Latest / CRYPTO 101 / Crypto Rundown: SOL ETF Odds Approach 100%, BlockRock Moves BTC & ETH, & FTX Pays Out $5 Billion!

Transcript

Crypto Rundown: SOL ETF Odds Approach 100%, BlockRock Moves BTC & ETH, & FTX Pays Out $5 Billion! · CRYPTO 101

0:08
[SPEAKER_00]: Alright, everyone, welcome back to the Crypto 101 run down presented by Gemini, your bridge to the future of money, and we're excited to have all of you back with here.
0:18
[SPEAKER_00]: Alright, back here with us again, it's going to be an exciting episode.
0:21
[SPEAKER_00]: We got a lot going on in the great world of crypto, and we're getting some pretty solid price action coming off of the weekend.
0:28
[SPEAKER_00]: As most of the crypto market is rallying back to the upside.
0:32
[SPEAKER_00]: lots of interesting things to talk about here today.
0:34
[SPEAKER_00]: We're going to be breaking down everything that you need to know, including let's just give a little a little bit of a sneak peek here to you, though, including we're exiting out of the worst 10-day stretch in the market.
0:45
[SPEAKER_00]: Into seasonally, the best area of the market as we go into October and November is a lot of people like the call it we have.
0:52
[SPEAKER_00]: uptober right around the corner here.
0:55
[SPEAKER_00]: And so we're on the final day here of this really nasty stretch that we traditionally get in September.
1:00
[SPEAKER_00]: And we're getting ready to enter into a whole new era of the market and historically speaking, this should actually be one of the best periods for crypto in the entire year.
1:08
[SPEAKER_00]: Now, behind the scenes, I mean, we're seeing all sorts of different things from the triathlon markets, from the crypto markets.
1:14
[SPEAKER_00]: One of the big takeaways is that we are seeing large investors, smart investors, these financial institutions, you name it, anyone that has any kind of significant amount of money is trying to get their hands and get involved with crypto in all these different ways and you'll notice that that's a bit of a reoccurring theme here.
1:33
[SPEAKER_00]: In today's episode and so we're gonna look at what BlackRock's doing.
1:37
[SPEAKER_00]: We're gonna look at what some of these crypto ETFs are doing We're gonna look at what's happening behind the scenes with coinbase and these treasury companies and how fast and how significant some of these levels of accumulation are Because again, I think it really does paint the whole picture and we even have existing companies like tether they're coming out
1:55
[SPEAKER_00]: and accumulating over a billion dollars worth of Bitcoin for their own purposes.
2:00
[SPEAKER_00]: And so again, there's this race that's on.
2:03
[SPEAKER_00]: There's a race to accumulate because the smart money investors, the large investors, whether it's tradified, defied, doesn't matter.
2:11
[SPEAKER_00]: They understand that this stuff is going to be extremely valuable going into the future.
2:16
[SPEAKER_00]: And we're seeing this crypto race happening in front of our eyes, where people just can't get enough of it.
2:24
[SPEAKER_00]: And ultimately what that does is that squeezes price to the upside.
2:27
[SPEAKER_00]: So lots of stuff to talk about there.
2:28
[SPEAKER_00]: I think the last thing I just want to mention before we begin is that we're seeing a lot of information around the ETFs.
2:35
[SPEAKER_00]: And it looks like according to some of the ETF analysts, I mean, we're at just about 100% odds of approval in the next month or so for these ETFs.
2:45
[SPEAKER_00]: And so we're going to reveal exactly which ETFs those are, how it could impact the market,
2:54
[SPEAKER_00]: So without further ado, Tevo, man, what an episode.
2:58
[SPEAKER_00]: I was a mouthful as we get started, but lots of good things happening.
3:01
[SPEAKER_01]: Yeah, one of those exciting episodes where we had an epic giant team wide episode on Friday.
3:07
[SPEAKER_01]: If you missed that, make sure you go back and listen to that, because we had Bryce, we have Rohe, you guys don't get to hear from them all the time, they had some awesome insight.
3:14
[SPEAKER_01]: So if you didn't hear Friday's episode, go back and check that out.
3:17
[SPEAKER_01]: But one of those fun weeks here,
3:20
[SPEAKER_01]: where we have a Friday afternoon episode and then sure enough over the weekend and in the Monday there was a ton of news and a ton of price action where you know everybody thought the world was falling last week.
3:30
[SPEAKER_01]: Um, I guess not everybody the panicans, the weekends, uh, and then sure enough, you know, Sunday, Monday, everything, uh, popped back, eats back to 4200 and, you know, hood is absolutely rocketing yesterday.
3:42
[SPEAKER_01]: And, um, yeah, some positive price action heading into October.
3:45
[SPEAKER_01]: We're really excited.
3:47
[SPEAKER_01]: Again, we say zoom out here.
3:49
[SPEAKER_01]: That is why you come to this show each week to learn what is going on.
3:54
[SPEAKER_01]: So like Brennan said, we have an epic Monday arts Tuesday, epic Tuesday run down here.
3:59
[SPEAKER_01]: We got 10 line items, folks, 10 line items to cover for you today, but we're going to kick it off with some TA.
4:05
[SPEAKER_01]: So let's jump into it.
4:06
[SPEAKER_00]: Yeah, absolutely.
4:07
[SPEAKER_00]: I mean, let's just take a look at this chart because Tiva, like you said, man, we're having a good rally over the weekend here.
4:15
[SPEAKER_00]: And it really all starts with Bitcoin as Bitcoin's kind of leading the charge.
4:19
[SPEAKER_00]: But, man, this is what that chart looks like.
4:21
[SPEAKER_00]: We talked last week a little bit about this move down that we had, a little bit of...
4:25
[SPEAKER_00]: kind of a depressing move, right?
4:27
[SPEAKER_00]: Where we looked like we were breaking out to the upside, above the moving averages, breaking through some of those lower highs, and then we met some resistance at around 118k.
