October 24, 2025 • 17 mins
President Donald Trump pardoned Binance founder Changpeng Zhao.
Zhao’s plea was part of a $4.3 billion settlement Binance reached with the DOJ in 2023. Sen. Elizabeth Warren, a Massachusetts Democrat, blasted the pardon, calling it an example of “corruption.”
~This episode is sponsored by BTCC~
BTCC 10% Deposit Bonus! ➜ https://bit.ly/PBNBTCC
00:00 Intro
00:10 Sponsor: BTCC
00:45 CPI Broken
01:45 Tom Lee: This will push us into alternative data
04:00 Polymarket to launch a token
04:30 Rate cut odds
05:00 Gas to the inflation fire
05:45 Kristin Smith: CFTC on Furlow
06:40 Mark Warner: Maybe a surprise market structure bill soon
08:20 Longer shutdown odds rising
09:00 Trump pardons CZ
10:00 CZ to run Binance soon?
11:15 Warren community noted
12:00 SBF next?
13:00 Peter accepts debate
13:20 JP Morgan bends the knee
14:00 ETH wins
16:40 Stock trading off exchanges
17:10 Outro
#Crypto #Bitcoin #ethereum
~Trump Unchains Crypto?⛓️Weekend Outlook🚀~
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Zhao’s plea was part of a $4.3 billion settlement Binance reached with the DOJ in 2023. Sen. Elizabeth Warren, a Massachusetts Democrat, blasted the pardon, calling it an example of “corruption.”
~This episode is sponsored by BTCC~
BTCC 10% Deposit Bonus! ➜ https://bit.ly/PBNBTCC
00:00 Intro
00:10 Sponsor: BTCC
00:45 CPI Broken
01:45 Tom Lee: This will push us into alternative data
04:00 Polymarket to launch a token
04:30 Rate cut odds
05:00 Gas to the inflation fire
05:45 Kristin Smith: CFTC on Furlow
06:40 Mark Warner: Maybe a surprise market structure bill soon
08:20 Longer shutdown odds rising
09:00 Trump pardons CZ
10:00 CZ to run Binance soon?
11:15 Warren community noted
12:00 SBF next?
13:00 Peter accepts debate
13:20 JP Morgan bends the knee
14:00 ETH wins
16:40 Stock trading off exchanges
17:10 Outro
#Crypto #Bitcoin #ethereum
~Trump Unchains Crypto?⛓️Weekend Outlook🚀~
⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺⎺
Join our community!
Diamond Circle Email (FREE)➜ https://bit.ly/pbnmembership
Private Telegram Group (FREE) ➜ https://t.me/+nISqoMxrok40NTcx
Subscribe on YouTube ✅ https://bit.ly/PBNYoutubeSubscribe
X/Twitter 📱 http://bit.ly/PBNtwitter
Get official PBN merch! ➜ https://merch.paulbarronnetwork.com/
~ The Best Self Custody Wallet ➜ https://tangem.com/en/ Use Code PBN for Additional Discounts!
~ The Best Crypto Exchange ➜ Coinbase, get up to $200 in crypto - coinbase-consumer.sjv.io/BARRON
~ Looking for the best tax havens for Crypto? Free Month with iTrust Capital ➜ Use PROMO CODE - PAUL BARRON https://rebrand.ly/PAULBARRON
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Trump has unchained Crypto. Today, we're going to be breaking
down a whole bunch of news. You don't want to
miss it. Let's just jump right in. I do want
to thank our sponsor today, and.
Speaker 2 (00:07):
That is BTCC.
Speaker 1 (00:09):
This is a new exchange for our channel that you
guys can get in on, and they're giving a ten
percent first time bonus and a whole array of features
here just by using our link, all sign ups can
unlock secret community awards, also extra bonuses of up to
ten thousand bucks per user enjoy up to forty percent
lower trading fees. So check it out over there, guys.
(00:31):
Whether you're here in the US or a broad does
not matter. You can begin to get into crypto over
on BTCC. Use the link down below to get started. Now,
I want to lead off with a couple of points
right here, and that is the S and P five
hundred futures have surged nearly one percent. This is new
record highs following a cooler than expected a September CPI.
(00:52):
That's right, we got a CPI report. This is a
rare exception during this shutdown, but it's in. And then,
of course, right here, Pop comes in and says the
government just reported on inflation three percent, but that's wrong.
Trueflation is showing an inflation that's actually two point three.
And if you look at the broken metric around CPI.
We've talked about this quite a bit on our show.
(01:14):
Is when you look at true faflation, right here is
the year trading down on that low which was back
here in April skyrocketing, if you want to call it that.
But this is considerably down and starting to go sideways.
