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Biden Accepting Crypto Payments? Gensler Approving Ethereum By Summer End · The Paul Barron Crypto Show

0:07
All right, a lot happening today with the President, mister Joe Biden,
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and of course we'll be breaking down a little bit of news on the ETHTF
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and something that I think you'll like. We've got a good clip for you.
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My name is Paul Barrew. Welcome back in a tech path join.
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Of course today is going to be talking about kind of this track to crypto
0:25
potential ideas of how you might donate to campaigns. Okay, well, one
0:30
of the things that you can do if you're brand new to crypto, you're
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going to need to get an exchange account. So go over to coinbase right
0:37
now. You can jump over there just at coinbase dot com. The Future
0:40
of Money is here and use our link. It's going to give you up
0:43
to two hundred bucks in crypto when you sign up. And of course on
0:47
coinbase you can buy, sell, hold all that kind of good stuff.
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If you're brand new, it works just like a regular exchange, except now
0:55
you're investing in crypto. I want to get over to a couple of points,
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and I want to start off with this tweet right here, and this
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is coming in from Ted Talks mattro more disinflation should be shorter term bullish crypto
1:07
and stocks, especially after yesterday's CPI print sentiment down by the Fed at June's
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FMC. Remember we had US May the US producer prices fell point two.
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That's good estimated it was like a plus one. And then you look at
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the prices on rise at point two and then core PPI unchanged, core PPI
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rises two point three. So point being is there's a lot less pressure right
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now on the inflation number. Obviously we saw inflation coming soft yesterday. Even
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with that, though we didn't really see the Fed respond as if anything had
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happened. So I think that's why we see this market kind of waffling right
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now to a certain extent. And the factor here is really win is a
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cut possibly in mind. So if this goes a little bit higher, meaning
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staying on these pods straits for now for longer, the real question is when
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is that date going to occur? This tweet right here just in FED chair
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pal said he does not have a definitive answer as to why people are not
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happy with the economy. I mean, come on, is he tone deaf
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here? What's going on? Because I mean there is a reality that there
2:19
is a lot of price pressure on the American consumer where at highest debt ratios,
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we've got people doing all sorts of things in terms of, you know,
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not being able to make car payments, also issues with not being able
2:30
to just to go out there and get a new home. All these kind
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of factors are playing into that. Now, sure the one percent, yeah,
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okay, you're probably not being affected as much, but that is not
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the majority of the voting block. So a lot pointing into that. Biden's
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campaign is now in talks to accept crypto donations. Can you believe this crypto
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donations through coin based commerce is coming up. I've got a couple of things
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I'll show you here in a second, but that is not yet available on
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the site. I'll show that for you to kind of give you a comparison.
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But here's, of course, mister Scott Melker coming in. We can
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finally donate all these unregistered securities over on the campaign. As long as it's
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going in for political means, I guess it's okay. Here's the sec saying
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that Gessler sees the Ethereum ETFs one approval for this summer, and then obviously
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we'll see trading following follow Within that, the big point is when does that
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occur? Because this is going to give us a feedback on what is the
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appetite right now of a lot of these asset managers around Ethereum. I think
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Ethereum takes off has a pretty good run here. And I want to go
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to a clip because this gets into is it approved or not? Take a
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look, you're back now asking for two point six billion dollars for physically year
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twenty five. Yeah. What happens here with the SEC and with the CFTC
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is constant roadblocks and a lack of certainty. I don't think that's the result
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that we want to have here in America. I want to take, for
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example, the year's long process that it took to approve Bitcoin's ETF and I'm
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just very puzzled than in light of the most recent court ruling, why we
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haven't fully approved the issuance of Ether ETFs. Chairman Ben I'm going to turn
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to you. Is Ether a commodity? Yes? Or no? Answer?
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Will do yes? Chairman? Guns the same question as Ether a commodity?
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Senator, We actually, as an agency did approve Ethereum exchange trade only partially.
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It's not the approval is not complete. We address ourselves to the filings
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in front of us, and we have approved it. And so you're saying
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that all ether applications have been approved by the SEC exchange traded product of filings
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that were in front of us from stock exchanges, I think there were eight
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or nine of them were all jointly approved. Individual issuers still are working through
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or the registration process that's working smoothly, and I would envision sometime over the
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course of this summer they'll you know, those are just those great news.
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If you're committing to me that those applicational applications will be approved by the end
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of the summer, I appreciate it. We've got to get this market.
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Yeah, we've already approved. And if I can say just a little bit
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further, the ethereum exchange traded product based upon that well regulated market. Even
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last summer we had there were ethereum exchange traded products, it was called ETFs
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based upon those ethereum futures last summer. That's already to happen. Well,
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I take it from your answer then that the applications that are still pending for
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either this would be very helpful to the marketplace to get this clarified that you're
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ready to approve those you'll get summer again. Again, that's done at as
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staff level, but it's just disclosure and registration, and those registration statements have
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to have the proper disclosures and go through before they go what's called effective.
