JPMORGAN LAUNCHES TOKEN ON COINBASE BASE & FIRST XRP ETF GOING LIVE ON NASDAQ!

Episode Transcript
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Speaker 1 (00:05):
Hey everybody, Welcome into the Thinking Crypto Podcasts. You're home
for cryptocurrency news and interviews. I'm your host, Tony Edward.
On your way in. Please hit 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,
it's a big news day, so make sure you watch

(00:25):
and listen to the end because it's a lot of
important news that you need to know about. First up,
we have the House has approved the Government Reopening Bill,
which will now make its way to President Trump, who's
expected to have that sign tonight. So this is great news.
The government reopening which will have an impact on the
market structure bill, as well as the approval of additional

(00:46):
all coiny taps and liquidity coming in from the Treasury
and much more which will help markets. And in addition,
we got an update from the White House that they
are committed to the two thousand dollars tariff dividend stimulus
checked Americans and even the Treasury Secretary Scott Bessen announced
that the two thousand dollars TWERFF checks will most likely

(01:07):
be going to all Americans who make less than one
hundred thousand dollars a year. So we've been talking about
the table being set here with the government reopening treasury liquidity,
FED cutting rates, FED ending quantitative tightening. December first, the
Fed New York Governor talking about they will return to
quantitative easing's starting to buy securities again. You got the

(01:30):
Market Structure Bill making its way through the Senate, you
got the All Contis, So a lot of narratives here right,
a lot of major milestones and macro factors which I
believe could drive us into a major rally to the
blow off top of this market. I do think this
extends into twenty twenty six. So we've discussed a lot
of this. I've talked about in my newsletter as well.

(01:53):
So we're starting to see it come to fruition here,
but we have to be patient, and the markets are
still very volatile. You know, the Market Structure Bill, the
Senate Agricultures mark up. John Boozman told Bloomberg that they're
committed to early December. So we recently heard about the
bipartisan support here John Boozman, the Republican Senator Corey Booker, Democrat.

(02:14):
They put out a draft right from the Senate Agriculture Committee.
So this is really great, guys, progress being made. Will
the bill itself be passed in December? Doesn't look like
it's going to happen because the government shut down. But
if that is pushed out to twenty twenty six, let's
say Q one, then again, see how the timing is
forming here, right, folks, put your thinking cap on. Now,

(02:37):
we can't just look at charts. We've got to look
at the macro factors because these things do influence markets.
Market makers and Wales, who are the guys who moved
the market, are going to use these things, right, and
I think they're going to bring in retail. It's going
to suck in retail because you have this macro narrative,
plus you got two thousand dollars checks, plus you got
rates being cut by the Fed and much more so. Again,

(03:00):
the table being set here for this bull market to continue.

Speaker 2 (03:03):
We just have to be able.

Speaker 1 (03:04):
To stomach through the volatility that we're seeing. But you know,
as I've been sharing with you guys on the charts,
the macro structure has not been invalidated for bitcoin, So
just keep that in mind. Now tomorrow we got confirmation
that Canary Capital's XRP SPOTTYTF. Now this is the full SPOTTYTF.
The other one that's in the market by rex Osprey

(03:25):
is a mix. It's not one hundred percent spot, it's
partial spot. So this is the first XRP full spot
ETF in the United States to go live, and we
get confirmation here from the Nasdaq that it is indeed
certified to be listed. And here Stephen mcclerg, who is
the CEO of Canary Capital, says, we are very excited
to go effective with the first single token spot XRP ETF.

(03:49):
This would not have been possible without the leadership of
Chairman Atkins, Commissioner Purse, and all the other fine people
at the SEC who are pro free markets.

Speaker 2 (03:58):
Now.

Speaker 1 (03:58):
I interviewed Stephen McClure on Monday. My interview with him
will be published tomorrow. We talk about the XRP SPOTYTF,
the h PAR SPOTTYTF, and the like coins POTYTF. Those
are the three products they launch as far as all coins,
so you don't want to miss this interview, folks. We
talk a lot about what else may be down the line,
his expectations and much more so that interview will be

(04:18):
published in the morning. You don't want to miss it
to make sure you are subscribed, folks. So things are
moving along here. I hope you see the bullet setup.
Despite the price situation that we're in right now. I
know it's a bit tough, but you know, overall again
the macro structure is still intact. Now on the sec front,
we had chair Paul Atkins speak at the Philadelphia FED

(04:40):
Fintech conference and he announced the next step in Project
Crypto That includes establishing a framework or token taxonomy to
categorize digital assets under the US securities laws. So essentially
the SEC is going to give the guidance on what's
the security, what's not and even you know, tokenize assets
and these different things, different types of tokens, Right, where

(05:02):
do they fall what category?