4:37
[SPEAKER_00]: And then price fell pretty steeply back to the downside.
4:41
[SPEAKER_00]: And so what we saw is that over about a one week period, Bitcoin fell about 8% to the downside for altcoins.
4:47
[SPEAKER_00]: It was
4:47
[SPEAKER_00]: around 20 plus percent depending on the outcome that we're looking at.
4:52
[SPEAKER_00]: And so pretty big pull back across the board, at least a decent size one as Bitcoin was pushing almost double digits to the downside.
5:00
[SPEAKER_00]: Now, a couple of things that I want to kind of break down here with Bitcoin is that
5:06
[SPEAKER_00]: In the short term, I think you can make the argument that there's still a little bit of uncertainty.
5:10
[SPEAKER_00]: But as you zoom out to the bigger picture, we have the saying that we like to use one in doubt, zoom out.
5:17
[SPEAKER_00]: But as you begin the zoom out, you start to realize that this...
5:21
[SPEAKER_00]: made to long-term picture looks really, really good still.
5:25
[SPEAKER_00]: In fact, I think it looks increasingly stronger the more kind of price action we get like this.
5:30
[SPEAKER_00]: But again, I understand some of the short-term choppiness.
5:33
[SPEAKER_00]: That's just going to be kind of the nature of the crypto markets is getting some of that short-term choppiness, short-term volatility.
5:39
[SPEAKER_00]: That's not the new for us here as crypto holders, but the big thing that I want to highlight for everyone is that as we zoom out over here, we can kind of see that this area that was the previous all-time high as of highlighted, I mean, we've come up here and we've rejected and we've rejected this area so many different times, but can clearly see that this area around a hundred and nine pay or so has historically been a pretty big resistance point until
6:05
[SPEAKER_00]: we broke it here in recent weeks and rather I guess in recent months and then we kind of come back down and bounced off this and come down and bounced off this and come down and bounced off this and now what we can start to see is that that prior all-time high resistance level is now turning into a newfound support level and on top of this one of the other big data points that we've been trying to preach is that this anchored v-wap from the trade war lows back in April
6:31
[SPEAKER_00]: has been a critical level of support for Bitcoin, where we've kind of broke out, bounced off this, broke out, bounced off this, broke out, bounced off it, and we continue to find support right around or above that anchored VWAP from the lows, which is this orange line on the screen.
6:47
[SPEAKER_00]: And so, again, we're kind of turning prior highs in the newfound lows.
6:50
[SPEAKER_00]: We're using the Anchor V-Wop as support, and we're catching at a pretty important level over here on Bitcoin.
6:55
[SPEAKER_00]: And so, I really, really do like what we're seeing here in the big picture.
6:59
[SPEAKER_00]: Now, I think in the short-term picture, Tivo, we could look a little bit back in over here on the charts and say, well,
7:05
[SPEAKER_00]: Um, you know, again, Bitcoin is in this channel where we're going from support to resistance to support to resistance.
7:13
[SPEAKER_00]: And we have this very clear idea that, hey, the top part of this falling channel is a resistance line.
7:18
[SPEAKER_00]: The bottom part of this falling channel is a support line.
7:21
[SPEAKER_00]: Again, I think you could say, hey, we're at resistance.
7:24
[SPEAKER_00]: We're right at those 20 and 50 day moving averages.
7:27
[SPEAKER_00]: We're at the top of this resistance line.
7:29
[SPEAKER_00]: We're at that lower swing high.
7:31
[SPEAKER_00]: From the technical perspective, you could say, hey, this is a little bit risky.
7:35
[SPEAKER_00]: Maybe we get a little bit of a rejection or a pullback on this level.
7:38
[SPEAKER_00]: But again, when in doubt zoom out, you have a little bit of short-term risk, but a falling channel in the scheme of a move upwards is identified as a bull flag, which again, is a bullish continuation pattern, where you have the move up, you have consolidation downwards, which is typically followed by more continuation to the upside.
7:59
[SPEAKER_00]: And so this is one of the two primary kinds of bull flags that we can see.
8:03
[SPEAKER_00]: So again, short term, I think you can make an argument that we're at resistance and stuff.
8:07
[SPEAKER_00]: But once we start to see this resistance line in these moving averages crack, and once Bitcoin starts getting a Bob it's prior highs, of maybe like 116, 117, 118.
8:15
[SPEAKER_00]: I think Bitcoin's back off to the races.
8:17
[SPEAKER_00]: And
8:21
[SPEAKER_00]: you have to understand that the break of a bull flag like this back to the upside could very well lead the coin back to the prior all-time highs of around 124 and 123.
8:33
[SPEAKER_00]: If not actually higher than that, and I think it could push us even closer to like 130.
8:38
[SPEAKER_00]: Once we start getting a breakout,
8:40
[SPEAKER_00]: Listen, you know, I'm watching these levels in the short term saying hey, let's just be cognizant that resistance is slightly overhead, but the moment that we start breaking that I think that we can understand and kind of prepare ourselves.
8:54
[SPEAKER_00]: for this idea that more upside could very likely be on the way.
8:57
[SPEAKER_00]: So maybe we do get a slight little bit of a retracement.
9:00
[SPEAKER_00]: I know that we have a CME gap down here as well, that people like to kind of pay attention to.
9:06
[SPEAKER_00]: But again, maybe we get some chopiness.
9:08
[SPEAKER_00]: I'm not saying we can't get more downside.
9:10
[SPEAKER_00]: But I think the broad picture that I'm trying to paint here is that A, we could just be in the most bullish case scenario, which is where we just break out from here.
9:18
[SPEAKER_00]: But there is a possibility that, hey, maybe we retrace down and then we kind of see this higher high afterwards.
9:24
[SPEAKER_00]: But the big takeaway is I think that more highs are coming.