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But we've already improved needs to be approved as well. Completely all right,
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it sounds like they pretty much put him into a corner. He was still
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very kind of wishy washy on the on the answer, but I think it
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was clear, and that is that they are going to get approved this summer,
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and it's just a matter of a handle of a handful of items that
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have to be kind of crossed and dotted in terms of just the paperwork.
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So this is a good thing. This will be very interesting, especially on
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Ether when the market starts to see that approval actually set up, because as
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I said, the key here is going to be the appetite. When you
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think about appetite, though, you've got to look at this right here.
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Analysts claim the institutional interest right now in spot ether ETF is diminished without the
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staking option. Remember that in Hong Kong they actually made staking available in their
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ETFs. That is a question mark right now. For obviously these ETFs within
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the United States not going to be the case, but will that matter going
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forward if their market is not necessarily a next generation investor, meaning it's probably
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a boomer or someone in you know, my generation gen X who is just
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you know, a little bit you know, not as plugged into crypto and
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they just want something simple, but they want exposure. That is where it
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may fall. So a lot of things playing into that. Make sure and
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drop in some questions over on the sidebar. We will try to get some
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of those. And we've got a poll coming in, so make sure to
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hit that as well. Just to show you this, of course is the
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Biden victory Fund right there, you can donate to President Biden. Oh Man,
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nice chance to meet George Clooney and Julia Roberts. Wow, is that
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going to be a big deal. But the key is that there's no coin
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based commerce button here yet, but surely that's going to be available. You'll
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be able to you know, go in and do your donations right there.
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You can go in and donate right now to Trump. This just flows right
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through to his coinase commerce accounts, so boom, you're ready to go right
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in and donate to the Trump National Committee. So I don't know, is
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this going to make a big enough position for you if are you a one
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topic voter? Are you, you know, in a position where he simply
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says, if this candidate is for crypto, I'm in all the way.
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Let me know in the comments. I'm kind of curious what you guys think
8:22
around the candidates that you most likely would vote for based on their positions on
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crypto. Let's go over to bitcoin right here, because obviously bitcoin miners are
8:33
going to get a little bit of a bump here. Bitcoin miners rise ten
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percent after Trump promises to back US minors a couple of points within this right
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here, he says he wants this is interesting, he wants all the remaining
8:46
bitcoin to be made in the USA. I love that, and it would
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help the country be energy dominant. I think he's starting to drink the drink
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the kool aid for sure. So very cool. Let's jump over to the
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poll real quick, because I think it's it kind of compares to what we've
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got going on all right. When will the ETHTF launch? You got now
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to August fifty percent, September to October twenty eighth, so ten percent November
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December. Wow, everybody's kind of split on this, but now to August
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would be pretty good, not bad overall. I think the key here,
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Oh wait a minute, twenty twenty five, I forgot, there's a twelve
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percent right there. But fifty percent still, that's a that's a high number.
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That's a very high number going in that. I like the idea that
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when a president is making the kind of comments, or you know, form
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president in this particular case, making the kind of comments that Trump is making.
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Remember we still have another candidate in there with RK Junior, who is
9:41
also very pro crypto. Will most likely see these candidates be flooding these crypto
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events over the next few months to really kind of get the summer months tied
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into a lot of the potential voters going into this. So be on the
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lookout for that. Another tweet right here. This, of course, in
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conversation with Kathy Wood coinbas CEO, Brian Armstrong says he met with twelve or
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thirteen different Senators over the past few days. Crypto is the number one bipartisan
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issue in Congress right now. I thought I would never say those words on
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this channel that says a lot in terms of how DC has done really a
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pivot completely on where crypto was. Because six months ago, I remember,
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we were talking to the guys with the blockchain Association, with Digital Chambers.
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I mean, we've talked to everybody and they've all indicated that it was probably
10:35
going to be twenty twenty five because nothing gets never ever gets done in an
10:41
election year. That is not necessarily the case. Right now, we're seeing
10:45
real movement likelihood. Do we get a stable coin bill coming through most likely
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that's the one that I think makes the biggest difference, even though I think
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FIT twenty one will be approved as well. All these I think are in
10:56
the right position at the right time. So just to give you an example,
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Well, what's driving this right now, Well, it's money. You
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know, if you go to Open Secrets you can kind of see the full
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listing here of the finance and insurance and real estate sector. This is one
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of the biggest sectors out there. And if you look at the contributors within
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that sex sector right there, Susquehanna, Citadel, Coinbase, Ripple, Graylock.
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I don't know if you guys can read that, we can zoom in
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on that for you andres and Horwiz that's a sixteen Z you know, Sequoia,
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a loan Pine. All of these, not all, but most of
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these have a little bit of interest, if not a lot of interest in
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where the web three and or the crypto market goes so very, very big.
