WILL FED JEROME POWELL PUMP CRYPTO TOMORROW? BIG XRP, CHAINLINK, & XLM NEWS!

Episode Transcript
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Speaker 1 (00:04):
Hey, everybody, 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 hit that subscribe button as
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or Apple, please leave a five star rating and review. Folks,
Tomorrow is going to be a very big day. We

(00:26):
are going to hear from FED chair Jerome Powell, as
he said, to deliver a big speech from Jackson Hole, Wyoming,
and that could move markets. You know, everybody's waiting to
see what will the Fed say because you know, there
was talks of potentially a rate cut coming in September,
but inflation has been on the rise. So will Powell

(00:48):
signal that a cut's coming or maybe a cut later
this year after that? I don't know, but tomorrow is
a very big day that could really move the markets.
I do believe the bull markets intact, but for the
short term, you know, this could really impact the markets,
you know, sending us lower to go test some lows
before we bounce, or maybe we see a very strong

(01:10):
bounce based on the news that comes out tomorrow, so
let's watch it closely. I will of course bring you
to details in the news recap later in the day,
but big day to pay attention, folks to see what
the Fed decides to do. And you know, it's anyone's
guess at this point because there's a lot of politics
behind us, you know, Trump and Powell going back and forth,

(01:31):
and not so much Powell but Trump, and you know,
it's it's getting a bit messy. So hopefully he signals,
even if they're not cutting in September, that a ray
cut may maybe comes in October November. I don't know. Again, right,
this is just a very unusual time because you have
the whole terrort situation, plus you know, other economic aspects.

(01:53):
And Powell certainly cares about his legacy and what legacy
he leaves, because that's what history is going to remember,
not the back and forth spats in the random month
or months in the year twenty twenty five, but rather
what happened from the macro, with the economy and much
more so. It's a it's a weird time. But nevertheless,

(02:14):
all the bull market signals and metrics and all these
things are still in play, and right now Bitcoin is
still in no man's land. However, bitcoin dominance, you know,
it's still showing a lot of weakness here. And I
love the chart that crypto Wizard shared around bitcoin dominance,
saying collapse in progress. Bitcoin dominance broke its three year

(02:35):
uptrend with a bearish engulfing from the top of the
symmetrical triangle. Now this is the one mark chart he's
showing here. You can see very bearers, right, you see
that down trend that's starting there. He says, the collapse
is in progress. Patience pays, and so will all coin.
So again, everything's still intact and bitcoin dominance is one

(02:55):
of the key factors here. Even the stock market is down,
the S and P five hundreds, the NASDAC, everything, So
the markets will certainly be waiting in anticipation to see
what happens tomorrow. All right, moving ahead, Wealthy Asian investors
target five percent of portfolios in crypto as adoption broadens.

(03:16):
You know, yesterday I shared the news about China's move
to build a digital yuan or a yuan stable coin,
and we talked about game theory and how no one
wants to be left behind and everyone's trying to build
their technologies and adopt it and trying to compete, of course,
And it comes with no surprise that this is happening

(03:38):
because crypto is a global acid class. It has been
the best performing acid class. It has outpaced real estate,
it has outpaced the stock markets and much more. So
let me give you the details here. Wealthy families and
family offices across Asia are increasing their cryptocurrency allocations, with
some planning to allocate around five percent of their portfolios

(03:59):
to the acid class. Reuters first reported the trend, which
noted a wave of demand from high net worth individuals
across Singapore, Hong Kong and mainland China. So the key
items there are Hong Kong and mainland China. Right, So
I've been on record, I wrote an article, I spoke
about it in yesterday's podcast. I believe China will open

(04:20):
up ETF trading where the capital it doesn't have a
flight risk, it has to stay in the ETF rapper
in the country because China is worried about that. They've
dealt with this issue for a long time where folks
have been moving the money out of the country. So
of course they've tried to stop that, and that's part
of why they've had the crypto ban. But if you

(04:41):
put it in the etf rapper, it just sits there, right,
and the institutions hold it. So I think that's the
direction China's going to go in. And they've been using
Hong Kong, which they control, as a testing ground. So
it's very interesting to see this news come out at
this time. So wealthy managers told Reuters they are receiving
more incre from clients, while cryptocurrency exchanges have reported rising

(05:04):
trading volumes and nude crypto funds are drawing strong demand.
Jason Huang, founder of Next Gen Digital Venturers, said his
company raised over one hundred million dollars in just a
few months for a new long short crypto equity fund
launch in Singapore in May. His previous fund, which wound
down last year, returned three hundred and seventy five percent

(05:27):
in less than two years. Wow, that's a pretty great return, right.
That certainly beats a lot of the other traditional finance
portfolios out of there. So, folks, there's demand for this
asset class. And if you're here and you bought in
the bear market lows, you are on the side of
smart money. You are an early adopter, and this is

(05:47):
why you have potential to make incredible returns. Now, speaking
of Hong Kong, Hong Kong Construction Company enters a four
hundred and eighty three million dollar agreement to buy four
two hundred and fifty Bitcoin shares briefly jump thirty percent.
So the crypto asset treasury strategy trend continues to grow,
and it's happening globally, folks. So this is very bullish.

