Latest / The Paul Barron Crypto Show / Elites PANIC As Crypto Regulation Approaches!🚨w/ Cody Carbone | Digital Chamber🔥

Transcript

Elites PANIC As Crypto Regulation Approaches!🚨w/ Cody Carbone | Digital Chamber🔥 · The Paul Barron Crypto Show

• 0:05
  Speaker 1: Tons of things happening around cryptoregulation. And also one of
• 0:08
  Speaker 1: the biggest categories that we are going to be watching
• 0:11
  Speaker 1: very soon is going to be token is securities and stocks.
• 0:14
  Speaker 1: We're going to break that down for you because we
• 0:15
  Speaker 1: may have a time right now where the elites are
• 0:18
  Speaker 1: beginning to panic. Stay tuned for that. My name is
• 0:20
  Speaker 1: Paul Barrel. Welcome back to the show, and of course
• 0:22
  Speaker 1: I want to thank our sponsor, and that is Coinbase.
• 0:24
  Speaker 1: Coinbase is a place where you guys can get into
• 0:26
  Speaker 1: your own crypto journey, and many of you that are
• 0:28
  Speaker 1: brand new, I know we have a lot of new
• 0:30
  Speaker 1: viewers here on the show. First of all, welcome in.
• 0:33
  Speaker 1: I know many of you are coming here specifically to
• 0:36
  Speaker 1: look at crypto cryptoregulation, and of course if you're going
• 0:39
  Speaker 1: to make a trade, well this is a place to
• 0:41
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• 0:45
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• 0:47
  Speaker 1: get your first trade in action, so check it out
• 0:51
  Speaker 1: for sure. I want to have our crypto regulatory expert
• 0:55
  Speaker 1: join us today and that's mister Cody Carbone.
• 0:57
  Speaker 2: How are you doing well, Paul, thanks for Yeah.
• 1:01
  Speaker 1: So you got a new gig there at the Digital Chamber.
• 1:03
  Speaker 1: I see you have a three letter title now.
• 1:06
  Speaker 3: The CEO first of all letters. Listen.
• 1:10
  Speaker 1: A lot of things happening right now, Cody within not
• 1:13
  Speaker 1: only the big beautiful bill passing, we'll talk about that
• 1:16
  Speaker 1: in a minute, regulatory framework right up to the edge
• 1:20
  Speaker 1: of passing right now with the Genius Act market structure,
• 1:23
  Speaker 1: so much stuff happening. One of the things though, I
• 1:26
  Speaker 1: wanted to get your opinion on, is what's going on
• 1:28
  Speaker 1: with Robinhood. They did their most recent announcement this last
• 1:32
  Speaker 1: week and they were talking about tokenized equity and tokenized securities,
• 1:36
  Speaker 1: and this was of non public companies.
• 1:38
  Speaker 3: This was open Ai.
• 1:39
  Speaker 1: Open Ai kind of got a little twist on it
• 1:42
  Speaker 1: saying hey, you can't do that, and you see the
• 1:44
  Speaker 1: response by Elon himself, and then of course Vlad's kind
• 1:47
  Speaker 1: of talking about this that you know, limited stock token
• 1:50
  Speaker 1: giveaways on both SpaceX and open Ai. This is something
• 1:54
  Speaker 1: that's going to be coming. Do you think we're going
• 1:56
  Speaker 1: to see regulations start pouring in around token is securities
• 2:00
  Speaker 1: from whether it's the sec pushing harder or maybe even
• 2:04
  Speaker 1: Capitol Hill starting to pay attention to this. What are
• 2:06
  Speaker 1: your thoughts?
