Latest / The Paul Barron Crypto Show / Crypto Bills Passing Today!🔥XRP Skyrockets
Transcript
- 0:06Speaker 1: We are definitely on a cliffhanger today as Washington ways
- 0:09Speaker 1: in the balance around how it's going to be voting
- 0:12Speaker 1: on all these crypto bills today. We'll break it down
- 0:13Speaker 1: for you. My name is Spoelberner. Welcome back into the show.
- 0:15Speaker 1: Let's get into it. I do want to thank our sponsor,
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- 0:57Speaker 1: let's go over to a couple of points. I want
- 0:59Speaker 1: to lead off here with Eleanor Terrence, and she's kind
- 1:02Speaker 1: of hitting on all the points of where Crypto Week
- 1:05Speaker 1: is right now. It's resuming with big votes expected in
- 1:07Speaker 1: the House, including on the Genius Act, and this could
- 1:10Speaker 1: pass and head to the President's desk immediately. So remember
- 1:14Speaker 1: this signing ceremony is schedule for tomorrow at the White House.
- 1:16Speaker 1: So whether this is all which I anticipate tomorrow, we're
- 1:19Speaker 1: going to get the Genius Act for sure. But in
- 1:21Speaker 1: the Senate you've got Tim Scott who's hosting a banking
- 1:24Speaker 1: GOP member roundtable. And if you look at some of
- 1:28Speaker 1: the people that are involved in this one, guess what,
- 1:30Speaker 1: there's a lot of Cardona people. Interesting that Cardono has
- 1:34Speaker 1: made their way into Capitol here, So let me know
- 1:37Speaker 1: in the comments, what do you think that's going to do.
- 1:39Speaker 2: Let's take another.
- 1:40Speaker 1: Look right here. If you look at the history here
- 1:42Speaker 1: with the vote of past two seventeen to twelve, we
- 1:45Speaker 1: can assume it on that House has now advanced the
- 1:48Speaker 1: rules setting up for the floor votes on Crypto. This
- 1:50Speaker 1: is all means that we're getting ready to go to
- 1:51Speaker 1: the real vote. So when all a said and done,
- 1:53Speaker 1: Crypto was the reason the House broke the record for
- 1:56Speaker 1: the longest vote in history, nearly ten hours long. All
- 1:59Speaker 1: the that happening now with the final procedure vote passed
- 2:03Speaker 1: and a promised that the anti CBDC language, because remember
- 2:07Speaker 1: that was the hang up, will be included in the
- 2:09Speaker 1: NDAA defense bill. This could move everything forward and possibly
- 2:14Speaker 1: the Clarity Act. This is the one that's pretty important, guys.
- 2:18Speaker 1: This will start to move almost everything in crypto, I
- 2:21Speaker 1: think in terms of how the market will respond, and
- 2:24Speaker 1: I'll get to that in a second. Further into this,
- 2:27Speaker 1: when you look at the Clarity and the Genius and
- 2:30Speaker 1: the anti CBDC language which is attached in this defense
- 2:34Speaker 1: spending bill, the vote is still open. And remember this
- 2:38Speaker 1: is just a vote on the rule, not the final
- 2:40Speaker 1: vote in the bills themselves. So that's why the Genius
- 2:42Speaker 1: won't come up until tomorrow. And that's the important day.
- 2:45Speaker 1: So if you're watching this before Friday, Friday is the
- 2:49Speaker 1: day everybody's watching right now, so keep a close eye
- 2:52Speaker 1: on DC. President Trump says the Genius Act will be
- 2:55Speaker 1: passed two day after speaking with all hatouts holdouts. Today
- 2:59Speaker 1: Bloomberg is reporting on this. I think he means passed
- 3:03Speaker 1: and then him to sign maybe tomorrow. But it's really
- 3:05Speaker 1: going to be tomorrow, I think when the vote actually occurs.
- 3:07Speaker 1: I want to go to a clip real quick, and
- 3:09Speaker 1: this clip is cnb C talking about how many Dems
- 3:13Speaker 1: are on board to make all this come true.
