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SEC Delay Crashing Crypto🔥TradFi Wins Again🚨 · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Let's get into it today.
• 0:01
  Speaker 2: The SEC has delayed again and this of course is
• 0:04
  Speaker 2: causing some pressure on crypto crashing it and you'll see
• 0:08
  Speaker 2: what I'm saying, so stick around for that.
• 0:09
  Speaker 1: Before we get started.
• 0:10
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• 0:44
  Speaker 2: I want to lead off right here with this tweet
• 0:46
  Speaker 2: by Eleanor and there's some interesting points I want to
• 0:49
  Speaker 2: draw attention to, and that is in reference to the
• 0:52
  Speaker 2: canceling of the planned meeting today which was done last
• 0:55
  Speaker 2: night for a supposed to list scheduling conflict. I don't
• 0:59
  Speaker 2: believe that at all, but what a spokesperson has said
• 1:03
  Speaker 2: interesting words here from this spokesperson. If Eleanor got this
• 1:07
  Speaker 2: exactly right due to an unforeseen scheduling issue, this is BS.
• 1:14
  Speaker 2: I'm pretty sure that this was something else, And if
• 1:17
  Speaker 2: you follow along in the narrative here, you'll notice something else.
• 1:21
  Speaker 1: Part of the reason, I'm told, could be.
• 1:24
  Speaker 2: That tokenization section of the Clarity Act, section ten five
• 1:28
  Speaker 2: oh five has been the subject of much back and
• 1:31
  Speaker 2: forth between stakeholders. What stakeholders would we be talking about here, guys.
• 1:37
  Speaker 2: There's only two that would be involved here, and one,
• 1:40
  Speaker 2: of course is the DTCC.
• 1:42
  Speaker 1: The other could be Citadel.
• 1:43
  Speaker 2: So did they have a lot of pressure on what
• 1:47
  Speaker 2: the SEC was about to roll out? I think so,
• 1:50
  Speaker 2: and I think that's why you got this pause. Going
• 1:53
  Speaker 2: forward further into this, you've got to look at what
• 1:55
  Speaker 2: the market is saying right here, and I want you,
• 1:57
  Speaker 2: guys to step back from this for a second. Listen
• 2:00
  Speaker 2: to what Ted says here, and then I'll kind of
• 2:02
  Speaker 2: correct this. Because black Rock supporting Clarity, Fideli, Goldman, Trump
• 2:06
  Speaker 2: City Bank know and I'll show you and tell you
• 2:09
  Speaker 2: why Clarity is coming. It's only a matter of not
• 2:12
  Speaker 2: of when not if. Listen, there's a lot out there
• 2:16
  Speaker 2: on crypto Twitter right now. And if you think the
• 2:19
  Speaker 2: banks are supporting clarity, for the most part, there are
• 2:23
  Speaker 2: a handful that have, you know, tokenized projects that yes,
• 2:27
  Speaker 2: this would help, But for the most part, for depository banks,
• 2:31
  Speaker 2: this is not what they're talking about. Let me go
• 2:34
  Speaker 2: to a clip that kind of shows you what I'm saying.
• 2:36
  Speaker 2: Take a look.
• 2:38
  Speaker 3: We're certainly not given up on trying to get some
• 2:40
  Speaker 3: more improvements to the ACT, because let's look at the
• 2:44
  Speaker 3: US financial system. Smaller banks play a very important role
• 2:50
  Speaker 3: in the rural communities and throughout America, and if you
• 2:54
  Speaker 3: are having a reward system on the deposits, it will
• 2:57
  Speaker 3: it could have a detrimental impact on their deposits and
• 3:01
  Speaker 3: therefore their ability to provide lending and access to credit
• 3:06
  Speaker 3: in parts of the US that crypto won't reach, and frankly,
• 3:10
  Speaker 3: the large banks don't reach. So I'm worried about it
• 3:13
  Speaker 3: from that perspective, all.
• 3:16
  Speaker 2: Right, So there is no way they're given up yield.
• 3:18
  Speaker 2: It's absolutely not gonna They are concerned about deposit flight, whether.
• 3:23
  Speaker 1: They believe the data or not.
• 3:25
  Speaker 2: That's what their cornerstone is. And you know what, I'm
• 3:28
  Speaker 2: beginning to think they might be right. They might be
• 3:31
  Speaker 2: right because people are getting so pissed off at the
• 3:34
  Speaker 2: banks that I think they're going to get the hell
• 3:36
  Speaker 2: out of there rather that whether this goes through or not.
• 3:39
  Speaker 2: And that's the kind of pushback you're having from the
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  Speaker 2: American people. Patrick McHenry kind of debunks the whole point,
• 3:48
  Speaker 2: and I want to.
• 3:48
  Speaker 1: Go a little bit further on what he says here,
• 3:50
  Speaker 1: But take a look.
• 3:52
  Speaker 4: These stable coin yields products have been out in the
• 3:55
  Speaker 4: marketplace for four and five years. You've not seen deposit flight,
• 3:59
  Speaker 4: but they've at their shot otherwise, Clarity Act will will
• 4:03
  Speaker 4: be passed later this year, and they've got to do
• 4:06
  Speaker 4: everything they can to maintain their political power. They're tooting
• 4:09
  Speaker 4: their own horn in Washington very loudly this August that
• 4:13
  Speaker 4: they are showing their political power. We'll see in the
• 4:15
  Speaker 4: fall if that in fact matters to the votes of
• 4:19
  Speaker 4: the Clarity Act. I don't think it will, though there
• 4:21
  Speaker 4: are making elastic did shefferd. That's what all the banking
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  Speaker 4: industry can do at this point is to try to
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  Speaker 4: bring this up at town hall meetings and when people
• 4:31
  Speaker 4: are at home and out of Washington. It's falling on
• 4:34
  Speaker 4: deaf fiars, though.
