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U.S. Crypto Press Conference 🔴Digital Asset Policy Unveiled🚀 · The Paul Barron Crypto Show

0:08
Speaker 1: All right, so we're gonna be going here live today,
0:10
Speaker 1: so it's gonna be a good one. We're gonna be
0:11
Speaker 1: breaking down the press conference on what is a historic event,
0:14
Speaker 1: and that is the first ever crypto press conference coming
0:18
Speaker 1: in and out of the White House. My name is
0:20
Speaker 1: Paul Barrel. Welcome back in the tech path. We're going
0:22
Speaker 1: to dive in today. We'll get a chance to hear
0:24
Speaker 1: what David Sachs is going to be talking about and
0:28
Speaker 1: also releasing whether it's just a plan or whether or
0:31
Speaker 1: not they will be able to have some actionable items
0:33
Speaker 1: going next up here, just taking a quick look at
0:36
Speaker 1: the chart here as bitcoin on the five minute is
0:39
Speaker 1: starting to move up slightly, so we of course we'll
0:42
Speaker 1: take a look at that. We'll be airing that as
0:44
Speaker 1: soon as they go live here in a second. A
0:45
Speaker 1: lot happening within crypto today when you look at not
0:49
Speaker 1: only where the market has been coming from over the weekend,
0:52
Speaker 1: obviously we saw some setbacks. I think now whether it
0:56
Speaker 1: is a pent up demand for a lot of this
0:58
Speaker 1: information and how the administration to be going moving forward,
1:02
Speaker 1: I think is the big question that everybody's looking at
1:05
Speaker 1: right now.
1:06
Speaker 2: A couple of.
1:06
Speaker 1: Points right here that they'll be talking about. You'll see
1:09
Speaker 1: some of these people coming on hopefully here in a
1:11
Speaker 1: bit when they actually start airing it. But we've got
1:15
Speaker 1: David Sacks, of course, he is the crypto and AI zar.
1:18
Speaker 1: This is a role that Sachs has played, I think
1:22
Speaker 1: really when you look at out of Silicon Valley, his
1:25
Speaker 1: role with PayPal, the evolution to what he's done in
1:28
Speaker 1: the SaaS space, which is really what he's known for
1:32
Speaker 1: Software's Service, a lot of those investments and startups. So
1:34
Speaker 1: he's the right kind of guy. Obviously he's a co
1:37
Speaker 1: host over at the All In podcast, but you've got
1:41
Speaker 1: Tim Scott coming in, Boozman, french Hill will also be there, Thompson.
1:45
Speaker 1: All of these guys are going to be there hosting
1:48
Speaker 1: this event. And I think the point of what they're
1:51
Speaker 1: going to be talking about again is really the direction
1:55
Speaker 1: of how this committee and how this plan is going
1:58
Speaker 1: to go forth for President Trump in terms of how
2:01
Speaker 1: do we establish a crypto framework and whether this is
2:05
Speaker 1: lining up to go in line with what Congress is
2:08
Speaker 1: going to do from a legislative standpoint, or if this
2:12
Speaker 1: is giving real actionable steps that may be coming from
2:16
Speaker 1: the Oval Office itself. So there's a lot of people
2:20
Speaker 1: really kind of speculating as to what the potential of
2:23
Speaker 1: this is going to be. A couple other things. Of course,
2:25
Speaker 1: you guys will see as you guys can see a
2:27
Speaker 1: little bit about the hearing titled Choke Point two point
2:31
Speaker 1: zero coming up, and this one is coming out on
2:33
Speaker 1: February sixth. This will be a two PM. I don't
2:36
Speaker 1: know if we'll do this one. We may we may
2:37
Speaker 1: do a livestream on this one as well to kind
2:40
Speaker 1: of see what's coming in there. But I think the
2:43
Speaker 1: thing when you look at choke Point in general, the
2:45
Speaker 1: interesting thing is when the industry has of course been
2:49
Speaker 1: feeling this for quite some time. The big issue is,
2:53
Speaker 1: I think the administration has not necessarily realized that this
2:58
Speaker 1: was going on for some time. So this was probably
3:02
Speaker 1: a bit of a surprise to traditional traditional politicians and
3:06
Speaker 1: really kind of the future of where all this is
3:08
Speaker 1: heading choke Point. This could be a good one to
3:11
Speaker 1: kind of talk about. This will be Austin Campbell over there,
3:14
Speaker 1: Paul Greywall, so we've got some I'm kind of zoom
3:16
Speaker 1: in on that for you guys. Fred Thiel, he's the
3:19
Speaker 1: Mara CEO, and then Shana who is the director of
3:22
Speaker 1: banking policy in better Markets. I don't know how much
3:25
Speaker 1: will come out of that, but I think the realization
3:27
Speaker 1: of choke point two point zero will be a big
3:29
Speaker 1: factor kind of going to the next level. And remember
3:32
Speaker 1: that the likelihood of banks actually having crypto in custody
3:38
Speaker 1: this year that could become reality. I think this is
3:40
Speaker 1: a factor that we're starting to see more and more
3:43
Speaker 1: of in terms of the potential the speed to market
3:47
Speaker 1: in which that could happen. I was on just this
3:49
Speaker 1: week with Matt Hogan from bit Wise, and he kind
3:52
Speaker 1: of broke it down in the sense of if this
3:55
Speaker 1: truly goes through, if we see SAB one twenty one
3:58
Speaker 1: really start to be implemented on the banking level, what
4:03
Speaker 1: kind of impact would that do to the banking industry
4:06
Speaker 1: as a whole. How fast would they go to market?
4:09
Speaker 1: How quickly would they allow you to possibly house your
4:12
Speaker 1: own bitcoin and ethereum or other assets within it. His
4:16
Speaker 1: comment was surprising to me, and he felt that this
4:20
Speaker 1: was literally could be on a speed pass moving into
4:24
Speaker 1: the banking ecosystem, mainly because what they're seeing globally and
4:28
Speaker 1: I think, as you guys know, SBI is getting ready
4:31
Speaker 1: to draw out some pretty big deals with Ripple and
4:33
Speaker 1: XRP in Japan, which is part of that banking ecosystem
4:37
Speaker 1: that's happening in Asia. So the alignment of what we're
4:41
Speaker 1: seeing in the Asian markets aligned with what's happening here
4:44
Speaker 1: out of DC could really open up an opportunity here
4:47
Speaker 1: I think for banks going forward. Now we're going to
4:50
Speaker 1: get ready to go live here in a little bit
4:54
Speaker 1: and we'll get kind of chatting on that. I want
4:56
Speaker 1: to take a look at where the market is holding
4:58
Speaker 1: right now. Bitcoin holding looks like it's edging right back,
5:01
Speaker 1: and I'm on the five minute chart, it's edging back
5:03
Speaker 1: over one hundred k, so about one hundred and eight thousand.