- 3:16Speaker 3: Take a look. Nothing's perfect. There are things that I
- 3:18Speaker 3: would like to have gotten in here, but I've learned
- 3:20Speaker 3: a long time ago. I'd rather get progress, get something done.
- 3:23Speaker 3: We'll come back and do more versus doing nothing because
- 3:25Speaker 3: you can't get everything you want. And listen the Freedom Caucus,
- 3:28Speaker 3: the far right extremists, that's what they always do, right.
- 3:30Speaker 3: They were looking for anything that they didn't love about
- 3:32Speaker 3: this bill and trying to stop it.
- 3:34Speaker 4: How many Democrats are on board with this? You can
- 3:36Speaker 4: point to the Freedom Caucus, but you know there's a
- 3:39Speaker 4: huge number of Democrats that will not support this.
- 3:43Speaker 3: On the Genius Act, I think you'll get numbers over
- 3:46Speaker 3: seventy or so, and you know see what the final
- 3:48Speaker 3: tally is again, you'll have a couple dozen or more
- 3:51Speaker 3: on the Clarity Act. So those are very strong bipartisan numbers,
- 3:56Speaker 3: especially as you know right now in this environment where
- 3:59Speaker 3: by part arsonship is tougher and getting people on board
- 4:02Speaker 3: on these things no matter what is tough. But this
- 4:05Speaker 3: is going to be seen as as two great bipartisan
- 4:08Speaker 3: products that move over. One will go to the President's desk.
- 4:11Speaker 3: One will the Clarity Act will go to the Senate,
- 4:14Speaker 3: and we'll continue to work on that and hopefully get
- 4:16Speaker 3: that done this year.
- 4:18Speaker 1: That's a big deal. I think when you look at
- 4:20Speaker 1: if we can push the Clarity Act over to the Senate,
- 4:22Speaker 1: that will start to put things in play. And the
- 4:25Speaker 1: President coming in with the Genius Act, of course that
- 4:27Speaker 1: being stable coins, this I think all moves the market
- 4:30Speaker 1: in the right direction. Now, of course, we do have
- 4:32Speaker 1: one person that looks at it differently, and that's Elizabeth Warren.
- 4:36Speaker 1: I've got to clip her of her saying what kind
- 4:39Speaker 1: of impact she thinks this market is going to get
- 4:42Speaker 1: with all this happening, take.
- 4:43Speaker 5: A look guard rails to make sure that crypto as
- 4:46Speaker 5: it is to blow up our entire economy. So I'm
- 4:50Speaker 5: very worried about that. But I want to add one
- 4:52Speaker 5: more twist, and that is the Clarity Bill has all
- 4:56Speaker 5: those problems, but it also has a provision in it
- 5:00Speaker 5: that would let any company listed on the New York
- 5:04Speaker 5: Stock Exchange opt out of SEC regulation by just digitizing themselves,
- 5:11Speaker 5: put themselves on the blockchain, and all of a sudden
- 5:15Speaker 5: it turns out that Amazon or Meta or General Motors
- 5:21Speaker 5: is no longer governed by the SEC You do realize
- 5:26Speaker 5: that literally would blow up the value of the New
- 5:32Speaker 5: York Stock Exchange.
- 5:34Speaker 1: That whole all right, Well, the good thing is is
- 5:37Speaker 1: that Warren is absolutely wrong. There, so good that that's
- 5:40Speaker 1: not going to happen. So don't worry about that again.
- 5:43Speaker 1: I think she needs to get her fact straight. The
- 5:45Speaker 1: other thing I want to get into is what is
- 5:47Speaker 1: more important because obviously stable coins everybody's been leaning in
- 5:50Speaker 1: on that. This changes the banking infrastructure will start to
- 5:53Speaker 1: see payments, e commerce, all things affected. And also the
- 5:57Speaker 1: US dollar plays into this because now the be available
- 6:00Speaker 1: pretty much anywhere via a stable coin. Take a look
- 6:04Speaker 1: at this clip because this gets into should it be
- 6:06Speaker 1: the priority?
- 6:07Speaker 2: Take a look.
