WEBVTT

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<v Speaker 1>Is Ripple the one holding up the SEC's decision on

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<v Speaker 1>the XRP case. I'll share what some attorneys are saying.

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<v Speaker 1>And Ripple releases its first r l USD stable coin

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<v Speaker 1>attestation report, I'll share the details with you. Let's get

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

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<v Speaker 1>your home for cryptocurrency news and interviews. I'm your host,

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<v Speaker 1>Tony Edward. On your way in to Please let that

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<v Speaker 1>subscribe button as well as the thumbs up button and

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

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

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<v Speaker 1>star rating and review. Folks, let's quickly take a look

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<v Speaker 1>at Bitcoin, because we're seeing some signs of a bottom here,

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<v Speaker 1>as I mentioned yesterday's podcast. Still we need full confirmation.

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<v Speaker 1>This is too early to say this thing is in

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<v Speaker 1>a V shape recovery. It's too early to say that.

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<v Speaker 1>But I like what I'm seeing with the RSI and

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<v Speaker 1>the over soul zone. Global liquidity is on the rise,

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<v Speaker 1>and Bitcoin not breaking key support levels that invalidate the

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<v Speaker 1>bull market, and it is simply bouncing off that two

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<v Speaker 1>hundred day moving average, which is very good, and we

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<v Speaker 1>just have to be patient. And let it play out.

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<v Speaker 1>I think maybe in another week or so we could

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<v Speaker 1>start to see some strength and that will be very good. Here,

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<v Speaker 1>analyst Cryptoberb highlighted that bitcoin the RSI is at the

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<v Speaker 1>most over sod level since August of twenty twenty three.

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<v Speaker 1>So this is a strong indication that the bottom is

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<v Speaker 1>in or very close, and eventually the sellers are going

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<v Speaker 1>to get exhausted. A lot of short sellers are going

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<v Speaker 1>to put their shorts in, and then there will be

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<v Speaker 1>a short squeeze and of course Bitcoin moves the market

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<v Speaker 1>and all coins will follow. Now some other indications that

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<v Speaker 1>the bottom is in and people are buying the dips.

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<v Speaker 1>US spot bitcoin ets recorded the first day of net

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<v Speaker 1>positive inflows after shedding twenty billion dollars in overall value.

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<v Speaker 1>So during this correction period we saw a lot of outflows,

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<v Speaker 1>but that trend has paused and it's now flipped to

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<v Speaker 1>more in Now. The thing to remember here is that

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<v Speaker 1>bitcoin ETFs are going to rebalance because you have a

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<v Speaker 1>variety of investors who are holding these ETFs, and many

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<v Speaker 1>are going to want to take profits. It's not something

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<v Speaker 1>that black Rock or Fidelity and these other issuers can control.

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<v Speaker 1>If the client wants their money. They want their money. However,

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<v Speaker 1>what you want to look at is the overall trend.

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<v Speaker 1>Are a lot of people exiting, and it wasn't a

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<v Speaker 1>lot of people exiting. When you look at the overall

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<v Speaker 1>chart from when this thing was launched, it's a tiny blip, right,

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<v Speaker 1>a little bit of a dip, and now we got

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<v Speaker 1>the inflows coming in. So this is a good sign, guys.

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<v Speaker 1>It's not the strongest signal, but it's a good sign. Again.

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<v Speaker 1>You put together all these puzzle pieces and you see

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<v Speaker 1>the thesis that's forming here that the bottom is in

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<v Speaker 1>or very near now. Yesterday I told you guys about

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<v Speaker 1>the White House has a Crypto Summit, the first ever

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<v Speaker 1>cryptois summit that will be held in this upcoming Friday,

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<v Speaker 1>March seventh, and Eleanor Turriot of Fox Business gave the

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<v Speaker 1>additional details here. She said Friday's White House Cryptos Summit

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<v Speaker 1>will be the first any series of confabs designed to

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<v Speaker 1>replace the previous proposed Crypto Advisory Council as a way

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<v Speaker 1>for their President's Working Group on Digital Assets to collaborate

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<v Speaker 1>with the industry on policy making. For Fridays, gathering a

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<v Speaker 1>list of around twenty five invitees has been finalized. I'm

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<v Speaker 1>told unclear at the moment who is on the list,

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<v Speaker 1>more as I get it, so we should probably get

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<v Speaker 1>some details early next week as to who's going to

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<v Speaker 1>be attending. But it sounds like instead of doing that

