🚨NEW XRP ETFS GO LIVE! VECHAIN TOKENIZATION & JPMORGAN CRYPTO DEBANKING!

Episode Transcript
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Speaker 1 (00:05):
Hey everybody, Welcome into the Thinking Crypto podcast. You're home
for cryptocurrency news and interviews. I'm your host, Tony Edward.

Speaker 2 (00:12):
On your way in.

Speaker 1 (00:13):
Please hit that subscribe button as well as a thumbs
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leave a five star.

Speaker 2 (00:23):
Rating and review. Folks.

Speaker 1 (00:24):
There's nothing new to report on the price. We're still
waiting for bigcoin to make that move, whether that be
a relief rally move or a continuation of the bullmarket
to new all time highs. So at this point it's
a waiting game. If there are major changes, I will
of course let you guys know. But let's jump into
some crypto news.

Speaker 2 (00:41):
Today.

Speaker 1 (00:42):
We had a bunch of xrpce body ttfs go live,
so grey Scales xrp trust ETF went live, so that's
a big one. And also Franklin Templeton launched their xrpce
body TF, so a lot of xrp spoty tf's going
live here guys. And Greyscale also launched their doge coin ETF,
so this is really great. It's going to build a

(01:03):
lot of awareness about these assets. It's going to be another
on ram for people to participate in the crypto market,
and you know, more of the supply to be bought up. Now,
obviously we are in a major correction, so we have
to get out of here before you start to see
these ETFs perform really well. And here Eric Balachunz of
Bloomberg says there are five spot crypto ETFs launching over

(01:26):
the next six days. Beyond that, we don't have exact details,
but we expect a steady supply of them, likely over
one hundred in the next six months. And he shared
a chart here that's his colleague James Seifert, who have
had on the podcast, put together just showing bit wise
as doge Coin ETF, Gray Scales, chain Link ETF as well.

(01:48):
So a lot more is down the pipeline, and you
know you're going to see a lot of all coin
ETFs here. I expect to see Avax, Cardano, more Hbar
ETFs and so on and so forth. Once again, I
know the timing is not great with everything is happening
in the market, but still it's these on rams being
set up are very good for the long term. And

(02:09):
you know, if we do see some sort of relief
rally for bitcoin and all coins start going bananas, you
could see the inflows take up. Now, if the bullmarket continues,
you know, based on let's say my thesis of the
macro factors, and we go to new all time highs,
you're going to see a lot of inflows into these
respective ETOs.

Speaker 2 (02:30):
Now, we have some.

Speaker 1 (02:30):
Interesting news around v chain. So vchain announced today that
they have partner with Record to deliver digital product passports
and RWA infrastructure for the EU market. So vchain has
entered a strategic partnership with Record to accelerate the next
phase of the tokenization infrastructure for real world assets. This

(02:51):
partnership brings together Vchain's battle tested, energy efficient blockchain with
Records API first trust layer which makes data streams tamper
proof with minimal integration effort. Enterprises will be able to
secure logs, documents, and product events on chain without changing
user experience or rebuilding core systems.

Speaker 2 (03:12):
So this is really great adoption for v chain.

Speaker 1 (03:14):
I am a VET token holder, many of you know that,
and I am bulsh on this project too. They continue
to get adoption across the globe from different brands and companies,
and this is a pretty big one. You know, we're
seeing the tokenization trend grow significantly. Everyone is joining the tokenization.

Speaker 2 (03:30):
Race now, folks.

Speaker 1 (03:31):
A great place where you can buy, sell, and stake
your crypto assets is on Uphold. So if you want
to buy v chain or XRP or doge or bitcoin itself,
you can do that on an uphold and they have
three hundred plus cryptocurrencies. They offer staking on twenty plus
crypto assets now. I've been a user of v chain
since twenty eighteen. They're one of my go to exchanges.

