1 00:00:04,519 --> 00:00:07,679 Speaker 1: Hey, folks, welcome into the Thinking Crypto podcast. You're home 2 00:00:07,759 --> 00:00:11,640 for cryptocurrency news and interviews. I'm your host, Tony Edward. 3 00:00:11,800 --> 00:00:14,400 On your way in. Please hit that subscribe button as 4 00:00:14,439 --> 00:00:16,760 well as a thumbsup button and leave a common below. 5 00:00:17,079 --> 00:00:19,760 If you're listening on a podcast platform such as Spotify 6 00:00:19,839 --> 00:00:22,559 or Apple, please follow and leave a five star rating. 7 00:00:22,879 --> 00:00:24,839 All right, folks, we have a big update around the 8 00:00:24,839 --> 00:00:28,160 claritiac regards to the Democrats and what they're looking to 9 00:00:28,199 --> 00:00:31,800 do with the ethics management or enforcement by the states. 10 00:00:32,200 --> 00:00:35,920 So Democrats, led by Senator Galago are now working with 11 00:00:36,000 --> 00:00:40,159 GOP Senator Tom Tillis of North Carolina on a counter 12 00:00:40,280 --> 00:00:43,920 offer to the current draft of the bill, which includes 13 00:00:43,960 --> 00:00:48,880 the ethics Galago told reporters Monday night that lawmakers are 14 00:00:48,920 --> 00:00:51,799 finalizing language that they plan to send to the White 15 00:00:51,840 --> 00:00:54,439 House in the next couple of days. So we know 16 00:00:54,520 --> 00:00:57,479 the vote's not happening this week. Yesterday I reported to 17 00:00:57,479 --> 00:01:00,719 you all that next week, the week of August third, 18 00:01:00,880 --> 00:01:04,519 is when they're anticipating that vote. So Tillis signaled Monday 19 00:01:04,560 --> 00:01:08,000 that a key Democrat demand creating a role for state 20 00:01:08,040 --> 00:01:11,280 attorney generals to enforce the ethics language, not just the 21 00:01:11,359 --> 00:01:15,079 Department of Justice, will be included in what is sent 22 00:01:15,120 --> 00:01:16,760 back to the White House. Now, is it going to 23 00:01:16,799 --> 00:01:20,640 be something that's acceptable to the GOP folks? Will have 24 00:01:20,680 --> 00:01:23,359 to wait and see. But I've been saying that I 25 00:01:23,400 --> 00:01:27,239 don't like this proposal buy the Democrats because it's going 26 00:01:27,319 --> 00:01:30,239 to cause a lot of confusion with all the different 27 00:01:30,280 --> 00:01:34,840 state attorney generals unless, again, there's some sort of compromise 28 00:01:34,879 --> 00:01:37,840 that makes sense. Maybe it's as simple as if a 29 00:01:37,920 --> 00:01:40,159 state wants to take action, they have to notify the 30 00:01:40,200 --> 00:01:42,280 DOJ of what they're doing, get the green light, and 31 00:01:42,319 --> 00:01:45,359 then they can do their thing. Maybe that's a compromise. 32 00:01:45,439 --> 00:01:47,519 I don't know, but we're going to have to wait 33 00:01:47,560 --> 00:01:49,599 and see. But it's good to see that the Democrats 34 00:01:49,879 --> 00:01:51,840 are not just throwing your hands up in the air 35 00:01:51,879 --> 00:01:54,519 and saying, all right, that's it. They're looking to get 36 00:01:54,519 --> 00:01:57,519 something done, even though we don't have the detail. So 37 00:01:57,560 --> 00:01:59,640 we'll have to wait and see if this is actually 38 00:02:00,120 --> 00:02:03,599 doable or it's a non starter. So patients is the 39 00:02:03,640 --> 00:02:06,040 key here. Next week is going to be the big week. 40 00:02:06,079 --> 00:02:08,360 But I'm glad to see a counter offer is being 41 00:02:08,400 --> 00:02:11,520 worked on, and this is the sausage making process right. 42 00:02:11,520 --> 00:02:15,280 This is how it works in DC. The CLARITIAC continues 43 00:02:15,319 --> 00:02:19,599 to get support from multiple law enforcement agencies and associations. 44 00:02:19,599 --> 00:02:23,400 Here we have another one. The Consumer Technology Association has 45 00:02:23,479 --> 00:02:27,240 thrown its support behind the CLARITIAC. They said America should 46 00:02:27,280 --> 00:02:31,680 be competitive in blockchain and digital asset technologies. We respectfully 47 00:02:31,840 --> 00:02:36,080 urge you to prioritize Senate Floor consideration of the CLARITIAC. 