• 2:07
  Speaker 2: Absolutely, this is the future. This is where the markets
• 2:10
  Speaker 2: are going. People are sick and tired of the limited
• 2:15
  Speaker 2: windows between nine thirty and four to thirty Eastern. They
• 2:18
  Speaker 2: want twenty four to seven trading. Digital assets gave them
• 2:21
  Speaker 2: a taste of that. They want instantaneous trading. They want
• 2:24
  Speaker 2: more liquidity and so tokenized equities, tokenized bonds. This is
• 2:28
  Speaker 2: the future and this is where we're going. The SEC
• 2:30
  Speaker 2: has already put out some guidance documents and some requests
• 2:34
  Speaker 2: for comments with hester pursus forty eight questions that she
• 2:37
  Speaker 2: did a few months ago that touched on this topic.
• 2:39
  Speaker 2: So one hundred percent, the SEC is already looking at this.
• 2:43
  Speaker 2: They follow where the market goes, and with Robin Hood
• 2:46
  Speaker 2: doing this launch just this week, I expect to see
• 2:50
  Speaker 2: guidance and conversations on Capitol Hill picking up on this
• 2:53
  Speaker 2: very rapidly.
• 2:54
  Speaker 1: Of course, you saw you know that last tweet. People
• 2:56
  Speaker 1: coming to Vlad's defense on this point being is that
• 2:59
  Speaker 1: it's going to open up the markets where an average
• 3:01
  Speaker 1: person can essentially get in a lot of this early
• 3:04
  Speaker 1: stage stuff which has been held off for IPOs, that
• 3:07
  Speaker 1: kind of fence it off from all of us. I
• 3:10
  Speaker 1: want to play a clip for you to see how
• 3:12
  Speaker 1: the market sees this going forward.
• 3:14
  Speaker 3: Take a look.
• 3:15
  Speaker 4: Should they be allowed to do that? The open Eyes
• 3:17
  Speaker 4: and spacexers of the world, in some cases don't even
• 3:20
  Speaker 4: want these guys to have the shares, meaning they don't
• 3:22
  Speaker 4: want Robinhood to own the shares. They don't want anybody
• 3:24
  Speaker 4: owning is shues. They don't want the employees. They want
• 3:27
  Speaker 4: the employees to have some liquidity, but not too much liquidity,
• 3:30
  Speaker 4: so they don't want everybody to become bajillionaires.
• 3:33
  Speaker 2: Yet there's a.
• 3:34
  Speaker 5: Reason why retail investors don't have access to this.
• 3:38
  Speaker 4: You might as well be on FanDuel. Yeah, betting, that's
• 3:42
  Speaker 4: what it is. It's a bet people who are watching saying,
• 3:46
  Speaker 4: Melissa Andrew, I want access to this stuff and I
• 3:49
  Speaker 4: can't get access to it currently. Why are you trying
• 3:52
  Speaker 4: to stop me?
• 3:53
  Speaker 5: Then you could make the argument the entire other way,
• 3:56
  Speaker 5: that is, investors should have access to anything they want.
• 4:00
  Speaker 5: Guardrails correct, and the argument laws anti promost to protect you.
• 4:06
  Speaker 4: I mean, all I'm suggesting is there are people out
• 4:08
  Speaker 4: there who say, look, you're not protecting You're not protecting me.
• 4:11
  Speaker 4: You're protecting the man. All these things are pitched as
• 4:14
  Speaker 4: democratizing investing.
• 4:16
  Speaker 2: By the way, we would like.
• 4:17
  Speaker 4: To democratize investing. I think you want more We are
• 4:19
  Speaker 4: all about.
• 4:20
  Speaker 1: Right, all right, So it appears that the elites are
• 4:23
  Speaker 1: panicking there Cody a little bit worried about. Oh wait
• 4:26
  Speaker 1: a minute, we don't have the edge on the plubs anymore.
• 4:30
  Speaker 1: So how is this playing out? Do you think this
• 4:33
  Speaker 1: is going to get Are we going to see more
• 4:34
  Speaker 1: of this?
• 4:35
  Speaker 6: Yeah?