So has it stabilized is the question? And if it has,
then this gets into the point of where the FED
can maybe start cutting or continuing cut rates to kind
(01:38):
of save the job market and make sure the economy
doesn't fall into harm's way. Another thing that it pushes
is how is this data going to be looked at
in the future.
Speaker 2 (01:48):
Take a look at this clip with Tom Lee.
Speaker 3 (01:51):
Do you throw it all out now and say we
can't use this or how do you view it?
Speaker 2 (01:55):
Yes.
Speaker 4 (01:55):
One of the issues is, of course, algorithmic systems and
quant systems take that survey result and they put on
trades and the FED has to react to that because
that's the FED cares about anchored expectations, and.
Speaker 3 (02:06):
There's just three surveys. They look at that. The New
York Fed and Conference Board HUMISH changed their methodology. They
used to do telephone calls, they now do one hundred
percent online. They mail it out, email it to people.
Are the surveys only being emailed to certain people now
or are they only you know? Is there a finger
(02:28):
on the scale. We don't know, but it's the process.
Has I think become polluted? Yeah, and so do you
guys now just disqualified and don't look at that survey anyone.
Speaker 4 (02:36):
Well, we still reflect it because, believe it or not,
most of our clients will point to the say, tum
inflation's out of control.
Speaker 3 (02:44):
Look what the UMISH says.
Speaker 4 (02:45):
And then if as I try to explain to them
the methodology from they're like, how come you're the only
one pointing this out?
Speaker 3 (02:51):
So we're smart?
Speaker 4 (02:52):
Yeah, So I think prediction markets are the answer. So
I think polymarkets of the world, where they're like, what
is the CPI a year from now? Might be better
signal than using these surveys. I mean, I think that's
it's going to push us towards alternative Like even using
trueflation is better than looking at CPI.
Speaker 1 (03:13):
All right, So I'm in agreement with this. It's what
we talk about on this channel probably for the last
couple of years, is that the CPI data typically is
either underreported or in many cases already wrong when you
get it. And in all cases with the FED, it's
always lagging data, which is another problem in itself. And
(03:33):
Tom goes in to talk about prediction markets, and I
would agree with that. I think prediction markets could be
a big bellweather to the future of data, but the
real data is going to come with some sort of oracle.
That's the link obviously with chain link, what's going on
with true inflation. I agree with that as well. I
think there's going to be something that gets integrated into
some of the key reporting systems around labor That would
(03:54):
be interesting because that opens up a whole new plethora
of data that we haven't seen outside ADP, and I
think Gusto would be another one that could be done.
But there is some opportunity here to get much better
and more refined data going forward, and prediction markets could
be the key forward for sure. Speaking of that poly market,
this is breaking because this is the CMO of poly
(04:17):
Market talking about there will be a poly market token
and an air drop to boot, so that itself is
going to explode what poly market is doing? All right,
So let's jump over to a poly market and take
a look at the FED raycut potential. This is federate
cuts in twenty twenty five what we're talking about right now.
Zoom in on that for you guys, we've already had
(04:39):
one quarterbasis point. So the point is is two more
October December. Likelihood of January is my question mark, and
right now it was around thirty five to forty percent
for January. That would be three consecutive rate cuts potentially
going into this. So again, this is the FED responding
to what is happening with inflation in general.
Speaker 2 (05:00):
Other things you got to look at.
Speaker 1 (05:01):
Of course, Peter Shift's out there talking about the annual
price increases by the CPI underestimates the magnitude of the
rise of the design and the index rows three percent
year over year. This is fifty percent above what the
Fed's target rate is. But I do believe, and Darius
and I have talked Darris Dale forty two Macro, go
out and research them. We talked about this before. Is
the likelihood is that the FED is most likely going
(05:22):
to raise their target rate. That would be big because
it would start to restructure the entire system and possibly
do it around collecting new data. That would be the
intriguing part going forward. I want to go to a
clip real quick because this clip will get into the
fact that government shutdown is continuing to impact what's going
(05:43):
on with crypto.
Speaker 5 (05:44):
Take a look the SEC and the CFTC. They're operating
with less than ten percent of their staff. So the
technical assistance that the Senate Agriculture Committee needs from the
CFTC to draft this bill isn't there. They are on furlough.
Once we see the government shut down end, which hopefully
will be soon, it's going on quite long here, we'll
(06:06):
have more technical assistance available to help them craft the legislation.
But I do think the government shutdown is slowing down
that process right now.
Speaker 1 (06:15):
While it is slowing it down, there are insiders and
people in DC that believe there is work going on
behind the scenes. And obviously we know that from just
what's been happening around the Clarity Act, but also just
the genius side of things when it comes to you know,
the bank lobby that's working overtime right now trying to
take your yield. Go watch our video on that. But
(06:38):
this clip goes into we may get a surprise market
structure bill and here's why.
