Latest / The Paul Barron Crypto Show / Crypto Spring Begins as CLARITY Approaches🚀Crypto Market Update🚨

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Crypto Spring Begins as CLARITY Approaches🚀Crypto Market Update🚨 · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Crypto Spring is here and we're going to be breaking
• 0:02
  Speaker 1: down a lot of news within the clarity markup and
• 0:04
  Speaker 1: what is expected.
• 0:05
  Speaker 2: Let's get into it today.
• 0:06
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• 0:26
  Speaker 1: down below. It does help the channel. I want to
• 0:28
  Speaker 1: lead off with a clip, and this clip will get
• 0:30
  Speaker 1: us into a little bit of where Patrick Witt thinks
• 0:33
  Speaker 1: all of this is going to happen.
• 0:35
  Speaker 2: Take a look.
• 0:36
  Speaker 3: We're going to advance this bill out of the Cenate
• 0:38
  Speaker 3: Banking Committee this month. We're going to get it on
• 0:40
  Speaker 3: the Senate floor. We have four working weeks. I believe
• 0:43
  Speaker 3: in June in the Senate we'll be able to advance
• 0:46
  Speaker 3: that legislation, get a floor vote, and then provide enough
• 0:49
  Speaker 3: time for the House to pass it. We're targeting July fourth.
• 0:52
  Speaker 3: I think that would be a tremendous, tremendous birthday present
• 0:55
  Speaker 3: for America celebrating our two hundred.
• 0:56
  Speaker 1: And fiftieth Eleanor broke some news this morning. A banking
• 1:00
  Speaker 1: committee is preparing to notice a markup for the Clarity
• 1:03
  Speaker 1: Act as soon as tomorrow that would be Friday going
• 1:06
  Speaker 1: into the weekend, and has circulated a draft legislative text
• 1:10
  Speaker 1: to select industry members ahead of the potential Thursday vote.
• 1:13
  Speaker 1: According to multiple industry sources, we have seen the text,
• 1:16
  Speaker 1: so this could be interesting because generally the language, and
• 1:21
  Speaker 1: this is something we've been talking about for a little while,
• 1:23
  Speaker 1: is that everything's still kind of influx. It is still
• 1:26
  Speaker 1: being finalized. We even saw the banks kind of reach
• 1:29
  Speaker 1: out and push back. I kind of thought maybe they
• 1:31
  Speaker 1: saw our video on Monday when we started breaking this down.
• 1:35
  Speaker 2: But I think we're.
• 1:36
  Speaker 1: Going to continue to see a little bit more flexibility. However,
• 1:38
  Speaker 1: I do think that some of these senators are probably
• 1:41
  Speaker 1: done in trying to get this done.
• 1:43
  Speaker 2: One source told her.
• 1:44
  Speaker 1: The overall vibes after reviewing the bill and coordinating with
• 1:47
  Speaker 1: other industry leaders are positive so far, so even though
• 1:51
  Speaker 1: some have kind of bracketed some sections, raising concerns key
• 1:54
  Speaker 1: provisions previously thought to be settled. This is the problem
• 1:57
  Speaker 1: that you face around this stage right now. The poll
• 2:01
  Speaker 1: though that came in from Harris and if you guys
• 2:05
  Speaker 1: don't know, the Harris poll does all sorts of political polls,
• 2:08
  Speaker 1: which kind of calls attention to it and kind of
• 2:10
  Speaker 1: see right here, fifty two percent in terms of support
• 2:14
  Speaker 1: for the Clarity Act, crossing party lines, fifty two percent
• 2:17
  Speaker 1: support only eleven percent a post, so people are liking those,
• 2:21
  Speaker 1: which means the voters that are going to be out
• 2:23
  Speaker 1: there voting for supporting the Clarity Act also as politically advantageous.