• 4:35
  Speaker 2: And this is about control for the elite and the
• 4:38
  Speaker 2: legacy financial institutions. They want to make sure that they
• 4:41
  Speaker 2: have full unanimous control over how the markets operate. I
• 4:45
  Speaker 2: think Andrew said it best there in that clip. This
• 4:47
  Speaker 2: is about democratizing finance. This is something that Robinhood has
• 4:51
  Speaker 2: pledged for a long time. I believe that's one of
• 4:52
  Speaker 2: their taglines. This is what cryptocommunity has pledged for a
• 4:56
  Speaker 2: long time, is by giving access to retail investors to
• 5:00
  Speaker 2: those markets that they have been kept out of for
• 5:03
  Speaker 2: so long, whether it's from regulation or it's just from
• 5:06
  Speaker 2: the institutions themselves. So one hundred percent, I believe this
• 5:09
  Speaker 2: is where everything is going, and regulation too often is
• 5:14
  Speaker 2: protecting the elites and not protecting and thinking about the
• 5:17
  Speaker 2: retail investors. I think with the Trump administration, we are
• 5:20
  Speaker 2: seeing a shift in mindset here where it's saying, Okay,
• 5:23
  Speaker 2: we need to make sure that investors, retail investors, mom
• 5:27
  Speaker 2: and pops have access to all of the wealth generation
• 5:30
  Speaker 2: opportunities that have only been provided to the very elite
• 5:33
  Speaker 2: for so long. And so how can we open those
• 5:36
  Speaker 2: doors well by providing more opportunity. And so eventually the
• 5:40
  Speaker 2: big boys, the open Ayes of the world, or the
• 5:42
  Speaker 2: Apples or the Amazon, they're going to have to get
• 5:44
  Speaker 2: on board because this is where it's going. And if
• 5:46
  Speaker 2: they want to continue having a say, they want leadership,
• 5:50
  Speaker 2: they want control, They're going to find ways to monetize
• 5:52
  Speaker 2: this themselves and to get on board.
• 5:54
  Speaker 1: I wanted to go to a tweet actually of yours,
• 5:57
  Speaker 1: and this was a good statement. I wanted to ask
• 5:59
  Speaker 1: you some questions behind the context of this tweet.
• 6:01
  Speaker 3: We're able to get this lowered.
• 6:02
  Speaker 1: This was in reference to cross border payments, and this
• 6:07
  Speaker 1: originally was pitched at five percent. They lowered at three
• 6:09
  Speaker 1: and a half. Now it's one percent. So small victories,
• 6:12
  Speaker 1: but when you look at cross border payments and the
• 6:15
  Speaker 1: alternative to companies that are in the market right now.
• 6:21
  Speaker 1: Who was fighting against you on this right now? Who
• 6:24
  Speaker 1: were your opponents that wanted this to happen.
• 6:28
  Speaker 2: It was mostly members of Congress from an immigration standpoint
• 6:33
  Speaker 2: who wanted to limit some remintance payments of immigrants sending
• 6:36
  Speaker 2: money to their families overseas.
• 6:39
  Speaker 3: And okay, they were.
• 6:40
  Speaker 2: Looking for pay for as left They being Republicans and
• 6:43
  Speaker 2: Congress were looking for pay fors left and right. When
• 6:45
  Speaker 2: we went in there and we explained how this can
• 6:47
  Speaker 2: impact digital assets and some of these borderless in technologies,
• 6:52
  Speaker 2: that's where we were start to We were able to
• 6:54
  Speaker 2: make inroads on lowering this tax and then creating new
• 6:57
  Speaker 2: exemptions from this tax. Right now, we have been told
• 7:01
  Speaker 2: from members of Congress, hey, we don't consider stable coins
• 7:05
  Speaker 2: or digital assets to be cash or funds, and that's
• 7:09
  Speaker 2: all that this applies to. So that telling us that
• 7:12
  Speaker 2: they are actually excluded from this remittance tax. So it
• 7:16
  Speaker 2: was more of immigration play. We weren't really fighting against
• 7:19
  Speaker 2: any traditional power broker from the market side. We've made progress.
