Latest / The Paul Barron Crypto Show / CLARITY Dead?💀Crypto vs Bank Corruption Nears Conclusion🔥

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CLARITY Dead?💀Crypto vs Bank Corruption Nears Conclusion🔥 · The Paul Barron Crypto Show

• 0:00
  Speaker 1: There's good news and bad news. Today we're going to
• 0:02
  Speaker 1: be breaking down both. I think some of this will
• 0:04
  Speaker 1: surprise you about clarity, so stick around for the full episode.
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• 1:00
  Speaker 1: guys are not want to miss this one. It is
• 1:02
  Speaker 1: an awesome one. Let's start off with this right here,
• 1:05
  Speaker 1: and that of course is the Crypto Fear and Greed Index.
• 1:07
  Speaker 1: We have not seen a sixteen in a while, and
• 1:10
  Speaker 1: of course we are zooming in on that right now,
• 1:12
  Speaker 1: not necessarily going into the all time low, which clipped
• 1:16
  Speaker 1: in right there at eight nine, and that was back
• 1:21
  Speaker 1: in February.
• 1:21
  Speaker 2: So just think about that where we are.
• 1:23
  Speaker 1: We get a long way to go there and Bitcoin
• 1:25
  Speaker 1: trading around fifty eight right now, so a lot of
• 1:28
  Speaker 1: pressure on the market in general. With that being the case,
• 1:32
  Speaker 1: you've got to look at ethereum. This is something that
• 1:34
  Speaker 1: hasn't happened ever, and that is that ETH is now
• 1:38
  Speaker 1: closing three consecutive quarters in the red for the first
• 1:41
  Speaker 1: time ever.
• 1:42
  Speaker 2: So what went wrong? All right?
• 1:43
  Speaker 1: So coming off of Eath's performance, you've got to look
• 1:46
  Speaker 1: at some of the things that Tom Lee is pointing to,
• 1:49
  Speaker 1: and that is macroheadwinds which are weighing in on Bitcoin
• 1:51
  Speaker 1: and ETH.
• 1:52
  Speaker 2: And the big ones right.
• 1:53
  Speaker 1: There, of course, is what's going on with the FED
• 1:55
  Speaker 1: hike that could potentially be real, the Clarity Act Purgatory,
• 1:59
  Speaker 1: which I'll talk about at link here In a second AI,
• 2:02
  Speaker 1: and of course FOMO and general and of course the
• 2:06
  Speaker 1: issue of private credit hurting flows, which is the outflows
• 2:10
  Speaker 1: we're seeing right now with both eth and bitcoin when
• 2:12
  Speaker 1: it comes to ETFs. With all that being said, you
• 2:15
  Speaker 1: still have time Lee out there purchasing more Eth, and
• 2:18
  Speaker 1: he's doing it in a way of twenty seven thousand
• 2:21
  Speaker 1: eth another forty three million, so putting more pressure on
• 2:24
  Speaker 1: the market. And remember he is still not alone here,
• 2:27
  Speaker 1: of course, is Joseph Luban over a sharp link. They
• 2:30
  Speaker 1: came in and acquired under the ten thousand and an
• 2:32
  Speaker 1: e total holdings right now setting an eight hundred and
• 2:35
  Speaker 1: eighty six thousand worth of EAST so one point four billion.
• 2:39
  Speaker 1: Continuing to hold into this position. There's a lot that
• 2:42
  Speaker 1: could be looked at here that could be good in
• 2:45
  Speaker 1: the sense that the market still has major backing by
• 2:49
  Speaker 1: some of the biggest players out there. And then you
• 2:51
  Speaker 1: also look at where and what needs to happen for
• 2:55
  Speaker 1: this to possibly start to correct. Let me go to
• 2:58
  Speaker 1: a clip real quick, it'll explain.
• 3:00
  Speaker 3: I think there's three things we need to get through
• 3:03
  Speaker 3: in the short term. We need some more clarity around
• 3:07
  Speaker 3: interest rates. We started the year thinking we'd have a
• 3:10
  Speaker 3: seventy five basis point series of cuts. Instead the markets
• 3:13
  Speaker 3: are pricing in a twenty five basis point raise in September.
• 3:17
  Speaker 2: That's incredible.
• 3:18
  Speaker 3: It's incredible. So I think you need the Iran conflict
• 3:21
  Speaker 3: to be cleared out. You need interst rate stability so
• 3:24
  Speaker 3: people understand we might get one raise, but not two
• 3:27
  Speaker 3: or three. And then finally, let's not you can't overstate
• 3:31
  Speaker 3: the Micael Sailor overhang on the price of bitcoin. And
• 3:35
  Speaker 3: when the price of bitcoin is uncertain, the price of
• 3:38
  Speaker 3: almost all other cryptocurrencies are uncertain. But to your point,
• 3:41
  Speaker 3: the cryptocycle is here.