Speaker 2 (06:42):
Take a look.
Speaker 6 (06:44):
But I got to ask, anyways, what do you think
in you know, as quickly.
Speaker 5 (06:47):
As reasonable possible, reasonably possible.
Speaker 6 (06:49):
Six months here, let's get the Democratic and Republican staff
members back in the room. You know, my Republican friends say, well, gosh,
we don't even want to meet with you guys until
you set a date. That seems to me to be backwards,
you know, because of this snap on with this document
getting out and being leaked again, and we lost two weeks.
That was a shame. Let's get them back in the room.
(07:10):
Like this is. I don't want to sound like I'm
a broken record, you know, this is kind of like
the same pitch I'm making right now. Please President Trump,
sit down and let's get the government reopened, and let's
get the healthcare cliff avoided. You're the great deal maker.
We can do it in a couple hours. I did
notice I didn't give you a definitive timeline. I said
that I am very optimistic that once we get folks
(07:31):
in the room. This is I think you're going to
be surprised because one thing about this, having done this
a long time, it's slow, slow, slow, slow, and then
it moves very quickly.
Speaker 1 (07:41):
Yeah, I agree with Warner is that there is a
somewhat of a pent up demand within our political sphere.
Is that a lot of these deals are still being discussed,
a lot of these UH situations that are causing such
divisiveness are possibly being resolved right now. And of course,
if President Trump can possibly closed the gap there, then
(08:01):
we could see a very big acceleration toward a reopening
and then of course a huge launch into ETF approvals. Obviously,
what we'll see on the Clarity Act all sorts of
things that we'll play into a positive nature on the
crypto market. Looking at the government shutdown ending date right now,
polymarket is pushing it out further to November nineteenth, and
(08:24):
that percentage has now gone up to forty four point
eight percent, So it's definitely climbing as we go into November.
Let me know in the comments, when you guys think
this is going to happen, you think we hit it
before Thanksgiving, Because I think this is going to happen
before Thanksgiving, And that's what Brian was talking about Armstrong
COO at Coinbase was talking about just the other day,
(08:45):
is he thinks that we could get market clarity before Thanksgiving?
And he had this weird smirk on his face. I'm
telling you that he knows something. I don't know what
he knows, but that's what I think.
Speaker 2 (08:54):
All right.
Speaker 1 (08:54):
So you guys, remember we were talking about this issue
yesterday's show about the three o'clock, which I still felt
like was going to be kind of a nothing burger anyway.
In fact it was. But there was a part in
that interview, in that statement to the press, where Trump
addressed the situation with cz Take a look.
Speaker 7 (09:12):
People say that, are you talking about the crypto person?
A lot of people say that he wasn't guilty of anything.
He served four months in jail, and they say that
he was not guilty of anything. That what he did, Well,
you don't know much about crypto. You know nothing about
you know nothing about nothing. You fake news. But let
me just tell you that he was somebody that, as
(09:33):
I was told, I don't know. I don't believe I've
ever met him, but I've been told a lot of support.
He had a lot of support. And they said that
what he did is not even a crime. It wasn't
a crime that he was persecuted by the Biden administration,
and so I gave him a partner at the request
of a lot of very good people.
Speaker 1 (09:53):
Remember that CZ struck a deal and this was all
about where he would be in the crypto industry. And
I think that's going to probably end up going away
right now if you look at the possibility of him
Mary's resuming his role at Binance by the end of
the year. This has risen quite a bit since this pardon.
So what are we at thirty eight percent right now?
(10:14):
Zoom in on that for you guys, so you can
kind of see. But that's the kind of spike that
we're talking about right now in terms of polymarket. Now,
Rushard Adams kind of broke this down right here that
he was to the Trump's point, he was unfairly targeted.
But also I'm in agreement with Ryan on this is
that presidential pardons shouldn't be for sale, and we do
know that that is kind of the case that has
(10:35):
taken place. Other than that, you've got to look at
some other things around this pardon. One of course, is
CZ's doing the new bull, potentially a new bull run
for binance because remember bian still is the coinbase for
the rest of the world, so its impact on the
market can be real. And if you look at this
(10:56):
unexpected development obviously since BMB this was in reference to
the pardon percent now back over eleven hundred traders now
calling for this one to be the biggest catalyst.
Speaker 2 (11:04):
Of the year.
Speaker 1 (11:05):
If Finance can get back in the game, yes, it
would have an impact on the market in general. Other
points that this will roll into is the amount of
fight right now that is happening between DC and of course,
you know Senator Warren, she's got to take a note
of this and go after crypto again.
