Latest / The Paul Barron Crypto Show / Robinhood Acquires Crypto Exchange! MiCA Stablecoin Countdown

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Robinhood Acquires Crypto Exchange! MiCA Stablecoin Countdown · The Paul Barron Crypto Show

0:08
All right, so welcome into the live stream today. We're going to be
0:10
breaking into a lot of what's happening with Robinhood, their recent acquisition. We'll
0:14
take a look at some of the bitcoin news. There's also a big drop
0:18
on what's happening withing. There's a lot royin Kitty, a lot happening in
0:22
the market. We'll break it all down for you guys today. My name
0:24
is Smolbert. Welcome back in the tech path. Okay, let's start over
0:28
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Use our link gives you a little bit of a discount, all right,
1:10
So I'm gonna get into a couple of points here of what's happening.
1:12
Obviously, the S and P is moving pretty briskly. Here. We've got
1:17
the S and P five hundred now officially making its twenty sixth all time high
1:21
of twenty twenty four index now also just posted its second best five month streak
1:26
in twenty four years. So everybody's wondering, is this the end of the
1:30
bull run? Is this where the market starts to regress. We're going to
1:34
see job numbers coming in. Possibly we could see some other things happening in
1:38
the macro markets around rate cuts. I'll talk more about that. You also
1:42
have in Nvidia, of course, topping Apple for just a short period of
1:48
time as the world's second most valuable company. They had slipped in right underneath
1:53
Microsoft, but of course that has been repositioned today. So but what may
1:59
may not be long before we start to see this as a full time scenario
2:01
where Nvidia starts to really play out a couple of tweets right here. This
2:06
one is a big one. The first rate cut we have seen by a
2:09
central bank coming in from the ECB. They cut their interest rate by a
2:14
quarter basis points, so you've got a point two five percentage point, I
2:16
should say, coming in. And this is intriguing to me because when you
2:23
look at the EU and where they are from an economic standpoint, to see
2:30
this type of monetary control start to be pushed into the EU right now,
2:37
it's very interesting because I don't know that we're going to see that here in
2:39
the US, even though there is a lot of analysts, are a lot
2:43
of analysts that are still pushing for two rate cuts this year. I think
2:46
it's probably going to be nearing maybe one again. I think jobs numbers will
2:51
probably dictate to Chair Pal quite a bit, because obviously we can't have major
2:55
inflation and losing jobs at the same time. So we'll see if this is
3:00
an indicator for the EU that could lead the West into moving a little bit
3:04
faster on rate cuts. This was a tweet by corn Bureau. It says
3:07
one point three billion in inflows to spot bitcoin ETFs in the past two days.
3:13
I don't know what to say about this. I think this is just
3:15
the beginning. We've seen analyst after analysts look at this chart in terms of
3:21
inflows and say, this is really just the people who are early adopters wait
3:24
for the really big crowd starting to jump in, and that means real money.
3:30
That's where we get into that whole theory of a wall of money and
3:35
liquidity coming into the market still as a potential for bitcoin ETFs, and of
3:38
course obviously that will push bitcoin and the rest of the market into place.
3:44
Here's what cha guru says, saying the Standard and Standard Charter Bank says bitcoin
3:47
will reach one hundred and fifty k if Donald Trump wins the presidential election.
3:53
I'd love to know you guys' thoughts on this. Drop some comments down below,
3:55
make sure and drop in some questions over on the side, and we'll
4:00
try to get to those as well. I'm looking to see if you guys
4:01
are in the queue here and looks like you are. Yeah, good.
4:05
I'll make sure and get some of those questions toward the end. One thing,
4:10
too, is we have our political tracker that we're tracking basically sentiment from
4:14
crypto the crypto advocates of the industry. It's interesting. I'll show you that
4:18
chart toward the endscy where our presidential candidates are faring eth Is. This is
4:25
an interesting when this came in from Matthew Siegel has been on our on our
4:29
show before, and you look at some things right here. They're hitting on
4:32
eth is, an open source app store. We ask Themate east price to
4:35
hit twenty two k by twenty thirty and our updated base case scenario. That's
4:41
the base case scenario, okay, and explore optimal Bitcoin and eight allocations in
4:45
both traditional sixty forty and crypto only portfolios. This simply means that traditional finance
4:50
is starting to look at digital assets as a completely new asset class. It's
4:57
a twelve sector. Many people have talked about it. It's here, and
5:00
we are going to start to see allocations that really start to move into what
5:03
could be a huge move forward in the next maybe the next twelve months,
5:09
as we start to see this market heat up and continue its bull run.
