BANKS GOING ALL IN ON CRYPTO! JPMORGAN BITCOIN BOND & US BANK STELLAR STABLECOIN!

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Banks are going all in on crypto, as JP Morgan
launches a bitcoin backed bond and US Bank is launching
a stable coin on the Stellar blockchain, and there are
major developments around black Rocks bitcoin ETF. I'll give you
the details. Let's get into it. Hey, everybody, welcome into

(00:23):
the Thinking Crypto podcast, your home for cryptocurrency news and interviews.
I'm your host, Tony Edward. On your way in. Please
sit that subscribe button as well as a thumbs up
button and leave a comment below. If you're listening on
a podcast platform such as Spotify or Apple, please leave
a five star rating and review. Folks. I want to
highlight that bitcoin is currently back over ninety thousand dollars,

(00:45):
so we are seeing that reversal. However, as we've been
discussing over the past week or so, we need more confirmation,
we need to see more strength. And what this could
be setting up is just simply a relief rally or
a debt cat pounds that could roll over to or lows,
or it could be the start of the slow, steady
grind to hit new all time highs. And that's where

(01:07):
we're gonna have to be patient. No one has a
crystal ball. But we're gonna look at what plays out
over the next few weeks and even months, and this
is certainly make or break time for bitcoin. You know,
will this rally continue to hire highs or is it
done and we are entering a full blown bear market.
Now I'm leaning more towards the side that there's still

(01:30):
more in this bull market even if this correction takes
a long time. Bitcoin chop sideways because the macro is
setting up with the FED end in quantitative tightening and
a whole bunch of other factors which I've been sharing
with you guys at nauseum. So again, good sign, but
we need more confirmation. We got to get back above
that two hundred day moving average for bitcoin before we
can start getting excited again. So patients is the key here.

(01:53):
We're also seeing some movement on the stock market, so
let's see where all of this heads. Now. Very interesting.
We got black Rock and a bunch of other people
are buying the dip, so ATF inflows are on the
rise again, one hundred and thirty million dollars of inflows
into the bitcoin ETFs yesterday. Eric Belchunza Bloomberg says this

(02:14):
is mitigating one week of outflow to six hundred million
dollars and keeping the total departure to less than five
percent of the assets under management. Boomer is hanging in
tough in the face of a fire they didn't start.
That's a great way to put it. So we've been
seeing a lot of people are buying these bigcoin e
t aps. Just yesterday we talked about Texas buying five

(02:36):
million dollars of bitcoin ETF from black Rock. So people
are buying and that's a good sign, right. They're anticipating
whether it be once again the relief rally to and
then they take profits, or a continual move to all
time highs. And specifically with black Rocks Bitcoin ETF, they
bought nine hundred and fifty three bigcoin yesterday, so their
total amount that they hold is now at seven hundred

(02:59):
and seventy seven thousand bitcoin. And when you look at
the chart of the accumulation since the ETF was launched,
you have your peaks and valleys, but yet the overall
trend is upwards, right, so they continue to grow over time,
So it's pretty incredible. They're not bearish on this, and
look at this. Blackrock continues to accumulate bitcoin in its

(03:19):
in house funds. In a filing today, Blackrock Strategic Income
Opportunities Portfolio reported owning two million, three hundred and ninety seven,
four hundred and twenty three shares of IBID valued at
one hundred and fifty five point eight million dollars as
of September thirtieth. That's a fourteen percent increase from two million,
ninety six thousand, four hundred and forty seven shares reported

(03:41):
as of June. So what they're doing, they're taking their
own bitcoin ETF and dispersing it into their other funds
within the Blackrock umbrella. And that's very bullish because they
anticipate that this will grow, so they're putting it into
these other funds and that's helping those other funds as well.
So this is very bullish. Now. In addition, again I

(04:05):
said there was going to be a lot of black
Rock bigcoin ETF news. The NASDAQ has filed with the
SEC to raise option limits on BlackRock's IBIT bitcoin ETF
to one million contracts, the maximum level allowed, So they're
pushing this up from twenty five thousand to one million. Here.
Adam Livings then shared his thoughts on this, he says,