Speaker 2 (05:03):
Right?

Speaker 1 (05:04):
I think that guidance is needed. You know, our icos
which are back again woul Via coinbases platform our security right, right,
So all these things have to be clarified. We still
don't have a full confirmation here. Some of the additional
things that Atkins said is that he acknowledged that the
majority of cryptotokens currently trading are not securities, and that

(05:24):
investment contract doesn't persist solely because the underlying assets trade
on chain. He explained that the Commission's approach to how
securities laws apply to crypto is anchored into how HE tests,
but applied more flexibly and guided by two key principles.
Now Principle one is a stock is still a stock.

(05:44):
A bond is still a bond, even if it's tokenized.
Assets don't change their legal identity just because they're on chain.
Principle two economic reality. Trump's labels. Calling something a token
or NFT doesn't exempt it from securities laws if it
represents profits dependent on managerial effort. So you know, just
as we've been discussing for years with Hester Pursh, John

(06:08):
Deeton and a lot of people who are covering the
sec versus ripple case, anything could be a security depending
on how it's package. Now, inherently tokens on the blockchain
are not securities, but if you package them in a
certain way, you know, similar to how we he use
orange groves.

Speaker 2 (06:25):
So if it's the.

Speaker 1 (06:27):
Orange inherently a security, that means all our oranges that
we eat in our house. So the supermarket are all securities.
But that's ridiculous, right, it was how how we packaged it.
So that's we have to make sure that is clear,
and I think the SEC is looking to provide that guidance.
Some more details here. The proposed token taxonomy currently worked

(06:50):
on by the Crypto Task Force is as follows, network
token slash. Digital commodities equals not securities, Digital collectibles NFTs,
game assets are equals not securities, digital tools, tickets, membership's
credentials equals not securities, tokenized securities, tokenized stocks and bonds

(07:11):
equals are securities. So this is a great summary by
Eleanor Turrett by shout out to her. So we're seeing
progress here and this is the guidance the market needs.
And once you make these things clear, and I believe
some of this will appear in the market structure, build
a clarity act, it will allow more capital to flow

(07:32):
into these different assets.

Speaker 2 (07:33):
Because there are big institutions out there.

Speaker 1 (07:35):
You know, they have their legal teams and they want
to make sure that they're not putting themselves at risk
to get a lawsuit or get into any legal trouble
and all that, right, But if the regulator and the
government says, hey, here's what you can and cannot do
that makes it very easy more capital to come in.
So this is very very bullish nature. Rasi of Novadias

(07:56):
Wealth says the sec chair Atkins provides his current crypto
framework and he gave a quote here from some of
the details to the investor trying to discern the difference
between buying a token I share of stock and buying.

Speaker 2 (08:10):
A collectible in a video game.

Speaker 1 (08:11):
We would offer more than a web of enforcement actions.
And it says, all I can do is clap.

Speaker 2 (08:18):
What is shift?

Speaker 1 (08:18):
So it's night and day right under Genser Scumeback regulator
Gary Ginser, it was brutal, but we now have mature people,
sensible people who are working on these things and looking
at it logically. So this is really great now, folks.
This episode is brought to you by I Trust Capital.
I Trust Capital is offering you a unique way to

(08:39):
invest in crypto and precious metals such as gold and silver.
So I Trust Capital offers a IRA, a self directed
IRA where you can invest in as mentioned crypto assets
and precious metals and you can roll over your existing
four to one k and IRA to this platform and
invest and you can invest in eighty plus crypto assets

(09:00):
US the precious metals as mentioned, and there's twenty four
to seven trading access. There are low fees and no
monthly fees, so this is a great way to get
tax benefits if you want to invest in crypto for
the long run, even precious metals, so great, great way
to do it. And they offer an amazing custodial product
call Premium Custody Accounts.

Speaker 2 (09:22):
Now.

Speaker 1 (09:22):
This is significant because it uses institutional grade custody such
as coinbase Prime, which black Rock and other big institutions use,
in addition to Fidelity and fire blocks and much more.
And it is a closed loop system, so your assets
are isolated within a secure custody environment, and it's seamless
access and transparency. It's regulated and folks, like I said,

(09:46):
other institutions are using this, so I think second to
self custody, this is one of the safest ways to
custody your crypto assets and you can sleep at night.
And they recently added support for privacy coins which have
been going crazy, right z cash they add its dash.
They added zk z Cash obviously is the one that's
been going parabolic, So you can get access to all

(10:07):
the major assets on here guys, and it's easy to
use and once.

