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Gary Gensler Resigning After Biden!?🚨Ethereum ETF Launching Tomorrow🚀 · The Paul Barron Crypto Show

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Breaking news that could affect the crypto market in a huge way. Today we'll
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be breaking that down, along with the eth ETF and a handful of other
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things that could guide the market's future very easily. My name is Paul Barre.
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Welcome back in the tech path. Before we get started, I want
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It will help the channel. We appreciate it. All right, Let's
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go into a couple of topics today. The biggest one, of course,
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is mister Joe Biden, the President has decided to go ahead and step down
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and sees his reelection bid. This was of course, came out last night
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on Sunday evening. We saw our afternoon yesterday. Interesting point was this did
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come in directly on Twitter on X and didn't really go into a lot of
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detail other than hey, I just feel like this is the we want to
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kind of unify our our party and we're going to move forward now. Immediately,
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he did not endorse Kamla on this particular. I'm sure that was a
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phased approach. But a little bit later he came out and of course endorsed
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Kamala Harris, and that will be most likely the tickethead. We'll see if
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that holds true. It still may be a contested convention over at the DNC,
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so you'll see some things happening right there. I've decided not to accept
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the nomination. My very first decision as the party nominee was to pick Kamala
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Harris for vice president. Been my decision I've made today offer my full support
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and endorsement to Kamala and the nominee of our party this year. So there
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you have it, guys. Here's that's the interesting point. We don't really
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know a lot about Kamala Harris's crypto position. We'll talk about that in a
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minute, because this will get into and could sway a lot of voters,
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at least on the Democratic side that have been looking to vote for Trump just
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because of their single issue situation. And that is all about crypto. Give
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me a better regulatory environment and get crypto more on the advance front here in
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the United States. If you look at what polymarket is saying right here,
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the election winner right now still holding as sixty five percent, but Kamala Harris
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is definitely coming in at number two right now at thirty percent, so we'll
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see. And of course there's some other people coming in there too, including
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Michelle Obama, first time on the list there, coming up over single digits.
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So interesting stuff. This DNC is going to be interesting here. Another
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big move over the weekend and toward the end of last week, Elon Musk
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added laser eyes to his ex portfolio or his ex profile picture. I don't
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know if this and you'll notice this is it may be something to do with
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the design of how he put it out, because I don't know that he
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is fully plugged into this, but usually blue eyes means ethereum. But this
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also could tie into the Bitcoin conference that's happening this week. There's a lot
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of things kind of funneling around what Elon is up to, but it is
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a very intriguing move on the richest man in the world and one of the
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richest men in the world around crypto what that might mean going forward, So
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things could get a little crazy. All right, here's the biggest news of
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the day, and this is Gary Gensler will likely resign in twenty twenty five
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after the Biden exit. This isn't initially a point that the Republicans would win
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the White House, but it does allude to the fact that typically when administration
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changes happen, that these exits occur. A couple of points within the article
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thelan let me kind of zoom in on that for you guys. Thelen said
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that the SEC chair to Piclar resigns when a new administration enters the White House,
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so that could be it. Of course, a Trump ticket would spell
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disaster for Gensler. The other thing that you have to look at is Jade
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Vance. He has been on record slamming Gensler as the worst person to regulate
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crypto assets, so that in itself might have had a little bit of influence
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on Gary Gensler when the VP of course selection came out last week. So
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a lot of things playing into this, I think as we watch this play
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out for Gensler's future. Trump is also making a surprise announcement at the UpCoin
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upcoming Bitcoin conference in Nashville. Many people have looked at this as possibly a
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reserve strategy with use of bitcoin. There's a lot of rumors going around on
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that, so we'll be watching that very closely. We will bring you reporting
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on the Bitcoin conference the best we can. Speculation is high that it will
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announce the strategic preserve asset, which could trigger a parabolic price, of course,
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in the bitcoin price. With that, you also have to look at
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what happened with bitcoin over the weekend. Will show some charts here in a
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second. Couple other points I want to hit on right here. The SEC
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closed meeting this week. Remember the settlement potentially with Ripple is about to happen,
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and if that occurs, this would be the perfect time for Gensler to
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get out of dodge because this is an opportunity I think for him to still
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feel like there is a sliver of a win opportunity here and say face with
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his next career selection in Senator Warren's office, So we'll see how that goes.
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SEC Commissioner Pierce Hester Pearce suggests ethereum ets may soon allow staking and when
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you look at some of the interviews that she's been doing, very active.