5:13
Let me know if you think this is still a bull run now. I
5:15
want to go over to a clip because this is getting into a little bit
5:19
more about what coinbase is doing. Because this also opens up the base side
5:25
of things. We did a couple of Base videos out here, but check
5:28
this clip out. We expect Base and other chains to transform the world in
5:31
twenty twenties and bring about the new on chain era. And the way that
5:35
happens is by making it faster and cheaper and easier for everyone to build new
5:40
things. And when people build those new things, we're going to see an
5:44
incredible wave of new applications that users are going to use and that they're going
5:46
to pay for. And Base is the application platform kind of like AWS that
5:51
enables that. So as more applications are built, Base is going to generate
5:56
more revenue, and as more applications are built, Coinbase is going to be
5:59
the front door that lets users access those applications. All right, So Coinbase
6:05
eth the narratives are starting to paint out. These are the new app stores
6:10
of the future if you look at the type of things that are happening.
6:14
We're going to be doing another show today that will drop a little later in
6:17
the night that it's going to be talking about a lot of new innovations in
6:20
terms of tech that are going to displace a lot of traditional what we know
6:26
as web two not gaming, but user apps and you probably know what I'm
6:30
talking about, but there's a bunch of projects out there, i should say,
6:33
companies out there that are really kind of going in that direction in the
6:38
sense of they don't necessarily have the capacity of being able to leap forward in
6:42
this new Web three community. And that's kind of what Jesse Pollock was saying
6:45
right there from Coinbase is this opens up a whole new layer of how companies
6:49
and users are going to communicate and engage with each other, just like what
6:55
we're seeing right now on the open stock market and in Wall Street for instance.
7:00
Right here, just in game Stop up thirty three percent after Raring Kitty
7:03
scheduled a live stream for tomorrow. We'll be airing them, I'm sure of
7:09
it. Hopefully it's going to be during our time here in the studio.
7:12
That'll be a big deal because this again gets back to the whole point of
7:15
traditional finance, of traditional technology shifting. So fast forward to the next layer.
7:20
I think we're at the route of where the markets are really going to
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start to understand what's happening now. Part of this goes into a scenario around
7:30
this right here, and that is Robin Hood understanding that the writing is on
7:35
the wall. There's a lot of opportunity here. So what do they do.
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They go out and spend two hundred million to acquire bitstamp. Now you
7:42
think why would they go that direction? A couple of points within the article
7:46
that'll kind of explain this. The exchange has a strong presence in Europe and
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Asia. Okay, eighty five tradable assets, features such as staking and lending
7:57
both very key, and then of course fifty active licenses and registrations worldwide.
8:03
That's huge because what this does is it puts Robinhood at the front of the
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line in a lot of these regions that will require those licenses. Now they
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own them. And also it generates an immediate impact potentially on everything from staking
8:18
and lending within the guidelines of what MIKA has already put into place. Guess
8:24
where Robinhood is starting to really put pressure on the UK, the EU all
8:28
throughout Mika's regulation authority. So a lot happening in that direction right here.
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And of course we have a clip here from Vlad that will go into a
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little bit about the acquisition. Listen what I had to say, Yeah,
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it's really three things that got us excited. One is This is an international
8:46
business and it accelerates our plans for international expansion, particularly in crypto. Second,
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it brings an exchange to Robinhood, and we've been thinking for a long
8:56
time that the world could use a Robinhood extreme. We have a lot of
9:01
ideas about how we can improve upon that, and as we talk to our
9:05
market makers, we see there's a clear need for another player in the market.
