Latest / The Paul Barron Crypto Show / War Hits Banks Triggering Crypto Escape🔥CLARITY Act Odds🚨Ron Hammond INTERVIEW

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War Hits Banks Triggering Crypto Escape🔥CLARITY Act Odds🚨Ron Hammond INTERVIEW · The Paul Barron Crypto Show

0:00
Speaker 1: We are in the middle of two wars out there
0:02
Speaker 1: right now. We're fighting Clarity. We're also in the middle
0:04
Speaker 1: of an Iranian conflict. All of this is going to
0:08
Speaker 1: play into today's episode. Before we get started, do want
0:10
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0:39
Speaker 1: I'm going to have Ron Hamma joining us here at
0:41
Speaker 1: a minute, but before we do that, I want to
0:44
Speaker 1: kind of just showcase a couple of things that are happening,
0:47
Speaker 1: and you guys will have to excuse my voice on
0:48
Speaker 1: bit a little under the weather, but hopefully coming back here.
0:52
Speaker 1: But we are seeing more targeting of economic and banking
0:56
Speaker 1: interest in the regions during the Iranian conflict, and this
1:00
Speaker 1: of course is getting into a major issue with some
1:03
Speaker 1: of the GCC states and countries right now and what
1:08
Speaker 1: this is going to do with the rest of the markets,
1:09
Speaker 1: because this is also having now an impact on data centers, banking, finance,
1:14
Speaker 1: economic conditions that are even beyond that of crypto. And
1:18
Speaker 1: even though we are seeing a lot of activity coming
1:20
Speaker 1: from crypto, I want to go to a clip that
1:22
Speaker 1: kind of explains a little bit more about this. Take
1:24
Speaker 1: a look.
1:25
Speaker 2: Foreign Minister of Iran said that the country's oldest bank
1:30
Speaker 2: was bombed. He also is promising payback of some kind.
1:33
Speaker 3: The Iranians say there was an air strike there that
1:35
Speaker 3: killed some people that were counting late into the night.
1:38
Speaker 3: In retaliation, they want to target financial institutions and banks,
1:41
Speaker 3: and that's what problematics.
1:42
Speaker 2: Iran had already identified these firms as potential targets.
1:46
Speaker 4: And we advise people to stay at least one kilometer
1:49
Speaker 4: away from the banks in the area. City Bank closes
1:52
Speaker 4: branches off the Iran threat. City Bank has come out
1:56
Speaker 4: to say andi course, only one branch is open.
1:58
Speaker 5: On Thursday, HSBS has temporarily closed all branches in Qatar,
2:02
Speaker 5: Standard Chartered has one of its most important regional bases
2:05
Speaker 5: there at Goldman Sachs. Employees across the region are also
2:09
Speaker 5: working from home. Dubai International Financial Center hosted more than
2:12
Speaker 5: two hundred ninety banks, one hundred two hedge funds, nearly
2:15
Speaker 5: five hundred wealth management firms, and two hundred and eighty
2:19
Speaker 5: nine family related entities.
2:21
Speaker 1: I wanted to bring Ron Hammond in to kind of
2:23
Speaker 1: break this down a little bit. Ron, how are you.
2:27
Speaker 6: I'm doing good, Paul.
2:28
Speaker 3: I'm actually coming from something as well, so hopefully he'll
2:30
Speaker 3: see you on this side feeling better as well.
2:32
Speaker 1: Man, it's been bad. This one's really been bad. So listen.
2:35
Speaker 1: I had a lot of things to ask you though,
2:37
Speaker 1: clarity act. I'm looking at the poly market right now.
2:40
Speaker 1: This is the one week and we're still holding right now.
2:45
Speaker 1: I guess it's about sixty percent, but it hasn't been
2:47
Speaker 1: moving much with all the things that are happening right now.
2:52
Speaker 1: What do you feel is the current status and any
2:56
Speaker 1: catalyst that could possibly get this off of that kind
3:00
Speaker 1: of deadline right there?
3:01
Speaker 3: Around sixty percent definitely, So I would say the poly
3:05
Speaker 3: market is still at least compared to a lot of
3:06
Speaker 3: the tourses that I'm talking to within DC as well
3:08
Speaker 3: as myself personally, I think it's still pretty high at
3:10
Speaker 3: sixty percent. I'm personally around like twenty five thirty percent.
