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Gensler Returns!🔥Crypto Bottom?📉SALT INTERVIEW · The Paul Barron Crypto Show

0:00
Speaker 1: Is the bottom end. Today we're going to be breaking
0:01
Speaker 1: it down for you and some exciting news around Gary Gensler.
0:05
Speaker 1: You don't want to miss it. Let's just jump right in.
0:07
Speaker 1: I do want to mention here, guys that we have
0:09
Speaker 1: one of our sponsors that's going to work with us
0:11
Speaker 1: on this one, which of course is Salt Lending. If
0:13
Speaker 1: you guys have not checked out Salt Lending, this is
0:15
Speaker 1: a place where you, of course you can go to
0:17
Speaker 1: do all sorts of things around unlocking your wealth potential
0:21
Speaker 1: for your bitcoin. So check it out. Use the code
0:24
Speaker 1: down below. It kind of helps things out with the channel.
0:28
Speaker 1: And I wanted to bring in Shane Crockett who we've
0:30
Speaker 1: had Shane on a couple of times. We've also had
0:33
Speaker 1: a hunter on, but don't going to bring Shane Crockett in,
0:35
Speaker 1: who is the head of private client services over at salt.
0:39
Speaker 1: How are you, Shane.
0:42
Speaker 2: Ball going to see you again? Thanks for having me.
0:44
Speaker 1: Yeah, let's get into a little bit of what's going on.
0:47
Speaker 1: If the market has bottom that usually we're looking for
0:50
Speaker 1: signals that indicate that. And one of the things that
0:54
Speaker 1: is a signal at least I think is when we
0:56
Speaker 1: have someone like a Gary Gensler that pops up out
0:59
Speaker 1: of nowhere. Let me play a clip for you that
1:01
Speaker 1: I want to get your opinion.
1:02
Speaker 3: Take a look. What do you think of this? We've
1:04
Speaker 3: spent a lot of time talking about this.
1:06
Speaker 2: I think it's a risk asset.
1:07
Speaker 4: All the thousands of other tokens, not the stable coins
1:11
Speaker 4: that are backed by US dollars, but all the thousands
1:14
Speaker 4: of their tokens. You have to ask yourself what's the fundamentals.
1:18
Speaker 4: You don't get a dividend, you don't get usual returns,
1:21
Speaker 4: and so the investing public just needs to be.
1:25
Speaker 1: Aware of those risks.
1:26
Speaker 4: The US have the greatest capital markets and they benefit
1:30
Speaker 4: from a common sense rules of the road, and you
1:33
Speaker 4: want to know that you're getting the same treatment as
1:38
Speaker 4: you know, the big investors. That's the severeness in these
1:41
Speaker 4: capital markets that are so important.
1:44
Speaker 1: All right, So there you have it, Gary Gensler coming
1:47
Speaker 1: back in and futting now bitcoin. And the point that
1:50
Speaker 1: I think a lot of people are looking at here, Shane,
1:53
Speaker 1: is why you know when you look at one thing
1:55
Speaker 1: Ron Hamlin was talking about, which I think is accurate.
1:58
Speaker 1: He is another typical place book reaction we've seen legacy
2:01
Speaker 1: media now pushing the general crypto industry is bad narrative. This,
2:05
Speaker 1: of course, is right before a key congressional vote. Sixty
2:09
Speaker 1: minutes last night on CZ went after a New York
2:13
Speaker 1: Time piece on AML. I mean, this is like it's
2:16
Speaker 1: it's choreographed. It's just constantly hitting us. When you look
2:21
Speaker 1: at that, and then you think about the amount of
2:23
Speaker 1: bitcoin investors that are out there, digital asset investors, You
2:27
Speaker 1: think anybody's paying attention to these guys anymore?