• 7:23
  Speaker 2: I'm still concerned. The reason I fought so hard against
• 7:27
  Speaker 2: this is that it was the Biden administration just last
• 7:29
  Speaker 2: year that put out a rule proposal from the CFPP
• 7:32
  Speaker 2: that would designate stable coins and other digital assets as
• 7:36
  Speaker 2: funds and as cash, and so they would apply to
• 7:40
  Speaker 2: this text. That rule was null and void once the
• 7:42
  Speaker 2: Trump administration came in, So right now those digital assets
• 7:45
  Speaker 2: don't apply. But what's to say that in three years,
• 7:49
  Speaker 2: if we do have a democratic industry, it would apply
• 7:51
  Speaker 2: to them. So still going to continue to fight this
• 7:54
  Speaker 2: and we're going to have to work with the Treasury
• 7:56
  Speaker 2: Secretary once this bill is signed into law to make
• 7:58
  Speaker 2: sure that this tax does applied to any of the
• 8:01
  Speaker 2: digital asset technology that we've been fighting so hard to
• 8:03
  Speaker 2: get a regulatory framework for.
• 8:05
  Speaker 1: I want to get your opinion on with stable coins
• 8:09
  Speaker 1: becoming a reality, it does mean it's going to impact
• 8:12
  Speaker 1: a lot of the traditional powers that be, and that
• 8:15
  Speaker 1: would be companies like Visa, MasterCard, et cetera that could
• 8:18
  Speaker 1: get a play on not only transaction fees dropping if
• 8:21
  Speaker 1: we see peer to peer payments coming in, but also
• 8:24
  Speaker 1: just the stable coin yields in the use of stable coins,
• 8:27
  Speaker 1: including companies like PayPal, who has you know, py usd
• 8:30
  Speaker 1: and others out there with Ripple et cetera that are
• 8:33
  Speaker 1: playing into this market. Let me play this clip for
• 8:35
  Speaker 1: you and I we'll get your opinion.
• 8:36
  Speaker 3: Take a look.
• 8:37
  Speaker 7: Are we going to need Visa and MasterCard if stable
• 8:39
  Speaker 7: coins are the new thing?
• 8:41
  Speaker 8: But first of all, we do own Visa and MasterCard.
• 8:43
  Speaker 8: The question is this, which stable coin is the stable
• 8:47
  Speaker 8: coin you choose going to be around forever? Is the
• 8:49
  Speaker 8: stable coin truly stable?
• 8:51
  Speaker 2: Right here is my card.
• 8:52
  Speaker 8: I get points, I get to spend those points later
• 8:54
  Speaker 8: on on other stuff, on travel, whatever, And so that's
• 8:57
  Speaker 8: going to keep folks using Visa mass card.
• 8:59
  Speaker 7: The MasterCard came out after blockchain, everybody would be like,
• 9:04
  Speaker 7: that's amazing. There's a middleman in this transaction versus you know, blockchain, which, yeah,
• 9:10
  Speaker 7: it's very difficult to reverse and that's too bad. That's
• 9:14
  Speaker 7: sort of irreversible, or if you can get your password
• 9:17
  Speaker 7: all kinds of things that.
• 9:19
  Speaker 2: Un hacking maybe an issue too, right.
• 9:21
  Speaker 7: You know, I'm looking at Circle, which is up seven
• 9:24
  Speaker 7: hundred percent since it's ibo. Could there be some short
• 9:29
  Speaker 7: term noise?
• 9:30
  Speaker 8: Yeah, we try not to invest in new shiny things.
• 9:34
  Speaker 1: All right, So so it's a little crazy. You could
• 9:36
  Speaker 1: kind of see old school pitching in there. But the
• 9:39
  Speaker 1: point being there's a lot happening. How much of a
• 9:41
  Speaker 1: threat do you feel like stable coins really are to
• 9:44
  Speaker 1: the traditional financial system as it is today?
