BIG NEWS! CFTC CRYPTO DERIVATIVES APPROVAL, RIPPLE XRP RLUSD LICENSE, & JAMIE DIMON TOKENIZATION!

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The CFDC approves crypto to be used in derivatives trading.
This is huge. Ripple Score is a massive license in
Singapore to use XRP and r l U s D
and JP. Morgan's CEO, Jamie Diamond, is on TV today
promoting crypto, blockchain, tokenization and stable coins. You have to
see the video. Let's get into it, hey, folks, welcome

(00:25):
into the Thinking Crypto podcast, your home for cryptocurrency news
and the 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 comment below. If
you're listening on a podcast platform such as Spotify or Apple,
please leave a five star rating and review. Folks. Huge
news coming out of the CFTC today. So the headline

(00:46):
is the CFDC clearest path for eth bitcoin and USDC
stable coin to be used as collateral in the derivatives markets.
So Caroline fam the acting chair, has been doing an
amazing job. She's kind of the low person there when
it comes to the commissioners, but she's been getting a
lot done. They have the crypto sprint and they've been

(01:06):
working alongside the SEC as well. Here's what Caroline Fam
tweeted out on x I'm launching a digital assets pilot
program for Bitcoin, ETH and USDC that will protect Americans
under the US rules when you use CFTC brokers to
keep your crypto safe. Our new guidance will enable tokenize
markets and we're cutting red tape that is outdated onwards.

(01:29):
She said, the guidance provides regulatory clarity and opens the
door for more digital assets to be added as collateral
by exchanges and brokers, in addition to US treasuries and
money market funds. And she shared some different quotes some
folks like coinbase, Circle, Crypto, dot com, ripple, and much more.
This is incredible. Here's what Paul Growall, chief legal officer

(01:52):
at Coinbase said. Today's no action relief from the CFTC
unlocks the use of digital assets as collateral indeed derivatives
markets Staff Advisory twenty Dash thirty four was a concreek
ceiling for innovation. It relied on outdated info, went well
beyond the bounds of regulation, and frustrated the goals of

(02:13):
the PWG. Thank you Acting Cherio Caroline Fam for your
vision and leadership. Folks, we are seeing the infrastructure being
set up here by trad FI regulators and crypto native
firms to allow crypto to be used in different ways.
We're seeing the financialization of this acid class, different products
being created, new rules, and much more. All of that

(02:35):
will lead to more liquidity, the maturation and growth of
the acid class, and higher price valuations. But of course,
as always, you got to be patient, You've got to
have the macro view. These things are still being built
out here. Now, folks, We've got big news around Ripple.
They scored an expanded license in Singapore, so they had
an existing license, but this expands it. So I'll give

(02:55):
you the details here. So the key takeaways are the
Monetary Authority of Singapore has expanded Ripple's MPI license, allowing
the company to offer a much wider range of regulated
payment services and marking a notable regulatory milestone for the
company's operations in Singapore. Ripple first secured a full MPI
license in twenty twenty three, enabling digital payment token services

(03:19):
but limiting comprehensive end to end payment capabilities. Under the
restrictions were removed, Ripple first secured a full MPI license
in twenty twenty three, enabling digital payment token services but
limiting comprehensive end to end payment capabilities until the restrictions
were removed in the twenty twenty five expansion. The upgraded

(03:40):
license now permits full cross border payment processing regulated XRP
and rl USD services, liquidity solutions on and off ramps,
and enterprise grade settlement tools under Singapore's strict oversight. The
expanded license positions Ripple to meet the rising into intutional

(04:00):
demand across Asia Pacific, compete in major remittance corridors, offer
XRP and urus D based services, and strengthen relationships with
the regional regulators. Huge win here for Ripple folks. And
you can see clearly they are going to be using
XRP and their stable coin in early USD in different ways,
you know, depending on the need of the client they're