9:28
[SPEAKER_00]: And that seems to be everyone's big question is it possible for more highs?
9:32
[SPEAKER_00]: And I would say it's probable, what is a little bit more gray with where we're at right now is are we gonna get that this week or are we gonna get that maybe in a month or two and are we gonna see that over the next month?
9:44
[SPEAKER_00]: And I know everyone wants to have a little bit of this kind of instant gratification mindset where it happens immediately.
9:52
[SPEAKER_00]: But realistically here, it's still a little bit cloudy in the short term as we have that resistance sitting slightly overhead.
9:57
[SPEAKER_00]: And you know, maybe we do see a little bit of downside into kind of those new highs afterwards.
10:02
[SPEAKER_00]: But the best case scenario is just kind of seeing it right here right now.
10:06
[SPEAKER_00]: So let's cross our fingers and hope to see that.
10:09
[SPEAKER_00]: The other things that I've noticed here is just that.
10:12
[SPEAKER_00]: Bitcoin dominance is definitely back on the rise and it has been kind of since the middle part of September.
10:18
[SPEAKER_00]: We saw a bottom out around 57% now it's climbing back up.
10:22
[SPEAKER_00]: It's not anything too shocking.
10:23
[SPEAKER_00]: You know, we can kind of tell that hey, Bitcoin dominance falls and then it rises and it falls and then it rises and it rises and it does this.
10:31
[SPEAKER_00]: It does look like it's still in the overall kind of downtrend and it has pivoted but Bitcoin performing a little bit better than altcoins here
10:42
[SPEAKER_00]: And interesting thing as well is that, you know, we're starting to see some of these other large caps turn around as well.
10:49
[SPEAKER_00]: But again, they've just seen kind of this continued selling pressure.
10:55
[SPEAKER_00]: That is a little bit more than what we're seeing in Bitcoin.
10:59
[SPEAKER_00]: And so when we look at all coins here, again, we always like to say they move it around two to three X the volatility of Bitcoin.
11:05
[SPEAKER_00]: So, if Bitcoin's down 1%, we see Ethereum down 2.5% on the day.
11:09
[SPEAKER_00]: We see Solana down almost 3%.
11:12
[SPEAKER_00]: We see XRP down about 2%.
11:14
[SPEAKER_00]: You know, we see some of these other altcoins down around 3% or so across the board, depending on the altcoin.
11:21
[SPEAKER_00]: Allcoins are still kind of seeing a little bit more downside volatility, but they did see some nice rallies over the weekend.
11:27
[SPEAKER_00]: I mean, if we look at Ethereum,
11:29
[SPEAKER_00]: Here to you vote, you can see that, hey, this thing came into its prior highs, and it bounced right off of this important level.
11:34
[SPEAKER_00]: That's a good thing to see.
11:36
[SPEAKER_00]: You could say the same thing over here with Solana.
11:38
[SPEAKER_00]: It kind of came down into its prior highs, peaked its head below 200, and immediately started seeing some aggressive buying pressure, where it bounced 12.5% back to the upside.
11:48
[SPEAKER_00]: So, I don't really hate these levels too much.
11:51
[SPEAKER_00]: I did a little bit of accumulation
11:54
[SPEAKER_00]: And I know we have XRP people in here as well.
11:57
[SPEAKER_00]: You know, I've been watching this level around $2.70 as it's been a pretty historic accumulation zone.
12:04
[SPEAKER_00]: Again, an area that was prior highs now turned into support.
12:08
[SPEAKER_00]: And I've been watching this $2.70, $2.75 zone as just another one of those examples.
12:16
[SPEAKER_00]: Yeah, I mean, lots of positive price action and nice bounces happening across the board.
12:22
[SPEAKER_00]: You know, hopefully we get some continuation here.
12:24
[SPEAKER_00]: Again, we are in a kind of perfect time of the year for this, but I'll pause there and we can kind of go back and forth, but yeah, you know, I'm I'm liking what I'm seeing here to you, Val.
12:37
[SPEAKER_01]: Yeah, I mean, the charts are just one part of the equation at this point is ahead into the year we're trying to look at the macro we're trying to look at Ray cuts.
12:44
[SPEAKER_01]: Obviously that that story line is going to be coming in and out.
12:48
[SPEAKER_01]: It's going to be in kind of like a weave pattern over the next, you know, the next what three months, two months.
12:54
[SPEAKER_01]: It's you know, wait for wait for clearing event.
12:56
[SPEAKER_01]: Then you got about two weeks and then you're looking at the data, the data, then Ray cuts what's going to happen again.
13:02
[SPEAKER_01]: There is a little bit of just a side note before we continue on with the
13:07
[SPEAKER_01]: the show is like the government shutdown while that doesn't really affect the crypto markets too much I think overall if there is a government shutdown You're gonna be missing the jobs data, which will be interesting when it comes to kind of that fed decision of what what could or might happen but
13:25
[SPEAKER_01]: I'm going to take over the screen share brand, and if you don't mind, and we'll continue on.
13:28
[SPEAKER_01]: I got a couple things to eat up for us, but before we do that, we have a ton of people in the chat.
13:32
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13:34
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13:36
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13:37
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13:39
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13:43
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13:47
[SPEAKER_01]: I know we got Deborah, we got Ryan grants here, Josh is here, one visions here, tons of fun mics here, great, great group for Tuesday.
13:57
[SPEAKER_01]: That's awesome.
13:58
[SPEAKER_01]: But we're pulling up the M2 money supplies.
14:01
[SPEAKER_01]: We kind of cover that all the time.
14:03
[SPEAKER_01]: It seemed to be in a little bit of a correction phase of kind of going sideways for a little bit, but then it rocketed to new heights, so you're looking at.
14:10
[SPEAKER_01]: You know, M2 money supply compared to the Bitcoin price, you know, Bitcoin's at 112 and M2 money supply could top out it around 175 this week.