• 2:27
  Speaker 1: Another one that kind of shows only twenty two percent
• 2:30
  Speaker 1: said that it would strengthen it. This is talking about
• 2:33
  Speaker 1: national security. It's the most powerful frame. So everybody says
• 2:37
  Speaker 1: digital payment systems built and controlled outside the US would
• 2:41
  Speaker 1: weaken national security. This is the issue I think that
• 2:44
  Speaker 1: a lot of these senators are facing and House members
• 2:46
  Speaker 1: are facing right now, is that if they don't get
• 2:49
  Speaker 1: this done, all of this moves offshore and they get
• 2:52
  Speaker 1: blamed for it.
• 2:53
  Speaker 2: So I would agree that is a big one right here.
• 2:55
  Speaker 1: Also, the Americans want us leading the future of digital
• 2:58
  Speaker 1: financing kind of see us voters want the leadership and
• 3:01
  Speaker 1: clear rules. Seventy percent said they would do it. Sixty
• 3:04
  Speaker 1: two percent extremely are very important, and sixty percent prefer
• 3:08
  Speaker 1: clear federal regulations. So everybody's all in on this. That
• 3:12
  Speaker 1: is a big signal to a lot of the lawmakers.
• 3:15
  Speaker 1: That simply says, guys, get it done or you're going
• 3:19
  Speaker 1: to get voted out. Now, this is interesting because Mike
• 3:22
  Speaker 1: Belshie hit on something that was interesting, and that is
• 3:25
  Speaker 1: where are people coming from in terms of institutional capital
• 3:29
  Speaker 1: and what are they waiting? He mentioned the word trillions
• 3:32
  Speaker 1: as you kind of see there from Patrick Witt, but
• 3:34
  Speaker 1: it really was builed down to one simple quote and
• 3:38
  Speaker 1: it was this right here, we want to see the
• 3:40
  Speaker 1: stamp of approval.
• 3:41
  Speaker 2: He's talking about clarity.
• 3:43
  Speaker 1: That's the go button, and I think everybody is waiting
• 3:46
  Speaker 1: on that right now. Other exposts out right here this
• 3:49
  Speaker 1: course is Senator Jellabrand. She's said on a couple of
• 3:51
  Speaker 1: things here that are very interesting. Before negotiation, before markup
• 3:55
  Speaker 1: consumer protections, we don't know what that looks like. Elicit
• 3:58
  Speaker 1: finance and terrorism financing, say cards meaning making sure that
• 4:02
  Speaker 1: DeFi doesn't get exploited. Ethics provisions for government officials, you
• 4:06
  Speaker 1: know what that means. That's going after the Trump family,
• 4:08
  Speaker 1: so there's still some things yet to be worked out.
• 4:12
  Speaker 1: I did an interview yesterday at the Salona Accelerate event
• 4:15
  Speaker 1: with Miller from the Salon Policy Institute. He kind of
• 4:18
  Speaker 1: hit on some of those things. I was surprised at
• 4:21
  Speaker 1: what he told me around how that last issue around ethics.
• 4:25
  Speaker 2: Could get resolved.
• 4:26
  Speaker 1: Go watch that video because it was a very interesting
• 4:28
  Speaker 1: discussion of where it went. We've got it on the
• 4:30
  Speaker 1: show right now or on the channel right now. Patrick
• 4:33
  Speaker 1: also comes in, it's not true compromise because it doesn't
• 4:35
  Speaker 1: eliminate yield completely. This was in reference to the bank
• 4:39
  Speaker 1: saying that they had won the yield compromise when in reality,
• 4:43
  Speaker 1: there were some openings within this language that we broke
• 4:46
  Speaker 1: down on our Monday video, and that Monday video I
• 4:50
  Speaker 1: think maybe got the attention of some bankers. So I'm
• 4:53
  Speaker 1: kind of sad that I did that video. But now
• 4:57
  Speaker 1: the fact that banks think that they won is kind
• 5:00
  Speaker 1: of just silly right now, I think is what Patrick's
• 5:04
  Speaker 1: getting at, and I would agree with that. The other
• 5:06
  Speaker 1: thing I want to hit on right here is Bitmin Bitmin,
• 5:09
  Speaker 1: of course, is continuing to move very aggressively toward its
• 5:13
  Speaker 1: eth holdings. A couple of points I want to highlight.