• 4:37
  Speaker 2: I don't agree Patrick, it is not falling on deaf ears.
• 4:40
  Speaker 2: You got a Senate delayed on getting clarity through With
• 4:45
  Speaker 2: all of this back and forth, you started seeing local
• 4:48
  Speaker 2: community banks actually weighing in enough to sway Republicans out
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  Speaker 2: of this, and now you've got a potential where Republicans
• 4:57
  Speaker 2: may not even be able to pull this across the line,
• 5:00
  Speaker 2: much less the Democrats. This is a mess and it
• 5:04
  Speaker 2: concerns me unless there is a major shift in the
• 5:06
  Speaker 2: banks are winning. Guys, do not let you don't think
• 5:09
  Speaker 2: that the banks.
• 5:10
  Speaker 1: Are not winning. They are winning.
• 5:12
  Speaker 2: So this BS that's out there on crypto Twitter right now,
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  Speaker 2: do not think that that is the case. These guys
• 5:17
  Speaker 2: are fighting tooth and nail for that yield and they
• 5:20
  Speaker 2: are going to get it one way or another. And
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  Speaker 2: I think whether this goes through or doesn't, I think
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  Speaker 2: the American people are starting to see really what to do,
• 5:29
  Speaker 2: and there's some solutions that are coming that I think
• 5:32
  Speaker 2: may put more pressure on the banks than not. And
• 5:34
  Speaker 2: it doesn't need clarity, So think about that before we
• 5:38
  Speaker 2: start to call it over on all of this. Let's
• 5:41
  Speaker 2: talk about crypto being dead. The chatter is now spiking
• 5:44
  Speaker 2: on social media and Santimand is out there pushing this.
• 5:48
  Speaker 2: You guys have seen this before. Let me kind of
• 5:50
  Speaker 2: shoot up on this chart so you can see it
• 5:52
  Speaker 2: a little bit better. But you'll notice that we have
• 5:54
  Speaker 2: seen it in various points across the history of crypto.
• 5:59
  Speaker 2: It is a common thing around fear, fearful wolves, and
• 6:03
  Speaker 2: if you look at the crypto fear and greed in general.
• 6:06
  Speaker 2: I mean essentially, we have not necessarily, if anything, we
• 6:09
  Speaker 2: are on a lower high right here in terms of
• 6:13
  Speaker 2: a trend line, and we haven't been able to break
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  Speaker 2: out of this area around thirty six right now, and
• 6:19
  Speaker 2: it is a hold zone right now that has been
• 6:22
  Speaker 2: hovering for quite some time.
• 6:23
  Speaker 1: So I don't know. This may be the.
• 6:26
  Speaker 2: Thing that Tom Lee keeps saying is that we are
• 6:28
  Speaker 2: maybe going to have one last push, and of course
• 6:31
  Speaker 2: the clarity issue is going to be probably the catalyst
• 6:34
  Speaker 2: for all of this. Here's bitcoin. If you look at
• 6:36
  Speaker 2: the trend line right here and just on the daily
• 6:39
  Speaker 2: it is starting to break that trend line. And if
• 6:41
  Speaker 2: that is the case, you know that fifty seven k
• 6:44
  Speaker 2: range is possible within bitcoin in general.
• 6:48
  Speaker 1: So right now is the breakthrough.
• 6:50
  Speaker 2: And even with the fact that we've got a little
• 6:53
  Speaker 2: bit of SEC somewhat. I actually you can't even say
• 6:57
  Speaker 2: that now because the SEC back and away for right.
• 7:00
  Speaker 2: But of course the question is is what were they
• 7:02
  Speaker 2: going to do that made everybody so nervous. This was
• 7:06
  Speaker 2: not a scheduling conflict. This was something that was nervous,
• 7:08
  Speaker 2: and of course it has spooked the market. And this
• 7:11
  Speaker 2: is where we are right now.
• 7:13
  Speaker 1: XRP.
• 7:14
  Speaker 2: This is another concern. Even though seventy two million in
• 7:17
  Speaker 2: tokens were purchased in twenty four hours, we are not
• 7:21
  Speaker 2: seeing the chart pay homage to XRP because it did
• 7:25
  Speaker 2: not move it. So no matter that whales are active,
• 7:29
  Speaker 2: we're seeing no movement here on the daily. Slightly up yesterday,
• 7:34
  Speaker 2: but no movement on the daily now. I know I
• 7:36
  Speaker 2: had garethon this week and he talked a little bit
• 7:38
  Speaker 2: more bullish around this chart, and maybe this is the
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  Speaker 2: point at one dollar. But if it does break the
• 7:45
  Speaker 2: one dollar consistently and we close on a week, this
• 7:48
  Speaker 2: is where I think we need to be paying a
• 7:50
  Speaker 2: real close attention to other tokens. This is a top
• 7:52
  Speaker 2: three token out there, guys right now that's on the
• 7:54
  Speaker 2: fence of a potential collapse. So beyond the lookout for
• 7:59
  Speaker 2: these thing to consider here, guys, is really the SEC.
• 8:03
  Speaker 2: I am very very interested in what they are going
• 8:07
  Speaker 2: to do next because this has a huge potential to
• 8:12
  Speaker 2: be a master stroke of innovation or destruction coming from
• 8:17
  Speaker 2: the SEC. Whether they are in with the guys in
• 8:20
  Speaker 2: DC or they're in with the tradfi Old Guard, that's still.
• 8:25
  Speaker 1: Up to be determined. We'll watch very closely.
• 8:35
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• 8:37
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• 8:41
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