Latest / The Paul Barron Crypto Show / CLARITY Vote FINAL HOUR!🚨Banks Launch Last Attack On Your Yields!🔥

Transcript

CLARITY Vote FINAL HOUR!🚨Banks Launch Last Attack On Your Yields!🔥 · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Clarity Final Hour is underway.
• 0:02
  Speaker 2: Today we're going to get into it because there are
• 0:03
  Speaker 2: some very interesting things that are happening in the grand
• 0:06
  Speaker 2: theater of DC. Before we do that, I want to
• 0:09
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• 0:38
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• 0:40
  Speaker 2: the diversification things that you should be doing. to set
• 0:43
  Speaker 2: yourself up for success. Let's just start off with this
• 0:46
  Speaker 2: right here and that of course is that Senate Democrats
• 0:50
  Speaker 2: have rejected the final clarity ethics text. Now this is
• 0:54
  Speaker 2: no surprise, we expected this. I actually had Wysocki on
• 0:57
  Speaker 2: yesterday and he and I were kind of going into
• 0:59
  Speaker 2: this specifically around Elizabeth Warren.
• 1:02
  Speaker 1: She called it a weak fig leaf.
• 1:04
  Speaker 2: And remember guys, we need 60 votes to get this
• 1:07
  Speaker 2: thing through.
• 1:07
  Speaker 1: And remember, this is happening today.
• 1:10
  Speaker 2: And there is a lot happening in terms of drama
• 1:14
  Speaker 2: that was edging up to it.
• 1:15
  Speaker 1: I kind of anticipated.
• 1:16
  Speaker 2: Where this was heading yesterday when we were grilling Kevin
• 1:20
  Speaker 2: about this because there is so many potentials here that
• 1:23
  Speaker 2: could be pushing the banks back into action. And I
• 1:27
  Speaker 2: want to just go into what Punchbowl said here just
• 1:30
  Speaker 2: to review all the Clarity Act news breaking. This is
• 1:33
  Speaker 2: before 10 a.m. So Lummis comes in. She blasts the
• 1:36
  Speaker 2: Democrats back. counter basically is on serious. Team Warner says
• 1:40
  Speaker 2: no one should be surprised by the ask. Then you
• 1:43
  Speaker 2: have Scott coming in. The final text is the final.
• 1:46
  Speaker 2: So the Senate is going to vote on this. Regardless,
• 1:50
  Speaker 2: we'll most likely see the Republicans coming to the vote
• 1:55
  Speaker 2: for sure. And I wonder to what extent the Republicans
• 1:59
  Speaker 2: will actually vote, because this is going to get into
• 2:02
  Speaker 2: a very political situation right now as we head into midterms.
• 2:06
  Speaker 2: because there could be some pressure coming into not only Democrats,
• 2:10
  Speaker 2: but also Republicans. If you look at the current Clarity Act,
• 2:13
  Speaker 2: 13% chance after skyrocketing up to over 35% yesterday, now
• 2:19
  Speaker 2: it has fallen down to 13%. So things are looking
• 2:23
  Speaker 2: bad in D.C., and this is where my skepticism still resides.
• 2:27
  Speaker 1: I want to go to a clip real quick, because this.
• 2:29
  Speaker 2: Goes into, this is Patrick Witt, talking about the ethics component,
• 2:33
  Speaker 2: and they got what they asked for.
• 2:34
  Speaker 1: Take a look.
• 2:35
  Speaker 3: The only part of Telus Gallego that wasn't necessarily reflected
• 2:39
  Speaker 3: in the provision that was signed off on was, number one,
• 2:42
  Speaker 3: including children and family members. The definitions in there around issuance, sponsorship,
• 2:47
  Speaker 3: significant financial interest, they all include measures where there's indirect
• 2:51
  Speaker 3: coordination with someone, regardless of whether it's a family member
• 2:54
  Speaker 3: or otherwise. So I would say under this provision, children
• 2:58
  Speaker 3: are included in the sense that if there is kind
• 3:00
  Speaker 3: of coordination or direction by the covered individual, by this provision,
• 3:05
  Speaker 3: that would also be captured in there.