• 5:16
  Speaker 1: You'll notice Clarity Act signed into the law. But the
• 5:18
  Speaker 1: point that I want to get at is right here.
• 5:21
  Speaker 1: This is a reference to Tom Lee says, we believe
• 5:23
  Speaker 1: the potential passage or even failure of the Clarity Act
• 5:26
  Speaker 1: confirms the arrival of crypto spring. Now I can look
• 5:30
  Speaker 1: at this and say, all right, passage. Does he believe
• 5:32
  Speaker 1: it's going to pass? I don't necessarily believe that. If
• 5:35
  Speaker 1: it doesn't pass, the crypto spring is here.
• 5:38
  Speaker 2: Now.
• 5:38
  Speaker 1: Granted it will create crypto I think a crypto storm
• 5:43
  Speaker 1: in general in DC, just because of the kind of
• 5:46
  Speaker 1: pressure that's going to be put on all of these politicians.
• 5:49
  Speaker 1: Maybe that's the angle he's talking about. If it doesn't pass,
• 5:52
  Speaker 1: there's going to be such a storm that it's going
• 5:54
  Speaker 1: to continue to push the market as well as policy.
• 5:58
  Speaker 1: We'll see how that goes. As in law right now,
• 6:01
  Speaker 1: holding at sixty seven percent, this looks pretty good right now. Again,
• 6:06
  Speaker 1: I think everybody's a little bit cautious around where this
• 6:10
  Speaker 1: stands because of what can happen between now next week
• 6:13
  Speaker 1: and then from next week all the way through to
• 6:16
  Speaker 1: actually getting the bill into law. Other points, get Trump
• 6:19
  Speaker 1: going out there saying, hey, man, we just keep on
• 6:21
  Speaker 1: trucking here. Stock market hit another all time high. Jobs
• 6:25
  Speaker 1: are up four oh one k's are booming. I don't
• 6:28
  Speaker 1: know how you can argue with that one, but you know,
• 6:30
  Speaker 1: I'm always worried because this always starts to put a
• 6:34
  Speaker 1: question mark when you see this type of goodness happening
• 6:37
  Speaker 1: in the market. Right now, the DOJ, though, is probing
• 6:40
  Speaker 1: another two point six billion in mystery oil trades linked
• 6:43
  Speaker 1: to Trump. Remember we've talked about this every almost every week,
• 6:47
  Speaker 1: there is a pump and dump. Feels like in the
• 6:50
  Speaker 1: middle of a Friday during market closes, when markets are
• 6:54
  Speaker 1: most vulnerable these kinds of activity, and because it's mostly
• 6:58
  Speaker 1: twenty four to seven trade, then these kinds of activities
• 7:01
  Speaker 1: really kind of flow into a negative position.
• 7:04
  Speaker 2: I think this is the thing that I am.
• 7:05
  Speaker 1: Still worried about around the issue of ethics that could
• 7:08
  Speaker 1: get into the way of where this goes. Now, Tom
• 7:10
  Speaker 1: Lee comes in and says, wait a minute, let me
• 7:14
  Speaker 1: explain how big this rally is really going to be.
• 7:17
  Speaker 4: Take a look to infinity and beyond what he's calling
• 7:20
  Speaker 4: now the buzz light Year theory BLT of AI. The
• 7:24
  Speaker 4: data revolution is going to infinity and beyond. He says
• 7:29
  Speaker 4: he's even more bullish than his original Roaring twenties twenty twenties.
• 7:35
  Speaker 5: I mean, I think it's something we have to calibrate
• 7:37
  Speaker 5: because I'm actually here at the Milken Conference, and I
• 7:41
  Speaker 5: think one of the recurring themes is that AI for
• 7:45
  Speaker 5: the US is probably adding two percentage points to GDP
• 7:48
  Speaker 5: each year for the next five years. You know, that's
• 7:51
  Speaker 5: like six percent SMP earnings growth coming from AI productivity
• 7:57
  Speaker 5: and balancing.
• 7:58
  Speaker 6: That is.
