WEBVTT

1
00:00:00.080 --> 00:00:04.559
<v Speaker 1>Grayscale relaunches their XRP trust. This increases the odds of

2
00:00:04.599 --> 00:00:08.039
<v Speaker 1>an XRP spot ETF being approved in the United States.

3
00:00:08.080 --> 00:00:11.800
<v Speaker 1>This is very big and Gary Genser is getting investigated

4
00:00:11.839 --> 00:00:15.240
<v Speaker 1>by top Republicans as a hearing is coming up and

5
00:00:15.560 --> 00:00:23.879
<v Speaker 1>he's going to be in big trouble. Let's break it down. Hey, everybody,

6
00:00:23.920 --> 00:00:27.519
<v Speaker 1>welcome into the Thinking Crypto Podcasts. You're home for cryptocurrency

7
00:00:27.600 --> 00:00:30.519
<v Speaker 1>news and interviews. I'm your host, Tony Edward. On your

8
00:00:30.559 --> 00:00:33.039
<v Speaker 1>way in. Please hit that subscribe button as well as

9
00:00:33.039 --> 00:00:35.320
<v Speaker 1>a thumbs up button and leave a comment below. If

10
00:00:35.359 --> 00:00:38.200
<v Speaker 1>you're listening on a podcast platform such as Spotify or Apple,

11
00:00:38.399 --> 00:00:41.039
<v Speaker 1>please leave a five star rating and review. Folks, the

12
00:00:41.079 --> 00:00:46.240
<v Speaker 1>breaking news Grayscale has officially relaunched their XRP trust. If

13
00:00:46.280 --> 00:00:48.359
<v Speaker 1>you recall, they had this in place, but when the

14
00:00:48.399 --> 00:00:51.240
<v Speaker 1>SEC sued Ripple they had to dissolve it. And we

15
00:00:51.320 --> 00:00:55.399
<v Speaker 1>know many exchanges delisted XRP. But since Ripple won the

16
00:00:55.560 --> 00:01:00.640
<v Speaker 1>lion's share of the lawsuit and XRP was declared intrinsically

17
00:01:00.679 --> 00:01:04.200
<v Speaker 1>not a security, many exchanges started relisting. And this is

18
00:01:04.239 --> 00:01:07.439
<v Speaker 1>a very big move here from Grayscale, showing that there

19
00:01:07.519 --> 00:01:10.280
<v Speaker 1>is demand for this asset, and if there wasn't, they

20
00:01:10.319 --> 00:01:14.079
<v Speaker 1>wouldn't be launching it, right, folks. So you have institutional

21
00:01:14.200 --> 00:01:17.719
<v Speaker 1>on ramps being built here, and as always, game theory

22
00:01:17.719 --> 00:01:20.560
<v Speaker 1>will play out. You're going to see their competitors launch

23
00:01:21.120 --> 00:01:24.040
<v Speaker 1>these type of funds around XRP as well. If you

24
00:01:24.120 --> 00:01:26.840
<v Speaker 1>caught my interview with Matt Hogan a bit wise earlier

25
00:01:26.879 --> 00:01:31.560
<v Speaker 1>this morning, he hinted towards XRP, Cardano and so forth

26
00:01:31.599 --> 00:01:35.200
<v Speaker 1>that they're working on building ETFs and so forth around

27
00:01:35.239 --> 00:01:40.200
<v Speaker 1>these things. So institutional investors are building products around XRP. Now,

28
00:01:40.239 --> 00:01:42.680
<v Speaker 1>I know some people are gonna hate XRP, They're gonna

29
00:01:42.680 --> 00:01:45.599
<v Speaker 1>hate Ripple, but I'm not here to invest with my emotions.

30
00:01:45.680 --> 00:01:48.480
<v Speaker 1>I'm here to invest with facts and the reality of

31
00:01:48.519 --> 00:01:52.760
<v Speaker 1>the situation. I'm diversified. I hold Bitcoin, Etherorem Salana, XRP,

32
00:01:52.920 --> 00:01:56.319
<v Speaker 1>Cardano and so forth. So I'm just looking to make money.

33
00:01:56.400 --> 00:01:59.840
<v Speaker 1>I don't have a religious agenda here. I don't have

34
00:02:00.120 --> 00:02:02.840
<v Speaker 1>a sort of narrative agenda. I believe in crypto and

35
00:02:02.879 --> 00:02:05.280
<v Speaker 1>I'm here to make money. So very big move and

36
00:02:05.359 --> 00:02:07.680
<v Speaker 1>that is why you're seeing these big companies do this.