14:22
[SPEAKER_01]: So that's something that a lot of people like to try to compare to Bitcoin to see if they'll catch up moving on to the fear greed index.
14:30
[SPEAKER_01]: Still neutral.
14:30
[SPEAKER_01]: It's been that way for a couple of weeks.
14:33
[SPEAKER_01]: So it's right at 43.
14:35
[SPEAKER_01]: Um, that thing's been pretty consistent for the last couple weeks, uh, but always good to check in.
14:39
[SPEAKER_01]: And then I pulled up polymarkets.
14:41
[SPEAKER_01]: I thought it was interesting of kind of seeing, uh, the TA of, of that, uh, you know, kind of that consolidation zone that we're watching.
14:49
[SPEAKER_01]: And the odds for Bitcoin to hit 125K this year is 68% 130K is 56% 140K is 37%.
14:59
[SPEAKER_01]: So I think, you know, there's more, more trading to the upside on on Polly Market, which again is kind of leaning and showing you where the the market is leaning, which again can just be more tools tools in your tools when you're when you're making decisions, but what what what what what what what your thoughts on all that data Brennan.
15:16
[SPEAKER_00]: Yeah, you know, and to money supply here is interesting because we historically see a pretty close correlation in between what Bitcoin is doing and what the end to money supply is doing.
15:27
[SPEAKER_00]: And the big correlation there is again, not really in the short term, it is in.
15:32
[SPEAKER_00]: the long term and it's I think the more you zoom out the more it tends to be correlated and she's better performance and again I do believe that we're going to see this game of catch up We've seen gold running.
15:44
[SPEAKER_00]: We've seen equities running.
15:45
[SPEAKER_00]: We've seen all these different asset classes running
15:48
[SPEAKER_00]: And I do think that it's it's time for crypto to kind of have its next move up here and we've gone through these different forms of consolidation where we've seen crypto just kind of chilling out after a really large move to the upside hitting new all time highs and now we've seen kind of crypto go through this again consolidation phase.
16:10
[SPEAKER_00]: But I think now we're kind of exiting towards the back part of that.
16:13
[SPEAKER_00]: I think that this consolidation phase ends.
16:16
[SPEAKER_00]: We've talked before about how the last 10 days in September are historically the worst 10 day stretch out of the entire year for the markets.
16:24
[SPEAKER_00]: And I would apply that to crypto as well.
16:27
[SPEAKER_00]: And so we're here on the last day of September.
16:29
[SPEAKER_00]: And I think you really do have to believe that
16:33
[SPEAKER_00]: We're we're getting ready for October and again October November thecember is the best period for the markets with November being the best month October being I think like the second best month and historically just a really really solid one in terms of performance so
16:49
[SPEAKER_00]: Yeah, you know, pretty, pretty optimistic.
16:51
[SPEAKER_00]: And I think that we can see a bit of ketchup here happened with Bitcoin moving to the upside.
16:56
[SPEAKER_00]: And I think part of that is probably going to be due to a little bit of a supply squeeze.
17:00
[SPEAKER_00]: I mean, we've talked about the diminishing supply of Bitcoin where it's supply on exchanges and even on these OTC deaths, have been getting gobbled up by treasuries and asset managers and banks and companies.
17:12
[SPEAKER_00]: And, you know, even retail,
17:14
[SPEAKER_00]: traders and those supplies have been dwindling and I think that we can get a little bit of a supply crunch here that could allow Bitcoin to have a nice move to the upside and probably lead to new all-time highs.
17:27
[SPEAKER_01]: Yeah, and that's again just in the Bitcoin market and the momentum continues in the altcoin space with
17:37
[SPEAKER_01]: It's Bloomberg.
17:38
[SPEAKER_01]: Friend is a Bloomberg intelligence saying that now he's seeing the, um, he's seeing 100% odds now for the S1s that are waiting for the formal green light, um, basically a lot of jargon of saying these, these ETFs are coming down the pipeline.
17:53
[SPEAKER_01]: I think soul, the soul ETF was kind of the frontrunner Brendan, uh, what, what of you?
17:59
[SPEAKER_01]: I know you kind of brought that link in for the news article when you went through it.
18:02
[SPEAKER_01]: What did you see there?
18:03
[SPEAKER_00]: Yeah, it's basically what he's saying is that after you look at all the revisions and the new forms that have been submitted, he's basically saying that we've gone from a 95% chance of approval to basically out a hundred, he's like, this stuff is
18:20
[SPEAKER_00]: It's on the chopping block like waiting to get approved and he's like it's not a matter of like will if these things get approved he's like when are they going to get approved and that's the kind of the state of where the stage of where these ETFs are at is he's literally just waiting for the approval itself because that's where they all are sitting and one of the interesting things that I saw.
18:42
[SPEAKER_00]: is that he was saying it's more than just, it's more than just like Solana.
18:49
[SPEAKER_00]: I think he was saying like Coin and XRP were also thrown into that same kind of territory.
18:56
[SPEAKER_00]: We're saying they're essentially waiting for imminent approval.
19:00
[SPEAKER_00]: And so he was throwing light coins to Lana and XRP on to the same boat and saying, these things are essentially sitting at a hundred percent of approval and we're just waiting for it to happen.
19:10
[SPEAKER_00]: And it could happen at any day now.
19:12
[SPEAKER_00]: So that's what we're seeing on the back end.
19:14
[SPEAKER_00]: And I think as an investor, you got to be a little bit excited about that, because these are the kind of things that could lead to a lot of upside.
19:21
[SPEAKER_00]: And it was interesting because I saw
19:24
[SPEAKER_00]: uh... him going back and forth and by him it was it wasn't James it was Eric from blue and bird intelligence
19:30
[SPEAKER_00]: And Eric was responding to a couple of people's comments and replies to him saying, is this going to cause a big crash?