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<v Speaker 1>advisory council, they are leaning more towards these summits, which

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<v Speaker 1>is fine as long as the dialogue and these meetings

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<v Speaker 1>are happening. It's all good because we have the people

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<v Speaker 1>in place to do these things, like David Sachs, bo

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<v Speaker 1>Heinz and so forth right. David Sacks, of course is

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<v Speaker 1>the White House. Cryptos are so all of this vodes

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<v Speaker 1>well for crypto and will lead to crypto legislation, more clarity,

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<v Speaker 1>and it also it's just a big signal for investors

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<v Speaker 1>overall that crypto's here to stay in the government is

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<v Speaker 1>backing it now. Quick word from our sponsor, and that

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<v Speaker 1>is Propy. Propy is leading to charge with putting real

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<v Speaker 1>estate on chain. I've been a Propy token holder since

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<v Speaker 1>twenty eighteen twenty nineteen ish around that time because I

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<v Speaker 1>saw them being the leader in getting real estate on

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<v Speaker 1>the blockchain, and through Propy you can buy and sell

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<v Speaker 1>real estate with crypto guys. It's amazing and their platform

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<v Speaker 1>allows you to do a lot of stuff because it's

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<v Speaker 1>on the blockchain that you don't even need to be

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<v Speaker 1>in person to do a lot of these things. And

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<v Speaker 1>it's a very fast process. And you know, they are

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<v Speaker 1>a licensed Web three pioneer. They've been operating since twenty seventeen.

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<v Speaker 1>They've facilitated over four billion dollars in transactions, and they're

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<v Speaker 1>putting titles and deeds on the blockchain and for the purchasing,

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<v Speaker 1>the buying and selling of a property, they use coinbase

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<v Speaker 1>for the crypto escrow service. So Propy is doing amazing things, guys.

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<v Speaker 1>And we all know the future of the markets and

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<v Speaker 1>the economy will be running on blockchain and everything will

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<v Speaker 1>be tokenized, including real estate. So this is why I'm

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<v Speaker 1>very bullish and Propy and like I said, I'm a

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<v Speaker 1>token holder, been for years. And they have a great

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<v Speaker 1>if you'd like to learn more, guys, check out the

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<v Speaker 1>links in the description. Okay, let's talk about the sec

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<v Speaker 1>ripple case. Many folks are growing impatient wondering why is

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<v Speaker 1>there no updates around the SEC Ripple XRP case. And

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<v Speaker 1>this past week we saw the SEC drop a ton

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<v Speaker 1>of cases. We're talking coin based, robinhood, unit swap. The

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<v Speaker 1>list goes on and on, right, But the Ripple case

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<v Speaker 1>is very complex. It was further along than any other

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<v Speaker 1>crypto case out there where you had a judge's ruling.

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<v Speaker 1>You obviously had a split decision where the SEC won

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<v Speaker 1>one part of the lawsuit while Ripple one with the

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<v Speaker 1>other part of the lawsuit. So it was a split decision, right,

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<v Speaker 1>But overall, the big victory was XRP was declared intrinsically

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<v Speaker 1>not a security. And I want to share what metlaw

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<v Speaker 1>Man I also known as James Murphy had to say

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<v Speaker 1>about it. And I've had James on the podcast many times.

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<v Speaker 1>Very smart guy. He said, I have a theory about

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<v Speaker 1>the SEC's unexplained delay in dismissing the Ripple case. It

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<v Speaker 1>might not be the SEC. It could be that Ripple

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<v Speaker 1>is negotiating hard to get the SEC to agree to

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<v Speaker 1>vacate some or all of Judge Torus's decision. The Torres

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<v Speaker 1>decision was unquestionably great for XRP holders, but A the

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<v Speaker 1>finding of securities law violations and b injunction with attendant

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<v Speaker 1>bad boy provisions are not so great for Ripple, so obviously,

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<v Speaker 1>on the institutional side, ripple loss. James says. This is

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<v Speaker 1>particularly true if Ripple is considering a future exempt securities

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<v Speaker 1>offering or IPO. I believe the SEC would have accepted

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<v Speaker 1>a settlement where both sides dismissed their appeals and the

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<v Speaker 1>SEC takes the one hundred and twenty five million dollars

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<v Speaker 1>penalty in a heartbeat. So it makes sense to me

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<v Speaker 1>at least that Ripple could be negotiating for a better

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<v Speaker 1>deal than that. This is all peer speculation on my part.

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<v Speaker 1>I could be wrong, wouldn't be the first time, he says.