3:14
Speaker 3: No PC, you would say that's actually pretty high. So
3:18
Speaker 3: as we're kind of seeing with the Iran war is
3:19
Speaker 3: a great example of a lot of things are commerces
3:22
Speaker 3: you can plan for ahead time, and floor time is very,
3:24
Speaker 3: very valuable. And so that's why he saw the Genius Acts,
3:26
Speaker 3: for example, last year become one of the first bills
3:29
Speaker 3: go out of the gate because they understood a lot
3:31
Speaker 3: of things in politics can really derail crypto legislation, let
3:34
Speaker 3: alone housing and all the plethora of other bills out there.
3:37
Speaker 3: Kind of this limboat holding pattern right now, and so
3:40
Speaker 3: the idea that you know, really have to move when
3:42
Speaker 3: the iron's hot and try to do it kind of
3:44
Speaker 3: more of the first time of your administration or first year,
3:46
Speaker 3: that's usually the critical time. So if you put things
3:48
Speaker 3: on the back burner, of course, things like in this
3:51
Speaker 3: case war, can you know, delay action, and it can
3:54
Speaker 3: tril down to all these other policy issues because everything
3:57
Speaker 3: becomes under the lens of Iran or Middle East or
4:00
Speaker 3: energy markets as such. And so there's a huge focus
4:03
Speaker 3: on that in DC. Obviously a lot of political capital
4:05
Speaker 3: to use it for your purpose and whatever party you're with.
4:08
Speaker 3: But at the same time, you know, i'd say at
4:10
Speaker 3: least clarity right now is definitely subject to the whole
4:13
Speaker 3: political macrosphere of it just takes up a lot of time.
4:16
Speaker 3: And we'll go this later on, but the housing builds
4:18
Speaker 3: a good example of just how sometimes four time is
4:20
Speaker 3: really precious, and the closer we get to i'd say August,
4:24
Speaker 3: that gets really dangerous because we need the Senate to
4:27
Speaker 3: have at least probably a whole week dedicated to voting
4:29
Speaker 3: on this, but we're not even at that stage yet.
4:30
Speaker 3: We still have to have a committee vote markup, so
4:33
Speaker 3: we're still a couple of steps out. I'm still less
4:35
Speaker 3: than volume market at the current moment. But the last
4:37
Speaker 3: thing I'll say is that you got the right players
4:39
Speaker 3: lined up here, so this can really turn on it
4:42
Speaker 3: on quickly and really move forward fast, especially with the
4:44
Speaker 3: White House involved if they do come to some agreement
4:47
Speaker 3: on some of these sticky issues.
4:48
Speaker 6: But right now it remains to me.
4:50
Speaker 1: Soon obviously, what we're looking at right now is what's
4:53
Speaker 1: going on in Iran. Is this taking any wind out
4:56
Speaker 1: of the sales? You mentioned a little bit about that,
4:58
Speaker 1: But are we actually seeing now where senators and congress
5:02
Speaker 1: people are setting back and saying, listen, we've got bigger
5:05
Speaker 1: fisher right here. We're going to have to slow this
5:07
Speaker 1: down and we can't get through this. Are we seeing
5:09
Speaker 1: any of that kind of comments yet.
5:11
Speaker 3: Not in this way of saying, you know, we got
5:14
Speaker 3: a pousit cryptobill entirely, but more of Hey, we got
5:16
Speaker 3: more pressed, pressing matters in our hands here. Even though
5:19
Speaker 3: Congress has given up a lot of its foreign power
5:21
Speaker 3: authorities here and their war authorities here. Uh, they still
5:24
Speaker 3: want to be right in. They still want to be
5:25
Speaker 3: looked in. They still want to actificate whether they believe
5:28
Speaker 3: it's right or wrong.
5:29
Speaker 6: Uh.
5:29
Speaker 3: And so it does take up time, unfortunately, and that
5:31
Speaker 3: does take away from other priorities, including crypto. I think
5:34
Speaker 3: the more you know unfortunate angle here is that a
5:36
Speaker 3: lot of the detractors of crypto, or maybe some of
5:38
Speaker 3: the folks on the fence of trying to support the
5:40
Speaker 3: market structure bill uh, see this kind of political moment
5:43
Speaker 3: and say, well, this is a good time to have
5:45
Speaker 3: more additional AMIL or KYC provisions added, or hey, we
5:48
Speaker 3: need to actually have more data collection uh on this matter,
5:51
Speaker 3: or maybe we should really you know, shut down more
5:53
Speaker 3: on the self custy side of things. Uh, you know,
5:55
Speaker 3: whatever the kind of angle is. Usually people use global
5:58
Speaker 3: macro geopolitical developments to say this is the reason why
6:02
Speaker 3: we have to clamp down on crypto in such way.