• 3:06
  Speaker 1: So the third part.
• 3:08
  Speaker 3: That Tillis Gallego was trying to push for was a
• 3:10
  Speaker 3: forced divestment of certain assets. There is also no precedent
• 3:14
  Speaker 3: for that in federal ethics law, forced divestment. So that's
• 3:18
  Speaker 3: the delta. And again, you know, I'd say it's probably
• 3:20
  Speaker 3: more like 90 to 95 percent of what they had
• 3:22
  Speaker 3: agreed to.
• 3:23
  Speaker 2: All right. So 90, 95 percent in terms of the
• 3:26
  Speaker 2: ethics component. I still think the ethics thing is theater.
• 3:30
  Speaker 2: In other words, I think it's just not really an
• 3:33
  Speaker 2: issue that is really drawing out to what is the
• 3:36
  Speaker 2: line in the sand. Here, of course, was Eleanor Mueller
• 3:39
  Speaker 2: talking about this, a White House correspondent talking about the
• 3:41
  Speaker 2: White House is going all out to convince Senate Republicans. Remember,
• 3:46
  Speaker 2: Senate Republicans here. And the officials were planning to launch
• 3:50
  Speaker 2: an interactive tool. And this is all centered around the
• 3:52
  Speaker 2: bank's concerns around what is happening, most likely with deposit flight.
• 3:57
  Speaker 2: The ABA, and we've actually shown this a couple of
• 4:00
  Speaker 2: clips on the show here, is that they asked, hey, listen,
• 4:03
  Speaker 2: we really.
• 4:03
  Speaker 1: Only just want one word.
• 4:06
  Speaker 2: Well, that one word has now changed into sentences and
• 4:11
  Speaker 2: entire paragraphs. What was just solely in connection is now
• 4:15
  Speaker 2: on any payment stablecoin balance, in a matter that is
• 4:20
  Speaker 2: economically functionally equivalent, substantially similar to the manner in which
• 4:24
  Speaker 2: the banking organization's payment of interest or yield. So basically
• 4:28
  Speaker 2: what they're saying is no stablecoin yields at all. And
• 4:32
  Speaker 2: further into that, they actually scratched an entire section that
• 4:36
  Speaker 2: contradicts the objective of the prohibition. And this was outlined
• 4:40
  Speaker 2: for the avoidance of doubt. They scratched all of this.
• 4:43
  Speaker 2: For the avoidance of doubts, payments to restricted recipients consideration
• 4:47
  Speaker 2: rewards or benefits that are permissible pursuant to paragraph 2
• 4:51
  Speaker 2: of paragraph a may be calculated by reference to a
• 4:55
  Speaker 2: balanced duration tenure or a combination of that foregoing so
• 4:59
  Speaker 2: basically any way you look at it stablecoin ban is
• 5:02
  Speaker 2: really what these banks are going at and they're going
• 5:05
  Speaker 2: at it full force here's another clip that goes into
• 5:10
  Speaker 2: coinbase talking about this defending stablecoin yields again now remember
• 5:15
  Speaker 2: Many people were pushing toward ethics being the real hump
• 5:19
  Speaker 2: in the road. But in reality, is it really still
• 5:23
  Speaker 2: just stable coin yields?
• 5:24
  Speaker 1: Take a look.
• 5:26
  Speaker 4: The crypto industry would be able to offer big interest opportunities,
• 5:31
  Speaker 4: big yields on stable coin yields.
• 5:34
  Speaker 5: Offerings.
• 5:35
  Speaker 4: Some people looked at that and said, well, why don't
• 5:37
  Speaker 4: you guys make better offerings, unlike crypto? But where do
• 5:40
  Speaker 4: you come down on all of that?
• 5:42
  Speaker 1: Yeah, that's right.
• 5:42
  Speaker 6: I mean, we came out and initially said, you know,
• 5:44
  Speaker 6: we think we should be able to pay rewards.
• 5:45
  Speaker 1: To our customers.