- 6:08Speaker 4: I think, to be honest, this is a bit of
- 6:10Speaker 4: a failure on the industry's part to play this the
- 6:13Speaker 4: correct way. Politically, I think it was a mistake to
- 6:15Speaker 4: have all three of these bills voted on at the
- 6:17Speaker 4: same time, as opposed to starting with the Genius Act,
- 6:20Speaker 4: which is a sort of important must pass and what
- 6:23Speaker 4: should be uncontroversial bill to provide a regulatory framework for
- 6:27Speaker 4: stable coins. And then I think it's a it's a
- 6:29Speaker 4: failure to educate some of the key folks involved. But
- 6:32Speaker 4: I think that the future of crypto legislation really does
- 6:35Speaker 4: sort of hang on whether we are able to get
- 6:38Speaker 4: the Genius Act specifically passed into law or not. If
- 6:41Speaker 4: we do so, I think that will provide momentum for
- 6:43Speaker 4: future legislative efforts. And I think if that doesn't happen,
- 6:46Speaker 4: it's going to be very hard to convince House leadership
- 6:50Speaker 4: to take up crypto legislation in the future. So I
- 6:53Speaker 4: really do think, you know, the Genius Act for the
- 6:55Speaker 4: industry is a must pass bill if we're going to
- 6:57Speaker 4: move forward with any of our legislative priorities.
- 7:01Speaker 1: So interesting statements there. I think the point he was
- 7:03Speaker 1: getting at is obviously the Genius Act very important on
- 7:07Speaker 1: being able to move crypto forward as a whole. But
- 7:10Speaker 1: I don't know that the industry, meaning the crypto industry,
- 7:13Speaker 1: had anything in terms of a guidance, because trying to
- 7:18Speaker 1: guide what's happening in Capitol Hill is almost impossible. What
- 7:21Speaker 1: you can do is influence and then Congress will start
- 7:25Speaker 1: to move this into play. It's really on Congress trying
- 7:28Speaker 1: to get this through, and in many cases they do
- 7:30Speaker 1: it for a variety of different kinds of reasons, lobby reasons,
- 7:34Speaker 1: finance reasons, reasons for them to just be able to
- 7:36Speaker 1: exit and move on to other bills. There's a lot
- 7:38Speaker 1: of that going on. So we have to kind of
- 7:40Speaker 1: get out from behind the ideas that this is all
- 7:43Speaker 1: that's happening in DC right now. That's the one thing
- 7:47Speaker 1: that I think what he was trying to say is
- 7:48Speaker 1: that clarity and genius coming together at one time. Maybe
- 7:52Speaker 1: it's just an issue where Congress is trying to wrap
- 7:55Speaker 1: all this stuff up and abide by what President Trump
- 7:58Speaker 1: has been pushing, which is August deadline. So that's the
- 8:01Speaker 1: other thing that is going in place right now with
- 8:04Speaker 1: all this happening, though, there's a couple of points that
- 8:06Speaker 1: are going on that I think a lot of people
- 8:09Speaker 1: are missing here. This is Robbie Ferguson from Immutable, and
- 8:12Speaker 1: he's hitting on a very interesting statement here. What he
- 8:15Speaker 1: says is Immutable's partner with three multi billion dollar studios
- 8:18Speaker 1: and all together closely watching keywords here regulatory landscape, in
- 8:23Speaker 1: the US to guide decision making. So think about this
- 8:28Speaker 1: right now, there are if they're partner with three billion
- 8:31Speaker 1: dollar companies, multi billion dollar companies. Imagine the amount of
- 8:35Speaker 1: partnerships that are out there in crypto land right now
- 8:39Speaker 1: that are all watching on what's happening in the next
- 8:42Speaker 1: few days in DC. That is huge because it tells
- 8:46Speaker 1: you that the Clarity Act could have much more global
- 8:51Speaker 1: impact than maybe a lot of people are even anticipating.
- 8:54Speaker 1: So watch out for that going forward. Other things, of course,
- 8:59Speaker 1: you've got a might immersion technology BM and R purchasing
- 9:02Speaker 1: another one hundred and thirty seven thousand in ETH. This
- 9:04Speaker 1: is overtaking Sharplink Gaming to become the number one holder,
- 9:08Speaker 1: and it's kind of been back and forth between these
- 9:10Speaker 1: two right now. When it comes to ETH reserve companies
- 9:14Speaker 1: with BM and R, obviously that's Tom Lee and a
- 9:16Speaker 1: fun Strat. So you guys have seen that sharp link.
