telling you guys, this
Speaker 1: is one of the blow off top you know, narratives
Speaker 1: in catalysts, because if this happens in October and with
Speaker 1: global liquidity topping and all these other things are happening,
Speaker 1: watch out. Okay, it doesn't mean that it's going to
Speaker 1: happen to the tee like the bill is passed on
Speaker 1: a Thursday in October or whatever in the second week,
Speaker 1: and that's when the market blows off. It's just we're
Speaker 1: going to be in that top zone. So this is
Speaker 1: where let's keep an eye on how this how far
Speaker 1: this bill makes it, and when it's about to get past.
Speaker 1: So pay attention there, folks. I got some big interviews
Speaker 1: lined up this week. I'll be interviewing folks, some onto Finance,
Speaker 1: Vchain Suite and Flare Network, So stay tuned. Those interviews
Speaker 1: should be published next week. But I wanted to give
Speaker 1: you guys heads up and if you have any questions
Speaker 1: you want me to ask, folks at Onto or SWEE
Speaker 1: or Flare or Vchain, you know you can leave them
Speaker 1: in the common section. So, folks, that's the news. Let
Speaker 1: me know what you think. Leave your thoughts and comments below.
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Speaker 1: teaches you every aspect of crypto. So if you'd like
Speaker 1: to expand your knowledge right, knowledge is power, this is
Speaker 1: the course for you. Go to Mycrypto course dot com. Folks,
Speaker 1: thank you so much for watching and listening. I appreciate
Speaker 1: you all and I'll talk to you all later