Speaker 1: Hey, everyone, Welcome into the Thinking Crypto Podcasts. You're 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
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Speaker 1: make sure you watch and listen to the end. We
Speaker 1: got lots of big news President Trump calling out the banks,
Speaker 1: plus major crypto adoption by institutions such as MasterCard so
Speaker 1: far and much more. Let's get into it. Okay, folks,
Speaker 1: We got to start with President Trump because he issued
Speaker 1: a big statement today rebuking the banks, saying they are
Speaker 1: holding up the Clarity Act, which is a crypto market
Speaker 1: structure legislation because of the stable coin yield situation. We
Speaker 1: know the crypto industry and the banking sector have being
Speaker 1: butting heads over this because the Genius Act allows for
Speaker 1: you and I to be able to go earn stable
Speaker 1: coin yield and rewards on different platforms such as uphole,
Speaker 1: coin base and others. The banks don't like that. We've
Speaker 1: talked about this ad nauseum. They want to keep their
Speaker 1: big fat bonus checks. They don't want to give you anything.
Speaker 1: They want to give you zero point zero one percent,
Speaker 1: right next to nothing while they get the big bonuses.
Speaker 1: But a new day is here. So let me share
Speaker 1: the statement of what President Trump shared on truth Social
Speaker 1: He says, the Genius Act is being threatened and undermined
Speaker 1: by the banks, and that is unacceptable. We are not
Speaker 1: going to allow it. The US needs to get market
Speaker 1: structure done asap. Americans should earn more money on their money.
Speaker 1: The banks are hitting record profits and we are not
Speaker 1: going to allow them to undermine our powerful crypto agenda.
Speaker 1: That will end up going to China and other countries
Speaker 1: if we don't get the Clarity Act taken care of.
Speaker 1: The Genius Act was the USA's first big step to
Speaker 1: make the United States the crypto capital of the world,
Speaker 1: and getting the Claritiact done is the next step to
Speaker 1: finish the job and most importantly, keep this big and
Speaker 1: powerful industry in our country. The banks should not be
Speaker 1: trying to undercut the Genius Act or hold a Clarity
Speaker 1: Act hostage. They need to make a good deal with
Speaker 1: the crypto industry because that's what's in the best interest
Speaker 1: of the American people. This industry cannot be taken from
Speaker 1: the people of America when it is so close to
Speaker 1: becoming truly successful. Thank you for your attention on this
Speaker 1: matter of President Donald J. Trump. So this is incredible, guys,
Speaker 1: because this is coming from the top. Now. The President
Speaker 1: is literally calling out banks, saying, you are holding up
Speaker 1: the crypto Market Structure bill because you're disputing the stable
Speaker 1: coin yield situation with the Genius Act. We know the
Speaker 1: Genius Act is law, and the banks, I guess they
Speaker 1: got caught flat footed and they feel threatened. But again,
Speaker 1: it's about the bonuses, right. We don't want to give
Speaker 1: up our profits. We don't want to give up our
Speaker 1: bonus checks that we get at the end of the year.
Speaker 1: So it looks like David Sachs and Patrick Witt escalated
Speaker 1: the situation, right. They took it to the higher level here.
Speaker 1: And this is pretty incredible and also very bullish. The
Speaker 1: President of the United States calling out the banks and
Speaker 1: saying we need to get the market structure done. So
Speaker 1: this should put a lot of pressure. It's huge optics
Speaker 1: here against the banking industry. So I think we're going
Speaker 1: to have some sort of agreement soon because Trump has
Speaker 1: threatened certain things in the pass against credit card companies
Speaker 1: as well as banks and much more so. I think
Speaker 1: the fact that he's putting this out there is a
Speaker 1: very good sign and pretty incredible. I did not expect
Speaker 1: to see this, but they definitely want to get the
Speaker 1: market structure built through guys, and as we've been talking about,
Speaker 1: that's going to allow lots of capital to come into
Speaker 1: the industry and we're going to see more adoption in building.
Speaker 1: So incredible statements here by the President. Now a lot
Speaker 1: of folks weigh in on this, and here Ripples CEO
Speaker 1: Brad Garlinghouse said, an extremely pointed message from the President
Speaker 1: of the United States. So those who are dragging their
Speaker 1: feet on Clarity, this is and always has been about
Speaker 1: what's in the best interest of the American people. CFDC
Speaker 1: Chair of Mike Selegg says, the President of the United
Speaker 1: States is right. The Clarity Act must pass. It's critical
Speaker 1: we have a future proof digital asset market structure in place.