37
00:02:07.799 --> 00:02:09.800
<v Speaker 1>And you know, Ripple has a lot going on for

38
00:02:09.879 --> 00:02:12.080
<v Speaker 1>them right now, they're going to be launching their stable coin,

39
00:02:12.400 --> 00:02:16.639
<v Speaker 1>they've enabled Ethereum smart contracts, or they will be on

40
00:02:16.680 --> 00:02:19.240
<v Speaker 1>the platform on the XRP ledger. I should say, so

41
00:02:19.319 --> 00:02:22.280
<v Speaker 1>all of these things are very good for the adoption

42
00:02:22.400 --> 00:02:25.560
<v Speaker 1>and price of the XRP assets. Now, they said this

43
00:02:25.680 --> 00:02:29.120
<v Speaker 1>is only available to accredited investors. They said gray scales.

44
00:02:29.280 --> 00:02:32.800
<v Speaker 1>XRP trust allows investors to gain exposure to XRP, the

45
00:02:32.879 --> 00:02:36.439
<v Speaker 1>token powering the XRP ledger, a distributed peer to peer

46
00:02:36.479 --> 00:02:40.400
<v Speaker 1>network created to help cross border financial institutions. Now, folks,

47
00:02:40.800 --> 00:02:44.479
<v Speaker 1>with this domino in place, it means the chances of

48
00:02:44.520 --> 00:02:48.039
<v Speaker 1>a potential XRP ETF being approved in the United States

49
00:02:48.199 --> 00:02:51.400
<v Speaker 1>has become more probable. The chances have increased, so get

50
00:02:51.439 --> 00:02:54.199
<v Speaker 1>ready right, And obviously we need some clarity in the

51
00:02:54.240 --> 00:02:57.280
<v Speaker 1>market because Solana is also in the same bucket here

52
00:02:57.520 --> 00:03:00.919
<v Speaker 1>where we need clarity from cong risks and we need

53
00:03:01.039 --> 00:03:04.080
<v Speaker 1>legislation because Gary Genser, we know he's up to no

54
00:03:04.159 --> 00:03:06.080
<v Speaker 1>good and we're gonna talk a bit about him later,

55
00:03:06.800 --> 00:03:09.960
<v Speaker 1>but we need more clarity here. But this once again

56
00:03:10.520 --> 00:03:14.560
<v Speaker 1>increases the chances, So very big news around XRP. Now,

57
00:03:14.599 --> 00:03:17.080
<v Speaker 1>you may say Tony, But look at the price, dude,

58
00:03:17.280 --> 00:03:19.520
<v Speaker 1>the price is down. What are you so excited about.

59
00:03:20.400 --> 00:03:23.319
<v Speaker 1>I look at market cycles. I don't care what's happening

60
00:03:23.400 --> 00:03:25.919
<v Speaker 1>right now because I'm looking at the macro I've been

61
00:03:25.919 --> 00:03:28.599
<v Speaker 1>sharing with you guys. Everybody's waiting for the FED raid cuts.

62
00:03:28.879 --> 00:03:31.400
<v Speaker 1>That's going to be very bullish in the markets. Yes,

63
00:03:31.439 --> 00:03:35.439
<v Speaker 1>there's gonna be volatility. September as a whold is a wash.

64
00:03:35.599 --> 00:03:38.199
<v Speaker 1>It's a bloody month. So I'm not looking for anything

65
00:03:38.240 --> 00:03:40.719
<v Speaker 1>this month. Now, come Q four, we're going to start

66
00:03:40.759 --> 00:03:44.199
<v Speaker 1>to see Bitcoin climb out of this consolidation phase and

67
00:03:44.240 --> 00:03:46.960
<v Speaker 1>then alts will follow. So you have to understand the

68
00:03:47.000 --> 00:03:49.520
<v Speaker 1>market cycles. This is why on this podcast, I give

69
00:03:49.520 --> 00:03:51.479
<v Speaker 1>you the full picture. I give you a holistic view,

70
00:03:51.719 --> 00:03:54.599
<v Speaker 1>not just the technical analysis. I give you the adoption news,

71
00:03:54.639 --> 00:03:57.919
<v Speaker 1>the fundamentals, the macro. All of these things help to

72
00:03:57.960 --> 00:04:00.240
<v Speaker 1>paint the picture where we're at and where we're at it.

73
00:04:00.560 --> 00:04:03.439
<v Speaker 1>So here three sixty Trader Dan from the three sixty Trader.

74
00:04:03.439 --> 00:04:05.400
<v Speaker 1>I just had him on the podcast. He gave his

75
00:04:05.520 --> 00:04:08.120
<v Speaker 1>XRP price prediction, so be sure to check out that interview.