• 3:43
  Speaker 1: And I think this is valid because you are looking
• 3:45
  Speaker 1: at even though stretch has somewhat recovered, not necessarily to
• 3:48
  Speaker 1: par and to what we're seeing right now with micro strategy,
• 3:53
  Speaker 1: just the approach of what eventually will happen, and that
• 3:56
  Speaker 1: is going to be where strategy is going to sell
• 3:59
  Speaker 1: some bitcoin. That's when I want to really see how
• 4:02
  Speaker 1: the market responds, because right now trading well under sixty k,
• 4:07
  Speaker 1: that is going to be the true test of bitcoin.
• 4:09
  Speaker 1: It's also going to be the true test of micro strategy.
• 4:11
  Speaker 1: Moving forward, you have Brad garling House also mentioned Michael
• 4:15
  Speaker 1: Sailor and his opinion of what this has done to crypto.
• 4:18
  Speaker 4: To take a look, I think because they were using leverage.
• 4:21
  Speaker 4: You know, Michael Sailor would characterize it differently than leverage
• 4:24
  Speaker 4: per se, but at the end of the day, it
• 4:26
  Speaker 4: was leverage, and then you start to see that in
• 4:28
  Speaker 4: a place that can actually compound negatively. It added some
• 4:32
  Speaker 4: excitement on the way up, and now that's compounding on
• 4:34
  Speaker 4: the way down as well. I mean, seeing the particular
• 4:38
  Speaker 4: thing that Pegged did one hundred now trade I think
• 4:40
  Speaker 4: twenty five percent below park is a pretty damning indictment,
• 4:44
  Speaker 4: and I don't think that's helped the market. Financial engineering
• 4:47
  Speaker 4: does not drive long term value. Long term value any
• 4:50
  Speaker 4: digital asset is going to be driven by utility. Those
• 4:52
  Speaker 4: things compound in a positive way, and I think if
• 4:55
  Speaker 4: you're just trying a financial engineer and leverage and borrow
• 4:57
  Speaker 4: more money to buy more bitcoin, it's kind of like,
• 4:59
  Speaker 4: you know, look, I think team Michael Saylor wasn't focused
• 5:02
  Speaker 4: on the right stuff, and that has hurt the overall market.
• 5:04
  Speaker 5: So what do you think the utility of bitcoin is now?
• 5:09
  Speaker 1: Speaking of that, of course, you know, with Brat Garling Ausse,
• 5:11
  Speaker 1: he kind of hit it on the head there and
• 5:12
  Speaker 1: the sense of where the real focus is, and that
• 5:15
  Speaker 1: is utility. Utility is going to be very detrimental in
• 5:20
  Speaker 1: the sense that if Clarity doesn't get passed, and I
• 5:23
  Speaker 1: think that's the pressure that we're seeing right now as
• 5:26
  Speaker 1: we see TD going also pushing down on their likelihood
• 5:29
  Speaker 1: of Clarity going through.
• 5:31
  Speaker 2: This is the lowest it's been in a while.
• 5:33
  Speaker 1: Even Galaxy Research came in and they've cut their odds
• 5:36
  Speaker 1: down to fifty to fifty. And then remember this has
• 5:38
  Speaker 1: already started to drop over the last couple of weeks.
• 5:41
  Speaker 1: And there's some reasons here that I think this is happening.
• 5:44
  Speaker 1: I'll explain in a second. I want to go to
• 5:46
  Speaker 1: this tweet real quick because this is an interesting point
• 5:49
  Speaker 1: by Eleanor and it is a reference to JP Morganson.
• 5:53
  Speaker 1: You know, they put a blog post saying Clarity Act
• 5:55
  Speaker 1: could have some benefits, but they praised digital assets for
• 5:58
  Speaker 1: their potential to enable tokenization and modernize the financial infrastructure.
• 6:03
  Speaker 1: They stopped short of endorsing specific legislation, so I think
• 6:08
  Speaker 1: they believe they can get this done pretty much without
• 6:11
  Speaker 1: So it basically suggests JPM says it can already innovate
• 6:14
  Speaker 1: responsibly under today's regulatory framework as it is, and that
• 6:17
  Speaker 1: of course puts more pressure on the current situation and
• 6:21
  Speaker 1: more pressure on many crypto companies that we're looking to
• 6:25
  Speaker 1: Clarity to create that utility. So this simply means they
• 6:29
  Speaker 1: just don't want Clarity to make it through. I think
• 6:32
  Speaker 1: this is where they see eventually the death of trad FI.
• 6:36
  Speaker 1: And I'll explain why, because there's a big reveal today
• 6:38
  Speaker 1: I'll be talking about that puts a lot of pressure
• 6:41
  Speaker 1: on trad FI and it's going to come from places
• 6:44
  Speaker 1: you guys may have not expected. One other thing that
• 6:47
  Speaker 1: you got to look at is the regulatory framework. And
• 6:50
  Speaker 1: the reason I say that is it's the politics that
• 6:53
  Speaker 1: are being played right now. You've got a hearing coming
• 6:56
  Speaker 1: over by the House which is already past clarity of
• 7:00
  Speaker 1: the House, and for the Senate to basically come back
• 7:03
  Speaker 1: with a bill. Now we're dealing with this kind of BS,
• 7:06
  Speaker 1: which to me is just you know, grandstanding or trying
• 7:10
  Speaker 1: to do something that maybe would get some attention. The
• 7:13
  Speaker 1: problem is is this is definitely going to be a push.