(04:27):
that is forty x more room for institutional derivatives exposure
to move from twenty five thousand to one million contracts.
He says this is the transition point from ETF adoption
phase to derivatives market phase, and Bitcoin's price discovery always
goes vertical when derivative scale. Bitcoin just got promoted to

(04:48):
a megacap status. The rule filing literally says they're going
to do this because ibit has reached the same level
of market caap, liquidity and trading frequency as the biggest stocks.
So he's saying this is incredibly bullish for a bitcoin. Now,
speaking of ETFs, today, we had the bit Wise those
coinytf go live. I actually interviewed Matt Hogan, the chief

(05:10):
investment officer a bit Wise today. That interview should be
published next week or so, and we talked a bit
about this. Their XRP and Salona ETFs. So the ETFs
keep going live, guys, this is really great. And here
Grayscale has filed with the SEC to list these z
cash ETFs. So z cash has been performing really well
as one of the privacy tokens. I don't hold it

(05:30):
in my portfolio. If you do congrats, you probably made
some good money if you bought, you know, in the lows.
But you know, I never buy into pumps. I don't
chase pumps. I wait for when these coins are down,
then I buy and that allows me to make the
most money. So great to see that these asset managers
are bullish on the all coin ETFs and they're filing

(05:51):
to launch them and much more now, folks, This episode
is brought to you by Treasure. Treasure is the maker
of beautiful hardware wealls that make it easy for you
to self custod of your crypto assets. I'm a user
of the Treasure devices. I use the Treasure Save five
and the Treasure is Save seven, which is their brand
new device they just released a couple of months ago,
and you can order that right now and get it

(06:12):
shipped to you right now. It's quantum ready and much more,
tons of new features and top of the line security.
And folks. Treasure they were the ones who created hardware wallets.
They started all of this back in twenty thirteen. Their
hardware wallets are open source. The code is out there
for anybody to see. That's how much they trust what
they've built. The code is out there for anybody to review.

(06:32):
And they support all the major assets, so Bitcoin, Etheroreum, Solana, XRP, Cardano,
dosh coin, you name it. And they have a great
software suite that helps you to manage all of this
and you can buy and sell within the software. And
they also have a handholding service, so if you sign
up with the service, you can speak to a Treasure rep.
They help walk you through the whole process of setting

(06:53):
your device up and don't worry you don't They don't
ask you for your private keys or anything like that.
And folks, right now they have a black Frida sale
going on where you can get up to forty percent
off some of these devices, so huge discount. This will
be the time to just grab the devices guys and
get it at a cheaper price. So if you'd like
to learn more, please visit the link in the description. Now, folks,

(07:16):
look at this news US bank. I'm not sure how
many of you know about them, but they've been getting
involved with crypto in different ways over the years. Well
now they are testing a custom stable coin issuance on
the Stellar blockchain. That's huge. I know some of you
listening and watching you own the XLM token, which is
the native token of the Stellar blockchain. I have some

(07:38):
XLM in my portfolio, so this is huge validation of
this technology and big adoption news for Stellar. So Steller
posted the news and said, real infrastructure testing for regulated
deposit tokens, the kind that could reshape how banks move money.
So this is great news if you are an XLM
token holder that Stellar is getting this level of adoption.

(08:00):
Many of you may recall I interviewed as the Stellar
Foundation's CEO, Danell Dixon just about a month ago, So
if you haven't seen that interview, be sure to check
it out. Yeah, four weeks ago I interviewed her. So
they're doing a lot of great things. And if you
want to learn more about Stellar, check out that interview.
Now here's another example of banks adopting crypto. Bitcoin dip

(08:22):
in twenty twenty six surge in twenty twenty eight. JP
Morgan's IBIT linked structure note fits having cycles. So JP Morgan,
despite years of Jamie Diamond bashing bitcoin and crypto, they've capitulated,
They've gone all in. So JP Morgan Chase has introduced
a structured note linked to Blackrocks ibit that matches bitcoin's

(08:43):
four year having cycle. The note provides a guaranteed minimum
return of sixteen percent if Bitcoin's price meets certain conditions
by twenty twenty six, with potential for amplified gains by
twenty twenty eight. So this is very interesting. The new product,
filed with the regulators this week, according to Bloomberg, offers
investors a chance at potentially uncapped returns if bitcoins price

