Latest / The Paul Barron Crypto Show / The Most Important Crypto Vote is Today!!! with Jackie Dutton

Transcript

The Most Important Crypto Vote is Today!!! with Jackie Dutton · The Paul Barron Crypto Show

• 0:07
  This week continues to be on edge right now with crypto bills and all sorts
• 0:13
  of legislation starting to hit the deck. We'll break it all down for you
• 0:16
  and also give you an insight as to how this might actually affect Web three
• 0:21
  Mean coins and a whole lot of the rest of the crypto market. My
• 0:25
  name is Paul Barrel. Welcome back in a tech path. I do want
• 0:27
  to thank our sponsor today, and that is Wilder World. If you guys
• 0:30
  are not already watching this project, and you should be, make sure and
• 0:35
  check out their Epic Game Store. This is something where you can go in
• 0:38
  and actually wish list this right now. And if we get some clarity on
• 0:43
  especially on this fit one one bill or the fit bill Fit twenty one versus
• 0:47
  SABEE, if we get some clarity on that, then we're going to see
• 0:52
  some potential I think fireworks in this area. So check it out. I'll
• 0:55
  go over to the Epic Game Store. We'll leave some links down below for
• 0:58
  you guys. All right, let's get in to it today. Of course
• 1:00
  I want to intro in and bring back in Miss Jackie Dunn. Always love
• 1:03
  to have you. How are you. I'm good, you know it's either
• 1:08
  on fire in a bad way or on fire in a good way. I
• 1:11
  feel like this week's on fire in a good way. Yeah, for sure.
• 1:15
  Well, a lot happened, I think really over the past three weeks
• 1:18
  there's been some big acceleration, you know, on the regulatory front. Here's
• 1:21
  a sweet by Ron Hammond. Finally, this is the week after several years
• 1:25
  doesn't of bills, multitude of hearings, no kidding, But now we're going
• 1:30
  to see a potential debate on Wednesday, and after that they'll be able to
• 1:34
  go in and vote basically on the new FIT twenty one bill, which has
• 1:38
  a lot of parameters that are good for crypto in general. I think it
• 1:42
  also brings the United States up to the front of everything in terms of opportunity.
• 1:48
  First of all, Jackie, you saw skyrocket just on the hint of
• 1:53
  a potential ETF. Now you've got the FIT twenty one bill coming in with
• 2:00
  a potential passage. Now with DEM's joining, what do you think about all
• 2:02
  this? Do you think this is still bullish? Bullish? What's your thought?
• 2:07
  I think it's very bullish. I think they'd kind of beat down everybody's
• 2:10
  hopes for a while and everybody just expected it to be denied based on all
• 2:16
  the Wells notices and consensus going at it. So I think this is good
• 2:21
  news. Yeah. Well, there's a couple of things I think that are
• 2:23
  starting to shift the tide here. One is the awareness of some of Congress
• 2:30
  members that have started to realize, hey, there's a lot of innovation here
• 2:34
  that's happening. We don't need to shut it out. Here was a piece
• 2:38
  of course, to avoid danger, US must lead crypto and blockchain, and
• 2:42
  this was an opinion piece by Tim Ryan, And of course remember Tim Ryan
• 2:46
  has talked about this before. But I think the fact that we're starting to
• 2:50
  see a lot of the Democrats starting to look at this as a potential business
• 2:54
  opportunity for innovation. And also I was looking at some of Perry I'm boring
• 3:00
  she was doing an education. We talked about it yesterday there on Capitol Hill,
• 3:06
  and I was surprised at the number of I think staffers and possibly young
• 3:09
  congress people that we're starting to pay attention actually want to learn a little bit
• 3:15
  more about what's happening. So all this kind of pointing in the right direction.