Speaker 2 (11:24):
So what does she do.
Speaker 1 (11:25):
She goes in right here and says, yeah, this is
where it's bad guys, you know, letting bad guys go.
And then she gets community noted as saying that you know,
this was the situation, but he did not plead guilty
to money laundering, which is what she was claiming. And
of course cz came back in and responded as well,
after many others had responded. But she can't get her
(11:45):
facts right. Typical things. But Senator Warren is a pro politician.
She understands how to weaponize this stuff and use it
to try to move along talking points within mainstream media
not here, which, of course you know, Senator Warren, You're
welcome to come on any time to talk about crypto
and how good it is for the economy and people.
All right, So who's next, Well, it could be mister
(12:05):
Sam Bankman Freed holding it a ten percent, a little
bit of a wally, but definitely up off the floor
which was around three percent not very long ago.
Speaker 2 (12:14):
So I don't know.
Speaker 1 (12:15):
Let me have into the comments if you guys think
that SBF is next up on the pardon list coming
out of the White House.
Speaker 2 (12:22):
Love to see that, all right.
Speaker 1 (12:23):
So one other point that kind of flows into this,
this is Scott Melker kind of talking about Maxine Waters
on the pardon. Of course, Trump is doing massive favors
for crypto criminals who.
Speaker 2 (12:34):
Have helped line his pockets.
Speaker 1 (12:37):
Oh but we might have forgot something, yeah that, Oh
there was that thing. The Internet just never forgets, right guys,
Oh yeah, it never forgets, never forgets. There'll be memes
of this going on for a while, of course, with
miss Maxine Waters and SBF, and I just wonder how
much this is going to cost SBF to get this pardon.
All right, So with that, you've got Peter's shift going
(13:00):
into the market, trying to get a very thirsty debate
with CZ about gold versus bitcoin, and now.
Speaker 2 (13:08):
He wants Elon Musk to do it or Joe Rogan.
I don't think that's going to happen, guys, but I
don't know.
Speaker 7 (13:14):
Peter.
Speaker 2 (13:14):
You can come on our show.
Speaker 1 (13:15):
We're not a Joe Rogan, but we'd be happy to
talk about it because we're a crypto show.
Speaker 2 (13:20):
Let's go over to other news.
Speaker 1 (13:21):
JP Morgan is going to let clients use bitcoin and
ethereum as collateral for loans.
Speaker 2 (13:26):
This will be big if it.
Speaker 1 (13:29):
Lines up with what's out there now most likely, and
I would assume this is going to be over collateralized
like most crypto assets because of volatility.
Speaker 2 (13:38):
But the fact that.
Speaker 1 (13:38):
They're doing this starts to open things up a little bit.
Speaker 2 (13:41):
Expected launch my end of this year.
Speaker 1 (13:44):
This is going to rely on third party custodian, which
I imagine will be crypto related. And when you look
at this, which is it's building on JPM Morgan's earlier
decision in June to accept crypto exchange trade of fun
ETF says collateral as well. So all of this again
very very positive crypto in general, even though it is
the old guard trying to play into the game. One
(14:05):
other thing to consider here, and this was in reference
to Federal Reserve Governor Waller's statements this week, and this
is in reference to the skinny Master account. Okay, because
this basically gives stable coin issues the ability to bypass banks.
The only reason you need to Wells Pharaoh account is
to paychecks for paychecks and pay bills, right, Okay, most
(14:26):
of you we talked about this a lot. Is that
the minute we get a crypto friendly bank account, whether
it's coming from Robinhood or it's coming from coinbase or
whoever it might be, it will change the game. The
other thing that plays into this is the circumvention of
this issue around stable cooin yield, because the issuers can't
give it to you, but the exchanges right now can.
(14:47):
But the banks they're over here fighting saying wait, no,
we don't want that loophole in there at all.
Speaker 2 (14:52):
So maybe the route through this is.
Speaker 1 (14:55):
In through these exchanges and right in to DeFi, and
that of course changes things upically, Remember that we're talking
about old banks for mortgages and loans, but now everything
else on coinbase that will tie into DeFi, and it's
the gateway drug which I think anybody under the age
of thirty five and probably people even more that will
(15:18):
go in to DeFi based on these kinds of scenarios.
And all of this is going to lie in one place, guys,
and that's ethereum. Ethereum is going to be the big
winner here. So the banks will fight this, but crypto
will win it.
Speaker 2 (15:29):
And I agree.
Speaker 1 (15:29):
I think we are at that point in time where
this thing is unstoppable and when it comes to the
dollar and the devaluation of it, nothing stops his train.
Speaker 2 (15:39):
As len Alden would.