19:37
[SPEAKER_00]: This is going to be bearish.
19:39
[SPEAKER_00]: And he was just hairing people apart in the comment section of his tweets, being like, imagine how stupid you have to be and imagine this in that.
19:49
[SPEAKER_00]: And he's like, you guys don't understand.
19:52
[SPEAKER_00]: And for people who aren't aware,
19:56
[SPEAKER_00]: Eric Bolchines and James Seifart are the lead ETF analysts at Bloomberg intelligence.
20:02
[SPEAKER_00]: I would go far so far as to say they might not say this.
20:05
[SPEAKER_00]: I would say I think that they're the lead ETF analysts in the world.
20:09
[SPEAKER_00]: I think that they are the best at what they do personally.
20:12
[SPEAKER_00]: And so when you have these people giving their opinions about the likelihood of these ETFs and then the kind of cause and effect that they could have afterwards and then kind of just like,
20:24
[SPEAKER_00]: I don't want to say, like, mocking, but they're kind of just annihilating anyone who's being like, this is going to be this huge bearish catalyst, um, he's like, that's not really what these are or how they should behave.
20:34
[SPEAKER_00]: And so it looks like a really good scenario.
20:36
[SPEAKER_00]: Now, again, we're not saying these things can't have like selling pressure and that they can't ever be bearish and that they can't have outflows.
20:42
[SPEAKER_00]: Like, that stuff's natural.
20:44
[SPEAKER_00]: But to say that it's a bearish catalyst for like a whole stem of downside is, I think the
20:49
[SPEAKER_00]: like by far the least likely scenario and that the whole point of these things being created is for accumulation and that's what's likely going to happen here is that when these things get approved there's going to be accumulation and I'm just looking at it as an interesting opportunity because I think you know like coin I'm not as interested in but I think you could look at Solana or XRP and I think you could look at either of those and say hey these could potentially be some pretty big catalyst to get these things running again.
21:19
[SPEAKER_01]: Yeah, I couldn't agree more.
21:21
[SPEAKER_01]: And the fact that the SEC chair just keeps talking crypto.
21:27
[SPEAKER_01]: One of the tweets I saw was crypto is his number one priority right now.
21:32
[SPEAKER_01]: So you kind of just throw that into the mix.
21:35
[SPEAKER_01]: And again, it's a zoom out type of mentality of where's the momentum going from regulation to price action to ETFs to tradify to treasury companies.
21:45
[SPEAKER_01]: It's it's all crypto.
21:47
[SPEAKER_01]: It's all crypto related.
21:49
[SPEAKER_01]: and not only is it just, you know, project related, it's stablecoin related and I had, I did have a video, I always appreciate when we see kind of the leaders that are, you know, there was what the crypto summit and all the stuff happening in the White House, the administration and you see, you know, Brian Armstrong, CEO of Coinbase, you see Vlad there, you see the
22:12
[SPEAKER_01]: Um, and I think it's cool to see them at the big events, but I think what's even cooler is when they're, there's not necessarily a big event to be had, but there's talks in the chambers from Congress and the Senate, and you see these guys down there, and I think Brian Armstrong's really one of the top ones that spends a ton of time in DC.
22:29
[SPEAKER_01]: And then he kind of does these little videos, these roundtable videos, just kind of filling in people.
22:35
[SPEAKER_01]: And so, I mean,
22:37
[SPEAKER_01]: It's just a shame that Riverside's letting us down today because it was a nice minute clip.
22:43
[SPEAKER_01]: I'm going to try to share it, but I don't think anything's coming up.
22:47
[SPEAKER_01]: Let me see if we can hear the sound.
22:48
[SPEAKER_01]: I'm going to play the sound real quick, Brendan.
22:50
[SPEAKER_01]: Can hear this?
22:53
[SPEAKER_01]: No, no, okay, so basically, yeah, we tried it one last time, but Riverside's Riverside's letting us down today, sadly.
23:01
[SPEAKER_01]: So, basically, it was Brian Armstrong, and he was back there fighting the bank.
23:06
[SPEAKER_01]: So, the big banks want to take away your stable-coin rewards, and the summary of it was, hey, this legislation has already been agreed to and passed in the Genius Act, but the big banks are still lobbying, and they're sending their anti-crypto army.
23:18
[SPEAKER_01]: I'm sure it's led by friend of the, not friend of the program, enemy of the program, Liz
23:23
[SPEAKER_01]: Who's definitely trying to repeal a lot of this stuff because again, if it takes probably a level two.
23:30
[SPEAKER_01]: It's not, it's not that hard, but it takes a level two level three crypto investor to figure out, like, hey, if you have Robinhood gold or if you have, you know, Coinbase or Gemini accounts and you can go and find their market funds that are given off four or five six percent and Coinbase is starting to advertise the, you know, the eight to 10 percent and I'm sure Gemini and crack in are going to start coming out with, you know, different products once this, you know, really goes and gets past the big banks are in trouble.
23:58
[SPEAKER_01]: Because again, you know, your money market funds are going to go with rates.
24:02
[SPEAKER_01]: And so as rates come down, the money market funds are going to start dipping.
24:06
[SPEAKER_01]: There are already below four a year goes for you can get a money market fund like four to four 10 now they're at three eight and they're just going to keep going down and so that capital is going to want to flow somewhere else eventually, whether it's in video the max seven Bitcoin all coins or
24:21
[SPEAKER_01]: If this stable coin legislation get passed and there's new products around crypto rails to give people rewards, I mean that's it's like it's finally you're a part of the system instead of strictly just being the product.
24:36
[SPEAKER_00]: Yeah, I mean, spot on, man.
24:37
[SPEAKER_00]: And we're seeing that that system just continue to grow.
24:41
[SPEAKER_00]: And one of the big things that came our way.
24:44
[SPEAKER_00]: And it's funny, because we've gone back and forth on this.
