OCC APPROVES NATIONAL BANKS TO DO CRYPTO TRADES! PNC BANK BITCOIN TRADING!

Episode Transcript
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Speaker 1 (00:00):
Bitcoin pumps past ninety four thousand dollars today. What happens next?
I want to go through the charts with you, and
the OCC green lights national banks to participate in crypto
and the same day, PNC Bank has launched bitcoin trading
for its wealth clients. This is huge news. I'll give
you all the details. Let's get into it. Hey, everybody,

(00:25):
welcome into the Thinking Crypto podcast. You're home for cryptocurrency
news and interviews. I'm your host, Tony Edward. On your
way in. Please add subscribe button as well as the
thumbsup 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, today we
saw bitcoin do some upward price movement here. It's wicked

(00:47):
up to about ninety four thousand or over ninety four thousand.
That's a good sign. But we knew this was coming
right folks, because we've been talking about it for weeks.
Bitcoin was over sold, the rs signed daily, so the
opposite direction was the next move. Not to mention, we've
been in extreme fear sentiment, so the market always does
the opposite of the masses or the herd right, So

(01:08):
we also have the mac D showing that bulls are
in control on the daily chart. However, we still have
work to do here, and I've been cautioning you guys
that there could be potential retests of that, you know,
seventy one or eighty one thousand dollars price points a
bit of a double bottom or maybe a little bit
lower before we continue or this continues to move up.

(01:29):
You know, I give you guys these scenarios because there
are probable scenarios that could happen, and you have to
be mentally prepared for them. Because we don't have a
crystal ball, and we are looking at the data, We're
looking at historical patterns and much more. But overall this
is a good sign. We get higher highs and higher
lows forming here, so we're working our way out of
the hole. But again, retests could happen before the actual breakout. Now,

(01:53):
the other big question for many is is this simply
a dead cat bounce or relief rally and then we
roll over to lows into the bear market, or this
is the start of the next leg up to new
all time highs. And that's the challenging part to try
to figure this out now. One of the things we've
been highlighting is that despite some of the bearer signals
we're seeing on the charts like the bitcoin weekly and

(02:14):
even the monthly chart, the macro is setting up really well.
You know, tomorrow we're gonna hear from the FED and
we're gonna see if they cut rates. Right now, the
market's betting that there's gonna be a twenty five basis
point cut. And with quantitative tightening ending, we are starting
to see liquidity injections into the markets, you know, FED
doing reverse repo and much more, plus Japan doing stimulus,

(02:36):
so other central banks are doing things as well. But
we're gonna have to wait and see how this all
plays out. One of the things we want to keep
monitoring is the stock market. So if you look at
the S and P five hundred here has not it
has been on the way up, kind of recovering, but
it hasn't broken into all time highs. So we're gonna
watch things like this as an indicator as to what

(02:56):
may happen with crypto, because we know all of these
things are correlated to liquids, and even the russell it is,
you know, breaking out, and we're waiting to see if
you know, that breaks up, because that could be a
big indication for the old coin market as well. Bitcoin
dominance is starting to break down a bit here, but
it's a bit too early to call home and say, hey,
alts are starting to run yet, right, we got work

(03:18):
to do here, folks. So this is where patients is
the key. And you know, in the summer, I was
saying the tariff crash at the beginning of the year
pushed the bull market timeline, and I said, you know,
this thing could bleed into twenty twenty six. So let's
say we're starting to see bitcoin recover and then the
alts pick up. I think this is gonna play out
more so in January. I don't think we can see
this massive pump. You know, we are already in December

(03:41):
and we don't have as much time. And yes, some
people are gonna say Santa rally and all that, but
I think the whole timeline has changed here. So let's
see what happens, right, Let's see how it all plays out.
We're going to have to be patient. Let me share
what some different anamals are saying. So analyst Bob Lucas said,
stocks and Bitcoin have the right cycle setup this move
to finally get some upside momentum going. So the signals

(04:05):
are there RSI, you know, all of the Elliott wave
and all the different things and so on and so forth.
But again the big question is it just a dead
cat bounce really rally or the big move into new
all time highs. Crypto Wizard says a higher low. The
fate of Bitcoin will come from the next swing. Bullets

(04:26):
will want a major reversal from here to form a
higher low. It will also need to avoid making a
lower high. So what we want to see is higher
highs and higher lows, right to keep that stairstep pattern.
And we saw that throughout this bull market. Right. So
remember the market moves with Bitcoin, the all coins follow
bitcoins move, So we need bigcoin to go to new