5:06
Speaker 1: We'll take a look at that, uh mix, sure some
5:11
Speaker 1: I don't know if we'll be able to do a
5:12
Speaker 1: full lineup of questions afterwards, but we will try to
5:15
Speaker 1: get to some of those as possible. Other things I
5:19
Speaker 1: want to hit on, of course, is US etherrem ETF
5:21
Speaker 1: posts a record one point five billion in daily trading volume.
5:25
Speaker 1: This is a course during all the tariff scenario that
5:28
Speaker 1: we saw with the President putting some pressure on both
5:31
Speaker 1: Canada and Mexico. I think when you look at the
5:35
Speaker 1: tactic that President Trump used, many people would have questioned
5:38
Speaker 1: that to be a useful tackt obviously a crank tank
5:42
Speaker 1: the crypto markets, but in reality he was able to
5:45
Speaker 1: get what he wanted out of the Mexican president and
5:49
Speaker 1: also out of Justin Trudeau. So I think in the
5:52
Speaker 1: end the payoff was there. Now, I know there's a
5:54
Speaker 1: lot of argument out there, and we hear this, you
5:56
Speaker 1: know from the other side of the aisle that a
5:59
Speaker 1: lot of this stuff was already in place. But I
6:01
Speaker 1: think the awareness when you think about what President Trump
6:05
Speaker 1: has been able to do in a short period of time,
6:07
Speaker 1: the awareness both on our northern and southern borders and
6:11
Speaker 1: what that impact is of just what we've seen with
6:14
Speaker 1: the legal immigration. He got what he wanted, so that
6:18
Speaker 1: in itself kind of put the markets in a little
6:20
Speaker 1: bit of a free fall, and we saw, of course
6:23
Speaker 1: Ethereum start to recover there fairly nicely. And if you
6:26
Speaker 1: look at Trump's own portfolio, I'm just kind of looking
6:31
Speaker 1: right here, holdings by chain still Ethereum holding up number
6:35
Speaker 1: one right now. So kind of interesting to see the
6:39
Speaker 1: President of the United States in portfolios like this. Of course,
6:42
Speaker 1: Trump token as you guys know, has been a big one.
6:45
Speaker 1: Did you guys get the Trump token? I'm kind of curious,
6:47
Speaker 1: you know, let us know down in the comments. We'll
6:49
Speaker 1: try to get to some of those. I see a
6:51
Speaker 1: lot of comments coming in again, we'll try to get
6:53
Speaker 1: some of that in a minute. I know that they
6:55
Speaker 1: are what appears to be delayed on their livestream, so
7:01
Speaker 1: we'll try to get going as soon as that comes
7:02
Speaker 1: available and get that trucking for you guys. Other things
7:07
Speaker 1: that are happening right now is whether or not ETH
7:11
Speaker 1: is going to be the chosen one I think going forward.
7:14
Speaker 1: And one thing to consider here when you look at
7:17
Speaker 1: Ethereum along with some of the other assets that I
7:20
Speaker 1: think have started to play out, is that and this
7:23
Speaker 1: course Eric trump On, we're Liberty five and we've seen
7:28
Speaker 1: a lot happening I think around what they've been doing
7:31
Speaker 1: from a traditional investment strategy, ETH of course has been
7:34
Speaker 1: the leading factor for them, so pretty big deal. I
7:38
Speaker 1: think when you see a digital asset and DeFi platform
7:42
Speaker 1: really moving to this next level, and it's essentially associated
7:47
Speaker 1: with the President of the United States. So crazy things
7:50
Speaker 1: going on for sure. Other things that I think you
7:53
Speaker 1: have to concern yourself with is in general, is when
7:57
Speaker 1: the markets are like this, And this is a thing
7:59
Speaker 1: that I think a lot of people are looking at
8:01
Speaker 1: right now. Is it the time for if you're brand
8:04
Speaker 1: new to crypto, is this the time to possibly go in?
8:06
Speaker 1: Because here's the thing. When you consider the potential of
8:10
Speaker 1: not only regulatory framework coming in, but you also consider
8:16
Speaker 1: the potential of what could happen with a positive notion
8:21
Speaker 1: from the White House, especially around digital assets, does that
8:25
Speaker 1: give you enough of a indicator of where the market
8:29
Speaker 1: could really start to move from Because many people have said, hey,
8:31
Speaker 1: if President Trump or the White House comes out with
8:35
Speaker 1: the czar with David Sachs comes out and puts out
8:39
Speaker 1: a real lineup going forward, then this could mean something
8:44
Speaker 1: pretty big for some of the biggest chains out there.
8:46
Speaker 1: And if you look when I say James blockchains, whether
8:49
Speaker 1: that is something like an ethereum A or even XRP
8:55
Speaker 1: or Ripple starting to play into this. If we look
8:57
Speaker 1: at digital assets as a whole, I think everybody still
9:01
Speaker 1: kind of stuck in on that very same thing. So
9:04
Speaker 1: we'll be covering this a little bit of the coverage
9:07
Speaker 1: right there coming in. It looks like it's coming in
9:10
Speaker 1: with Tim Scott probably will do the announcement coming in.
9:14
Speaker 1: Remember that there's some things happening within the states as well,
9:18
Speaker 1: strategic bitcoin reserves. If you look at some of the
9:21
Speaker 1: states that have already lined up on this pretty significant,
9:24
Speaker 1: and we had Dennis Porter on not too long ago
9:27
Speaker 1: talking about where bitcoin could be lined up, especially from
9:31
Speaker 1: a state standpoint, and all of this pretty much on
9:35
Speaker 1: the green lit for where some of these projects in
9:39
Speaker 1: terms of states could start to look at bitcoin as
9:41
Speaker 1: a true strategic digital asset going forward. So Bitcoin bill
9:46
Speaker 1: are introduced, and then right now the bitcoin bill is
9:49
Speaker 1: under vote in Utah and Arizona. You also have the
9:53
Speaker 1: bill for holding which is in North Carolina but not
9:57
Speaker 1: as a strategic reserve, but everybody else pretty much has
10:01
Speaker 1: got their line up going in on a strategic reserve.
10:04
Speaker 1: I imagine as we see the year progress here, we
10:08
Speaker 1: will see more states coming in on this map, just
10:11
Speaker 1: in the sense of where and what they're going to
10:14
Speaker 1: be doing around digital assets. And what's next is whether
10:17
Speaker 1: or not we will see the potential for other assets
10:22
Speaker 1: maybe making it into that space as well. So I
10:25
Speaker 1: think that's the question that everybody's asking is if that
10:27
Speaker 1: were to occur. If we were to get into a
10:30
Speaker 1: position to where other assets could go into these strategic
10:34
Speaker 1: reserves or these digital coffers, so to speak, what would
10:37
Speaker 1: they be? And of course we all know kind of
10:39
Speaker 1: the line list have you guys been watching, by the way,
10:41
Speaker 1: the list of American based crypto companies, even over on
10:46
Speaker 1: the category for on coin market cap. I'll try to
10:48
Speaker 1: bring it up in a minute, is kind of interesting.