• 7:16
  Speaker 1: So when you look at the calendar and who are
• 7:20
  Speaker 1: you know, lawmakers and what our lawmakers are doing what
• 7:23
  Speaker 1: you see it right there. They're already on vacation. It's
• 7:25
  Speaker 1: July fourth week as we record this. This of course,
• 7:28
  Speaker 1: is going to be going through the tenth of July,
• 7:31
  Speaker 1: returning on the thirteenth, and we only have basically three weeks,
• 7:36
  Speaker 1: and there's a lot more happening. And yes, you sure
• 7:39
  Speaker 1: you have that last week in August, but I anticipate
• 7:41
  Speaker 1: that will be closure week in the sense that they
• 7:44
  Speaker 1: won't do anything for that because then you have the
• 7:46
  Speaker 1: August session that ends, and most of them are probably
• 7:50
  Speaker 1: going to leave that week and you know, finish out
• 7:52
  Speaker 1: the rest because they won't come back into session until
• 7:54
  Speaker 1: late or mid September, and by then everybody's moving into
• 7:57
  Speaker 1: midterms at that point, and they'll granted, here's what I expect,
• 8:03
  Speaker 1: we'll get continuation of both the Dems and the Republicans saying,
• 8:07
  Speaker 1: oh no, no, we're going to keep on pushing it.
• 8:09
  Speaker 1: We're going to keep on getting it. It's gonna come.
• 8:11
  Speaker 1: It's coming, don't worry, it's coming. Here is Mike Johnson saying,
• 8:15
  Speaker 1: we're hard at work.
• 8:16
  Speaker 5: Take a look tomorrow, we're bringing them all back. We've
• 8:18
  Speaker 5: got a big week ahead of us. Of work before
• 8:21
  Speaker 5: you begin all the celebrations on the weekend. Much more
• 8:24
  Speaker 5: left to do. We've got the National Defense Authorization Act,
• 8:26
  Speaker 5: we have appropriations where we're spending less money, and we
• 8:30
  Speaker 5: have the Foreign Intelligence Surveillance Act we've got to reauthorize.
• 8:32
  Speaker 5: We've got the Surface Transportation Bill, and of course Reconciliation
• 8:36
  Speaker 5: three point zero. I got to have everybody working here
• 8:38
  Speaker 5: on all cylinders. I am very bullish about the midterms.
• 8:41
  Speaker 5: Let me just tell you right now, we are ready
• 8:43
  Speaker 5: for this fight. We have a great record to run on.
• 8:45
  Speaker 5: You just heard our extraordinary Treasury sectuary. People are so motivated,
• 8:49
  Speaker 5: and we have the President of the United States running
• 8:51
  Speaker 5: like it's twenty twenty four. Okay, he's out doing campaigns
• 8:54
  Speaker 5: and rallies. And you get to look right into the
• 8:55
  Speaker 5: eyes of the camera and say, here's.
• 8:57
  Speaker 2: What I would like to say.
• 8:59
  Speaker 1: It's just about every thing is a big yawn.
• 9:04
  Speaker 2: A big yawn, he says.
• 9:05
  Speaker 5: Y'all impeachments, not even the big concern. They will turn
• 9:08
  Speaker 5: every committee of Congress into an investigative body, and they'll
• 9:10
  Speaker 5: go after the president's family. The cabinet is donors and friends.
• 9:13
  Speaker 5: Half of you in this room will be targeted. I
• 9:15
  Speaker 5: run the protection program, I'll take care of you. Okay,
• 9:17
  Speaker 5: we're gonna win. We're gonna win a matter Okay.
• 9:19
  Speaker 1: They're just teasing us along saying, yeah, we're gonna get
• 9:22
  Speaker 1: this done. We got all these other things that are happening,
• 9:25
  Speaker 1: which goes to other special interest groups. And of course,
• 9:28
  Speaker 1: right now, when you look at whether or not they
• 9:30
  Speaker 1: can win the midterms, you can go to the polymarket
• 9:33
  Speaker 1: right here. The Senate right now, ironically has been showing
• 9:37
  Speaker 1: out with the Republicans in a position of power holding
• 9:40
  Speaker 1: the Senate. Now, whether they hold the House, that's the
• 9:44
  Speaker 1: real question. I think most likely that gets lost. But
• 9:46
  Speaker 1: the key here is still the issue of them raising money,
• 9:50
  Speaker 1: meaning they need to be able to drag along their
• 9:53
  Speaker 1: donors and one of the biggest classes of donors is
• 9:56
  Speaker 1: coming from the crypto category. And the way they're going
• 9:59
  Speaker 1: to do it is to continue to push down the
• 10:02
  Speaker 1: clarity track. We're at the lowest percentage that we have
• 10:05
  Speaker 1: seen now, thirty nine percent. I mean, when's the last
• 10:08
  Speaker 1: time we saw this? Did we even see one down there?
• 10:10
  Speaker 2: Yeah?