(04:22):
working with. So you want to have the licenses and
now the shackles are off, so to speak, and they
can do a lot more. So, very bullish news. Here's
what Ripples CEO Brad garlingd House tweeted out today. He says,
in less than four weeks and now XRPS the fastest
crypto spot ETF to reach one billion dollars in AUM
since eight in the United States, with over forty crypto

(04:45):
ETFs launch this year in the US alone, A few
points are obvious to me. One, there is pent up
demand for regulated crypto products, and with Vanguard opening up
access in traditional retirement slash trading accounts for Americans, crypto
is now accessible to millions more people who don't need
to be experts in the technology. Number two, longevity, stability,

(05:08):
and community are all underrated themes that matter to this
set of new off chain crypto holders. So he's absolutely right.
And as he highlighted, the XRP ETF has been the
fastest to one billion. It beats Solana's ETF launch, So
there's clearly demand for XRP and this is very bullish.
If you hold XRP now, it's also very important to

(05:31):
be diversified. I personally hold Bitcoin, XRP, Etheroreum, Solona and
some others. Obviously, you don't want to spread yourself too thin,
but I'm betting on you know, these top horses, so
to speak, and many of you may recall Ripple raised
five hundred million dollars recently with a forty billion valuation.
We could potentially see Ripple go public in twenty twenty six.

(05:51):
As you know, we're seeing that is being set as
the year of the IPOs. And I keep bringing it
up to you guys who to hell IPOs and a
bear market? Some people, we are entering into a bear market.
In a bear market, there is less liquidity, liquidity is
drying up. You don't get the same valuations, the higher
valuations that you do in a boat market. So why
is the SEC chair these stock exchanges and these companies

(06:15):
like Greyscale, crack In and others. Why is SpaceX targeting
a twenty twenty six IPO and just talks about opening
eye doing that as well. Something's not adding up here, right.
So in order to navigate the markets, you can't just
look at charts. You get to look at the macro
and you got to look at the onchain data. Those
three things combined help you to get a three sixty
view of the market. So look, we'll have to wait

(06:37):
and see. But I'm just seeing macro and market factors
here not aligning with a bear market narrative. So we'll
have to wait and see, folks. This episode is brought
to you by I Trust Capital, which is a great
platform that gives you an awesome alternative to invest and
custody your crypto assets. So I Trust Capital allows you

(06:58):
to invest via an I a self directed IRA, and
if you have an existing four oh one k or IRA,
you can roll it over to I Trust Capital and
it allows you to invest in eighty plus crypto assets,
trade twenty four to seven and there's low costs and
no monthly fee. You can also trade gold and silver,
so we've been seeing the performance of gold and silver.

(07:19):
So you have the opportunity to do it here through
I Trust Capital. And of course there's huge, huge tax benefits. Right,
that's one of the key value propositions here is the
tax benefits because you all know when you buy and
sell you're entering a taxable event. But if you do
it through an IRA, very different. Right, So if you
have a long term view on crypto, this is a

(07:39):
great option. Now you may say, well what about the
custody aspect, Well, guys, they have what's called a premium
custody account, and this premium custody account uses institutional grade
crypto custody. So we're not talking about I Trust Capital
holding it in their accounts, but rather they're using coinbased
prime fire blocks fidelity, so they're using institutional bank tiered

(08:04):
custodial services, so you can trust it, right, And this
is what the institutions like black Rock use, right and
the other folks. So you're getting top of the level
institutional custody that is backed by insurance and all those things.
And it's not going to be something that's easily hackable, right,
So that's the point. And they have a closed loop system,
so even if someone got into your account, they can't withdraw,

(08:25):
it's not possible for them to withdraw the assets. So
this is where this premium custody account I believe is
second to self custody. So I believe in self custody.
Many of you know I hold a lot of my
assets on hardware welts. But this is also a great
solution where you can sleep at night and know that

(08:45):
your assets are protected. So again, institutional custody, closed loop system.
You can buy and sell twenty four to seven. It
has low fees, and this is what the institutions are using.
You know this level of custody, so be sure to
check out I Trust Capital, folks, and if you use
my link, you can get one hundred dollars funding bonus,
So check them out. I have an account with them.