6:04
Speaker 3: So we fought that every time in DC, will continue
6:07
Speaker 3: to fight that to come from both sides of the
6:09
Speaker 3: aisle on these attacks.
6:11
Speaker 6: By the end of the day.
6:12
Speaker 3: Unfortunately, we've always seen the kind of percolate a little
6:14
Speaker 3: bit where some Democrats Center are saying this makes us
6:16
Speaker 3: really think that we should have more email or KYC
6:19
Speaker 3: protections here because of what's going on Iran and the
6:22
Speaker 3: concern that Iran maybe is using crypto in some way,
6:24
Speaker 3: shape or form.
6:25
Speaker 6: We're trying to move bitcoin to other walts.
6:28
Speaker 3: So I would definitely monde the situation because it will
6:30
Speaker 3: have a direct impact on how the Democrats, especially line
6:33
Speaker 3: up on clarity when the time comes.
6:36
Speaker 1: Yeah, I think this also has opened up the idea
6:39
Speaker 1: of self custody and do it with commodities out there
6:42
Speaker 1: right now that are somewhat regulated them. If you look
6:44
Speaker 1: at Bitcoin and ethereum, stable coins of course are going
6:48
Speaker 1: to be huge. All of that plays into this right now.
6:51
Speaker 1: Are any of the lawmakers seeing that as a positive
6:55
Speaker 1: and that this is another reason we should be doing this.
7:00
Speaker 3: Yes, definitely, anytime we see these developments, haven't. We've seen
7:02
Speaker 3: kind of more of the pro cryptocamp you could say,
7:04
Speaker 3: a lot of the more i'll call the more old
7:07
Speaker 3: school centers say that they, hey, this is a good
7:08
Speaker 3: argument for dollar dominance here, especiallyhen we're talking about more
7:10
Speaker 3: stable coins versus bodies out there. Uh, but they're saying, hey,
7:14
Speaker 3: if there's more capital flight towards US dollar, we take
7:17
Speaker 3: that as a win, especially when we're competing against uh,
7:19
Speaker 3: you know, global forces like China here for example, who
7:21
Speaker 3: are definitely trying to undermine the US dollar at any
7:24
Speaker 3: turn they can. So I think a lot of you know,
7:27
Speaker 3: arguments on the pro side are stable coins here, especially
7:29
Speaker 3: uh you know, more that China argument narrative. But also
7:32
Speaker 3: again for crypto, we've seen a lot of people use
7:33
Speaker 3: as a safe haven when they're to your point, they're
7:36
Speaker 3: local currencies have either gone defunct or they're trying to
7:38
Speaker 3: find a safe haven, uh, because of what's happening with
7:40
Speaker 3: their government. So overall, I think it's still, you know,
7:43
Speaker 3: more positive than it has been in years reception wise
7:45
Speaker 3: and understanding kind of the arguments. We haven't fallen into
7:48
Speaker 3: the trap of it's all money laundering again. Uh. But
7:50
Speaker 3: there's still a lot of education to go and there
7:52
Speaker 3: are definitely still some centers for using this as a
7:55
Speaker 3: tool to try to get their agenda cross uh into
7:57
Speaker 3: the Clarity Act.
7:58
Speaker 1: I like that they're using as a tool. I want
8:01
Speaker 1: to go to a clip real quick, because this is
8:03
Speaker 1: Trump talking about.
8:04
Speaker 3: Uh.
8:05
Speaker 1: We got a lot going on, and of course is
8:08
Speaker 1: clarity gonna take a back seat. Now take a look.
8:10
Speaker 7: You want to see a stock market could dawn because
8:13
Speaker 7: now I have to start the tariff so long again, very.
8:16
Speaker 6: Simple, And you plan to travel to Asia.
8:21
Speaker 1: At the end of this, I don't know.
8:22
Speaker 7: We're working on that right now, So it could be that.