76
00:04:08.360 --> 00:04:11.680
<v Speaker 1>He said, XRP on the weekly looking macro bullish, here

77
00:04:11.759 --> 00:04:15.400
<v Speaker 1>inside the ascending triangle has the local double bottom here

78
00:04:15.479 --> 00:04:19.839
<v Speaker 1>into the apex price is pinching. This should challenge the

79
00:04:19.879 --> 00:04:24.759
<v Speaker 1>pattern highs soon into the seventy cents area. Crypto Michael,

80
00:04:24.759 --> 00:04:27.560
<v Speaker 1>who's an analyst that has been talking about xrps chart

81
00:04:27.639 --> 00:04:30.959
<v Speaker 1>for a very long time. He says XRP slash Bitcoin

82
00:04:31.079 --> 00:04:34.399
<v Speaker 1>looks ready for a huge squeeze. So this is a

83
00:04:34.519 --> 00:04:38.040
<v Speaker 1>very important chart because many folks, they will look at

84
00:04:38.639 --> 00:04:42.759
<v Speaker 1>an all coin versus Bitcoin denominated in bitcoin, and you'll

85
00:04:42.759 --> 00:04:46.360
<v Speaker 1>see many all coins have bleeded against Bitcoin over time.

86
00:04:46.839 --> 00:04:50.480
<v Speaker 1>But eventually all coins line up very nicely and they

87
00:04:50.680 --> 00:04:54.040
<v Speaker 1>set up for a move. Solana was a first mover

88
00:04:54.240 --> 00:04:56.199
<v Speaker 1>in this type of setup. It was showing a lot

89
00:04:56.199 --> 00:04:59.000
<v Speaker 1>of strength on its chart versus Bitcoin, and I think

90
00:04:59.040 --> 00:05:01.839
<v Speaker 1>etherorem will event we get there. So it's a matter

91
00:05:01.879 --> 00:05:04.879
<v Speaker 1>of time. Be patient, guys. I've told you many times.

92
00:05:05.040 --> 00:05:08.680
<v Speaker 1>The liquidity enters through bitcoin. Bitcoin does is it's run

93
00:05:08.759 --> 00:05:10.839
<v Speaker 1>up and then the liquidity flows to the all coins.

94
00:05:11.040 --> 00:05:14.360
<v Speaker 1>Now within the all coin category, there are different tiers.

95
00:05:14.560 --> 00:05:17.759
<v Speaker 1>We saw mean coins did really well in twenty twenty

96
00:05:17.759 --> 00:05:21.160
<v Speaker 1>three into early twenty twenty four, AI coins as well well,

97
00:05:21.199 --> 00:05:24.319
<v Speaker 1>the blue chip coins like XRP, Cardano and so forth.

98
00:05:24.480 --> 00:05:26.920
<v Speaker 1>They're going to have their turn. So I hope you

99
00:05:27.000 --> 00:05:29.639
<v Speaker 1>understand what I'm saying here. This is not my feelings,

100
00:05:29.639 --> 00:05:32.040
<v Speaker 1>this is not my emotions. This is what we've seen

101
00:05:32.439 --> 00:05:35.040
<v Speaker 1>the market do, what the charts are telling us, what

102
00:05:35.120 --> 00:05:37.480
<v Speaker 1>the technicals are telling us. And I hope you're looking

103
00:05:37.480 --> 00:05:39.560
<v Speaker 1>at data. I hope you're not listening to people telling

104
00:05:39.560 --> 00:05:42.839
<v Speaker 1>you about conspiracy theories and their feelings and emotions, because

105
00:05:42.879 --> 00:05:45.959
<v Speaker 1>that's all garbage. Let's look at data, guys, right, and

106
00:05:46.360 --> 00:05:49.519
<v Speaker 1>charts are showing us a really good story here. And

107
00:05:49.600 --> 00:05:54.360
<v Speaker 1>the adoption news Radescale relaunching their XRP trust is very bullish. Now,

108
00:05:54.439 --> 00:05:56.399
<v Speaker 1>quick word from our sponsor, and that is v Chain,

109
00:05:56.439 --> 00:05:59.399
<v Speaker 1>which is one of the top enterprise layer one blockchains

110
00:05:59.399 --> 00:06:02.120
<v Speaker 1>out there. I've been a VET token holder for years.

111
00:06:02.199 --> 00:06:04.480
<v Speaker 1>I'm a believer in this project. I'm bullish on it.

112
00:06:04.839 --> 00:06:07.399
<v Speaker 1>And many companies are using the v chain blockchain to

113
00:06:07.399 --> 00:06:11.800
<v Speaker 1>build Web three technologies and decentralized application ecosystems. And they

114
00:06:11.800 --> 00:06:15.040
<v Speaker 1>are working with many big players folks such as PwC,

115
00:06:15.160 --> 00:06:19.199
<v Speaker 1>which is a top four accounting firm. They're working with BMW, Walmart, China,

116
00:06:19.519 --> 00:06:22.920
<v Speaker 1>Boston Consulting Group. In fact, there's some very big news here.