Speaker 1: The CFTC is eager to implement the Act. Under this
Speaker 1: historic administration, President Trump is unleashing a goal in age
Speaker 1: in America, and this legislation is a key part of
Speaker 1: securing the US as the global leader in innovation. The
Speaker 1: time to act is now now. Ron Hammond, who has
Speaker 1: been a very frequent guest on this podcast. He now
Speaker 1: is working at Wintermute, said, the closer we get to
Speaker 1: the election, the odds of the Clarity passage gets lower.
Speaker 1: Banks know this stall long enough till election politics takes over.
Speaker 1: It's a classic lobbying tactic. But Trump is the kind
Speaker 1: of X factor that could force their political calculus to change.
Speaker 1: So the banks, they're smart, they know what they're doing, right.
Speaker 1: They also have been building a war chest getting ready
Speaker 1: for the midterms, and they want to control crypto. They
Speaker 1: don't want to kill it, they just want to control
Speaker 1: all of it, just like they control the other assets
Speaker 1: in the trad fire world. That's what they're trying to do.
Speaker 1: So Ron called it out pretty well here that this
Speaker 1: is a tactic you're using to stall. Right. He'd come
Speaker 1: back and say, oh, the crypto industry is not letting
Speaker 1: us do these things, and blah blah blah. And just
Speaker 1: yesterday I reported to you guys, JP Morgan CEO Jamie
Speaker 1: Diamond was pretty much you know, saying, oh, we need
Speaker 1: to have a level playing field. You know with crypto
Speaker 1: and all that. Yeah, well, how about you level up
Speaker 1: and launch your own stable coins and offer rewards or
Speaker 1: in your savings accounts up the interest so people don't
Speaker 1: have to go to stable coins for the yield. Right,
Speaker 1: But of course he won't say that. He won't do
Speaker 1: that because it's all about his bonus checks, right, That's
Speaker 1: what this is all about. Okay, moving ahead, CFTC chair
Speaker 1: teases crypto perpetual futures in the next month or so.
Speaker 1: So SEC Chair Paul Atkins and CFTC Chair Mike Sealak
Speaker 1: address market structure, prediction markets, and perpetual futures at a
Speaker 1: Tuesday event. So they both spoke at this event, and
Speaker 1: you know, one of the things that SEC Chair Paul
Speaker 1: Atkins said is that they're looking forward to un chain settlement,
Speaker 1: where we go to T zero, so instant settlement, atomic
Speaker 1: settlement essentially. So in a Tuesday panel hosted by the
Speaker 1: Milken Institute in Washington, D C. Selig said that the
Speaker 1: CFDC was working toward getting true perpetual futures in the
Speaker 1: United States within the next month or so. The prior
Speaker 1: administration drove a lot of these firms and the liquidity offshore,
Speaker 1: said sea Leg Indie panel discussion and sea Leg all
Speaker 1: added that the CFTC was working to provide guidance regarding
Speaker 1: prediction markets in the very near future. He claimed in
Speaker 1: February that the agency had exclusive jurisdiction over regulating platforms
Speaker 1: offering event contracts, pushing back against many state level enforcement
Speaker 1: actions against companies including Calshi and Polymarket. So both the
Speaker 1: CFTC and the SEC are working together here, guys, to
Speaker 1: push crypto for forward, provide the rules, and it's great
Speaker 1: to see the two agencies and lockstep looking to get
Speaker 1: things done here. So this is all very bullish, now, guys,
Speaker 1: we get huge trade five institutional adoption of crypto. So
Speaker 1: today Sofi Bank and MasterCard announced an enhanced partnership to
Speaker 1: enable the Sofi stable coin called sofi USD as a
Speaker 1: settlement option across MasterCards Global Payments Network. Sofi USD as
Speaker 1: a settlement currency across MasterCards network enables issuers and acquirers
Speaker 1: to help millions of businesses to instantly settle twenty four
Speaker 1: to seven. So this right here, guys, is a clear
Speaker 1: example of the use case of blockchain right and we've
Speaker 1: been talking about it for years now right, those of
Speaker 1: you who've been around with me since twenty eighteen or
Speaker 1: late twenty seventeen, you know we've been talking about this
Speaker 1: the token economy, right, and I've been preaching to you guys,
Speaker 1: the capital markets, the future economies and governments will all
Speaker 1: run on bl blockchain rails. That's what's being built here.