8:25
Speaker 1: We delayed a little bit.
8:27
Speaker 6: Sure, when you attack carg Island.
8:31
Speaker 7: Why would I tell you what that there's stupid questions.
8:34
Speaker 6: When you say Cuba is next, Cuba is Cuba. Whatever
8:38
Speaker 6: you do with the.
8:38
Speaker 3: Military there, it seems like something will that look more
8:41
Speaker 3: like a ran or Venezuela.
8:44
Speaker 7: Can't tell you that they have nice land they have
8:47
Speaker 7: nice landscape.
8:48
Speaker 3: You know, I do believe I'll be the honor of
8:51
Speaker 3: having the honor of taking Cuba.
8:54
Speaker 1: That'd be good honor.
8:55
Speaker 7: That's a big honor, taking Cuba, taking Guba, I mean,
8:58
Speaker 7: free it, take it.
9:00
Speaker 1: I think I could do anything I want with it.
9:02
Speaker 1: You'll want another kid. He's all over the place, He's
9:06
Speaker 1: going everywhere. Man. As far as what his focus is,
9:10
Speaker 1: I mean, is he thinking about clarity right now?
9:14
Speaker 3: I mean he tweeted about it two weeks ago. He
9:16
Speaker 3: was pretty aggressive against the banks. I mean, I will
9:19
Speaker 3: tell a lot of folks that's actually a pretty good
9:21
Speaker 3: sign for clarity, is that this still remains tough of
9:23
Speaker 3: a his mindset when he comes to everything going on. So,
9:26
Speaker 3: I mean, you'll have tweets on Iran, tweets against the
9:28
Speaker 3: celebrity like Bill Maher or something, and then Crypto all
9:31
Speaker 3: of a sudden comes out of nowhere and he's blasted
9:32
Speaker 3: the banks.
9:32
Speaker 6: So I've been shocked he's been weighed in at this point.
9:35
Speaker 3: But then again, if you go back to the yield
9:37
Speaker 3: issue quickly, we still haven't seen resolution there as much
9:40
Speaker 3: pressure as the White House exerted, including the President himself.
9:42
Speaker 3: The banks have still not been able to find a
9:45
Speaker 3: compromise that they're willing to accept, so so.
9:47
Speaker 6: We'll see what happens.
9:48
Speaker 3: But the White House being involved even with everything going on,
9:51
Speaker 3: is a good sign for her clarity. The second that
9:53
Speaker 3: it kind of falls off the President's radar, that's gonna
9:55
Speaker 3: be a lot of hard and muscle the forces to
9:57
Speaker 3: get this cross fish.
9:58
Speaker 1: Time comes well, and one thing you got to look
10:01
Speaker 1: at as the balance of power here. You've got midterms
10:04
Speaker 1: coming up just a few months away, and it looks
10:07
Speaker 1: like the Dems have now started to lead out into
10:10
Speaker 1: the market, and I think is what is the Is
10:13
Speaker 1: there kind of a backup plan if the Dems take
10:16
Speaker 1: the Senate especially and start to control what we're going
10:19
Speaker 1: to possibly see in the House as well.
10:22
Speaker 3: I think we're con seeing the playing out right now
10:24
Speaker 3: with the agencies really stepping up and saying we're providing
10:26
Speaker 3: the guidance and here's a roadmap of what the guide's
10:29
Speaker 3: going to look like. We saw today with the no
10:31
Speaker 3: action letter for an it's huge, and we're gonna see
10:35
Speaker 3: a little more coordination. Looks like maybe tailored innovation exemption
10:38
Speaker 3: coming pretty soon from the SEC CFTC.
10:40
Speaker 6: There's that MLU last week.
10:41
Speaker 3: They're gonna be more recording, a lot more together on
10:43
Speaker 3: overside and enforcement potentially, and so I think the agencies
10:47
Speaker 3: are making that kind of backup plan that Congress isn't
10:50
Speaker 3: able to act. At least they'll have some guides there
10:53
Speaker 3: to go forward. But again, the next administration can come
10:55
Speaker 3: and undo it all. And I think the hope is
10:57
Speaker 3: understanding that I think we're past the issues of what security,
11:00
Speaker 3: what's a commodity? And you know that nature of the
11:03
Speaker 3: discussion has really shifted a lot. I can definitely go
11:05
Speaker 3: back to that conversation and everything's security and get some
11:08
Speaker 3: two point zero comes back. But the hope, I would
11:10
Speaker 3: say is that the market as well as folks in DC,
11:13
Speaker 3: understand that this is kind of where the market's settling
11:15
Speaker 3: at and we should not try to upend it. Getting
11:18
Speaker 3: rid of all the guidance that the trumpministration.