10:51
Speaker 1: It seems to me as though it's almost growing. So
10:54
Speaker 1: is everybody kind of just say, hey, how can we
10:57
Speaker 1: be monitored as an American crypto company? Everybody's asking that
11:02
Speaker 1: question right now. Conference had just to let you are
11:06
Speaker 1: going to try to live stream the press conference coming
11:09
Speaker 1: out of the White House, and this of course will
11:12
Speaker 1: be for David Sachs talking about the potential for what
11:17
Speaker 1: this Digital Committee is going to be doing around digital
11:20
Speaker 1: assets as a whole.
11:22
Speaker 2: One thing.
11:22
Speaker 1: Remember has a background on David Sachs, just so you
11:26
Speaker 1: guys can get a framework if you're brand new to
11:29
Speaker 1: our channel or your brand new to crypto, you may
11:32
Speaker 1: completely understand some of the history behind Sachs and his
11:36
Speaker 1: involvement with Solana. And first of all, he was a
11:40
Speaker 1: big Salona holder and he's been in crypto for quite
11:43
Speaker 1: some time, so he's fully aware of how not only
11:47
Speaker 1: digital assets work, but especially around large communities, which is
11:51
Speaker 1: one of the things that I think Solana does such
11:52
Speaker 1: a great job with. And with all of that, you
11:56
Speaker 1: look at it and you wonder, well, if there's a
11:58
Speaker 1: guy in charge here crypto and a Isaac Zar and
12:03
Speaker 1: he's somewhat basically an al coin, you know call it,
12:08
Speaker 1: is he going to be interested in actually implementing strategy
12:11
Speaker 1: around bitcoin? That would be the question I think a
12:13
Speaker 1: lot of people have continued to push.
12:15
Speaker 2: Now.
12:15
Speaker 1: President Trump in his promises have been bitcoin strategic reserve,
12:21
Speaker 1: not necessarily digital asset strategic reserve. So everybody has been
12:25
Speaker 1: asking that question as to what assets would go in there,
12:29
Speaker 1: and if it's just going to be something as simple
12:32
Speaker 1: as the United States saying, hey, we're going to go
12:35
Speaker 1: ahead and put strategic reserves in, but it's on stuff
12:38
Speaker 1: we already owned. Maybe it's bitcoin that we already owned.
12:41
Speaker 1: So it'll see. I think it'll play out going in
12:46
Speaker 1: the next few days. Looks like we're getting ready to
12:48
Speaker 1: go live here in a second. So see if we
12:50
Speaker 1: can pull this.
12:50
Speaker 3: Up from both the House and the Senate. I want
12:53
Speaker 3: to thank Chairman Tim Scott, Chairman French Hill, Chairman John Boseman,
12:58
Speaker 3: and Chairman Gt.
12:58
Speaker 2: Thompson.
12:59
Speaker 3: So thank you all fear of leadership and commitment to
13:03
Speaker 3: addressing some of the most important opportunities of our time.
13:06
Speaker 3: In ensuring that the US remains at the forefront of
13:09
Speaker 3: innovation and digital assets. The President said in his Executive
13:14
Speaker 3: Order in the first week that it's the policy Ofstration
13:17
Speaker 3: to support the responsible growth and use of digital assets,
13:21
Speaker 3: blockchain technology, and related technologies across all sectors of the economy,
13:27
Speaker 3: and he established an Executive Branch Working Group for Digital
13:31
Speaker 3: Assets which includes Secretary best in A, Treasury, Secretary Nome
13:36
Speaker 3: soon to be confirmed, Attorney General Bondie, Secretary Latinik, e Commerce,
13:40
Speaker 3: and other all the other key administration officials that have
13:45
Speaker 3: an equity in crypto and similarly the SECS Task Force
13:51
Speaker 3: led by Hester Purse, which is also looking at this issue.
13:54
Speaker 3: And together our objective is to accomplish the task of
13:59
Speaker 3: the President signed for US in as EO, which is
14:02
Speaker 3: to propose a federal regulatory framework governing the issuance and
14:05
Speaker 3: operation of digital assets, including stable coins in the United States.
14:10
Speaker 3: I've talked to many founders over the past few years,
14:14
Speaker 3: and they've told me repeatedly that the number one thing
14:17
Speaker 3: they need from Washington is regulatory clarity. They just want
14:21
Speaker 3: to know what the rules of the road are so
14:23
Speaker 3: they can abide by them. We're coming off, frankly, four
14:26
Speaker 3: years of arbitrary prosecution and persecution of crypto companies, where
14:31
Speaker 3: the sec wouldn't tell founders what the rules were, but
14:34
Speaker 3: then they would prosecute them. And many founders have even
14:37
Speaker 3: told me stories of being debanked personally just because they
14:41
Speaker 3: had founded a crypto company. All of this, this approach
14:45
Speaker 3: was driving this important technology of the future offshore, and
14:49
Speaker 3: we want to keep that innovation onshore in the US.
14:52
Speaker 3: Financial assets are destined to become digital, just like every
14:55
Speaker 3: analog industry has become digital, and we want that value
14:58
Speaker 3: creation to happen in the United Stage rather than giving
15:01
Speaker 3: it away to other countries. This will also, I should add,
15:04
Speaker 3: be much better for consumer protection because it's easier for
15:07
Speaker 3: regulators to supervise an activity when it's on shore. And
15:11
Speaker 3: it's probably not a coincidence that the single biggest fraud
15:14
Speaker 3: in the history of crypto, which was FTX, was based
15:18
Speaker 3: in the Bahamas. By moving the innovation on shore, it'll
15:21
Speaker 3: be easier to separate out the good actors from the
15:23
Speaker 3: bad actors. And we want to encourage the good actors
15:28
Speaker 3: while protecting the market from the bad actors. And I
15:31
Speaker 3: think a market structure, market structured legislation with clear definitions
15:36
Speaker 3: and fair rules will do that. I want to say additionally,
15:40
Speaker 3: we're excited about working with both the House and Center
15:43
Speaker 3: on stable coin legislation.
15:44
Speaker 4: No.
15:45
Speaker 3: Senator Hagridy introduced a bill today this stable coins really
15:49
Speaker 3: have the potential to ensure American dollar dominance internationally, to
15:56
Speaker 3: increase the usage of the US dollar digitally as world's
16:00
Speaker 3: reserve currency, and in the process create potentially trillions of
16:04
Speaker 3: dollars of demand for US treasuries, which could lower long
16:07
Speaker 3: term interest rates. So let me stop there, and I
16:10
Speaker 3: want to thank a chairman, the chairman here today, Chairman
16:13
Speaker 3: Scott Chrman Hill, Chairman Bozeman, Chairman Thompson. I look forward
16:17
Speaker 3: to working with them as part of the administration to
16:19
Speaker 3: help turn President Trump's policy into reality. This was a
16:23
Speaker 3: Week one priority for the administration, and we're excited that
16:26
Speaker 3: our counterparts in Congress are equally committed to ensuring American
16:30
Speaker 3: dominance and digital assets. I look forward to working with
16:33
Speaker 3: each of you, and with that, I would say, work
16:37
Speaker 3: with each of you in creating a golden age in
16:40
Speaker 3: digital assets, and with that alternative to Chairman Scott, thank you.