• 5:46
  Speaker 6: Why not? Why shouldn't Americans be able to earn more
• 5:48
  Speaker 6: money on their money? And we're making concessions and compromises
• 5:51
  Speaker 6: along with everyone else to try to see if we
• 5:53
  Speaker 6: can get something done here for America. We're going to
• 5:55
  Speaker 6: see who's in favor of American leadership in finance and
• 5:57
  Speaker 6: who's against it. So there's no do-overs. It's not fair
• 6:00
  Speaker 6: to us.
• 6:00
  Speaker 1: How do you respond to that?
• 6:02
  Speaker 7: Well, there's no data to show that. We've been offering rewards,
• 6:04
  Speaker 7: and others like us have, for five, six years. Community
• 6:07
  Speaker 7: bank deposits have grown through that whole period of time.
• 6:10
  Speaker 7: It's really a non-issue. I suspect that the bank trade
• 6:13
  Speaker 7: associations are really fronting this issue on behalf of They're
• 6:17
  Speaker 7: big bank members who are worried about their payment franchise.
• 6:20
  Speaker 7: It's really a battle over payments, not a battle over deposits.
• 6:24
  Speaker 2: So you can kind of see Coinbase calling them out.
• 6:26
  Speaker 2: And when I say calling them, meaning the banking lobby,
• 6:28
  Speaker 2: calling them out, literally just saying they're dishonest. And again,
• 6:33
  Speaker 2: this is on the eve and day of where Clarity
• 6:36
  Speaker 2: is going to a cloture vote to where it extends
• 6:39
  Speaker 2: into let's get this underway and get it voted on.
• 6:42
  Speaker 1: And what are they talking about? They're not talking about ethics.
• 6:45
  Speaker 2: They're talking about stablecoin bans and the issue of stablecoin
• 6:48
  Speaker 2: yield bans, I should say. And this goes into now
• 6:52
  Speaker 2: Patrick Witt saying, wait a minute, this is why the
• 6:55
  Speaker 2: banks are full of it.
• 6:57
  Speaker 1: Take a look.
• 6:58
  Speaker 3: The ABA, the ICBA, BPI, we had all of those
• 7:02
  Speaker 3: involved in there. I specifically asked those organizations if they
• 7:05
  Speaker 3: had any individual member banks or member bank associations to
• 7:09
  Speaker 3: be involved in the discussions. I guess they didn't take
• 7:12
  Speaker 3: them seriously enough when the White House was asking them
• 7:14
  Speaker 3: to be involved in this discussion. But some of the
• 7:17
  Speaker 3: framing around the requests that the ABA is making as
• 7:20
  Speaker 3: far as changes, it's like we're just looking for a
• 7:23
  Speaker 3: little bit of compromise here and almost framing what's in
• 7:25
  Speaker 3: the bill, Section 404, as crypto's position. Crypto's position is
• 7:30
  Speaker 3: to delete the entire thing. In fact, I probably had
• 7:32
  Speaker 3: to spend more of my time dragging crypto to the
• 7:35
  Speaker 3: place where they could agree to that compromise. So now
• 7:37
  Speaker 3: the ABA is basically resurfacing all the things that they
• 7:41
  Speaker 3: had already brought up in our meetings and in the
• 7:44
  Speaker 3: meetings that subsequently took place with Senators Tillis and Alsobrooks,
• 7:47
  Speaker 3: acting like these weren't already considered. They were. These are
• 7:50
  Speaker 3: not new ideas.
• 7:51
  Speaker 1: They were rejected.
• 7:53
  Speaker 3: We struck the balance between addressing, again, their entirely hypothetical
• 7:57
  Speaker 3: and speculative concern around deposit flight. with a ban on
• 8:02
  Speaker 3: idle interest. You can't pay idle interest. But also, we
• 8:05
  Speaker 3: permit the businesses to pay rewards in connection with a
• 8:09
  Speaker 3: bona fide activity, like any business wants to be able
• 8:11
  Speaker 3: to reward their customers for engaging in activity. Still, we
• 8:15
  Speaker 3: added to it with this circuit breaker language that says,
• 8:17
  Speaker 3: you know, even in the event that we got this
• 8:19
  Speaker 3: wrong and there is massive deposit flight from banks, I
• 8:23
  Speaker 3: entirely disagree with that. But even if we got it wrong,
• 8:26
  Speaker 3: we're granting the Secretary of the Treasury extraordinary authority to
• 8:30
  Speaker 3: intervene to further restrict the payment of rewards on stable coins.
