BIG CRYPTO NEWS! FLARE FXRP LIVE! ELIZABETH WARREN ATTACKS & CRYPTO TAXES HEARING!

Episode Transcript
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Speaker 1 (00:05):
Hey, folks, welcome into the Thinking Crypto podcast, your home
for cryptocurrency news and interviews. I'm your host, Tony Edward.
On your way in. Please let that subscribe button as
well as the thumbs up button and leave a common below.
If you're listening on podcast platforms such as Spotify or Apple,
please leave a five star rating and review. Folks, we
have some very big news. The Senate Finance Committee just

(00:27):
announced a hearing next Wednesday, October first, at ten am
on crypto taxes. So the witnesses will include folks, some
coin base, coin center, some law firms. So this is
very interesting and one of the things I tweeted about
today was if the United States is able to pass
some incentives as it relates to crypto taxes, like being

(00:48):
able to spend crypto know anything below a certain threshold
there's no taxes or reduce taxes on capital gains or
things like that. That could really be bullish for the
remainder of the bull market because if it's passed, and
if they put it into let's say the claritiac once again,
would be really great and can be a major narrative

(01:09):
that just drives us into a more parabolic move and
let's see what the takeaway is and what the discussion
is here. But nevertheless, very interesting, and this is one
to keep an eye on because taxes, you know, that's
that's a big part of investment, right the taxman comes
to collect and capital gains taxes. I've often said our

(01:30):
highway robbery by the government. You take your already tax dollars,
you invest in it, you take the risk, you make
some returns, and the government takes a big chunk of it.
That really sucks, right, But you know, if they're able
to offer some sort of crypto tax exemption or incentive,
that will be very bullish for the market. Now moving ahead,

(01:52):
Flair has officially launched fx RP on maynt So the
day is finally here, folks. You got XRP part of
the f assets launch and you will be able to
do a lot with DeFi on the Flare network. You
can use XRP as collateral liquidity and earn yield in DeFi.
So this is really big. I'm gonna be testing some

(02:14):
of this out and I'll let you guys know how
it goes. I'm very bullish on Flair. I hold a
Flair token. Many ven know I hold XRP as well,
So just a huge day that a lot of people
have been waiting for. You know. Flare Day put out
a full writeup on this. You know, the headline is
f assets are Live. XRP meets DeFi on Flair, so
you can put your assets to work. You know, Unlike

(02:35):
proof of steak blockchains and proof of steake coins like
Ethereum and Salana, there's no natively built in yield. But
with DeFi enabled here for XRP, you know, you'll be
able to put your assets to work. And let's say
you're holding the asset long term or you want to
lock it up short term to get some yield. You know,
this is a great opportunity. You know. Most recently, I
interview the co founder and CEO Flair, Hugo Phillyon along

(02:59):
with Heyesus Rodriguez a Firelight which is working with Flair
to enable XRPS thinking. You know, if you haven't seen
that interview, make sure you check it out. It was
published just last week and it covers a lot of
what's happening in the crypto space and they answer a
lot of the questions many folks have about how you
set all this up, the security and much more right

(03:21):
because we want to make sure all these things are secure.
So this is really great. I think a huge day
for both Flair and XRP, and many of you know Flair.
They are going to expand this to Bitcoin, doche Coin, Stellar,
Lumin's light coin as well, So I'm really excited about this,
and once again I'll be testing it out and seeing
how it works, getting familiar with it. I'm not going

(03:43):
to put a ton of XRP on immediately. I always
tell you guys, version one point zero of anything you
want to make sure you take your time, you know,
don't go dump up all your XRP on this. I
think start with a small amount, see how it works,
get comfortable with it, and then you can slowly continue
to add more x RP assets and other assets once
they launch it. So huge, huge day here, folks, years

(04:06):
in the making, folks. Quick word from our sponsor, and
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(04:27):
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(04:48):
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(05:09):
the app once per month, deposit fifty dollars once per month,
and trade fifty dollars once per month. Pretty simple. So
they have a ton more services and so forth that
you can check out. So folks, check out the link
in the description to learn more. Now, moving ahead, Coinbase
Sony and Samsung. Wow, some big names there. Back stable
coin startup Bastion in fourteen point six million dollar rays