(04:48):
all time highs. Guys, that's so important, but it's not guaranteed.
Of course. Here's what Jordi Visser said. The stock market
is giving a warning that Bitcoin is about to rally.
Pure volume versus pure probability fell hard as Bitcoin fell
from one hundred and fifteen thousand to eighty thousand. Now,
pure volume versus pure profitability has ripped back to highs

(05:12):
in ten of the last eleven days, while Bitcoin is
trying to gain its footing, pure volume versus pure profitability
correlated to pmis over time. Hire bitcoin to come. So
let's see different, folks. You know, certainly calling for a rally,
but again, rally that doesn't make new all time highs
gets rejected at you know, certain price points, maybe at

(05:33):
one hundred thousand, right a psychological level and rolls over,
or it breaks through, surprises everybody and continues higher. We're
gonna have to wait and see, folks. And look, we
could get a major announcement from the Fed tomorrow. Let's see,
you know, maybe they do fifty basis points cut versus
twenty five, or they give signals of some sort of

(05:53):
liquidity injection. I don't know. We're gonna have to wait
and see. Now, Binan's founder CZ says there could be
a crip the super cycle in twenty twenty six. Now
I don't run around, you know, making my investments based
on CZ and the statements he makes. But you know,
he is the founder of the world's largest crypto exchange,
and let's see. Maybe he might be right. But you know, again,

(06:17):
these are just words. We're gonna have to wait and
see how it plays out. Now, one of the things
I have been highlighting that's positive is that bitcoin whales
are starting to accumulate again based on on chain data,
so wallets of ten or more bitcoin are reversing. They
were in distribution for the past two months October November.
Now we're starting to see a reversal like we've seen
throughout this bull market when there's been corrections and then

(06:38):
the continuation. So fingers crossed that this continues, folks. We
need this to continue to see those higher highs and
we continue to see digital ascid treasury companies continue to buy. Today,
twenty one Capital, headed up by Jack Mallers, they went
public on the New York Stock Exchange, so that was
a big moment on Wall Street for crypto and he
went on CNBC and said they're going to buy as

(07:00):
much bigcoin as they possibly can. And in addition, Tom
Ley's bit mind they bought another four hundred million in ethereum,
so this is incredible. They've purchased one hundred and thirty
eight four hundred and fifty two eighth since last week,
currently worth around four hundred and thirty one point nine
to seven million dollars. They still have one billion dollars

(07:22):
in USD left to buy ETH, so they raise billions
to buy ETH and their current holdings altogether is valued
at twelve point zero five billion dollars. So again right
between the lines here, these guys are buying so that
the price is going to continue crashing down and they're
going to lose value. Right Why would they be buying

(07:43):
right now? I think they're anticipating that there's going to
be higher prices here. So let's see how it all
plays out, folks. This episode is brought to you by Propy,
which is leading the charge of putting real estate on chain.
I've been a Proppy token holder since twenty eighteen. I'm
very bullish on this project. When I first came across Proppy,
I was amazed at what they were doing because they

(08:04):
were head of the curve and disrupting the real estate
market with blockchain. Their platform is parted by blockchain. You
can buy and sell real estate on their platform, and
you can buy and sell for cryptos. If you want
to sell your house for a bitcoin, you can do
that on Propy. So it's pretty amazing and they've been
tokenizing real estate in different ways with NFTs putting deeds
on chain, and they've been around since twenty seventeen. They

(08:25):
facilitated over five billion dollars in deals. They use coinbase
for the crypto escrow, you know, the buying and selling
of real estate. And like I said, they put a
lot of stuff on chain and they're backed by some
big investors like Tim Draper, billionaire investor. He's very bullish,
he's been invested for a long time. So I'm a
big believer in Propy. Guys, we all know real estate

(08:47):
will be disrupted by blockchain, the process, the assets themselves,
the homes will be tokenized. If you saw my interview
with Dan Silverman of Balcony this morning, they talked about
putting two hundred and forty billion of real estate on
the blockchain. So we are seeing that acid class, the
world's largest asset class, getting put on chain. So once

(09:08):
again I'm a Propery token holder, very bullish on this project. Guys.
Check it out and they're doing some amazing things with
blockchain and AI. So go to propy dot com if
you'd like to learn more. Link will be in the description. Now, folks,
here's some very bullish news that came out today from
the OCC which is the regulator which handles banking license