16:44
Speaker 5: I think David represents promises made, promises kept. I love
16:49
Speaker 5: the campaign trail when President Trump was out there making promises,
16:52
Speaker 5: and we see today he's keeping those promises. And in
16:55
Speaker 5: so many ways, I think back to a kid as
16:57
Speaker 5: I was a long time ago, growing up but a
17:00
Speaker 5: single parent household, mired in poverty, and hoping that the
17:03
Speaker 5: American dream would one day be accessible for me. I
17:06
Speaker 5: think that we're standing here today at the precipice of
17:09
Speaker 5: greatness for so many kids who are looking forward to democratization,
17:14
Speaker 5: having access points for their families and for themselves that
17:18
Speaker 5: makes it easier and less expensive to do business in
17:21
Speaker 5: this country. I love the concept that we see today
17:26
Speaker 5: synergy within the Administration, the House, and the Senate focusing
17:30
Speaker 5: not on ourselves, but focusing on working class Americans who
17:34
Speaker 5: desperately need to reduce their prices and increase their access.
17:39
Speaker 5: That's what the BI Camera Working Group will help tackle.
17:43
Speaker 5: I have a pre existing working friendship with GT and
17:47
Speaker 5: French and John. And the good news is we come
17:50
Speaker 5: together already having proven the ability to work together to
17:55
Speaker 5: get things done for the American people. It's an exciting
17:59
Speaker 5: time to be an American. And as David said, the
18:02
Speaker 5: Golden Age has begun, and the good news is it's
18:07
Speaker 5: going to get better. I'm excited about what we will
18:11
Speaker 5: accomplish for the American people. I'm excited about the synergistics.
18:17
Speaker 2: Taking in the House and the Senate.
18:20
Speaker 1: Let's get french Hill in there, get some real cryptos.
18:24
Speaker 2: Frenhill.
18:25
Speaker 1: All right, there we go, Here we go.
18:26
Speaker 6: Thank you, Chairman Scott and David Seis, Thank you for
18:30
Speaker 6: coming to Capitol Hill to celebrate with us the fact
18:33
Speaker 6: that in the one hundred and nineteenth Congress we have
18:36
Speaker 6: a bicameral project for both a stable coins bill and
18:40
Speaker 6: a regulatory framework that will bring clarity to digital assets
18:44
Speaker 6: in the United States, so that we are the land
18:46
Speaker 6: of opportunity, the land of innovation that we have been
18:49
Speaker 6: for decades and so many other technologies. We don't want
18:53
Speaker 6: to be behind in financial technology and digital assets in
18:58
Speaker 6: the United States, but our innovators, as David Sachs reported,
19:01
Speaker 6: need clarity. They need to know what the rules of
19:03
Speaker 6: the road are. And that's why I'm excited to be
19:06
Speaker 6: here today to share this announcement that we're forming a
19:09
Speaker 6: work committee and the Senate Agriculture Committee to make progress
19:20
Speaker 6: on that clarity, for a regulatory framework and to create
19:25
Speaker 6: and structure a stable coins bill that will lend itself
19:29
Speaker 6: to advancing America as the reserve currency of the world.
19:33
Speaker 6: This is a big issue by Camerals. Support this year
19:38
Speaker 6: is dynamic because last year one hundred and eighteenth Congress,
19:41
Speaker 6: we had success on a bipartisan basis in the House
19:45
Speaker 6: on both stable coin legislation moving out of the House
19:48
Speaker 6: Financial Services Committee and for the regulatory framework moving across
19:52
Speaker 6: the House floor with a strong bipartisan vote seventy one
19:56
Speaker 6: Democrats joined House Republicans and moving that policy forward. So,
20:01
Speaker 6: in my view, with the wind at our back of
20:03
Speaker 6: a leader like President Trump who knows that financial innovation,
20:07
Speaker 6: financial technology is where America's heart is, where our entrepreneur's
20:11
Speaker 6: heart are, our hearts are, that that will lead from
20:14
Speaker 6: the executive branch. And now with this bicameral partnership with
20:19
Speaker 6: Senate Agriculture and Senate Banking, along with our House committees.
20:23
Speaker 6: I look very very forward to the success we're going
20:27
Speaker 6: to have in one hundred and nineteenth Congress. And let
20:30
Speaker 6: me ask my good friend from Arkansas, a fellow razorback,
20:33
Speaker 6: the Chairman of the House at Committee, John Boseman.
20:37
Speaker 7: We're all still excited about the big Kentucky win.
20:42
Speaker 2: So it's good to be with you all.
20:43
Speaker 7: We've been working hard on this for the last three years,
20:47
Speaker 7: and we've had our ups and our downs.
20:50
Speaker 2: When we started on it, crypto was.
20:52
Speaker 7: Gaining popularity, and then with Sam Batmin freed and other things,
20:57
Speaker 7: it seemed like perhaps it was in trouble. It's rebounded though,
21:03
Speaker 7: and it's bigger than ever. So our goal is to
21:07
Speaker 7: make sure that consumers are protected, make sure that the
21:11
Speaker 7: industry in order for it to grow and be able
21:14
Speaker 7: to offer it's all of the things that it does
21:17
Speaker 7: offer to the various disciplines that are out there, whether
21:21
Speaker 7: you're a bank or whether you're.
21:26
Speaker 2: Whatever.
21:27
Speaker 7: You've got protections their structure in it, and it will
21:32
Speaker 7: allow the industry itself, because it is regulated, people have
21:37
Speaker 7: confidence in that to grow. It's a little different than
21:42
Speaker 7: our normal situations. And then since we've got these jurisdiction things.
21:49
Speaker 7: So I'm the chairman of ACT. You know why am
21:51
Speaker 7: I here because we have the Commodity's Futures Trading Commission
21:55
Speaker 7: and some assets are commodity, these summer securities, So the
22:02
Speaker 7: SEC has jurisdiction of the securities. CFTC has security over
22:08
Speaker 7: the has jurisdiction over the other. So the idea that
22:12
Speaker 7: we're working together again, we've all been working separately.
22:16
Speaker 2: We've made progress.
22:17
Speaker 1: So as you guys can see, this is a lot
22:19
Speaker 1: of stuff that they've been doing. That's a good thing.
22:22
Speaker 1: I think lining up for maybe the next step, which
22:25
Speaker 1: is actually giving us some news. So here's sacks is
22:28
Speaker 1: back on now hopefully.