(09:07):
Great option once again to invest in crypto, to get
tax benefits, and to safely custody your assets. Check out
the link in the description to learn more. Now, folks,
our favorite banker you know, I'm joking, Jamie Diamond was
on Fox today and he's of course the CEO of
JP Morgan for those of you don't know, and he
has been a longtime detractor, skeptic, craig of crypto, but

(09:31):
now he's bending the knee. JP Morgan is tognizing launching
crypto services and much more. Right so, crypto has won,
you know, as the saying goes, first they ignore you,
then they laugh at you, then they fight you, and
then you win. Let me play the clip of what
he had to say today.

Speaker 2 (09:46):
We moved sixteen trillion dollars the other day and one
day sixteen trillion. It goes through email systems, or risk systems,
sanctious systems, fraud systems, O fact systems. You know, it's cheap,
it's fast. So we've always been using technology do a
better job for the client, and we're going to do
the same thing in tokenization. So tokenization blockchain is real.
It's been around for quite a while, but now it's

(10:08):
becoming more effective, more efficient because people are finding ways
to do it faster and cheaper. Permission or not permission.
Smart contracts I think will probably be real. We're working
on stable coin and we have a Jaymoton deposit already
and think of it as a token, which is a
deposit we could pay interest on it, and as a
payment system and a network. We're involved. If we can

(10:29):
use things like that to do something better, faster, cheaper
for clients, We're going.

Speaker 1 (10:32):
To Wow, folks, isn't that amazing to hear Jamie Diamond
say those things and talking about their moving trillions of
dollars with this system and all that. And this is
why you watch what they do, not what they say.
Now we know that JP Morgan's actually doing these things
because we've seen the reports and the tests with different
blockchains like Ono and others. Right, So yes, you could say,

(10:56):
well Jamie just saying that, Well no, but we verify
that he has done this, and we've seen the announcements
and the patents and the filings. They are doing all
these things. So crypto is one folks, and he has
to bend the knee here, not him, but all the
banks and many of them who are fighting crypto. And look,
some of them are still trying to fight, like Citadel
right or trying to tag DeFi. This talks about JP

(11:18):
Morgan debanking certain people. I think it was Jack Maler's
recently they got debanked. But again, crypto has won. Even
if they continue to put up a fight. You know,
they will love to stop some of the DeFi aspect
of the market because they want to control everything. They
will love to still knock out some of these crypto
native firms, but that's not going to happen, I believe

(11:39):
because market structure is coming and under this administration we
have a pro crypto, crypto friendly environment, so there's nobody
to lobby here like Elizabeth Warner Gary Ganster to do anything.
And speaking of banks, look at this news. Bank of America, Wells, Pargo,
and City Group CEOs are set to meet with senators
Thursday to discuss crypto market legislation, per Bloomberg. So we

(12:03):
don't have more details about this, you know, we'll have
to wait and see, but you know, are they meeting
to try to push the market structure, build through, or
to make major changes. Because what we've been also hearing
is that these banks don't like that you can earn
high yield on stable coins, are staking on exchanges like
uphold or coinbase. They don't like that. Because we've talked

(12:25):
a lot about it. The money you have in your
savings account, they're giving you next to nothing right on interest.
I don't have to tell you guys that, I'm sure
many of you have experienced it while they're pocketing a
lot of that interest right, So they don't like it.
But the crypto market and or A should say, the
crypto industry is fighting back. So let's see what this
is about. You know, you got to watch these guys closely.

