Speaker 1: Hey, folks, welcome into the Thinking Crypto Podcast, your home
Speaker 1: for cryptocurrency news and interviews. I'm your host, Tony Edward.
Speaker 1: On your way in. Please set that subscribe button as
Speaker 1: well as the thumbs up button and leave a comment below.
Speaker 1: If you're listening on a podcast platform such as Spotify
Speaker 1: or Apple, please leave a five star rating and review. Folks,
Speaker 1: as you can tell, I'm back in my home studio.
Speaker 1: I'm back from vacation, me and the family. We went
Speaker 1: to Montreal and we had a really good time. A
Speaker 1: quick vacation, but folks, we got big news to talk about.
Speaker 1: I want to kick it off with bitcoin and right
Speaker 1: now still consolidating around one hundred and seven thousand dollars.
Speaker 1: We're waiting for a breakout to new highs and I
Speaker 1: think that's around the corner. We may see some volatility
Speaker 1: before we get there, but one of the major indicators
Speaker 1: we've been looking at, both in the newsletter as well
Speaker 1: as on the podcast, is that we are seeing global
Speaker 1: liquidity continues to rise and risk assets are following. And
Speaker 1: look at the SMP five hundred, it is hitting new
Speaker 1: all time highs. A perfect v shape recovery is happening here.
Speaker 1: You look at this chart, it's beautiful. The big dump
Speaker 1: that happened with the tariff uncertainty crash, of course, and
Speaker 1: now we're seeing the recovery from that, and even the
Speaker 1: Nasdaq is hitting new all time highs. So what we've
Speaker 1: seen is that all risk assets, whether it be precious metals,
Speaker 1: crypto stocks, and so forth, are all correlated to global
Speaker 1: equity and they've been on the rise. And folks, this
Speaker 1: is a beautiful sign. It shows we are still in
Speaker 1: the bull market. And as mentioned, there's going to be volatility,
Speaker 1: so you have to expect that nothing goes up in
Speaker 1: a straight line. But the signs are there for the
Speaker 1: continuation and for the run up to new highs. You
Speaker 1: just got to be patient. Another factor that is important
Speaker 1: to look at is the dx Y, the dollar currency index.
Speaker 1: You know, I wrote in my newsletter on Sunday that
Speaker 1: it was below ninety eight. It is now below ninety seven.
Speaker 1: It continues to break down. That is very good for
Speaker 1: risk assets due to the inverse correlation. So all the metrics,
Speaker 1: all the data, and once again I'm not sharing my
Speaker 1: emotions now, not my feelings, but the data, because you're
Speaker 1: going to see people in the common section who have
Speaker 1: been saying for months we're in a bear market. It's
Speaker 1: all done right. They have disappeared, and some of them
Speaker 1: are still hanging around because some of them are shorting
Speaker 1: the markets that they want to put freer and pulse
Speaker 1: put cell pressure out there. But we are in a
Speaker 1: bull market, and I think it's risky to short in
Speaker 1: a bull market. You want to short in a bear market,
Speaker 1: that's easy, right. But guys, we still got more upside here.
Speaker 1: So that's the takeaway now, folks. The Big Beautiful Bill,
Speaker 1: which is of course Donald Trump's spending bill, the fund
Speaker 1: the government and to kick off a whole bunch of
Speaker 1: economic prosperity and things along those lines. Well, apparently Senator
Speaker 1: Cynthia Lummis, who's a big time crypto advocate, she tried
Speaker 1: to put some language in the bill regarding crypto So
Speaker 1: this is interesting. It's outside of the Crypto Market Structure Bill,
Speaker 1: in the stable coin bill. So Eleanor Turrett reported that
Speaker 1: amendments to the Big Beautiful Bill regarding crypto taxes are
Speaker 1: still on the table today despite some last minute disagreements. Sunday,
Speaker 1: I'm hearing the White House has gotten wind of this
Speaker 1: and it's pushing for inclusion of Senator Lummis's language in
Speaker 1: the final bill. Now, Dennis Porter tweeted out about this, saying,
Speaker 1: we could see the cap gains exception and the end
Speaker 1: of double taxation on mining rewards in this respective amendment.
Speaker 1: There's also some language around staking. So this would be
Speaker 1: a very good thing for the industry. Let's see if
Speaker 1: it's able to make it through. Obviously, there's a whole
Speaker 1: other aspect to this bill as it relates to politics
Speaker 1: and Democrats and Republicans and funding the government and all
Speaker 1: that stuff. Right, you guys know about all that stuff,
Speaker 1: but we're not here to talk about that because that's
Speaker 1: all politics. But you know, as a release to crypto,
Speaker 1: let's see this language makes it through, because this could
Speaker 1: be really big now, folks, Robinhood is going all in
Speaker 1: on crypto. Today. They had a big event where they
Speaker 1: announced new features, new products and things that they are building.