• 10:11
  Speaker 1: Thirty nine percent right there on January twenty second was
• 10:14
  Speaker 1: the last lowest period of time that we were dealing with,
• 10:17
  Speaker 1: and of course this continues to drop in more pressure
• 10:21
  Speaker 1: right now in general, here's a good example of this.
• 10:23
  Speaker 1: For months, it's felt like yep, next month, actually next month, no, definitely.
• 10:29
  Speaker 2: The month after that.
• 10:30
  Speaker 1: That's exactly how important bills die quietly and slowly. That
• 10:36
  Speaker 1: is where I think we are right now. Unfortunately, this
• 10:39
  Speaker 1: may be a problem. One other thing when you look
• 10:42
  Speaker 1: at Claire, here's Metelama and James kind of talking about this.
• 10:44
  Speaker 1: What'd be worse than voting down the Clarity Act? And
• 10:46
  Speaker 1: that is where thun and that one refuse to bring
• 10:49
  Speaker 1: it to the floor. Problem is, and yes, it could happen,
• 10:52
  Speaker 1: but the problem is if they go to the Senate
• 10:54
  Speaker 1: floor without the votes, this thing fails. And the reason
• 10:59
  Speaker 1: that that would happen might be on purpose. If we
• 11:02
  Speaker 1: get them pushing and tanking the Clarity Bill, what would
• 11:05
  Speaker 1: they do that for well, to raise money going into
• 11:08
  Speaker 1: the midterms. Look what happened. If we want to save crypto,
• 11:12
  Speaker 1: we need more money. That's exactly what could come on
• 11:14
  Speaker 1: in terms of being able to get more lobby money
• 11:18
  Speaker 1: going into this market and from this market to try
• 11:21
  Speaker 1: to save the Clarity Act in general. Okay, one other
• 11:25
  Speaker 1: point I want to get at is what's happened right
• 11:27
  Speaker 1: now with the Supreme Court. They drop the hammer, no
• 11:29
  Speaker 1: more restrictions on political parties on big spending with their candidates.
• 11:33
  Speaker 1: The reason this is important is because now, let's say
• 11:36
  Speaker 1: that they continue to go after the crypto market to
• 11:39
  Speaker 1: get money for campaigning. Okay, and right now it's seen
• 11:43
  Speaker 1: as a Republican position. So if you're out there putting
• 11:47
  Speaker 1: money into the Republican Party, what happens if this gamble
• 11:51
  Speaker 1: goes bad and the Republicans lose, Well, who are you
• 11:55
  Speaker 1: going to go against? You're going to go against the
• 11:56
  Speaker 1: donors and the campaign lobbies that were out there pushing
• 12:00
  Speaker 1: to put you out of office, meeting the Democrats. So this,
• 12:03
  Speaker 1: I think is a very risky, risky issue that we're
• 12:06
  Speaker 1: facing right now. Here's Elizabeth Warren saying that, you know,
• 12:09
  Speaker 1: typical you know, rhetoric from her more evidence adversary's export
• 12:13
  Speaker 1: clip crypto to move billions. The Clarity Act as it's
• 12:17
  Speaker 1: currently would make this problem worse. This is the kind
• 12:19
  Speaker 1: of rhetoric that we continue to see coming out of
• 12:23
  Speaker 1: of course, Senator Warren. And it's not going to change,
• 12:25
  Speaker 1: It's going to continue in that direction. The other thing
• 12:28
  Speaker 1: is that you've got the Senate Democratic leaders calling for
• 12:31
  Speaker 1: hearings to the extent of Donald Trump's and his family's
• 12:35
  Speaker 1: situation inform crypto deals. So this could be interesting if
• 12:39
  Speaker 1: we start seeing hearings and all those kind of things.
• 12:41
  Speaker 2: This could get bad quick in.
• 12:43
  Speaker 1: The United States because of so much corruption that we've
• 12:47
  Speaker 1: got going in the United States government. Speaking of corruption,
• 12:51
  Speaker 1: here's more of those kinds of manipulations that are being
• 12:55
  Speaker 1: done out there. Now you have tribal nations that are
• 12:57
  Speaker 1: pushing back on Clarity mainly because remember most of the
• 13:00
  Speaker 1: tribal nations have great businesses in the gambling category, and
• 13:06
  Speaker 1: of course they look at polymarket calshe etc. When you
• 13:10
  Speaker 1: look at prediction markets as an existential threat to tribal gaming.
• 13:14
  Speaker 1: So this is another factor that's being pushed which really
• 13:16
  Speaker 1: doesn't apply to the Clarity Act. But the point is
• 13:18
  Speaker 1: they're being drawn in on it. This is a problem
• 13:21
  Speaker 1: that's being joined into a variety of different special interest
• 13:25
  Speaker 1: groups and even to the religious side of things. We
• 13:28
  Speaker 1: did a whole video on this and that was where
• 13:31
  Speaker 1: we had seen even the Catholic faith being in a
• 13:34
  Speaker 1: position where they didn't want to support this, and when
• 13:39
  Speaker 1: they heard all of this, someone decided to reach out
• 13:43
  Speaker 1: to them and say, let's ask them why.
• 13:45
  Speaker 2: Take a look.
