WEBVTT

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<v Speaker 1>Global custody bank. Stage Street, with forty four trillion dollars

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<v Speaker 1>of asset under management, is expanding its crypto services, and

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<v Speaker 1>Tether has issued another billion USDT just last week they

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<v Speaker 1>did the same. So we can see these stable coins

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<v Speaker 1>enter the market pretty soon and we will see higher prices.

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<v Speaker 1>We're going to break this down and much more. Let's

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<v Speaker 1>get into it. Hey, everybody, welcome into the Thinking Crypto podcast.

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<v Speaker 1>I'm your host, Tony Edward. On your way in. Please

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<v Speaker 1>sit that subscribe button as well as a thumbs up

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<v Speaker 1>button and leave a comment below. If you're listening on

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<v Speaker 1>a podcast platform such as Spotify or Apple, please leave

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<v Speaker 1>a five star rating and review. Well, folks, the big

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<v Speaker 1>news of the day is that State Street has selected

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<v Speaker 1>Taurus for crypto custody and tokenization. Now this is not

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<v Speaker 1>the first go round for State Street with crypto, if

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<v Speaker 1>you recall back in June, they announced that partnership with

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<v Speaker 1>Galaxy Digital that's Mike Novogratz to develop crypto trading products.

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<v Speaker 1>So we're seeing all of Wall Street guys jumping into

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<v Speaker 1>the crypto asset class. They are building new technology, they're

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<v Speaker 1>adding crypto to their portfolio of financial products and they're

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<v Speaker 1>expanding globally with these services, so it's very bullish, right.

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<v Speaker 1>These folks know the deal, they know what's coming, that

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<v Speaker 1>crypto's here to stay. The world is going to run

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<v Speaker 1>on blockchain, so they're trying to position themselves to get

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<v Speaker 1>as much market share as possible. So here are the details.

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<v Speaker 1>State Street, the global custody bank with forty four point

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<v Speaker 1>three trillion dollars in assets under its watch, chose cryptocurrency

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<v Speaker 1>custody and tokenization specialists tourists to provide digital assets services

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<v Speaker 1>in anticipation of a more congenial regulatory climate in the US.

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<v Speaker 1>The bank's initial focus is to go live with tokenized

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<v Speaker 1>versions of traditional assets, with the first client named shortly afterward.

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<v Speaker 1>Stage Street said a natural role for a custody specialist

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<v Speaker 1>like State Street would be to look after digital assets.

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<v Speaker 1>Banks in the US have been forced with a major

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<v Speaker 1>hurdle in the form of the SEC's Staff Accounting Bulletin

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<v Speaker 1>one two one, also known as SAB one two one,

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<v Speaker 1>which imposes restrictions on companies that want to hold their

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<v Speaker 1>customer's crypto assets. So this is the BS rule that

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<v Speaker 1>was repealed in the House and the Senate, but unfortunately

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<v Speaker 1>Joe Biden veto the ultimate repeal. But it's a BS

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<v Speaker 1>rule from the SEC that they're trying to block many

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<v Speaker 1>of these banks some custody and crypto because it all

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<v Speaker 1>goes back to Elizabeth Warren and nonsense that she's been doing.

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<v Speaker 1>So these banks are finding other avenues of being able

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<v Speaker 1>to custody crypto while the regulations are being worked out

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<v Speaker 1>now a couple of things. They're launching et apps, they're tokenizing,

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<v Speaker 1>they're doing all types of different things with blockchain and crypto, folks,

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<v Speaker 1>And I hope you see what's happening. This is taking

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<v Speaker 1>place while many investors in the market right now are bored,

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<v Speaker 1>are angry, are frustrated, right They're feeling tired of the

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<v Speaker 1>price not doing anything, moving sideways, a lot of volatility.