11:21
Speaker 1: You mentioned the no action letter to Phantom. This is
11:24
Speaker 1: a pretty big deal. What does this mean though?
11:29
Speaker 3: You know, I think it's kin of the first uh
11:30
Speaker 3: you know, I mean, we're seeing other no action letters
11:32
Speaker 3: from the CFDC, but this is definitely a first when
11:34
Speaker 3: it comes to more with the self custy side of
11:35
Speaker 3: things and more explicit protections here, but also being able
11:38
Speaker 3: to see, you know, you don't have to register with
11:40
Speaker 3: the CFTC to provide the services, and you can actually
11:42
Speaker 3: work with DCMS and FCMS if you're a self custing
11:45
Speaker 3: provider like so, shout out to my former colleague Rizakoppol.
11:49
Speaker 6: She did a great job over there in her team
11:51
Speaker 6: getting a no action letter.
11:52
Speaker 3: But overall that's a really positive sign because self custody
11:56
Speaker 3: has always been one of those things where even some
11:59
Speaker 3: of the modern Republicans not be on board folio with.
12:01
Speaker 6: But this administration is really doubling down saying this.
12:04
Speaker 1: Is important, big deal. Hey, I want to play a
12:07
Speaker 1: couple of quick clips for you. What is the ABA summit?
12:10
Speaker 1: Did you see some of the stuff that came out
12:11
Speaker 1: of that? Oh yeah, it was horrendous. This is the
12:15
Speaker 1: kind of stuff we were dealing with right now, let
12:18
Speaker 1: me go to this clip.
12:19
Speaker 7: If you follow the policy debate here in DC, you
12:21
Speaker 7: would think that everyone is eager to add stable coin
12:24
Speaker 7: to their wallets. That is not exactly what our poll suggests.
12:27
Speaker 7: Only seventeen percent are likely.
12:29
Speaker 1: To buy hold or use stable coin.
12:31
Speaker 7: What about the issue of the day, the issue of
12:33
Speaker 7: the moment, the debate over stable coin rewards and yield.
12:35
Speaker 7: Our latest poll number show Americans share our concerns. Americans
12:39
Speaker 7: say Congress should bar stable coin issuers and affiliates from
12:42
Speaker 7: offering interest and rewards.
12:44
Speaker 3: Three to one consumers are saying they don't want Congress
12:48
Speaker 3: to take any action.
12:51
Speaker 1: Where do they get this research? That's what I want
12:54
Speaker 1: to know. Where do they pull that stuff from? Because
12:56
Speaker 1: that was a bunch of BS data.
12:58
Speaker 6: It had to be, you know's.
13:00
Speaker 3: That's one way to play the DC game. Then they
13:02
Speaker 3: love these talking points. They love, you know, we go
13:04
Speaker 3: back to the crypto talking points. In twenty twenty four,
13:06
Speaker 3: one in five Americans own scrypto, and a lot of
13:08
Speaker 3: people in the detractors sider are saying that's BS. I
13:11
Speaker 3: look at these numbers here, I question it as well.
13:13
Speaker 3: You know, do consumers say, yeah, actually, I don't want
13:16
Speaker 3: you know, three to five percent yield on my deposit,
13:18
Speaker 3: you know, point zero one percent again? And I'm not
13:21
Speaker 3: sure why they're dressing up as a consumer argument because
13:24
Speaker 3: if I know, it's more to peel the Democrats. But
13:26
Speaker 3: it falls flat because anyone normal would be like, yeah,
13:29
Speaker 3: I want the one to get more money because you know,
13:32
Speaker 3: we'll take as much yield as we can get a
13:33
Speaker 3: time when appropriate. But it seems here that the banks
13:36
Speaker 3: really try and dress it up as a huge lending concern.