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So are we seeing maybe the next you know, SEC commissioner coming to reality
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right in front of our eyes. We'll see. This was a recent interview
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where she was talking about Ethereum exchange traded funds following their anticipated launch in twenty
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or July twenty three. Couple of points to make note of. If Gensler
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were to make it all the way through his tenure, which is still set
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for I think five years, he goes up to six hundred and eighty two
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days away. But based on what we know now and when the next administration
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could change, even if it were the democratic administration, could it still inflect
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a change on the SEC that changes things pretty dramatically. It's the red color
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there, maybe the red waves coming. We'll see one hundred and sixty one
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days in five and he can do this any day. Of course, you
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know, we don't know, but this could happen any but this would be
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the most possibly that it could extend out to if a resignation is in the
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cards, other things happening out there. Bitcoin could see a potential breakout ahead
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of the US elections. There's many things that people are looking at around a
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breakout for bitcoin. One of them on this is based on volatility risk assets.
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Trends will start with the obviously we saw with Trump's assassination attempt, also
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with Biden's recent decision now to step down and endorsing Kamala Harris, so very
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erratic movements. We'll see I think a lot more playing into that. We
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saw a Salona, you know, skyrocket. Over the weekend, we saw
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Avalanche skyrocket. There was a lot of moves on the market, including seeing
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a sixty eight thousand dollars bitcoin. So it is ahead of us, guys.
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We are really going to be I think moving into a very interesting time.
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I want to go to Tom Lee. This is an analyst that's been
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very bullish on crypto in general, but he goes a little bit further into
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other things, and I'll explain this and why it relates to crypto. Take
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a look. What's more important to you? Do you think? You know?
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In the short term, it's the political news, but really in the
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longer term, especially into your end. It's actually the economic news. Markets
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are very sensitive to, especially the sector level, depending on whether it's a
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Republican or Democratic taking the White House November and then especially all the congressional elections
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and state elections. So I think that's what you saw last week is as
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it shifts as probably shifted towards Trump, small caps, industrials, financials rally.
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The overlap is small caps are very sensitive to a FED cut and really
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the probability of a feed cut. You know that it's finally happening, and
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I think it's going to look like the October to December twenty twenty three rally,
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which was almost thirty percent. This one should be bigger because of the
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amount of short positioning and the amount of oversold in the rustle. So yeah,
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forty percent by the end of the summer. I just want to dig
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into it. Does it make sense that tech that Nvidia and Tesla one,
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Microsoft and Apple and Meta should be outperforming as the odds rise for a Democratic
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victory. Some of that it's in a day to day it could be noise
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because last week you had the biggest down week for the Nasdaq in quite a
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long time, so I think there is a bit of a dead cat bounce.
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But to me, I agree with you. I don't think that the
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fangs are necessarily a Kamala Harris, you know, taking the White House trade?
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All right. So there you have it, small caps potentially coming in
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with an inflow of nine point nine billion, second largest inflow in history.
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If you look at small caps out there, now, why does this matter
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on crypto? If you think about small caps in the S and P,
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then you have to kind of consider small caps being on risk assets the all
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coin trade, and this could be really why we're starting to see so much
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all coin movement over the last week to ten days. The question here is
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can this extend into the strategy into November? And of course, what will
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that look like post November depending on which camp wins the White House? A
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lot of things I think are really dependent upon two scenarios. One of course,
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is how Trump can respond to a win and what that might look like
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for the S and P. Is that's going to change things from a Wall
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Street perspective, That's one thing, because we already know his position on crypto.
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And then the other side of it would be the Kamala Harris campaign and
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what she is doing in reference to how she presents on blockchain and crypto,
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because she hasn't really put out a position on this, so that itself could
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play into positive maybe for the Democrats. So a lot of things pushing in
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on this digital chamber. Now, of course we just had Perry in on
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last week, but she's pushing for VP Harris urging to take a forward looking
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approach toward digital assets. The letter calls on her to include pro crypto language
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in the dem Party platform. This would be a massive move that I think
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could sway a lot of voters into the Democratic Party if in fact they had
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a strategy that was serious. Number one and number two had significant positions of
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people that actually know what they're doing. Because if we're getting just bureaucrats that
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are not necessarily understanding of where this is going, that, I think they
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have to do it a little bit bigger, you know, more so than
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what we've seen out of the Republicans far, because the Republicans have mostly been
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the ones pushing regulation, pushing what we've seen in DC over the last year
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and a half. Other things of course happening right here expecting today for the
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ethtfs, we expect them to begin trading tomorrow, means we should see a
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bunch of filings on the SEC late today, likely after or around market close.