• 13:47
  Speaker 6: Katie Buller Goswitch, who is the executive director of the
• 13:50
  Speaker 6: Alliance to End Human Trafficking, They, along with the Catholic Charities,
• 13:54
  Speaker 6: sent out a letter earlier this week again to Senators
• 13:57
  Speaker 6: fun and Schumer. Obviously, end in human trafficking is in
• 14:01
  Speaker 6: a very very important issue.
• 14:04
  Speaker 5: You know.
• 14:05
  Speaker 6: One of the things that the Clarity Act does is
• 14:06
  Speaker 6: it brings crypto within the regulatory perimeter.
• 14:09
  Speaker 2: And so what else do you think.
• 14:10
  Speaker 6: You need in the Clarity Act in order to be
• 14:14
  Speaker 6: able to make sure that these types of law enforcement
• 14:17
  Speaker 6: concerns are addressed.
• 14:19
  Speaker 7: I you know, don't know if I can speak to
• 14:21
  Speaker 7: what else can be added to the Clarity Act. I
• 14:24
  Speaker 7: do know that there is that piece in Section six
• 14:27
  Speaker 7: O four sort of looks at these third party platform creators.
• 14:32
  Speaker 8: Why it makes sense to think about like DeFi developers
• 14:37
  Speaker 8: as engaging in money transmission in the first place. I mean,
• 14:40
  Speaker 8: that's what really this is about. They don't seem, on
• 14:43
  Speaker 8: the face of it to be money transmitters.
• 14:45
  Speaker 7: They don't seem perhaps to be money transmitters on the
• 14:49
  Speaker 7: face of it, and I think that's that's the rub.
• 14:51
  Speaker 7: But in reality, I think you know they will be
• 14:55
  Speaker 7: involved in money transferring in some way, shape or form. Interesting.
• 14:59
  Speaker 6: So so what's six O four. The language of it
• 15:01
  Speaker 6: actually says is if you do not have control over
• 15:05
  Speaker 6: user funds, you're not a money transmitter. That doesn't say
• 15:09
  Speaker 6: you won't have criminal intent for other things that may happen,
• 15:12
  Speaker 6: or if you knowingly engage in other types of criminal activity,
• 15:15
  Speaker 6: you're not liable. But that's pretty consistent with both the
• 15:19
  Speaker 6: Bank Secrecy Act and Fincenn's guidance for many, many years.
• 15:23
  Speaker 6: There are other provisions of the bill that say, if
• 15:26
  Speaker 6: you do have control, you are liable. Will actually address
• 15:29
  Speaker 6: your concern.
• 15:30
  Speaker 7: And I'm not an attorney, but I think it could
• 15:32
  Speaker 7: open up the idea of reasonable doubt. I'm just a
• 15:36
  Speaker 7: normal person who you know as a normal understanding of
• 15:39
  Speaker 7: the legal system. But so no offense, not on I
• 15:44
  Speaker 7: will not take offense to that.
• 15:46
  Speaker 1: So there, Yeah, this is the kind of thing that
• 15:48
  Speaker 1: I think happens out there as you get special interest
• 15:50
  Speaker 1: groups that look at this and they try to say, oh, yeah,
• 15:54
  Speaker 1: this is bad for you know, whatever our initiative is
• 15:56
  Speaker 1: in their particular case a very good one. Human trafficking,
• 15:59
  Speaker 1: that's a big, very big concern. But when you look
• 16:03
  Speaker 1: at the video, I was this is very unusual. If
• 16:07
  Speaker 1: you guys will notice on the video, let's cut to
• 16:10
  Speaker 1: that and just look at the background of what is
• 16:13
  Speaker 1: behind her. I don't get it because it's almost it's
• 16:15
  Speaker 1: almost dystopian in the sense when you look at the
• 16:17
  Speaker 1: ISSR on where this is kind of the all seeing
• 16:20
  Speaker 1: I it's almost like the all seeing eye of the
• 16:23
  Speaker 1: banking industry that's starting to look of this is the
• 16:26
  Speaker 1: kind of thing that's happening out there right now. Another
• 16:30
  Speaker 1: thing that's happening is you have other countries, and in
• 16:32
  Speaker 1: this particular case the EU, multiple countries actually coming in
• 16:37
  Speaker 1: with Hammer Day, and that is what's happening right now
• 16:39
  Speaker 1: because this is MIKA Day. Major exchanges right now, EU, MECA,
• 16:43
  Speaker 1: CASP authorization, OKX leading the way right there, and of
• 16:48
  Speaker 1: course it's nine out of ten services right there. But
• 16:50
  Speaker 1: what you will notice your coin based in therap at
• 16:53
  Speaker 1: stampcrypto dot com. Pretty much all the majors with exception
• 16:57
  Speaker 1: of one and that of course Finance not in there
• 17:01
  Speaker 1: and have withdrawn from MIKA accreditation so big factors happening.