• 7:58
  Speaker 5: I know a lot of rational investors that continue to
• 8:01
  Speaker 5: point to this coming shortage of petroleum products. So I
• 8:04
  Speaker 5: think there's enough logical reasons for people to stay cautious.
• 8:07
  Speaker 5: But I think there's now a fundamental argument for why
• 8:10
  Speaker 5: AI is causing earning's growth without inflation, and so that
• 8:15
  Speaker 5: is a good combination for stocks.
• 8:16
  Speaker 2: So that's his bull run thesis.
• 8:18
  Speaker 1: However, he also drops a video that says there could
• 8:23
  Speaker 1: be a retracement. Now, remember just in that video he
• 8:25
  Speaker 1: kind of talks a little bit about petroleum oil in
• 8:28
  Speaker 1: general and what kind of impact that might have if
• 8:31
  Speaker 1: there is a shortage.
• 8:32
  Speaker 2: Take a look at this clip.
• 8:33
  Speaker 4: And we had about ten percent or so pullback in
• 8:37
  Speaker 4: the s and P I thought, well, maybe that's Tom's moment.
• 8:41
  Speaker 4: He couldn't get the timing right, because who can. But
• 8:45
  Speaker 4: that was the pullback, and now we're so bulled up
• 8:47
  Speaker 4: on AI that maybe we're we're going to do just
• 8:50
  Speaker 4: fine for the rest of the year. But you're still looking.
• 8:53
  Speaker 4: You're still looking for a drawdown of fifteen to twenty percent?
• 8:56
  Speaker 6: Is that right?
• 8:59
  Speaker 5: I am Scott. I think the seventy three hundred originally
• 9:01
  Speaker 5: was like an aspirational level, and now that we're here,
• 9:05
  Speaker 5: I think that there still is fuel for a move
• 9:08
  Speaker 5: higher from here. But we do have to confront later
• 9:11
  Speaker 5: this year two things, and maybe it won't affect the markets,
• 9:15
  Speaker 5: but I think it's the trigger for a drawdown. One is,
• 9:17
  Speaker 5: of course, the market will test a new FED and
• 9:20
  Speaker 5: this incoming FED chair has some different theories on the
• 9:23
  Speaker 5: sources of inflation and how to read inflation, and so
• 9:26
  Speaker 5: the market, I believe, will put those views to the test.
• 9:29
  Speaker 5: And of course the second is that every day that
• 9:33
  Speaker 5: the straight as closed, we know that there's an acute
• 9:35
  Speaker 5: shortage developing of petroleum products. So if price reacts later
• 9:39
  Speaker 5: this year, that's going to test the market. So I
• 9:41
  Speaker 5: do think there's the ingredients for turbulence later. But AI
• 9:47
  Speaker 5: and the scarcity, and the US is the provider of
• 9:49
  Speaker 5: that scarcity. Is why I think we can exit seventy
• 9:52
  Speaker 5: seven or higher and maybe twenty twenty seven is one
• 9:56
  Speaker 5: of the biggest rallies we see in our lifetimes.
• 9:58
  Speaker 1: Wow, this is a lot to break down because he
• 10:00
  Speaker 1: is talking about the issue of kind of the flow
• 10:03
  Speaker 1: on effect of what energy is globally. Remember though, and
• 10:08
  Speaker 1: I'll talk about this in a second, you got the
• 10:09
  Speaker 1: Trump g meeting coming to A lot of that's going
• 10:12
  Speaker 1: to be centered around energy and where that is flowing from.
• 10:15
  Speaker 1: Remember though, the United States still one of the largest,
• 10:17
  Speaker 1: if not I think one of the top three oil
• 10:20
  Speaker 1: producers in the world. A lot of that has been
• 10:22
  Speaker 1: diverted into US oil in terms of the stoppage of
• 10:25
  Speaker 1: what we've seen in the Middle East, and even if
• 10:28
  Speaker 1: you look at Saudi and even Katar and the UAE,
• 10:31
  Speaker 1: who have all started to try to correlate other ways
• 10:34
  Speaker 1: to get and start shipping.
• 10:36
  Speaker 2: I don't know.