(12:45):
They've been at this game for a long time. They
know how to lobby, they know how to get things done.
They've got a lot of money. But look disruptions here
and a lot of them are capitulating, and there may
be one or two things they don't like that you're
doing with crypto that they want to stop. So we
have to keep fighting. And look at this, folks, the
SEC has closed their probe against Onto Finance. Now many

(13:08):
of you know I hold the Ondo token in my portfolio.
And this is a Biden era crypto crackdown. So this
investigation didn't start under this SEC under Paul Atkins, but
rather under Ginster. And we know the SEC is wrapping
a lot of these things up right. We've seen a
lot of cases and Ripple and others, so it was
just a matter of time, and it's great to see

(13:30):
this is coming to an end. It's very good for
Ondo and what they're doing with tokenization and for the
token holders, so very very big. Many of you may
have caught my interview with Nathan Alman, the founder and
CEO of Ondo Finance. I interviewed him at Chainling smart Con,
so if you haven't seen that interview, check it out.
But they're doing some great things, working with many of
the big banks to tokenize in much more now. Folks,

(13:53):
look at this black Rock files for listing staked Ether ETF.
I am waiting for them to file for their x
RP and Solana ETF. I think that's down the road,
but Blackrock continues to build and invest and I hope
you guys see what's happening here. So in a Friday
filing with the SEC, Blackrock file a Form S one

(14:13):
registration statement for its I shares staked Ethereum Trust Exchange
Traded Fund. The filing is part of the SEC's process
for companies to list investment vehicles such as ETFs, but
does not guarantee and approval. I think we all know
it's going to get approved, right there's other staking ETFs
that got approve already in the market. But many times

(14:34):
if Blackrock wont something, they're going to get it. Okay,
moving ahead, Argentina weighs letting traditional banks trade crypto. Let
me give you the answer right away. If you know
if they're weighing yes or no, it's going to be yes. Folks.
We're seeing across the globe, all of these folks are
jumping in and they're going to put out their reporse.

(14:55):
We're thinking about it, and YadA, YadA, they're gonna do it.
I have often stated that any country that bans cryptos
writing their economic death sentence. So Argentina is considering allowing
local financial institutions to engage more directly with cryptocurrencies, in
a move that would mark a significant shift from its
restrictive stance, according to a local media report. According to

(15:19):
a Friday report by local news outlet La Nacion Banco
Central de la Republica Argentina, Argentina's central bank is considering
allowing traditional banks to trade cryptocurrencies. The story cited sources
close to the organization. So, folks, we know it's coming
all the banks. You know, yesterday we talked about one

(15:41):
of the banks in France that is opening up crypto
trading on the app. So these are all major on
ramps being built across the globe that will bring more
liquidity into the market drive prices higher. So I've often
stated we are still relatively early to other asset classes.
So it's still a great opportunity to buy the blood
and stre to buy the dips, don't buy pumps right

(16:02):
hold and be patient because the infrastructure is being built here,
which is really incredible. Now we've got a bunch of
crypto exchange news. So Circle and Bybit deepen USDC partnership
as stable Coin near's eighty billion dollars. So Circle, the
publicly listed issuer of one of the biggest US dollars
stable coins globally, has entered into a strategic partnership with

(16:25):
cryptocurrency exchange Bibit. Bybit entered partnership with an affiliate of
Circle to expand liquidity and usability of its USDC stable coin,
According to a joint announcement on Monday, here's a quote.
The partnership aims to expand USDC access across bibit's global ecosystem,
strengthening liquidity of the world's largest regulated stable coin, and

(16:46):
reinforce bibit's position as a regulatory compliant platform committed to
transparency and trust. So once again, the expansion, the mergers
and acquisitions, the investments, it is happening at a rapid folks.
We're seeing exchanges, stable coin issuers, wallet services and much more.
Building bridges, building on ramps across the globe. So this

(17:10):
is really great to see. You know, everybody knows what's
coming crypto market structure, mass adoption of crypto assets, so
everybody's trying to grab as much of the market share
as possible. Here's another example. Coinbase mounts a cautious comeback
in India two years after exit. So India has been
very bipolar when it comes to crypto. Right one day,