(09:07):
remains below a certain level in twenty twenty six but
rallies strongly by the end of twenty twenty eight. This
setup fits neatly with bitcoins historically observed for your cycle,
where the cryptocurrency typically slips into a prolonged bear market
approximately two years after a having event, followed by a
renewed bull run in the having years and a year
after since the most recent having took place in twenty

(09:30):
twenty four. Bitcoin is expected to face a downtrain in
twenty twenty six. So the structure note comes at a
time when institutional players from Wall Street are seeking package
crypto exposure nuanced strategic bets to ride Bitcoin's rollercoaster trends.
So guys, look what the banks are doing. I mean
it's incredible, right, whether they're launching new financial products like

(09:51):
what JP Morgan's doing here ETFs a trading desk, or
custody launching their own stable corner using stable coins tokenizing. Right,
we're seeing all of those things on the table here.
It's incredible. What's happening now? Anthony Scaramucci, a founder of
Skybridge Capel. He says, I don't think people are fully
understanding how huge it is that JP morgan is now
offering a bitcoin back bond. So everybody who heard this

(10:15):
news today were like, wow, this is this is huge.
Now moving ahead, this is some interesting news around Tether.
So the SMP downgrades us DT's dollar peg rating to
the lowest score. So USDT, of course the stable coin
issued by Tether, and this is from SMP's Global Ratings,
and it's it's really weird. The folks at Tether are saying,

(10:36):
this is, you know, a misleading So SMP Global Ratings
has downgraded Tether's us DT to the low score on
its stable Coin Stability scale, questioning the token's ability to
maintain its dollar peg. Now, it's funny these type of
news items always appear when Bitcoin is down, so it's
you have to really watch out because I've seen this

(10:59):
for years. I've been here since twenty sixteen. Every time
somebody comes out with some sort of foot whether they're
I guess they're trying to short the companies are short
bitcoin and so forth. So they put out these narratives.
So the weak assessment was due to several factors, including
tethers backing USDT with higher risk assets such as bitcoin, gold, loans,
and corporate bonds that are subject to higher volatility according

(11:22):
to SMP Global. So this is what the SMP is saying.
Here's what Paolo Ardino, CEO of Tether, says to SMP
regarding your tether rating. We are or we wear your
loathing with pride. The classical rating models built for legacy
financial institutions historically led private and institutional investors to invest

(11:42):
their wealth into companies that, despite being attributed investment grade ratings, collapse,
pushing worldwide regulators to challenge such models. The independence and
objective assessment of all major rating agencies. The traditional finance
propaganda machine is growing worried when any company tries defied
a force of gravity of the broken financial system. No

(12:05):
company should dare to decouple itself from it. Tether instead
of built the first over capitalized company in the financial
industry with no toxic reserves and yet is and remains
extremely profitable. Tether is living proof that the financial traditional
financial system is so broken that it's becoming feared by
the emperors with no clothes. Interesting. So Tether is backed

(12:27):
by Canter Fitzgerald, which was founded by Howard Lutnick, who
works with the Trump administration. So I think we're past
the fud from you know, years ago and much more so.
I don't see this as some issue honestly. And Tether,
you know, they're now in the United States operating they're
going to launch a new stable coin us AT. So yeah,

(12:49):
I don't see this as any major issue. Now, look
at this, Finance launches concierge crypto service, pro wealth Managers,
family offices, so on rams being set up for capital
to come into the market and from wealthy folks. Of course,
so Binance we all know, is the world's largest crypto exchange.
Many retail users use them across the globe. But if

(13:10):
they're able to build the same service for these big
wealthy players, that's going to bring in a lot of money.
So according to the exchange on Wednesday. The new service
offers personalized onboarding with dedicated managers, support for over one
hundred FIAT currencies, and access to tailor structured products. The
service also includes credit lines, institutional grade custody through partnered custodians,

(13:33):
and real time analytics and reporting tools designed to give
professional investors clear visibility into their portfolios. Binance said the
new product is a response to affluent investors in traditional
finance who are entering crypto markets and are unsure of
how to navigate this space effectively. So as crypto grows
as an asset class, a lot of wealthy individuals are