13:40
Speaker 3: And actually, you know, later on in the conference they
13:42
Speaker 3: do try to attack D five, which is at least
13:44
Speaker 3: in my experience, the first time they've really publicly done that,
13:47
Speaker 3: at least in bank. Yeah, and that shows to me,
13:51
Speaker 3: you know, it's a yield issue. They're not really compromising
13:53
Speaker 3: much on orways, really seem to give any way here,
13:55
Speaker 3: even though the crypto folks and White House I've seen
13:58
Speaker 3: very open to trying to find a deal, and now
14:00
Speaker 3: the bank's doing out the DeFi stuff. It lends me
14:03
Speaker 3: to believe that they're trying to throw as many roeblocks
14:05
Speaker 3: as they can for clarity and that defied He is
14:09
Speaker 3: probably the kicker in my opinion, But we'll see how.
14:12
Speaker 6: It plays out.
14:12
Speaker 3: But yeah, ABA is really going aggressive here and we'll
14:16
Speaker 3: see if they can compete with crypto.
14:18
Speaker 1: Well, yeah, we'll see. They had another clip that we
14:21
Speaker 1: put together. This was their survey data on merchants. Because
14:25
Speaker 1: now you're talking about the retail side of this. Here's
14:28
Speaker 1: what they had to say.
14:29
Speaker 7: Sixty one percent would oppose versus twenty five percent that
14:32
Speaker 7: would support lowering demit interchange fees for retailers.
14:36
Speaker 5: The merchant gets to choose which network over which the
14:39
Speaker 5: transaction gets routed, and the merchant's priority is to drive
14:42
Speaker 5: down the cost of acceptance, and it's out of everyone's hands.
14:45
Speaker 1: But the merchants, so out of everyone's hands except the merchant,
14:49
Speaker 1: which of course gives a chance to hopefully at some
14:51
Speaker 1: point choose crypto or at least some sort of payment
14:56
Speaker 1: architecture that is going through crypto so you don't have
14:58
Speaker 1: to get banks as the clearinghouse. So are do Congress?
15:02
Speaker 1: Does Congress understand the way that these merchants are just
15:05
Speaker 1: getting killed with all these fees?
15:08
Speaker 6: Oh hundred percent?
15:08
Speaker 3: The interchange fee has been probably employing one hundred lobbyist
15:11
Speaker 3: plus in DC for several decades at this point, because
15:14
Speaker 3: it's been some huge topic. But it's the Credit Card
15:18
Speaker 3: Competition Act. That's that's a bill that got thrown in there,
15:20
Speaker 3: the Genius Act. It's gonna probably get thrown there in
15:22
Speaker 3: the Clarity Act last second for amendment. So this has
15:24
Speaker 3: gotten a lot of folks on either side of the
15:27
Speaker 3: issue here, but largely has not progressed much in DC.
15:30
Speaker 3: But that interchange fee issue, it is one of the
15:32
Speaker 3: biggest ones in d C, but it has not moved
15:34
Speaker 3: the neild to too much. Although we've seen Trump you know,
15:38
Speaker 3: entertained possibly look at those interest rates too, so you know,
15:41
Speaker 3: we'll see what happens with this administration.
15:42
Speaker 6: But overall, that's a huge fight, and that's been a
15:44
Speaker 6: lobby metal for years.
15:45
Speaker 1: That Yeah, Hey, I want to go to the lightning
15:49
Speaker 1: route with you. We got a lot of questions here.
15:52
Speaker 1: Military conflicts escalate and clarity gets sidelined. Do you think
15:56
Speaker 1: that'll happen?
15:58
Speaker 3: It's happening right now, and to makes some make sense,
16:00
Speaker 3: so I say yes. But again, it does not mean
16:03
Speaker 3: it's a game oder.
16:04
Speaker 1: Yeah, I think yes, they'll get sideline. Now the question
16:07
Speaker 1: is how do they deal with it? Warren says, you
16:11
Speaker 1: know more terrorists and Middle East are using crypto to
16:13
Speaker 1: scrape escape the Iranian sanctions. You think, yeah, that's.
16:16
Speaker 6: An easy Yes, that's an easy one too.
16:19
Speaker 1: Yeah, she'll do that in a second. This is her.
16:21
Speaker 1: This is like catnip for her. What talking points is
16:25
Speaker 1: killing lobbyists and Ron Hammond the most. You know, I
16:32
Speaker 1: see it's one of the corruption piece.