2:31
Speaker 2: Yeah, I mean, I think there are still people that
2:34
Speaker 2: tune in to the you know, the talking heads, if
2:37
Speaker 2: you will, and take their opinions to art. But there's
2:40
Speaker 2: never any shortage of fun when it comes to digital assets, crypto, bitcoin,
2:46
Speaker 2: and you know, I don't think that's ever going to change.
2:48
Speaker 2: I think to counter somebody's argument like this, I mean,
2:51
Speaker 2: what just happened last week. Look at you know, Bank
2:54
Speaker 2: of America's support and van guard Right, Vanguard and JP Morgan,
2:58
Speaker 2: the biggest insiit coin anti digital Asset TRAB five players
3:03
Speaker 2: in the world are now in support and offering products
3:07
Speaker 2: and opening up their brokerage clients to be able to
3:10
Speaker 2: buy ibit and other df So it's like, you know,
3:12
Speaker 2: I take this stuff with the grain of salt.
3:15
Speaker 1: You mentioned Vanguard, and this was something we talked about
3:18
Speaker 1: quite a bit last week with Vanguard stepping in, and
3:22
Speaker 1: especially for you guys, because you've got key asset managers
3:26
Speaker 1: out there that are thinking, Hey, I've got a client
3:27
Speaker 1: here that's got a lot of bitcoin. They're not wanting
3:30
Speaker 1: to sell it, they're wanting to go in. I know,
3:32
Speaker 1: you manage a lot of those kinds of clients. With
3:35
Speaker 1: Vanguard stepping in, JP Morgan already kind of having their
3:39
Speaker 1: hand forced into this, has this kind of paved the
3:42
Speaker 1: way for major clients to jump into things like bitcoin lending.
3:49
Speaker 2: I think so yeah. I mean I don't know if
3:51
Speaker 2: it's necessarily paving the way, but it's certainly adding some credibility.
3:56
Speaker 2: I mean, when those kinds of names get into this
3:58
Speaker 2: asset class, it just continues to signal to the broader
4:02
Speaker 2: market like this asset class is for real. And yeah,
4:05
Speaker 2: it gives more credibility to this idea of doing more
4:08
Speaker 2: than just hoddling. Right, people are really looking at how
4:11
Speaker 2: do I how do I not just you know, buy
4:13
Speaker 2: a house and live in it. How can I put
4:15
Speaker 2: that asset to work for me to reinvest and to
4:18
Speaker 2: do other things and have a more broad, you know,
4:21
Speaker 2: financial strategy. And that's what we're seeing from a lot
4:24
Speaker 2: of the folks that I support through private client services
4:27
Speaker 2: is Hey, I've got some bitcoin, I want to buy
4:29
Speaker 2: more bitcoin, I want to buy real estate, to acquire
4:32
Speaker 2: a business, I have a large IRS tax bill, or
4:36
Speaker 2: you know, I want to augment my retirement. What are
4:39
Speaker 2: some strategies that you guys can help me implement? And so,
4:42
Speaker 2: you know, names like Vanguard, GP, Morgan Bank of America
4:45
Speaker 2: kind of putting you know, bitcoin in their portfolios and
4:48
Speaker 2: allowing their investors and their other folks to take part.
4:52
Speaker 2: In my mind, just signals that this asset class is
4:55
Speaker 2: for real.
4:56
Speaker 1: Yeah, for sure. I want to before I go over
4:58
Speaker 1: to rate cuts and how that that might influence rates
5:01
Speaker 1: down the road, because obviously people are starting to try
5:03
Speaker 1: to figure out how to manage things like this, whether
5:06
Speaker 1: it's a bitcoin loan or other strategies around your portfolio
5:10
Speaker 1: out there. I want to play this last clip from
5:11
Speaker 1: Gary Gensler because he goes on about gold and silver
5:15
Speaker 1: now and it's like, which route is the going here?
5:19
Speaker 1: Listn't it?
5:21
Speaker 4: Investors can express themselves in gold and silver through exchange
5:25
Speaker 4: traded funds just slice their eyes for gold and silver.