Speaker 1 (15:40):
Say, other points I want to hit on right here,
and that is JP Morgan permitting bitcoin and eth as
loan collateral. They're talking about this. Having worked at Blackrock,
I've seen how these incremental steps from the launch of
the eth ETFs to the use of eth as a
collateral steadily build institutional confidence. So imagine how quickly that
(16:01):
has happened. That's this year twenty twenty five. You've had regulation,
You've had a complete flip by an administration and all
of the instruments that of dominated Wall Street are now
starting to make their way into crypto. And this is
less than one year. Imagine where we are in another
twelve months or possibly twenty four messages clear, high quality
(16:23):
digital assets like eth will become integral to the modern
financial system.
Speaker 2 (16:28):
You guys know that.
Speaker 1 (16:28):
Because you're ahead of the game, your way out there
in front. You're here at the beginning of the Internet.
Think about that, the beginning of the Internet. For the
first time in history, though, the major US stock trading
occurs off exchange. And this is where it gets interesting
because why because these buds are out there doing it
(16:48):
in these dark pools where you can't see anything.
Speaker 2 (16:51):
That's how they're beating you. They're beating you in the
stock market because of that.
Speaker 1 (16:55):
This is going to change, guys, and it's going to
change the finance industry and Wall Street forever.
Speaker 2 (17:00):
And you finally are there.
Speaker 1 (17:01):
It's much like the Internet, change commerce, change how you
consume content. This is where we are in the future
of crypto. All right, You guys know what to do.
Get in on the diamond circle. It's a great place
to get additional content from me. You can do that
for free. Just click the link down below, follow me
on x at Paul Baron. I'll catch you next time
right here on The Paul Baron Show.
Trump has unchained Crypto. Today, we're going to be breaking
down a whole bunch of news. You don't want to
miss it. Let's just jump right in. I do want
to thank our sponsor today, and.
Speaker 2 (00:07):
That is BTCC.
Speaker 1 (00:09):
This is a new exchange for our channel that you
guys can get in on, and they're giving a ten
percent first time bonus and a whole array of features
here just by using our link, all sign ups can
unlock secret community awards, also extra bonuses of up to
ten thousand bucks per user enjoy up to forty percent
lower trading fees. So check it out over there, guys.
(00:31):
Whether you're here in the US or a broad does
not matter. You can begin to get into crypto over
on BTCC. Use the link down below to get started. Now,
I want to lead off with a couple of points
right here, and that is the S and P five
hundred futures have surged nearly one percent. This is new
record highs following a cooler than expected a September CPI.
(00:52):
That's right, we got a CPI report. This is a
rare exception during this shutdown, but it's in. And then,
of course, right here, Pop comes in and says the
government just reported on inflation three percent, but that's wrong.
Trueflation is showing an inflation that's actually two point three.
And if you look at the broken metric around CPI.
We've talked about this quite a bit on our show.
(01:14):
Is when you look at true faflation, right here is
the year trading down on that low which was back
here in April skyrocketing, if you want to call it that.
But this is considerably down and starting to go sideways.
So has it stabilized is the question? And if it has,
then this gets into the point of where the FED
can maybe start cutting or continuing cut rates to kind
(01:38):
of save the job market and make sure the economy
doesn't fall into harm's way. Another thing that it pushes
is how is this data going to be looked at
in the future.
Speaker 2 (01:48):
Take a look at this clip with Tom Lee.
Speaker 3 (01:51):
Do you throw it all out now and say we
can't use this or how do you view it?
Speaker 2 (01:55):
Yes.
Speaker 4 (01:55):
One of the issues is, of course, algorithmic systems and
quant systems take that survey result and they put on
trades and the FED has to react to that because
that's the FED cares about anchored expectations, and.
Speaker 3 (02:06):
There's just three surveys. They look at that. The New
York Fed and Conference Board HUMISH changed their methodology. They
used to do telephone calls, they now do one hundred
percent online. They mail it out, email it to people.
Are the surveys only being emailed to certain people now
or are they only you know? Is there a finger
(02:28):
on the scale. We don't know, but it's the process.
Has I think become polluted? Yeah, and so do you
guys now just disqualified and don't look at that survey anyone.
Speaker 4 (02:36):
Well, we still reflect it because, believe it or not,
most of our clients will point to the say, tum
inflation's out of control.
Speaker 3 (02:44):
Look what the UMISH says.
Speaker 4 (02:45):
And then if as I try to explain to them
the methodology from they're like, how come you're the only
one pointing this out?
Speaker 3 (02:51):
So we're smart?
Speaker 4 (02:52):
Yeah, So I think prediction markets are the answer. So
I think polymarkets of the world, where they're like, what
is the CPI a year from now? Might be better
signal than using these surveys. I mean, I think that's
it's going to push us towards alternative Like even using
trueflation is better than looking at CPI.
