Latest / The Paul Barron Crypto Show / Hester Peirce Leading Crypto Task Force!️‍🔥SEC vs. Crypto War Over!

Transcript

Hester Peirce Leading Crypto Task Force!️‍🔥SEC vs. Crypto War Over! · The Paul Barron Crypto Show

• 0:07
  Speaker 1: Trump's second day in office.
• 0:08
  Speaker 2: Today, we're going to be talking about a crypto task
• 0:10
  Speaker 2: force that is brewing within the SEC. What this might
• 0:13
  Speaker 2: mean for you guys. My name is Pulberre. Welcome back
• 0:15
  Speaker 2: into tech path. Let's get into it. I do want
• 0:17
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  Speaker 2: so check it out. Let's go over to a couple
• 0:52
  Speaker 2: of points I want to hit on today. The COBEEC
• 0:54
  Speaker 2: letter hit in here breaking Presidents Trump's SEC is launching
• 0:58
  Speaker 2: a crypto task Force to develop clear regulatory for the industry,
• 1:02
  Speaker 2: and of course a couple of points within this. Le'm
• 1:04
  Speaker 2: kind of zoom in on that for you so you
• 1:06
  Speaker 2: guys can see it. SEC Acting Chair Mark youu Ada,
• 1:09
  Speaker 2: which I'll talk about in a second launch to Crypto's
• 1:11
  Speaker 2: task force dedicated to developing a comprehensive and clear regulatory
• 1:15
  Speaker 2: framework for crypto assets.
• 1:17
  Speaker 1: So this is a big step forward, guys.
• 1:19
  Speaker 2: This is probably one of the key things that I
• 1:21
  Speaker 2: think when you look at the SEC and they're thwarting
• 1:25
  Speaker 2: of the industry the way they have over the past
• 1:27
  Speaker 2: four years. This is a huge step on just day two.
• 1:31
  Speaker 2: So imagine the amount of learnings that the SEC and
• 1:34
  Speaker 2: people like you, Ada, Hester Parris and others are really
• 1:37
  Speaker 2: going to gather along with their new SEC chair coming in.
• 1:41
  Speaker 2: So there's a lot going forward here. I've got a
• 1:43
  Speaker 2: clip here from Tony show over. I'm thinking crypto and
• 1:47
  Speaker 2: this is Hester Pearson. I want to play a little
• 1:50
  Speaker 2: bit from this, but take a look.
• 1:52
  Speaker 3: And how does that line up with what we have
• 1:56
  Speaker 3: in our regulation and what our precedent has been in
• 1:58
  Speaker 3: this space, And then where might you need some sort
• 2:01
  Speaker 3: of exemptive relief to allow this to move forward? And
• 2:06
  Speaker 3: I think there are a number of different ways to
• 2:08
  Speaker 3: do that. We have a no action letter process which
• 2:11
  Speaker 3: someone can come in and submit a request for no
• 2:14
  Speaker 3: action relief, which basically the staff can issue and says,
• 2:19
  Speaker 3: if you do it under these conditions, we're not going
• 2:22
  Speaker 3: to recommend an enforcement action. We've seen a few of
• 2:25
  Speaker 3: those in the crypto space, but that process could be reinvigorated.
• 2:30
  Speaker 3: We also can give exemptive applications and an exemptive People
• 2:37
  Speaker 3: can come in with an exemptive application and get an
• 2:39
  Speaker 3: exemptive order from US, which basically says, you know, we're
• 2:44
  Speaker 3: sort of setting up some conditions that you comply with,
• 2:46
  Speaker 3: and if you do that, then you don't have to
• 2:49
  Speaker 3: comply with all the requirements and the rules, and so
• 2:53
  Speaker 3: people can come in with those requests and then you know.
• 2:57
  Speaker 3: I think helping people think through and something as a
• 3:00
  Speaker 3: security and when not will also be helpful for people
• 3:04
  Speaker 3: in trying to understand whether they even have to come
• 3:08
  Speaker 3: in and register with us. What I think is really
• 3:13
  Speaker 3: important is that people know that we want to have
• 3:16
  Speaker 3: those conversations, which I can tell you that I certainly
• 3:20
  Speaker 3: do want to have those conversations, and I expect this
• 3:22
  Speaker 3: new SEC to want to have those conversations and want
• 3:26
  Speaker 3: to do all.