5:29
Speaker 3: Yeah. Well, mister chairman, I want to ask you about,
5:31
Speaker 3: speaking of plumbing in the markets, what happened at the
5:33
Speaker 3: CME last week? Should the CME be facing additional scrutiny.
5:38
Speaker 4: And Thanksgiving evening, they had an outage the cooling system
5:42
Speaker 4: in this data center, and they had an outage for
5:45
Speaker 4: about ten hours. Markets planned for that. The Chicago Mercantile
5:51
Speaker 4: Exchange considered. They didn't go to their backup data center.
5:55
Speaker 2: They stayed.
5:57
Speaker 4: Partly because it was Thanksgiving. It didn't look for lessons learn.
6:01
Speaker 4: You always look for lessons learn.
6:02
Speaker 3: Well, we've experienced an incredible number of inquiries about this
6:06
Speaker 3: at Bloomberg. Our readers are asking, our viewers and listeners
6:09
Speaker 3: are asking about this. It put a real chill in
6:11
Speaker 3: the markets. To use a terrible pun in this case,
6:15
Speaker 3: mister chairman, you don't sound that worried about this being systemic.
6:20
Speaker 4: What happened here at this specific moment is the calling system,
6:25
Speaker 4: as I understand, how to glitch. So that's an interesting
6:29
Speaker 4: business choice, all right, So.
6:31
Speaker 1: Guess they're trying to tap dance around that point being
6:34
Speaker 1: is that these are the kind of market conditions that
6:37
Speaker 1: crypto alleviates away from with decentralized models and of course
6:41
Speaker 1: Bitcoin being one of the key ones there. When you
6:43
Speaker 1: look at where we are on the FED rate cut potential,
6:46
Speaker 1: which is coming up here next week, the likelihood is
6:50
Speaker 1: that right now, I know, Hasset's even pushing most likely
6:53
Speaker 1: to get a quarter rate point reduction. How will that
6:57
Speaker 1: affect things like bitcoin loans did last at loans in
7:01
Speaker 1: the coming months as we start to see a rate
7:03
Speaker 1: decrease accelerate. What are your thoughts?
7:08
Speaker 2: You know, I think the overnight funding, the FED interest rates,
7:12
Speaker 2: things of that nature that does have impact on capital
7:15
Speaker 2: markets and the folks that we borrow money from. So
7:18
Speaker 2: I think it does. It does trickle in slowly, perhaps
7:22
Speaker 2: over a longer time period. I think what's really leading
7:25
Speaker 2: to improved rates within bitcoin back lending is really just
7:29
Speaker 2: the additional number of players that want to get involved
7:32
Speaker 2: in the competition for that business, and a lot of
7:35
Speaker 2: that means hey offering lower rates and figuring out more
7:38
Speaker 2: strategic ways to secure financing so that you can be
7:41
Speaker 2: more competitive when you want to put you want to
7:43
Speaker 2: put your capital to work through a partner like Salt lending.
7:47
Speaker 1: Yeah, do you find that that is the case right now?
7:50
Speaker 1: Are you seeing a lot more lender activity of people
7:54
Speaker 1: coming to the play for partnerships things of that nature
7:56
Speaker 1: that are really expanding this market? I know when we're
7:59
Speaker 1: watching the at least the credit markets, this is going
8:02
Speaker 1: nowhere but up in terms of digital asset lending.