(06:10):
These companies publicly traded are buying crypto assets. That's very
good if you hold those assets, of course. So Hong
Kong based Ming Shing said it's entering an agreement with
Winning Mission Group to purchase four two hundred and fifty
Big Point at an average price of one hundred and
thirteen thousand, six hundred and thirty eight dollars. Look at

(06:30):
the price they're buying at, so as you can see,
they're anticipating higher prices, because why would you go buy
the top, right, you would rather wait for the bear market.
But their clearity anticipating bitcoin is going to go higher
and higher than the you know, the all time highs
is just made up one hundred and twenty four thousand dollars.
So Mingshing's shares on the Nasdaq briefly jumped twenty nine

(06:51):
percent on Wednesday and close the day eleven point five
percent higher. And that's the big arbitrage that is taking
place right because your stock and a value your company
can go up significantly by putting these assets on your
balance sheet. So very very bullish news, folks. Quick word
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(07:14):
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(07:58):
The link will be in the description. Okay, we got
a lot of all coin news to cover here. First,
chain Link they announced today that they are now the
industry's first data and interoperability oracle platform to achieve ISO
twenty seven zero zero one and SOFT two compliance. So
this is really great. I am bullish on chain Link.

(08:19):
I hold it in my portfolio. I think it's going
to do well. And many other companies and blockchains use
chain links oracles on price feeds, so they are certainly
one of the best projects out there. And I'm not
saying it just because I hold a token, but if
you do your research you will see the same thing.
So on the first fight, I hold Bitcoin, Etheroerem, chain Link, XRP,

(08:42):
a VAX and much more. So this is really great news.
Look at this Gemini crypto exchange. They are launching an
XRP credit card, so it's going to be a MasterCard
powered XRP card. They teased it with some ads they
put out in New York City and obviously they tweeted
out their photos of those ads ads on x so

(09:02):
this is really great. You're seeing a lot of adoption
and innovation opening up for XRPS since the sec Ripple
lawsuit has completed. And on that note, Gemini received a
MICA license in Malta and this is really great. So
they continue to expand and getting their licenses globally and
they're not the only ones. You have other exchanges that

(09:22):
are doing the same. So the race is on to
get as much market share as possible, folks, because this
asset class is only going to continue to grow and
you're going to see mass adoption across the world. And
jumping back to XRP, the CMEME Group gave an update
on XRP futures, saying it has hit an all time
high and open interest with six thousand plus contracts on

(09:44):
August eighteenth, right as their anniversary approaches. So you're seeing
institutional investors looking to trade XRP and I've been saying
wait till the spot etf is approves. So I think
this is an indication of what's to come for the
spot etf. X RPS being one of the leading all
coins in this bull market and that's a very positive sign.

(10:06):
I am an XRP holder and with the SEC case
wrapped up as mentioned earlier, that's a very bullish narrative.
And I think the SEC is going to approve an
XRP s BODYTF along with Solana and others. So that's
coming up in October, of course, and it's going to
be pretty exciting folks. So this is great news. Now,
we got a big update here from Hugo phillyon of Flair.

(10:29):
Many of you know Flair is working on building DeFi
capabilities for XRP, Bitcoin and dogecoin. Well, Hugo, the founder
of Flair said XLM Stellar is on the roadmap too,
so that's really great. So they're adding DeFi capabilities for
tokens which you know, they don't have smart contracts natively
built in and don't have many options like Etherem or Solana.

(10:52):
But with Flair, you create these f assets like f
x r P, f BTC, f XLM, and you can
participate in different types of lending and borrowing and much more.
So this is really great. Now, moving ahead, we get
a big update from Caroline fam who is currently the
acting chair at the CFTC she was one of the commissioners,

(11:14):
of course, she twitted out today together the SEC's Project
Crypto and the cfdc's Crypto Sprint are coordinating to answer
President Donald Trump's call to action for American leadership. We
are going to win on crypto. So the two agencies
are collaborating here and they've got some major initiatives. And
I hope to have Caroline Fam on the podcast soon

(11:35):
to talk about all these things. I'm in contact with
her people. But guys, do you see what's happening here?
Eleanor Terry gave some additional updates, she says. Fam says
the push, alongside the SEC's Project Crypto, answers Trump's call
for US leadership on spot plus retail trading. Stakeholder engagement

(11:55):
starts today. Public comments due October twentieth. So to see
these agencies working to get legislation and clarity for the
crypto market and all this will lead to more capital
coming into the acid class. Now. The DOJ says it
will not target developers that create decentralized crypto platforms without
criminal intent. They shouldn't have been doing this in the