Speaker 1: So here's the headline. Robinhood pushed deeper into crypto with
Speaker 1: their own blockchain tokenized stock launch. This is a huge guys.
Speaker 1: Robinhood is a massive player. Obviously a lot of retail
Speaker 1: investors use Robinhood. Going back to investing, in stocks. Now,
Speaker 1: robinhood is going all in on crypto, looking to offer
Speaker 1: different crypto products and financial services, and they are looking
Speaker 1: to do a lot of tokenization as well because they
Speaker 1: see the direction to Puck is heading in. They see
Speaker 1: disruptions at their doorsteps, so they are trying to get
Speaker 1: ahead and let me give it to details. So robinhood
Speaker 1: is expanding its crypto offerings by developing its own blockchain
Speaker 1: network based on Arbitrum and launching tokenized stock trading for
Speaker 1: European users. A couple things here. One, they are building
Speaker 1: on Arbitrum, which is an etheroreum layer to blockchains, so
Speaker 1: we're seeing the adoption of public blockchains here. Once again,
Speaker 1: they're not doing some sort of private network thing here.
Speaker 1: Many of these guys are building on public blockchain. And look,
Speaker 1: they may use zk zero knowledge proof and things like
Speaker 1: that to make sure certain data is private, but the
Speaker 1: point is they're building on a public blockchain infrastructure and
Speaker 1: of course tokenizing stocks, so all the traditional assets such
Speaker 1: as stocks, equities and others will be tokenized on blockchain.
Speaker 1: So the company aims to create an all in one
Speaker 1: investment app with twenty four to seven trading self custody
Speaker 1: and cross chain bridging of tokenized assets underpinned by blockchain rails.
Speaker 1: As part of the crypto push, Robinhood is introducing perpetual
Speaker 1: swamps to European users and crypto stinking to US investors
Speaker 1: talk about going all in. This is a lot, folks,
Speaker 1: and they did a big event, and they're CEO of
Speaker 1: lad Tenev of course, spoke about it, and it's incredible.
Speaker 1: One of the largest players in the market in the
Speaker 1: trad fire world going neck deep into crypto. Incredible stuff.
Speaker 1: And then notice what they said here twenty four to
Speaker 1: seven trading. What have I been saying for years and
Speaker 1: years and years right beating the drum to you guys,
Speaker 1: we are headed to the first truly global market twenty
Speaker 1: four seven trading, no opening or closing bell, no holidays,
Speaker 1: no closed on weekends, and all your traditional assets running
Speaker 1: on blockchain. Now you may say, Tony, how can I,
Speaker 1: you know, essentially capitalize on this. Well, for one, look
Speaker 1: at the blockchain they're building on arbitrump, which is an
Speaker 1: etherrem layer too, so you can hold the arbitram token.
Speaker 1: I personally don't. You can holy theorem, which you know,
Speaker 1: the layer twos obviously send value to the layer one,
Speaker 1: which is etherrem so you can holy theorem. I do
Speaker 1: holy theorem. You can hold Robin Hood stock. Of course,
Speaker 1: they are looking to tokenize their own stock as well,
Speaker 1: and then you know the other things that they're doing
Speaker 1: is going to allow more capital to come into the market.
Speaker 1: So they're launching perpetual swaps, crypto staking and all these things.
Speaker 1: So that's you know, pretty much how you can essentially
Speaker 1: get capitalized on this. And you know, once they're tokenized
Speaker 1: stocks are launched, you can see what DeFi services they
Speaker 1: add to that where you can then maybe hold those
Speaker 1: stocks and then lend them out and do all kinds
Speaker 1: of cool things that you can do holding the traditional stock. Right,
Speaker 1: So these are the ways to think about it and
Speaker 1: look at how you can capitalize. This is so bullish,
Speaker 1: so massive, and as always, game theory will play out
Speaker 1: here and you will see their competitors jump in. And
Speaker 1: we're still waiting for big names like Charles Schwab and
Speaker 1: E Trade and all these guys that go all in.