• 17:06
  Speaker 1: This means that we're going to continue to see pushes
• 17:10
  Speaker 1: in the market meeting. There's going to be a lot
• 17:12
  Speaker 1: more competition. Tether canacum. This is a good example. Tether
• 17:15
  Speaker 1: now of course facing removal that has happened today. So
• 17:20
  Speaker 1: all of that tether, basically liquidity that's in the EU
• 17:24
  Speaker 1: now out only setting on an opportunity for r l
• 17:27
  Speaker 1: usd USDC, et cetera. When you look at what's going
• 17:31
  Speaker 1: on in the EU, you kind of wonder with finance,
• 17:33
  Speaker 1: this of course is where cz said failed mega license
• 17:36
  Speaker 1: a loss for Europe. Sar Zoo from okx fireback says,
• 17:39
  Speaker 1: what exactly did Europe lose? Another October eleven crash? Man? Oh,
• 17:46
  Speaker 1: shots fired right there, and I want to go to
• 17:48
  Speaker 1: a clip on this because this will explain a little
• 17:50
  Speaker 1: bit more.
• 17:51
  Speaker 2: Take a look.
• 17:52
  Speaker 4: Ik X has founder stars You has been taking a
• 17:55
  Speaker 4: lot of public shots at Finance, and you personally.
• 18:00
  Speaker 9: Left early twenty fifteen. I thought we left on good terms.
• 18:03
  Speaker 9: And then a couple of years later I launched binance
• 18:05
  Speaker 9: right together with a E and we obviously overtok okay
• 18:07
  Speaker 9: coin by a by probably orders of magnitude. From that
• 18:11
  Speaker 9: point on. Look, that's the past. They may have a
• 18:15
  Speaker 9: personal imbalance, etceter. Some psychological effect there. We have plenty
• 18:21
  Speaker 9: of jealousy people and people who are jealous at our success. Look,
• 18:24
  Speaker 9: if you're jealousy, it's okay. But I think for a
• 18:26
  Speaker 9: direct competitor to lash out and another direct competitor, it's
• 18:29
  Speaker 9: kind of childish. It's just very childish. It actually makes
• 18:32
  Speaker 9: me worry much less about that particular competition, so worry
• 18:36
  Speaker 9: much more about other competitors who focus on their product.
• 18:39
  Speaker 2: Yeah, all right, I don't know what to say to that.
• 18:41
  Speaker 1: I'm always worried about any major that lashes out because
• 18:45
  Speaker 1: there's usually something behind that. And this is I think
• 18:48
  Speaker 1: this is a major loss for finance. The EU is
• 18:51
  Speaker 1: going to be a major player in the crypto market
• 18:54
  Speaker 1: going forward. For them not to be there just does
• 18:57
  Speaker 1: not make sense. And I think eventually they will regret
• 19:01
  Speaker 1: that decision. But of course, you know one that's not
• 19:03
  Speaker 1: going to regret that decision, and that is Ripple, because
• 19:06
  Speaker 1: the EU just handle Ripple a gift finance the world
• 19:09
  Speaker 1: is because Exchange now winding down, rl USD is now
• 19:13
  Speaker 1: the rail pipe that's going to be happening Ripple already
• 19:16
  Speaker 1: owns this and it is happening now because that is
• 19:19
  Speaker 1: stable coin liquidity coming out of tether right into r
• 19:23
  Speaker 1: l USD. I want to see what the numbers look
• 19:25
  Speaker 1: like in sixty days, ninety days on what rl usd's
• 19:29
  Speaker 1: market cap is. I anticipate we'll see a pretty major
• 19:31
  Speaker 1: move there, even with down market in general. All Right,
• 19:34
  Speaker 1: I guess, so let's get into the good news, because
• 19:36
  Speaker 1: I know there's a lot of comments down there calling
• 19:38
  Speaker 1: me Paul the Bear, Paul Barrish. I think it's Paul Bullish,
• 19:42
  Speaker 1: and the reason is what we're seeing happen right now
• 19:46
  Speaker 1: around trad Fight, but also in the area of defunt.
• 19:48
  Speaker 1: I'll explain in a second. But right now you've got
• 19:50
  Speaker 1: robin Hood has confirmed it's crypto event. There's going to
• 19:52
  Speaker 1: be big announcements here. Expect that we are going to
• 19:55
  Speaker 1: see token is stocks and I think a lot more
• 19:58
  Speaker 1: in terms of purpose and two RULs that are really
• 20:00
  Speaker 1: going to open this up. Granted, this is one of
• 20:03
  Speaker 1: those that I think will get exposure into more adoption
• 20:06
  Speaker 1: in the space. Remember robin Hood and their demographic, the
• 20:10
  Speaker 1: average holder, the average age, all that is going to
• 20:13
  Speaker 1: be good. I think for crypto in general. Another bullish
• 20:16
  Speaker 1: thing this is in reference to what's going on within
• 20:18
  Speaker 1: the eth ecosystem.
• 20:19
  Speaker 2: You have ubs.
• 20:19
  Speaker 1: It's a big bank and another mind complete a compliance
• 20:23
  Speaker 1: proof of concept on ether. And what this did was
• 20:27
  Speaker 1: the test showed that banks can now apply Let me
• 20:29
  Speaker 1: kind of zoom in on that for you, guys can
• 20:31
  Speaker 1: apply compliance checks through systems they run on top of ethereum,
• 20:34
  Speaker 1: so without changing how ethereum itself works.