• 9:47
  Speaker 5: Massive?
• 9:48
  Speaker 2: Massive, And that's that is the reason why you're seeing
• 9:51
  Speaker 2: the traditional financial system today race to figure out how
• 9:55
  Speaker 2: they can get involved in the staple It's not the
• 9:58
  Speaker 2: other way around. Yes, you know the stable coin market.
• 10:00
  Speaker 2: The crypto native companies like Circle, like Ripple, like pacsos,
• 10:05
  Speaker 2: they're pushing for this regulatory framework so they can be
• 10:08
  Speaker 2: more integrated into the larger financial system. But they're the
• 10:12
  Speaker 2: ones they're not racing to become banks. It's starting to
• 10:14
  Speaker 2: happen now, but it's reverse that's happening, where it's Bank
• 10:17
  Speaker 2: of America, it's Visa, it's MasterCard, all saying oh shoot,
• 10:21
  Speaker 2: this is where the future is going. People want frictionless payments,
• 10:25
  Speaker 2: They want their payments to be settled instantaneously, they want
• 10:28
  Speaker 2: them to be cheap. And how do we get involved there?
• 10:31
  Speaker 2: Because if we don't get involved right now, we don't
• 10:33
  Speaker 2: start to issue our own stable coins, or we don't
• 10:36
  Speaker 2: start to figure out how to play nicely with some
• 10:38
  Speaker 2: of these stable coin issuers that have owned the market
• 10:40
  Speaker 2: for so long, then we're going to be antiquated very
• 10:43
  Speaker 2: very quickly, and so I imagine all of the legacy
• 10:47
  Speaker 2: financial institutions are going to get involved into the stable
• 10:50
  Speaker 2: coin space, that stable coins are probably going to be
• 10:52
  Speaker 2: the dominant payment system over the next few years across
• 10:55
  Speaker 2: the globe. And so if they don't, you know, change
• 10:59
  Speaker 2: quickly and they don't adapt, then we will forget about that.
• 11:02
  Speaker 2: They will be the pest dot.
• 11:03
  Speaker 3: Com blockbuster for sure.
• 11:05
  Speaker 1: Okay, So a couple of odds right now from you
• 11:08
  Speaker 1: in terms of the odds of the Genius Act going through.
• 11:11
  Speaker 1: What do you feel right now is the is the
• 11:13
  Speaker 1: current odds of actually happening.
• 11:17
  Speaker 2: I'm the most optimistic I've ever been, and that says
• 11:19
  Speaker 2: a lot. As someone who lives and breeds and has
• 11:21
  Speaker 2: made their career in Washington, I always find a reason
• 11:24
  Speaker 2: to be pessimistic because usually Congress doesn't let me down.
• 11:27
  Speaker 2: In letting me down, however, I'd say we are ninety
• 11:32
  Speaker 2: nine percent that we are going to get.
• 11:34
  Speaker 3: Those are good odds.
• 11:35
  Speaker 2: Those are odds ninety percent We're going to get the
• 11:38
  Speaker 2: Genius Act passed within the next two weeks. I will okay,
• 11:42
  Speaker 2: be sent to President Trump's desk and we will have
• 11:45
  Speaker 2: a shiny Rose Garden signing ceremonies.
• 11:48
  Speaker 1: And that is most likely going to go down the
• 11:50
  Speaker 1: path of the Market Structure Bill. When you look at
• 11:53
  Speaker 1: that bill, which is a lot more indicative of things
• 11:56
  Speaker 1: like yields and staking, et cetera. How what's the odds
• 12:01
  Speaker 1: of market structure coming through this year.
• 12:04
  Speaker 2: It's tough. So where we are right now is the
• 12:07
  Speaker 2: House has a bill, the Clarity Act, that will also
• 12:11
  Speaker 2: likely go for a vote in the House over the
• 12:13
  Speaker 2: next two weeks. That bill has already passed through committee.