8:06
Speaker 2: Oh absolutely, I mean the number of people that want
8:09
Speaker 2: to get involved is growing exponentially, right, and that's now
8:13
Speaker 2: even includes even some traditional banking players that have more
8:18
Speaker 2: alternative investment strategies. But at the end of the day,
8:20
Speaker 2: are still banks, right, They're still they still hold a
8:23
Speaker 2: bank charter, they still raise capital from depositors and investors
8:26
Speaker 2: the way a regular bank would. But they're looking at
8:29
Speaker 2: how they could put their money to work through a
8:31
Speaker 2: lending company partner platform like Salt, just based on the
8:36
Speaker 2: way that the mechanics of these loans work. The fact
8:39
Speaker 2: that you know, we've never had a default, We've never
8:41
Speaker 2: we've never failed to return borrow or collateral. So when
8:44
Speaker 2: you really peel back the onion, our business model is
8:47
Speaker 2: a lot more secure than say lending unsecured credit cards
8:51
Speaker 2: or having a rebot and go out and repossess a
8:53
Speaker 2: vehicle or you know, we don't really have any of
8:56
Speaker 2: those risks. And so I think as these financial players
8:59
Speaker 2: are learning more learn more about that, they're going, oh, okay,
9:02
Speaker 2: there's a lot more risk mitigation and technology and things
9:05
Speaker 2: in place that protect our interest when we're backing when
9:08
Speaker 2: our loans are backed by bitcoin as opposed to these
9:11
Speaker 2: other traditional you know again unsecured or even secured loans
9:15
Speaker 2: that are backed by homes or cars or credit cards whatever.
9:18
Speaker 2: It might be.
9:20
Speaker 1: So shane when you look at TVL in general, I
9:23
Speaker 1: think because I think a lot of people would say, Okay,
9:25
Speaker 1: I'm on a loan on my bitcoin, but because of
9:26
Speaker 1: the volatility, I want to back off my exposure. I'll
9:30
Speaker 1: reduce my you know, TVL, or at least my loan
9:33
Speaker 1: to value, I should say, rate down considerably. Are you
9:37
Speaker 1: seeing more loans coming in with loan to value much lower?
9:41
Speaker 1: Or are you seeing loans coming in where people are
9:44
Speaker 1: kind of pressing it.
9:46
Speaker 2: You know right now? It's it's we've really it's really
9:49
Speaker 2: everything across the gamut. And I think that's because a
9:53
Speaker 2: lot there's a lot more people getting involved now because
9:56
Speaker 2: they're they're finally realizing that bitcoin can be a strategy
10:00
Speaker 2: asset and not just a you know, savings account, right,
10:03
Speaker 2: And so we have a lot of people on the
10:05
Speaker 2: lower LTV range who are looking at like a bitcoin
10:08
Speaker 2: powered lifestyle. Right. Maybe they're they're wanting to retire on
10:12
Speaker 2: their bitcoint they're wanting to augment their income or things
10:16
Speaker 2: of that nature. So they're taking a more conservative approach,
10:18
Speaker 2: and we have others that are looking to find that balance, Right,
10:22
Speaker 2: I want to maximize the liquidity value of my asset,
10:25
Speaker 2: but I don't want to take too much risk. So
10:26
Speaker 2: maybe they're at like a fifty percent LTV And those
10:29
Speaker 2: are the folks that are you know, reinvesting. They're outlying
10:32
Speaker 2: stocks or equities, they're outlining other businesses, they're developing real estate,
10:38
Speaker 2: things of that nature. And so again it really is
10:41
Speaker 2: a good mix of people all across the LTV spectrum
10:43
Speaker 2: because just the growth and the popularity of bitcoin as
10:47
Speaker 2: an asset and what it can do for people.
10:50
Speaker 1: With Okay, so there's a lot of strategies that are
10:52
Speaker 1: working into how people are setting up for twenty twenty six. Granted,
10:57
Speaker 1: one of them, of course, we're starting to see is
10:59
Speaker 1: how and see possibly some tax benefits coming to US
11:03
Speaker 1: next year. Japan is now moving to impose a flat
11:07
Speaker 1: twenty percent tax on crypto and this is matching their
11:11
Speaker 1: stock market rate. So my question, do you think we're
11:14
Speaker 1: going to see that in twenty twenty six out of
11:16
Speaker 1: this administration where they're trying to keep pace with things
11:20
Speaker 1: like what Japan has done, especially around crypto. I was
11:23
Speaker 1: talking to Ron Hammond not too long ago and he
11:27
Speaker 1: mentioned on it his tax legislation will be a big
11:29
Speaker 1: factor for twenty six.