Speaker 1: We heard rumors, but you know they're coming, all the
Speaker 1: big bangs. I think many are waiting on crypto legislation,
Speaker 1: like the stable coin bill, and of course the Market
Speaker 1: Structure bill. So things are moving in the right direction here. Now,
Speaker 1: the folks at Arbitrump did tweet out about this robin
Speaker 1: Hood partnership and that Robinhood's going to be building on Arbitrump,
Speaker 1: and they said, here Arbitrump will serve as robin Hood's
Speaker 1: rails to merge, DeFi and tradify in what is a
Speaker 1: zero to one moment for the entire industry, all while
Speaker 1: onboarding millions of net new users into crypto. Big statements there, folks,
Speaker 1: All right, let's move ahead. This one is big two
Speaker 1: stable cooin issuer Circle, which just went public, applies for
Speaker 1: a national bank charter. So you're seeing a lot of
Speaker 1: these crypto companies are going after the bank charters. You're
Speaker 1: going to see kind of a democratization in banking. No
Speaker 1: longer would JP Morgan and these big banks be the
Speaker 1: only ones running banking services. Now, don't get me wrong,
Speaker 1: I'm not saying they're going to die and go away
Speaker 1: right away. Clearly they've been fighting. You know, we've talked
Speaker 1: ad nauseum about it over the past four years that
Speaker 1: Jamie Diamond and the banking industry was lobbying Elizabeth Warren
Speaker 1: to attack crypto. And that's why you saw against her
Speaker 1: even breaking the law just to attack crypto. Right. You
Speaker 1: saw this old grandma. That is Elizabeth Warren going crazy
Speaker 1: about crypto when the country is facing other problems, right
Speaker 1: that because she's getting paid, she's getting lobby to do that.
Speaker 1: And that's what the big fight was about. And that's
Speaker 1: why you see Wall Street. Now all of them are
Speaker 1: making your announcements. JP Morgan, Bank of America, We're all
Speaker 1: going to get involved, launch crypto trading, we're going to
Speaker 1: support ETFs, we're going to provide banking services. We're going
Speaker 1: to launch our own stable coin. Right, So it's incredible
Speaker 1: what's happening. So here are the key points. Circle Internet
Speaker 1: Group submitted a bank charter application to the Office of
Speaker 1: the Controller of the Currency. That's the occ Circle is
Speaker 1: the issue of the USDC stable coin. The firm hopes
Speaker 1: to establish a national trust bank, which will be named
Speaker 1: first National Digital Currency Bank NA. Anchorage Digital is the
Speaker 1: only other crypto company to obtain such a license, So
Speaker 1: Anchorage Digital is of course a crypto custodian. I've had
Speaker 1: the CEO and some representatives on the podcast over the years.
Speaker 1: The CEO's Nathan McCauley. I think I interviewed him last
Speaker 1: year most recently. I try to get him back on soon.
Speaker 1: But this is going to be a big factor in
Speaker 1: how these crypto companies grow, and they're able to do
Speaker 1: certain banking services because you got stable coins for payments,
Speaker 1: you get the custody aspect, so they're going to be
Speaker 1: able to do a lot more borrowing, lending and all
Speaker 1: that jazz. So incredible stuff, folks. Crypto's just become ubiquitous.
Speaker 1: So you're just seeing it everywhere. Everybody's trying to get involved,
Speaker 1: get their licenses, get their charters, and launching their services.
Speaker 1: It's a big race right now, and you know everybody
Speaker 1: wants to get as much market share as possible, right
Speaker 1: It's great to see this competition is healthy, and folks,
Speaker 1: we are the early adopters. We've been buying the blood
Speaker 1: on the streets, buying the fear and ready to sell
Speaker 1: the blow off top right, folks. Quick word from our
Speaker 1: sponsor and that it's Treasure. Treasure makes beautiful crypto hardware
Speaker 1: wallets that allow you to safely store your crypto. They
Speaker 1: were the pioneers of the hardware wallet. They started doing
Speaker 1: this in twenty thirteen. Their crypto hardware wallets are open
Speaker 1: source and they support a variety of coins, folks, I'm
Speaker 1: talking bigcoins, Salona, xrpe, Theorem, all your top coins. They
Speaker 1: also have a great software called Treasu Suite which allows
Speaker 1: you to easily manage your coins, and they have a
Speaker 1: onboarding service where you can talk to a Treasure rep
Speaker 1: to help set up your device. So there's a handholding
Speaker 1: service there. And I'm a user of the device, I
Speaker 1: personally use the Treasure say five and once again, the
Speaker 1: wallets are really nice and easy to use, and folks,
Speaker 1: you can get five percent off if you buy a
Speaker 1: device using the code thinking crypto all one word thinking Crypto.