16:36
Speaker 3: It's a coruption angle because yeah, it's it's the media
16:39
Speaker 3: is really last onto it. So there's just a pervasive
16:41
Speaker 3: view that you know, even like Leada comedians talking about
16:44
Speaker 3: the Trump crypto corruption.
16:46
Speaker 6: So it's tough narrative because it's not true that way.
16:49
Speaker 6: But every time.
16:50
Speaker 1: You're pitching to someone, you probably have to deal with that,
16:54
Speaker 1: that hurdle. You got to go over it every single time.
16:56
Speaker 3: Right, Yeah, it's a great believe if we can all
16:58
Speaker 3: just buy a bunch of really financial' get of you know,
17:00
Speaker 3: all these things. I'm sure a lot more people have
17:02
Speaker 3: done it by now, But that's that's a situation that
17:05
Speaker 3: we're in.
17:06
Speaker 1: Other crypto companies that are about to throw coin base
17:09
Speaker 1: under the bus. Do you think that's gonna happen?
17:15
Speaker 3: You know, at least in the loving side of things.
17:17
Speaker 3: I've come to learn from the crypto side, especially that
17:19
Speaker 3: they love to eat their own tail. You know, no
17:21
Speaker 3: bills permit for the crypto industry. Even Bill I on
17:24
Speaker 3: which is the first my partison in crypto marketructure. Bill
17:27
Speaker 3: I had some crypto companies come out against it because
17:29
Speaker 3: it wasn't the way they like to see it. So yes,
17:31
Speaker 3: people will do that with the large majority of people
17:33
Speaker 3: throw coinbas to near the bus buying farm. No, uh,
17:36
Speaker 3: and largely coinbas have been doing a really good job
17:38
Speaker 3: on the lobbing.
17:39
Speaker 1: Side, all right. I think they will. I think they're
17:41
Speaker 1: going to go after them eventually. Who is the most
17:44
Speaker 1: reasonable negotiator right now? Do we have the banks or
17:46
Speaker 1: I rate the Iran people?
17:49
Speaker 3: You know, I'd say the banks because at least, you know,
17:52
Speaker 3: the folks in DC are speaking very different language than
17:54
Speaker 3: what we're hearing here in New York, where a lot
17:56
Speaker 3: more folks are a lot very excited on the crypto
17:59
Speaker 3: side things and getting whereas DC's.
18:01
Speaker 1: The opposite opposite. Wow, Jonathan gold o CC is he
18:06
Speaker 1: our ally or not? True or false?
18:08
Speaker 6: No, he's true.
18:09
Speaker 3: He's great after him for years, He's appro j of
18:12
Speaker 3: Brian Brooks back in the day, So he's a fantastic guy.
18:16
Speaker 3: I know he's got a lot of pressure. We'll see
18:17
Speaker 3: what happens with all the OCCU rule making there. Definitely
18:20
Speaker 3: keep your eyes on it because the banks are definitely
18:22
Speaker 3: trying to use as back end to get to Yeah,
18:24
Speaker 3: the yield issue, so we'll see what overall.
18:28
Speaker 1: Yeah, I'm more of a wait and see on this one.
18:29
Speaker 1: I got to see some stuff coming out of there.
18:31
Speaker 1: It's early, but I'm leaning in there, mainly because of
18:35
Speaker 1: that little timing that happened here recently with an occ situation.
18:40
Speaker 1: So Bernie Moreno, you know he was supposed to be
18:42
Speaker 1: at that summer right. What happened? How did Bernie Marina?
18:46
Speaker 1: This is one of the best senators out there that
18:48
Speaker 1: should have been focused. Do you think they got the video?
18:52
Speaker 1: Bernie slammed them and they said, oh, we can't put
18:55
Speaker 1: that out.
18:56
Speaker 3: What happened actually before a colleague we're calling to work
19:00
Speaker 3: in that office. So actually I do not know. I
19:02
Speaker 3: have not asked them. Very ang it's been fantastic that center.
19:05
Speaker 6: He's been.
19:06
Speaker 3: I remember meeting with him back in twenty eighteen on
19:08
Speaker 3: Crypto back in the day in Ohio, So he's been
19:10
Speaker 3: an og guy here. I don't think he cancel last second.
19:14
Speaker 3: He doesn't like to stay away from a fight.