• 3:28
  Speaker 2: Right, So what you can see there is hester Parris
• 3:30
  Speaker 2: kind of breaking this down in the ways in which
• 3:33
  Speaker 2: a company could come in and register. But also I
• 3:36
  Speaker 2: thought a very interesting statement she was making there is
• 3:39
  Speaker 2: to even establish whether or not you need registration or
• 3:42
  Speaker 2: not if you are a security So I think this
• 3:44
  Speaker 2: is really opening up just the beginning of a conversation
• 3:48
  Speaker 2: with the SEC, which may end up being a good thing,
• 3:51
  Speaker 2: especially around a lot of the regulation that is brewing
• 3:54
  Speaker 2: here in the United States. So big, big step on
• 3:57
  Speaker 2: just day two, which many people are a little little
• 4:00
  Speaker 2: bit I think concerned about the fact that Trump did
• 4:02
  Speaker 2: not mention crypto in the inauguration speech. I wasn't as
• 4:08
  Speaker 2: worried about that as much as I am just looking
• 4:11
  Speaker 2: at the actions that are coming out a lot of
• 4:13
  Speaker 2: these executive orders. I remember there's a lot of things
• 4:15
  Speaker 2: that had to be unwound from the Biden administration. So
• 4:18
  Speaker 2: I anticipate that we will continue to see that. But
• 4:20
  Speaker 2: I don't think we're really seeing the need for any
• 4:23
  Speaker 2: real executive order. I know a lot of people are
• 4:25
  Speaker 2: wanting to say, hey, we want to hear the executive
• 4:27
  Speaker 2: order of a bitcoin potential here when you look at
• 4:30
  Speaker 2: a reserve, a strategic reserve, but even that I think
• 4:34
  Speaker 2: will probably take some time to really put in place.
• 4:36
  Speaker 2: So I'm still very very positive of where this is
• 4:38
  Speaker 2: going to go in the market, and even Bitcoin after
• 4:41
  Speaker 2: last night, which took a little bit of a downturn,
• 4:44
  Speaker 2: has all but recovered here this morning, so I think
• 4:47
  Speaker 2: the market is starting to take a look at where
• 4:49
  Speaker 2: this is going. Pro bitcoin, Mark Uda, this is the
• 4:52
  Speaker 2: point they were getting. He's going to replace Gary Gensler
• 4:54
  Speaker 2: as the acting chair of the SEC while everything gets
• 4:57
  Speaker 2: in order for the new chair coming in. That's a
• 5:00
  Speaker 2: big deal because obviously we need that active on day one,
• 5:03
  Speaker 2: which I think now we know what the team is
• 5:05
  Speaker 2: going to look like, which is going to be u
• 5:07
  Speaker 2: Ada Hester Peers to lead up this crypto task force,
• 5:10
  Speaker 2: and then of course we've got the new chair coming in,
• 5:12
  Speaker 2: so lots of cool stuff coming. Market dips a little
• 5:17
  Speaker 2: bit after the inauguration with no executive orders yet despite
• 5:19
  Speaker 2: crypto involvement. Again, I don't think we need them. Yes,
• 5:23
  Speaker 2: could an executive order come in from a bitcoin executive
• 5:27
  Speaker 2: or a Bitcoin strategic reserve. Yeah, that's the big one
• 5:29
  Speaker 2: that I think everybody's asking for and wanting. That will
• 5:33
  Speaker 2: be one of the major implications I think on the
• 5:37
  Speaker 2: strategy that Trump's office is trying to move forward on.
• 5:40
  Speaker 2: So you'll probably think through that one a little bit
• 5:43
  Speaker 2: more and continue to take a look other things that
• 5:45
  Speaker 2: are coming in Right now. Trump has now signed two
• 5:48
  Speaker 2: hundred executive orders, already a lot coming in, but this
• 5:52
  Speaker 2: is more than the total signed out by Biden in
• 5:56
  Speaker 2: his entire term, and nearly as much as Trump's entire
• 5:58
  Speaker 2: previous term. He understands the art and the need for these,
• 6:03
  Speaker 2: So we're going to see a lot of changes coming.