Speaker 1: Please don't miss it. And this is where you got
Speaker 1: to look at it from a macro view. Take your
Speaker 1: bets and be patient. Right. So it's incredible and here
Speaker 1: you know, they said as the closing statement to this announcement,
Speaker 1: join us as we build for the next era of finance. Incredible.
Speaker 1: Master Card tweeted out the news, saying more ways to
Speaker 1: move money with the trust and scale businesses expect. Proud
Speaker 1: to partner with SOFI to enable so far us the
Speaker 1: settlement across our network and support always on commerce. Incredible
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Speaker 1: got big news around Ripple. So Ripple expands stable coin
Speaker 1: payments stacked for banks and FinTechs. So we've been hearing
Speaker 1: a lot in the news lately about Ripple and the
Speaker 1: XRP ledger and all the upgrades you're doing, so let
Speaker 1: me give it to details here. Ripple is expanding its
Speaker 1: stable coin payments platform for banks and FinTechs, aiming to
Speaker 1: reduce the need to park money overseas and speed up
Speaker 1: cross border transactions. Ripple Payments, the company's global payments platform
Speaker 1: that connects financial institutions to blockchain based settlement rails, has
Speaker 1: been upgraded to support a broader stable coin workflow, including collection, custody, conversion,
Speaker 1: and payout, the company said on Tuesday. The move positions
Speaker 1: Ripple to compete more directly with legacy payment providers, as
Speaker 1: it is designed to reduce reliance on pre funded accounts
Speaker 1: and traditional correspondent banking networks, which can tie up capital
Speaker 1: and delay cross border Payments, So this will of course
Speaker 1: include Ripple's stable coin r l USD as well as
Speaker 1: use of the XRP ledger. Now will that be in
Speaker 1: every transaction? Of course, not right, because there's different corridors,
Speaker 1: different places in the world where maybe certain technologies will
Speaker 1: not be needed. Right, But of course there will be
Speaker 1: the use of the XRP laguer in different places and
Speaker 1: the rl USD stable coin. So Ripple Payments is live
Speaker 1: in more than sixty markets and has processed over one
Speaker 1: hundred billion dollars in transaction volume to date. The company
Speaker 1: cited Switzerland's Ameta Bank, Brazil's bancogen El, Malaysia's ecib and
Speaker 1: Philippines based alt pay nets as examples of companies participating
Speaker 1: in the network. Huge, huge news here, folks. And now
Speaker 1: speaking of banks, look at this. Bank of Japan expands
Speaker 1: blockchain settlement sandbox and says CBDC efforts are ongoing. So
Speaker 1: again you see the direction the puck is heading in here.
Speaker 1: This is no longer a proof of concept, a trial
Speaker 1: and error. No, they're building right, CBDC stable coins. They're
Speaker 1: leveraging blockchain for tokenization and much more. Guys. So we
Speaker 1: are still in the early days when you look at
Speaker 1: the S curve adoption, because a lot of the infrastructure
Speaker 1: is now getting set up, and you know, obviously we're
Speaker 1: waiting for legislation, which I think will fast track a
Speaker 1: lot of that building. But you know, these folks they
Speaker 1: want to build it, but in order for them to
Speaker 1: push it to full production to the masses, you need
Speaker 1: the legislation in place. So the Bank of Japan has
Speaker 1: launched a blockchain based sandbox project to test settlements using
Speaker 1: central Bank reserves held as current account deposits. The project
Speaker 1: will explore how blockchain systems can connect with existing infrastructure
Speaker 1: for use cases such as domestic interbank securities settlement, which
Speaker 1: analysts say could enable instant, round the clock transactions and
Speaker 1: reduce gridlock risk. That right there, we're seeing stock exchanges
Speaker 1: and banks around the world going twenty four to seven, right,
Speaker 1: that's what they're talking about. Crypto started that, and the
Speaker 1: reason Crypto was able to do that is because of
Speaker 1: blockchain tech. So Governor Kazuo Yueida from saying that right said,
Speaker 1: the boj's Retail Central Bank Digital Currency Pilot remains underway,
Speaker 1: while Japan also participates in Project Agora to test tokenize
Speaker 1: wholesale central bank deposits for more efficient cross border payments.
Speaker 1: So guys, they're building out tokenized deposits, cbdc's stable coins,
Speaker 1: and as mentioned, tokenizing as many of the tradi fi
Speaker 1: assets as possible, stocks, equities, commodities. That's all going on chain.