• 10:36
  Speaker 1: I'm still questioning whether or not we will see a shortage.
• 10:39
  Speaker 1: If that does happen and there is a market slow down,
• 10:42
  Speaker 1: then yeah, I could agree with Tom.
• 10:44
  Speaker 2: Is that there could be that.
• 10:46
  Speaker 1: I'm more concerned about what we'll see in these hyperscalers
• 10:50
  Speaker 1: and whether that truly has an effect on AI because
• 10:53
  Speaker 1: this is all going to boil down to earnings and
• 10:56
  Speaker 1: that's what's going to drive the market.
• 10:57
  Speaker 2: That would be a question mark. I think for sure.
• 11:00
  Speaker 1: Other things that come into this, of course is going
• 11:02
  Speaker 1: to be on jobs, and that of course is setting
• 11:04
  Speaker 1: right now. February US employers cut, remember those dates, That
• 11:08
  Speaker 1: was the largest monthly the client since July. But in
• 11:11
  Speaker 1: March now they're increasing by six hundred.
• 11:15
  Speaker 2: And sixty or fifty five thousand.
• 11:16
  Speaker 1: So, first of all, guys understand that these job numbers
• 11:21
  Speaker 1: always get revised. I don't think we've seen one report
• 11:24
  Speaker 1: come out that hasn't been revised whether it's and it's
• 11:27
  Speaker 1: always downward. So if that sixty five is real, six
• 11:30
  Speaker 1: fifty five is real? Likelihood is that does that get
• 11:32
  Speaker 1: even pushed down? But the fact that it's had that
• 11:34
  Speaker 1: many new ones is surprising to me based on what
• 11:38
  Speaker 1: we've seen around the industry. Now there is a possibility,
• 11:41
  Speaker 1: because there's been so many cuts, some of these companies
• 11:44
  Speaker 1: may have thought, oh wait a minute, we actually have
• 11:46
  Speaker 1: to hire new kinds of people to replace all the
• 11:49
  Speaker 1: people that didn't know what to.
• 11:50
  Speaker 2: Do with AI.
• 11:51
  Speaker 1: But now you know there's a demand for that kind
• 11:54
  Speaker 1: of worker, So maybe that is an opening that is
• 11:56
  Speaker 1: starting to develop. Here is the meeting though, that matters them,
• 12:00
  Speaker 1: and that is the Trump g meeting. This will be
• 12:02
  Speaker 1: really talking about AI. They'll be talking about energy. And
• 12:07
  Speaker 1: I think this is a key issue because as this
• 12:10
  Speaker 1: starts to put a lot of pressure. Remember Trump has
• 12:12
  Speaker 1: been putting a lot of pressure on China via energy.
• 12:16
  Speaker 1: China could put a lot of pressure on the US
• 12:19
  Speaker 1: via chips chips. Of course, we know Taiwan being mostly
• 12:23
  Speaker 1: correlated to that. China always been in a position where
• 12:27
  Speaker 1: they are trying to look at potentially taking control of
• 12:30
  Speaker 1: Taiwan at some point, So a lot of that still
• 12:33
  Speaker 1: in play today. Now here's a clip from Mark Cudbo
• 12:37
  Speaker 1: Cudmore and he talks about is this meeting really bigger
• 12:41
  Speaker 1: than what the job's narrative is here in the US?
• 12:44
  Speaker 2: Take a look.
• 12:45
  Speaker 6: So I think she Trump is bigger than the data
• 12:47
  Speaker 6: that's coming out. And then you've also got the conflict itself.
• 12:50
  Speaker 6: The base case from markets is that there's incentives from
• 12:54
  Speaker 6: both sides, both Iran and the US to keep some
• 12:58
  Speaker 6: kind of ceasefire negotiation going into that Trump She summit.
• 13:02
  Speaker 6: It'll be very hard to have that Trump She summat
• 13:04
  Speaker 6: happening amid a major re escalation intentions. So that's why
• 13:07
  Speaker 6: people are assuming it'll be positive into the summit. This
• 13:10
  Speaker 6: is an AI driven rally, but AI can is that,
• 13:12
  Speaker 6: you know, are all the most important names, is the
• 13:14
  Speaker 6: most important theme in market. So I think AI will
• 13:16
  Speaker 6: continue to drag the market higher and actually other parts
• 13:19
  Speaker 6: might play catchup in the short term.