• 6:05
  Speaker 2: If this is just getting started, the unwinding of a
• 6:09
  Speaker 2: government that has been so bureaucratic over the last really
• 6:14
  Speaker 2: four years, but even more so if you look back
• 6:16
  Speaker 2: as far as twelve years, even into the Obama administration,
• 6:20
  Speaker 2: there is a lot that is going to be unwound
• 6:23
  Speaker 2: I think in this administration going forward. I want to
• 6:26
  Speaker 2: go to a clip real quick because this will get
• 6:27
  Speaker 2: into a little bit of why maybe there were no
• 6:31
  Speaker 2: executive orders yesterday. This is Brian Armstrong coming in from Coinbase.
• 6:34
  Speaker 1: Take a look.
• 6:36
  Speaker 4: Did you expect, by the way, an executive order of
• 6:38
  Speaker 4: some sort yesterday? I mean that seems to be a
• 6:41
  Speaker 4: little bit of the indication of what happened to the
• 6:42
  Speaker 4: extent we're looking at bitcoins price as a signal of something.
• 6:46
  Speaker 5: Yeah, it's been one day. I'm not too worried.
• 6:49
  Speaker 4: What is the executive order that you're looking for.
• 6:51
  Speaker 5: Well, I think the first one would be just directing
• 6:54
  Speaker 5: the agencies of the US government to collaborate and work
• 6:57
  Speaker 5: toward getting some clear rules passed. That's what would really
• 6:59
  Speaker 5: allow capital to flow into the United States and for
• 7:01
  Speaker 5: startups to be built there. I think just rearticulating some
• 7:05
  Speaker 5: of these Bill of rights, if you will, that people
• 7:07
  Speaker 5: have the right to self custodial wallets and the right
• 7:10
  Speaker 5: to own bitcoin without being persecuted or being debanked. That
• 7:13
  Speaker 5: was a big issue in the past four years as
• 7:15
  Speaker 5: well Operation Show point two point zero so called. So
• 7:18
  Speaker 5: those are some of the things I think that could
• 7:19
  Speaker 5: be done with executive orders, but it's really going to
• 7:21
  Speaker 5: take Congress and legislation, y all right.
• 7:24
  Speaker 2: So with that, I think Armstrong will also kind of
• 7:26
  Speaker 2: in my you know, my belief is that this is
• 7:28
  Speaker 2: all coming. And you look at this right now, Trump
• 7:32
  Speaker 2: vows to block US CBDC development, which is reaffirming his
• 7:36
  Speaker 2: stance on against a government controlled digital currency. I think
• 7:39
  Speaker 2: this flows into a positive mechanism for crypto in general.
• 7:43
  Speaker 2: So all of this still very good for crypto, and
• 7:46
  Speaker 2: of course the market holding up fairly well. I think
• 7:49
  Speaker 2: under the circumstances of what we're seeing, I think we
• 7:52
  Speaker 2: are still ready for the next phase, which is what
• 7:55
  Speaker 2: everybody's watching. Here's Armstrong looking a little bit deeper on
• 8:00
  Speaker 2: on his analysis of Trump's meme coin, and I'll get
• 8:02
  Speaker 2: into that in a second.
• 8:03
  Speaker 5: Take a look, Well, look, I think anybody should be
• 8:06
  Speaker 5: able to create a collectible or piece of artwork. There's
• 8:09
  Speaker 5: lots of different types of crypto commodities, there's hopefully securities
• 8:12
  Speaker 5: in the future, but these kinds of collectibles or meme coins,
• 8:15
  Speaker 5: I think is something that anybody should be able to
• 8:17
  Speaker 5: put out there. As Coinbase, we don't really try to
• 8:19
  Speaker 5: take a position or recommend any one asset versus another.
• 8:22
  Speaker 5: We really just try to look at what are our
• 8:24
  Speaker 5: minimum listing standards from a compliance and legal point of view,
• 8:27
  Speaker 5: and then we let the market the side.