48 00:02:36,400 --> 00:02:38,919 Another part of the letter d Scent included the following. 49 00:02:39,199 --> 00:02:43,759 The longer we delay, the more investment moves elsewhere, startups 50 00:02:43,840 --> 00:02:48,800 launch overseas, capital flows the jurisdictions with clearer rules, America 51 00:02:48,879 --> 00:02:52,919 loses jobs, innovation, and leadership. This is spot on right. 52 00:02:53,000 --> 00:02:56,120 This is a global competition we are in. And it's 53 00:02:56,159 --> 00:03:00,840 no longer that these developers and engineers need the infrastructure 54 00:03:00,840 --> 00:03:02,680 in the United States. They don't need the bridges and 55 00:03:02,719 --> 00:03:05,759 the tunnels in the roadways. They don't need the internet 56 00:03:05,919 --> 00:03:10,080 broadband right, those things exist globally. We are in a 57 00:03:10,360 --> 00:03:13,639 much different economy. It's all digital. So I can go 58 00:03:13,719 --> 00:03:16,639 to Singapore, I can go to Dubai and build these 59 00:03:16,879 --> 00:03:20,360 companies and these projects, and could I eventually come back 60 00:03:20,360 --> 00:03:22,680 to the United States. Sure, but we want the creation 61 00:03:22,800 --> 00:03:25,199 to happen here. We want the jobs to happen here. 62 00:03:25,479 --> 00:03:28,159 So this is where the United States is in danger 63 00:03:28,199 --> 00:03:30,879 of losing that seat. Yes, we have the advantage of 64 00:03:31,000 --> 00:03:34,240 being the largest capital market. But if I can go 65 00:03:34,280 --> 00:03:38,240 overseas and still raise funds from sovereign wealth funds and others, 66 00:03:38,800 --> 00:03:40,879 I'm still in a good position. It's not like it 67 00:03:41,000 --> 00:03:43,319 was fifty years ago. Right where I want to come 68 00:03:43,360 --> 00:03:45,960 to the United States. I want to be here because 69 00:03:47,080 --> 00:03:50,879 there's more capital here. But now these things have become democratized, 70 00:03:50,879 --> 00:03:53,680 if you want to say that way. There are huge 71 00:03:53,759 --> 00:03:58,240 funds overseas as well. So I think the United States 72 00:03:58,280 --> 00:04:01,439 needs to get this done. I think we're all agreement now. 73 00:04:01,719 --> 00:04:05,639 The banks are still fighting. So the US credit unions, 74 00:04:05,680 --> 00:04:08,800 which of course are working with the community banks, which 75 00:04:08,840 --> 00:04:12,039 are all following the leadership of the American Banking Association, 76 00:04:12,240 --> 00:04:15,759 and of course JP Morgan and Jamie Diamond. They said 77 00:04:15,800 --> 00:04:19,639 that they overall support the clardiac but Warnick could pull 78 00:04:19,759 --> 00:04:23,759 deposits away from local credit unions. So they signed a 79 00:04:23,839 --> 00:04:26,279 letter and they sent it to the Senate. Again, this 80 00:04:26,319 --> 00:04:30,160 is the BS stable coin situation. Remember, a compromise was 81 00:04:30,199 --> 00:04:34,160 reached right, there was an update to this. You guys 82 00:04:34,160 --> 00:04:36,680 recalled before the bill was able to make it out 83 00:04:36,680 --> 00:04:39,079 of the Senate Banking Committee. Now they're asking for more. 84 00:04:39,399 --> 00:04:42,360 So you guys already got your deal, so stop it, right, 85 00:04:42,399 --> 00:04:45,839 But we know they want to control as much as possible. 86 00:04:45,879 --> 00:04:49,079 This is not about deposit flight. This is about bonuses. 