Speaker 2 (10:10):
Again tax benefits. Right.

Speaker 1 (10:12):
We know when you sell your crypto there's capital gains tax. Well,
this is a way to help mitigate some of that.
And folks, I have an account with them. If you
use my link you can get one hundred dollars funding bonus,
So be sure to check out I Trust Capital. Link
will be in the description. Now, folks, I want to
talk to you about the biggest capitulation I've seen in
the crypto market, and that is JP Morgan officially launching

(10:36):
their jp md tokenie deposit token on base coinbases layer
eight Ethereum layer two. So I want you to share
this news to the crypto skeptic that you know, maybe
in your family, maybe your friend, or whatever it may be,
because this is significant news. This should be making major headlines.

(10:57):
The world's largest bank, JP Morgan has capitulated that bend
the knee. We see they're going full embrace of crypto.
But if you note a history of jpm coin and
JP Morgan launching Quorum, a private permission blockchain, and now
they are forced to go to public chains, right, this

(11:20):
is incredible. So Brian Armstrong said the first bank issued
USD deposit token JPMD is now available for institutional clients
to use running on base. On chain payments are the future.
This is incredible and some more details here. The JP
Morgan clients can swap the JPMD token for USDC stable

(11:40):
coin on base Simon Taylor one user on excess. This
sentence should break the internet. JP Morgan Payments moves trillions
of dollars per day. It dwarfs the entire stable coin industry. So, folks,
we are seeing massive capitulation. JP Morgan realizing the power
of public blockchains when they were all against it, trying

(12:02):
to shut these public blockchains down, trying to shut coinbase
down with Operation Choke point two point zero, lobbying Elizabeth
Warren and Gary Yanser to attack the industry. Now they
have to bend the knee. Folks, like I said, share
this news with a crypto skeptic because this is a
massive capitulation. It's even greater than JP Morgan offering utability

(12:26):
to invest in crypto because that is okay, we can
make money off of it. But this, oh, we need
to go to the public chains that we were trying
to destroy. We can't use just our private wall garden anymore.
We got to go to the public chains. And what
we've seen is that the way to do it, because
we're going to be in a multi chain world, is

(12:46):
you have to issue your token like the stable cooid
issues are doing on multiple chains to get adoption. So
this is a massive capitulation, folks. The king of the
FIAT Hill Jamie Diamond, Crypto's final boss fully capitulated here.
It's incredible. This is why I'm bullish, not just on
this bullmarket, but future ball markets. I've been saying for

(13:09):
a while. Now the economy, the markets, the governments will
all be running on blockchain rails. Now here's another example
of wall streets expanding their crypto initiatives. Franklin Templeton expands
Benji tokenization platform to the Canton network. Now, for my
avid listeners, you know I've been talking about Canton network.
When that token goes live on exchange, is I'm looking

(13:30):
to buy it now. I'm not going to buy into
the pump. I'm going to wait for the market to
cool down then to grab it. I interviewed the founder
and see of Digital Asset, that's the name of the
firm which is working on a Canton network, and that thing.
This network is backed by Citadel, Goldman, Sachs and a
lot of the Wall Street folks. So it's a privacy

(13:51):
blockchain that is public, So it has the privacy feature
built in and is backed by these institutional investors. So
this is a token I'm going to look to get,
not financial advice to your own research. I'm just sharing
from what I've learned from my research, and you know,
I'll let you know when I do take a position.
Like I said, I don't buy anything when it pumps,
I wait till it pulls back. But you can see

(14:11):
it are getting adoption. So Franklin Templeton has expanded its
tokenization platform and investor platform, Benji, to the Canton network,
making another step in the growth of institutional blockchain infrastructure
for tokenized investment products. The integration, announced Wednesday, connects Franklin
Templeton's proprietary Benji technology platform to Canton, a blockchain network

(14:34):
design for regulated financial institutions. The move enables Benji's tokenized assets,
including its on chain US government money market fund, to
be used as collateral and liquidity within Canton's global collateral network.
Huge News folks, the building continued. These people don't care
about short term price movements. They're not in fear, they're

(14:57):
not depressed. They are just building because they know what's coming.
Here's another example of Visa pilot's fiat funded stable coin
payouts for US businesses. So we continue to see the
major credit card companies Visa, MasterCard and others dabbling with
crypto stable coins tokenizing doing much more so. Payments giant