• 8:28
  Speaker 4: But just the concept of a two there's the sort
• 8:30
  Speaker 4: of two components. The concept of a meme coin is
• 8:34
  Speaker 4: that good or bad for crypto, meaning if enough people
• 8:37
  Speaker 4: participate in that and ultimately lose because more people will
• 8:40
  Speaker 4: lose than win for the most part in these types
• 8:42
  Speaker 4: of things. And then the fact that the President of
• 8:44
  Speaker 4: the United States and his family, his sons are obviously
• 8:47
  Speaker 4: involved in a project themselves, does that concern you?
• 8:50
  Speaker 5: So you always have to be a little cautious. Like
• 8:52
  Speaker 5: with meme coins, it's not something I'm personally like trading
• 8:55
  Speaker 5: all the time. I'm not particularly interested in it, but
• 8:57
  Speaker 5: it could evolve into something very powerful, and so you'll
• 9:00
  Speaker 5: have to kind of keep an open mind about.
• 9:01
  Speaker 4: These things and the family part, you.
• 9:04
  Speaker 5: Know, Like I said, I think anybody should be able
• 9:06
  Speaker 5: to go and do this. I don't have too much
• 9:07
  Speaker 5: of an opinion on that.
• 9:09
  Speaker 2: All right, So he hit on a few points there,
• 9:11
  Speaker 2: But I think one of the things that was asked
• 9:14
  Speaker 2: there is when you look at investing in general, it
• 9:17
  Speaker 2: doesn't really matter if it's a meme coin. You know,
• 9:20
  Speaker 2: you look at the traditional stock market. There's a lot
• 9:23
  Speaker 2: of MidCap and low caps within the stock market that
• 9:26
  Speaker 2: I think would be considered that kind of investment. So
• 9:29
  Speaker 2: it's really up to the investor themselves. Another thing that
• 9:31
  Speaker 2: is different about blockchain is meme coins and a lot
• 9:34
  Speaker 2: of these kinds of blockchain initiatives really have the opportunity
• 9:38
  Speaker 2: to do something quite a bit different, whether it's a
• 9:40
  Speaker 2: loyalty system, some sort of operational or utility function that
• 9:45
  Speaker 2: many of these projects have. That's what makes blockchain so unique.
• 9:49
  Speaker 2: So I think, you know, Brian's defense of meme coins,
• 9:52
  Speaker 2: I think needs to step it up a lot. I
• 9:53
  Speaker 2: think there is an opportunity here for so much more innovation,
• 9:57
  Speaker 2: and we still don't even know what the capacity of
• 10:01
  Speaker 2: this will be in the future around technology advancement. So
• 10:04
  Speaker 2: blockchain has really opened up a lot of people's eyes
• 10:06
  Speaker 2: of how this is going to play out. With that,
• 10:09
  Speaker 2: you got to look at a course on the topic
• 10:11
  Speaker 2: of technology, who were in attendance there? You had Open
• 10:15
  Speaker 2: Sam Altman there, of course Elon muss On Dupritchai, Tim Cook, Zuckerberg,
• 10:20
  Speaker 2: Showshew who is the TikTok CEO, and then of course Bezos. Listen, guys,
• 10:24
  Speaker 2: this is Silicon Valley. They put him in office along
• 10:28
  Speaker 2: I think with the crypto community Brian Armstrong right there
• 10:31
  Speaker 2: from coinbase. But I think this also sets the tone
• 10:34
  Speaker 2: for just innovation in the United States. And I think
• 10:37
  Speaker 2: that's the point that maybe Trump and his administration is
• 10:40
  Speaker 2: trying to put forth is that we are going to
• 10:43
  Speaker 2: meeting the United States going to power through innovation in
• 10:46
  Speaker 2: a way you've never seen before. You think the two
• 10:49
  Speaker 2: thousands were hot for the United States in terms of innovation,
• 10:53
  Speaker 2: I think now we are coming into the twenty twenty
• 10:55
  Speaker 2: five's and twenty five years later, I think we're ready
• 10:58
  Speaker 2: to set something up big. Now, how does that play
• 11:01
  Speaker 2: out into the markets? What most people are saying along
• 11:03
  Speaker 2: the mag seven Yeah, I would say somewhat, But look
• 11:06
  Speaker 2: at that long in crypto thirteen percent up, So that's
• 11:09
  Speaker 2: a big difference in January of twenty five versus December
• 11:13
  Speaker 2: just a little bit back, and then all the way
• 11:15
  Speaker 2: back into November. Already, people, I think are seeing the
• 11:18
  Speaker 2: effects of this. And with that, you've got to look
• 11:21
  Speaker 2: at some of the things that are happening within the
• 11:23
  Speaker 2: markets from a banking sector side, and I have a
• 11:26
  Speaker 2: clip here that is the Bank of America CEO talking
• 11:30
  Speaker 2: about where the future is going.