(09:28):
and charters and so forth. So they're the Office of
the Controller of the Currency and they have given approval
to national banks in the United States to participate in
crypto asset transactions as part of the business of banking. Incredible, incredible, right,
So let me give you some details here. So, the
US Office of the Control of the Currency has affirmed

(09:49):
that national banks can intermediate cryptocurrency trades as riskless principles
without holding the assets under balance sheets, a move that
brings traditional banks a step closer to offering regulated crypto
brokerage services. In an interpretive letter released on Tuesday, the
regularly said banks may act as principles in a crypto

(10:09):
trade with one customer while simultaneously entering an offsetting trade
with another, a structure that mirrors risk less principal activity
in traditional markets. Here's a quote. Several applicants have discussed
how conducting riskless principle crypto asset transactions would benefit their
proposed banks, customers and businesses, including by offering additional services

(10:32):
in a growing market. Notes the document. Folks, this is
so bullish. And you know, we've often talked about it
over the years that all the bank, stock exchanges and
big investment firms would adopt crypto, and that day is here.
It's pretty incredible, and here's a great example of that.
We know Coinbase has been working with jp Morgan City
Bank and p and C Bank, while PNC Bank has

(10:52):
become the first to offer some crypto trading here. So
Coinbase institutional, they said, today marks a major milestone for
institutional crypto adoption. Coinbase is crypto as a service platform
is now powering PNC banks launch of direct bitcoin trading
for PNC private bank clients, the first market with such

(11:14):
an offering among the major US banks. They said. Here, together,
we're enabling seamless access to digital assets within trusted financial systems.
Incredible news here, folks. And here's what Brian Armstrong's CEO
of Coinbase said about the news. Exciting to see more
banks embrace crypto like this. PNC Private bank clients can
now buy, sell, and hold bitcoin in their existing accounts.

(11:37):
PNC is the first major US bank to support this
type of offering, folks. So you see what's happening here.
The on ramps being built for liquidity, for capital coming
to this market, not just for retail but for institutional clients.
And we've often talked about it. One domino falls, the
others are going to follow us well, so expect the
other banks are getting ready to do the same thing.

(11:59):
Game theory is going to apply lay out here. So
very bullish news and look at this bit wise. Today
they launched their Crypto Index ETF, which includes multiple coins,
and that went live on the New York Stock Exchange
arc UP as an ETF, of course, and that ETF
includes Bitcoin, e Theorem, XRP, Salona, Cardano, Chainlink, Light, Coin Suite, Avalanche,

(12:23):
and Polka Dot. So again the on rams being built
for more capital come into this acid class. Okay, moving ahead.
Senator Cynthia Lummis anticipates Crypto Market Structure markup next week,
so not the passing of the bill. There's a lot
of work to be done here, but we got to
go through these different phases right, but markup would be
a big win, so she said. Our staffs are exhausted

(12:47):
and at the Blockchain Association Policy Summit today and it
seems like there's going to be some progress towards the
end of the year with the markup and if they
just get that done, that's absolutely fine. So it looks
like this bill for passing Q one. I think Lake
Q one, not early Lake Q one of twenty twenty six.
And again that's a major milestone for the crypto market.

(13:09):
So with the market makers and the whales, let that
moment pass right when that could bring in tons of
liquidity and spark a massive bull run to a blow
off top. So this is a question I posed to
some of you who think the market has top, and look,
you might be right, but again we have to look
at both scenarios and weigh the probability here. So something

(13:32):
to think about. Okay, moving ahead. Blockchain trial on the
Canton network tests collateral reuse with tokenized US treasuries. So
I've been telling you guys to watch a Canton network.
Actually just recently they launched the token on Kraken Exchange.
I have not bought it yet. I will let you
guys know when I do buy it. But this is
a project I am bullish on, and you know I'm

(13:54):
watching closely because it's backed by the major Wall Street
banks and firms. Five transactions were executed in the newest phase,
building on the July pilot, which first demonstrated that US
Treasuries and USDC stable coin could be combined to finance
and settle transactions on the blockchain. In the latest trial,

(14:14):
the companies use multiple stable coins to finance positions against
tokenized US Treasuries, winding the pool of on chain liquidity
available for financial transactions. Very very interesting, guys. So we're
seeing some big names participating with the Canton network and
you could see the direction to pucket heading here. They're