• 12:16
  Speaker 2: They are still negotiating with Democrats to gain more support.
• 12:20
  Speaker 2: They would like a huge vote on that in the Senate.
• 12:23
  Speaker 2: They're working on their own effort, and there was a
• 12:25
  Speaker 2: roundtable last week between Senator Lummis, Senator Tim Scott, chairman
• 12:30
  Speaker 2: of the Banking Committee at Bohinz from the White House,
• 12:32
  Speaker 2: and they laid out a timeline for marketstruction of the
• 12:35
  Speaker 2: Senate and said we will have a bill passed in
• 12:37
  Speaker 2: the Senate by September. Now, that bill, again will look
• 12:41
  Speaker 2: different than the House bill, so then they will have
• 12:43
  Speaker 2: to reconcile those differences. So given limited timeline and given
• 12:47
  Speaker 2: some of the other legislative priorities, I would say passing
• 12:50
  Speaker 2: the bill this year fifty to fifty right now, because
• 12:53
  Speaker 2: to your point, Paul, the Market Structure bill is much
• 12:56
  Speaker 2: more comprehensive than stable coins. It is really drawing those
• 13:00
  Speaker 2: jurisdictional lines between the sec CFTC. It's a mammoth of
• 13:05
  Speaker 2: a bill, three hundred pages, but we are making great
• 13:08
  Speaker 2: progress and it is great to see the White House
• 13:10
  Speaker 2: put firm deadlines on these things because if anyone could
• 13:13
  Speaker 2: get Congress to act quickly, especially on the Republican side,
• 13:17
  Speaker 2: it is going to be President Trump and he is
• 13:20
  Speaker 2: very motivated to get this bill done. The question is
• 13:23
  Speaker 2: going to be our Democrats willing to support it, and
• 13:26
  Speaker 2: he hit sixty votes in the Senate to move this through.
• 13:28
  Speaker 2: And right now, the hold up for Democrats has been
• 13:31
  Speaker 2: conflict of interest provisions around the Trump family's involvement in
• 13:35
  Speaker 2: the crypto space, and they are working with Republicans to
• 13:38
  Speaker 2: get language that would prohibit some line of executive branch
• 13:43
  Speaker 2: officials or family members of the president from issuing digital tokens.
• 13:48
  Speaker 2: So how that shapes out will be indicative of whether
• 13:51
  Speaker 2: Democrats will support the bill. And so I'd say fifty
• 13:54
  Speaker 2: to fifty right now.
• 13:56
  Speaker 1: Interesting fifty to fifty. Those are not as good odds.
• 13:59
  Speaker 3: Cody, I've heard.
• 14:01
  Speaker 2: I'm optimistic.
• 14:02
  Speaker 1: If it doesn't go through, what could we get done,
• 14:06
  Speaker 1: you know, around crypto regulation this year that would at
• 14:09
  Speaker 1: least help the market in general.
• 14:11
  Speaker 2: Well, the date I'm looking at right now, it's coming up.