117
00:06:23.399 --> 00:06:26.079
<v Speaker 1>They're going to be doing a hackathon with the Boston

118
00:06:26.120 --> 00:06:29.639
<v Speaker 1>Consulting Group, so that's a big player. Folks, go research

119
00:06:29.639 --> 00:06:32.720
<v Speaker 1>who the Boston Consulting Group is. So vchain is doing

120
00:06:32.759 --> 00:06:34.920
<v Speaker 1>some great things. And like I said, I'm a VET

121
00:06:34.920 --> 00:06:37.399
<v Speaker 1>token holder, so I'm putting my money where my mouth is.

122
00:06:37.439 --> 00:06:39.839
<v Speaker 1>I believe in this project. Some of the key features

123
00:06:39.879 --> 00:06:43.680
<v Speaker 1>of the v chain blockchain includes it's secure, affordable, scalable, fast,

124
00:06:43.680 --> 00:06:46.560
<v Speaker 1>and sustainable. If you'd like to learn more about vchain,

125
00:06:46.600 --> 00:06:50.720
<v Speaker 1>go to vchain dot org arifolks, the big news continues.

126
00:06:51.240 --> 00:06:55.600
<v Speaker 1>SEC Chair Gary Ginster is under investigation by Republican lawmakers

127
00:06:55.680 --> 00:06:59.480
<v Speaker 1>Jim Jordan, Patrick McHenry and James Comer for engaging in

128
00:06:59.560 --> 00:07:03.879
<v Speaker 1>suspected political favoritism in his hiring practices. You know, a

129
00:07:03.920 --> 00:07:07.959
<v Speaker 1>lot of people don't want to hear the political divide

130
00:07:07.959 --> 00:07:10.959
<v Speaker 1>with these agencies, especially a lot of former SEC folks.

131
00:07:10.959 --> 00:07:13.240
<v Speaker 1>They tried to sweep it under the rug. But the

132
00:07:13.279 --> 00:07:16.560
<v Speaker 1>SEC is divided politically. We see hester person Markey way

133
00:07:16.600 --> 00:07:20.120
<v Speaker 1>to believe a certain way about crypto in the industry,

134
00:07:20.399 --> 00:07:23.079
<v Speaker 1>while the Democrats, Gary Ginster and the other two Democrat

135
00:07:23.160 --> 00:07:26.040
<v Speaker 1>commissioners feel us a different way. You see the clear

136
00:07:26.079 --> 00:07:28.839
<v Speaker 1>political divide, and we know Gary Ginster is a puppet

137
00:07:28.839 --> 00:07:32.680
<v Speaker 1>on strings control by Elizabeth Warren. I mean, we've talked

138
00:07:32.680 --> 00:07:35.240
<v Speaker 1>about this at nauseam. I don't have to repeat myself

139
00:07:35.240 --> 00:07:37.759
<v Speaker 1>with a million time. But I hope you see what's

140
00:07:37.759 --> 00:07:40.720
<v Speaker 1>happening here, and I'm glad they're launching an investigation. My

141
00:07:40.839 --> 00:07:44.120
<v Speaker 1>hope is that Patrick McHenry also issues that subpoena for

142
00:07:44.199 --> 00:07:47.639
<v Speaker 1>the FTX documents which Gary Ginser has not handed over yet.

143
00:07:47.680 --> 00:07:50.399
<v Speaker 1>And we know why he was trying to build that

144
00:07:50.519 --> 00:07:54.399
<v Speaker 1>special broker dealer license monopoly for FTX, where you know,

145
00:07:54.439 --> 00:07:56.519
<v Speaker 1>the SEC would control a lot of things, and of

146
00:07:56.560 --> 00:07:58.839
<v Speaker 1>course that fell apart. He didn't do his job in

147
00:07:58.920 --> 00:08:03.279
<v Speaker 1>doing his due diligence in investigating what FTX was doing,

148
00:08:03.360 --> 00:08:05.920
<v Speaker 1>and of course there was the whole collapse under his watch.

149
00:08:06.000 --> 00:08:09.480
<v Speaker 1>So there's also a hearing coming up, guys, and here

150
00:08:09.600 --> 00:08:12.639
<v Speaker 1>eleanor Terrati, Fox Business reported September is a big month

151
00:08:12.639 --> 00:08:16.399
<v Speaker 1>for hearings on Capitol Hill. The Financial Committee just announced

152
00:08:16.480 --> 00:08:20.600
<v Speaker 1>one for next Wednesday at ten am Eastern entitled Dazed

153
00:08:20.639 --> 00:08:25.319
<v Speaker 1>and Confused, breaking down the SEC's politicize approach to digital assets.