87 00:04:49,600 --> 00:04:52,000 This is about over time. People are going to say, 88 00:04:52,160 --> 00:04:54,560 wait a minute, these guys are not paying me, let 89 00:04:54,560 --> 00:04:57,120 me start moving some of my funds. I don't think 90 00:04:57,120 --> 00:04:59,480 everybody's going to move all their funds. I don't even 91 00:04:59,560 --> 00:05:03,519 do that now. I'm an advanced crypto user. But they 92 00:05:03,560 --> 00:05:06,040 don't want to compete, and that's the problem. They want 93 00:05:06,079 --> 00:05:09,199 to keep those big bonuses. But the banking lobby has 94 00:05:09,199 --> 00:05:12,560 a problem because the other Wall Street banks who don't 95 00:05:12,560 --> 00:05:15,959 do commercial banking, you know, black Rock, Goldman, Sachs, Fidelity, Franklin, 96 00:05:15,959 --> 00:05:19,360 Templeton so far, Goldman, Sachs and much more have come 97 00:05:19,360 --> 00:05:21,120 out and said, hey, we got to get this bill 98 00:05:21,199 --> 00:05:24,959 pass right, So Jamie Dimon and some of these guys 99 00:05:24,959 --> 00:05:27,959 here at the ABA looking like fools, so they can 100 00:05:28,040 --> 00:05:30,800 no longer say you know, all the banks are against this. No, 101 00:05:30,920 --> 00:05:33,399 not all of them are against it, so things are 102 00:05:33,439 --> 00:05:35,319 not looking too good for the bank, so I don't 103 00:05:35,360 --> 00:05:37,759 think they have a strong argument. I honestly think the 104 00:05:37,800 --> 00:05:40,839 biggest roadblock is the ethics piece, which as mentioned earlier, 105 00:05:40,879 --> 00:05:43,879 is being worked out with the Democrats and Republicans. Now. 106 00:05:44,240 --> 00:05:47,920 SEC Chair Paul Atkins today was on CNBC and he said, 107 00:05:48,240 --> 00:05:51,839 I'm committed to supporting Congress and advancing the CLARITIAC, including 108 00:05:51,959 --> 00:05:56,079 providing technical assistance. He says American leadership in the digital 109 00:05:56,160 --> 00:06:00,079 finance revolution means matching the energy of American innovators with 110 00:06:00,160 --> 00:06:03,519 a regulatory framework worthy of them. Now, he said, if 111 00:06:03,560 --> 00:06:07,160 the bill doesn't pass, the SEC is ready to get 112 00:06:07,360 --> 00:06:11,360 whatever rules and place they need to make sure the 113 00:06:11,399 --> 00:06:14,079 market has clarity. And we've talked a lot about this. 114 00:06:14,199 --> 00:06:18,519 The CLARITIAC is just a umbrella stamp of approval so 115 00:06:18,560 --> 00:06:22,360 that another administration can't just come in and wipe out 116 00:06:22,439 --> 00:06:24,480 all the work the SEC and the CFTC and other 117 00:06:24,560 --> 00:06:29,000 agencies have done. Obviously, it also gives that assurance to 118 00:06:29,199 --> 00:06:32,319 companies and folks to say, Okay, this is law, we 119 00:06:32,360 --> 00:06:34,920 don't have to worry again about getting sued and all 120 00:06:34,959 --> 00:06:37,319 these things. We can start building. So it is a 121 00:06:37,319 --> 00:06:39,720 bit of a green light, but also it is the 122 00:06:39,800 --> 00:06:43,360 rubber stamp and seal for the future that if another 123 00:06:43,399 --> 00:06:46,120 Gary Ginster in the future pops up, you know, they 124 00:06:46,160 --> 00:06:48,480 can't undo these things. They would have to go through 125 00:06:48,480 --> 00:06:51,639 the legislative process. So great to hear that. And they've 126 00:06:51,639 --> 00:06:54,759 already been doing this right, so I have confidence that 127 00:06:54,800 --> 00:06:57,600 they will continue to do this. And I've had many 128 00:06:57,639 --> 00:07:01,480 guests on the podcast who've echoed these sentiments as well. 129 00:07:01,639 --> 00:07:04,279 So we'll see how it all plays out, folks, But 130 00:07:04,319 --> 00:07:08,199 I believe that with Wall Street, as mentioned yesterday's podcast, 131 00:07:08,199 --> 00:07:12,959 with Wall Street, Goldman Sachs, Blackrock, the world's wealthiest asset managers, 132 00:07:12,959 --> 00:07:15,160 and others calling for the passing, it's going to get 133 00:07:15,160 --> 00:07:17,879 done because when they want something, they usually get it. 134 00:07:18,199 --> 00:07:20,800 Not to mention, it's a midterm election year, so if 135 00:07:20,839 --> 00:07:25,920 these Democrats or even some Republicans play around here, they're 136 00:07:25,920 --> 00:07:28,279 going to feel it in the midterm elections