24:45
[SPEAKER_00]: Like we want to get a tutorial out as soon as possible for anything that's brand new.
24:51
[SPEAKER_00]: And one of the big ones that came on to our radar is this arrow drum and coin base integration, where coin base is saying we are going to be integrating the arrow drum decentralized exchange.
25:04
[SPEAKER_00]: directly into our Coinbase centralized exchange interface.
25:08
[SPEAKER_00]: Now, for the average user, what this means is that you're essentially going to be uncapped on what you can trade.
25:15
[SPEAKER_00]: So long as it trades on Ethereum, and if you have a decentralized exchange integration, you can now trade just about any single coin within the Ethereum or the base ecosystem, which is really cool.
25:27
[SPEAKER_00]: So this is going to be an interesting thing.
25:29
[SPEAKER_00]: And again, I would say it's a pretty big thing for error drum getting a bump in volume and activity.
25:34
[SPEAKER_00]: And you have the entire user base of Coinbase being opened up now to error drum to go through their system.
25:40
[SPEAKER_00]: And it's a win-win.
25:41
[SPEAKER_00]: Error drums getting more users and activity.
25:44
[SPEAKER_00]: Coinbase now allows their customers to get access to tens of thousands of different altcoins that they could want to choose from.
25:52
[SPEAKER_00]: and it's a win-win situation.
25:53
[SPEAKER_00]: So that's going to be rolling out and it had been rolling out to limited members and it was a little bit weird because you know we went back and forth like you know I've had a coinbase account since like 2017 and I've used them and I hold a decent amount of money on there and I never got access to it.
26:12
[SPEAKER_01]: And we were originally going to make a video and you're like, hey, you know, this got rolled out I see it on my and I was like, I don't see that and you were sending me links and I didn't have access and it was restricted from me well listen listen we're a team here Brendan and we can still say that the crypto 101 podcast had freemium inside access right we did as a team listen who listen credit to me for getting it sure we can send me out all we want but that's not what it's about it's about the team
26:38
[SPEAKER_01]: and the crypto one-on-one podcast team had insider information for everybody a month ago yeah about four weeks ago that i had access and i just went to you as like hey we need to tutorial and you're like i don't see it and i went to brine i i really was the only one i was did which was which was cool i guess similar to me getting the uh robinhood credit card remember on a line is like nobody was able to get the credit card i've had it for like a year so
27:01
[SPEAKER_01]: I don't know, man, maybe I got some secret sauce, which is all the more reason why you want to subscribe and listen to the show.
27:08
[SPEAKER_01]: So again, if you're new here on the bottom right, you see the logo, hit the subscribe button.
27:12
[SPEAKER_01]: Throw us a thumbs up.
27:13
[SPEAKER_01]: It really, really helps us grow the show.
27:15
[SPEAKER_01]: Continue to do this for free and give you amazing crypto alpha, because again, we had early access to this a month ago.
27:20
[SPEAKER_01]: I was playing around with it.
27:22
[SPEAKER_01]: It is very cool.
27:22
[SPEAKER_01]: I mean, it basically
27:24
[SPEAKER_01]: It's one of those things where oh, when's Coinbase going to add this this token or this coin is very easy to learn and you can go trade, you know, obviously, you know, I'm just going to throw out a number five X the amount of projects with this Dex Dex via error drone and I think that again, that's the future of these crypto rails and merging you with.
27:41
[SPEAKER_01]: kind of the software of that base layer dot com or the app to be able to just people on easy access people and the easier to access you can get it uh... the more you know liquidity you're going to open up and that's the same with crypto that's the same with stocks and that's why people looking into this you know the creeperian stocks on chain it's just it's really just a liquidity on locks it's going to be really really interesting to keep watching
28:04
[SPEAKER_01]: That's nothing that you were monitoring, either moving tons of Bitcoin.
28:10
[SPEAKER_01]: 888 Bitcoin worth a billion into the reserve while it on chain.
28:15
[SPEAKER_00]: Yeah, this is fascinating.
28:16
[SPEAKER_00]: We said this at the very beginning, but like you're seeing these different asset managers and banks and like everyone just trying to get their hands on Bitcoin and crypto.
28:25
[SPEAKER_00]: And this is just another example of it.
28:27
[SPEAKER_00]: I mean, Tether is the largest stablecoin.
28:30
[SPEAKER_00]: They're primarily from the Ethereum ecosystem.
28:33
[SPEAKER_00]: But even now, they're looking at how fast these stats and treasury companies and all of them are accumulating.
28:40
[SPEAKER_00]: And they're saying,
28:41
[SPEAKER_00]: Maybe we should get our hands on a good amount of Bitcoin because this stuff is... It is going fast.
28:47
[SPEAKER_00]: I mean, this stuff is a fire sale on the shelves.
28:50
[SPEAKER_00]: And, tether, again, primarily, like, doesn't work with Bitcoin a whole lot.
28:54
[SPEAKER_00]: If at all, they're saying, let's go ahead and just get a billion dollars worth of this.
28:58
[SPEAKER_00]: And I would assume that they're going to continue to accumulate that in the long term as well, because they agree.
29:03
[SPEAKER_00]: Now, you can be in the Ethereum ecosystem, and you can still believe in support and Bitcoin.
29:08
[SPEAKER_00]: So again, this just feeds into this idea.
29:10
[SPEAKER_00]: I mean, a billion dollars is a lot to just be bought off the shelf within a single buying opportunity.
29:17
[SPEAKER_00]: Lettuce, essentially your first one.
29:19
[SPEAKER_00]: And so now what we see is that Tether is creating their own Bitcoin reserve.
29:24
[SPEAKER_00]: And you can see it on chain and it's happening.
29:26
[SPEAKER_00]: But Tether now has a billion dollars worth of Bitcoin that they're holding.
