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Welcome back to the show everybody check Out these headlines we have for you the Next Bull cycle Make Way for1 trillion We got Fidelity Valkyrie SEC Gary Gendler are they preparing for the Launch of spot Bitcoin ETFs we got that And so much more somebody rolled that Beautiful Intro digital perspectives with Brad KES Come on in Welcome back to the show you can follow Us on Twitter and YouTube for exclusive Content right now it's $1.68 trillion Market cap for crypto the market is off By one a half% uh 42,500 plus right now for Bitcoin $2,259 and change for ethereum tether Market cap is 90.9 billion plus pretty sure that's an All-time high number five spot for xrp Is 6 62 cents off by6 on the 24hour off By 4.5 on the 7 day let's look at the Range of price very quickly ranging Between 6150 on the bottom and 6436 on Top we'll keep an eye on it ladies and Gentlemen is linked to the best private Equity you can buy in the world with the Most affordable minimums if you don't Believe me do what the other over 500,000 people have done and just sign Up and register and get started it Literally is that simple you won't Believe it and I tell you the stuff does Not last long on the platform so do not
Mess around and take advantage of that Opportunity click the link underneath The video to my sponsor look right here Ledger exploit drained $484,000 upended here it says defi Former staffer linked to the malicious Code oh well isn't that fancy you know There's so much going on here with with Uh Ledger here lately it is just getting Very very hard to know which way to go Here I mean obviously I think the way to Go is to start looking for another Option but you know what the scary part About all of this is for me is that Being in this space you go to the next Thing and then the next thing and the Next thing because it constantly keeps Changing what's truly safe what our Perception of custody cold storage or Otherwise is actually safe for us right And that is really you know again I I I've said this multiple times on the Channel you know custody is the Foundation of a really truly regulated Healthy market right and this has to be Resolved we know I mean Ledger's the Example here but custody itself has to Be resolved we need to get to a place Where not only you could have custody Self- custody and it be very safe and Not hackable but we need to get to a Place too where I want some of this Traditional Market mirrored structure Where I can be somewhere with custody
And have insurance so uh you know it's Coming I do believe that and I think We're going to see evidence of that in Today's video tether the the tether uh Killer it says a true stable coin would Enhance banking in crypto a US dollar Peg stable coin backed only by cash in a Bank could help expand the money supply Without causing inflation and improve The bank sector attorney Daniel wheeler Argued well you know this is what I've Been saying everybody makes the cliche Comment oh you know stable coins it's The on and off ramp we need them it's Like yes we do and that is very obvious And it's very true but a deeper look Into stable coins and true legislation That allows them to be used by Banks and Other players in the institutional world And finance world will absolutely change Banking the day that it happens because You're talking about instantly taking Banking with the legislation that allows It 247 365 they've never been That then you have even the larger Implication all these dollars floating Around the world if each Bank creates Their own stable coin you just created a Reason to grab those dollars and lock Those dollars up because you got to be One to one or a Surplus so that you know I that's why I I'm really leaning in that we will get Some kind of stable coin legislation
Hopefully by early next year here's an Idea about commodity back stable coins I'm not going to play the entire clip But listen to this as gold is the Example of a commodity back stable coin Here is that in the market today there Are commodity back stable coins so in The absence of Regulation by the federal Government um the New York Department of Financial Services for example has Recognized commodity back stable coins And commodity back stable coins to be Clear are a little different than uh What we think of as dollar denominated Stable coins so if you had a a a Commodity back stable coin back by gold It's stable because the value of it Represents 1 ounce of gold in the case Of New York Department of Financial Services they regulate uh a commodity Back stable coin backed by gold and they Have uh the entity offering it has Physical custody of Gold um that is audit In conformance with the um process laid Out by this bill and so I hope that we Can get there so essentially they're Trying to introduce the possibility of An amendment to HR 4766 to stable coin Act of 2023 to Include a definition for commodity back Stable coins again as I say this stuff Can unfold very quickly you know Congress doesn't do anything until all