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<v Speaker 1>But this is why on this podcast we've preached being

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<v Speaker 1>patient and having the macro view on this market. Guys,

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<v Speaker 1>there's a ton more capital waiting to come into this market,

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<v Speaker 1>but we need the proper regulations and we need both

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<v Speaker 1>Democrats and Republicans to work together. And this is why

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<v Speaker 1>I've been pushing the narrative that look, I'm not telling

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<v Speaker 1>you to vote for Kamala Harris I'm not telling you

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<v Speaker 1>to vote for Donald Trump. But the one issue we

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<v Speaker 1>need both sides of the aisle to come together on

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<v Speaker 1>is crypto so that we can get the full legislation

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<v Speaker 1>and regulations and we can allow more capital to come in. Now,

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<v Speaker 1>ultimately crypto is going to win. The point is I

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<v Speaker 1>wanted to happen sooner than later so my bags can

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<v Speaker 1>go up. I've been very open and transparent. I'm here

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<v Speaker 1>to make money. I do believe in the technology. I

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<v Speaker 1>do believe in the application of it and the benefits

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<v Speaker 1>and the improvements is going to bring to the world.

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<v Speaker 1>But first and foremost, I'm trying to get financial freedom,

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<v Speaker 1>and secondarily I will want to see the adoption of

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<v Speaker 1>the technology. So let me continue here. State Street has

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<v Speaker 1>been very vocal about the need to change SAWM one

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<v Speaker 1>two one, which could force banks seeking to hold crypto

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<v Speaker 1>to maintain an owner's amount of capital to compensate for

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<v Speaker 1>the risk, said Dona Millrod, state Street's chief product Officer

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<v Speaker 1>and head of Digital Asset Solutions. All of these banks

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<v Speaker 1>and Wall Street firms now have a head of Digital

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<v Speaker 1>assets right what it's Goldman SAgs On Morgan Stanley. They

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<v Speaker 1>all have a person leading on crypto. They have a division,

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<v Speaker 1>a team. It's pretty amazing. This was not here when

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<v Speaker 1>I got into crypto, which was in late twenty sixteen.

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<v Speaker 1>So here's the quote from Milrod. While we're starting with tokenization,

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<v Speaker 1>that's not where we're ending. As soon as the US

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<v Speaker 1>regulations help us out, we will be providing digital custody

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<v Speaker 1>services as well. We know how to be a custodian.

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<v Speaker 1>We don't do that on our balance we do that

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<v Speaker 1>off balance sheet. They're not our assets. Lamin Brahamini, co

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<v Speaker 1>founder and managing partner of Switzerland based Taurus, pointed to

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<v Speaker 1>the benefits of tokenizations such as twenty four to seven

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<v Speaker 1>trading and the ability to optimize collateral management, while echoing

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<v Speaker 1>the need for a better regulatory climate in the US.

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<v Speaker 1>Notice what was mentioned here twenty four to seven trading?

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<v Speaker 1>What have I been saying for years? What did I

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<v Speaker 1>write in my book twenty four to seven Trading Global Markets?

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<v Speaker 1>Three hundred and sixty five days per year, no borders, guys.

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<v Speaker 1>And the reason why tokenization is so significant is that

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<v Speaker 1>they're going to put stocks and commodities and all the

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<v Speaker 1>securities of tradfi onto the blockchain and tokenize it. And

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<v Speaker 1>you will be able to fractionalize things like I said

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<v Speaker 1>twenty four to seven trading, instant settlement, and it's going

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<v Speaker 1>to make markets more efficient. There's going to be more liquidity,

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<v Speaker 1>it's going to open up secondary and tertiary markets. This

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<v Speaker 1>is why I'm bullish, folks. World will be running on blockchain.

