Speaker 1: Hey, everybody, Welcome into the Thinking Crypto podcast. You're home
Speaker 1: for cryptocurrency news and interviews. I'm your host, Tony Edward.
Speaker 1: On your way in. Please sit that subscribe button as
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Speaker 1: not too much to talk about as relates to the price,
Speaker 1: but I did want to highlight that bitcoin on the
Speaker 1: daily chart. The mac D has flipped bullish, so we
Speaker 1: got our first green bar here and let's see how
Speaker 1: far this takes us. As I've been saying, we got
Speaker 1: to be patient. The market is still recovering from that
Speaker 1: October thirteenth dump and manipulation, and you still have some
Speaker 1: headwinds because we're still waiting for the government to reopen.
Speaker 1: We're still waiting for the tariff situation to resolve. Obviously,
Speaker 1: we're gonna wait for the Fed to see their decision
Speaker 1: next week or this coming week with regards to raycuts,
Speaker 1: in addition to other factors, so there's a lot on
Speaker 1: the whole, but we got to be patient and just
Speaker 1: let the market do its thing. But as I stated,
Speaker 1: in yesterday's podcast and in my newsletter, we're seeing some
Speaker 1: positive signs here. Now we need bitcoin to close this
Speaker 1: week strong. So tomorrow a Sunday, of course, we need
Speaker 1: a strong close. I think above one hundred and eleven
Speaker 1: thousand would be really good because right now on the
Speaker 1: weekly chart, the bears are still in control. Now in
Speaker 1: the monthly the bulls are in control. But again, the
Speaker 1: market has to do his thing. We got to start
Speaker 1: seeing the strength. But look, we can still get faked
Speaker 1: out and go test some lows. Right, We've seen these
Speaker 1: things time and time again, so let's see what happens.
Speaker 1: Let's be patient. One thing we continue to see is
Speaker 1: that global liquidity continues to break out, and that has
Speaker 1: been leading all acid classes. And we saw gold hit
Speaker 1: a top. Whether that's local or the blowff top, I
Speaker 1: don't know. But then the S and P five hundred
Speaker 1: started hitting new all time high, so we're starting to
Speaker 1: see the rotation. So again we got to be patient.
Speaker 1: Tom Lee, who's made some very great calls throughout the
Speaker 1: bullmarket cycle, he is expecting cryptoa rally in today end
Speaker 1: of the year and says the S and P five
Speaker 1: hundred could climb another ten percent. So again, he's made
Speaker 1: some great calls, but obviously doesn't mean he's absolutely going
Speaker 1: to be right with this call. But I do believe
Speaker 1: the higher probabilities on his side for his take here
Speaker 1: because of the data, not emotions, not feelings, not biased,
Speaker 1: simply the data does align with his narrative that he's
Speaker 1: saying here, and so fingers cross, all of this plays
Speaker 1: out right, folks. All right, I want to talk about
Speaker 1: Coinbase's base Layer two token that is coming, folks, because
Speaker 1: we got an update from JP Morgan. Now I'm not
Speaker 1: want to take investment advice from JP Morgan, but the
Speaker 1: point is it looks like they're trying to prep the
Speaker 1: market for this launch. So Coinbase stock surges after JP
Speaker 1: Morgan upgrade on Base USDC potential. So JP Morgan Chase
Speaker 1: upgraded the cryptocurrency exchange, highlighting the new monetization opportunities tied
Speaker 1: to its base network and USDC payoff strategy. The bank's
Speaker 1: analysts lifted their rating to overweight from neutral and raise
Speaker 1: their price target to four hundred and four dollars per year,
Speaker 1: implying roughly fifteen percent upside from current levels. JP Morgan
Speaker 1: said Coinbase is leaning into its base layer to blockchain,
Speaker 1: and exploring ways to better capture value from the platform's growth.