Of a sudden they do something right in The 11th hour and then they move very Quick quickly but I want you to listen To this about how it wasn't always this Way now this is a former treasury Official mandro mandore here and you're Going to hear her talk about and Jeremy Air from Circle shout out to both of Them about how the US in the early days And onset of this space was actually the First ones to come out and regulate this Space until we got you know who take a Listen actually when we were I think I Think we've sort of over complicated That problem when we were at when I was At treasury I I started in 2017 Vincent Had already um 2013 2013 they said if I Couldn't start my company without that Regulation exactly I mean it was Jen Calvary at the time who was I testified Next to her to the you did oh nice um so Jen said look you looks like you're Involved in money transmittal it looks Like you you all look like money money Service businesses to me so you have to Build out Financial crimes programs Etc And then I came in 2017 and I saw look There really only three countries at the Time in the world uh that had the kind Of Regulation that we had it was the US It was Japan and Australia so we were Ahead at the time I people that like the US is like I was like actually no the US Was the very first country in the world
To regulate intermediaries in the space And and literally I could not have I I Have a funny story I'll just quick Tangent which is that when when I was Putting together the company and I had Jim Brier and Excel and others come Wanted to invest I used my own money to Hire Promontory Financial Group oh Interesting to due diligence with the Treasury Department as to like if I Build what I'm trying to build like can I do it is it legal like or is this just Going to be like money down the drain um But I I did that because I wanted to get A strong point of view from a regular Perspective and and you know got a got Very clear indication like no you you Could do this you just here's what it Takes and so it's like okay this is Going to be very expensive ensive and a Big investment but like we're we want to Be kind of compliance first and so but The US had that framework we had you Know uh it's interesting when he Mentions prator group uh Financial Group Because really that is a really Three-letter agency backed Think Tank Right and this is why I constantly lean In and believe like you know I think Jeremy aair went about it the right way To go through the right Channels uh to be at least at the very Least considered to be a retail digital Dollar for the United States we'll see
What happens meanwhile valkyrie's Co-founder talks about meetings with the SEC is the spot Bitcoin ETF already Being negotiated for approval take a Listen to this quick clip on that memos Released late last month revealed that The SEC met with asset managers Black Rock and grayscale ahead of that much Anticipated decision over a potential Spot Bitcoin Point ETF so I'm wondering What does that signal to you and did you Have any meetings with the SEC recently On the topic yeah I mean we we speak With uh the staff all all the time uh And a stop Bitcoin ETF sometimes as well As others in recent weeks well you know I'm not going to really comment on our Our our direct conversations with the Staff but but what I will say is this um What the staff is trying to do right now Is to make sure that markets function Effectively and that all disclosures are In the filings before they launch and And those are two very important Functions in the SCC and I I will say That I believe they're moving very Quickly they're being very thorough um There's a lot of speculation on when This will launch uh my answer is going To be sometime after January 2nd and When they are ready and uh but I but I Think that we'll get there Soon and there you have it and uh listen This is a reminder I played this clip
And I'm not going to play the whole Thing but I want you just take a listen To the clip this is a guy that used to Work in Wall Street take a listen I Think that the crypto world that that I'm now a part of um doesn't really Understand the scale of these ETFs uh And doesn't understand the kind of the Wall of money that that potentially Could be coming into Bitcoin um and uh Just to give you a number uh you know I I asked a friend of mine who's in crypto Uh who's pretty active wrote a couple Books on bitcoin pretty active in the Podcasting Mark Jeffrey I said Mark what Would you estimate the size of the Global ETF Market he's like I don't know A trillion dollars I said what if I told You there's 10 trillion doll of ETFs you Know so1 Trillion of ETFs and That Grew From a very short Time ago back in like 2000 early mid 2000s something like that early 2000s so Now we see Fidelity which we knew had Filed for a spot Bitcoin ETF but take a Listen to this Tweet Adam uh says here I just spoke With a Fidelity employee and they told Me they expect direct crypto product to Be offered to their employer Customers in conjunction with their 401K Product presumably it will be offered Inside of a 401k upon the discretion of