• 8:35
  Speaker 3: What more do you want? If you oppose the Clarity
• 8:37
  Speaker 3: Act because you just hate crypto, that's fine.
• 8:40
  Speaker 1: Just say that.
• 8:41
  Speaker 3: But don't try and strawman this argument that I believe
• 8:47
  Speaker 3: just doesn't hold water. All right.
• 8:49
  Speaker 2: So this has been the argument that's been coming on
• 8:51
  Speaker 2: for quite some time. In fact, it's probably been the
• 8:54
  Speaker 2: core basis of our entire thesis around why the banks
• 8:57
  Speaker 2: are pushing back. Well, now it is culminated into a
• 9:01
  Speaker 2: special tool out there. And I'm wondering who this tool
• 9:05
  Speaker 2: is for. This, in my opinion, most likely is going
• 9:08
  Speaker 2: to target the Senate Republicans.
• 9:11
  Speaker 1: This is the effects of stablecoin yield.
• 9:12
  Speaker 2: So they're going to get a chance to be able
• 9:14
  Speaker 2: to go in and actually it's an interactive tool. You
• 9:16
  Speaker 2: can go in and adjust some of the baselines, explore
• 9:20
  Speaker 2: the model. This came from some of the research that
• 9:22
  Speaker 2: was done by the White House not too long ago.
• 9:24
  Speaker 2: Actually go in and change the stablecoin market size. You
• 9:28
  Speaker 2: can go in and look at reserves held by cash
• 9:31
  Speaker 2: as bank cash. So it gives you the ability to
• 9:34
  Speaker 2: understand where this may play out. And if this is,
• 9:38
  Speaker 2: in fact, the case, are Senate Republicans lining up to
• 9:42
  Speaker 2: be in a position where they can vote for this
• 9:45
  Speaker 2: and a handful of Democrats that could bring this vote
• 9:48
  Speaker 2: across the line to 60 votes?
• 9:49
  Speaker 1: So still, everything is up in the air.
• 9:51
  Speaker 2: You've got Patrick Witt going out there, simply giving them
• 9:54
  Speaker 2: one last chance at it. And his statement there at
• 9:57
  Speaker 2: the end is the one that I think everybody wants
• 10:00
  Speaker 2: to pay attention to. If clarity fails, the banks get none.
• 10:04
  Speaker 2: of these protections, meaning all these companies are going to
• 10:07
  Speaker 2: continue on paying high yields and not really see any
• 10:12
  Speaker 2: bank flight. We are going to continue to see regulatory
• 10:16
  Speaker 2: measures being taken by the SEC and the CFTC.
• 10:20
  Speaker 1: So where do the banks go from here?
• 10:22
  Speaker 2: And in reality, it kind of limits them from being
• 10:24
  Speaker 2: able to jump in on some of the biggest innovation.
• 10:27
  Speaker 2: If you apply AI to this and what kind of
• 10:30
  Speaker 2: advancements we'll see in payments, This is where I think
• 10:34
  Speaker 2: banks could be making a pivotal mistake in not being
• 10:37
  Speaker 2: at the forefront of everything. Treasury Besant goes in and
• 10:41
  Speaker 2: says it again. I've said it many times. Clarity Act
• 10:43
  Speaker 2: is essential to ensuring America wins the global race for
• 10:46
  Speaker 2: new technology. This is the global race, I think, that
• 10:49
  Speaker 2: not only is in blockchain and in the future of crypto,
• 10:52
  Speaker 2: but also around the integration into AI, because that kind
• 10:55
  Speaker 2: of integration for payments is going to happen whether we
• 10:58
  Speaker 2: do it or China does it. or Asia does it,
• 11:02
  Speaker 2: or even the EU gets into this. So there is
• 11:05
  Speaker 2: a lot at stake today on September the 15th as
• 11:08
  Speaker 2: we go into the clarity vote. Now, this is an
• 11:11
  Speaker 2: interesting find by a researcher that looked at how far
• 11:15
  Speaker 2: back the banks have used this talking point. This was
• 11:20
  Speaker 2: a talking point that was by the Bankers Association of America,
• 11:23
  Speaker 2: kind of the same people, back in January of 1980.