154
00:08:25.439 --> 00:08:30.480
<v Speaker 1>Witnesses yet to be announced. They're having a hearing on this.

155
00:08:30.800 --> 00:08:33.759
<v Speaker 1>Gary's gonna get embarrassed. He's gonna get grilled. Gary Ginster

156
00:08:33.919 --> 00:08:35.639
<v Speaker 1>is also said to be appearing on a hill at

157
00:08:35.639 --> 00:08:38.399
<v Speaker 1>the end of the month, although I'm told an official

158
00:08:38.480 --> 00:08:41.159
<v Speaker 1>date and whether or not they will invite other SEC

159
00:08:41.200 --> 00:08:45.000
<v Speaker 1>commissioners to testify alongside him has not been finalized yet.

160
00:08:45.399 --> 00:08:49.159
<v Speaker 1>I would love for other commissioners, especially like Hester Purtser

161
00:08:49.159 --> 00:08:52.480
<v Speaker 1>Marqui Wada, to come in and speak, to have some balance.

162
00:08:52.559 --> 00:08:55.279
<v Speaker 1>That would be very interesting. It looks like they're ramping

163
00:08:55.320 --> 00:08:58.399
<v Speaker 1>up their efforts here against the SEC, and look, Gary

164
00:08:58.440 --> 00:09:01.960
<v Speaker 1>Gainster has lost the narrative right. He's a complete buffoon.

165
00:09:02.320 --> 00:09:05.440
<v Speaker 1>I've been calling him a scumbag because he's not engaging

166
00:09:05.440 --> 00:09:08.480
<v Speaker 1>with the crypto industry in good faith. He is doing

167
00:09:08.559 --> 00:09:11.600
<v Speaker 1>scumbag activities, and as we've talked a lot about, it's

168
00:09:11.639 --> 00:09:14.480
<v Speaker 1>all because he's trying to protect the Tradify incumbents who

169
00:09:14.480 --> 00:09:18.200
<v Speaker 1>have weaponized him. They made the call, Gary, stop these guys.

170
00:09:18.360 --> 00:09:20.000
<v Speaker 1>We need to catch up. We want to launch our

171
00:09:20.039 --> 00:09:23.240
<v Speaker 1>own blockchains. We want to control this market. So that's

172
00:09:23.519 --> 00:09:26.679
<v Speaker 1>the game. Here now. Eleanor Trott is also reporting that

173
00:09:27.039 --> 00:09:31.480
<v Speaker 1>on Wednesday afternoon, the Digital Chamber and Congressman Wilie Nichols

174
00:09:31.480 --> 00:09:36.000
<v Speaker 1>office hosted a private policy focused roundtable meeting that's centered

175
00:09:36.000 --> 00:09:40.000
<v Speaker 1>specifically on bitcoin. The meeting was for House Democrats interested

176
00:09:40.039 --> 00:09:42.679
<v Speaker 1>in learning more about the largest digital currency and how

177
00:09:42.679 --> 00:09:45.960
<v Speaker 1>to legislate it, she said. In attendance eight Democratic House

178
00:09:46.000 --> 00:09:50.360
<v Speaker 1>members names were not revealed, and representatives from Riot Platforms,

179
00:09:50.399 --> 00:09:53.759
<v Speaker 1>Baker McKenzie, and a bunch of the other bitcoin mining companies.

180
00:09:53.840 --> 00:09:57.480
<v Speaker 1>She said. Topics discussed We're using bitcoin for financial inclusion,

181
00:09:57.559 --> 00:10:01.360
<v Speaker 1>mining and energy sustainability, and as well as competition with China,

182
00:10:01.399 --> 00:10:04.879
<v Speaker 1>so this is great. We need to do advocacy and education.

183
00:10:05.000 --> 00:10:07.240
<v Speaker 1>We need to get more Democrats on board. We know

184
00:10:07.279 --> 00:10:09.879
<v Speaker 1>a good amount of them flipped on Gary Against and

185
00:10:09.919 --> 00:10:12.759
<v Speaker 1>Elizabeth Warren in repealing SAF one two one and in

186
00:10:12.840 --> 00:10:15.399
<v Speaker 1>passing the FIT twenty one bill out of the House.

187
00:10:15.679 --> 00:10:17.240
<v Speaker 1>But we need to get this bill through the Senate,

188
00:10:17.279 --> 00:10:20.200
<v Speaker 1>and we need more of them to influence Kamala Harris

189
00:10:20.200 --> 00:10:22.679
<v Speaker 1>because we have not heard where she stands. We've heard

190
00:10:22.919 --> 00:10:26.399
<v Speaker 1>little cricket noises, braid or a little breadcrumbs that, oh yeah,

191
00:10:26.399 --> 00:10:29.759
<v Speaker 1>she'll support crypto, but show me, don't tell me, right.