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<v Speaker 1>It's the token economy that once again I wrote about

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<v Speaker 1>my book. I've been telling you guys for years these

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<v Speaker 1>things are happening. It's not making the major headlines on

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<v Speaker 1>CNN or Fox Business, but these Wall Street banks and

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<v Speaker 1>the biggest financial institutions in the world are building, and

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<v Speaker 1>clearly we see the trajectory that they're on here. So

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<v Speaker 1>here's a quote from Brahamini. I'm quite sure this partnership

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<v Speaker 1>with State Street will be a positive signal for the

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<v Speaker 1>US financial markets in general, which because of SAVO one

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<v Speaker 1>two one have been lagging those in Europe. So huge,

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<v Speaker 1>huge news, guys. I'm so bullish and I'm excited for

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<v Speaker 1>this bullmarket. But also, like I've been saying, for the

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<v Speaker 1>future bullmarkets, twenty twenty eight the next bitcoin having and

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<v Speaker 1>that bullmarket run into twenty twenty nine to twenty thirty.

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<v Speaker 1>So I've told you guys my plan cash hop profits

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<v Speaker 1>in this respective bullmarket. We haven't hit the top yet.

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<v Speaker 1>Take some of that profits, spend some of it of

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<v Speaker 1>course for lifestyle chips right, pay off some debt, and

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<v Speaker 1>reinvest some of it, some of it in crypto, some

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<v Speaker 1>of it in the Nasdaq and traditional assets and possibly

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<v Speaker 1>real estate. So I'm looking to squeeze as much juice

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<v Speaker 1>out of this orange as possible, grow my net worth,

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<v Speaker 1>and build up my retirement nest egg. So those are

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<v Speaker 1>my plans, folks. I don't know what your plans are,

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<v Speaker 1>but I'm not trying to go buy a lamb ball.

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<v Speaker 1>I'm trying to get financial freedom, eliminate debt, and once

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<v Speaker 1>again have that nest egg for retirement. So this is

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<v Speaker 1>huge news, and like I said, it's not the first

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<v Speaker 1>go round for State Street. They're working with Galaxy Digital

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<v Speaker 1>building out crypto trading products. Now, in context of that,

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<v Speaker 1>it's important for me to rehash this news from just

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<v Speaker 1>August fifteenth, or last week that we saw through SEC filings,

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<v Speaker 1>the thirteen aps that Goldman, Sachs and Morgan Stanley are

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<v Speaker 1>holding billions of dollars worth of bigcoin et apps. They

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<v Speaker 1>are invested in the black Rock, bigcoin ETFs, Fidelity and

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<v Speaker 1>so forth. So again we're seeing actual facts here of

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<v Speaker 1>these Wall Street institutions and the biggest financial institutions in

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<v Speaker 1>the world embracing crypto, launching products, building with it, and

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<v Speaker 1>much more. Now here's some data about the bitcoin ETF

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<v Speaker 1>exposure for the top twenty five hedge funds. So sixty

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<v Speaker 1>percent of the largest hedge funds have disclosed bitcoin ETF holdings.

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<v Speaker 1>See the direction we're going in here, folks, and wait

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<v Speaker 1>till we have more all coin ETFs, you're going to

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<v Speaker 1>see capital coming into a variety of them, ethereum eventually Solana,

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<v Speaker 1>XRP and so on and so forth. Now there's some

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<v Speaker 1>news today that I'm going to highlight that the SEC

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<v Speaker 1>is trying to roadblock the Salon ETF. But once again,

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<v Speaker 1>these roadblocks can be put up, but we know it's

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<v Speaker 1>not a matter of if, it's a matter of when,

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<v Speaker 1>And you know it could happen next year. You know,

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<v Speaker 1>let's say Gary Ganser is out and there's new thisscrypto

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<v Speaker 1>regulations that have been passed. You know that could change

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<v Speaker 1>very easily. But nevertheless, today, black Rock, Spot Bitcoin ETF, I,

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<v Speaker 1>bit did seven hundred and twenty eight million dollars in

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<v Speaker 1>trading volume today, So we're seeing a lot of buying

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<v Speaker 1>up and there's demand for them from the institutional investors

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<v Speaker 1>in all of Wall Street. They want this acid class.

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<v Speaker 1>And you know, I go back to what Paul Tudor

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<v Speaker 1>Jones said in twenty twenty, and it really clicked for me.