because crypto 137 00:07:28,399 --> 00:07:31,439 is ready to deploy the war chess now. Funny enough, 138 00:07:31,839 --> 00:07:33,800 and we've been seeing a lot of this over the 139 00:07:33,839 --> 00:07:37,240 past few weeks. Russia has been continuing to push their 140 00:07:37,279 --> 00:07:41,319 crypto legislation through. So Russia's Central Bank just publish its 141 00:07:41,399 --> 00:07:45,279 first rules to regulate bitcoin in the crypto market. So 142 00:07:45,360 --> 00:07:48,279 this is of course in direct response to the CLARITIAC 143 00:07:48,680 --> 00:07:50,959 and they're not the only ones. Other countries are putting 144 00:07:50,959 --> 00:07:54,000 forth THEIRS. We know the EU has already passed THEIRS. 145 00:07:54,240 --> 00:07:57,839 The UK they're also pushing a version through their parliament, 146 00:07:57,920 --> 00:08:01,079 so everybody's moving the same direction. My hope is the 147 00:08:01,160 --> 00:08:04,439 United States can be much faster and get this done. Now, 148 00:08:04,439 --> 00:08:06,360 we have some big news coming out of Wall Street 149 00:08:06,399 --> 00:08:09,560 with Morgan Stanley. If you all recall they launched their 150 00:08:09,560 --> 00:08:12,720 Bitcoin etf not too long ago. They were certainly late 151 00:08:12,800 --> 00:08:15,240 to the game, not as late as Vanguard, but it 152 00:08:15,319 --> 00:08:19,199 were certainly one of the laggards amongst the Wall Street firms. 153 00:08:19,759 --> 00:08:22,480 But now they saw the success of the bitcoiningts and 154 00:08:22,480 --> 00:08:28,800 they're launching Ethereum and Solana ETPs. So the competition's heating up. 155 00:08:28,839 --> 00:08:32,320 So this is great to see. So Morgan Stanley Investment 156 00:08:32,360 --> 00:08:36,279 Management has launched Ether and Solana exchange traded products, expanding 157 00:08:36,279 --> 00:08:40,759 its fun lineup beyond Bitcoin. The Morgan Stanley Etheroreum Trust 158 00:08:40,879 --> 00:08:44,399 in Morgan Stanley's Solana Trust seek to track the performance 159 00:08:44,440 --> 00:08:49,000 of Ether and Solana respectively. Both funds carry a zero 160 00:08:49,039 --> 00:08:52,519 point one four percent expense ratio and intend to stake 161 00:08:53,000 --> 00:08:56,559 a portion of their holdings with staking rewards passed through 162 00:08:56,600 --> 00:09:00,639 to investors. Morgan Stanley said it will not reach any 163 00:09:00,759 --> 00:09:05,679 portion of the staking rewards earned earned by either fund. Guys. 164 00:09:06,200 --> 00:09:09,559 This is very competitive, So not only can you get 165 00:09:09,600 --> 00:09:11,919 access to the assets, they're gonna give you the full 166 00:09:11,960 --> 00:09:16,960 staking rewards. Crypto exchanges, native crypto exchanges better wake up. 167 00:09:17,360 --> 00:09:19,919 These big Wall Street firms are coming to take their 168 00:09:19,960 --> 00:09:23,039 market share, steal their lunch, essentially. And we've talked a 169 00:09:23,039 --> 00:09:25,080 lot about it over the years, many of you know, right, 170 00:09:25,080 --> 00:09:28,320 I've been saying if these crypto exchanges don't up their game, 171 00:09:28,440 --> 00:09:30,519 Wall Street's gonna come in and take over. They got 172 00:09:30,559 --> 00:09:34,080 millions of customers, they got the branding, they have the trust, 173 00:09:34,519 --> 00:09:36,759 and a lot of people who don't want to get 174 00:09:36,799 --> 00:09:40,360 involved with private keys and go on crypto exchanges and 175 00:09:40,360 --> 00:09:43,799 deal with crypto walts. You're gonna say, man, i'mm already 176 00:09:43,840 --> 00:09:47,879 investing with Mortgan Stanley on stocks, bonds and ets. Sign 177 00:09:47,919 --> 00:09:51,960 me up for your crypto products, right. It's an easy sell, folks, 178 00:09:52,039 --> 00:09:55,159 and plus you're gonna get the yield the staking rewards 179 00:09:55,200 --> 00:09:58,799 so huge. You're getting the full amount, which is wild. 180 00:09:59,519 --> 00:10:02,440 So the law Munch follows