22:30
Speaker 7: And really set up a structure so that we can
22:33
Speaker 7: get a final structure to make this thing work.
22:36
Speaker 2: Is very very important.
22:37
Speaker 7: So I appreciate Senator Scott, I think really coming up
22:43
Speaker 7: with that idea, and I think it's a good one
22:46
Speaker 7: and we're looking forward to actually get some some things
22:49
Speaker 7: accomplished in the next several months.
22:54
Speaker 8: Right, good afternoon, everyone. I'm Congressman GT. Thompson, share of
22:59
Speaker 8: the of the House Agriculture Committee, and it's uh, this
23:04
Speaker 8: is what we're doing today is sort of the next
23:07
Speaker 8: step and what will be a milestone, which would be
23:09
Speaker 8: a great accomplishment for our country. You know, America really
23:14
Speaker 8: was a leader when it came to Internet one point oh, right,
23:17
Speaker 8: it was the Internet of knowledge, and the Internet two
23:20
Speaker 8: point oh again it was America that led debt for
23:23
Speaker 8: the world, not just for our citizens but for the world.
23:26
Speaker 2: And that was the.
23:26
Speaker 8: Internet of of of things. And then uh internet three
23:33
Speaker 8: point oh is what we're talking about today, and that's
23:34
Speaker 8: the Internet of value.
23:37
Speaker 2: And we're in.
23:38
Speaker 8: Approaching it in a principal way. You know. Uh, my
23:42
Speaker 8: colleagues here mentioned a couple of those. Number one, do
23:46
Speaker 8: no harm, you know, protect consumers, provide that regulatory structure
23:51
Speaker 8: that certainty both for the industry but quite frankly for
23:55
Speaker 8: the for the consumers as well. And secondly, is foster
23:59
Speaker 8: innovation because the opportunities are just really are unimaginable. Well,
24:05
Speaker 8: what I think, what I know, what I believe is
24:09
Speaker 8: that whatever's over the horizon is going to be very,
24:12
Speaker 8: very exciting.
24:13
Speaker 2: So I'm really well.
24:15
Speaker 8: First of all, just very thankful to President Trump for
24:18
Speaker 8: his historic efforts to bring regulatory clarity to the digital
24:22
Speaker 8: assets markets, his leadership with the work that David Sachs's
24:28
Speaker 8: is going to lead on his behalf is going to
24:30
Speaker 8: be a game changer for competitiveness in the global race
24:35
Speaker 8: to build the new economy. The President could not have
24:40
Speaker 8: picked a better person to helm his AI and digital
24:43
Speaker 8: asset efforts. David brings a wealth of experience in exploring
24:47
Speaker 8: new technologies and building successful businesses to this new role.
24:53
Speaker 8: You know, we've had great conversations and I know that
24:57
Speaker 8: he has laser focused on bringing certainty to digital asset markets.
25:02
Speaker 8: I want to congratulate my friend Chairman french Hill. He
25:05
Speaker 8: is the right man to lead the Financial Services Committee
25:08
Speaker 8: in the House at this moment, in this time, and
25:11
Speaker 8: he's a great partner and the type of leader that we.
25:14
Speaker 2: Need to advance this issue.
25:17
Speaker 8: We worked incredibly well last Congress together alongside Patrick McHenry,
25:21
Speaker 8: and I'm excited to build on that work together. I
25:24
Speaker 8: also want to congratulate our newly elevated Senate colleagues, Chairman
25:28
Speaker 8: Boseman and Chairman Scott. Perhaps there's no one more pleased
25:31
Speaker 8: than me to be able to say Chairman Boseman.
25:37
Speaker 1: Members that they're doing to congratulations. So vote the Pole
25:41
Speaker 1: real quick and subscribe to the channel if you haven't
25:43
Speaker 1: done it.
25:43
Speaker 2: Already.
25:44
Speaker 8: We did incredible work in the House last Congress in
25:47
Speaker 8: one hundred and eighteenth, and I'm proud of the efforts
25:49
Speaker 8: that went into our historic vote on Fit twenty one.
25:53
Speaker 8: I'm equally excited to have these partners in a new
25:55
Speaker 8: administration in place to be able to finish the job
26:00
Speaker 8: through to lead House Agriculture Committee members as we worked
26:04
Speaker 8: with this incredible team to put a bill on President
26:07
Speaker 8: Trump's desk. And I think at this point we're going
26:10
Speaker 8: to be in a position to take a few questions.
26:12
Speaker 6: Okay, you take some questions from the route. When you
26:16
Speaker 6: direct your questions, can you please say your day and Almily.
26:20
Speaker 2: We'll start with you.
26:24
Speaker 4: To can you talk a little bit about the building
26:31
Speaker 4: against you see now that we have a trade in Washington.
26:38
Speaker 2: Well, thanks Simbly.
26:39
Speaker 6: We did do good work at strong bipartisan work on
26:43
Speaker 6: one which was the clarity for a market structure bill.
26:47
Speaker 6: That bill had the basics for the exact bill that
26:51
Speaker 6: we'll propose to introduce again in one hundred and nineteenth Congress.
26:54
Speaker 6: There may be some modest changes, but it had by
26:57
Speaker 6: partson support. We did a lot of work in our
27:00
Speaker 6: markup and in the floor preparation for it in both
27:03
Speaker 6: the agg Committee under Dusty Johnson leadership and GT. Thompson's
27:07
Speaker 6: leadership and in House Financial Services. So on the Regulatory
27:11
Speaker 6: Framework bill, that'll be the approach of the House takes
27:14
Speaker 6: on stable coins. I think you'll see us have a
27:18
Speaker 6: bill that's very similar to the approach that's been taken
27:22
Speaker 6: in the Senate recently Senator Haggarty's introduced legislation. That bill
27:28
Speaker 6: was closer to the original proposal that Patrick McHenry put
27:31
Speaker 6: in place early in one hundred and eighteenth Congress. And
27:34
Speaker 6: I think you'll see the House expose a draft for
27:38
Speaker 6: stable coins. It would be similar to the approach taken
27:41
Speaker 6: by Senator Haggardy. Bill, let me ask GT to comment
27:46
Speaker 6: or Jim so We.
27:48
Speaker 5: I established this year a Digital Asset Subcommittee so that
27:51
Speaker 5: we could take a deep dive into market structure as
27:53
Speaker 5: well a stable coins.
27:54
Speaker 2: Good news is stable coins.