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<v Speaker 1>He said, bitcoin and crypto is the fastest horse in

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<v Speaker 1>the race. In an environment where they're printing trillions of dollars,

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<v Speaker 1>I could go investment in real estate, i could put

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<v Speaker 1>it in the stock market, but I'm going to put

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<v Speaker 1>it into bitcoin and crypto because it has the faster

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<v Speaker 1>appreciation and value. And we've seen Bitcoin has been the

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<v Speaker 1>best performing acid over the past ten to eleven years.

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<v Speaker 1>Not to mention all coins, right, Bitcoin is usually the

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<v Speaker 1>measuring stick that they use to compare to other assets

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<v Speaker 1>because it's the most mature in the crypto acid class.

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<v Speaker 1>But many all coins have outperformed Bitcoin. That that is

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<v Speaker 1>a fact. But you know, for the mass, you can't

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<v Speaker 1>go throw one hundred all coins to them and say hey,

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<v Speaker 1>here's avax or here's Salona. They're like, what the hell

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<v Speaker 1>are you talking about? But they know about bitcoin because

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<v Speaker 1>that has the branding, So you have to understand the

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<v Speaker 1>narratives and the nuances of presenting this to people. But guys,

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<v Speaker 1>this is why I'm bullsh and crypto. This is why

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<v Speaker 1>a majority of my investment capital is in crypto versus

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<v Speaker 1>you know, the NASLAC and traditional assets. We also got

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<v Speaker 1>news that Tether has minted another billion USDT last week.

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<v Speaker 1>I highlighted this, I tweeted about it and so forth

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<v Speaker 1>while I was in Punta Kana. Looks like whales are

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<v Speaker 1>starting to grab up stable coins and this is a

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<v Speaker 1>big indication of liquidity that is going to be put

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<v Speaker 1>into the market now that you know, they're going to

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<v Speaker 1>buy the dips and we're going to eventually see all

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<v Speaker 1>these things reflected as the market starts to pump. And

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<v Speaker 1>it's not only Tether. We saw USDC. Millions in us

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<v Speaker 1>DC issued by Circle have been issued over the past

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<v Speaker 1>three weeks. So these are the different data points and

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<v Speaker 1>metrics I use to get an idea what's happening in

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<v Speaker 1>the market, not my feelings, not my emotions. And I

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<v Speaker 1>say that for the new people who are listening my

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<v Speaker 1>og listeners. You know the deal. We don't move by emotions. Here,

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<v Speaker 1>we don't invest by emotions. We look at the charts,

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<v Speaker 1>look at the fundamentals, the macro factual information such as

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<v Speaker 1>stable coin volume, stable coin supply, the number of bitcoin

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<v Speaker 1>and exchanges, all these different metrics. Right, but very bullish

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<v Speaker 1>signed here, folks. We continue to see stable coins being minted. Now.

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<v Speaker 1>Quick word from our sponsor, and that is vchainvchain is

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<v Speaker 1>one of the top enterprise blockchains out there. Guys. Many

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<v Speaker 1>different companies and brands are using v chain to build

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<v Speaker 1>Web three and decentralized applications and different ecosystems. I'm bullish

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<v Speaker 1>on this project. I have been for years. I've been

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<v Speaker 1>a vet token holder going back to twenty eighteen twenty nineteen.

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<v Speaker 1>You know, they're doing a lot of great things. And

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<v Speaker 1>some of the companies that are working with v chain

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<v Speaker 1>include Jivon, Chi, BMW, Walmart China, PwC. One of the

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<v Speaker 1>top accounting firms in the world is sam Sam's Club

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<v Speaker 1>excuse me. And some of the benefits of the v

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<v Speaker 1>chain blockchain include it is secure, affordable, scalable, fast, and sustainable.