29:31
[SPEAKER_00]: Again, I think we're going to continue to see more of this and we've been saying this now since kind of the start of this year, but like we have and I think we will continue to see this kind of adoption.
29:42
[SPEAKER_00]: It's going to happen from companies inside of crypto.
29:45
[SPEAKER_00]: It's going to happen from treasuries.
29:46
[SPEAKER_00]: It's going to happen from banks asset managers governments.
29:49
[SPEAKER_00]: companies in the Fortune 500 you know we see it happening there and this is just going to be a continued theme as we move into the future and what really happens here and maybe we'll talk about this on our next one because we can't show the charts but we'll show the charts again for Bitcoin and Ethereum's exchange reserves.
30:09
[SPEAKER_00]: and their OTC reserves, and those things are dwindling.
30:13
[SPEAKER_00]: So I think at some point we have to get into a little bit of a supply shock, and those supply shocks cause these really sharp upwards moves in the price action of these select cryptos.
30:26
[SPEAKER_00]: So it's certainly something to keep an eye out on here.
30:28
[SPEAKER_00]: And again, I just don't see it going anywhere soon.
30:31
[SPEAKER_01]: Yeah, and we missed this at the top of the show, because I got thrown a curve ball with the technical difficulties, but Heather's not the only one moving a Bitcoin around.
30:40
[SPEAKER_01]: We got black rock moving some Ethereum and some Bitcoin, some decency size numbers.
30:47
[SPEAKER_01]: So a different numbers kind of all over the place on some of the data.
30:50
[SPEAKER_01]: We didn't have time this morning that it was flying out.
30:53
[SPEAKER_01]: We couldn't verify but it was like definitely over about 30 million dollars of Bitcoin and 300 million dollars of ETH and they moved it on to Coinbase specifically Coinbase primed so then kind of you could take it was a fork in the road Or they moving it to sell or they moving it for storage because Coinbase is you know Does a lot of the storing for these larger brokerages for the ETFs?
31:14
[SPEAKER_01]: I'm leaning I would lean towards it's first for storage.
31:17
[SPEAKER_01]: What about yourself?
31:19
[SPEAKER_00]: So yeah, so something interesting to understand for the general audience here is that most of the time people look at money going to an exchange and they view it as a negative thing.
31:30
[SPEAKER_00]: In this instance, Coinbase is actually one of the primary custodians for BlackRock.
31:36
[SPEAKER_00]: So when BlackRock has a bunch of crypto, Coinbase is one of the primary custodians.
31:43
[SPEAKER_00]: So it's not necessarily that doesn't have to be a bad day in this case.
31:47
[SPEAKER_00]: That could actually just then be sending Bitcoin over to one of their primary custodians.
31:52
[SPEAKER_00]: And it's just as simple as that where it's being stored there.
31:55
[SPEAKER_00]: And BlackRock knows Coinbase is one of the best companies at what they do.
32:00
[SPEAKER_00]: And if anyone knows how to store this stuff properly, I think Coinbase has a close to flawless reputation.
32:08
[SPEAKER_00]: So yeah, a little bit of clarification there.
32:11
[SPEAKER_00]: And that in this specific example does not have to be a bad thing.
32:15
[SPEAKER_01]: Well, we'll skip some things because I think some things just need to be seen.
32:19
[SPEAKER_01]: We are doing a second live this week.
32:20
[SPEAKER_01]: It'll be Friday.
32:21
[SPEAKER_01]: I'm going to bring on Brian and Joe and you know, Brian and you're always welcome if you want to join, but it's going to be in the afternoon Friday because I'll be traveling.
32:29
[SPEAKER_01]: I'll be, I'll be in Vegas.
32:31
[SPEAKER_01]: We'll do it a little later than usual in Friday, but still going to do it.
32:34
[SPEAKER_01]: And some of these topics that we don't do today will bump to Friday.
32:39
[SPEAKER_01]: But we're going to give you what we think we you need to know for the week an update Brendan and up let's say that one for last so Ftx The Ftx Dom could it be an Ftx pump.
32:49
[SPEAKER_01]: There's there's some distributions coming out from the Ftx bank Ripsy so over five billion dollars will be repaid decreditors and stable coins this week Again, you know all this stuff is is basically crypto that was quote on quote lost in the bank Ripsy
33:06
[SPEAKER_01]: And then now that they're getting it back, it's a creditor, you know, you're getting back, you're your money in a sense of, I mean, they probably, we don't know, I guess the individual deficit of what happened, but you're probably getting.
33:20
[SPEAKER_01]: pennies on the dollar.
33:22
[SPEAKER_01]: Sadly for what, you know, what was in FTX, but there's still some large amounts of money, five billion overall.
33:28
[SPEAKER_01]: And this was invested in crypto and these people had to sit on the sidelines and, you know, hopefully they had other investments, you know, spread out FTX wasn't their only bag.
33:37
[SPEAKER_01]: But, you know, this stuff was in crypto before is it going to go back in, maybe not all that maybe some of it, but again, possibly liquidity event.
33:44
[SPEAKER_01]: What do you think?
33:45
[SPEAKER_00]: Yeah, so the benefit of this and the way that they're doing it here is that you're right in the sense that they're not getting their full amount back from my understanding and the way that I understand how this works is that they're getting the amount of money that they lost at the time of the event.
34:02
[SPEAKER_00]: and they're not getting what it has appreciated to, or anything like that.
34:06
[SPEAKER_00]: So that's the first half.
34:08
[SPEAKER_00]: The second half is that they're getting this, given to them in stablecoins, which is, I think the best case scenario, because if it was given to them in Bitcoin or Ethereum or Solana or in the cryptos that they lost, then what are they gonna do?
34:22
[SPEAKER_00]: Well, they're likely to go and sell that onto the market and then you really only see this as, they're cannot be buying pressure, they're can only be selling pressure.