27:55
Speaker 5: Led by Bill Haggerty on the Senate sides out already
27:59
Speaker 5: today we see Cynthia Lummis is a co sponsor. Market
28:03
Speaker 5: structure is a place where you have left and right
28:06
Speaker 5: leaning in We have members from Jillibrand and Lumbas working
28:08
Speaker 5: together in the past, now working together in the future
28:11
Speaker 5: coming to the table to create the framework for the
28:14
Speaker 5: Senate so that we could harmonize FIT twenty one the
28:16
Speaker 5: parts that we see as a path forward to a
28:20
Speaker 5: signature into laws. So the good news is from my perspective,
28:23
Speaker 5: having the Digital Assets sub Committee really working on the
28:27
Speaker 5: market structure at the same time, simultaneously having Bill Hagrid
28:30
Speaker 5: to lead the conversation on stable coins, having that bill
28:34
Speaker 5: out for us to take a look at, and there
28:36
Speaker 5: will be an amendment process will be a part of
28:38
Speaker 5: that for us. And then hopefully very quickly we'll see
28:42
Speaker 5: the House they're working on it as well, so we'll
28:44
Speaker 5: have a legislation that's able to go to the President's desk.
28:51
Speaker 4: Right.
28:52
Speaker 8: Let me just just say I'm very proud of the
28:55
Speaker 8: work that we did in one hundred and eighteenth with
28:57
Speaker 8: FIT twenty one, and that was on and UH. You
29:01
Speaker 8: heard others talk about we had Republicans and Democrats. UH,
29:05
Speaker 8: certainly in committee and on the House floor significant vote
29:07
Speaker 8: that we achieved, but I like to say we achieved
29:10
Speaker 8: that in a tripartisan way.
29:12
Speaker 2: We worked UH.
29:14
Speaker 8: In bringing the industry, bringing key stakeholders to the table,
29:18
Speaker 8: and so I look forward to UH quite frankly on
29:21
Speaker 8: working with my colleagues here and and UH and President
29:25
Speaker 8: Trump to you know, to continue that process of refining
29:28
Speaker 8: what we do, whether it's market structures and the other
29:31
Speaker 8: aspects of this bill.
29:35
Speaker 2: All right, Fredid Peterson made a bunch more aduce. I
29:38
Speaker 2: wanted to ask if you.
29:40
Speaker 5: All are thinking about making changes and any.
29:43
Speaker 4: Money wandering law as a part of this bush getting
29:45
Speaker 4: the concerned banking or does occur and beyond and our
29:49
Speaker 4: concerns about undreds and our licenses and an.
29:53
Speaker 2: Out and your story too. It was really open for discussion.
29:58
Speaker 5: One of the things that the UP Committee will take
30:00
Speaker 5: a look at is the whole playing field. I mean,
30:02
Speaker 5: at the end of the day, get all of our
30:04
Speaker 5: members on board. We're going to have to be open
30:07
Speaker 5: to comments and thoughts on the issue.
30:10
Speaker 2: I think we're in a good place.
30:11
Speaker 5: The Bank Secrecy Act is something that we've discussed with
30:13
Speaker 5: the other side.
30:14
Speaker 2: They have a focus on it.
30:16
Speaker 5: I think that the broader conversation should not be about
30:19
Speaker 5: digital assets alone. It's about bad actors doing bad things
30:23
Speaker 5: by any means necessary, and so having that conversation from
30:26
Speaker 5: a panoramic view and not simply from an digital asset
30:29
Speaker 5: perspective is going to be important for us to get
30:31
Speaker 5: to the end of that conversation.
30:35
Speaker 2: Briton.
30:35
Speaker 6: I just wo I would add, having been to the
30:38
Speaker 6: sub committee chair in the last Congress, and Brian Style
30:42
Speaker 6: is going to have that mission this time. He'll do
30:44
Speaker 6: an excellent job, I think on the Market Structure Bill
30:48
Speaker 6: and the stable Coin Bill as it relates to the
30:50
Speaker 6: security aspects of it. We were very sensitive in one
30:53
Speaker 6: hundred and eighteenth Congress about the law enforcement aspects of
30:57
Speaker 6: digital assets, not any different than we are about any
31:01
Speaker 6: other means of transfer of or payment method, whether you're
31:06
Speaker 6: talking about cash or the AC system or real time payments.
31:10
Speaker 6: This is an important point. I agree with Senator Scott completely.
31:13
Speaker 6: We'll listen to our members.
31:15
Speaker 2: But in the.
31:15
Speaker 6: Drafts that we pro offered last year that as I say,
31:18
Speaker 6: we had biparison support for, they had strict AML standards
31:23
Speaker 6: in them for this digital arrangement for digital assets that
31:28
Speaker 6: are not unlike the requirements out in the analog financial
31:31
Speaker 6: services space. It's why we call the bills fit for purpose,
31:36
Speaker 6: because this is not an intermediated form of finance anymore,
31:40
Speaker 6: and so these laws have to reflect how.
31:44
Speaker 2: Transactions are conducted.
31:46
Speaker 6: But it's AML and BSA are important for every member
31:49
Speaker 6: on both sides of the capital.
31:54
Speaker 4: Thank you, thank you for doing this, the stable point
31:57
Speaker 4: and the bills last chair this year where you're talking
32:01
Speaker 4: any of the timeline.
32:02
Speaker 8: When you set to get those work through.
32:05
Speaker 4: Congress, and then also this ride a while anything like
32:08
Speaker 4: the Arnold for instance.
32:09
Speaker 8: You and the adult fish, Well, we have to work
32:16
Speaker 8: on getting the farm bill, and we're gonna do that.
32:23
Speaker 8: The the uh, the timeway is I think one of
32:27
Speaker 8: the most important things we're doing now. With every Congress
32:29
Speaker 8: we have new members that retire, are defeated, and we
32:33
Speaker 8: have new members coming in. So we're starting that now
32:36
Speaker 8: and have started member education. And quite honestly, crypto is
32:42
Speaker 8: not the easiest thing to wrap your mind around. We
32:45
Speaker 8: not everyone comes into Congress with a good full understanding
32:49
Speaker 8: and a thorough knowledge and and so member education is
32:52
Speaker 8: what our first first goal is here and then how
32:55
Speaker 8: it times up it is uh uh I you know,
33:00
Speaker 8: I think we've shown the ability to be able to
33:03
Speaker 8: move a market structure's bill well fit twenty one as
33:07
Speaker 8: a whole out of the House in the past. I
33:09
Speaker 8: think we're probably in a really good position when we
33:13
Speaker 8: conclude our work in preparation this time around to be
33:17
Speaker 8: able to do that. So I don't see this being
33:20
Speaker 8: attached to a farm bill.
33:26
Speaker 5: I would say, if I was thinking about this a
33:28
Speaker 5: little bit, I think what we have is an opportunity
33:32
Speaker 5: to get things done. My theory is the first hundred
33:34
Speaker 5: days of a new administration is important. On the Senate side,
33:38
Speaker 5: my goal is to be as as aggressive as possible
33:42
Speaker 5: to achieve an objective of having bills through the Senate
33:46
Speaker 5: in one hundred days.