Morgan Stanley's rollout of Spot 181 00:10:02,440 --> 00:10:05,960 cryptocurrency trading on its e trade platform earlier this month, 182 00:10:06,240 --> 00:10:09,559 allowing eligible clients to buy, sell, and whole bitcoin, Ether, 183 00:10:09,639 --> 00:10:15,519 and Solana through a partnership with crypto infrastructure providers zero Hash. Folks, 184 00:10:15,919 --> 00:10:19,039 you see what's happening here. So wait till we enter 185 00:10:19,159 --> 00:10:22,200 back into a bull market. You think these guys are 186 00:10:22,200 --> 00:10:24,519 gonna want to see these products fail. They're going to 187 00:10:24,799 --> 00:10:27,159 pump this thing to the moon. So this is where 188 00:10:27,159 --> 00:10:29,519 you got to have the patience. You know how Wall 189 00:10:29,519 --> 00:10:32,879 Street works, guys, and it's great again. The staking component 190 00:10:33,039 --> 00:10:35,799 is huge. And check out our sponsor here. 191 00:10:36,200 --> 00:10:39,879 Speaker 2: This episode is brought to you by Fortax. Guys. Let's 192 00:10:39,919 --> 00:10:43,080 be honest. The crypto market has been moving sideways for 193 00:10:43,120 --> 00:10:45,720 a while now. A lot of people are just sitting 194 00:10:45,720 --> 00:10:48,519 on their coins waiting for the next big move. But 195 00:10:48,679 --> 00:10:51,840 while you're waiting, your crypto is just sitting in your 196 00:10:51,879 --> 00:10:55,519 wallet doing absolutely nothing. That's why I want to mention 197 00:10:55,639 --> 00:10:59,759 one of my longtime partners, Fortax. Instead of just letting 198 00:10:59,799 --> 00:11:03,279 your assets sit idle, you can put supported cryptocurrencies into 199 00:11:03,360 --> 00:11:07,759 fortestx liquidity pools and earn daily rewards while still keeping 200 00:11:07,799 --> 00:11:11,399 the flexibility to withdraw whenever you want. One of the 201 00:11:11,440 --> 00:11:14,759 reasons I've continued working with them is because they keep delivering. 202 00:11:15,120 --> 00:11:19,480 The team is public, they've successfully completed Cyberscope team verification, 203 00:11:19,679 --> 00:11:24,399 KYC past independent security audits, and the platform has been 204 00:11:24,440 --> 00:11:28,399 building consistently for years. They've focused on long term growth, 205 00:11:28,440 --> 00:11:32,120 transparency and security rather than hype. In a market like this, 206 00:11:32,399 --> 00:11:35,159 it makes far more sense to have your crypto working 207 00:11:35,200 --> 00:11:38,320 for you instead of letting it sit idle in your wallet. 208 00:11:38,600 --> 00:11:40,919 I've worked with fortest x for a long time, and 209 00:11:40,960 --> 00:11:44,000 if you're planning to hold your crypto anyway, I genuinely 210 00:11:44,080 --> 00:11:46,600 think it's one of the smartest ways to put those 211 00:11:46,679 --> 00:11:49,320 assets to work. And folks, I know security is very 212 00:11:49,320 --> 00:11:51,240 important to all of us as we hold our crypto 213 00:11:51,279 --> 00:11:54,679 assets and they are fully audited by certic and they 214 00:11:54,679 --> 00:11:57,480 are sec registered and much more so. You've got to 215 00:11:57,559 --> 00:12:01,840 check out fordax. Go to fordest x slash x slash 216 00:12:01,840 --> 00:12:04,360 thinking crypto link will be in the description. 217 00:12:04,639 --> 00:12:08,279 Speaker 1: All right, moving ahead. Visa outlines stable coin strategy during 218 00:12:08,360 --> 00:12:11,759 Q three earnings call, so Visa and all the major 219 00:12:11,799 --> 00:12:15,720 payment companies like MasterCard and others. They continue to invest 220 00:12:15,759 --> 00:12:20,000 in stable coins and blockchain technology, so during their company's 221 00:12:20,080 --> 00:12:23,559 earnings call, Visa outline its broader stable coin strategy, saying 222 00:12:23,600 --> 00:12:27,240 it has been investing across multiple layers of the stable 223 00:12:27,240 --> 00:12:31,120 coin ecosystem. The company said, we are active in investing 224 00:12:31,120 --> 00:12:34,320 in each layer of the stable coin stack, from blockchain 225 00:12:34,399 --> 00:12:39,919 to issuance, wallets, infrastructure and orchestration and applications. This quarter, 226 00:12:40,039 --> 00:12:44,840 we've made progress in both issuance and application layers incredible. 