34:31
[SPEAKER_00]: that's not the case because they're getting it in stablecoins.
34:34
[SPEAKER_00]: So if they cause selling pressure from stablecoins, that does not impact the price action of all the cryptos that we know, but if they choose to buy, then obviously that will have a price action on these altcoins.
34:48
[SPEAKER_00]: So again, they can either sell off their stablecoins, and that doesn't impact price, or they can buy
34:54
[SPEAKER_00]: Crip those with that and that will impact price in a positive way.
34:58
[SPEAKER_00]: So I think this is probably one of the best ways of doing this I know that we wish that everyone got their full amount back And everyone wants that but the main takeaway is that this is going to be one of the best Case scenarios of what could have happened, right?
35:13
[SPEAKER_00]: And that's what we are saying is that this could have gone down a lot of different ways And I think that this is probably one of the best results that we could have seen outside of everyone getting all of their money back
35:24
[SPEAKER_00]: and in stable coins or in US dollars, so overall we do not have to look at this as one of those potentials, so off events are self-catalyst because it's just hard to imagine that result from the way that this is all happening with them being given stable coins and not underlying cryptos or assets themselves.
35:42
[SPEAKER_01]: Yeah, and again, I just think it's a liquidity event, right?
35:45
[SPEAKER_01]: You just toss it in the same category.
35:47
[SPEAKER_01]: It's hey, we've got ETFs, we've got Ray Cuts, we've got creditors from FTX, getting $5 billion.
35:52
[SPEAKER_01]: It's all stuff that we're going to continue to monitor with you.
35:55
[SPEAKER_01]: And again, we apologize for the technical difficulties, but to finish off the show, we're going to end on a high note.
36:01
[SPEAKER_01]: And maybe we'll even share our screens so you can see it.
36:04
[SPEAKER_01]: Brendan, I think you can see that now that we've went over to a Riverside competitor Zoom and everything's working.
36:10
[SPEAKER_01]: Um, we do love Riverside, but they got to fix that because that's not fair to you guys, listeners.
36:14
[SPEAKER_01]: So we apologize.
36:15
[SPEAKER_01]: But we covered this on Friday.
36:17
[SPEAKER_01]: The world's highest IQ.
36:19
[SPEAKER_01]: And again, that is up to debate, depending on how you track that measure.
36:22
[SPEAKER_01]: I'm not much of an IQ.
36:24
[SPEAKER_00]: Oh, yeah.
36:25
[SPEAKER_00]: Tiva.
36:25
[SPEAKER_00]: Oh, yes.
36:26
[SPEAKER_00]: Could we just talk about his Twitter handle being his name and, and I cute 276.
36:31
[SPEAKER_00]: Could we just talk about that for a second?
36:33
[SPEAKER_01]: Sure, we can.
36:34
[SPEAKER_01]: I mean, he's obviously, he wants everybody to know his IQ.
36:38
[SPEAKER_01]: Um, I don't know if you've ever, it kind of reminds me, I guess, when you're in high school and everybody's going on SAT scores and, you know, 70, 80 percent of the people don't want to talk about it.
36:47
[SPEAKER_01]: And then there's 20 percent of the people that want to talk about it and want to know your score, just because they want you to ask them their score because they know probably their score is much higher than yours.
36:56
[SPEAKER_01]: So it seems to give off the same vibes there, but we covered it on Friday that he was probate coin and as of the, you know, I guess one of the smartest people in the world that was pretty exciting and a fun little fun fact, but there was an update over the weekend not only is he probate coin and he's a believer in Jesus.
37:15
[SPEAKER_01]: uh... but he has transferred all his assets into bitcoin everything he possesses is now in bitcoin but also uh... everything that he possesses according to him belongs to the lord jesus and will be used for his glory so it's like uh... i think i had this uh... now that we can share the screen i think uh... i had like a funny little tweet there uh... that one was smarts person wrote your selling but i think i had another one
37:47
[SPEAKER_00]: Yeah, man, I mean, listen, you know, regardless of whether he's these two artists or one of them like obviously is a pretty high IQ pretty smart guy in general
37:57
[SPEAKER_00]: You know, I'm all here for you know, I think the more that we can accumulate the better.
38:02
[SPEAKER_00]: And I like having intelligent people on the side of Bitcoin.
38:06
[SPEAKER_00]: I think it's certainly better than the other case scenario, which is where you have all the smart wealthy people not being on the side of crypto.
38:13
[SPEAKER_00]: Now we're kind of shifting where it seems like all the smart wealthy people are very clearly on the side of crypto, so they pro for us.
38:20
[SPEAKER_01]: Yes, kindergarten more.
38:21
[SPEAKER_01]: There it is.
38:21
[SPEAKER_01]: The Jesus handshake Bitcoin.
38:23
[SPEAKER_01]: I think the yeah, if you can be honest with me, I don't know.
38:26
[SPEAKER_01]: Yeah, I mean, I'm all I'm just peace and love whatever religion and creed you are, but yeah, I mean, if Jesus wants to be on a deep Bitcoin and the smartest IQ person in the world wants to be on Bitcoin, we we welcome them with open arms as I'm sure Michael sailor would as well.
38:42
[SPEAKER_01]: but we'll wrap it up there again.
38:44
[SPEAKER_01]: It's a huge apology.
38:45
[SPEAKER_01]: I'm the producer so I do take responsibility but our software's just weren't working today but we appreciate everybody who's tuned in.
38:53
[SPEAKER_01]: We appreciate the listenership.
38:55
[SPEAKER_01]: We'll be back later this week with another episode.
38:58
[SPEAKER_01]: I will try to run some tests to make sure that this doesn't happen again on Riverside and if there is issues we'll jump over to Zoom or something else but we really appreciate everybody listening.
39:07
[SPEAKER_01]: Thanks so much and enjoy the rest of your day and we'll see you guys later
39:12
[SPEAKER_01]: You