• 14:14
  Speaker 2: It's July twenty second. That is the date that the
• 14:16
  Speaker 2: White House is going to come out with a full
• 14:19
  Speaker 2: whole of government report on what the crypto regulatory structure
• 14:23
  Speaker 2: for the United States should look like. This was a
• 14:26
  Speaker 2: mandated report from an executive order from President Trump on
• 14:29
  Speaker 2: day three of the administration, and so this report will
• 14:33
  Speaker 2: be a comprehensive outlook from with input from every single
• 14:37
  Speaker 2: agency across the executive branch, saying here are the rules
• 14:41
  Speaker 2: we think we need to implement to make sure that
• 14:43
  Speaker 2: the US continues to lead on digital assets. It'll have
• 14:46
  Speaker 2: input from the CFTC, the SEC, Treasury, Commerce, you name it,
• 14:51
  Speaker 2: the prudential regulators. That is going to be very indicative
• 14:54
  Speaker 2: and important to say, Okay, here's the future outlook for
• 14:57
  Speaker 2: digital assets in the United States. Once that report comes
• 15:01
  Speaker 2: out in a few weeks, I would expect that all
• 15:04
  Speaker 2: of those agencies will start to implement some of those
• 15:07
  Speaker 2: proposed or start to introduce some of those proposed rules,
• 15:11
  Speaker 2: implement some of that guidance, and we will see a
• 15:13
  Speaker 2: wave of agency actions, not as good as legislation because
• 15:17
  Speaker 2: they can't stand the test of time and they can
• 15:19
  Speaker 2: be overdone by a subsequent administration, but we will see
• 15:22
  Speaker 2: a massive amount of work coming out on digital assets
• 15:25
  Speaker 2: from all of these various agencies that I think will
• 15:27
  Speaker 2: help boost the market in providing additional clarity.
• 15:31
  Speaker 1: Yeah, well that's going to put some pressure obviously on
• 15:33
  Speaker 1: Congress to get things moving on this.
• 15:35
  Speaker 3: Yeah, so I agree.
• 15:36
  Speaker 1: Another thing that happened is Timins Torres also introduced the
• 15:41
  Speaker 1: NFT Act again, So it seems like it's resurrected when
• 15:44
  Speaker 1: you look at that. And then I want to play
• 15:46
  Speaker 1: a clip for you and get your opinion on this.
• 15:48
  Speaker 1: This gets into a little bit more detail of how
• 15:51
  Speaker 1: collectibles could really start to impact the market and who
• 15:55
  Speaker 1: could be involved.
• 15:56
  Speaker 9: Take a look with a pulp Mott can hold on
• 15:59
  Speaker 9: to its months market lead, the labuob macapop mat now
• 16:03
  Speaker 9: with more than twice as much as Sandrio and Mattel combined.
• 16:07
  Speaker 9: Why are we really doing this? Who's buying these things?
• 16:11
  Speaker 10: Palmer has a hit the jackpot. Everyone wants to be
• 16:13
  Speaker 10: in this business right now. La Bubo has a pretty
• 16:17
  Speaker 10: vibrant secondhand the marketplace. In fact, the scalpers can make
• 16:22
  Speaker 10: more money selling Labupu than the company itself. Palmer has
• 16:25
  Speaker 10: to keep the Labuboo supply very very tight.
• 16:28
  Speaker 6: Fascinating to look at this kind of this admission here,
• 16:31
  Speaker 6: if you will, from analyista Willis Fargar, who says we're
• 16:34
  Speaker 6: the first to admit we did not necessarily see this
• 16:37
  Speaker 6: rally happening. One of the things they're pointing to is
• 16:39
  Speaker 6: this unexpected boom, this kind of resurgence in collectibles and
• 16:43
  Speaker 6: trading cards. But I think overall, this is a stock
• 16:46
  Speaker 6: who's performance so far has really called a lot of
• 16:48
  Speaker 6: analysts on Wall Street off gard Nicole.
• 16:50
  Speaker 1: All right, So, Cody, when you look at that clip
• 16:52
  Speaker 1: and you think about what's happening over here with the
• 16:55
  Speaker 1: digitals market, especially around Pokemon now being introduced, and then
• 16:59
  Speaker 1: you also look at the idea of large economies that
• 17:03
  Speaker 1: are built around this, including companies like eBay. Could we
• 17:07
  Speaker 1: see eBay and other retailers starting to hit the lobby
• 17:12
  Speaker 1: field there in DC to try to get this moving
• 17:15
  Speaker 1: with all this activity happening now.
• 17:17
  Speaker 2: It's already happening. Disney is another example. Disney put their pins,
• 17:22
  Speaker 2: which if you ever going to Disney World, you see
• 17:24
  Speaker 2: all the people collecting the pins. They put them on
• 17:26
  Speaker 2: a blockchain now and they've digitize them. Everything is moving digital.