(12:18):
first place, but we know under Elizabeth Warren and Gary
Ginster and these clowns. You know, they were forced to
because Biden was in power. Biden gave Elizabeth Warren the
financial oversight powers, right, so she was running amok and
doing all this nonsense. So great to see these things
being reversed, Like why are you targeting good actors? Go

(12:39):
after the bad actors? Right, But they were trying to
kill a crypto so that they're banking cartel buddies, the
trad five folks can come in and take over. But
we won unfortunately for them. Right. We've talked a lot
about this at nauseum over the years, guys. But the
whole thing was to slow these crypto startups down, kill

(12:59):
them if possible, so that the big banks can come
in and take over. So great to see all of
these things are opening up. And here's another example. The
USOCC drops consent order against Anchorage Digital amid regulatory shift.
So Anchorage is a crypto custodian. They also have a
banking charter license and the OCC was trying to go
after them for a whole bunch of stuff and that

(13:20):
has now been dropped because they didn't do anything wrong. Again,
if you're a bad actor and you do something wrong. Yes,
these agencies need to do their job and hold you accountable.
But we know it wasn't about if you were doing
something wrong or right. It was just kill these companies.
If they are a crypto, a native startup, kill them
so that blackrock, JP Morgan all these guys can come

(13:42):
in and take over. That was the whole game. Final
news item here, State Street becomes the first custodian on
JP Morgan's tokenized debt platform. So big players here collaborating
and you can see the clear capitulation. Right. They are
building with blockchain tech, off differing crypto trading, tokenization, and
much more. They have to because disruptions at their doorstep.

(14:05):
So Stay Street, an asset manager and custodian banks serving
institutional clients, has joined financial services company JP Morgan's tokenized
debt platform as its first third party custodian, allowing it
to hold blockchain based debt securities on behalf of investors.
Many of you may recall just recently, JP Morgan did
a tokenized test on Coinbase's base, which is the layer

(14:30):
two on etherorem so JP Morgan forced to move to
public blockchain. So JP Morgan's digital debt service platform allows
institutional clients to trade and settle tokenize debt instruments, which
are securities issued on a blockchain that representing government or
corporate bonds. The Acid Manager purchased one hundred million dollars

(14:51):
in tokenized commercial debt from the overseas Chinese Banking Corporation,
one of the oldest banks in Southeast Asia, into platforms
in transaction. According to Thursday's announcement, folks, you see what's
happening here. They are forced to use blockchain technology. Can't
use Swift, can use your bullshit database anymore. You got

(15:13):
to use the public blockchain. No one wants to use
your personally built blockchain, right quorum that JP Morgan tried
to do to bypass all this, Why the hell would
I trust your centralized blockchain. You've got to go to
a public blockchain, and you've got to collaborate with all
the rest of Wall Street. This is what we've been
talking about for years. The economies, the markets, governments will

(15:35):
run on blockchain rails. We're headed to the token economy.
So the asset manager extending custody services to tokenize real
world assets showcases the growth of the emerging sector and
signals a milestone as more established financial institutions interact with
the digital economy. Folks, if you're feeling bearers about the

(15:55):
price action, zoom out and look at what's being built,
and look at who is bending the knee and capitulating
and entering the industry. Here. This is amazing. So make
sure you are exercising patients and once again you're looking
at the macro. If you're caught up in the hourly, daily,
and weekly, the markets will rip you to shred. So
make sure you balance the price action with what's being

(16:19):
built and where we're at in the timeline. Right. You
got to look at this from a holistic standpoint. Can't
just have tunnel vision with the price. Price is important.
I want guys, if I could press a button right
now and sun the prices to new all time highs,
I would because I'm here to make money. I've said
that from day one. I'm using this new technology and
asset class as a way to get myself financial freedom.

(16:40):
But I understand is a process to that. I understand
there's adoption and clarity that's needed, and you got to
be patient as the S curve adoption plays out. Right,
go study s curve adoption for the Internet and other
things like mobile phones and so forth, and it does
take time. There's further iterations on blockchains and technologies that
will all draw I have more adoption, more capital coming in,

(17:02):
more building, and much more. So make sure when in
doubt zoom out. All right, folks, that's the news. I'll
let me know what you think. Leave your thoughts and
comments below hit the thumbs up button. And a great
way you can support me in the podcast is by
subscribing to my free email newsletter. It is one hundred
percent free. Check out the link in the description. Check
out my book on Amazon, it's available in paperback and digital,

(17:23):
and my course at mycryptocourse dot com. This is a
comprehensive course that teaches you every aspect of crypto. Again,
go to Mycrypto course dot com expand your knowledge about
this technology and acid class and all the links will
be in a description. Folks, thank you so much for
watching and listening. I appreciate you all, and I'll talk

(17:43):
to you all later.

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WILL FED JEROME POWELL PUMP CRYPTO TOMORROW? BIG XRP, CHAINLINK, & XLM NEWS!

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