• 11:28
  Speaker 2: And do you know what they were afraid of at
• 11:29
  Speaker 2: that point? They were afraid of money markets, money market balances.
• 11:35
  Speaker 2: And remember, money market balances have grown parabolically into the trillions.
• 11:40
  Speaker 2: And yet we have continued to see increase in deposits
• 11:44
  Speaker 2: in banks. So the flight of deposit, if you even
• 11:49
  Speaker 2: just compare probably to a much bigger market, at least.
• 11:52
  Speaker 1: In the beginning, is completely ludicrous.
• 11:55
  Speaker 2: And I think people are starting to realize that the
• 11:57
  Speaker 2: question is, Will the Democrats start to realize that or
• 12:01
  Speaker 2: are they still pushing against it being a non bipartisan issue?
• 12:06
  Speaker 2: In other words, saying it's all Trump that's causing this problem.
• 12:10
  Speaker 2: Back to my original point is this may not necessarily
• 12:13
  Speaker 2: be about ethics at all. This is really about stablecoin yields.
• 12:18
  Speaker 2: And to kind of level the field, remember, Hunter Biden
• 12:22
  Speaker 2: just lost a meme token 48 hours before all of
• 12:25
  Speaker 2: this is happening.
• 12:27
  Speaker 1: Now, why? Why would he do that?
• 12:29
  Speaker 2: Trump has done the same thing. So now you have
• 12:31
  Speaker 2: now both Democratic and Republican. It's like nobody has the
• 12:34
  Speaker 2: corner on this. Here is Biden talking about it.
• 12:37
  Speaker 5: The only reason that we announced the launch of the
• 12:40
  Speaker 5: coin 48 hours before we actually did was because we
• 12:45
  Speaker 5: were launching on a centralized exchange and they required us
• 12:48
  Speaker 5: to do that. And in that 48 hours, what ended
• 12:50
  Speaker 5: up happening is in that first hours is that, you know,
• 12:53
  Speaker 5: whether it's bots or trolls on crypto Twitter just tore
• 12:57
  Speaker 5: it all apart before even knowing anything about the tokenomics.
• 13:00
  Speaker 5: It gave the centralized exchanges the excuse for whatever reason,
• 13:04
  Speaker 5: political or otherwise, to literally in the last minute pull
• 13:07
  Speaker 5: the listing from us and say they were going to
• 13:10
  Speaker 5: take a wait and see look at it. And that's
• 13:13
  Speaker 5: the only reason why we ended up having to launch
• 13:15
  Speaker 5: on a decentralized exchanges.
• 13:18
  Speaker 6: Centralized exchanges sound to be at fault here, not just
• 13:21
  Speaker 6: the market makers.
• 13:22
  Speaker 1: My question is like, Hunter, can you name names? I can,
• 13:27
  Speaker 1: but here's the deal, guys.
• 13:28
  Speaker 5: You got to give me at least five days to
• 13:31
  Speaker 5: be able to do exactly that. I don't want to
• 13:33
  Speaker 5: fuck this up even worse.
• 13:35
  Speaker 1: I will.
• 13:36
  Speaker 5: I promise you. and I will have a full report
• 13:39
  Speaker 5: of exactly who, what, where, and when. 99% of the
• 13:43
  Speaker 5: general public doesn't have a goddamn idea of anything that
• 13:46
  Speaker 5: we're talking about. But of the 1% that matter, that
• 13:48
  Speaker 5: are engaged in this community, it is incredibly important to them.