Speaker 1: The bank estimated that the launch of a base token
Speaker 1: could represent a twelve billion to thirty four billion dollar
Speaker 1: market opportunity, with coinbases retain share potentially worth four billion
Speaker 1: to twelve billion dollars. Analysts noted that the tokens distribution
Speaker 1: would likely prioritize developers, validators, and base community, So folks,
Speaker 1: there's an opportunity here. I agree with JP Morgan on this.
Speaker 1: Once again, I'm not taking advice from them. I'm just
Speaker 1: reporting the news. But we have seen coinbase grow significantly.
Speaker 1: They're the largest exchange in the United States with a
Speaker 1: very strong brand. They have expanded internationally and they can
Speaker 1: teue to do so. They launch Base, which is getting
Speaker 1: a lot of adoption. Even JP Morgan has been tokenizing
Speaker 1: on Base, and you have other institutions as well, and
Speaker 1: there have been rumors and statements from certain folks at
Speaker 1: coinbase that they're going to launch a token. Now, this
Speaker 1: is a token I will look at investing in. So
Speaker 1: I'm not telling you you should do that. You should
Speaker 1: do your own research, but I'm going to look into
Speaker 1: doing this because I think this will capture a lot
Speaker 1: of value. Again with the brand, the positioning of coinbase
Speaker 1: in the United States. You got the crypto market structure
Speaker 1: build coming up, right. We often talk about one of
Speaker 1: the top signals is when the coinbase app ranking hits
Speaker 1: you know, one through ten, it's in the top ten,
Speaker 1: sometimes going to number one. Those are top signals, right,
Speaker 1: because it's showing that retail is here. So Coinbase has
Speaker 1: a massive brand, it's one of the most trusted exchanges. Right,
Speaker 1: So this is a coin I would be looking to
Speaker 1: invest in. Now, Will I go buy as soon as
Speaker 1: it launches and if it's near the peak of the market,
Speaker 1: Hell no, Right, I'm gonna wait for it to correct
Speaker 1: and like in the bear market, and then buy now.
Speaker 1: You can go buy the top if you want. That's
Speaker 1: you know, your prerogative. But I'm just telling you that's
Speaker 1: what I'm doing. And I'm gonna do what has paid
Speaker 1: off for me buying the blood on the streets, never
Speaker 1: buying into pumps and being patient and let the coins
Speaker 1: do their thing as the bull market heats up. So
Speaker 1: guys putting this on your radar, let's watch this coin.
Speaker 1: You see what binances coin b and B has done.
Speaker 1: I mean that thing is over one thousand dollars right,
Speaker 1: and I do believe a basis token can do really well.
Speaker 1: So again something to keep on your radar. Now, speaking
Speaker 1: of Binance, huge news Kyrgyzstan to launch a stable coin,
Speaker 1: and B and B plans CBDC in partnership with advisor
Speaker 1: champing Zao. So we know cz was added as an advisor,
Speaker 1: so they got their foot in the door. Binance is
Speaker 1: going to be the one supporting them in many different ways.
Speaker 1: So it's amazing to see these countries building with crypto
Speaker 1: right and setting up different crypto products and using the
Speaker 1: blockchain technology and much more so. The Central Asian nation
Speaker 1: of Kyrgyzstan has rolled out a new stable coin KGST,
Speaker 1: pegged one to one to the country's SOM currency. President
Speaker 1: Sadir Japarov announced on Friday, following a meeting that included
Speaker 1: Binance founder Champang Zau. Zau signed an agreement with Kyrgyzstan's
Speaker 1: National Investment Agency in April, pledging to cooperate with the
Speaker 1: government in cryptocurrency and blockchain development in the nation. Now,
Speaker 1: following the second meeting of the nation's National Council for
Speaker 1: the Development of Virtual Assets and Blockchain Technologies. Kyrgyzstan is
Speaker 1: rolling out a or the KGST stable cooin PEG to
Speaker 1: the country's som currency, the government announced. Japarov also issued
Speaker 1: other crypto related decrees following the meeting, instructing the country's
Speaker 1: Economy Ministry to improve the legislative framework for digital assets,
Speaker 1: calling on the Council to submit proposals for a state
Speaker 1: cryptocurrency reserve within two months, and telling the National Bank
Speaker 1: to begin pilot testing of the digital PSALM, a CBDC
Speaker 1: apparently separate from the kg SC stable coin. Wow, lots
Speaker 1: happening here, guys, Very bullish for the country itself, Very
Speaker 1: bullish with the adoption of crypto because you know, neighboring
Speaker 1: countries are going to be paying attention to this game.