(14:35):
all looking to tokenize assets because that will open up
twenty four to seven markets more liquidity of a global reach,
so they can cast a wider net here. That's the future,
and you're seeing a lot of building of that happening now.
Real Finance secures twenty nine million dollars to build institutional
rails for tokenized assets. So case in point right, folks,

(14:58):
So let me give you the details here. Real World
Asset Tokenization Network. Real Finance has secured twenty nine million
dollars in private funding to build an infrastructure layer for
RWAs aiming to make it easier for institutions to adopt
tokenized assets. The funding round included a twenty five million
dollar capital commitment from Nimbus Capital, a digital asset investment firm,

(15:20):
with additional participation from Magnus Capital and Free Cause Group.
The company, inform coin Telegraph Real Finance, stated that the
funding will be utilized to expand its compliance and operational
infrastructure as it develops a full stack RWA platform. In
the near term. The company aims to tokenize five hundred
million dollars worth of RWAs, a target it says would

(15:43):
represent about two percent of today's tokenize asset market. Folks,
you see the building that's happening here. These people are
not concerned, are worried about the bear market or prices
being down there raising capital. They're building because they have
the macro view on this market, and I hope you
do as well. Look at this. Speaking of tokenization, Securitize,
which is the leading tokenization firm, hires former PayPal exec

(16:08):
as US tokenization gains traction. So they hired PayPal executive
Jerome Roche as they expand their regulated tokenized securities for
US investors. And this bills on fresh approvals in Europe.
And we've heard that Securitize is looking to go public.
So this is one of the companies I've been mentioning
in addition to Crack and Greyscale and others, and they're

(16:31):
looking to go public in twenty twenty six. So again,
who the hell goes public in a bear market when
there's no liquidity? Right, So these market initiatives plus liquid
it's not drying up like we've seen in twenty twenty two.
So something is different here and we have to take
it into consideration, right, and again I hope that I'm right.

(16:52):
I'm not saying that this is a guarantee, but I
can look at what has happened in previous bull markets.
I can look at the market environment. I can look
at all the things that are ahead and say, wait
a minute, those aren't bear market activities. Something is different.
Final news item here, Circle moves toward privacy focused stable
coin with usdcx project. So privacy is going to be

(17:14):
key for adoption. You know, not everyone wants their information
out there, and it's a smart move by Circle here
to build a private version of the us DC stable coin.
So stablecoin issuer Circle is developing a privacy enhanced version
of its US dollar peg USDC token, aiming to spur
institutional adoption by offering greater confidentiality than traditional public blockchains allow.

(17:40):
The new stable coin called us dc x, is targeting
banking and enterprise users, is being built in partnership with
the privacy focused blockchain alio, Fortune reported on Tuesday, and
unlike most existing stable coins, which have wallet addresses and
transaction details fully visible on chain, usdc x is designed

(18:01):
to provide banking level privacy. Circle would still be able
to provide a compliance record if law enforcement or regulators
request information on specific transactions, according to the report, So
this is great news, and this will allow for more
institutions to adopt stable coins in crypto because privacy is

(18:22):
very important for them. You know, some of them are
building their own private permission blockchain internally, but they're building
bridges to the public blockchains. But of course, you know,
they didn't want certain information out there, which makes sense,
right if it's customer data or you know, things that
would reveal their strategy and their business operations, you obviously
don't want that. So we need to make sure there's

(18:44):
some level of privacy and that it protects the institutions
from from that perspective, and that will once it's this
infrastructure is in place We're going to see a lot
more adoption. So this is certainly going to be a
big factor. So smart move by circle and I you
can imagine the other stable coin issuers are going to
do the same thing. Folks. That's the news. Let me

(19:05):
know what you think. Leave your thoughts and comments below,
hit the thumbs up button. Tomorrow is a big day
with the FOMC, so I'll bring you guys the updates
and we'll see what we hear from the FED, and
we'll continue to monitor the macro and see what bitcoin does.
But you know, as always the week of the FOMC,
expect volatility. Right, we could get some bad news and

(19:25):
it dumbs the market. Just remember that I think people
forget these things right, that you have to look at
different scenarios. We as human beings, we want the absolute answer.
We need to know what happens this way. But unfortunately,
this is investing and we have to be smart, educated
investors and prepare for multiple scenarios. Now, folks, be sure
to support the podcast by subscribing to my free email newsletter.

(19:47):
It is one hundred percent free. Link will be into description.
Check out my book on Amazon. It's available in paperback
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This is a comprehensive course that teaches 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

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