227 00:12:44,960 --> 00:12:48,879 Visa added that it had joined the Open Standard Consortium, 228 00:12:49,120 --> 00:12:52,519 which plans to issue the open us the stable coin 229 00:12:52,600 --> 00:12:55,240 for global money movement. Many of you may recall that 230 00:12:55,399 --> 00:12:59,440 was launched like last month, I believe OUSD or OPENUSD. 231 00:12:59,559 --> 00:13:03,159 It's a soortium stable coin. The company said. The Visa 232 00:13:03,200 --> 00:13:06,679 stable coin platform is designed to enable partners to settle 233 00:13:06,720 --> 00:13:10,399 with Visa in stable coins, provide on chain wallet as 234 00:13:10,480 --> 00:13:14,399 a service infrastructure, and move money between fiat currencies and 235 00:13:14,440 --> 00:13:19,240 stable coins. Beginning with OPENUSD Huge Huge, they are also 236 00:13:19,320 --> 00:13:24,440 going to integrate Pismo to support tokenized deposits. So, if 237 00:13:24,440 --> 00:13:28,200 you know a cryptoskeptic, a blockchain skeptic. Send them this 238 00:13:28,360 --> 00:13:32,120 news guys, because I'm sure they have a Visa credit 239 00:13:32,159 --> 00:13:36,480 card somewhere or they've used Visa at some point. Ask 240 00:13:36,559 --> 00:13:39,279 them what they think about this news. Right. This is 241 00:13:39,279 --> 00:13:41,200 where I think a lot of people need to see 242 00:13:41,200 --> 00:13:44,799 the real world utility versus just this speculation of the coins, 243 00:13:45,120 --> 00:13:48,080 which is fine. Every market has a speculation layer, but 244 00:13:48,080 --> 00:13:50,600 they need to see the utility, the use cases like this, 245 00:13:51,159 --> 00:13:55,000 and the actual tangible building that's happening. All right, Moving ahead, 246 00:13:55,080 --> 00:14:00,840 American Fortress proposes Quantum Save crypto wallet protection without migration. 247 00:14:01,519 --> 00:14:06,279 The proposed cryptographic scheme aims to protect existing Bitcoin, Etherorem 248 00:14:06,320 --> 00:14:10,320 and Solana wallets from future quantum attacks without requiring users 249 00:14:10,399 --> 00:14:13,559 to move funds or change wallet addresses. So we see 250 00:14:13,600 --> 00:14:17,039 everyone has a quantum resistance strategy, and wallets are going 251 00:14:17,080 --> 00:14:18,919 to have to be a big part of that because 252 00:14:19,399 --> 00:14:24,360 crypto wallets are going to get attacked, crypto apps, crypto websites, exchanges, 253 00:14:24,399 --> 00:14:26,440 and much more so everyone's going to have to have 254 00:14:26,600 --> 00:14:29,879 some sort of quantum resistance strategy. So great to see 255 00:14:29,879 --> 00:14:32,639 all these things are being built. Now we'll see who 256 00:14:32,679 --> 00:14:36,840 the winners are and who builds the appropriate technology to 257 00:14:36,919 --> 00:14:40,720 be able to safeguard your funds, and I'm sure all 258 00:14:40,759 --> 00:14:42,360 of Wall Street is going to have to do this. 259 00:14:42,799 --> 00:14:45,440 Quantum is not just a threat to crypto, it's a 260 00:14:45,480 --> 00:14:49,399 threat to the banking system, the air traffic controls system, everything. 261 00:14:49,519 --> 00:14:53,399 So quantum computers and all this technology is going to 262 00:14:53,480 --> 00:14:57,000 have to be integrated into tech stack in every industry, 263 00:14:57,120 --> 00:14:59,720 doesn't matter if you're dealing with AI or crypto, whatever. 264 00:14:59,759 --> 00:15:02,519 It may be a robotics, right, I mean, you can 265 00:15:02,559 --> 00:15:06,360 imagine the problem with humanoid robots and quantum computers. So 266 00:15:07,240 --> 00:15:11,159 we're gonna have bigger problems if quantum becomes this bigger thing. 