11:30
Speaker 2: What do you think, Yeah, I mean, I think a
11:35
Speaker 2: lot of the supportive legislation from the current administration has
11:40
Speaker 2: really boosted the market. So hopefully we see that continue
11:43
Speaker 2: in twenty twenty six and beyond. From a lending perspective, right,
11:47
Speaker 2: I mean, we don't give tax advice, but there's certainly
11:49
Speaker 2: are tax benefits to borrowing against your digital assets instead
11:53
Speaker 2: of you know, selling and incurring capital gains and perhaps
11:57
Speaker 2: having to deal with some of these other tax implications
12:00
Speaker 2: that continue to surface. So that's really one of the
12:02
Speaker 2: big reasons that people like to use their assets to
12:05
Speaker 2: borrow them against them and not sell them, not have
12:08
Speaker 2: to pay capital gains and deal with those things. And
12:11
Speaker 2: that's you know, that's also why we're seeing a lot
12:13
Speaker 2: more of these by borrow die and you know, never
12:16
Speaker 2: sell your point retire on your bitcoin types of strategies
12:20
Speaker 2: because that, you know, never selling and not having to
12:23
Speaker 2: pay the tax man is really one of the underlying
12:26
Speaker 2: principles to a lot of these strategies that we've seeing.
12:29
Speaker 1: Do you think that we are in a new cycle
12:32
Speaker 1: where the new investors coming into bitcoin and digital assets
12:37
Speaker 1: in general are going to really start understanding this model
12:41
Speaker 1: going forward? It's been used in the real estate market forever.
12:44
Speaker 1: Do you think that's going to translate well to what
12:46
Speaker 1: we're seeing now with a lot of these new investors,
12:48
Speaker 1: because we're talking about people maybe under the age of
12:50
Speaker 1: forty that might not be necessarily aware of all of
12:53
Speaker 1: this strategy. What do you seeing.
12:56
Speaker 2: Absolutely? And I think too, what's going to be a
12:59
Speaker 2: bit unlocked for people is you know, for the past
13:03
Speaker 2: basically since the inception of bitcoin back lending, at least
13:06
Speaker 2: from centralized finance companies like ours who are regulated and
13:10
Speaker 2: compliant with US law, et cetera, a lot of the
13:14
Speaker 2: loan terms and the rates and structures have been somewhat rigid.
13:18
Speaker 2: But you know, what we've been focusing on is how
13:20
Speaker 2: do how do we open up those doors and make
13:22
Speaker 2: it more flexible for people, And that's why we've rolled
13:25
Speaker 2: out you know, three and five year loan terms. We
13:28
Speaker 2: have three different financing options. We've got different LTV tiers
13:32
Speaker 2: and rate structures, and you know, you can do things
13:35
Speaker 2: like salt shield for downside protection. So what used to
13:38
Speaker 2: be a kind of rigid, one size fits all approach,
13:41
Speaker 2: you know, we're really challenging that and innovating that and
13:44
Speaker 2: giving people a lot more options to choose from so
13:46
Speaker 2: that they don't have to fit themselves and their goals
13:49
Speaker 2: and their strategy into a rigid set of terms. They
13:52
Speaker 2: can work with us and we can try to tailor
13:54
Speaker 2: the right set of terms, rate structures, duration financing, et
13:57
Speaker 2: cetera exactly around what they're trying to do.
14:00
Speaker 1: So, when you talk about those kinds of new terms
14:05
Speaker 1: instruments in general, is there any one area that you
14:09
Speaker 1: are finding more people kind of migrating to longer term
14:13
Speaker 1: maybe a different kind of approach in terms of the
14:15
Speaker 1: strategy that they're using for bitcoin lending and other digital assets.
14:19
Speaker 1: What are you guys seeing in that in that place?