19:15
Speaker 1: So exactly, I think the ABI got it, and you
19:20
Speaker 1: know they even mentioned it. We played the clip about
19:23
Speaker 1: it where they were saying, hey, listen, he's not going
19:25
Speaker 1: to have some people don't have the same ideas as we,
19:28
Speaker 1: but we want to listen to everybody. Then you know,
19:30
Speaker 1: they had to listen to someone that actually made sense,
19:33
Speaker 1: and that kind of messes you up when you are
19:35
Speaker 1: against something and somebody actually presents something, Yeah, that makes sense.
19:39
Speaker 1: And then of course it happened. Then they cut Bernie, Bernie,
19:42
Speaker 1: they cut Bernie out. I mean, come on, here we go.
19:45
Speaker 1: Would commonl of Clarity Act have passed by now?
19:49
Speaker 3: No, if we're assuming this is a Republican or even
19:51
Speaker 3: a Democrat Congress, yeah, he would not have gotten to
19:55
Speaker 3: the stage yet. So I think everyone needs to realize
19:57
Speaker 3: that we would have not been here if it wasn't
19:59
Speaker 3: for this cour administration or current Congress.
20:02
Speaker 6: We still have a lot of ways ago.
20:04
Speaker 1: What about what we ask and that not. Yeah, to
20:07
Speaker 1: come in and get this done.
20:10
Speaker 3: You know, I haven't never dealt too much of the
20:11
Speaker 3: Israeli regulators before, but I know they've been you know,
20:14
Speaker 3: they got a pretty good cohort in Tel Aviv cryptan developers.
20:16
Speaker 1: So exactly, yeah, I think you get crypto developers in there.
20:22
Speaker 1: We've had someone on the show here. Last question to you,
20:25
Speaker 1: Ron Habits should quit and become a double agent in
20:28
Speaker 1: the banking lobbys secretly report to us.
20:32
Speaker 3: You know, I like the flexiblity crypto, and I love
20:34
Speaker 3: the characters, and I believe the technology. So I'm good
20:38
Speaker 3: at pivoting thing. Probably prediction markets right now, that seems
20:40
Speaker 3: to be the next boon in the lobving side of things.
20:42
Speaker 6: But overall, as much as I.
20:46
Speaker 1: Think you can pull this off RN, I think you
20:48
Speaker 1: can pull this off.
20:53
Speaker 6: Of crypto. Yeah.
20:54
Speaker 3: Hey, we're invading crypto already on Wall Street here in
20:56
Speaker 3: New York. A bunch of folks are in Soho, So
20:58
Speaker 3: it's kind of weird. It's all the crypto bros and
21:00
Speaker 3: Soho for the most part, and we are right next
21:02
Speaker 3: door to Wall Street and we're here.
21:04
Speaker 1: I love it, man. We are interested, and we're continuing
21:08
Speaker 1: to see a lot happening. So thanks for coming in today.
21:10
Speaker 1: We're gonna be covering a lot of this because obviously
21:12
Speaker 1: clarity is heating up, and hopefully we'll get some kind
21:15
Speaker 1: of indicator here for sure, what would be the one
21:18
Speaker 1: thing that could come out this week that would make
21:22
Speaker 1: you think, ah, something's changed.
21:26
Speaker 3: So next that's when you're gonna look for as a
21:28
Speaker 3: mark up. That's why when Center Scott. Tim Scott's going
21:30
Speaker 3: to probably anounce when that's gonna happen. Some rumors are
21:33
Speaker 3: staying before Easter. I'd see before May first is probably
21:37
Speaker 3: a good sign anytime. If it's after Moral Day, we're
21:41
Speaker 3: gonna start having some problems for potentially. But right now,
21:43
Speaker 3: I don't look at Tim Scott. He's kind of the
21:45
Speaker 3: guy who has a starting gun for the next big
21:46
Speaker 3: thing to give us.
21:47
Speaker 6: Being going on.
21:48
Speaker 1: He had a meeting, yeah, and he had a big
21:50
Speaker 1: meeting today. I wonder what's going to come out of that.
21:53
Speaker 1: I haven't seen anything hit the press yet, so we'll
21:56
Speaker 1: see on that anyway. Ron Hammond coming in from winter
21:59
Speaker 1: Mew to thank you so much for stopping it. We
22:00
Speaker 1: appreciate it.
22:01
Speaker 6: Thanks Paul get Better.
22:09
Speaker 1: If you like this video, hit like and subscribe, drop
22:12
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