(03:52):
I've never had any issues or problems and they've always
been reliable and best of all, they don't commingle or
lend out your crypto assets and they are one hundred
percent reserve. You can review their transparency report on their
website now. They also offer a great rewards program where
you can earn up to five point two five percent
on stable coins and part of the rewards program you

(04:12):
get twenty four hour early access to new tokens that
they list now to stable coin z. The support for
this program is USDC that's issued by Circle you get
two percent. There are l USD which is issued by
Ripple you get five percent. There and USBC you get
five point two five percent there, so great program and
in order to participate, you simply have to open the

(04:33):
app once per month, deposit fifty dollars once per month,
and trade fifty dollars once per month. And folks, they're
doing it the right way. I vetted this. I interviewed
the CEO and many folks, and they're not doing anything
weird or shady like you know firms having the pass.
They are a regulated exchange and they're doing it the
right way. So if you'd like to learn more about Uphold,
check out the link in the description. Now, folks, it

(04:56):
seems Operation Choke point two point zero is not over
and JP Morgan is continuing it. So JP Morgan has
ended banking ties with Strikes CEO Jack Maller So. Senator
Cynthia Lumis even tweeted out about this, and she said,
policies like JP Morgan's undermines confidence in traditional banks and

(05:16):
send the digital assets industry overseas. It's past time we
put Operation Choke point two point zero to rest to
make America the digital asset capital of the world. So
Jack Maller's, you know, I highlighted that they closed his account,
and he's been banking with them for a long time,
but he has made some very scandalous comments about Jamie

(05:38):
Diamond and JP Morgan, talking about you know, the work
they did with Jeffrey Epstein and all that, right, and
he's not wrong, but he's been very public and it
seems like there's some retaliation here because when he asked them,
why have you debanked me?

Speaker 2 (05:53):
And they are like, we're not allowed to tell you.

Speaker 1 (05:55):
So that's weird, right if you did something and they're like, hey,
you did X or why and this is why we're
shutting your account. Okay, you know, you give a valid reason.

Speaker 2 (06:05):
They're just not saying anything.

Speaker 1 (06:06):
So this is clearly some form of retaliation and it
sucks that these banks can do this. They can shut
your account down, don't give you a reason, like what,
But you know the end crypto industry is going to
fight back. We've been winning these battles and we won
the war. Honestly, it's we are in the then you
win phase, right, So these folks that are going to

(06:28):
be in for it as crypto. You know, even crypto
is preparing for the midterms coming up in the election,
So stand where Crypto is going to vet twenty twenty
six candidates on digital asset positions. So Crypto is ready
to spend money again. And anyone who's anti Crypto are
they going to get their assets handed to them again?
Because Crypto was the biggest spender in the twenty twenty

(06:50):
four US elections and we saw how that panned out.
So Jamie Diamond and JP Morgan, they are going to
be in trouble now. They do have a lot of power,
so we'll see what happens. But I think if the
public pressure builds up, plus the pressure from members of Congress,
they're going to have to capitulate or at least give
an answer why they debanked him.

Speaker 2 (07:12):
And let's see if they start to debank other people.

Speaker 1 (07:14):
Even though they have been embracing Crypto, you know, they're
kind of forced to. You know, I don't think they
want to. I think Jamie Diamond is doing it kicking
and screaming. He does not like it at all. But
like I said, we're in the then you win phase. Well,
let's watch this closely. Are these banks, you know, trying
to stop some of these players so they can push
their products and services right that they're building out. Let's

(07:38):
see how this works out now moving ahead, Onto Finance
turns to figures stable coin with twenty five million dollar
investment to back Tookenize fun So I am an Onto
token holder. I'm bullish on this project. I recently interviewed
the founder, Nathan Allman at Chainlink Smart Con. Many of
you have seen that interview at Publish a few days ago.

(07:58):
So Onto Finance has purchased twenty five million of YLDs,
the yield bearing stable coin issued by Figure Technology Solutions,
to diversify the assets backing its tokenized US Treasury funds.

Speaker 2 (08:12):
The company said.

Speaker 1 (08:13):
Monday that YLDs will be added to a reserves portfolio
that already includes tokenized treasury products from major asset managers,
including funds issued by Blackrock, Fidelity, Franklin Templeton, and wisdom
Tree Design. For institutional investors, the Onto Short Term US
Government Bond Fund offers on chain exposure to treasuries with

(08:37):
twenty four to seven redemptions and an estimated annual return
of three point sixty eight percent. The tokenized fund has
about seven hundred and seventy seven million dollars in total
value locked as of this writing.

Speaker 2 (08:51):
So guys.