14:23
Speaker 2: Yeah, definitely, I mean the convenient financing I would say
14:27
Speaker 2: is the biggest, because a lot of people get hung
14:29
Speaker 2: up on this idea of well, if I take out
14:31
Speaker 2: a loan at nine ten percent, how am I going
14:33
Speaker 2: to pay the interest? Right? We've got some financing models
14:37
Speaker 2: to where you don't have to have a monthly payment
14:40
Speaker 2: and you don't have to pay a fee to have
14:41
Speaker 2: that financing option. So that's that sort of convenience unlocked
14:45
Speaker 2: number one. Number two would be, yeah, the longer durations, right,
14:49
Speaker 2: being able to take out a loan and figure out
14:51
Speaker 2: the strategy over a three or perhaps five year period,
14:55
Speaker 2: and that unlocks a lot of a lot of value
14:57
Speaker 2: for people that are wanting to reinvest dollars and might
15:00
Speaker 2: have a two or three year ROI timeline on whatever
15:03
Speaker 2: it is that they're investing in. Now we can accommodate
15:07
Speaker 2: that with a longer duration loan structure.
15:10
Speaker 1: Do you think with the rate cuts on the horizon
15:14
Speaker 1: that a lot of investors are maybe looking at trying
15:18
Speaker 1: to set up to take advantage of some of these
15:20
Speaker 1: early market moves, because now you know, as we're recording
15:23
Speaker 1: bitcoin again under ninety k, ethereum possibly going to dip
15:27
Speaker 1: under under three k again, there could be some more
15:31
Speaker 1: dips here to be purchased, and this is the perfect
15:33
Speaker 1: time to try to get exposure to that, is that
15:36
Speaker 1: one of the things that you find people utilizing these
15:39
Speaker 1: loans for is to re enter the market at lower prices.
15:45
Speaker 2: Yeah, I mean, I think there is certainly an element
15:47
Speaker 2: to that. I mean I do work with a lot
15:49
Speaker 2: of high net worth individuals, a couple family offices even
15:53
Speaker 2: whose thesis is really built around bitcoin and wanting to
15:56
Speaker 2: purchase additional bitcoin and continue investing in bitcoin, and a
16:00
Speaker 2: big part of that hinges on you know, getting in
16:03
Speaker 2: at the right time. I also think though too, like
16:07
Speaker 2: just our standard like stabilization feature as an example, you know,
16:11
Speaker 2: that helps people even if you do get stabilized. You know,
16:14
Speaker 2: we've had people in the last couple of weeks. People
16:17
Speaker 2: got stabilized in the nineties and we're able to re
16:19
Speaker 2: enter in the eighties. Right, So we take those things
16:23
Speaker 2: into consideration as well as how do we help people
16:25
Speaker 2: protect their position, how do we help people maximize their
16:28
Speaker 2: bitcoin or their ethereum, et cetera. And yeah, I mean
16:32
Speaker 2: we do see a lot of interest in that, again,
16:34
Speaker 2: just people wanting to stack and buy the dip. That's
16:36
Speaker 2: also how we've tailored our you know, stabilization feature as
16:40
Speaker 2: well to help people protect their position and ultimately re
16:43
Speaker 2: enter at a lower price if that's what they want
16:45
Speaker 2: to do.
16:47
Speaker 1: So Shane on the one, three and five year option,
16:50
Speaker 1: do you have to select that in the front of
16:52
Speaker 1: the loan right now? Is that how it works? What's
16:54
Speaker 1: the model?
16:56
Speaker 2: Yeah, So we do have that now available in the
16:59
Speaker 2: loan platform. So as you're going through and tinkering with
17:02
Speaker 2: the loan calculator, you'll key in your what state you're in,
17:06
Speaker 2: you'll key in how much money you want to borrow,
17:08
Speaker 2: you'll key in your LTV, you'll select your financing option,
17:11
Speaker 2: and then you'll also have a drop down for the
17:14
Speaker 2: loan duration. So one, okay, I see and that's out stick. Yeah.