• 20:37
  Speaker 2: This approach keeps the network.
• 20:39
  Speaker 1: Open and neutral and ensures the solution remains compatible with
• 20:42
  Speaker 1: the wider ecosystem. So what this means is there are
• 20:46
  Speaker 1: some chains I won't mention their names that might be
• 20:48
  Speaker 1: out there looking at this and go, wait, the banks
• 20:51
  Speaker 1: can do this themselves. I don't need a chain to
• 20:53
  Speaker 1: connect the banks. Imagine what that might do to I
• 21:00
  Speaker 1: don't know, Maybe it's nothing. You guys tell me in
• 21:03
  Speaker 1: the comments. I'm sure i'll get a few. One other
• 21:05
  Speaker 1: thing that happened is this right here, and that is
• 21:08
  Speaker 1: the launch of another stable coin. We've got open USD,
• 21:11
  Speaker 1: which is OUSD Patrick quick commenting on this, and the
• 21:14
  Speaker 1: point behind this is there's some big players here, guys
• 21:17
  Speaker 1: strip behind it primarily, but Visa also joining this American
• 21:21
  Speaker 1: Express Coinbase Blackrock, So if you look at the partner list,
• 21:25
  Speaker 1: there's still a lot in there. I mean avi's at
• 21:26
  Speaker 1: the top of the list. Further on down you've got Galaxy,
• 21:30
  Speaker 1: all sorts of bank organizations, including a lot of the
• 21:34
  Speaker 1: payment rail systems out there, and that would include Ripple
• 21:37
  Speaker 1: as well, so big deals out there. One concern I
• 21:40
  Speaker 1: would have would be this right here, and that is
• 21:43
  Speaker 1: most revenue generated from reserves minus small management fee two
• 21:48
  Speaker 1: participants who adopt and distributed. So what happens when that
• 21:51
  Speaker 1: management fee changes or there's more pressure on that, And
• 21:55
  Speaker 1: it's in a situation where we could be going into
• 21:58
  Speaker 1: a problem where this still challenges other stable coins. Circle
• 22:03
  Speaker 1: though taking it on the chin right there, coinbase already
• 22:06
  Speaker 1: eats half the usdc's interest income. Now they're co founding
• 22:10
  Speaker 1: the replacement, which would be OUSD and of course circle
• 22:14
  Speaker 1: Stock definitely took a beating on that news. Jeremy Alaire
• 22:19
  Speaker 1: commented on that we welcome the continued innovation and competition
• 22:23
  Speaker 1: in the space, and we look forward to a remaining
• 22:26
  Speaker 1: laser focused on building the best stable coin infrastructure possible
• 22:31
  Speaker 1: for more customer and partner success. Those are the I
• 22:35
  Speaker 1: don't know if that shots fired or not, but point
• 22:38
  Speaker 1: is you've got Jeremy Alaire addressing it, welcome ousd there's
• 22:42
  Speaker 1: Paulo d'arnoo. Of course, hit it's on it. This is
• 22:45
  Speaker 1: Teather in general. Player two is enter the game. I
• 22:48
  Speaker 1: like Pelayer down here, Gaborg can kind of hit on
• 22:50
  Speaker 1: it right there, more like player ninety nine. News on
• 22:53
  Speaker 1: something that's happening right now. At the break of what's
• 22:57
  Speaker 1: going on with x money is Meta mask Money is
• 23:00
  Speaker 1: now also launched, and there's a lot here, including earning
• 23:05
  Speaker 1: up to four percent APY on your stable coins. So
• 23:09
  Speaker 1: you've got all of that and so much more that
• 23:11
  Speaker 1: seems to be happening. Not an advertiser, not a sponsor,
• 23:15
  Speaker 1: but when I look at what's going on here with metamass,
• 23:18
  Speaker 1: this could get very interesting in the DeFi sector. Four
• 23:22
  Speaker 1: percent on apy, and I think the tap this is
• 23:25
  Speaker 1: probably one of the best apps out there right now.
• 23:27
  Speaker 1: Make gains between trades. Now you can spend it with
• 23:30
  Speaker 1: your new you know, credit card or debit card within this,
• 23:34
  Speaker 1: so directly becoming your own bank. Up to three percent
• 23:37
  Speaker 1: back on this and using Apple pay gpay. So there's
• 23:41
  Speaker 1: an opportunity right here. I don't know if people will
• 23:45
  Speaker 1: flock to this yet or not, but I anticipate the
• 23:49
  Speaker 1: younger generations will start to look at this is maybe
• 23:52
  Speaker 1: the new bank account for themselves, especially with these kinds
• 23:55
  Speaker 1: of rewards and these kind of earnings in terms of yield.
• 23:58
  Speaker 2: So that is huge, huge for the market. The way
• 24:02
  Speaker 2: it works.
• 24:02
  Speaker 1: Because I know many of people how they can how
• 24:04
  Speaker 1: can they do that? Well, this is the way it works.
• 24:06
  Speaker 1: Go over to Vita Labs you can follow them. This
• 24:08
  Speaker 1: is essentially the book blueprint, depositive token, auto convert to MusD.