(05:32):
Now Coinbase you would expect that is a crypto exchange,
they have a venture arm. But Sony and Samsung tech
electronic makers getting involving crypto. We know Sony they launched
their own blockchain called Sonium. So adoption is happening at
the rapid pace here, So let me give you the
details stable cooin infrastructures. Startup Bastion has raised fourteen point

(05:55):
six million dollars and a funding round let by Coinbase Ventures,
the company said Wednesday. According to a Wednesday announcement, the
round saw the participation of Japanese tech giant Sony, the
investment subsidiary of South Korean phonemaker Samsung, the crypto arm
of venture capital firm andreessen Horowitz, and crypto VC firm
Hashead or hashed. If I'm saying that right, Bashian is

(06:19):
developing a platform that allows companies to issue stable coins
without securing their own licenses or building custom infrastructure. That's
pretty incredible. I think that's technology that's definitely needed for
folks who want to launch their own stable coin. But
they don't want to do anything major where they need
to get money, transmitter licenses and much more so I

(06:40):
think that's a smart move. And once again, look at
the people involve here right, a sixteen z Sony Samsung coinbase.
So the startup has now raised around forty million dollars.
Bashan closed a twenty five million dollar funding round led
by Andresen Howritz in September twenty twenty three. The company
said at the time it had been built in stealth

(07:01):
mode for months before the rays. Incredible stuff here, guys,
we're seeing innovation. Now that the Genius Act has been passed,
which is a stable cooin legislation, you're going to see
a lot of building and innovation in the stable coin space,
a lot of investments as well. And here's a clear example.
And once again look at the names again. If you
know somebody who is a skeptic of crypto who doesn't

(07:23):
get it, they're on the fence, send these news items
to them, right, because look who is involved. These people
recognize what's happening. And there's still millions and billions of
retail who don't get it. They haven't taken that next
step to educate themselves. And go beyond just the price movements. Right,
Don't get me wrong. Price is important. We're invested, you know,

(07:43):
we talk a lot about that. We all have financial goals.
But the adoption, the building, the on rams will all
lead to higher prices, right, And this is an opportunity
of a lifetime. And I think a lot of people
are going to miss it because they read mainstream headlines.
They don't take the next step to go educate themselves. Now, folks,
last week Gary Ginster went on CNBC and he was

(08:04):
spreading foot about crypto. We covered it on the podcast
and I said, watch out, Elizabeth Warren won't be far behind.
That train is never late. The two of them are
two peas in the pod, right, And we know they're
being lobbied by the banking cartel, and we know the
banks are trying to change the language and the Genius Act.
So this is a coordinated effort. And here's the first
move by Elizabeth Warren. Democratic Senators Elizabeth Warren and Alissa

(08:27):
Slotkin are demanding an investigation into whether Trump officials broke
ethics rules. As Trump's family crypto firm, We're Liberty Financial
secured a two billion dollar UAE investment. But of course
she won't be investigating Gary Ginster with the deleted text
because she was colluding with him. Right, of course, she's
not going to provide the data about Operation two point zero,

(08:50):
which she was heading up her and her cronies across
the crypto industry. Of course, not right. So the game
of politics is playing out here. We know Warren is
going to ramp up as the Clarity Act is in
the Senate. Most likely she's going to try to put
up roadblocks and you know, cause a mess. But I
think more Democrats are on board with this. They see
Elizabeth Warren, she helped lose the election, the presidential election

(09:14):
with her anti crypto nonsense. Remember, Crypto was the largest
spender in the presidential election. Crypto got folks unseated like
Sharrod Brown, who is you know, the top general in
Elizabeth Warren's anti crypto army. So recently we saw about
twelve Senate Democrats. You know, they've been releasing their own

(09:35):
version of the Clarity Act. They've been engaging with the
Republican colleagues, and much more so Elizabeth Warren. They've already lost. Right,
she's going to do her thing because she's getting lobbied
by the banks, so she's going to do her thing.
But they're not. It's not going to work. It's over.
They've already lost. And Gainstler crawling out from under his
rock last week, same thing I said, Right, nobody cares

(09:57):
about gainst Her anymore. He's already lost. If you recall,
the orders were roasting him, like people are so happy
you're gone and the new chair is in place and
much more so. But look at this. Krackin donates two
million dollars to procrypto groups as the fight for crypto continues.
So if any Democrat or Republican wants to be anti crypto,
they're going to get their asses handed to them again.