17:20
Speaker 1: Can I move it around in the middle of the
17:21
Speaker 1: loan or do you have to kind of lock in
17:23
Speaker 1: on that?
17:25
Speaker 2: So, based on user feedback, we have made it really
17:29
Speaker 2: really simple to refinance you loan at any point in time,
17:33
Speaker 2: so if the market changes or your situation changes, you
17:36
Speaker 2: can refinance. There's no early termination penalty or anything like that.
17:40
Speaker 2: So it's very flexible, very refinance.
17:43
Speaker 1: I like it. I like it. What is your I
17:45
Speaker 1: want to get a couple of predictions for you or
17:48
Speaker 1: from you for twenty twenty six. If you look at
17:51
Speaker 1: the FED for December and January, do you think we're
17:54
Speaker 1: going to get rate cuts on both months? Do you
17:55
Speaker 1: think we're going to kind of go fifty to fifty here?
17:57
Speaker 1: What's your thought?
18:00
Speaker 2: I would think at minimum fifty to fifty. I mean,
18:02
Speaker 2: you know, without without the data, right, it's kind of
18:07
Speaker 2: hard to know what which way they're leaning. I think
18:09
Speaker 2: we'll learn a lot more next week. But I think,
18:12
Speaker 2: you know, if their goal is to you know, bolster
18:16
Speaker 2: the employment situation and try to try to get more
18:18
Speaker 2: people to work and get more businesses to hire and
18:22
Speaker 2: and kind of you know, fight that side of their
18:23
Speaker 2: dual mandate, I really don't understand the point of holding
18:28
Speaker 2: rate steady or raising or anything else other than you know,
18:31
Speaker 2: reducing the cost of capital and encouraging more businesses to
18:34
Speaker 2: borrow and higher and you know, put people to work.
18:37
Speaker 1: Yeah, yeah, well that's going to be I think the
18:39
Speaker 1: argument that everybody's going to have Clarity Act could be
18:42
Speaker 1: on the uh maybe on the wing of being able
18:46
Speaker 1: to get approved that's coming now likely at least on
18:50
Speaker 1: in terms of the markups possibly early January. You think
18:53
Speaker 1: we get this in the first quarter of next year.
18:57
Speaker 2: I hope so, you know, I haven't read through all
19:00
Speaker 2: of the text, but I do like a lot of
19:01
Speaker 2: the things that they've called out in there. I think
19:03
Speaker 2: it both protects borrowers further and it also helps a
19:07
Speaker 2: lot more companies kind of understand how to operate, how
19:10
Speaker 2: to build their own you know, digital asset management and
19:13
Speaker 2: risk mitigation strategy. So I think it's a win win
19:16
Speaker 2: for everybody that's involved. So my fingers are crossed and
19:19
Speaker 2: it gets done sooner than later.
19:21
Speaker 1: That's what we're hoping for. Hey, listen, Shane Crockett's been
19:23
Speaker 1: great having you on. Thanks so much. If you guys
19:25
Speaker 1: want to learn a little bit more about salt, make
19:26
Speaker 1: sure and jump over to Salt Lending dot com. You
19:28
Speaker 1: can see their website. Will leave a link down below.
19:31
Speaker 1: But thanks for coming in today. We appreciate it. Thanks Paul,
19:35
Speaker 1: you bet are you guys know what to do. If
19:37
Speaker 1: you're not part of the Baron market Edge, you should be.
19:39
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19:42
Speaker 1: additional research insights. I drop some emails and give you
19:45
Speaker 1: insights on where I think the market is going, both
19:48
Speaker 1: on global macro down to the tools that we use
19:51
Speaker 1: with trying to analyze the market. Also hit me out
19:54
Speaker 1: there on X at Paul Baron. We'll catch you next
19:56
Speaker 1: time right here on the Paul Baron Show. Mott