(13:54):
going to come in and they of course expect the
same white glove service and set up that track. And
I think that's being built out now by many different folks,
not just Binance. Moving ahead, Robinhood moves into the prediction
markets with FTX linked acquisition. So Robinhood has been expanding

(14:14):
incredibly fast with crypto. They're tognizing they're doing a lot,
and the prediction markets makes sense. It's a natural progression
of what they do. So a company with ties to
the defunct crypto exchange FTX is being acquired by Robinhood
Markets and Susquehanna International Group as part of a push
into prediction markets. According to a Reuters report on Tuesday,

(14:37):
Robinhood and Susquehanna will acquire a ninety percent stake in
ledger X, one of the few solvent companies tied to
FTX following its bankruptcy filing in twenty twenty two. Now
they use a lot of FTX here, right, but ledger
x has been fined. They haven't had any issues. The
move came just hours after Robinhood announced the launch of
futures and derivatives platform with options per prediction markets. So

(15:01):
incredible stuff here. Robinhood initially reported the acquisition of a
major stake in miaxdx and exchange and clearinghouse licensed by
the us CFTC. Mia XDX, previously known as ledger X,
was acquired by Miami International Holdings for fifty million dollars
in twenty twenty three amid fdx's bankruptcy. So big move

(15:25):
here by robin Hood, and they're one you got to
watch out for. They've got the customer base, they've got
the brand and recognition and the capital and the resources
to really build out some big things in this market.
If you all recall I interviewed the founder and CEO
of lat Tenev last year and they're doing some big things,
so exciting times, guys. I know the market, we're still

(15:49):
waiting for price action. I know many of you hold
all coins were waiting for a true all season, and
like I said, there is a probability that's going to
happen in twenty twenty six due to macro factors. Obviously,
I can't guarantee that. If I wish I had a
crystal ball or a time machine, I could go and
tell you guys, right, but I don't. But we're gonna
look at the facts, not our emotions. We're not gonna

(16:10):
get emotional here. We're gonna look at what's setting up
and let's see how things play out. You know, from
a macro perspective, I'm still bullish. I've often stated, as
long as central banks are printing money, I am bullish.
So regardless of the short term ebbs and flows macro.
You know, my portfolio is up because I've been buying
at the lows for a long time, and you know

(16:30):
that has worked out really well for me, folks. That's
the news. Let me know what you think. Leave your
thoughts and comments below. A great way you can support
the podcast is by subscribing to my free email newsletter.
It is one hundred percent free on substack. Link would
be in the description. Check out my book on Amazon,
it's available in paperback, in digital, and my course at
Mycrypto course dot com. This is a comprehensive course that

(16:51):
teaches you everything you need to know about crypto and folks.
Right now, I'm offering forty percent off my course using
the code thing capital tchi n K think. You can
use that code at checkout to get forty percent off.
So it's a Black Friday Cyber Monday sale, so you
can get this big discount on the course guys. And

(17:13):
once again, it's comprehensive as tons of videos from experts,
people who are founders, CEOs, institutional investors, and much more.
Has downloadable materials, text writeups of course, so check it out.
It's a great course. You can review the curriculum and
once again grab that Cyber Monday Black Friday deal guys,
forty percent off use the code think capital tchi n K.

(17:37):
Thank you guys for watching and listening. I appreciate you
all and I'll talk to you all later.

All Episodes

Episode Transcript

Popular Podcasts

Stuff You Should Know

Dateline NBC

The Male Room with Dr. Jesse Mills

.css-15opob5{left:0;position:absolute;top:0.8rem;} All Episodes

.css-14f5ked{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:2;overflow:hidden;}BANKS GOING ALL IN ON CRYPTO! JPMORGAN BITCOIN BOND & US BANK STELLAR STABLECOIN!

Episode Transcript

Popular Podcasts

.css-r6mb8g{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:1;overflow:hidden;}Stuff You Should Know

Dateline NBC

The Male Room with Dr. Jesse Mills

All Episodes

BANKS GOING ALL IN ON CRYPTO! JPMORGAN BITCOIN BOND & US BANK STELLAR STABLECOIN!

Stuff You Should Know