• 11:32
  Speaker 6: Take a look crypto versus stable assets and digital movement
• 11:36
  Speaker 6: of money, because we already move the vast, vast majority
• 11:39
  Speaker 6: of our money digitally. Consumers do, our copies do. And
• 11:42
  Speaker 6: so the question is what's the business practice so that
• 11:46
  Speaker 6: you have to have to move another type of currency.
• 11:49
  Speaker 6: So if they live, if the rules come in and
• 11:51
  Speaker 6: make it a real thing that you can actually do
• 11:53
  Speaker 6: business with, you will find that the banking system will
• 11:56
  Speaker 6: come in hard on the transactional side of it, not
• 11:59
  Speaker 6: a non as transactional, verified, et cetera, because we have to,
• 12:02
  Speaker 6: because it's just another way our customers is.
• 12:04
  Speaker 1: Going to have.
• 12:04
  Speaker 4: The thing was the possibility that Bitcoin and some of
• 12:07
  Speaker 4: these cryptocurrencies actually are a threat to the US dollar.
• 12:09
  Speaker 4: Its Scott Besson's talked about needing the US dollar to
• 12:11
  Speaker 4: be super powerful.
• 12:13
  Speaker 1: Is it a threat?
• 12:14
  Speaker 6: I think there's a whole bunch of dynamics about all
• 12:17
  Speaker 6: the trade and all the consumption of the US consumer
• 12:19
  Speaker 6: and all this stuff that goes on. But I think
• 12:20
  Speaker 6: we do need a strong US dollar. We need a
• 12:22
  Speaker 6: US dollar userve currency. It's good for our country. But
• 12:25
  Speaker 6: what I'm saying is if you go down the street
• 12:27
  Speaker 6: here and you go in and charge and buy lunch,
• 12:30
  Speaker 6: if you can pay with visa, MasterCard, a debit card,
• 12:34
  Speaker 6: Apple Pay, et cetera, et cetera, this will just be
• 12:37
  Speaker 6: another form of payment in an instaneous cash transfer. And
• 12:40
  Speaker 6: so I think if it becomes regulatory, okay, which it
• 12:45
  Speaker 6: wasn't before. And that's one of the issues you'll see
• 12:47
  Speaker 6: the banking system enter with it. We have hundreds of
• 12:49
  Speaker 6: patents on the blockchain already. We know how to enter
• 12:52
  Speaker 6: the field. When you get to the investment side and
• 12:54
  Speaker 6: the you know, the bitcoin stuff, that's really a separate question.
• 12:57
  Speaker 6: That's more investment side from the transaction side. I think
• 12:59
  Speaker 6: we'll see the bankings make mose.
• 13:01
  Speaker 2: All right, guys, let me clear some things up here,
• 13:03
  Speaker 2: because I'm still confused sometimes how mainstream media doesn't understand
• 13:07
  Speaker 2: the connection here of what blockchain is doing. And you
• 13:10
  Speaker 2: know soors and he asked him if it's an alternative
• 13:13
  Speaker 2: to the dollar, this is not a scenario that replaces
• 13:16
  Speaker 2: the dollar. The dollar is still the underlying monetary system.
• 13:19
  Speaker 2: I don't think that really is going to be placed
• 13:21
  Speaker 2: over you any short period of time. Now, granted could
• 13:24
  Speaker 2: be inflated away, sure, yes, that's a possibility. But the
• 13:27
  Speaker 2: functionality of blockchain essentially is simply the rails in which
• 13:31
  Speaker 2: value is transacted on same thing as Visa MasterCard and
• 13:34
  Speaker 2: American Express.