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And if you look at the size, you know, it's good that
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they're making contributions, but what about the size of these overall packs. Here's
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a good example. Here's Make America Great Again. That's the biggest one right
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there, supporting Trump. One hundred and nine million right there, pulled in
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and you go further on down and you can see we're starting to see fair
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shake right there. That's a crypto at ninety two. So that's huge in
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terms of comparison, which means a lot of money right now behind these candidates
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on pro crypto. I think that's why we've seen so much movement in DC
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on all of this kind of going forward. So it's a big one for
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sure. We'll take a look at some charts. I know everybody's been asking
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questions about that. I want to finish up here on this right here,
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and of course that is another bullish move by micro Strategy saying we're going to
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raise five hundred mil I guess what, buy more bitcoin? So where do
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you guys think the markets are right now in terms of price? Bitcoin comes
12:37
into sixty six, we see chair pale not really be dubbish, but not
12:41
be hawkish either, and yet at the same time the market seems to be
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a little bit sideways. Love to get your kind of feedback on where you
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are in a position. If you look at Bitcoin right now, this was
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the down a little bit of the downward sentiment track that we've been watching,
12:56
but holding it around sixty six seven right now, big red day down about
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two. If you look at eth also tracking down overall, looks like could
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we get down and hold it that thirty four? Maybe we'll see Solana took
13:11
a big step down as well, even though it's trying to revert a little
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bit. It's at one forty eight, so a lot of those holding let's
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see where Avax is thirty one bucks also kind of bouncing around a lot of
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a lot of major tokens still on the move. What do you guys think
13:30
about the meme you know, the meme craze. Do you feel like that's
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going to be a big part of maybe this whole cycle, especially in the
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back half of this bull run, because we're looking at more and more of
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those. For sure, Where is the poll now? Let me say,
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do we have more votes? I'm kind of curious. Oh we got a
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different poll. All right, so we'll grab some questions here. Watch and
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comment. Trump called crypto scam against Yeah, I remember that it's politics.
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He's truly not okay? Well, watching comment, let me explain something.
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Do you think any of these politicians are truly for anything or is it just
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they follow the money? That's really what it boils down to. You go
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says buying dips, good for you man. Trump doesn't know jacket. Who
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needs to know something about crypto to buy it? Do you need to know
14:22
things about it? I think the only way we're going to get mass adoption
14:24
is these kind of moves from these kinds of players. Whether it's Trump,
14:28
Biden, rfk Elon, it doesn't matter. The influencers of our society are
14:35
the ones that start to dictate and really guide where most Americans go in terms
14:41
of investments. I mean, you look at just what is happening right now
14:43
in the AI craze. Look at him Vidio by itself. Okay, Sure,
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says Biden gets in. Enjoy your huge tax increases. You know we'll
14:52
continue to see those for sure. Philip says, expect Trump to use your
14:56
money to pay for his criminal legal fees. I doubt that, but okay,
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okay, I think they're selecting which ones they send me right now.
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Come on, Gary, just say yes, that's no doubt for sure.
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No clarity on Gary, I disagree. I think there was clarity in that
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clip. I think he was just trying to sidestep it so he doesn't get
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into the whole market manipulation, because if the market has already approved this,
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or if the SEC has already approved this, the market's response would be significant.
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Biden's a hypocritic. Vito's crypto bill now accepts crypto and you expected something
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else? Okay, Biden admin attack crypto of three years. I'm voting Trump.
15:39
We're all going to go to the moon. Let's go XRP great again.
15:43
Only one thing, though, guys, One thing has to happen.
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We still need a stable coin bill that's got to get approved. Once we
15:50
have a stable coin bill, remember the end of this month. Right now,
15:54
we're in June thirty guess what happens. Mika will have lee Eagal framework
16:00
inside the EU for stable coins, and we are going to see mass exodus.
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I think of businesses and innovation starting to look at hey, this is
16:10
what I'm going to build next that are going to start looking into areas like
16:15
the EU for sure. All right, I know we got another thing there.
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Right, Let's go to that poll real quick. All right, here
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we go. Are you a single issue voter crypto voter? Yes, I'll
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vote pro crypto only. That's interesting fifty seven percent. No, I care
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about other issues twenty six and I'm not voting seventeen. Well, we'll get
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As we get closer, you know, we'll show more of that, because
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I think that is this is a big factor. Guys. This is the
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year. If you have never voted before, I implore you to go out
16:47
there and get involved, no matter what candidate you're into, but get involved
16:51
because this is an important This is a very important cycle in terms of our
16:53
election, not only just for crypto, but I think from a financial standpoint
16:59
and also from a global macro standpoint. We are at war right now if
17:03
you think about it, with just holding the Fiat dollar position as a world
17:08
reserve. Most likely we'll see that starts to slip away in our lifetime.
17:14
So whether that's over the next decade or not, this is a big one.
17:17
So it's the time to do it. If you're gonna do it at
17:19
all. All right, if you guys are not part of the Diamond Circle,
17:22
get in right now. It's a great place to get additional content.
17:26
We've got a lot of things going over there. When you go to our
17:27
website Paul baronetwork dot com. Visit there. You'll see all kinds of cool
17:33
things we've got to air drop happening. Check it out. And if you're
17:36
not following me on X, make sure and do that. It's just at
17:38
Paul Baron. I'll catch you next time right here on Techpath.