• 3:17
  For sure, when you look at the I guess from the FIT bill
• 3:23
  itself. On average, would you say people you're talking to that are in
• 3:29
  the crypto community completely understand what this bill is about and they're in support of
• 3:34
  it. What has been kind of the feedback you've seen in the mean coin
• 3:38
  sector. No, I think everybody's just gambling away. But I think working
• 3:44
  on you know, the Ethereum people, the Ethereum maxie is the Bitcoin maxis,
• 3:49
  I think they're a little more clued in. Yeah, if you guys
• 3:53
  aren't aware of what this really represents. FIT twenty one is going to give
• 3:58
  some consumer protections. That's one thing that everybody's kind of worried about. It's
• 4:01
  going to foster innovation. This is going to kind of continue to keep people
• 4:04
  stateside here instead of our blockchain industry starting to move off shore. And then
• 4:11
  of course it's going to end Gary Againsler's rain of Fire and then promote of
• 4:15
  course the United States in terms of leadership around this. So all that's going
• 4:19
  to be positive. And I think this is the really it's just that's the
• 4:24
  simple thing behind it. So I think the more we see of that,
• 4:28
  the better. I'm kind of curious when you look at just the meme coins
• 4:30
  that you're starting to see activity on Did ETH trigger the interest or is it
• 4:36
  some of the other blue chips that are starting to move Because Solana was moving
• 4:40
  a little bit earlier than Ethereum Avalanche just here recently started moving a little bit.
• 4:46
  What's kind of been the trigger point for that? Well, I think
• 4:49
  people have seen the proof is in the putting with the bitcoin etf right,
• 4:54
  We've seen it go back up to all time high and then some And you
• 4:58
  could argue that gray scale selling of the GBTC actually kind of hindered the price
• 5:03
  for a while. There's not going to really be that kind of cell pressure
• 5:08
  with ETH, so the sky's kind of the limit here. Yeah, and
• 5:12
  I think it's great news. Yeah, we're going to take a look at
• 5:14
  the chart here at a bit on that. Here's Hayden from Unicewap. He's
• 5:17
  kind of hitting on this whole point that the fit twenty one bill brings in
• 5:20
  because this helps DeFi as well well. Specifically, there's a carve out there
• 5:26
  in essence for unicewaps. So if we get this, one of the big
• 5:30
  things that is going to happen immediately is that most likely the pressure is going
• 5:36
  to come off from a regulatory standpoint by the sec So they're going to be
• 5:41
  basically in a position where they'll have to drop the lawsuit, is my guest.
• 5:45
  So this is a huge This is the biggest week I think in crypto
• 5:50
  that we have seen yet, maybe even bigger than the ETF, Bigger than
• 5:54
  the Having, Bigger than the Revolution of in terms of going from proof of
• 6:01
  work to proof of steak. This is it. This is the I think
• 6:04
  the super Bowl for sure. Okay, Jackie, I want to show a
• 6:08
  clip for you. This is Patrick McHenry, who you know, we've talked
• 6:13
  about him quite a bit, but he talks a little bit here about Web
• 6:15
  three and the potential for NFTs. Listen in it does theorem would clearly pass
• 6:21
  the decentralization tests that we have in this act. There are a number of
• 6:27
  assets we put through this test to see where it would fall out, but
• 6:30
  etheroreum clearly meets that mark and would be a digital commodity. So imagine you
• 6:36
  take no outside capital. Well, a whole section of the provisions of this
• 6:43
  bill won't affect you because you're not raising money with the securities offering. So
• 6:49
  that is a big, big step in the right direction. If you're not
• 6:53
  taking outside capital, you're working this, So essentially where you're going to look
• 6:57
  at is a whole ton of meme coins or any project out there starting to
• 7:00
  do just a frenzy of air drops to try to create that brand ip and
• 7:04
  obviously that value. So this will be a huge step in the right direction.
• 7:11
  Has the NFT community realized that FIT twenty one sets this up. I
• 7:18
  don't think so. I've seen a little more infighting about why the price is
• 7:23
  down and what's going on. I saw some crypto pugs bitching about doing a
• 7:26
  community takeover and taking it away from Yuga today, So I don't know.
• 7:30
  I think they're arguing too much to be paying attention. Well, hopefully they'll
• 7:34
  start paying attention, because I think this could change the course of a lot
• 7:39
  of different projects out there, at least in terms of the regulatory side of
• 7:43
  it, which is part of what we've seen in terms of innovation that has
• 7:46
  kind of been thwarted here in the United States obviously with projects just moving offshore.
• 7:50
  So hopefully this will be a good good sign. One thing to be
• 7:54
  aware of, guys, because this is literally happening this week. Right now
• 8:00
  is the time to go ahead and kind of get ahead of this by calling.
• 8:05
  If you were to flood your congressman today with phone calls, and you
• 8:07
  can do this pretty simply. The key here, I think is just to
• 8:11
  make sure that your lawmakers understand what's going on out there for sure. So
• 8:16
  a lot a lot going on there. I want to go to a couple
• 8:18
  other tweets here. This one, of course, was Ron Hammond. He
• 8:22
  was kind of hitting on Biden potentially still vetoing if he doesn't actually veto it.