• 13:21
  Speaker 2: How far does it take us again.
• 13:23
  Speaker 6: Even from here more powerful than people expect. It's one
• 13:25
  Speaker 6: of those rallies where everyone's going gets too far too fast.
• 13:28
  Speaker 6: I get it, but you need a catalyst to change.
• 13:30
  Speaker 6: So even though it seemed extraordinary from here, it's going
• 13:32
  Speaker 6: to get more rocket, it's going to get more volatile
• 13:34
  Speaker 6: because we're seeing such a powerful move. It means that
• 13:36
  Speaker 6: the negative headlines people leap on them. They get very excited.
• 13:39
  Speaker 6: But ultimately, with the core momentum higher, I think we're
• 13:42
  Speaker 6: going to get some really crazy, you know, superlatives over
• 13:46
  Speaker 6: the next week into that meeting, when then we'll see
• 13:48
  Speaker 6: all right.
• 13:49
  Speaker 1: So with that, I think Key is right, is that
• 13:52
  Speaker 1: this meeting could be market leading. The other thing that
• 13:58
  Speaker 1: could come out is it could be very explosive too.
• 14:00
  Speaker 1: So I'm assuming though that the sentiment is right and
• 14:04
  Speaker 1: that this will be a good meeting. But time is
• 14:07
  Speaker 1: going to tell, it will know quickly, and of course
• 14:09
  Speaker 1: a lot of is going to have to happen within
• 14:11
  Speaker 1: the Middle East to be able to kind of appease
• 14:13
  Speaker 1: some of that. You have some challenges right now that
• 14:16
  Speaker 1: still have not been resolved. So because of that, you've
• 14:18
  Speaker 1: got smart money kind of setting on the sidelines right now.
• 14:21
  Speaker 1: Smart money is avoiding the US stocks ESPX is printing
• 14:25
  Speaker 1: new highs, yes, but three straight weeks of hedge funds
• 14:29
  Speaker 1: have been selling along these all time highs.
• 14:32
  Speaker 2: So if you're a retail just be aware of that.
• 14:34
  Speaker 1: Guys, if you're in retail and you are looking at
• 14:37
  Speaker 1: this kind of situation and you're just trying to do
• 14:39
  Speaker 1: a fomo of what's happening with the SMP, just be
• 14:42
  Speaker 1: aware that this is happening.
• 14:44
  Speaker 2: Right now.
• 14:45
  Speaker 1: The buffet indicator printed two hundred and twenty seven percent.
• 14:48
  Speaker 1: That's above two hundred percent, like it's playing with fire.
• 14:51
  Speaker 1: So that's why the market I think is still ripping
• 14:54
  Speaker 1: and I would agree with that one for sure. You
• 14:56
  Speaker 1: look at the LinkedIn founder and what he said here,
• 15:01
  Speaker 1: crypto becomes critical in an AI world, and I think
• 15:03
  Speaker 1: that's going to be pretty much a hands down doesn't
• 15:06
  Speaker 1: matter where you are, AI is going to be trading
• 15:08
  Speaker 1: faster and better. There's one of the takeaways that I
• 15:10
  Speaker 1: looked at from the conference and I said, you know,
• 15:13
  Speaker 1: I think crypto, most crypto investors are cooked. And the
• 15:17
  Speaker 1: reason is is because you're no longer really going to
• 15:19
  Speaker 1: be trading and try to out trade this kind of
• 15:22
  Speaker 1: a gentic marketplace just not going to exist. The other
• 15:24
  Speaker 1: thing I think that is a concern right now in
• 15:26
  Speaker 1: the market is there's going to be a true haves
• 15:29
  Speaker 1: and have not sector. I unfortunately feel like the meme
• 15:34
  Speaker 1: coins and to a certain extent even all coins will
• 15:37
  Speaker 1: subside in terms of interest level. Now there will be
• 15:40
  Speaker 1: a handful, not saying that all of them will go away,
• 15:43
  Speaker 1: but I do think there's going to be several thousands
• 15:46
  Speaker 1: of them.