Speaker 1: So book it. It's a done deal. The process and
Speaker 1: the sausage making, you know, it's gonna maybe take a
Speaker 1: little bit. They're gonna test different blockchains, they're gonna get
Speaker 1: their legislation through, they'll fine tune things. But ten years
Speaker 1: from now it's gonna be very different. I've been telling
Speaker 1: you guys, no more opening and closing bill. That will
Speaker 1: be a thing of the pass. We're gonna see twenty
Speaker 1: four to seven, three sixty five markets, no more nights
Speaker 1: and weekends and holidays, guys, and AI and AI agents
Speaker 1: will be assisting a lot of these markets in trading
Speaker 1: twenty four to seven and all these things. That is
Speaker 1: what's coming. So it's inevitable. So this is where you
Speaker 1: take your bets. Be patient, have the macro view. As mentioned,
Speaker 1: and here's another example, so Swift the payments messaging system.
Speaker 1: You know, many years ago they used to talk trash
Speaker 1: about blockchain. We don't need blockchain. Our system is fine, right,
Speaker 1: But that was them as the incumbents getting disrupted. Remember
Speaker 1: it's a group of banks. It's essentially all the banks, right,
Speaker 1: and they formed this messaging system, but it's outdated, it's old,
Speaker 1: and it's become irrelevant right in the age of the
Speaker 1: Internet and blockchain. Look at this, Swift is saying here
Speaker 1: that their partnering with be and why so they said,
Speaker 1: b and ys among the global institutions collaborating with us
Speaker 1: to help design our blockchain based ledger for cross border
Speaker 1: payments and tokenie value. Through the close collaboration, we're building
Speaker 1: a more connected, secure and interoperable financial system. So they've
Speaker 1: pretty much capitulated, right. They used to talk, like I said,
Speaker 1: trash about blockchain and crypto. Now they're trying to adopt blockchain.
Speaker 1: So guys, I hope you see what's happening. The biggest
Speaker 1: dominoes are falling. Here's another example. Visa and Stripes Bridge
Speaker 1: plan stable coin card expansion to over one hundred countries.
Speaker 1: So again, bank stock exchanges, credit card companies, the biggest
Speaker 1: investment firms in the world all involved in crypto and
Speaker 1: blockchain so global payments giant Visa is expanding its stable
Speaker 1: coin card partnership with Stripe owned Bridge, expanding the rollout
Speaker 1: of stable coin linked Visa cards worldwide and testing on
Speaker 1: chain settlement. Visa and Bridge are expanding their joint card
Speaker 1: program to eighteen countries, which plans to reach more than
Speaker 1: one hundred across Europe, Asia, Pacific, Africa, and the Middle
Speaker 1: East by the end of the year. The expansion follows
Speaker 1: the program's initial launch in April twenty twenty five, which
Speaker 1: first supported markets in Latin America, including Argentina, Columbia, Ecuador, Mexico, Peru,
Speaker 1: and Chile. In addition to the expansion, the companies are
Speaker 1: testing stable coin settlement through Visa's pilot program, enabling users
Speaker 1: and acquirers to settle transactions using stable coins rather than Fiat. Again, guys,
Speaker 1: see where we're headed and it says here. The move
Speaker 1: highlights the ongoing stable coin raised indie payments industry, with
Speaker 1: MasterCard recently enabling stable coin card spending, with MasterCard recently
Speaker 1: enabling stable coin card spending in the US via the
Speaker 1: self custodial crypto wallet Madam mass So that news I
Speaker 1: reported to you guys over the past couple of days.
Speaker 1: So incredible adoption, folks. Just incredible stuff. Now, big news
Speaker 1: around Onto finance. So I'm a ONTO token holder. I'm
Speaker 1: sure many of you are as well. So Onto Finance
Speaker 1: tokenized stocks platform on Binance wins regulatory approval in Abu Dhabi.