• 8:28
  One thing that's kind of interesting was on the SAB one twenty one.
• 8:31
  This is the most bipartisan support. Let me zoom in on that for you.
• 8:35
  Was the most bipartisan support we had seen so far, thirty three thems
• 8:39
  in support. The last time that this had happened, it was in a
• 8:43
  different bill that had similar bipartisan support that he ended up reversing his veto stance.
• 8:50
  So if the president gets behind this and says, okay, I'm I'm
• 8:54
  not going to do this. Granted, SAB one twenty one is a little
• 8:58
  bit more you know, sweaty gear stuff for banks, but it does give
• 9:03
  indicators as to where maybe Congress is going in terms of regulation. On all
• 9:07
  this good possibility here. One thing to be aware of is that the anti
• 9:13
  crypto army is still out there in force, even though what we feel,
• 9:18
  at least here on our channel is that we think SAB already went through.
• 9:24
  Hopefully the President doesn't veto it fits coming up behind it, and then we
• 9:28
  have stable coin bill that most likely will be passed later. But right here
• 9:33
  is one of our nemesis in this. Of course, we've talked about Hillary
• 9:35
  Allen before, so she's starting to really lay into a lot of Congress and
• 9:41
  you can kind of see right here what she's pushing on right here is saying,
• 9:46
  hey, don't vote for this. So there's clearly a script here that
• 9:50
  they're going after. And if you look at her Twitter account, which is
• 9:52
  kind of interesting, this Twitter account, it just starts blowing up on the
• 9:58
  seventeenth tweet after tweet after tweet after tweet, all going at what's about to
• 10:05
  happen right now. She doesn't tweet that much, and then all of a
• 10:07
  sudden, it's just like boom, boom boom. You look at the potential
• 10:09
  here of just crypto voters now, people who are invested in crypto NFTs.
• 10:18
  You know, you guys, I know you do some stuff with the Trump
• 10:20
  coin. What has been the feedback that you've been seeing in the community now
• 10:24
  that President Trump has even said, hey, maybe we'll look at this a
• 10:30
  little differently now, I think personally we are shocked that they did not go
• 10:35
  full blown opposite day like they normally do. Usually they double down on everything
• 10:41
  he says he is in favor of. They full out and out go on
• 10:45
  the war path again. She could say against oxygen and they'd be like,
• 10:50
  creating is bad and raise it. But I think it's interesting that they finally
• 10:56
  figured out that because money is attached to this, unlike the social causes,
• 11:01
  where they you know, they pulled an emotional heart string. Oh gosh,
• 11:05
  it's so terrible. We need to take care of these people via your tax
• 11:09
  dollars. But with Trump, he just said, well, if you like
• 11:13
  this form of money, vote for me. And they just figured out that,
• 11:16
  you know, super PACs like fair Shake are donating money to campaigns.
• 11:22
  They figured out that people care about their money, especially in the selection with
• 11:26
  inflation as high as it is, more than ever, so the money shocked
• 11:30
  did go the other way shocked. Yeah, well, you know, I'm
• 11:33
  still kind of curious as to whether or not they're not holding that in their
• 11:37
  pocket to try to charge in it kind of last minute and position an opposition
• 11:43
  for it, especially with the potential of the Biden Trump you know debate that's
• 11:48
  coming up, so it'll be it'll be one to watch for sure. Let's
• 11:52
  talk about Base for a second, just quickly. On Chaine summer, getting
• 11:56
  ready to jump a lot of things happening right now. I like this buildation
• 12:01
  track sponsors. They go into a lot because they're talking about payments, They
• 12:07
  talk about discovery with Fleek, they go into creator with our Azora. These
• 12:13
  are just different projects on bas far cast, which we've talked about before on
• 12:16
  social, and then you've got gaming, third Web and what else commerce with
• 12:22
  Shopify. So all these pretty big names out there on Chain. Summer very
• 12:26
  popular last year, most likely going to be very big this year. A
• 12:30
  lot of new projects, any projects that you're watching on Base right now.