• 15:47
  Speaker 2: That will just disappear.
• 15:48
  Speaker 1: If you're looking at trying to outpace this, out maneuver it.
• 15:52
  Speaker 1: In terms of where the AI play, I think you
• 15:54
  Speaker 1: just go to the l once that's where all of
• 15:55
  Speaker 1: this is going to reside anyway. So those are the
• 15:58
  Speaker 1: safer bets in most cases, and those are the ones
• 16:00
  Speaker 1: that are going to be trading along trad fied. They're
• 16:03
  Speaker 1: going to be the ones that really start to get
• 16:04
  Speaker 1: market dominance and distribution and also the idea that everybody's
• 16:09
  Speaker 1: after it, and that of course is adoption.
• 16:11
  Speaker 2: So keep that in your mind. I put this sweet out.
• 16:15
  Speaker 2: This is the real I think.
• 16:16
  Speaker 1: The reason for Coinbase's layoffs is that the tide is shifting.
• 16:19
  Speaker 1: You look at Morgan Stanley's strategy here. They basically went
• 16:22
  Speaker 1: head on with one of their biggest players out there,
• 16:25
  Speaker 1: and that are competitors, which is swaps, which is a
• 16:28
  Speaker 1: fight for that low fee. They were trading at seventy
• 16:30
  Speaker 1: five BIPs. Now Morgan Stanley trading at fifty. As they
• 16:33
  Speaker 1: start to add crypto trading, this is going to get
• 16:35
  Speaker 1: even more heated. So imagine this in other traditional finance
• 16:40
  Speaker 1: sectors that are going to continue to put pressure on
• 16:44
  Speaker 1: what we know, and that is of course to crypto
• 16:45
  Speaker 1: exchange is having to get what it boils down to.
• 16:48
  Speaker 1: Is this clip right here, and cz kind of breaks
• 16:51
  Speaker 1: it down.
• 16:51
  Speaker 7: Even if one player doesn't lower their fees, the other
• 16:54
  Speaker 7: players will and the player who doesn't lowder their fees
• 16:56
  Speaker 7: will lose market share. So you can keep your high fees,
• 16:59
  Speaker 7: but then you will have any business. So I think
• 17:01
  Speaker 7: they are recognizing that, and that's going to be another
• 17:04
  Speaker 7: factor that they actually have to be a race to
• 17:06
  Speaker 7: adopt this new technology which lawers their costs.
• 17:09
  Speaker 8: Pure plays are more often the winners because they're not
• 17:14
  Speaker 8: encumbered by two ecosystems, the trad file in this case
• 17:19
  Speaker 8: and DeFi.
• 17:21
  Speaker 2: This idea of if.
• 17:22
  Speaker 8: You don't get with the program, you're going to lose,
• 17:24
  Speaker 8: it is going to happen in a shorter period of
• 17:26
  Speaker 8: time than it has historically.
• 17:28
  Speaker 7: Right, Absolutely, the rate of change is increasing and the
• 17:32
  Speaker 7: response time is shortening, even though like no, just see,
• 17:35
  Speaker 7: you may think have two years, he might get firing
• 17:37
  Speaker 7: a year if he doesn't use AI, doesn't use blockchain,
• 17:40
  Speaker 7: we'll see.
• 17:41
  Speaker 3: All right.
• 17:41
  Speaker 1: So Ceazy hitting on the point is that everybody's racing
• 17:44
  Speaker 1: for better fees there. And I don't know that I
• 17:46
  Speaker 1: agree with Kathy on that because I think what all
• 17:49
  Speaker 1: of that's happening right now, trad FI, DeFi, crypto, traditional finance.