- 9:19Speaker 1: Of course, en route to our first stop, which is
- 9:22Speaker 1: one million eighth is what they're trying to get to.
- 9:24Speaker 1: So they continue to do a good job on promoting
- 9:28Speaker 1: this and for many people, I think this is something
- 9:31Speaker 1: that if you're brand new to our show, you're probably
- 9:33Speaker 1: trying to figure out what's an eath treasury company. Basically,
- 9:35Speaker 1: it's a publicly traded company that has started to purchase Ethereum,
- 9:39Speaker 1: put it on their sheets, their balance sheets, in their
- 9:43Speaker 1: basically in their value proposition to the market. Some cases
- 9:47Speaker 1: some companies also offer other services, but some cases they're
- 9:51Speaker 1: just holding it, much like what master Being strategy does
- 9:55Speaker 1: for Bitcoin. And this is something that has continued to
- 9:59Speaker 1: get very very popular on Wall Street. Question is will
- 10:02Speaker 1: it be popular enough to continue the curve going forward? Well,
- 10:07Speaker 1: some people think it is. Here's optimism jumping in on this.
- 10:09Speaker 1: The Foundation is now officially launching and joining the Strategic
- 10:13Speaker 1: Ether Reserve concept and they're putting in their eighteen thousand
- 10:16Speaker 1: eight in treasury. And of course this just starts to
- 10:19Speaker 1: pile in more companies that will be getting into these
- 10:22Speaker 1: strategic eth reserves. There's the list right there, bit Mine,
- 10:25Speaker 1: Immersion Tech, that's bm and R, that's the ticker right there,
- 10:28Speaker 1: There's as BET, and of course the Ethereum Foundation now
- 10:31Speaker 1: number three, two ahead of it. Overall, keep an eye
- 10:36Speaker 1: on this MNAV right here, because this is the thing
- 10:38Speaker 1: that everybody is concerned about. And I just had a
- 10:41Speaker 1: guest on today that is concerned that these could blow up.
- 10:45Speaker 1: So when you're investing in these guys, just remember these
- 10:49Speaker 1: are highly, highly risky moves. The key here is making
- 10:53Speaker 1: sure that MNAV is as close to the value of
- 10:56Speaker 1: that project or that company as possible. Things I want
- 11:00Speaker 1: to hit on right here. President Trump claims that the
- 11:02Speaker 1: FED Chair Pal is already under investigation. It's unclear exactly
- 11:06Speaker 1: what the investigation is for. So now we have a
- 11:09Speaker 1: pseudo investigation that supposedly is happening around Chair Pale. I
- 11:15Speaker 1: don't know if there's being more, if they're ramping up
- 11:17Speaker 1: the pressure because of something that the White House is
- 11:19Speaker 1: expecting economically, or if this is just something that has
- 11:23Speaker 1: been working its way through the White House and eventually
- 11:27Speaker 1: starts to move into this position. And I think this
- 11:29Speaker 1: is getting very very sketchy because I think there's two
- 11:33Speaker 1: things that this could play out. But first of all,
- 11:35Speaker 1: I'm not a big fan of chair Pal. He's holding
- 11:38Speaker 1: up what I think should be right cuts. Yes, I
- 11:40Speaker 1: agree with that why he's doing that, Yes, I think
- 11:42Speaker 1: it's political, but at the point of being able to
- 11:45Speaker 1: circumvent what the FED can do by putting him an
- 11:47Speaker 1: investigation unless he's really done something wrong. Why is that
- 11:50Speaker 1: this seems like just a political Ponzi move on the
- 11:53Speaker 1: White House? Right now, here's a clip that kind of
- 11:56Speaker 1: talks about this and what this might look like in
- 11:59Speaker 1: terms of a transition between chairs. Take a look.