33:50
Speaker 6: Just to go back to Emily's question on this and
33:53
Speaker 6: combine it with Tomming, maybe is here's the way to
33:56
Speaker 6: think about it. We did a lot of work one
33:58
Speaker 6: hundred and eighteenth Congress in the House, so we're prepared
34:01
Speaker 6: to move forward in the House Financial Services Committee. And
34:04
Speaker 6: I won't speak for Chairman Thompson by introducing legislation or
34:08
Speaker 6: having discussion drafts of our legislation attaching those to a
34:12
Speaker 6: set of committee hearings. But it's exactly as GT points out.
34:16
Speaker 6: We have new members, We've got to do new member education,
34:18
Speaker 6: and so we have to level set here. This is
34:21
Speaker 6: why Chairman Boseman and Chairman Scott have stepped up digital
34:26
Speaker 6: assets at a subcommittee level to bring members along and
34:30
Speaker 6: do that member education here in the Senate, something that
34:33
Speaker 6: in the House we had the benefit, you know, obviously
34:36
Speaker 6: of two congresses working on that. So I think a
34:39
Speaker 6: key element now, though, is the education and technical assistance
34:44
Speaker 6: that can be provided to members both in the House
34:46
Speaker 6: and Senate from the executive branch. Now is President Trump's
34:50
Speaker 6: leadership posts are confirmed, and key among them is his
34:56
Speaker 6: AI and crypto advisor David Sachs. And David, would you
34:59
Speaker 6: want to speak to the this issue of helping members
35:02
Speaker 6: come up with speed?
35:03
Speaker 3: Yeah, I mean absolutely so, this is what we're here for.
35:06
Speaker 3: And I actually did a session even before the start
35:09
Speaker 3: of this Congress with Speaker Johnson.
35:11
Speaker 2: We did a.
35:14
Speaker 3: Great sort of open dialogue with members of the House
35:19
Speaker 3: in that case, and I think, you know, part of
35:22
Speaker 3: what we're here to do is provide resources on education.
35:26
Speaker 3: Some of them can be outside advisors, kind of luminaries
35:28
Speaker 3: in the industry, and we're talking to a lot of
35:31
Speaker 3: those people. And then you know, I'm also available anytime
35:34
Speaker 3: to talk to members about this. It can't you know,
35:36
Speaker 3: crypto can be an esoteric subject and it is good
35:41
Speaker 3: to explain it to kind of demystify it, because I
35:44
Speaker 3: think once you understand that, you know, you've kind of
35:46
Speaker 3: got the cryptocurrency itself like bitcoin, But then what really
35:50
Speaker 3: runs on our blockchains, which are just distributed ledgers. It's
35:53
Speaker 3: really a new type of decentralized computing platform, and there's
35:56
Speaker 3: a lot of things that can be built on that
35:58
Speaker 3: computing platform. In any event, we're happy here to UH
36:02
Speaker 3: to provide those resources to help explain it. UH, both
36:05
Speaker 3: on Capitol Hill and beyond. Thank you, uh Jash.
36:10
Speaker 9: For goovnto Politio, thanks for doing this.
36:13
Speaker 1: The Center agrees out of the stable coin bill today
36:17
Speaker 1: like giving them guts out there, and there's been more
36:19
Speaker 1: consensus in the.
36:20
Speaker 4: Past on stable coins as opposed to market structure.
36:22
Speaker 2: Do you plan to.
36:23
Speaker 3: Move first on stable coins and market structure?
36:27
Speaker 2: And relatively to what extent in both.
36:28
Speaker 6: Of these processes?
36:29
Speaker 5: Do you plan to.
36:30
Speaker 2: Engage Democrats versus going out along now? Do you have
36:33
Speaker 2: to try and factor?
36:34
Speaker 5: Yeah, so the bill's out. As you know, we have
36:39
Speaker 5: been working with Democrats already on the bill. You'll see
36:43
Speaker 5: UH CO sponsors will line up on both sides. Good
36:45
Speaker 5: news is that the UH bill is moving quickly.
36:49
Speaker 3: Uh.
36:49
Speaker 5: I'm I'm actually pleasantly surprised that a place where you
36:53
Speaker 5: see very little bipartisan coalition building. Uh.
36:56
Speaker 2: The members of the committee.
36:58
Speaker 5: As well as folks like Jilber and Off the committee
37:01
Speaker 5: are very anxious to have a win in this digital space,
37:05
Speaker 5: and so for the first time in a long time,
37:07
Speaker 5: there's a reason to take a deep breath and release
37:11
Speaker 5: it because the legislation moving forward very quickly is happening.
37:15
Speaker 5: Good news is they have had, as French said, a
37:17
Speaker 5: lot of time working on the legislation as well finding
37:21
Speaker 5: the places where their disagreement will be the key for
37:24
Speaker 5: us getting it to the President's desk. And that's where
37:26
Speaker 5: I think the task happens next is to take it
37:29
Speaker 5: a look at the component parts of Hagridy's stable colain bill.
37:32
Speaker 5: But that's what we're moving first is stable coins, all.
37:36
Speaker 1: Right, So this is good news because he's talking about
37:38
Speaker 1: very fast bipartisan stable coin First.
37:42
Speaker 6: To my friend GT, we're proposing that we'll essentially move
37:46
Speaker 6: the stable coins in a fit twenty one type structures.
37:49
Speaker 6: I've now answered that question two or three times on
37:52
Speaker 6: a similar track. I mean, we're going to begin that
37:54
Speaker 6: process where we left off in the one hundred and eighteenth Congress,
37:58
Speaker 6: and we worked hand in glove diligently with our colleagues
38:02
Speaker 6: on the Democratic side of the aisle in the House.
38:05
Speaker 6: Many of the ideas that are reflected in UH the
38:09
Speaker 6: Market Structure Bill and some of the stable Coins Bill
38:11
Speaker 6: reflected views from the minority party.
38:14
Speaker 2: In the House.
38:15
Speaker 6: And we'll continue to do that and you'll see that
38:17
Speaker 6: as we move forward with a set of hearings in
38:20
Speaker 6: the discussion. So I remain committed to trying to make
38:25
Speaker 6: these bills by partising success in the House, and certainly
38:29
Speaker 6: we'll cooperate with the Senators and try to be a
38:32
Speaker 6: part of any kind of educational effort here on a
38:34
Speaker 6: bipartisan base to support their efforts here in the Senate.
38:38
Speaker 8: GT I have the same commitments. I really don't have
38:41
Speaker 8: anything great.
38:44
Speaker 9: Last question, Thank you so much, Jack Shamberg or Job
38:48
Speaker 9: of Finance on camp ageal Presidents support point preserve curious
38:53
Speaker 9: what is all about the dispoint and with an indistrition
38:57
Speaker 9: you consider reading pro to.
39:04
Speaker 2: After you.