(15:17):
Visa has launched a pilot in the US allowing US
dollar PEG stable coin payouts to be sent from business
accounts funded using fiat currency such as US dollars. Visa
announced the pilot at the Web Summit in Lisbon, Portugal,
on Wednesday, which allows users of its digital payments network
Visa Direct, to send stable coins such as USDC directly

(15:40):
to a crypto wallet. Folks, do you see what's happening.
We've moved past the fat phase, right, this is all
a scam and all that these people are building. Now
there are still a large part of the public that
are not educated. They're not looking at things like this
and like, wait a minute, why is Visa, why is
JP Moore? All these companies they haven't gone beyond that,

(16:02):
they've read headlines, they've listened to people who are uneducated
on the matter, and they just run with those narratives.
But this is why it's important for you to educate yourself,
understand what's being built here. And like I said, blockchain
rails are going to power the economy, the markets, and
the governments. That is the end game, and assets will
be on the blockchain. Obviously, our fiat currency, the US

(16:24):
dollar or whatever currency you have in your respective country,
it's all going on chain.

Speaker 2 (16:29):
Folks.

Speaker 1 (16:29):
We're headed to a more digital world, not a less
digital world, and blockchain is going to be a big
part of that. So this is incredible to see these
companies adopting the technology, but they have to or as
we've often talked about over the years, they will have
their Blockbuster moment right Blockbuster failed to adapt to the Internet.
They had the opportunity to even buy Netflix, and we

(16:51):
know how that story ended, So same things happening here.
That's why all these guys are scrambling. What can we build,
how can we integrate it, How do we stay ahead
of the curve so we don't get disrupted and we
don't lose revenue and market share and all that stuff.
Final news item UA's Digital Durham CBDC pilot completes first transaction.

(17:12):
So across the globe, everybody's building and expanding and using
this technology. So the United Arab Emirates has made the
first transaction with its central bank digital currency, in the
first major update to the project since it was announced
in March. The United Arab Emirates Ministry of Finance in

(17:32):
Dubai Finance set on Tuesday that the transaction was part
of the pilot phase of the Digital Durham project and
use the government payment platform m Bridge. The agency said
the transaction was a first for the UAE government and
was a step towards broader adoption of the national digital
currency across both government and private sector operations. It's the

(17:55):
first major update on the CBDC since the UAE Central
Bank that in March that it expected the digital currency
would begin its rollout in the fourth quarter of twenty
twenty five. Folks, do I even need to say anything else?
Look at the examples that I have given you, Right
and again, share this information, maybe this podcast, however you

(18:17):
want to share. It doesn't matter, right, but get it
to the skeptics get it to the people who are
not paying attention, say hey, I want you to read
through this and then let's talk, right, because there's an
opportunity here. And look, not everybody is going to care right,
depending on their situation, but you have to recognize what's
coming and you can benefit from that via an investment.

(18:41):
So it would be like someone coming to you in
nineteen ninety three or something like that and saying, hey,
there's this thing called Google, Amazon, eBay. You should check
them out, and you have an opportunity to invest, maybe
buy the stock or whatever it may be, or private
equity and.

Speaker 2 (18:55):
Things like that.

Speaker 1 (18:56):
That's the opportunity that's here, right, So please recognize what's
what's happening. These countries are in these companies and Wall
Street and all the banks. They're not doing this for fun.
They recognize the disruptions at the doorstep. They recognize this
is the future. So they're all building. It is a
global movement and embrace of this asset class and technology. Folks,

(19:20):
that's the news. Let me know what you think. Leave
your thoughts and comments below. Hit the thumbs up button
a great way you can support me in the podcast.
If you appreciated this content is to subscribe to my
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will be in the description. Check out my book on Amazon.
It's available in paperback and digital, and check out my
course at mycryptocourse dot com. This is a comprehensive course

(19:41):
that teaches you everything you need to.

Speaker 2 (19:42):
Know about crypto.

Speaker 1 (19:44):
It includes videos, text write ups, downloadable materials, and much more.
You can check out the curriculum on the website and
you get lifetime access. You can share the access with
your friends and family if you want, go at your
own pace of course. And of course, I regularly update
this course and make sure it has the relevant event
and most up to date information, so check it out.
Go to mycryptocurse dot com. Folks, thank you for tuning in.

(20:06):
I appreciate you all, and I'll talk to you all later.

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