Speaker 1: So check it out. Go to Treasure, the links will
Speaker 1: be in the description and check out their hardware wallets. Now, folks,
Speaker 1: this is surprising. The SEC clears way for the first
Speaker 1: Solana steaking ETF. Rex and Osprey prep to launch their
Speaker 1: Salona steaking ETF. This is interesting because the SEC has
Speaker 1: not approved any theorem staking ETF yet, but the way
Speaker 1: Rex and Ospray are going about it is different. So
Speaker 1: let me give it a details. It's not what we
Speaker 1: are seeing out there with the spot ETFs and so forth.
Speaker 1: So on Friday, the SEC informed Rex Shares and Ospray
Speaker 1: Funds that it had no further comments on their Solana
Speaker 1: staking ETF filing. In ETF regulatory parlance, industry watchers often
Speaker 1: view that phrase as the SEC's implicit green light. It's
Speaker 1: the same wink and nod that preceded the launch of
Speaker 1: Spot Bigcin ETFs, some black Rock Fidelity and others. Essentially,
Speaker 1: the review is done fire when ready. According to a post,
Speaker 1: the fund will be trading this Wednesday, July second. This
Speaker 1: product is officially titled the Rex Ospray Solana and Steaking ETF.
Speaker 1: Would be the first US ETF to offer investors exposure
Speaker 1: to Solana's price movements alongside native steaking rewards. Unlike traditional
Speaker 1: crypto trusts, this ETF is structured under the Investment Company
Speaker 1: Act of nineteen forty using a c corporation format, which
Speaker 1: allows staking income to flow through to investors without triggering
Speaker 1: regulatory red flags around yield, taxation or custody. So they're
Speaker 1: taking a different approach here. That structure a hurdle when
Speaker 1: treated as an ordinary income. Staking rewards had proven incompatible
Speaker 1: with trusted based fund models which couldn't easily distribute variable
Speaker 1: staking yields. So they took a very different direction than
Speaker 1: the other players out there. We'll see how this plays
Speaker 1: out when you know the regular staking in e theorem
Speaker 1: ETFs get approved like the spawn ETFs, and how this
Speaker 1: all plays out. But it's nevertheless a smart move. You know,
Speaker 1: they kind of found a workaround here. Bloomberg's James Seyfert
Speaker 1: noted that at the time that the fund's unique SA
Speaker 1: corp format could bypass the typical nineteen BASH four rule
Speaker 1: change process. The sec silence on the C corp workaround
Speaker 1: now appears to validate it has a compliance solution. Rex Shares,
Speaker 1: stretching for its victory lap has already begun teasing or
Speaker 1: publicly teasing the ETFs coming soon. Meanwhile, analysts like Eric
Speaker 1: Balchun has weighed in saying they are good to launch.
Speaker 1: It looks like wow, he posted, So this is interesting
Speaker 1: and we could see some other company do something similar.
Speaker 1: Don't be surprised if you know, like the Etheroreum folks
Speaker 1: who have etherem mets try to go this way with
Speaker 1: a C corporation set up. We'll see, but Nevertheless, this
Speaker 1: is a very very interesting development here. Now, speaking of ETFs,
Speaker 1: the SEC acknowledges the amendment to convert Gray Scales Digital
Speaker 1: Large Cap fun into an ETF covering Bitcoin, eth XRP, Solana,
Speaker 1: and ATA. Folks, I've often said that eventually, in the
Speaker 1: long term, I believe these index ETFs, which gives you
Speaker 1: exposure to let's say the top five or top ten,
Speaker 1: will outperform the individual ETFs, like the bitcoin and so forth,
Speaker 1: because I think people are going to want to get
Speaker 1: more exposure beyond just bitcoin or ether. Right, It's kind
Speaker 1: of what we see with the SMP five hundred, the NASDAC.
Speaker 1: These indexes have grown over time and it becomes an
Speaker 1: easy way for people to invest passively, not having to
Speaker 1: think about which crypto should I add, which stock should
Speaker 1: I add, and so forth. Right, So, this is really
Speaker 1: great and I think we're going to see a lot
Speaker 1: of these basket ETFs approved over time. Now, earlier we
Speaker 1: talked about Robinhood, you know, launching their tokenized stocks and
Speaker 1: so forth. Well, Kracking Exchange set here Breaking Wall Street
Speaker 1: is officially on chain x. Stocks are now live on kracking.