Speaker 1 (03:13):
All right, So I'm in agreement with this. It's what
we talk about on this channel probably for the last
couple of years, is that the CPI data typically is
either underreported or in many cases already wrong when you
get it. And in all cases with the FED, it's
always lagging data, which is another problem in itself. And
(03:33):
Tom goes in to talk about prediction markets, and I
would agree with that. I think prediction markets could be
a big bellweather to the future of data, but the
real data is going to come with some sort of oracle.
That's the link obviously with chain link, what's going on
with true inflation. I agree with that as well. I
think there's going to be something that gets integrated into
some of the key reporting systems around labor That would
(03:54):
be interesting because that opens up a whole new plethora
of data that we haven't seen outside ADP, and I
think Gusto would be another one that could be done.
But there is some opportunity here to get much better
and more refined data going forward, and prediction markets could
be the key forward for sure. Speaking of that poly market,
this is breaking because this is the CMO of poly
(04:17):
Market talking about there will be a poly market token
and an air drop to boot, so that itself is
going to explode what poly market is doing? All right,
So let's jump over to a poly market and take
a look at the FED raycut potential. This is federate
cuts in twenty twenty five what we're talking about right now.
Zoom in on that for you guys, we've already had
(04:39):
one quarterbasis point. So the point is is two more
October December. Likelihood of January is my question mark, and
right now it was around thirty five to forty percent
for January. That would be three consecutive rate cuts potentially
going into this. So again, this is the FED responding
to what is happening with inflation in general.
Speaker 2 (05:00):
Other things you got to look at.
Speaker 1 (05:01):
Of course, Peter Shift's out there talking about the annual
price increases by the CPI underestimates the magnitude of the
rise of the design and the index rows three percent
year over year. This is fifty percent above what the
Fed's target rate is. But I do believe, and Darius
and I have talked Darris Dale forty two Macro, go
out and research them. We talked about this before. Is
the likelihood is that the FED is most likely going
(05:22):
to raise their target rate. That would be big because
it would start to restructure the entire system and possibly
do it around collecting new data. That would be the
intriguing part going forward. I want to go to a
clip real quick because this clip will get into the
fact that government shutdown is continuing to impact what's going
(05:43):
on with crypto.
Speaker 5 (05:44):
Take a look the SEC and the CFTC. They're operating
with less than ten percent of their staff. So the
technical assistance that the Senate Agriculture Committee needs from the
CFTC to draft this bill isn't there. They are on furlough.
Once we see the government shut down end, which hopefully
will be soon, it's going on quite long here, we'll
(06:06):
have more technical assistance available to help them craft the legislation.
But I do think the government shutdown is slowing down
that process right now.
Speaker 1 (06:15):
While it is slowing it down, there are insiders and
people in DC that believe there is work going on
behind the scenes. And obviously we know that from just
what's been happening around the Clarity Act, but also just
the genius side of things when it comes to you know,
the bank lobby that's working overtime right now trying to
take your yield. Go watch our video on that. But
(06:38):
this clip goes into we may get a surprise market
structure bill and here's why.
Speaker 2 (06:42):
Take a look.
Speaker 6 (06:44):
But I got to ask, anyways, what do you think
in you know, as quickly.
Speaker 5 (06:47):
As reasonable possible, reasonably possible.
Speaker 6 (06:49):
Six months here, let's get the Democratic and Republican staff
members back in the room. You know, my Republican friends say, well, gosh,
we don't even want to meet with you guys until
you set a date. That seems to me to be backwards,
you know, because of this snap on with this document
getting out and being leaked again, and we lost two weeks.
That was a shame. Let's get them back in the room.
(07:10):
Like this is. I don't want to sound like I'm
a broken record, you know, this is kind of like
the same pitch I'm making right now. Please President Trump,
sit down and let's get the government reopened, and let's
get the healthcare cliff avoided. You're the great deal maker.
We can do it in a couple hours. I did
notice I didn't give you a definitive timeline. I said
that I am very optimistic that once we get folks
(07:31):
in the room. This is I think you're going to
be surprised because one thing about this, having done this
a long time, it's slow, slow, slow, slow, and then
it moves very quickly.
Speaker 1 (07:41):
Yeah, I agree with Warner is that there is a
somewhat of a pent up demand within our political sphere.