9:11
And then the third institutional business. This allows Robinhood to enter a new
9:16
business serving market makers and other institutional customers. All right, So there's a
9:22
lot happening here. There are so many moving parts and chess pieces being played
9:26
right now within the Financial Services Committee because the reason is we're starting to see
9:31
a shift in the power grabs that are occurring. You've already seen it with
9:35
Blackrock kind of controlling what they're doing on the side of what's happening in the
9:39
ETFs. Obviously black Rock Citadel also aligning themselves for a possibly new stock exchange
9:45
for digital assets and tokenized real world assets, all of that. Then you
9:48
had that hearing that we did a video on go back and check that out
9:52
yesterday. It was a video that really got into the clarification of what was
9:58
happening in today's stock markets. And one of the questions that came up in
10:01
that hearing with the DTCC was would blockchain have resolved the problem with what was
10:07
going on with Rowing Kitty and GameStop. The answer was yes, it would
10:11
have solved that problem. So this gets back into the whole point that we're
10:16
talking about, which is the financial systems that have been in place for quite
10:20
some time are starting to understand that there really is an undercurrent here, not
10:26
only from the demand of what's happening out there and the users you me,
10:30
people that are buying robin Hood stock and also trading on the robin Hood apps,
10:35
but also happening within all these new exchanges, these new DAPs, all
10:39
of this is really starting to shift in a big way. So here's what
10:41
Vlad had to say about who this will serve, and he talked a little
10:46
bit about staking as well. Listening this will serve though foreign customers, if
10:54
you will, meeting American customers will not be able to necessarily use some of
10:56
these services. Right. Well, again, I think it gets a little
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tricky with the institutional business. A lot of these customers are based globally and
11:05
have offices around the world. We haven't yet gotten to the point where we're
11:09
going to discuss the details of exactly how the integration is going to go,
11:15
but we do anticipate at serving global customers. The reason I ask is there's
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a staking business, and as you know, staking right now is a hot
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topic in Washington Point bases in the middle of a bit of a brew haha,
11:26
it might be a polite word for it. So I'm just thinking,
11:28
I'm just trying to understand how you're thinking of keeping the business to the extent
11:33
that any of these businesses have to be separated for now. Yeah, I
11:35
mean we've already had to go down that road. So we launched Solana Steaking
11:41
for customers in the EU, but given the regulatory environment here, we've been
11:48
unable to launch that product for customers in the US. There are differences in
11:54
asset listings between the EU and US, so I mean we were going to
12:01
have to continue doing that as we expand the business. I'm kind of curious,
12:05
you know, what Sorkin was getting at, because I mean, these
12:07
businesses operate internationally. I mean, the world is bigger than just the United
12:13
States. I think the pressure is now on the US to really get things
12:16
in line, and that's why we're probably going to see a stable coin bill
12:20
coming pretty quickly. But remember Robin Hood got a Wells notice this is one
12:24
of the many that it's been sent to a lot of players. They were
12:26
a little bit different though. Remember they were a exchange and also a brokerage,
12:31
so you have the ability to kind of get both. They were a
12:35
little bit different. But I think they are seeing the writing on the wall
12:37
in terms of digital assets, which is probably the reason. One of the
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core reasons, well, he kind of said to it is getting access to
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this new market market makers for sure. But interesting point right here, a
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new stay of acquisition on BIS stamps seems to move the firm decidedly into the
12:54
crypto camp. That to me is clearly making a huge statement for from Robin
13:00
Hood from what flat ten Ive is talking about, and he understands that MIKA
13:05
is just the beginning. The US is going to be coming for sure.
13:09
All right, if you guys like these kind of breakdowns, make sure and
13:11
hit the like button right now. Just take a little time smash out of
13:15
like button. If you're brand new to crypto, maybe your brand new to
13:16
digital assets and you're thinking, how does all this stuff work? Well,
13:20
the number one thing you're going to do is subscribe to the channel. You're
13:22
going to get notifications if you hit that little bell when we do these live
13:26
streams just like this. Well, maybe answer some questions that you might have
13:30
over on the side, So just let me know, drop them in over
13:31
there. Let's keep going. A couple other points I want to hit on
13:35
right here, of course, within the app. This is on the bitstamp
13:39
app. I want to zoom in on this right here. So some of
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the things that they have within this. You'll notice they've got all sorts of
13:46
additional services in here. DeFi stable coins. Remember they have a whole list
13:50
of stable coins. This is a good example. Here's some fees. I'll
13:54
show you their stable coins here in a second, but here's some fees comparison
13:58
of what they're doing on their standard Maker fee right now at point three.
14:01
Let me see if I can zoom in on that for you guys. There
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you go standard Maker fees at right around that. This is right now here
14:07
in May so very interesting. This goes into oh yeah, that's right,
14:13
I forgot completely. Robinhood had an acquisition of the x one card, which
14:18
was a credit card system. So what this tells me is that Robinhood is
14:22
preparing for a lot of financial services. They're putting together a whole streamline of
14:28
different kinds of services to be able to deal with this next generation financial market.
14:33
So all of that points in the right directions. I think this is
14:37
just a matter of time. Will Robinhood start to compete very directly with coinbase
14:43
If you look at Coinbas's rates look right here, and Coinbase is a partner
14:48
of the show right now, they're take a fee sixty basis points, make
14:50
a fee forty basis points, so you can kind of see the difference here.