(10:19):
And I hope the crypto industry doesn't have to put
a ton of money because, like I said, I think
a lot of folks learn their lesson in that election
that happened, you know, in twenty twenty fours. But I
think crypto companies are not playing around. They're still putting
the money into the packs and preparing for any you know,
Elizabeth Warren type of candidates, whether they be in the

(10:43):
Senate or the House or whatever it may be. So
so cracking here pledging some money and I know Coinbase
they've got stand with crypto and they're ready to you know,
do their thing all right, moving ahead, speaking of kracking,
Krackincrypto dot Com executives to attend the SEC CFDC harmonization event. So, folks,
we are seeing huge collaboration between the two agencies. The

(11:07):
SEC has Project Crypto, the CFDC has Cryptosprint and they've
been doing an amazing job. Kudos to both sides. And
they're engaging with the crypto industry. Their roundtables being held
in much more so let me give it to details.
So executives from a few cryptocurrency companies will speak on
panels to discuss regulatory harmonization efforts between the two US

(11:30):
financial regulators next week and a Wednesday noticed, the SEC
said it would host a roundtable event with the CFDC
on Monday as part of efforts to coordinate on financial
regulation including cryptocurrencies. Representatives from cryptocurrency exchange Cracket and crypto
dot Com, as well as prediction markets CALSHI and polymarket
will speak on panels, though focus on bridging regulation between

(11:52):
the two agencies. The roundtable event will be held amid
a lack of leadership of the CFDC. So we know
that Commissioner fam is like the last commision understanding and
she's the acting chair and the Brian Contents confirmation. Unfortunately,
it's getting rollblock in many ways, so hopefully the CFTC
can get some things in order. So uh, but you know,

(12:12):
I think she's still doing a great job at being
kind of the lone woman there, you know, from a
commissioner standpoint of course, obviously the CFDC has staff, but
they need to get some commissioners in there. But great
to see progress here. All of this will provide clearer
guidelines and allow more capital to come into the market. Now,
many of you may have seen my posts today, I

(12:33):
interviewed SEC Commissioner Hester Purs at my studio in New York.
Had a great conversation with her. I mean we talked
about the SEC versus Ripple case, Mean Coins, Toganization, Project, Crypto,
all coin ETFs, and the new setup the SEC has
where uh you know, I actually got educated today that
the SEC with the new guidelines they put out last

(12:55):
week doesn't require features. So before that, the guideline, the
setup you need to have the futures now they can
approve Hbar ETF, Cardono ETF. They don't. You don't need
to have a futures market. So this is this is
really a great conversation, guys. The interview is going to
be published next week. It's one of my I think
my best interview with her. You know, one could argue, maybe,

(13:17):
you know, the one where I talked to her about
how we test and the oranges when the sec versus
Ripple case was filed. But this was a good one,
you know, because we reflected on a lot of the
things that happened over the past four years, especially like
the Ripple case and the implications of Judge Taurus is
ruling and much more so. Guys, you don't want to
miss that. Make sure you're a subscribed with the notification

(13:40):
bell enabled and you can catch the episode on YouTube,
on Spotify, Apple and things like that. So really great conversation.
Moving ahead, Canton Network. See how this name keeps popping up, guys.
Remember I interviewed the CEO of Digital Asset, which is
working on the Canton Network. And this is backed by
Goldman Sachs, Citadel and a lot of big banks, and

(14:01):
a lot of big banks are participating on it. It's
a privacy focused public blockchain, so it's pretty unique. But well,
here's the news. Canton Network taps chain Link as super validator,
integrates oracles and ccip many off. You know, I'm bullish
on chain Link. I hold in my portfolio. I think
it's going to do well in this bull market cycle.
Not financial advice. And I keep telling you all chain

(14:22):
Link is not only getting adoption from real world companies,
but also a lot of blockchain networks based on the
services they provide. So I've said many times as well,
when Canton Network launches their token, that's a token, I'm
going to look to invest in and I'll let you
guys know if I do add it to my portfolio,
but definitely check it out. Not financial advice, do your research,
of course. So chain Link has integrated with the Canton