192
00:10:29.879 --> 00:10:31.840
<v Speaker 1>We need to hear it straight from her mouth. We

193
00:10:31.879 --> 00:10:34.480
<v Speaker 1>need to see some sort of policy. But this is great.

194
00:10:34.559 --> 00:10:37.799
<v Speaker 1>Shout out to Congressman Wilely Nickel, Democrats. Shout out to Rocana.

195
00:10:38.120 --> 00:10:41.720
<v Speaker 1>They're doing their best here, but we need more action, guys.

196
00:10:42.000 --> 00:10:45.840
<v Speaker 1>But good news now, so not so good news. E Toro,

197
00:10:46.200 --> 00:10:48.360
<v Speaker 1>which is one of the companies that was being sued

198
00:10:48.399 --> 00:10:51.039
<v Speaker 1>by the SEC. Because every exchange is getting sued by

199
00:10:51.080 --> 00:10:53.639
<v Speaker 1>the SEC right now, Coinbase, Robin Hoood, Crack and you

200
00:10:53.720 --> 00:10:57.639
<v Speaker 1>name it, right, Uni Swap, even well, E Toro. They

201
00:10:57.679 --> 00:11:00.360
<v Speaker 1>are going to cease most of their crypto offers in

202
00:11:00.399 --> 00:11:02.759
<v Speaker 1>the United States and they have settled with the SEC.

203
00:11:03.200 --> 00:11:06.039
<v Speaker 1>So it really sucks that they are capitulating here. They're

204
00:11:06.039 --> 00:11:08.480
<v Speaker 1>going to pay one point five million dollars as part

205
00:11:08.480 --> 00:11:11.720
<v Speaker 1>of a settlement. This really sucks. It's not good news

206
00:11:11.759 --> 00:11:14.919
<v Speaker 1>because Gary's going to take this and say, see see

207
00:11:15.039 --> 00:11:17.039
<v Speaker 1>I told you guys right, He's going to try to

208
00:11:17.159 --> 00:11:20.279
<v Speaker 1>use this in his case against Coinbase and these other folks.

209
00:11:20.320 --> 00:11:22.840
<v Speaker 1>But it is what it is. And I really wish

210
00:11:22.879 --> 00:11:26.080
<v Speaker 1>Etore would have fought back. But you know, right now,

211
00:11:26.559 --> 00:11:30.399
<v Speaker 1>because of this whole shutdown. Users or US users can

212
00:11:30.440 --> 00:11:34.080
<v Speaker 1>only trade bitcoin, bitcoin cash, and Ether. Other positions will

213
00:11:34.120 --> 00:11:37.320
<v Speaker 1>be liquidated in mid March of next year, so no

214
00:11:37.480 --> 00:11:40.559
<v Speaker 1>all coins, no other all coins outside of Etheroreum and

215
00:11:40.600 --> 00:11:45.080
<v Speaker 1>bitcoin cash because of this regulatory uncertainty. This is the

216
00:11:45.120 --> 00:11:49.039
<v Speaker 1>scumbag activity we're dealing with here. A bunch of legal

217
00:11:49.039 --> 00:11:51.879
<v Speaker 1>experts and lawyers weighed in on this. Paul Griwall of

218
00:11:51.919 --> 00:11:55.120
<v Speaker 1>Coinbase that they just conceded eth is not offered as

219
00:11:55.120 --> 00:11:58.919
<v Speaker 1>an investment contract security in secondary markets. But the SEC

220
00:11:58.960 --> 00:12:02.799
<v Speaker 1>will not explain why ethan bitcoin but no others because

221
00:12:02.799 --> 00:12:06.399
<v Speaker 1>they can't. There is no plan, no framework, no logic,

222
00:12:06.480 --> 00:12:08.960
<v Speaker 1>no due process, and certainly no respect for the law.