• 13:35
  Speaker 1: That's credit card. It's not a dollar.
• 13:37
  Speaker 2: It's a credit card system that is transacting on the dollar,
• 13:40
  Speaker 2: same thing that would happen on USDC, Solana, whatever blockchain
• 13:45
  Speaker 2: you want to go out there and pay with the
• 13:47
  Speaker 2: opportunity I think is going to be big. Here's where
• 13:50
  Speaker 2: the real separation comes in this whole situation with these banks,
• 13:54
  Speaker 2: the merchant services that's been the core cornerstone of how
• 13:58
  Speaker 2: all businesses are taking credit card payments. And because of
• 14:01
  Speaker 2: that MasterCard, Visa americ Express, all these guys have had
• 14:05
  Speaker 2: a lock on those fees that could be changing very soon.
• 14:09
  Speaker 2: And if that changes, that is an existential threat and
• 14:14
  Speaker 2: shift in the financial system. So it's not surprising to
• 14:18
  Speaker 2: see the b of A CEO talk about this. Now
• 14:21
  Speaker 2: you talk about that and the potential here of people
• 14:25
  Speaker 2: just being aware of it because that remember, you've got
• 14:27
  Speaker 2: to still have a certain level of adoption that's going
• 14:30
  Speaker 2: to have to take place. Well, Ripple's right out there
• 14:33
  Speaker 2: in DC, and what are they doing. They're dropping ads
• 14:38
  Speaker 2: all over DC. American leadership in crypto.
• 14:41
  Speaker 1: I love that. I love that statement, American leadership in crypto.
• 14:44
  Speaker 1: So they are.
• 14:45
  Speaker 2: Coining themselves as an American blockchain company, obviously aligned with
• 14:50
  Speaker 2: what this Trump administration is going to be doing with
• 14:52
  Speaker 2: crypto in general. But the big thing here people are
• 14:55
  Speaker 2: going to start asking who are these big players that
• 14:57
  Speaker 2: are coming into the market. Much like these banking initiatives
• 15:02
  Speaker 2: that have taken place over the last twenty thirty years,
• 15:04
  Speaker 2: I think we're seeing a phase of a new finance
• 15:08
  Speaker 2: technology area that is going to be quite unique in
• 15:11
  Speaker 2: the future. Now, let's talk about meme coins for a second.
• 15:14
  Speaker 2: Trump and doge mean coins get ETF filings. This course
• 15:17
  Speaker 2: is getting kind of interesting that both the Trump and
• 15:20
  Speaker 2: the Doge mean coins are getting the ETF side, especially
• 15:23
  Speaker 2: as Trump's beginning his second term. I don't know, do
• 15:25
  Speaker 2: you guys like this idea of meme coins going into
• 15:29
  Speaker 2: ETFs or not?
• 15:30
  Speaker 1: I don't know.
• 15:31
  Speaker 2: Give me some comments down below. Let me know what
• 15:32
  Speaker 2: you guys think. You look at a couple of points
• 15:34
  Speaker 2: here within this James Seyferd. He's hitting on that very issue.
• 15:38
  Speaker 2: Is that, man, look at the massive list of current
• 15:40
  Speaker 2: digital asset ETF filings that I'm aware of. Look at
• 15:43
  Speaker 2: the numbers here, guys. It is unbelievable how many are
• 15:47
  Speaker 2: coming in on this. And this is the thing. If
• 15:50
  Speaker 2: we see any of these start to shake close with
• 15:52
  Speaker 2: the SEC and get approved, we could see a lot
• 15:54
  Speaker 2: of activity coming into digital assets in a big way.
• 15:58
  Speaker 1: Eric Baalshoun says it's right here.