Speaker 1: Theory will play out, and this is very big for Binance.
Speaker 1: Clearly going to be building on the finance mart chain
Speaker 1: and Binance is probably gonna help facilitate a lot of this.
Speaker 1: So pretty incredible move here by Binance, very strategic and
Speaker 1: like I said, guys, I'm sure they're gonna get call
Speaker 1: some of the other countries who are participating. Cz himself
Speaker 1: you know, he tweeted out about this and highlighted all
Speaker 1: of these respective wins. So incredible stuff here now, folks,
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Speaker 1: check this news out, guys, this is cool adoption news.
Speaker 1: Ferrari to launch digital token to let fans bid on
Speaker 1: its Lemons winning race car. So you may not be
Speaker 1: into cars, you may not be into Ferrari and car
Speaker 1: racing and much more. I love Ferrari as a company
Speaker 1: and a brand in the cars. I wish I could
Speaker 1: own one maybe, As you know, I take profits in
Speaker 1: this bullmarket, But of course I think I have some
Speaker 1: smarter things to do with the money right now, you know,
Speaker 1: take your family, eliminate debt. Things I got right, but
Speaker 1: you know, you never know. I wouldn't mind buying a
Speaker 1: classic Ferrari, not necessarily a new one. But anyway, I digress.
Speaker 1: This is really cool adoption. We're gonna see many brands
Speaker 1: and companies around the world. Use blockchain technology, get creative,
Speaker 1: get people to be more involved with their brands, and
Speaker 1: give them more ownership. Right, That's what this technology opens up.
Speaker 1: So let me give you the details here. Ferraris entering
Speaker 1: the cryptocurrency world with plans to launch a digital token
Speaker 1: that will allow it's wealthiest fans to bid on one
Speaker 1: of its most iconic racing cars, the Ferrari four nine
Speaker 1: nine P, a Lemon's winning endurance model. The Italian carmaker
Speaker 1: will issue the token Ferrari four nine nine P in
Speaker 1: partnership with fintech firm Coinio, aimed exclusively at members of
Speaker 1: its hyper Club, a private network of one hundred elite
Speaker 1: clients with a passion for endurance racing. According to a
Speaker 1: Saturday report by Reuters, here's a quote. This is about
Speaker 1: strengthening the sense of belonging amongst our most loyal customers.
Speaker 1: Enrico Galliera, Ferrari's chief marketing and commercial officer, reportedly said
Speaker 1: holders of the token will be able to trade among
Speaker 1: themselves and participate in exclusive auctions, including one for the
Speaker 1: fourigy nine nine P. The initiative is set to debut
Speaker 1: alongside the twenty twenty seven World Endurance Championship season. So, folks,
Speaker 1: as I've been saying for years, we're headed to the
Speaker 1: token economy. Many brands and companies will have this, and
Speaker 1: I've often said the markets, the governments in the economies
Speaker 1: will all be running on blockchain rails. So really cool
Speaker 1: news here, and I've often talked about crypto is a
Speaker 1: global acid class, in fact, the first truly global acid class.
Speaker 1: Some people will say, what about gold, Tony, Well, gold
Speaker 1: you can't easily verify to supply. You don't have real
Speaker 1: time settlement, you don't have portability, you don't have the visibility,
Speaker 1: you know the benefits, right, So you have all of
Speaker 1: that with crypto, to touch of a button on your phone.