Speaker 1: Sixty US equities tokenized and tradeable twenty four to five,
Speaker 1: so it looks like just over five days, twenty four hours,
Speaker 1: over five days. More coming soon. The folks at stock
Speaker 1: x highlighted that they've also partnered with chain Link, and
Speaker 1: many of you know I'm bullish on chain Link. I
Speaker 1: hope I hold the link token in my portfolio. They said,
Speaker 1: we're excited to announce chain Link has joined the X
Speaker 1: Stocks Alliance as the official oracle infrastructure powering the pricing
Speaker 1: of all x stocks, tokenized equities and ETFs. Watch out
Speaker 1: for chain Link, folks. Many other platforms and blockchains are
Speaker 1: using chain Link for the pricing indexes and oracles and
Speaker 1: much more. So That's why I'm bullish on chain Link,
Speaker 1: and I'm hoping for over one hundred dollars chain Link
Speaker 1: this cycle. But we'll see how that plays out, all right,
Speaker 1: Final news item here, We're Liberty Financial has a mobile
Speaker 1: app in the work. So many of you know we're
Speaker 1: Liberty Financial backed by Trump and his kids, you know,
Speaker 1: involved in that. So it looks like they're going to
Speaker 1: launch some sort of app here. So co founder Zach Folkman,
Speaker 1: he said the following. Regarding the mobile app, he said,
Speaker 1: it's something that we've been working on for a very
Speaker 1: long time now with some of the best partners and
Speaker 1: builders in the space, both on our team and companies
Speaker 1: that we've partner with. And this is the kind of
Speaker 1: culmination of what I was talking about in terms of
Speaker 1: creating a Web two style fintech application that allows a
Speaker 1: non native crypto user to be able to very easily deposit,
Speaker 1: get the benefit of earning through DeFi applications, and be
Speaker 1: able to send and receive crypto between friends and family
Speaker 1: very easily. So this is interesting. Let's see how this
Speaker 1: plays out. I'm not a user of World Liberty Financial.
Speaker 1: I don't hold a token, you know. I'm not hating
Speaker 1: on it, just I just don't. I don't see a
Speaker 1: need to use it. Some of you may have taken
Speaker 1: a bed on it and hold it. But my initial,
Speaker 1: you know, thought was I need to see how this
Speaker 1: plays out because I don't know who to the developers.
Speaker 1: Have they gone through the proper testing, you know, to
Speaker 1: avoid hacks and collapses. We've seen exploits in D five,
Speaker 1: you know, for folks who have not done things well
Speaker 1: and their security is not up to par. Again, it
Speaker 1: depends who's on the team and so forth, and that's
Speaker 1: all me. I need to do a bit more research,
Speaker 1: but I always like to, you know, let these things
Speaker 1: play out, to see, you know, what's happening here, who's involved.
Speaker 1: I've often stated version one point zero of anything is
Speaker 1: not perfect. There's usually a lot of bugs. So I
Speaker 1: don't want to be part of the phase where the
Speaker 1: bugs and I lose my money. Right, So you got
Speaker 1: to be careful. You got to be smart. You got
Speaker 1: to do your research to just keep that in mind
Speaker 1: when you see new projects, you know, something to think about. Now,
Speaker 1: if you're holding the token, it is a little less risk.
Speaker 1: There's always a risk when you're investing, of course, but
Speaker 1: there's less risk, you know. But if you're putting into
Speaker 1: some sort of DeFi a smart contract and doing some
Speaker 1: sort of boring lending, you got to know what you're doing. Man.
Speaker 1: We've seen some massive exploits because we're still in early days.
Speaker 1: And that's not to say DeFi is going away. It's
Speaker 1: gonna stay. It just needs to be further iteration and building.
Speaker 1: But you always got to be smart, do your research,
Speaker 1: test things out, you know, maybe don't put a ton
Speaker 1: of money, put a little bit of money, see how
Speaker 1: it works, and learn your way around and make sure
Speaker 1: that everything's good before you put a lot of money,
Speaker 1: if you know what I mean. All right, folks, let
Speaker 1: me know what you think about this news, especially the
Speaker 1: Robinhood news. It's just huge and even circle you know,
Speaker 1: going after a bank charter. Leave your comments below and folks,
Speaker 1: a great way you can support me in the podcast
Speaker 1: is by subscribing to my free email newsletter. It's one
Speaker 1: hundred percent free. Link will being a description. Check out
Speaker 1: my book on Amazon it's available in paperback in digital,
Speaker 1: and my new course at Mycrypto course dot com. If
Speaker 1: you want to expand your knowledge around crypto, this is
Speaker 1: the course from you. You will hear from founders, CEOs
Speaker 1: and institutional investors. This course is packed with tons of
Speaker 1: value videos, text writeups, downloadable materials and much more. Check
Speaker 1: it out link will beating description. Thank you so much
Speaker 1: for watching and listening, folks. I appreciate you all and
Speaker 1: I'll talk to you all later