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<v Speaker 1>Note it is far from a sure thing that if

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<v Speaker 1>federal judge would agree to vacate a prior ruling as

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<v Speaker 1>part of a settlement. This was fairly commonplace several years

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<v Speaker 1>ago when I started in the law businesses, but judges

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<v Speaker 1>started balking at this in more recent times. So this

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<v Speaker 1>I think is a valid theory. It could be that

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<v Speaker 1>Ripple is really trying to negotiate to get a lot

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<v Speaker 1>of the things they lost on to be removed but

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<v Speaker 1>who knows, right, But this is certainly a plausible theory.

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<v Speaker 1>And yesterday's podcast, I said, look, don't be dismayed. This

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<v Speaker 1>thing is in progress. We know the SEC's acting in

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<v Speaker 1>good faith. Now you get hester Purse, the Crypto Task Force,

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<v Speaker 1>they're dropping cases right, and that even if this takes

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<v Speaker 1>a little bit longer, that's okay. We know it's coming,

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<v Speaker 1>and I would prefer it to come when the prices

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<v Speaker 1>are moving upward again. Right now, if the news broke

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<v Speaker 1>that ripple and SEC is dismissing this thing or whatever,

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<v Speaker 1>it wouldn't do much to the SRP price because we've

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<v Speaker 1>been in a down trend and we're in a chop

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<v Speaker 1>consolidation zone, right, So you have to understand the market cycles.

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<v Speaker 1>People often don't understand that aspect. They just think, oh,

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<v Speaker 1>here's positive news, it must pump. No, that is a

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<v Speaker 1>very emotional take versus look at the data. Where are

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<v Speaker 1>we in the market cycle? Right? And that's important. So

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<v Speaker 1>when Bitcoin starts his V shaped recovery and the liquidity

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<v Speaker 1>starts pulling the alts with it and XRP is starting

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<v Speaker 1>to move, that's when I want the news to come out.

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<v Speaker 1>But you know, we don't know for sure, but this

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<v Speaker 1>is a plausible theory here by James Murphy and attorney

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<v Speaker 1>John Deeton weighed in on it, saying it's a solid theory.

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<v Speaker 1>So let's see, guys, don't be impatient here. Remember this

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<v Speaker 1>case is much more complex and it could be Ripples

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<v Speaker 1>trying to get a lot of things removed before they

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<v Speaker 1>go forth and say, hey, we'll pay our fine, but

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<v Speaker 1>we want all these other things taken care of as well.

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<v Speaker 1>So we really got to be patient here, guys. Now,

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<v Speaker 1>on the new out of Ripple's new stable coin, r

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<v Speaker 1>l USD, which just launched in January, they have released

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<v Speaker 1>an independent attestation. So Jack McDonald of Ripple, who I've

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<v Speaker 1>had on the podcast many times, he said, like clockwork,

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<v Speaker 1>the January independent attestation for r l USD is live.

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<v Speaker 1>Some notable stats our LUSD hit seven point three five

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<v Speaker 1>billion dollars in trading volume on the XRP Ledger and

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<v Speaker 1>on Ethereum in the first sixty days of being live,

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<v Speaker 1>significantly higher volume compared to many others, and became available

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<v Speaker 1>on zero hash and revolute. So for those of you

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<v Speaker 1>who don't know, this stable coin is on the XRP

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<v Speaker 1>Ledger and on Ethereum because Ethereum has a huge network,

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<v Speaker 1>so smart move. I think they should also look at

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<v Speaker 1>expanding to other blockchains, but I'm sure that will come

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<v Speaker 1>in new time. Jack continues, saying, our LUSD remains over reserved.

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<v Speaker 1>We hold seven million dollars more in reserves than the

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<v Speaker 1>total r l USD supply, which is approximately one hundred

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<v Speaker 1>and thirty million dollars. He says, we're seeing increasing inbound

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<v Speaker 1>interest on using our LUSD for on chain collateralization for

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<v Speaker 1>tokenized assets. Lots of possibilities here, and they provided a

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<v Speaker 1>full report. Guys. I love this. This is what every

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<v Speaker 1>stable coin issuer needs to do. And we need transparency,

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<v Speaker 1>we need audits and much more. That's so important. So

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<v Speaker 1>they gave the full rundown here. I love it. This

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<v Speaker 1>is really great and you guys can, of course go

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<v Speaker 1>take a look at this. So really great to start

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<v Speaker 1>for Ripple, And as I've stated before, they already have

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<v Speaker 1>a huge network of financial institutions they work with globally.