The employer estimated q12 24 Huh you I mean this is the mainstream Adoption that we're looking for but Bitcoin has been turned into an Investment product right that's what we Know by at least wall Street's measure So we're going to stay tuned and see What the regulator does with the Approval but again coming back to Custody and the issue we open this video Up with here think of this this is Medico there are a few regulated Exchanges in the world how can Institutions at the moment invest and be Secure that their wallet doesn't go uh Go bust like FTX it's such a great point This is exactly why I talk about custody And qualified custodians and the Measures that really need to be in place But there are very few regulated Exchanges on the world so how can Institutions at the moment invest and be Secure that their wallet doesn't go Busted like FDX or any other you know Thing bad thing we had in the past it's Such a great point and you know look and You guys know that uh itust is a sponsor And you guys know I use itust as a Retail investor if you're looking for Institutional grade custody you can get It at itust you open an IRA and they by Default by the framework of the that That company being built within
Regulatory Framework you will get your assets put In a institutional custody level uh uh Custodian that's what they do so that's Really something to consider when you Think about where we're at in this Market that is so it's so volatile right Now in every single way all right now Let's take a listen to this clip here as If it was a preparation for something Happening next year take a listen to This clip from the same uh webinar but Since a few weeks uh few months the deal Flow has coming started again so it Means conversations that we're on hold Are resuming Uh people who didn't want to you know Even talk uh come back to us um accounts So that's the first thing the second one Is that uh we see globally uh and it Varies across Regions um Financial Market participants Setting up teams um for real so there's A new wave like uh now the the whole Um the whole infrastructure is ready for For them so from custody to you know Risk management tools people selling That I like we do Market access Etc and Uh there's there's a yeah there's a wave Of them getting ready for next year so Philip I'm in 23 meaning that's this we See it today as if it's if it was a Preparation for uh something happening Next year and this does align because
Look you're going to hear Gary gendler Even lean in to the idea of a spot Bitcoin ETF about to be approved take a Listen to this clip here approval Process going for a spot Bitcoin ETF I Know you're facing a window in early January what does that look like well Sarah we have I think it's between eight And a dozen filings I I'm a chair of a Commission I'm not to prejudge anything So that's going through the process Right now uh and as you might know uh we Had in the past uh uh denied a number of These applications but the courts uh Here in the District of Columbia uh Weighed in on that and so we're taking a New look at this uh based upon those Court Rulings so there you have it that's why They're taking a look at this because Basically they've not been doing well in The court cases they've taken up that's What we're talking about now could they Still pull some kind of last minute Delay or try to stop it it is Gary Gendler so we can't take anything off The table but before we get out of here Let's take a look at this because this Is dark Defender dark Defender says here I can feel the frustration in most of You about why xrp is not moving but the Rest well it's always the case xrp moves The Last I know people ran out of patience
On the other hand when we checked the Leading indicators in the monthly time Frame such as wave Trend RSI they favor Xrp uptrend we looked over 66 cents and Want to inform you that xrp must break Here and stay above at least 2 days my Expectation is that it will continue Proceeding with the second resistance The ETFs are coming and everything looks Ready for xrp I don't see any reason for Xrp to have low performance I will keep My patience and continue to update you With the changes I hope you have a great Day and we hope D Defender has a great Day as well uh we're going to keep an Eye on it you can see it all right here This is where we're sitting there's a Resistance minor right And you can see where the relative Strength index is there there's some Room to there's some room to bump up Here right you can see it all right There so we'll keep an eye on it right Now we're going into the freedom Zone Where you're not going to believe it the World evil Forum ladies and gentlemen They're at it again and I tell you You're not going to believe it I hope You'll join us click the link dig Perspectives. underneath the video or Just type it in your search bar dig Perspectives. and join us in the freedom Zone for almost next to nothing we'll See you on the inside not Financial
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