(14:44):
Network and institutional blockchain backed by global banks and technology firms,
in a move aimed at strengthening institutional adoption of blockchain technology.
The partnership announced Wednesday brings chain links data service, including
its data streams, smart data, and the cross chain interoperability
protocol onto the Canton Network. The network has also joined

(15:05):
the chain Link Scale program, which helps cover oracle operating costs.
As part of the agreement, chain Link Labs will become
a Canton network supervalidator. A supervalidator is a combined node
that runs a domain validator in a Canton synchronizer node.
It participates in the global synchronizer to order and finalize

(15:26):
cross domain transactions, providing consensus and interoperability across a network. So, folks,
if you want to learn about the Canton network, check
out my interview from a couple weeks ago with You've
all Ruse and he is the once again the founder
and CEO of Digital Asset. That's the name of the firm,
and they are the creators of the Canton network. So

(15:49):
check that out, folks. All right, final news item here,
thumbs up. Yes, that's the name of the company. Approves
ten million dollars share repurchase plan ahead of those coin
Minds acquisition. So Digital Acid Treasury companies continue to expand,
and they're even going in to doshcoin. I don't know
how this is going to end. You know, I've been

(16:09):
saying this is a bit of a bubble forming here.
You know, I'm not calling for anybody to collapse. I
don't want anything bad to happen. But I just see
warning signs that we've seen in traditional finance, a lot
of leverage putting. You know, everybody's trying to jump on
this trend and some may not, you know, last the
bear market. So digital ad company thumbs Up Media announced

(16:30):
Wednesday its board of directors has approved a ten million
dollars share repurchase program through December thirty first, twenty twenty six,
which comes in addition to its previously announced one million
dollars share buy back program. As of September nineteenth, thumbs
Up had repurchased two hundred and twelve four hundred and
thirty two shares of its common stock for approximately one

(16:52):
million dollars at a weighted average price of four dollars
and seventy one cents per share. The company send in
a release, so thumbs upholes nineteen point one zero six
bitcoins and approximately seven point five million doge coins. According
to Wednesday's release, it is currently a waiting shareholder approval
to acquire doge Hash Technologies, a dogecoin mining operation with

(17:15):
twenty five hundred rigs in place and another thousand schedule
for delivery later this year. Now it's good they have
some bitcoin I think I don't think there's anything wrong
with that. But they got a lot of dogecoins here,
and look, it may work out very well because we've
seen dogecoin has done well so far does bullmarket. It's
still in the top ten if I'm not mistaken. Let

(17:36):
me pull it up here and see. But you know
it's a meme coin. It's gonna be yeah, dose coins
number eight. Now, I mean that's pretty good and there's
a huge brand behind it. But you know, should a
company added to its balance sheet? I don't think that's
the smartest idea. But hey, you know, everybody's got to

(17:57):
do their thing here and you got to do your
risk assessment. So, folks, that's the news. Progress continues to
be made. We're seeing a lot of adoption and patients
is the key as the market does its thing right now,
you all know what I've been saying, right, bears are
in control. Let bitcoin go to the oversoul zone, Let
the sentiment reset and set us up for a blast
off in Q four. Just be patient. You know some

(18:20):
of you may be new to investments. You want absolutes,
you want a crystal ball prediction. But we got to
look at all scenarios as educated investors, and I think
the higher probability based on what we're seeing with global
liquidity hitting new highs, the stock market hitting new eyes.
This bull market's not over. There's still more to go,
and the whales and the market makers want to shake

(18:41):
you out and then have you fomo back in as
the prices start melting faces. So we haven't seen the
euphoric blow off top yet. And crypto legislations on the table,
they's just huge narratives, you know. I mentioned the beginning
of the podcast that hearing next week on crypto taxes.
Something big could come out of that and it once

(19:02):
again add fuel to the fire for this bull market.
So be patient. Be patient, guys, that's the important part.
Leave your emotions at the door. Don't be emotional, be educated.
All right, folks. If you appreciate this content, be sure
to subscribe to my free email newsletter. It is one
hundred percent free. Link will be in the description. Check
out my book on Amazon it's available in paperback and digital,

(19:23):
and my course at Mycrypto course dot com. This is
a comprehensive course that teaches you everything about crypto, so
check it out, folks. Thank you, so much for watching
and listening. I appreciate you all, and I'll talk to
you all later

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