• 17:31
  Speaker 2: And why these companies and these massive economies are starting
• 17:35
  Speaker 2: to join the blockchain and digital asset lobby in DC
• 17:39
  Speaker 2: is because they realized that the last administration said anything
• 17:42
  Speaker 2: that was digital could be a financial product, and that
• 17:46
  Speaker 2: is a scary place to be. That is not the truth.
• 17:49
  Speaker 2: That is not how our markets have always worked. And
• 17:52
  Speaker 2: we need to ensure that we have a clarity like
• 17:54
  Speaker 2: the NFTC to say no, these are consumer products. So
• 17:57
  Speaker 2: I imagine all of these collectible markets have already, if
• 18:00
  Speaker 2: they haven't already joined us in the halls of Congress,
• 18:02
  Speaker 2: they will be soon because everything that they have put
• 18:05
  Speaker 2: out thus far over generations will now be digitized. They're
• 18:09
  Speaker 2: now moving to this market.
• 18:11
  Speaker 1: What Disney is trying to bring out what we're going
• 18:13
  Speaker 1: to see most like in the sneaker business, in the
• 18:15
  Speaker 1: high luxury goods business, all of this kind of leaning in.
• 18:18
  Speaker 3: But the point is is that we need some good.
• 18:20
  Speaker 1: Guiding models that are actually showing it being done. And
• 18:24
  Speaker 1: I think that's what we're starting to see play out
• 18:26
  Speaker 1: right now where analysts are missing it.
• 18:28
  Speaker 3: So that's a big deal.
• 18:29
  Speaker 2: Oh, it's a huge seal. And imagine how much you know,
• 18:32
  Speaker 2: money you could bring in if you are Pokemon. You know,
• 18:36
  Speaker 2: if there's a difference between being able to trade a
• 18:39
  Speaker 2: physical Pikachu card or to tokenize that Pikachu card, fractionalize
• 18:43
  Speaker 2: it and give out shares to hundreds of people where
• 18:46
  Speaker 2: they can all have access to it. There is so
• 18:48
  Speaker 2: much liquidity and opportunity from the tokenization business of these
• 18:52
  Speaker 2: collectibles and collectibles have been popular forever. Baseball cards, babies, Pokemon.
• 18:57
  Speaker 2: That's not going to go away. They're all just going
• 18:59
  Speaker 2: to evolve to be into in the digitalization, tokenization, blockchain
• 19:03
  Speaker 2: space for sure.
• 19:05
  Speaker 1: Hey listen, Cody, it's been good having you on. I'm
• 19:07
  Speaker 1: going to get you back on soon. If you guys
• 19:09
  Speaker 1: want to learn more about the Digital Chamber, jump over
• 19:11
  Speaker 1: there to Digital Chamber dot org. And of course, if
• 19:14
  Speaker 1: you're in the business of understanding blockchain and the future
• 19:18
  Speaker 1: of it, get ready because DC is a hotbed right
• 19:21
  Speaker 1: now for a lot of this activity. So thanks for
• 19:24
  Speaker 1: all the work you do and thanks for coming in today.
• 19:26
  Speaker 1: We appreciate it.
• 19:27
  Speaker 2: Of course, thanks for having me, Paul, you bet okay.
• 19:29
  Speaker 1: So you guys, if you're not in our Diamond Circle,
• 19:32
  Speaker 1: that is our own private group, you guys can get
• 19:35
  Speaker 1: in and we make it easy to do that and
• 19:37
  Speaker 1: it's free. I have to do is click the link
• 19:38
  Speaker 1: down below. You can also follow me on x at
• 19:41
  Speaker 1: Paul Baron. We'll catch you next time right here on
• 19:43
  Speaker 1: the Paul Baron Show.
• 19:45
  Speaker 4: Thank you