• 12:35
  A couple of meme coins just and they're so low cap right now. I
• 12:41
  can't even in good faith and honor actually bringing up on your show. Do
• 12:46
  you guys go do your research. You'll know probably what Jackie's talking about there
• 12:50
  is quite a bit activity in terms of Base and if you're not in,
• 12:54
  you know, if you have a coinbase wallet, most of the time you
• 12:56
  can go out and you know find these because that's typically what you're going to
• 13:00
  be dealing with and if you think about base and their metrics. I'm going
• 13:03
  to look at the explosion right there. Let me zoom in on that total
• 13:07
  users section right there. Look at this explosion. This was back here in
• 13:11
  March, big hike, and then we've just seen nothing but just explosion,
• 13:16
  explosion, and this is just beginning. So the likelihood we're going to see
• 13:20
  unbelievable capture I think here in terms of market and total users as a whole.
• 13:28
  So that's going to be good for base projects for sure. So definitely
• 13:31
  want to keep an eye on. I want to go to another clip.
• 13:35
  I think we had some stuff on the meme coin Frenzy we already played that.
• 13:39
  I wanted to get into this clip right here, which was the Board
• 13:41
  eight Board eight Yacht Club and versus Pudgy. Listen in, so I've got
• 13:48
  two j thanks for you right here. These are both NFT projects. Have
• 13:50
  you heard of NFTSD. On the left we got boord Ape Yacht Club.
• 13:54
  It's basically a brand based on luxury. On the right, we have Pudgy
• 13:58
  Penguins. Pudgy Penguins is more of like a cute profile picture. They're building
• 14:01
  experiences for a younger audience. Which one of these JPEGs would you make your
• 14:03
  PfP the board ape or the pudgy penguin. Probably go with the penguin.
• 14:07
  That's pudgy penguin. We go with the penguin. The penguin because you said
• 14:11
  the monkey represents like wealth. Yes, I want to go with this one.
• 14:13
  I would choose to penguin this one. There's no fucking chance you'll ever
• 14:18
  be to buy one of these, all right, So it looks like penguin.
• 14:22
  The Penguin's one. I'm not sure exactly, but there was a few
• 14:26
  apes and then that that I think our editors cut out, so we'll see.
• 14:31
  But if you look at just NFT right now and the global volume,
• 14:35
  you can kind of see this chart right here. Look at how depressed the
• 14:39
  NFT market is right now. I mean, look at that fly down right
• 14:43
  there. Uh and is this the time right now? Jackie? Maybe eth
• 14:46
  is heating up. Solana's starting to move. People are gonna look for some
• 14:52
  profits. Maybe now is the time to jump into an NFT. I mean,
• 14:56
  you know, these are the charts that the one people are always searching
• 15:01
  for, right this is when you buy. So I'm not financial advice,
• 15:05
  though, I don't know if I'd dumped my money into that. What do
• 15:09
  you own an NFT? Today? I did your favorite? What's your favorite
• 15:13
  n FT? So? I'm a big fan of the God Hates NFTs project
• 15:20
  by Sir Peter's Eth, and I really just love that Rick and Morty style
• 15:24
  of art. I love the ironic messages that they have. I think,
• 15:28
  you know, that's kind of like an anti NFT NFT. I like it.
• 15:33
  Okay, all right, are you looking at if if you were going
• 15:37
  out today and you're going to buy Eth, Solana, or an NFT,
• 15:41
  what would you buy? I It might depend on how much money I had
• 15:48
  to play with. I think if I had a lower amount, I'd probably
• 15:50
  just buy Solana, and if I had a little more, d by Eth,
• 15:52
  but NFTs would be last between the three. Okay, all right,
• 15:56
  well there you go. Jackie is now not in love with NFTs yet,
• 16:03
  not yet, but maybe down the road we're going to see some Hey,
• 16:07
  Jackie, it's always fun to kind of break it down with you. Thank
• 16:08
  you so much for coming in today. We appreciate it. Thanks, I
• 16:12
  had a great time. You bet all right, you guys, if you're
• 16:15
  not in the diamond circle mixture and get in right now, it's a great
• 16:18
  place to catch additional content. We'll be giving you a full report on the
• 16:22
  fit bill, so as we start to see that, most likely we're going
• 16:25
  to see a vote come through tomorrow night. This is I think we'll change
• 16:29
  the course of where Web three is going. Obviously we're crypto and especially securities
• 16:33
  management, whether that's handling under the SEC or the CFTC in the future.
• 16:37
  All of this good for crypto, I think right now because it does put
• 16:41
  it on the front firing line. So anyway, follow me on x at
• 16:45
  Paul Baron. We'll catch you next time right here on tech Path.