Speaker 1: So again, guys, global expansion, mergers, acquisitions, huge investments. Everybody's
Speaker 1: setting up for the token economy. So Abu Dhabi's Global
Speaker 1: Markets Regulator approve Ondo finances token is stocks and et
Speaker 1: apps on Finance's regulated trading venue. This is the first
Speaker 1: time the ADGM approved token is securities trading under its
Speaker 1: regulatory framework, allowing institutions to deal in digital equities. Ondo,
Speaker 1: which structures its products as equity linked notes and has
Speaker 1: processed more than eleven billion dollars in trading volume. It's
Speaker 1: part of a broader push to put traditional equities on blockchains,
Speaker 1: a market now valued at over one billion dollars. Incredible
Speaker 1: stuff here, folks. Okay, final news item. Eric Trump's American
Speaker 1: Bitcoin has purchased eleven two hundred and ninety eight more
Speaker 1: BTC miners to help protect the network and lead the
Speaker 1: future of bitcoin in America. That's a quote from him.
Speaker 1: But I don't care if you don't like Eric Trump
Speaker 1: or Trump at all. This is bullish, guys, because if
Speaker 1: the Trump family is taking all these big bets and
Speaker 1: people are saying crypto is dead, it's pointless. It's use
Speaker 1: as we're seeing the headlines, right. I shared with you
Speaker 1: guys that article from the New York Times just the
Speaker 1: other day where they're saying it's pointless, and not even
Speaker 1: the Trump family can say it. But again, you're seeing
Speaker 1: all the banks and all these major institutions taking these
Speaker 1: big bets. You're seeing the Trump family up their crypto
Speaker 1: investments in companies. I think they know what's coming, right,
Speaker 1: So this is where you know. That's one of those
Speaker 1: signals I'm looking at. And again it's not so much
Speaker 1: about the politics. There's things I disagree with and on
Speaker 1: and so forth. For example, I hate that Trump launch
Speaker 1: a meme coin and Malania launch a meme coin. I
Speaker 1: think that hurt the crypto market and the past bull market,
Speaker 1: not now specifically, but the fact that they continue to
Speaker 1: double down. They're not doing this in the AI sector
Speaker 1: or any other sector, right, not even robotics, and we
Speaker 1: know that's coming. They're doing it in crypto. So I
Speaker 1: think that's a bullish sign. Again, put your political biases aside,
Speaker 1: just the simple fact where are they putting your money,
Speaker 1: what are they investing in, what are they building? That's
Speaker 1: a sign. So I think guys, once the Crypto Market
Speaker 1: Structure Bill has passed the clarity at I think that
Speaker 1: kicks off the super cycle. So my thesis could be wrong,
Speaker 1: but I think many of you can agree with me logically.
Speaker 1: Once that's past, we're going to see a lot more
Speaker 1: adoption from trad fi institutions, more capital coming into the market,
Speaker 1: and higher prices for the tokens. So you gotta be patient.
Speaker 1: You know, obviously dollar coross average in buy it when
Speaker 1: there's blood on the streets and fear and then hold
Speaker 1: that's the big thing. So, folks, that's the news. Let
Speaker 1: me know what you think. Leave your thoughts and commons below,
Speaker 1: hit the thumbsup button subscribe if you haven't as yet. Folks,
Speaker 1: Heads up, I will be publishing my interview with Malcolm Clark,
Speaker 1: who is the VP of Digital Assets at Western Union.
Speaker 1: That interview is coming tomorrow. You got to make sure
Speaker 1: you watch these guys. Why they are building their own
Speaker 1: stable coins and they're doing it on the Salana blockchain.
Speaker 1: I ask all the questions that many of you would
Speaker 1: want to know, so it's incredible to have this payment's giant,
Speaker 1: which I'm sure many of us have used building their
Speaker 1: own stable coins. So you don't want to miss this one.
Speaker 1: It's going to be published in the morning. Check it out,
Speaker 1: and I got some big interviews this week as well.
Speaker 1: I'll give you guys heads up. I'm going to be
Speaker 1: posting the images once I interview folks, but stay tuned folks. Now, guys,
Speaker 1: be sure to support the podcast by subscribing to my
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Speaker 1: did a write up yesterday, so check it out. Lots
Speaker 1: of chart data and much more. Again, it is one
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Speaker 1: my book on Amazon. It's available in paperback in digital,
Speaker 1: and check out my course at Mycrypto course dot com.
Speaker 1: If you want to learn more about blockchain and crypto technology,
Speaker 1: this is the course for you. It's comprehensive course. It
Speaker 1: is packed with tons of videos and write up and
Speaker 1: downloadable materials. So acknowledge is power, guys. Expand your knowledge
Speaker 1: about this asset class and technology all the links will
Speaker 1: be in the description. Thank you so much for tuning
Speaker 1: in everyone. I appreciate you all, and I'll talk to
Speaker 1: you all later