(17:32):
it's like China banning it and then two months later unbanning.
It's just a mess. But here are the details. Coinbase
has resumed app registrations in India as it prepares to
roll out local fiat on rams. In twenty twenty six,
Coinbase APAC director John Laughlin from Saying that Right announced
that India Blockchain Week. According to a sun that reported

(17:52):
by tech Crunch. And here's another example, Robinhood is sent
to enter Indonesia targeting seventeen million crypto traders. Many of
you may have caught my interview with Robin Hood's CEO
of lat Tentev, and they've got big plans for crypto folks.
And I've often stated they've got the money, the resources,
a great team, and they've got the customer base to

(18:15):
really really make a dent in the crypto market. Because
for years they've had a huge set of customers trading
stocks and other equities, so it's easy to just poort
them over to crypto and just diversify their portfolio accordingly.
So this is a big strategic move here by Robin Hood.
So in an announcement on Sunday, Robinhood said it had
entered into agreements to acquire Bewana Capital and Indonesian Brokerage

(18:40):
and pt peda gang asset crypto some name there a
licensed Indonesian digital financial asset trader, marking our entry into
one of Southeast Asia's fastest growing markets. It is said
that Indonesia has more than nineteen million capital markets investors

(19:00):
in seventeen million crypto investors, making it a compelling market
for equities in crypto trading. So exciting times, folks. Lots
of building, lots of expansion. I think twenty twenty six
is looking like it could be a bullish year. Obviously
that's not a guarantee, right, We're talking probabilities here because

(19:21):
no one has a crystal ball, but it's there's a
lot of building and setting up for what looks like
a massive blow up top coming in twenty twenty six. Again,
you may not agree with me, but I hope you
appreciate the facts I'm sharing about the macro, some of
the charts and some of the on chain data. Now, yes,
there are bearer signals on the charts. I'm not ignoring that.

(19:43):
And if you saw my interview on Cheddar News that
I did last week at the New York Stock Exchange,
I talked about that. Right, there is some uncertainty here
and we're going to have to wait and see how
the market plays out. But one thing's for sure, guys
on the macro, we notice acid class is going to
continue to grow. What do you think is going to
happen when that market Structure bill passes. That's going to

(20:04):
unlock tons of liquidity to come into the market, tons
of innovation. We are going to see crypto explode like
never before. Right now, what we're seeing is this just
the tippitty iceberg. You know, some of these banks and
these folks launching small things tokenizing, but they're not at
the point of where they're going to push it to
the masses yet because they need that clarity, right. They
don't want to get in trouble, they don't want to

(20:25):
get a lawsuit and all that stuff. So patients is
the key here. And I hope you see where we're
at in the timeline and what's on the horizon. Folks,
that's the news. Let me know what you think. Leave
your thoughts and comments below, hit the thumbs up button
subscribe if you haven't as yet, be sure to support
the podcast by subscribing to my free email newsletter. It
is one hundred percent free. Check out my book on

(20:45):
Amazon It's available in paperback, in digital, and my course
at mycryptocourse dot com. This is a comprehensive course that
you guse you everything you need to know about crypto folks,
thank you for tuning in. I appreciate you all, and
I'll talk to you all later

All Episodes

Episode Transcript

Popular Podcasts

Las Culturistas with Matt Rogers and Bowen Yang

The Joe Rogan Experience

Stuff You Should Know

.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;}BIG NEWS! CFTC CRYPTO DERIVATIVES APPROVAL, RIPPLE XRP RLUSD LICENSE, & JAMIE DIMON TOKENIZATION!

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;}Las Culturistas with Matt Rogers and Bowen Yang

The Joe Rogan Experience

Stuff You Should Know

All Episodes

BIG NEWS! CFTC CRYPTO DERIVATIVES APPROVAL, RIPPLE XRP RLUSD LICENSE, & JAMIE DIMON TOKENIZATION!

Las Culturistas with Matt Rogers and Bowen Yang