• 17:54
  Speaker 1: I think this is starting to blur the lines. Granted,
• 17:56
  Speaker 1: it is still a long ways from getting there, but
• 17:58
  Speaker 1: I think the speed in which it will happen once
• 18:00
  Speaker 1: clarity comes into play, it could be reality where you
• 18:03
  Speaker 1: won't be calling it crypto anymore, to just be of
• 18:06
  Speaker 1: next generation finance. That's all that we'll be talking about.
• 18:10
  Speaker 1: The Other thing that's hitting right now is that there's
• 18:13
  Speaker 1: two big features that are happening at the same time. One,
• 18:17
  Speaker 1: of course, you have Clarity over here boiling in trying
• 18:20
  Speaker 1: to drill down in terms of the language. But you
• 18:22
  Speaker 1: also have what's happening over at the at the USOCC,
• 18:25
  Speaker 1: which is the OCC. Fur breaks it down here from coinbase.
• 18:28
  Speaker 1: He says, we submitted our response to the usocc's proposed
• 18:31
  Speaker 1: rule for permitted payment stable coins. This is the issue
• 18:34
  Speaker 1: that is tracking along the OCC, who is in charge
• 18:39
  Speaker 1: of implementing policy and what's being marked up, which is
• 18:43
  Speaker 1: where the industry is. So you got two potential issues here.
• 18:46
  Speaker 1: Think of it this way. The banks are still trying
• 18:49
  Speaker 1: to get policy written through the OCC. If they don't
• 18:52
  Speaker 1: like it, then they would put pressure over here on
• 18:54
  Speaker 1: the language going into clarity. So this is a two
• 18:58
  Speaker 1: fronted war right now, one with the policy side, the
• 19:01
  Speaker 1: other with the regulatory front that's going through the Senate
• 19:05
  Speaker 1: right now, hopefully into markup, so you can kind of
• 19:07
  Speaker 1: see and that is this right here. The OCC should
• 19:11
  Speaker 1: not limit white label stable coins or prohibit multi issuance models,
• 19:16
  Speaker 1: limiting or prohibiting legitimate business models with stifle competition and innovation.
• 19:21
  Speaker 1: And this is a thing that I think we are
• 19:22
  Speaker 1: going to be dealing with now. Remember a lot of
• 19:24
  Speaker 1: this is well, all of this is being driven off
• 19:27
  Speaker 1: of their Genius Act. This is where this policy is
• 19:30
  Speaker 1: being constructed right now. The Clarity Act, which is going
• 19:34
  Speaker 1: through will eventually complement all of this.
• 19:37
  Speaker 2: So you can see.
• 19:38
  Speaker 1: It's almost like you get a pregame happening over the
• 19:41
  Speaker 1: OCC with the banks before you go to the real game,
• 19:43
  Speaker 1: which is getting Clarity through the Senate.
• 19:46
  Speaker 2: So a lot happening, guys.
• 19:48
  Speaker 1: White House official Patrick Witz says Bitcoin Strategic Reserve announcement
• 19:52
  Speaker 1: is coming in weeks. This has been a promise for
• 19:55
  Speaker 1: a while. I'll wait and see.
• 19:57
  Speaker 2: Wall Street firms now are hiring for dozen of crypto jobs.
• 20:02
  Speaker 1: This of course, you can kind of see everybody's out
• 20:04
  Speaker 1: there hiring you JP Morgan, Morgan Stanley, Blackrock, Bank of
• 20:07
  Speaker 1: American City, group Fidelity Jeffrey. Listen, guys, they have arrived.
• 20:12
  Speaker 1: They understand the games here, and they're going to be.
• 20:14
  Speaker 2: A big part of it.
• 20:15
  Speaker 1: Guys, the fate of crypto is literally happening right now.
• 20:19
  Speaker 1: We are talking about the ten most important days maybe
• 20:23
  Speaker 1: in all of crypto history, as it starts to meet
• 20:25
  Speaker 1: the deadline going into the Senate, and a lot of
• 20:28
  Speaker 1: this is going to be going back and forth, So
• 20:30
  Speaker 1: stay tuned right here. If you like this video, like
• 20:40
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• 20:43
  Speaker 1: our free private member group.
• 20:45
  Speaker 2: The link is in the description