• 13:52
  Speaker 5: And I feel a 100% obligation to get every single
• 13:56
  Speaker 5: answer and make right every single thing that I can
• 13:58
  Speaker 5: make right. I said, the one thing that this can
• 14:00
  Speaker 5: never be is can never be perceived to be a,
• 14:03
  Speaker 5: you know, quote unquote rug pull. And of course, what
• 14:05
  Speaker 5: is the exact thing that ends up happening?
• 14:08
  Speaker 6: A guy tweeted that you launching this meme coin somehow
• 14:11
  Speaker 6: evened out the Democrats here and brought us back to square.
• 14:15
  Speaker 1: Is that wrong?
• 14:17
  Speaker 5: Well, look, if the Clarity Act passes, I want you
• 14:20
  Speaker 5: to know this, that I'm taking full fucking credit for it.
• 14:23
  Speaker 5: That's what I'm going to do.
• 14:25
  Speaker 6: What?
• 14:26
  Speaker 1: Well, explain that. Explain this.
• 14:28
  Speaker 3: No, I'm joking.
• 14:29
  Speaker 1: Explain your thesis.
• 14:30
  Speaker 4: I'm joking.
• 14:31
  Speaker 1: Yeah, I'm kidding. Is he kidding? Is he kidding?
• 14:33
  Speaker 2: Because when you look at this, first of all, there's
• 14:35
  Speaker 2: a lot to unpack there. One thing is it kind
• 14:38
  Speaker 2: of does balance the field in that everybody can rug
• 14:40
  Speaker 2: pull in the essence of a meme coin when everybody
• 14:44
  Speaker 2: understands what meme coins really are all about. The more
• 14:46
  Speaker 2: interesting thing here though was the centralized exchanges pulling the
• 14:51
  Speaker 2: token last minute.
• 14:53
  Speaker 1: And he actually.
• 14:54
  Speaker 2: Insinuated that is it something political? So are we getting
• 14:59
  Speaker 2: centralized exchanges now drawing the line in the sand based
• 15:03
  Speaker 2: on a political affiliation of a meme token? That is
• 15:06
  Speaker 2: a question that's going to be asked and I think answered.
• 15:09
  Speaker 2: If he does actually come out with the centralized exchanges
• 15:13
  Speaker 2: that did this, this could get bad in a very
• 15:16
  Speaker 2: bad way. So we're going to watch on this, all right?
• 15:19
  Speaker 2: Because it could be a very huge issue laying into
• 15:23
  Speaker 2: what is going to happen with Clarity today. Now, I
• 15:25
  Speaker 2: want to go into a plot twist. And this changes
• 15:29
  Speaker 2: things up again because votes matter. And now you have
• 15:34
  Speaker 2: Mitch McConnell returning.
• 15:35
  Speaker 6: Take a look.
• 15:36
  Speaker 1: Plot twist. Mitch McDonnell is alive.
• 15:39
  Speaker 7: No.
• 15:39
  Speaker 1: Just no. He's not. I'm going to pass on that one.
• 15:44
  Speaker 1: These guys are going crazy today with our lightning rounds. Yeah,
• 15:47
  Speaker 1: but Lomax is dead. He's not around anybody anymore.
• 15:50
  Speaker 6: I know that.
• 15:51
  Speaker 1: You know that. Nobody else knows that. It looks good enough.
• 15:59
  Speaker 1: Let's go. Hey, Bernie did like last week, huh? Are
• 16:02
  Speaker 1: you feeling good, Mitch?
• 16:04
  Speaker 6: Looks good. Give us a thumbs up.
• 16:12
  Speaker 1: Are you? Is that real?
• 16:14
  Speaker 2: He's going to go in and act like he voted. So, OK, guys,
• 16:18
  Speaker 2: all kidding aside, I mean, this is the kind of
• 16:20
  Speaker 2: issue that we are facing right now, as every vote
• 16:22
  Speaker 2: is going to count. You look at McConnell returning after
• 16:25
  Speaker 2: a month long absence for this crucial vote. Very interesting there.