- 12:02Speaker 2: So this is about the administration trying to put more
- 12:05Speaker 2: pressure on the FED and really win not in a
- 12:07Speaker 2: court of law, but in a court of public opinion.
- 12:10Speaker 2: Is this the worst you think it's been or it's
- 12:13Speaker 2: the worst in our you know, kind of modern experience.
- 12:16Speaker 2: I think the other point here is that we are
- 12:18Speaker 2: going to have the most unusual FED transition ever, you know,
- 12:22Speaker 2: since at least the Vulgar one, because in eighty seven,
- 12:25Speaker 2: you know, Vulcar to greenspan in six, when Bernanki came
- 12:28Speaker 2: in yelling in twenty fourteen, pall they all pledged continuity
- 12:32Speaker 2: with their predecessor. They said, I'm going to step into
- 12:35Speaker 2: the shoes and my predecessor. I'm going to try to
- 12:37Speaker 2: be the same FED. And now we have people who
- 12:39Speaker 2: are running for the job who are saying I'm going
- 12:41Speaker 2: to be completely different.
- 12:42Speaker 1: You make it the argument that actually the independence of
- 12:44Speaker 1: the FED is already over.
- 12:46Speaker 2: So it's obviously what the President's doing here is putting
- 12:49Speaker 2: the next FED chair in a very difficult position. Right,
- 12:52Speaker 2: They're going to have to prove to the market that
- 12:54Speaker 2: they're not what everybody thinks they are. But you still
- 12:57Speaker 2: have eleven other people who are going to go on
- 12:58Speaker 2: a monetary policy. So I think think the risk here
- 13:00Speaker 2: is that, you know, Jeb Bush said you have to
- 13:03Speaker 2: lose the primary to win the general. You may have
- 13:05Speaker 2: to win the chair and lose the committee and you
- 13:07Speaker 2: become a chair and name only if you push this
- 13:09Speaker 2: two hearts? Is there anyone in the world that could
- 13:13Speaker 2: do the right thing a year before it happens. This
- 13:16Speaker 2: is all about making the mistake that's easier to fix,
- 13:20Speaker 2: right That's you know, that's one way to think about
- 13:22Speaker 2: our esponishment. Are you going to get off sides? If
- 13:24Speaker 2: you think you're going to get off side, you just
- 13:26Speaker 2: want to make sure that you don't have to jump
- 13:28Speaker 2: too far back.
- 13:29Speaker 1: Yeah, I would agree with that, Just you know, make
- 13:32Speaker 1: if you are going to make mistakes, it's got to
- 13:33Speaker 1: be the one that's easiest to fix. One other thing
- 13:36Speaker 1: that is happening right now in the market that was
- 13:37Speaker 1: a little surprised in me, and this is of course,
- 13:39Speaker 1: Senator Lamas talking about this, she's alarmed by reports that
- 13:42Speaker 1: the US is sold off or lost we don't know which,
- 13:46Speaker 1: over eighty percent of its bitcoin reserves, leaving just twenty
- 13:49Speaker 1: nine thousand coins. So if this is true, this would
- 13:52Speaker 1: be a big mess up by the US, especially at
- 13:56Speaker 1: the pace in which we're going into what could be
- 13:59Speaker 1: a digital asset race globally overall. So not a good
- 14:04Speaker 1: move and not a good look right now. Other news out,
- 14:07Speaker 1: I've put a tweet out on this XRP sort of
- 14:09Speaker 1: about above one hundred and ninety billion in market cap
- 14:12Speaker 1: for the first time ever. This is again going into
- 14:14Speaker 1: rapid adoption obviously across with cross border payments and potential
- 14:19Speaker 1: growing financial institutions coming in and gaining more confidence around
- 14:23Speaker 1: Ripple's technology. All right, so let's jump to the chart
- 14:26Speaker 1: real quick, and you can kind of see there's Bitcoin
- 14:28Speaker 1: moving ether of course, continuing to move on its way
- 14:32Speaker 1: to thirty five hundred could happen very quickly. And then
- 14:35Speaker 1: of course here is XRP, which is pushing now at
- 14:37Speaker 1: three point thirty four amazing. As we are breaking this down,
- 14:42Speaker 1: this is this, This chart just continues to surprise me.