39:06
Speaker 3: So, one of the things that the President instructed us
39:08
Speaker 3: to do was to evaluate the idea for a bitcoin reserve,
39:14
Speaker 3: and so that is one of the things that's one
39:16
Speaker 3: of the first things we're going to look at as
39:17
Speaker 3: part of the internal working group in the administration, so
39:21
Speaker 3: as soon as we get all that set up. We're
39:22
Speaker 3: still waiting for some Cabinet secretaries who are on the
39:25
Speaker 3: working group to get confirmed, so we're still in the
39:27
Speaker 3: very early stages of this, but that's one of the
39:29
Speaker 3: first things we're going to look at, is the feasibility
39:32
Speaker 3: of a bitcoin reserve. I think the concept of the
39:34
Speaker 3: sovereign wealth funds a little separate, and you'd have to
39:37
Speaker 3: talk to Secretary a Loutnik or soon to be Secretary
39:40
Speaker 3: Loudnik about that.
39:42
Speaker 2: Thank you all very much.
39:48
Speaker 1: Okay, So wrapping up there on what unfortunately was a
39:53
Speaker 1: nothing burger, guys, But at the same time, I think
39:57
Speaker 1: there are some opportunities here that could be big. Remember
39:59
Speaker 1: this this is the first press conference, national global press
40:03
Speaker 1: conference for crypto ever, so that in itself, I think
40:07
Speaker 1: is a pretty big sign of what's to come. What
40:09
Speaker 1: I'm a little bit concerned about is that this is
40:12
Speaker 1: business as usual in DC, and I hope that David Sacks,
40:15
Speaker 1: if you're watching this right now, don't fall into that.
40:19
Speaker 1: You've got to be able to lead this and I
40:21
Speaker 1: think this is a factor that is going to either
40:24
Speaker 1: make or break this market in the next maybe twelve months.
40:28
Speaker 1: So this committee, though I'm not really happy with some
40:32
Speaker 1: of the selections on the committee members, I would still
40:35
Speaker 1: say that at least Sacks is the year has the
40:38
Speaker 1: year of the President. I'm a little concerned on a
40:41
Speaker 1: couple of points. One of course, is a sax statement
40:44
Speaker 1: there at the end that we're going to be looking
40:46
Speaker 1: at the strategic reserve, when Trump has promised that that
40:50
Speaker 1: was going to happen. So the fact that Trump has
40:52
Speaker 1: made a promise now that apparently is on the verge
40:56
Speaker 1: of either not going through or just going to maybe
41:01
Speaker 1: the sidelines and not being discussed about for some time.
41:03
Speaker 1: I don't know, but I know one thing. I think
41:05
Speaker 1: we're going to see a lot of pressure on David Sachs,
41:07
Speaker 1: and I would employ you guys, get out there, let
41:10
Speaker 1: him know. And he is very well known on acts
41:14
Speaker 1: out there, so let him know what your opinions are
41:16
Speaker 1: and really where and what we need to be doing
41:18
Speaker 1: in terms of just getting the process moving. And remember,
41:22
Speaker 1: I think it really boils down to a couple of things.
41:24
Speaker 1: All you have to simply say, and he kind of
41:26
Speaker 1: said this in the beginning, and that is get the
41:29
Speaker 1: sec off these innovators backs, which I think they have done,
41:32
Speaker 1: and open this up for innovation. I think if they
41:35
Speaker 1: can at least throw the market a bone on that,
41:38
Speaker 1: then we're going to see some pretty big deals.
41:41
Speaker 6: Now.
41:41
Speaker 1: The other thing is is what does this do to
41:43
Speaker 1: Bitcoin and what does this do to ethereum? Well, Bitcoin
41:46
Speaker 1: did not respond well prior to it. This is on
41:48
Speaker 1: the five minute chart. We saw bitcoin pump to around
41:51
Speaker 1: one hundred thousand, seven hundred and of course now trading
41:55
Speaker 1: in about ninety eighty four over the last half hour.
41:58
Speaker 1: So great job to the to the team out there.
42:01
Speaker 1: They were able to dump the market there for all
42:04
Speaker 1: of that, I think we're gonna take a look at
42:06
Speaker 1: the last poll. Do we want to take a look
42:07
Speaker 1: at the last poll? All right, so thanks, by the way,
42:10
Speaker 1: thanks for jumping on these poles.
42:12
Speaker 2: Guys.
42:12
Speaker 1: Let's just get so, did the pressure conference give you
42:14
Speaker 1: a hope for crypto Crypto's future in the US? Forty
42:18
Speaker 1: seven percent of you guys say yes. So interesting that
42:22
Speaker 1: half of you said yes. A lot of people still
42:24
Speaker 1: said no opinion, which I saw a lot of people
42:27
Speaker 1: on no opinion. Listen, there are these are big times ahead.
42:31
Speaker 1: This is February and we are very early in the year.
42:35
Speaker 1: I think we will see and continue to see some
42:38
Speaker 1: innovation coming out of DC, hopefully with some pressure, because
42:41
Speaker 1: I think there's a little bit of pressure on Trump
42:44
Speaker 1: and on Sacks. They watch what's happening out there in
42:47
Speaker 1: these podcasts shows like ours, they watch what's happening on
42:51
Speaker 1: acts out there in social media. Get loud.
42:54
Speaker 2: That's all you have to do.
42:55
Speaker 1: Get loud, show your displeasure on being able to at
42:58
Speaker 1: least show for it appears that this is just a
43:03
Speaker 1: meeting to have a meeting, and that's not something we
43:05
Speaker 1: need for innovation going to the next level. And the
43:10
Speaker 1: other thing is where are all the innovators. I mean,
43:12
Speaker 1: we've been able to talk to several people in Congress
43:17
Speaker 1: that are very cryptosavvy, very well versed in this category,
43:21
Speaker 1: and why are they not on this committee. I just
43:26
Speaker 1: that's one part I do not understand. Other than the
43:28
Speaker 1: French yell, I will say French Tim Scott, I would
43:30
Speaker 1: say this was probably a favor to Donald Trump by Sacks.
43:35
Speaker 1: There are some things there, and you know, I'm sorry, guys,
43:38
Speaker 1: I'm just going to give it to you straight that
43:39
Speaker 1: needs to change. I think you need some new committee members.
43:42
Speaker 1: Mister Sackson. You got to get it going because this
43:45
Speaker 1: is a very important year. It's a very important time
43:47
Speaker 1: for crypto and it's an important time I think for
43:49
Speaker 1: the innovators because the innovators have to have confidence that
43:53
Speaker 1: you guys are going to bring it, and I think
43:55
Speaker 1: that's something that the DC has to do. All right,
43:59
Speaker 1: you guys, thanks for coming in today.
44:00
Speaker 2: We appreciate it. Of course.
44:02
Speaker 1: If you have not subscribed to that, now get in
44:04
Speaker 1: on the Diamond circle. It's our custom group. I also
44:06
Speaker 1: have a telegram group that I am in active every day.
44:09
Speaker 1: If you guys want to chat, happen to do that.
44:12
Speaker 1: There's a link down below and follow me out there
44:14
Speaker 1: on x at Paul Baron. We'll catch you next time
44:16
Speaker 1: right here on tech Path.