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<v Speaker 1>If you'd like to learn more about v chain, go

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<v Speaker 1>to v chain dot org. Link will be in a description. Now,

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<v Speaker 1>earlier I mentioned the Solana ETF situation, so we got

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<v Speaker 1>the headline here the SEC rejected the CBOES nineteen bdsh

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<v Speaker 1>war filings for Solana ETFs. So look, Yary Ganser up

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<v Speaker 1>to his nonsense. But we know that, you know, the

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<v Speaker 1>typical process has been, you got to have a futures

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<v Speaker 1>market and then you get the spot. But you know,

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<v Speaker 1>I see this more as a delay tactic. You know,

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<v Speaker 1>this could happen next year once again, if there's a

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<v Speaker 1>regime change, and I think Gary Ginser is out, whether

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<v Speaker 1>Kamala Harris or Donald Trump wins, I think Gary is

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<v Speaker 1>going to be out for sure. And we know Congress

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<v Speaker 1>is working in regulations, so this could all change by

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<v Speaker 1>next Here, this is not really surprising, especially that Solana

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<v Speaker 1>was named in some of the recent lawsuits against crypto

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<v Speaker 1>exchanges like Coinbase and so forth. Now, in the Binance case,

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<v Speaker 1>we know Solana and a bunch of other tokens were removed,

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<v Speaker 1>but we don't have concrete evidence that the SEC has

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<v Speaker 1>officially dropped Solana out of its radar of targeting as

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<v Speaker 1>a security. But look, we're dealing with scumbag regulator Gary Genser.

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<v Speaker 1>So until then we got to keep fighting folks. Now,

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<v Speaker 1>something interesting happened with Binance. Bill Hughes, who have had

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<v Speaker 1>on the podcast he's a lawyer, Consensus said Binance and

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<v Speaker 1>CZ were sued last Friday by class plaintiffs in Seattle

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<v Speaker 1>Federal Court and interesting class action brought by top class

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<v Speaker 1>action lawyers alleging consumer harm as a result of Binance's

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<v Speaker 1>money laundering and the natural predictable follow on civil action

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<v Speaker 1>that seeks to capitalize or depending on how you characterize

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<v Speaker 1>these things, recover on the government prosecutions and enforcement actions

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<v Speaker 1>from earlier this year. He says. The TLDR here is

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<v Speaker 1>these plaintiffs and the class of US consumers they represent

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<v Speaker 1>had their cryptos stolen in hacks and other thefts, and

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<v Speaker 1>those funds were sent to Binance for laundering, which Binance

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<v Speaker 1>was aware of and to some extent encourage as its

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<v Speaker 1>lucrative business model. Plaintiffs say this injured them as Binance

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<v Speaker 1>was an essential part of the laundering and constitutes illegal

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<v Speaker 1>racketeering that violates the Rico Statute. Look, we'll see what

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<v Speaker 1>happens here, but you know everybody's going to try to

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<v Speaker 1>come for their pound or flesh from Binance. The amount

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<v Speaker 1>of money they paid I think over four billion dollars

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<v Speaker 1>in penalties. And it's just because they weren't doing proper

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<v Speaker 1>kycaml They weren't doing any major fraud or anything like that.

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<v Speaker 1>It wasn't like FTX, you know what Sam Bechmerfried was doing,

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<v Speaker 1>stealing customer funds and trading with them and all that jazz. Right,

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<v Speaker 1>But we'll see, we'll see where this goes. But just

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<v Speaker 1>want to let you guys know about it. Paradigm leads

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<v Speaker 1>seven point five million dollars seed round of Currella Labs

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<v Speaker 1>that aims to solve Ethereum's MeV problem. So this is interesting.

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<v Speaker 1>The startup is building tools to solve Ethereum's MeV problem.