• 24:14
  Speaker 1: This is the issue to stable coin, and then that's
• 24:17
  Speaker 1: routed to the Vita vault. Okay, using monad and earn
• 24:21
  Speaker 1: on Morpho, which is one of the best ones out there,
• 24:23
  Speaker 1: cured by Steakhouse. Remember that's who's managing all of these
• 24:27
  Speaker 1: kinds of activities over on coinbase.
• 24:30
  Speaker 2: No gas, no sign ups, no swaps.
• 24:32
  Speaker 1: And the best thing here, and this is the reason
• 24:34
  Speaker 1: why I think it might be better than X is
• 24:36
  Speaker 1: it's free.
• 24:37
  Speaker 2: So think about X money.
• 24:39
  Speaker 1: X money right now may only be available to premium
• 24:43
  Speaker 1: members or at the very base, the eight dollars member.
• 24:48
  Speaker 1: That's still almost one hundred bucks a year and I
• 24:52
  Speaker 1: just don't know if that can ever make it. If
• 24:54
  Speaker 1: this is not free. Can you imagine though, having a
• 24:56
  Speaker 1: free bank account, Guys, a free bank account. Put that
• 24:59
  Speaker 1: in your mind, because it's coming and it's coming soon.
• 25:03
  Speaker 1: One other note is UK government looking to tax interests
• 25:06
  Speaker 1: earned on cash on stocks, so cash interest this of
• 25:10
  Speaker 1: course is going up to twenty two percent. This would
• 25:12
  Speaker 1: be pretty significant when you look at that approach now
• 25:16
  Speaker 1: starting to move into DeFi just think about that, because
• 25:19
  Speaker 1: we are going to see a whole I think, a
• 25:22
  Speaker 1: whole new set of products that are coming out to
• 25:26
  Speaker 1: DeFi that essentially are going to become more innovative than
• 25:29
  Speaker 1: what we have seen in traditional finance, which is essentially
• 25:33
  Speaker 1: the death of banks. Think about that for a second.
• 25:35
  Speaker 1: They've been fighting all of this, banks, fighting clarity and
• 25:39
  Speaker 1: all of this, but at the same time, all they're
• 25:41
  Speaker 1: doing is paving a way for possibly the new financial
• 25:46
  Speaker 1: system to be in place. One other note I want
• 25:48
  Speaker 1: to get at here because this is a statement out
• 25:51
  Speaker 1: there by Luigi and he hit on something right here,
• 25:53
  Speaker 1: and this is in Robinhood. Robinhood and Schwab right now
• 25:56
  Speaker 1: earn a sizeable revenue by lending out the stocks. Right,
• 25:59
  Speaker 1: the typically keep fifty to eighty five percent of the
• 26:02
  Speaker 1: borrow fees, passing the rest on to you stockholder.
• 26:04
  Speaker 2: Right, Well, this is what AVE launches.
• 26:07
  Speaker 1: Stannie came in and said, the protocol is expanding to
• 26:09
  Speaker 1: a total addressable market for crypto assets, all assets classed
• 26:13
  Speaker 1: through security back loans and securities lending.
• 26:15
  Speaker 2: So there you have it.
• 26:16
  Speaker 1: This is four point six trillion in securities on loan
• 26:20
  Speaker 1: and it generates about thirty five billion in annual revenue.
• 26:23
  Speaker 1: This is happening, guys because clarity is not in place.
• 26:27
  Speaker 1: This is the problem that the rest of the world
• 26:30
  Speaker 1: is going to be able to get access to these
• 26:32
  Speaker 1: kind of tools product services that are absolutely going to
• 26:35
  Speaker 1: dwarf traditional finance and it is going to be a
• 26:40
  Speaker 1: slow but fast death for them.
• 26:43
  Speaker 2: I put out a statement right there.
• 26:45
  Speaker 1: X money could be the real threat to banks, but
• 26:47
  Speaker 1: the slow rollout is going to deter users and allow
• 26:50
  Speaker 1: competitors to catch up. I think they already have, and
• 26:52
  Speaker 1: I think the point being is that it's free. Now
• 26:56
  Speaker 1: you're also dealing with something that this is just the beginning.
• 26:59
  Speaker 1: Imagine what are going to see from the rest of
• 27:01
  Speaker 1: the major DeFi players. Coming into this market. I get
• 27:04
  Speaker 1: what ex is trying to do, but I don't know
• 27:06
  Speaker 1: if they can break it unless they make it absolutely free,
• 27:09
  Speaker 1: meaning any Twitter account, a free Twitter account can come in.
• 27:13
  Speaker 2: They should. I mean, that would be the way to
• 27:15
  Speaker 2: do it, because.
• 27:15
  Speaker 1: You're getting basically money on money of how this could
• 27:19
  Speaker 1: be done, and I think that's the only way they
• 27:21
  Speaker 1: could even compete in this market. Going forward, things are
• 27:24
  Speaker 1: about to change for the good, so stay tuned. If
• 27:35
  Speaker 1: you like this video, like and subscribe, drop a comment
• 27:37
  Speaker 1: down below, and also join our free private member group.
• 27:41
  Speaker 2: The link is in the description.