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<v Speaker 1>It's going to be easy for them to come present

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<v Speaker 1>our LUSD to many of their clients and have them

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<v Speaker 1>use it. And I know some people are going to say, well,

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<v Speaker 1>how does this benefit XRP. Well, it goes back to

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<v Speaker 1>network effects, right. I've often talked about the principle of

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<v Speaker 1>metcaps law, and that is the more participants on a network,

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<v Speaker 1>the more users, the more stronger the network becomes, and

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<v Speaker 1>the more valuable becomes and of course the native token

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<v Speaker 1>on these blockchains becomes more valuable. Look at what ICOS

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<v Speaker 1>and NFTs did for Etherreum, right, So this is only

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<v Speaker 1>going to help the value of the XRP ledger and

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<v Speaker 1>create new use cases and much more so. As you

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<v Speaker 1>guys know, I hold XRPM, bullish on it, but I'm diversified.

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<v Speaker 1>I hold Ethereum, Bitcoin, Salona, and others. But great to

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<v Speaker 1>see progress is being made here and I love the

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<v Speaker 1>transparency that they're providing. Now, speaking of Ethereum, we got

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<v Speaker 1>news that Etherum Foundation has officially announced new leaderships. So

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<v Speaker 1>I'm not sure how many of you knew about this news,

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<v Speaker 1>but the Ethereum Foundation for months has come under a

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<v Speaker 1>lot of criticism in a way they've been handling things

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<v Speaker 1>and looks like they're bringing in someone news. So the

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<v Speaker 1>Ethereum Foundation has announced a new leadership structure consisting of

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<v Speaker 1>two co directors of the foundation. Oh my gosh, I

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<v Speaker 1>don't know if I could pronounce this name. OsO Wei Wang,

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<v Speaker 1>I probably butchered that. A core researcher at the Etherorem Foundation,

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<v Speaker 1>and Thomas Stansak, the CEO of Nethermind, one of the

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<v Speaker 1>largest execution clients on Etherorem. According to a March first announcement,

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<v Speaker 1>Wang has seven years of experience as a researcher at

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<v Speaker 1>the Theorem Foundation, and Stanzac has proven leadership in scaling

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<v Speaker 1>an organization from an early stage project to a global company.

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<v Speaker 1>Wang and Stanzac will assume their roles as co directors

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<v Speaker 1>of the Foundation on March seventeen. I guess this is good.

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<v Speaker 1>We'll see what happens. But let's see if they can

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<v Speaker 1>write the ship here and a lot of the criticisms

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<v Speaker 1>can be resolved, you know, the issues can be resolved,

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<v Speaker 1>I should say, and the Ethereum Foundation can get their

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<v Speaker 1>house in order, and well, let's see. I think they'll

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<v Speaker 1>be fine, honestly, And I think things like staking being

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<v Speaker 1>added to the Etherorem metf are really going to help

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<v Speaker 1>the Ethereum price to move in this bull market as

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<v Speaker 1>it continues. But we got to be patient. But guys,

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<v Speaker 1>that's the news. Not too much but interesting news around

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<v Speaker 1>the Ripple Case I wanted to share with you all,

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<v Speaker 1>and a great way you can support me in the

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<v Speaker 1>podcast is by subscribing to my free email newsletter. It's

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<v Speaker 1>on Substack. Check out my book on Amazon. It's available

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<v Speaker 1>in paperback and digital. And also, if you want to

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<v Speaker 1>expand your crypto knowledge, check out my new course at

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<v Speaker 1>Mycrypto course dot com. This is a comprehensive course that

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<v Speaker 1>covers every aspect of the crypto market, and best of all,

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<v Speaker 1>it features expert commentary. No other crypto course out there

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<v Speaker 1>offers this. You will hear from founders, CEOs, institutional investors,

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<v Speaker 1>and many others. They are going to break down the

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<v Speaker 1>different aspects of crypto for you. So it includes videos,

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<v Speaker 1>full text write ups, downloadable materials and more. Pay a

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<v Speaker 1>one time fee get lifetime access. Go at your own pace.

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<v Speaker 1>You could share to log in with your friends and

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<v Speaker 1>family if you want so. If you'd like to learn more,

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<v Speaker 1>go to Mycrypto Course dot com. Link will be in

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<v Speaker 1>the description. Guys, thank you for watching and listening. I

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

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<v Speaker 1>Eighty eight