Speaker 1: You don't have that with gold, even though you know
Speaker 1: a lot of people around the world may say I
Speaker 1: hold gold. But again, all of that was not verifiable.
Speaker 1: It was incredibly segmented, right. But with crypto, man, you
Speaker 1: can plug into the blockchain and see everything that's happening, right,
Speaker 1: and what's moving which wallets again, the instance settlement, and
Speaker 1: much much more so. And this is because of the Internet.
Speaker 1: Right You're seeing all these networks are built on the Internet,
Speaker 1: and everybody's pretty much connected to the Internet. All you
Speaker 1: need is a smartphone. You don't even need a lab top.
Speaker 1: So countries across Africa approve new crypto laws as adoption grows.
Speaker 1: So yesterday, the Governor of the Bank of Ghana, the
Speaker 1: country's central bank, said the crypto regulations will be in
Speaker 1: place by the end of twenty twenty five. This follows
Speaker 1: draft guidelines the Bank published last year. By introducing a
Speaker 1: strong legal footing for crypto investadors and companies, Ghana will
Speaker 1: join nine other countries on the continent that have laws
Speaker 1: in place for digital assets. In general, crypto adoption is
Speaker 1: growing in Africa, particularly in Sub Saharan Africa. Grassroots adoption
Speaker 1: and retail activity make it the third fastest growing region
Speaker 1: for crypto. Lawmakers are taking notice. Here's a look at
Speaker 1: ten countries that have developed or are developing specific legal framework.
Speaker 1: So it includes Kenya, Tanzania, Sei, Chile's Mauritius, Botswana, South Africa, Namidia, Rwanda, Nigeria, Ghana.
Speaker 1: So guys, this is incredible. I mean, many folks in
Speaker 1: these countries they are recognizing that this is a store
Speaker 1: of value and they can do a lot of things.
Speaker 1: They can earn better and I think people are going
Speaker 1: to start waking up more and more to this, and
Speaker 1: there's going to be more adoption, and I think the
Speaker 1: governments are recognizing it. And look, I think we know
Speaker 1: all governments are going to embrace this. And I've said
Speaker 1: many times, any country that bans cryptos is writing their
Speaker 1: economic death sentence. So this is really really bullish, guys,
Speaker 1: really great to see. Final news item here Tether eyes
Speaker 1: fresh investments to push us AT stable coin to one
Speaker 1: hundred million Americans at December launch. So many of you
Speaker 1: know this is Tether's us A compliance stable coin called
Speaker 1: us AT and they're gonna launch it in December, and
Speaker 1: it looks like they're gonna raise capital to do so.
Speaker 1: I plan to have Bohinz who is heading up this,
Speaker 1: and you know, we'll talk all about all the details,
Speaker 1: but this is pretty cool. So mark your calendar is here.
Speaker 1: Teler's launching this come December, and let's see how they
Speaker 1: make the push. The US market is very competitive, to
Speaker 1: say the least. Right, you got USDT already in the market.
Speaker 1: Some people use that you got USDC, you got Paypals
Speaker 1: p Y USD, you got Ripples r L USD, and
Speaker 1: there's some others as well, but incredible. Let's see how
Speaker 1: it plays out. Competition is good for consumers and us
Speaker 1: as users, so let's see how it all plays out.
Speaker 1: But this is very interesting, folks. That's the news. Let
Speaker 1: me know what you think. Leave your thoughts and comments
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Speaker 1: news that are on Substack. It is one hundred percent free.
Speaker 1: I put out a write up yesterday, so check it out,
Speaker 1: and also check out my book on Amazon. It's available
Speaker 1: in paperback in digital, and my course at Mycrypto course
Speaker 1: dot com. This is a comprehensive course that teaches you
Speaker 1: everything about crypto, so check it out. Folks. Thank you
Speaker 1: for tuning in. I appreciate you all, and I'll talk
Speaker 1: to you all later.