267 00:15:11,559 --> 00:15:15,480 It's not there yet, but he will eventually. So, Unlike 268 00:15:15,679 --> 00:15:20,399 most proposed post quantum approaches, American Fortress said its scheme 269 00:15:20,559 --> 00:15:26,320 allows existing wallet addresses to remain unchanged while adding post 270 00:15:26,440 --> 00:15:30,440 quantum protection. That's pretty good. The company published the proposal 271 00:15:30,559 --> 00:15:35,399 in a technical paper on the Cryptography ePrint Archive, describing 272 00:15:35,440 --> 00:15:40,879 the scheme as compatible with seed based hierarchical If I'm 273 00:15:40,919 --> 00:15:45,200 saying that right, deterministic wallets based or used across Bitcoin 274 00:15:45,279 --> 00:15:48,200 e theorem, Salon and other blockchain networks that rely on 275 00:15:48,440 --> 00:15:53,039 elliptic curve cryptography. The paper has not yet been peer reviewed, 276 00:15:53,360 --> 00:15:55,519 so you can see we're still in that conception phase. 277 00:15:55,600 --> 00:15:57,919 But it has to start somewhere. The ball has to 278 00:15:57,919 --> 00:16:01,559 get rolling because this will be a threat possibly in 279 00:16:01,600 --> 00:16:05,519 five years time as the technology gets more sophisticated. But 280 00:16:06,159 --> 00:16:09,200 great to see a lot of folks and multiple fronts 281 00:16:09,240 --> 00:16:13,639 are preparing for this now. Speaking of preparedness. Crypto hack 282 00:16:13,879 --> 00:16:17,720 hits record high in H one first half of twenty 283 00:16:17,759 --> 00:16:22,399 twenty six as losses top one billion dollars. Blockade says, 284 00:16:22,399 --> 00:16:24,360 so you've got to be careful out there, folks. A 285 00:16:24,399 --> 00:16:27,320 lot of people still trying to steal your crypto. I 286 00:16:27,360 --> 00:16:30,440 often state, you know, store your crypto and hardware wallet, 287 00:16:30,480 --> 00:16:32,960 I use the treasure devices. If you want to get one, 288 00:16:33,000 --> 00:16:36,440 links will be in a description, and you know if 289 00:16:36,480 --> 00:16:38,679 you are going to put your crypto in some exchanges, 290 00:16:38,799 --> 00:16:41,120 make sure they have insurance. Make sure you're using all 291 00:16:41,159 --> 00:16:44,960 the appropriate safeguards. You're not using easy passwords, You're not 292 00:16:45,039 --> 00:16:47,600 using maybe a public email to access, maybe it's an 293 00:16:47,639 --> 00:16:51,519 email that you have never shared with anybody else. You 294 00:16:51,639 --> 00:16:55,279 have authentication apps, all the different layers you need to 295 00:16:55,279 --> 00:16:58,519 make sure you put into place, because you know people 296 00:16:58,559 --> 00:17:01,639 are going to use different ways to try to, you know, 297 00:17:01,840 --> 00:17:04,880 steal your funds, like social engineering and much more so. 298 00:17:04,960 --> 00:17:09,000 Blockade called H one twenty six the most hacked half 299 00:17:09,160 --> 00:17:12,880 year on record, although last year total losses came in 300 00:17:12,960 --> 00:17:15,680 higher due to the one point five billion dollars by 301 00:17:15,720 --> 00:17:20,400 bit hacked. According to Blockade, DPRK hackers were responsible for 302 00:17:20,440 --> 00:17:24,599 the largest share of money stolen, totaling nearly six hundred 303 00:17:24,640 --> 00:17:28,279 million dollars. Similar attacks will likely continue to Firm said. 304 00:17:28,640 --> 00:17:31,839 Looking ahead, the report predicts the number of artificial intelligence 305 00:17:31,880 --> 00:17:35,559 related exploits will likely increase in the coming months. I 306 00:17:35,599 --> 00:17:40,000 often state guys, don't trust, verify, double check everything, watch 307 00:17:40,079 --> 00:17:43,319 the emails that you're getting. Don't get emotional if you 308 00:17:43,319 --> 00:17:46,319 see something your funds are gone or whatever. Don't panic. 309 00:17:46,319 --> 00:17:48,559 You get a text, you get a call, don't panic. 310 00:17:48,680 --> 00:17:51,400 Take a deep breath and slow down and just double check. 