- 14:45Speaker 1: I think a lot of the people of the XRP
- 14:47Speaker 1: Army love what they're seeing right now. Make sure and
- 14:50Speaker 1: of course drops some comments down below on some of
- 14:53Speaker 1: the tokens you're watching right now. With all of this
- 14:55Speaker 1: happening in DC as we are, what is it that
- 14:59Speaker 1: would be your next Where are you potentially trying to
- 15:02Speaker 1: set up an insertion? Because if we get a clarity
- 15:04Speaker 1: act through, guys, you're going to see some explosions coming
- 15:08Speaker 1: into the market for sure. Let's go over to one
- 15:11Speaker 1: last tweet here I want to show, and this is
- 15:13Speaker 1: Raoul Powell. Now Raul gives some really good advice here
- 15:16Speaker 1: that I want to He's been on the show before.
- 15:18Speaker 1: I think we're going to have him back soon. What
- 15:20Speaker 1: he says here is follow him first of all, go
- 15:22Speaker 1: out there on x just Raul GMI. He says, what
- 15:26Speaker 1: you want to look at with these kinds of situations
- 15:29Speaker 1: right now that we're facing is the conviction, what conviction
- 15:32Speaker 1: around the token of the project that you guys believe in,
- 15:35Speaker 1: so it's going to outperform, whether it outperforms Soul, e Bitcoin, whatever,
- 15:39Speaker 1: whatever it needs to do. The key is is do
- 15:41Speaker 1: you believe in what they're doing? And if you're doing
- 15:44Speaker 1: the research, which if you're watching our show, you are
- 15:47Speaker 1: doing the research. You should be taking that time right
- 15:51Speaker 1: now to really understand the projects you're investing in. You
- 15:54Speaker 1: probably do this on a publicly traded stock. I assume
- 15:57Speaker 1: you'd probably do this on almost any financial investment there.
- 16:00Speaker 1: Do not follow the people that just say, go vest
- 16:04Speaker 1: you know this is flying, go invest in that. You
- 16:06Speaker 1: want to get in on something that you understand. Maybe
- 16:09Speaker 1: you don't understand the tech to you know, down to
- 16:11Speaker 1: the macro level, but you understand the goal of what
- 16:15Speaker 1: that project is all about. And I think that's important.
- 16:18Speaker 2: If you look at his.
- 16:19Speaker 1: Bags right now, he's going in with Suite eth via
- 16:23Speaker 1: some NFTs and then a smattering of other including XRP, doge, SCF, Bitcoin, Soul,
- 16:27Speaker 1: you can kind of see, and he puts these out there.
- 16:30Speaker 3: He's very public.
- 16:30Speaker 1: I know he sets on I think he's an advisor
- 16:33Speaker 1: with the Sweet network, but he puts that stuff out there,
- 16:36Speaker 1: and you should be looking at you know, how people
- 16:39Speaker 1: like Raoul, even myself, how we make these moves. But
- 16:42Speaker 1: you should not follow us. You should kind of follow
- 16:44Speaker 1: in your own lane. Bitcoin Eth, Solana, you know XRP,
- 16:49Speaker 1: those are the top market caps. Those are easy plays,
- 16:52Speaker 1: but they're not going to be massive gains from where
- 16:55Speaker 1: you are right now in the market. So think about
- 16:57Speaker 1: all those kind of things as you put your strategy
- 16:59Speaker 1: together going into crypto. If you guys are not part
- 17:02Speaker 1: of the Diamond Circle, get in and do that. It
- 17:04Speaker 1: is our own free group and we always leave a
- 17:07Speaker 1: link down in the bottom. Use that and jump in.
- 17:11Speaker 1: We send out an email. We'll give you guys updates
- 17:12Speaker 1: and additional information. Sometimes we drop more research in there.
- 17:16Speaker 1: We just dropped a big research treasure trove in there
- 17:18Speaker 1: last week from our djned list, So make sure and
- 17:22Speaker 1: click that. Follow me out there on X at Paul Baron.
- 17:24Speaker 1: We'll catch you next time right here on The Paul
- 17:26Speaker 1: Baron Show.