• 16:30
  Speaker 2: I don't know, guys, this just looks like elder abuse
• 16:32
  Speaker 2: to me. This is terrible to see this kind of
• 16:34
  Speaker 2: thing happening. in our government right now as we line
• 16:38
  Speaker 2: up for the most critical vote that could be affecting
• 16:42
  Speaker 2: not only technology, but also the banking and the finance
• 16:44
  Speaker 2: industry for the next two decades. So huge issues going
• 16:47
  Speaker 2: forward here. I want to show you one thing, and
• 16:50
  Speaker 2: that is the lineup on timeline here. If you look
• 16:53
  Speaker 2: at the September calendar for Congress, there's a handful. Today,
• 16:56
  Speaker 2: here we are on the 15th. There's maybe a couple.
• 16:59
  Speaker 1: Of days there.
• 17:00
  Speaker 2: Remember, this is Senate only on the 18th. Then you
• 17:03
  Speaker 2: have the 22nd through the 25th and the 28th through
• 17:06
  Speaker 2: the 30th that would be potentially available if something does
• 17:10
  Speaker 2: get shattered out today and they postpone this vote. Because
• 17:14
  Speaker 2: it's going to happen here in maybe by the time
• 17:17
  Speaker 2: this is posted within the next hour. So be on
• 17:20
  Speaker 2: the lookout for all of that. I want to go
• 17:22
  Speaker 2: to this right here because this will get into some
• 17:24
  Speaker 2: of the impact of what this will do to the market.
• 17:27
  Speaker 2: Circle and coin stocks both slip on pre-market. This, of course,
• 17:32
  Speaker 2: is starting to happen in the sense that we saw
• 17:35
  Speaker 2: what would happen most likely to tokens and stocks that
• 17:40
  Speaker 2: are related to this Clarity Act. And of course, when
• 17:42
  Speaker 2: you look at the chart right now, this is the
• 17:44
  Speaker 2: circle chart right here. I'll go for you. This was
• 17:47
  Speaker 2: the high right here as we were in fever pitch
• 17:50
  Speaker 2: around 103. This happened, of course, last Thursday, sliding down
• 17:54
  Speaker 2: now to eighty eight dollars. I'm not telling anybody to
• 17:58
  Speaker 2: do anything in terms of buying a stock, but I'm
• 18:01
  Speaker 2: just looking at this and wondering, is this either priced
• 18:05
  Speaker 2: in on the bad side or what happens if by
• 18:09
  Speaker 2: chance they somehow get this done?
• 18:12
  Speaker 1: I don't know. It's an interesting point.
• 18:14
  Speaker 2: Now, if you guys remember, we did a whole video
• 18:17
  Speaker 2: on these kinds of issues. What would be the play
• 18:19
  Speaker 2: if clarity proof tokens could play out on the other side? Well,
• 18:24
  Speaker 2: one of the slides that we presented was this one
• 18:26
  Speaker 2: right here. Let me kind of slide forward to it
• 18:28
  Speaker 2: real quick. So what we did was we looked at
• 18:31
  Speaker 2: the filter. If your company would bet its brand, this
• 18:33
  Speaker 2: was the thing we were focusing on right here. If
• 18:35
  Speaker 2: a company bet its brand on the bill, it needs
• 18:38
  Speaker 2: the bill. And we know who those are. It's going
• 18:40
  Speaker 2: to be Circle and Coinbase right there. Genius left the
• 18:43
  Speaker 2: yield fight open. Banks are still attacking. That's the anticipation
• 18:47
  Speaker 2: that we saw. Circle would be in here if, in fact,
• 18:50
  Speaker 2: That goes through. It will be hit, and it has
• 18:53
  Speaker 2: been hit significantly because of what's happened today, which is
• 18:57
  Speaker 2: the banks have gone out full force again after yields
• 19:02
  Speaker 2: when it comes to stablecoins. So you can kind of
• 19:04
  Speaker 2: see interesting situations are brewing right now in D.C. The
• 19:09
  Speaker 2: negotiations are getting very heated. We're going to be watching
• 19:13
  Speaker 2: this very closely. If you like this video, hit like
• 19:22
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• 19:25
  Speaker 2: our free private member group.
• 19:27
  Speaker 1: The link is in the description.