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This is who is in the race right now. Remember a lot of
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starting fees right now at zero. Everybody kind of pushing down to zero,
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including Ethereum or excuse me, the Fidelity Ethereum Fund, which I think is
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going to be the winner here on at least the interim. We could see
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some movement here with others, but very interesting that Grayscale has now pushed into
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zero fee. So you got Vaneck coming in at zero, Franklin zero,
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pretty much everybody starting out at zero fees with their post waiver fees accelerating later.
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All right, That of course means what does ethereum do. Does it
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explode or does it do the Bitcoin scenario where we see a little bit of
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a run up and then a fall off. Many people would argue that Ethereum
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has not had the run up. This was something that Matt Hogan talked about
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last week. Is it has not had the run up that Bitcoin had prior
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to its etf and that that is telling a lot because of the strategy that
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we've seen in locked up ethereum, available ethereum, and then just the potential
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for ethereum to actually see a post ETF run. So there's some things here.
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A couple of points in this article. ETH ETF whales have positioned themselves
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to benefit from the US spot ETF speculation. A couple of them here,
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about t one hundred and twenty two million have been moved to centralized exchanges.
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Some people could be looking for an exit. Sure, could happen another eighty
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nine million. This can kinds of breaks it down to the eighty nine million
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over on binance and on okax, and then you've got during early London trading.
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This was on twenty second, another whale transferred another thirty three point six
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million over to Coinbase. Doesn't mean that much really, This is not a
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lot of money in the grand scope of what's going to happen on the ETF
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and more important, what's going to happen on ethereum as a whole. But
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it is something to keep your eye on for sure. Depending the ETH whale
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dump, the overall amount of ether held by exchanges was still very negative.
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That's the one thing you have to be looking at is the availability, and
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this is something that's not going to change very easily, so that in itself
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will most likely pump the price, or at least when you look at it
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here. All right, So if you guys, remember this is what I'm
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talking about. This is the bitcoin chart on the Bitcoin etf launch day,
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which was January the tenth, and if you look at the move down on
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the day of launch, and you look at over that week and period of
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time, Bitcoin retraced down around fifteen percent. Now granted that was just in
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a very short period of time between the tenth and the twenty third of January,
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so about two weeks. And when you look at that and then compare
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that to its run up which started right there around January the twenty fourth or
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twenty third, and even before it broke out, we were up almost thirty
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two percent. Pretty good move, which is really what I think could happen
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to ethereum. The only difference is, I don't know that we see this
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a little bit of downtrip here. If you look since the actual filing,
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I mean running out at sixty seven right there, you're holding at forty four
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percent still on this. So if Ethereum gets any kind of run up like
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this, that would be a massive move for ethereum overall. Looking at Ethereum
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right now, you would think we would continue to see a little bit of
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movement, but not necessarily been the case on ethereum as we've seen things happening
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right here on the run up slightly holding its position right now around thirty five
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hundred, So this is kind of where it's been a little flat versus something
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like a Salana, which of course exploded over the last week. Pretty good
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moves there obviously, with Salona Avalanche also exploding over the weekend in the last
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few days, so up around thirty bucks. So I don't know. We're
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seeing some very interesting trades right now that I think will potentially cause some movement
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within Ethereum. I'm still on the idea that this will be much more successful
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than a lot of people think, so we'll see how that plays out within
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all of that. This was the last prediction here by Naked rox Garassi,
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and his prediction is is that an ETF issue will file for a combined spot
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Bitcoin eth and Salana ETF in the next few months. Man, we're going
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to get a lot of index based manage crypto ETFs. It looks like over
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the next eighteen months, I think this could be one of the most active
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times on these ETFs, and that's going to be good for crypto. It's
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going to be good for the communities because I think a lot of this will
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expose a lot of people into understanding what crypto is doing. All right,
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we'll cover more this week. It's going to be a packed week with lots
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of interviews, lots of breakouts, says the ETF launches. Make sure to
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stick around here. If you're not in the Dimo circle, get in on
16:03
that. It's a great place to get additional content. Follow me out there
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on x at Paul Baron. We'll catch you next time right here on Techpath than