311 00:17:51,680 --> 00:17:53,519 Because you may get a text or an email, but 312 00:17:53,640 --> 00:17:56,200 you know it's fake. It's better you go directly to 313 00:17:56,240 --> 00:17:59,960 the site and check and verify did I actually lose 314 00:18:00,119 --> 00:18:03,640 my funds? Is something really happen? Right? Because oftentimes as 315 00:18:03,720 --> 00:18:06,039 human beings, we get those things and we're like, oh 316 00:18:06,039 --> 00:18:07,920 my gosh, I list lot my crypto. But if you 317 00:18:08,039 --> 00:18:10,839 step back for a second and slow down, you know, 318 00:18:10,880 --> 00:18:14,160 the emotional control, the mental control can help you to 319 00:18:14,359 --> 00:18:18,759 not make rash decisions, right because these messages and emails 320 00:18:18,759 --> 00:18:22,319 are you know, meant to evoke emotions, strong emotions and panic, 321 00:18:22,720 --> 00:18:25,319 so you don't want to have that happen. The other thing, 322 00:18:25,359 --> 00:18:28,319 you know, watch out for different plugins that you use 323 00:18:28,880 --> 00:18:31,400 on your browsers and much more, because if you use 324 00:18:31,559 --> 00:18:34,640 the wrong plugin or even the wrong app, obviously, you 325 00:18:34,640 --> 00:18:37,279 can lose your funds. So just double check everything, guys, 326 00:18:37,559 --> 00:18:40,440 even triple check it, you know what I mean. Sometimes 327 00:18:40,440 --> 00:18:45,319 it's best to even if you download something, don't execute 328 00:18:45,400 --> 00:18:48,960 the setup right away. Maybe come back to it in 329 00:18:49,000 --> 00:18:52,079 an hour or a day later, right unless you're in 330 00:18:52,160 --> 00:18:55,920 some sort of emergency, obviously, but take your time as 331 00:18:56,000 --> 00:18:59,440 the point, so that you're not rushing. Because these guys 332 00:18:59,440 --> 00:19:02,039 are getting more sophisticated, they're going to use AI and 333 00:19:02,160 --> 00:19:04,160 much more. But that's where if you're using a hardware 334 00:19:04,240 --> 00:19:06,480 wallet where you control the private keys, it's in a 335 00:19:06,559 --> 00:19:10,960 safe or a safety deposit box or whateverever you store it. 336 00:19:10,960 --> 00:19:16,240 It's it's that's a really strong way to control your assets. Obviously, 337 00:19:16,240 --> 00:19:18,519 if you use an ETF, you don't have to worry 338 00:19:18,559 --> 00:19:20,799 about this. You know, we talked about the Morgan Stanley 339 00:19:20,799 --> 00:19:24,720 ETF and all these things. But I like the ability 340 00:19:24,759 --> 00:19:29,240 to control my funds and I personally use a hardware wallup. Obviously, 341 00:19:29,240 --> 00:19:31,599 I have, you know, some funds and exchanges that I 342 00:19:31,680 --> 00:19:34,599 use for swing training, but the majority are stored on 343 00:19:34,599 --> 00:19:37,880 a hardware wallup. So guys, please be careful and double 344 00:19:37,960 --> 00:19:42,319 check everything. Once again, don't trust verify folks. That's the news. 345 00:19:42,559 --> 00:19:44,079 Let me know what you think. Leave your thoughts and 346 00:19:44,119 --> 00:19:46,759 comments below. Hit the thumbsup button. Subscribe if you haven't 347 00:19:46,759 --> 00:19:50,200 as yet, please support the podcast by subscribing to my 348 00:19:50,279 --> 00:19:52,920 free email news that are on Substack. It's one hundred 349 00:19:52,960 --> 00:19:55,559 percent free. Grab a copy of my book. It's available 350 00:19:55,599 --> 00:19:58,759 on Amazon in paperback and digital, and check out my 351 00:19:58,880 --> 00:20:01,480 course at my Crypto course dot com. This is a 352 00:20:01,519 --> 00:20:03,880 comprehensive course that teaches you everything you need to know 353 00:20:03,960 --> 00:20:06,839 about blockchain and crypto technology. All the links will be 354 00:20:06,880 --> 00:20:08,920 in the description. Thank you so much for tuning in. 355 00:20:08,960 --> 00:20:11,920 I appreciate you all, and I'll talk to you all later.