223
00:12:09.080 --> 00:12:12.120
<v Speaker 1>He's absolutely right here. Bill Hughes, who I've had on

224
00:12:12.159 --> 00:12:15.679
<v Speaker 1>the podcast, He's a lawyer at Consensus said. The SEC's

225
00:12:15.840 --> 00:12:19.080
<v Speaker 1>order says e Toro US had around two hundred and

226
00:12:19.200 --> 00:12:22.399
<v Speaker 1>forty thousand customer accounts. To put that in perspective, Coinbase

227
00:12:22.440 --> 00:12:25.480
<v Speaker 1>has over one hundred million. One point five million dollars

228
00:12:25.559 --> 00:12:28.080
<v Speaker 1>is nothing. It's a departure fee for leaving the United

229
00:12:28.080 --> 00:12:31.840
<v Speaker 1>States behind and focusing on international business. So it really

230
00:12:31.879 --> 00:12:35.279
<v Speaker 1>sucks that now e Toro can't offer full services here

231
00:12:35.279 --> 00:12:38.799
<v Speaker 1>in the US. It eliminates, you know, some competition, and

232
00:12:38.840 --> 00:12:42.879
<v Speaker 1>competition is healthy for consumers in the market. Alexander Grieves said,

233
00:12:42.879 --> 00:12:46.120
<v Speaker 1>e Toro just settled with the SEC over offering crypto

234
00:12:46.279 --> 00:12:51.240
<v Speaker 1>on their platform. First off, what reset? Second and more importantly,

235
00:12:51.559 --> 00:12:54.600
<v Speaker 1>note that the SEC permits eth to continue trading on

236
00:12:54.639 --> 00:12:58.559
<v Speaker 1>the platform, effectively enshrining it as a non security commodity.

237
00:12:59.320 --> 00:13:02.840
<v Speaker 1>So really sucks. Now some good news. Let's move on

238
00:13:02.879 --> 00:13:06.879
<v Speaker 1>to some good news here today in tokenization, Morgan from

239
00:13:07.240 --> 00:13:11.799
<v Speaker 1>Ava Labs highlighted the following Parafied Capital tokenized part of

240
00:13:11.840 --> 00:13:15.480
<v Speaker 1>their VC fund on the Avalanche blockchain. Its native token

241
00:13:15.559 --> 00:13:20.600
<v Speaker 1>is AVAX, leveraging securitize. So the tokenization of assets and

242
00:13:20.639 --> 00:13:23.919
<v Speaker 1>funds and so forth continues, guys. And we're seeing tokenization

243
00:13:24.159 --> 00:13:28.759
<v Speaker 1>on Avalanche, on Etheroreum, on Solana and so forth. This

244
00:13:28.960 --> 00:13:31.399
<v Speaker 1>is the future the token economy, which I've been telling

245
00:13:31.399 --> 00:13:34.200
<v Speaker 1>you guys for years, and I am bullish an Avalanche.

246
00:13:34.240 --> 00:13:36.639
<v Speaker 1>I do have some of the avas token in my portfolio.

247
00:13:36.879 --> 00:13:40.159
<v Speaker 1>I just recently had Carlos Domingo of Securitize. They're working

248
00:13:40.159 --> 00:13:43.279
<v Speaker 1>with black Rock obviously to help them tokenize their fund

249
00:13:43.759 --> 00:13:45.600
<v Speaker 1>and if you haven't seen that interview, check it out.

250
00:13:45.600 --> 00:13:47.799
<v Speaker 1>I'm gonna try to get John Wu of Ava Labs

251
00:13:47.840 --> 00:13:50.120
<v Speaker 1>back on the pond to talk about the big news

252
00:13:50.240 --> 00:13:53.120
<v Speaker 1>here and the other things they've been working on. They've

253
00:13:53.120 --> 00:13:55.639
<v Speaker 1>been getting a lot of adoptions. So avax is a

254
00:13:55.679 --> 00:13:58.879
<v Speaker 1>token to watch guys. It could do really well in

255
00:13:58.879 --> 00:14:02.559
<v Speaker 1>this bullmarket. Big news from coinbase. Coinbase rolls out wrap

256
00:14:02.679 --> 00:14:08.200
<v Speaker 1>bitcoin alternative cb BTC on etherorem and base. So this

257
00:14:08.279 --> 00:14:12.240
<v Speaker 1>is interesting. The cb BTC token is initially supported on

258
00:14:12.279 --> 00:14:14.799
<v Speaker 1>the etherorem and based networks, providing a means to use

259
00:14:14.840 --> 00:14:19.120
<v Speaker 1>Bitcoin in their decentralized finance ecosystems. So rap tokens, as

260
00:14:19.120 --> 00:14:21.720
<v Speaker 1>they said here, enables you to do a lot with DeFi.

261
00:14:22.399 --> 00:14:25.519
<v Speaker 1>So many tokens will get wrapped and so forth. And

262
00:14:25.559 --> 00:14:29.000
<v Speaker 1>you know bitcoin doesn't natively have any smart contract capability,

263
00:14:29.080 --> 00:14:31.919
<v Speaker 1>so this is why wrapping it will help enable that.

264
00:14:32.279 --> 00:14:35.720
<v Speaker 1>So big news and smart move here by Coinbase. This

265
00:14:35.759 --> 00:14:37.840
<v Speaker 1>is going to open up a lot of utility for bitcoin.