Is that a lot of these deals are still being discussed,
a lot of these UH situations that are causing such
divisiveness are possibly being resolved right now. And of course,
if President Trump can possibly closed the gap there, then
(08:01):
we could see a very big acceleration toward a reopening
and then of course a huge launch into ETF approvals. Obviously,
what we'll see on the Clarity Act all sorts of
things that we'll play into a positive nature on the
crypto market. Looking at the government shutdown ending date right now,
polymarket is pushing it out further to November nineteenth, and
(08:24):
that percentage has now gone up to forty four point
eight percent, So it's definitely climbing as we go into November.
Let me know in the comments, when you guys think
this is going to happen, you think we hit it
before Thanksgiving, Because I think this is going to happen
before Thanksgiving, And that's what Brian was talking about Armstrong
COO at Coinbase was talking about just the other day,
(08:45):
is he thinks that we could get market clarity before Thanksgiving?
And he had this weird smirk on his face. I'm
telling you that he knows something. I don't know what
he knows, but that's what I think.
Speaker 2 (08:54):
All right.
Speaker 1 (08:54):
So you guys, remember we were talking about this issue
yesterday's show about the three o'clock, which I still felt
like was going to be kind of a nothing burger anyway.
In fact it was. But there was a part in
that interview, in that statement to the press, where Trump
addressed the situation with cz Take a look.
Speaker 7 (09:12):
People say that, are you talking about the crypto person?
A lot of people say that he wasn't guilty of anything.
He served four months in jail, and they say that
he was not guilty of anything. That what he did, Well,
you don't know much about crypto. You know nothing about
you know nothing about nothing. You fake news. But let
me just tell you that he was somebody that, as
(09:33):
I was told, I don't know. I don't believe I've
ever met him, but I've been told a lot of support.
He had a lot of support. And they said that
what he did is not even a crime. It wasn't
a crime that he was persecuted by the Biden administration,
and so I gave him a partner at the request
of a lot of very good people.
Speaker 1 (09:53):
Remember that CZ struck a deal and this was all
about where he would be in the crypto industry. And
I think that's going to probably end up going away
right now if you look at the possibility of him
Mary's resuming his role at Binance by the end of
the year. This has risen quite a bit since this pardon.
So what are we at thirty eight percent right now?
(10:14):
Zoom in on that for you guys, so you can
kind of see. But that's the kind of spike that
we're talking about right now in terms of polymarket. Now,
Rushard Adams kind of broke this down right here that
he was to the Trump's point, he was unfairly targeted.
But also I'm in agreement with Ryan on this is
that presidential pardons shouldn't be for sale, and we do
know that that is kind of the case that has
(10:35):
taken place. Other than that, you've got to look at
some other things around this pardon. One of course, is
CZ's doing the new bull, potentially a new bull run
for binance because remember bian still is the coinbase for
the rest of the world, so its impact on the
market can be real. And if you look at this
(10:56):
unexpected development obviously since BMB this was in reference to
the pardon percent now back over eleven hundred traders now
calling for this one to be the biggest catalyst.
Speaker 2 (11:04):
Of the year.
Speaker 1 (11:05):
If Finance can get back in the game, yes, it
would have an impact on the market in general. Other
points that this will roll into is the amount of
fight right now that is happening between DC and of course,
you know Senator Warren, she's got to take a note
of this and go after crypto again.
Speaker 2 (11:24):
So what does she do.
Speaker 1 (11:25):
She goes in right here and says, yeah, this is
where it's bad guys, you know, letting bad guys go.
And then she gets community noted as saying that you know,
this was the situation, but he did not plead guilty
to money laundering, which is what she was claiming. And
of course cz came back in and responded as well,
after many others had responded. But she can't get her
(11:45):
facts right. Typical things. But Senator Warren is a pro politician.
She understands how to weaponize this stuff and use it
to try to move along talking points within mainstream media
not here, which, of course you know, Senator Warren, You're
welcome to come on any time to talk about crypto
and how good it is for the economy and people.
All right, So who's next, Well, it could be mister
(12:05):
Sam Bankman Freed holding it a ten percent, a little
bit of a wally, but definitely up off the floor
which was around three percent not very long ago.
Speaker 2 (12:14):
So I don't know.
Speaker 1 (12:15):
Let me have into the comments if you guys think
that SBF is next up on the pardon list coming
out of the White House.
Speaker 2 (12:22):
Love to see that, all right.
Speaker 1 (12:23):
So one other point that kind of flows into this,
this is Scott Melker kind of talking about Maxine Waters
on the pardon. Of course, Trump is doing massive favors
for crypto criminals who.
Speaker 2 (12:34):
Have helped line his pockets.
Speaker 1 (12:37):
Oh but we might have forgot something, yeah that, Oh
there was that thing. The Internet just never forgets, right guys,
Oh yeah, it never forgets, never forgets. There'll be memes
of this going on for a while, of course, with
miss Maxine Waters and SBF, and I just wonder how
much this is going to cost SBF to get this pardon.