• 16:00
  Speaker 2: He's talking about crypto in general, and this was in
• 16:02
  Speaker 2: reference to an Eth scenario, because I know everybody's asking
• 16:05
  Speaker 2: about why isn't Eth moving right now? Well, he says,
• 16:09
  Speaker 2: this isn't it rare to see a defection like this
• 16:11
  Speaker 2: in crypto? And he's spoked talking about someone who's been
• 16:15
  Speaker 2: a big dot eth person. I've never seen one, although
• 16:18
  Speaker 2: I'm just tourists. Seems like a bad sign, replies when NK,
• 16:21
  Speaker 2: he's not alone either. So the point is is that
• 16:23
  Speaker 2: there's been a little bit of a pushback both on
• 16:26
  Speaker 2: the dev side. I know there's a lot of drama
• 16:27
  Speaker 2: going on on crypto Twitter right now with Ethereum and
• 16:30
  Speaker 2: metallic and all that. The point is is that I
• 16:32
  Speaker 2: think Eth is still the place of security. I think
• 16:36
  Speaker 2: the scenario that's playing out it just hasn't seen the
• 16:39
  Speaker 2: time yet. Is there an opportunity for Eth to continue
• 16:42
  Speaker 2: its move up? Yeah, of course there is now will
• 16:44
  Speaker 2: it perform like what we've seen some of these other
• 16:47
  Speaker 2: blockchains moving here recently, especially if you look at Solana,
• 16:50
  Speaker 2: Swee and others that have been able to take on
• 16:53
  Speaker 2: a lot of that growth, or is Solana the chain
• 16:57
  Speaker 2: that is actually going to lead us into this next
• 16:59
  Speaker 2: crypto bull run.
• 17:00
  Speaker 1: That's a big question.
• 17:01
  Speaker 2: If you look at this, Eth looks like it's bottomed
• 17:04
  Speaker 2: out while everyone else is giving up. Trump is buying
• 17:06
  Speaker 2: Eth and we'll see maybe a rally soon, So stay patient.
• 17:09
  Speaker 2: Everybody's looking at the potential here of Ethereum starting to move,
• 17:13
  Speaker 2: and it's very possible that ETH could still get that
• 17:16
  Speaker 2: three X move towards ten K, which is what everybody's
• 17:19
  Speaker 2: asking for now. The reason that everybody's complaining it is
• 17:22
  Speaker 2: what you see right here is these rising gas fees.
• 17:25
  Speaker 2: You guys have seen these scenarios before, and here we
• 17:28
  Speaker 2: are again more high gas fees for Ethereum. It continues
• 17:31
  Speaker 2: to cause frustration not only within the devs, but also
• 17:34
  Speaker 2: with I think within the users and many people who
• 17:37
  Speaker 2: are now selectively going other ways to be able to
• 17:41
  Speaker 2: move projects around. And that's everything from Avalanche where they're
• 17:45
  Speaker 2: over on base. If you're trying to move USDC, people
• 17:48
  Speaker 2: are opting out of the ETH ecosystem to start to
• 17:51
  Speaker 2: use that. Taking a look at some of the market
• 17:54
  Speaker 2: right now, you've got Solana, of course up considerably on
• 17:57
  Speaker 2: the day, almost seven percent after a nice little run
• 18:00
  Speaker 2: over the weekend. This is the four hours, so nice
• 18:02
  Speaker 2: little move on this last twelve hours today. Other things
• 18:06
  Speaker 2: you got to look at as Bitcoin has started to
• 18:08
  Speaker 2: recover as well today, coming from about one to one
• 18:13
  Speaker 2: late last yesterday into a position right now at one
• 18:15
  Speaker 2: oh six. So market's still holding fairly tight. And if
• 18:19
  Speaker 2: you look at the meme coins, we'll go over to
• 18:20
  Speaker 2: the trump coin real quick, he all not he The
• 18:23
  Speaker 2: trump coin itself has also started to pull back off
• 18:26
  Speaker 2: of a thirty four dollars low on its most recent
• 18:29
  Speaker 2: trading and of course now hovering right at around forty
• 18:32
  Speaker 2: three market cap on this eight point eight billion. That's
• 18:36
  Speaker 2: a meme coin coming into the top twenty five. So
• 18:41
  Speaker 2: as you can see, a lot's happening, and I think
• 18:43
  Speaker 2: it's only going to heat up from here. So if
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• 18:55
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• 18:58
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• 19:01
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• 19:09
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