266
00:14:38.360 --> 00:14:41.600
<v Speaker 1>Now some more good news, Anchorage Digital to provide custody

267
00:14:41.600 --> 00:14:44.919
<v Speaker 1>for twenty one shares spot Bitcoin and ether ets. You

268
00:14:44.960 --> 00:14:47.679
<v Speaker 1>may say, well, what's good about this, Well, a lot

269
00:14:47.720 --> 00:14:51.159
<v Speaker 1>of the ETFs are currently being custodied by coin based custody,

270
00:14:51.559 --> 00:14:55.480
<v Speaker 1>so one could argue that's a very centralized setup and

271
00:14:55.559 --> 00:14:58.799
<v Speaker 1>that's not good. We want diversification in custody. So the

272
00:14:58.840 --> 00:15:01.279
<v Speaker 1>fact that a lot of the these etf issuers are

273
00:15:01.320 --> 00:15:05.799
<v Speaker 1>diversifying and going to different custodians, that's very good, right,

274
00:15:05.919 --> 00:15:09.519
<v Speaker 1>because we don't want the risk of a collapse by

275
00:15:09.559 --> 00:15:12.600
<v Speaker 1>one entity and that ruins the entire market, right, that

276
00:15:12.759 --> 00:15:17.480
<v Speaker 1>is not good. We don't need any more FTX type situations.

277
00:15:17.480 --> 00:15:20.440
<v Speaker 1>And I'm not saying Coinbase is doing anything fraudulent or

278
00:15:20.480 --> 00:15:23.559
<v Speaker 1>scammy or whatever. I'm just saying it's just increases the

279
00:15:23.679 --> 00:15:27.919
<v Speaker 1>risk that if something God forbid where it happen to coinbase,

280
00:15:29.000 --> 00:15:31.440
<v Speaker 1>it would be pretty detrimental to the market, right, folks.

281
00:15:31.440 --> 00:15:34.039
<v Speaker 1>So black Rock uses coin based custody and so forth.

282
00:15:34.200 --> 00:15:36.919
<v Speaker 1>Now twenty one Shares is also going to be using bitgo.

283
00:15:37.399 --> 00:15:39.720
<v Speaker 1>So bit goes a sponsor in my podcast and they're

284
00:15:39.759 --> 00:15:43.600
<v Speaker 1>a trusted custodian as well, So great news. Good to

285
00:15:43.600 --> 00:15:46.039
<v Speaker 1>see the diversification. This is what we want to see,

286
00:15:46.279 --> 00:15:50.639
<v Speaker 1>trusted institutions who have insurance, security and much more. The

287
00:15:50.759 --> 00:15:54.480
<v Speaker 1>versification of how the assets are stored and really really

288
00:15:54.480 --> 00:15:57.159
<v Speaker 1>good for the future adoption and growth of the asset class.

289
00:15:57.399 --> 00:15:59.320
<v Speaker 1>That's the news, folks. Let me know what you think,

290
00:15:59.440 --> 00:16:02.759
<v Speaker 1>especially about the XRP grayscale news. I think that's a

291
00:16:02.759 --> 00:16:05.840
<v Speaker 1>big one. And don't forget to sign up for my

292
00:16:05.919 --> 00:16:09.960
<v Speaker 1>free email newsletter on substack. It's one hundred percent free podcast.

293
00:16:10.000 --> 00:16:12.279
<v Speaker 1>By grabbing a copy of my book. It's available on

294
00:16:12.320 --> 00:16:15.120
<v Speaker 1>Amazon and paperback in digital also on Barnes and Nobles

295
00:16:15.159 --> 00:16:17.720
<v Speaker 1>dot com. Buy a copy for yourself, Buy a few

296
00:16:17.720 --> 00:16:20.480
<v Speaker 1>copies for your friends and family. It makes a great gift.

297
00:16:20.799 --> 00:16:22.840
<v Speaker 1>Help them to learn about crypto as we enter the

298
00:16:22.840 --> 00:16:26.000
<v Speaker 1>next phase of the bullmarket. Guys, it includes investment tips

299
00:16:26.000 --> 00:16:29.440
<v Speaker 1>and so forth. It talks about Crypto's past, president and future.

300
00:16:29.639 --> 00:16:31.840
<v Speaker 1>And if you bought a copy already, please please please

301
00:16:31.919 --> 00:16:34.000
<v Speaker 1>leave a rating and review. It will really help me

302
00:16:34.080 --> 00:16:37.000
<v Speaker 1>out in my rankings. Thank you so much. I appreciate

303
00:16:37.039 --> 00:16:39.279
<v Speaker 1>you all, and I'll talk to you all later.