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<v Speaker 1>At the Application Layer, co founder and CEO Ludwick thuven

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<v Speaker 1>And told the block if I said his name right there,

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<v Speaker 1>so you may be saying, what the hell is MeV,

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<v Speaker 1>It's the maximum extractable value. So MeV refers to the

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<v Speaker 1>profit validators or bots that can extract by re ordering, inserting,

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<v Speaker 1>or sensoring transactions within the block. Common MeV strategies include

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<v Speaker 1>front running, executing trades before others, sangwich attacks, trading before

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<v Speaker 1>and after large transactions and arbitrage profiting from price differences

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<v Speaker 1>across platforms. These practices can result in higher costs for

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<v Speaker 1>DeFi users and can give an unfair advantage to those

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<v Speaker 1>with more resources. So, guys, it's great to see that

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<v Speaker 1>these things are being worked on and solutions are being

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<v Speaker 1>brought to the table, and also that there is capital

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<v Speaker 1>being given to companies to solve these problems. That's very

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<v Speaker 1>healthy in an growing emerging asset class. Now VC's back

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<v Speaker 1>AI focused blockchain team building internet connected smart contracts. So

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<v Speaker 1>yeager ai, the development team behind the decentralized AI network

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<v Speaker 1>gen Layer, raised a seven point five million dollar seed

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<v Speaker 1>round led by North Island Ventures. Gen Layer uses non

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<v Speaker 1>deterministic smart contracts and a bespoke delegated proof of steak

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<v Speaker 1>algorithm to enable new types of applications that interact with

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<v Speaker 1>real time information. Guys, it's so hard to keep up

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<v Speaker 1>with all the new projects and all the things that

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<v Speaker 1>are being built. It feels very much like the dot

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<v Speaker 1>com boom, where there's a lot of different projects, but

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<v Speaker 1>not all of them are going to be a winner,

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<v Speaker 1>so we have to watch it closely, but clearly, you know,

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<v Speaker 1>with the AI blockchain fusion, so to speak. We are

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<v Speaker 1>seeing a lot of new projects popping up, new solutions,

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<v Speaker 1>and I'm excited, but also you've got to be careful,

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<v Speaker 1>right just watch what's going on. How you want to

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<v Speaker 1>enter some of these projects, whether they have a token.

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<v Speaker 1>Is it a short term hold where you run, you know,

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<v Speaker 1>runs up with the liquidity that comes from the vcs

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<v Speaker 1>and the bull market liquidity, or is it a long

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<v Speaker 1>term hold because it is legitly solving a massive real

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<v Speaker 1>world use case that you may want to hold for

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<v Speaker 1>multiple cycles. So you want to strategize accordingly and obviously

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<v Speaker 1>look at the pros and cons up some of these projects. Well, folks,

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<v Speaker 1>that's the news. I would love to hear what you

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<v Speaker 1>guys think about the State Street news. I think it's

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<v Speaker 1>pretty significant. That's that's a huge bank, guys, And it's

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<v Speaker 1>like we've always been talking about gain theory. Black Rock

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<v Speaker 1>made the first move. Now all of Wall Street, it's

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<v Speaker 1>following Goldman, Sachs, Morgan, Stanley, State Street, you, Fidelity, They're

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<v Speaker 1>all coming in line. Blackrock was the first domino and

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<v Speaker 1>the out dominoes are falling now. So I'm excited. I'm bullish.

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<v Speaker 1>I know the price doesn't reflect that right now. It's

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<v Speaker 1>boring zone, but be patient and have the macro outlook, folks.

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<v Speaker 1>Liquidity is coming back. It's on the rise globally. Stable

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<v Speaker 1>coin volume is increasing or supply is increasing, and we're

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<v Speaker 1>going to go through the seasonality of the market cycle.

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<v Speaker 1>So come I think after mid September into Q four,

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<v Speaker 1>we're going to start to see the markets move significantly,

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<v Speaker 1>So be patient. Guys, don't forget to sign up for

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

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<v Speaker 1>Link will being a description. Also, you can support me

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<v Speaker 1>by grabbing a copy of my book, Rethinking Crypto on

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<v Speaker 1>Amazon or Barnes Andnobles dot com. It's available in paperback

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<v Speaker 1>and digital. If you bought a copy already, please leave

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<v Speaker 1>a five star rating and review. It really helps out

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<v Speaker 1>my rankings and I appreciate you all. Thank you for watching, listening,

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<v Speaker 1>and I'll talk to you all later