14:54
They're going to need to get competitive to be able to keep choice.
14:56
Now, granted this is happening here in the US versus what we'll probably see
15:01
in the EU for what's going on with robin Hood. Other news right here,
15:05
this of course, was a story coming in from the block. Ripples
15:09
president explained why the company acquired a stake in crypto Chang's bitstamp. This was
15:13
all the way back in May of twenty twenty three when this was occurring,
15:18
So pretty intriguing that this has been going along. Strong balance sheep. We're
15:22
actively looking for opportunities to continue expanding businesses outside the US and payments we see
15:28
to solidify our global leadership position. So they already have a relationship working with
15:31
them with bitstamp, and now with robin Hood. Guess what you have something
15:37
happening this summer and that is most likely an XRP stable coin. So this
15:43
could line up to those very interesting scenarios. Here's examples of what we will
15:48
see. Bitstamp has the following stable coins already issued on the XRP ledger,
15:54
USD, the Euro, the Japanese y, in Australian dollar, et cetera.
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And you can kind of see some of the things right here. Let
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me kind of showcase this right here. Notice that within this you've got all
16:11
sorts of well that's the thing right now, is you've got all of this.
16:15
Here's an example of the their Gaman verified right there, the KYC for
16:19
the wallet for XRP. This could get intriguing with what's happening with Robinhood,
16:26
Bitstamp, XRP ripple and stable coins in the EU. Very intriguing stuff.
16:34
Don't forget, guys. Stable cooin bill may pass before the election and this
16:40
is coming in from JP Morgan, and I think this there's a reason for
16:44
this strategy being implemented so quickly in Capitol Hill because they're starting to see the
16:49
movements that are happening within the EU and a lot of companies now starting to
16:55
make these chess moves out there to get new acquisition of customers, and unfortunately
17:00
here in the US, it's leaving those investors out of the game, and
17:03
the US does not like to see that, considering they consider themselves the financial
17:08
center of the world. Stand with Crypto also reached one million advocates. This
17:14
only tells us that we are going to continue to see a lot of movement
17:18
in the voting block of crypto. Remember, there's fifty million users here in
17:22
the United States of crypto. Of that we've seen significant multi millions right now
17:29
tracking at about almost twenty million that are going to be voting pro crypto.
17:34
So this these kinds of numbers are pretty impressive. These are the kind of
17:38
numbers that will shift elections in a big way. Just if you guys want
17:44
to check out our own crypto tracker, just go over to our website and
17:47
you'll notice right on the front page we do the same kind of thing that
17:49
we do with our market centiment endex But we look at sentiment based on a
17:55
set of standards and credentials for each of the candidates. Right now, you've
17:59
got Trump of course leading the way, and but Biden's starting to gain a
18:02
little bit of ground here up over these last three reporting days significantly. In
18:07
fact, this is the highest Biden has been in the last forty five days.
18:12
So very interesting if President Biden is starting to gain a little bit of
18:18
the crypto audience. Let me know in the comments. Always love to kind
18:21
of get your guys feedback. All right, let's go over to what else
18:23
do we have. Do we have a poll today? I think we do.
18:26
Yeah, let's take a look at the Paul real quick. All right,
18:29
if Robinhood has a better fee trade fees and on every coin, would
18:33
you ditch coinbase six percent says yes. Huh So it's all on fees,
18:40
guys. That's pretty much the situation right there, is that you're looking for
18:44
the best fees. Well, right now, it's about even in terms of
18:48
trade, and I think if you kind of compare maybe the two, let
18:52
me know what you find out on your own trades. If you're in Robinhood
18:55
and coinbase, where are you finding the best deal. We'll try to get
18:57
some questions right there. I want to take a look at quickly in the
19:02
market. Bitcoin holding at right at seventy thousand, almost seventy one, and
19:07
it had slipped down slightly on the day, even though it's still in our
19:10
sentiment zone holding ethough is starting to have a little bit of a red day.
19:15
This has been something we had talked about earlier in our Mastermind group.