Speaker 1 (08:52):
We continue to see expanding and building, which is very healthy.
And you can see tokenization is the big race here
in to stable coins, and these folks are backing their
tokenized funds or with different assets, so they're backing with
figure stable coin, which is interesting. Now crypto is a

(09:12):
global acid class, and we got news out of Japan,
Japanese watchdog to require exchanges to hold liability reserves. So
across the global seeing the infrastructure being built for the
crypto acid class, regulations and rules are being put into place.
There's no banning anymore. The people who are anti crypto

(09:33):
have capitulated. They've all disappeared. You got the un educating
people about crypto. You have the IMF and the BIS
showing people which way to go, which rules to put
into place. They've completely capitulated. It's amazing. So the Financial
Services Agency in Japan will reportedly require cryptocurrency exchanges to

(09:53):
maintain liability reserves as part of measures to guard against
hacks or unforeseen events. According to a Monday NIK report,
Japan's FSA will revise its requirements for local companies to
include methods for quickly compensating users affected by security breaches.
Or other causes. The Financial Watchdog cited recent hacks of

(10:16):
global exchanges as part of the reason behind the change.
So I think this is great. You know, these exchanges
need to have the liability reserves. Something happens, right, unforeseen
events like the article says that they can make their
users whole.

Speaker 2 (10:32):
The right. We've seen this time and time again.

Speaker 1 (10:34):
This is why I encourage you guys to do self
custody treasurers one of my sponsors. I use the you
know the devices, the links will be in a description
to hold the majority of your crypto assets there because
you know, you control the private keys. You can put
it in a safe and a safety deposit box or whatever.

Speaker 2 (10:51):
Right, But there's a risk.

Speaker 1 (10:53):
When you put stuff on exchanges and you leave it there,
because even if the exchanges is really great, they're not
trying to scam people, they could be attacked. And now
if they have insurance and they have the liability reserves
to make you whole, then you know, I think that's good.
Maybe you can leave a little bit of crypto on there,
but if you're leaving all your crypto on their long term,

(11:15):
make sure they have the reserves and the insurance. But
I would highly recommend you go self custody.

Speaker 2 (11:21):
So this is good.

Speaker 1 (11:22):
You know, we need this globally, have the reserves to
make people whole, have the insurance and so forth. So
the Financial System Council and Advisory Body to the FSA
is set to release a report on the matter following
a meeting on Wednesday. One of the expected recommendations would
require crypto firms to create liability reserve funds. So this

(11:44):
is great, guys, this is what we want to see.
And just look at what's happening the building out right.
A lot of the white glove service, a lot of
the insurance, assurance and infrastructure that exists in trad.

Speaker 2 (11:55):
FI is now being built for crypto.

Speaker 1 (11:58):
So that is a very good And look some of
the trad five folks are building it right because they
want to offer these services. They know what their clients
want and they have the pedigree. They've gone through the
process with stocks and other assets. But with crypto it's new.
They got to do things a little bit different, but
still you got to have that infrastructure. So all great

(12:20):
news here, folks. Folks, that's the news. Let me know
what you think. Leave thoughts and comments below. I know
we're going to head into Thanksgiving with not any type
of major price action, which is very different. It's a
big departure from what we've seen historically. But look, this
is the nature of markets, right and I often say,
no one has a crystal ball, and we need to
adapt to the market changes. Obviously, we don't want to

(12:43):
invest with hopes and dreams and feelings, but rather look
at the data, and we're just seeing a shift in
the timeline, you know, with the headwinds we've had this market.
And I think a big milestone will be the FED
ending QT that is happening December first, so pretty much
next week, so I think, you know, I'm waiting to
see what happens posts FED ending QT, and then you

(13:06):
get the market structure. Bill liquidity is going to start
flowing again. We're seeing different governments around the world like
Japan start to do quantitative easing. The FED, I think,
is going to cut rates again, so we're heading to
a very loose monetary environment where low rates quantitative stop
and then FED I think we'll roll into quantitative easing

(13:28):
at some point. But you know, they have different mechanisms
and ways to inject liquidity, like we've seen in the Treasury,
the TGA, and much more so. Patience. Patience is a
key here, folks. I know it's painful, I know it's rough.
I'm with you, but we got to be able to
push through these things because it's the nature of markets, right.

(13:50):
You can't have the pumps without these type of volatility moments. Now,
a great way you can support me in the podcast
is by subscribing 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
in digital, and my course at mycrypto course dot com.
This course teaches you everything you need to know about crypto,

(14:12):
so if you'd like to learn more, check out the
link in the description and I'll talk to you all
later

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