All right, So with that, you've got Peter's shift going
(13:00):
into the market, trying to get a very thirsty debate
with CZ about gold versus bitcoin, and now.
Speaker 2 (13:08):
He wants Elon Musk to do it or Joe Rogan.
I don't think that's going to happen, guys, but I
don't know.
Speaker 7 (13:14):
Peter.
Speaker 2 (13:14):
You can come on our show.
Speaker 1 (13:15):
We're not a Joe Rogan, but we'd be happy to
talk about it because we're a crypto show.
Speaker 2 (13:20):
Let's go over to other news.
Speaker 1 (13:21):
JP Morgan is going to let clients use bitcoin and
ethereum as collateral for loans.
Speaker 2 (13:26):
This will be big if it.
Speaker 1 (13:29):
Lines up with what's out there now most likely, and
I would assume this is going to be over collateralized
like most crypto assets because of volatility.
Speaker 2 (13:38):
But the fact that.
Speaker 1 (13:38):
They're doing this starts to open things up a little bit.
Speaker 2 (13:41):
Expected launch my end of this year.
Speaker 1 (13:44):
This is going to rely on third party custodian, which
I imagine will be crypto related. And when you look
at this, which is it's building on JPM Morgan's earlier
decision in June to accept crypto exchange trade of fun
ETF says collateral as well. So all of this again
very very positive crypto in general, even though it is
the old guard trying to play into the game. One
(14:05):
other thing to consider here, and this was in reference
to Federal Reserve Governor Waller's statements this week, and this
is in reference to the skinny Master account. Okay, because
this basically gives stable coin issues the ability to bypass banks.
The only reason you need to Wells Pharaoh account is
to paychecks for paychecks and pay bills, right, Okay, most
(14:26):
of you we talked about this a lot. Is that
the minute we get a crypto friendly bank account, whether
it's coming from Robinhood or it's coming from coinbase or
whoever it might be, it will change the game. The
other thing that plays into this is the circumvention of
this issue around stable cooin yield, because the issuers can't
give it to you, but the exchanges right now can.
(14:47):
But the banks they're over here fighting saying wait, no,
we don't want that loophole in there at all.
Speaker 2 (14:52):
So maybe the route through this is.
Speaker 1 (14:55):
In through these exchanges and right in to DeFi, and
that of course changes things upically, Remember that we're talking
about old banks for mortgages and loans, but now everything
else on coinbase that will tie into DeFi, and it's
the gateway drug which I think anybody under the age
of thirty five and probably people even more that will
(15:18):
go in to DeFi based on these kinds of scenarios.
And all of this is going to lie in one place, guys,
and that's ethereum. Ethereum is going to be the big
winner here. So the banks will fight this, but crypto
will win it.
Speaker 2 (15:29):
And I agree.
Speaker 1 (15:29):
I think we are at that point in time where
this thing is unstoppable and when it comes to the
dollar and the devaluation of it, nothing stops his train.
Speaker 2 (15:39):
As len Alden would.
Speaker 1 (15:40):
Say, other points I want to hit on right here,
and that is JP Morgan permitting bitcoin and eth as
loan collateral. They're talking about this. Having worked at Blackrock,
I've seen how these incremental steps from the launch of
the eth ETFs to the use of eth as a
collateral steadily build institutional confidence. So imagine how quickly that
(16:01):
has happened. That's this year twenty twenty five. You've had regulation,
You've had a complete flip by an administration and all
of the instruments that of dominated Wall Street are now
starting to make their way into crypto. And this is
less than one year. Imagine where we are in another
twelve months or possibly twenty four messages clear, high quality
(16:23):
digital assets like eth will become integral to the modern
financial system.
Speaker 2 (16:28):
You guys know that.
Speaker 1 (16:28):
Because you're ahead of the game, your way out there
in front. You're here at the beginning of the Internet.
Think about that, the beginning of the Internet. For the
first time in history, though, the major US stock trading
occurs off exchange. And this is where it gets interesting
because why because these buds are out there doing it
(16:48):
in these dark pools where you can't see anything.
Speaker 2 (16:51):
That's how they're beating you. They're beating you in the
stock market because of that.
Speaker 1 (16:55):
This is going to change, guys, and it's going to
change the finance industry and Wall Street forever.
Speaker 2 (17:00):
And you finally are there.
Speaker 1 (17:01):
It's much like the Internet, change commerce, change how you
consume content. This is where we are in the future
of crypto. All right, You guys know what to do.
Get in on the diamond circle. It's a great place
to get additional content from me. You can do that
for free. Just click the link down below, follow me
on x at Paul Baron. I'll catch you next time
right here on The Paul Baron Show.
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