19:19
We do a little video group in there that we were talking about E flatlining
19:25
slightly. So this will be interesting to see if ETH continues to move a
19:29
little bit sideways here Solana after a nice couple of days, starting to reposition
19:34
down back at around one seventy. Take let's take a look at some questions
19:41
and let's see what's going on over here. Stand with crypto. Got me
19:44
to call my congressman. Good powerful lobby. Yeah, one of the most
19:48
powerful lobbies out there, and that is the crypto lobby for sure. Robin
19:52
Hood better and I messed with bitsnab it's a de facto bitcoin exchange. That's
19:56
true. Good point. Yeah, Yeah, we'll get on that. Let
20:00
me pull up if I can pull in some of the stocks here and I
20:04
think I have it. Gimmy, let me pull up one of those the
20:08
guys are wanting to pull in. Gmmy, just real quick to see what's
20:11
happening on games Stop with their Let's take a look at that real quick,
20:18
and what's going on with game Stop? Quickly down in there. I didn't
20:23
have it in here, so I'll pull it up real quick for you guys.
20:27
All right, So there's the movement right that's the daily right now.
20:30
Game Stop starting to move up a little bit right here, obviously a big
20:36
move up to almost forty bucks down from from where did it come out?
20:38
Was it? What? Twenty six bucks for the day for this yesterday?
20:42
Not bad? Robin Hood showed their true colors in twenty one disabling the buy
20:47
button because their investors were more important. Listen, I think that is It's
20:52
an issue that everybody still remembers and still understands, and there was no know
21:00
reel out on that. I think Robinhood has a lot of work to do,
21:03
especially with the ogs. But where Robinhood is going to win is in
21:07
all of those millions of users that weren't trading in twenty twenty one. That's
21:12
where they're going to win. And if they keep it clean and they you
21:15
know, are able to do it. Remember, we've had GameStop trading halted
21:19
this week. We've had all sorts of shenanigans within traditional markets, so it's
21:23
not out of the situation. That's why guys, you're in blockchain, you
21:29
can go into your own liquidity, get into DeFi understand how to use these
21:32
wallets. That makes a big difference. Greg says two hundred million for I
21:37
agreed. I thought that was a little bit of a low price, but
21:41
not a bad deal. Maybe there was some back end things for the Bitstein
21:45
founders. I already used robin hood to bribe crypto cheaper than on coinbase.
21:48
I use coinbase as well, but when I DCA, it's on robinhood.
21:52
Good move there. Janis Ruined Kitty live stream tomorrow. GameStop to the Moon
21:56
will probably see some crazy numbers. Would you guys like us to live stream
22:00
that just talk kind of see a little bit where them. I'm kind of
22:03
curious how the crypto markets will respond in relationship to that as well. Coin
22:10
Base advance advance is pretty good twenty five k ach deposit. Yeah, that's
22:17
not bad per day. There are the problems that I've always seen with Robinhood,
22:21
and I've heard this from many people that I talk with and you know,
22:23
kind of our colleagues of mine, and the robin Hood movement issue of
22:29
five k a day is still an issue. That's a problem. And what
22:33
I mean by that is, if you're trying to get any token out of
22:36
Robinhood or a bitcoin each, whatever it might be, you're not moving out
22:40
more than five thousand a day. And that's that's an issue that I don't
22:42
necessarily like, don't forget to mention base NG Okay, base ng Listen.
22:52
We love Base and a lot of the tokens that are happening right now in
22:55
a Chaine summer, there's some big movements. We've seen Bratt go crazy,
22:59
Basing's been doing fairly well here recently, and there's a handful of other I
23:03
mean, mochi, what else is out out there that we're buying? But
23:07
a chain summer are going to be doing some pretty cool stuff. What else
23:10
do we add? How many? How many times coinbase go down? Listen
23:12
to coin base has been down many times. Yes, you are correct,
23:15
Robinhood been down many times, all right, Hopefully URH will be able to
23:21
offer up more projects with this news. We'll see if robin Hood does.
23:25
I think the key here with robin Hood is they've got to get Solana relisted.
23:30
They got to get XRP relisted. Those are the ones that I think
23:33
and remember those markets were in flux when they delisted those, meaning there were
23:40
some gains to be made, and if you were holding there, you kind
23:42
of got, you know, sideswiped a little bit. So anyway, lots
23:47
of stuff out there. Make sure, as I said, smash the like
23:49
button. We'd love to get you guys in here on the live streams.
23:52
If you're not in our Diamond circle, get in right now. I'm just
23:56
going to tell you one thing. We have something coming this summer you want
24:00
to be part of. Get in on the Diamond Circle. That's all I'm
24:03
gonna say. Follow me on x It's at Paul Baron. We'll catch you
24:06
next time right here on Techpath