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Welcome back to the show everybody well What do The Big Industry leaders really Believe about this spot Bitcoin ETF Could it be approved before the end of This year we got that and so much more Somebody rolled that beautiful Intro digital perspectives with Brad K Come on In Welcome back to the show everybody and Very quickly before we get started I Want to tell you about the freedom Zone And you know what we get to talk about Politics geopolitical stuff mandates we Talk about it all inside of here and Guess what we're talking about today We're talking about those emails in the Political world that got destroyed and Deleted and cell phone smashed and we Got the emails inside the freedom Zone And if you want to see him all you got To do is go to dig perspectives. comom Click the link and find out exactly What's going on in here it's a great Conversation don't miss out the Opportunity make the investment it is Next to nothing to get in no doubt about It and you won't you won't believe it You won't believe what's in there now Let's get to the crypto Market very Quickly here $1.62 trillion market cap For crypto as the market is up 7.7% I'd love to say 7% as 7% but Nevertheless look at Bitcoin right now $
42,1 1548 showing off yeah up 12.6 on the 7 Day ethereum now 2200 in change up 8.8 On the 7 day and we know tether market Cap is 89.8 billion plus and we know That uh xrp is 61 cents at number five Spot off by 1.1 and up by 04 on the 7 Day but for most of this Focus this Video I want to talk about and focus on The spot Bitcoin ETF news and let's Understand that Bitcoin is now $ 42,1 and change okay now as we move Through the material it'll be a little More relevant why we're bringing that up So 60 cents on the bottom 6292 on top we See we're at rate smack dab in the Middle of the price for xrp this morning Let's get started with this so it's an Update from Congress which we absolutely Need and we shout out to Ron Hammond and The blockchain association who recently Held a summit and it was a huge success And we love hearing that for them we Love hearing that for the whole crypto Space as well so they heard from policy Makers staffers policy experts about What to expect for crypto 2024 and you Know what here's what we had here to Take away so Market structure Legislation and we've heard about this Patrick McKenry confirmed there was a Late push from him to include Market Structure legislation in the defense Bill going through Congress right now it
Was a long shot and while unsuccessful The plan now is a vote in the house is Likely q1 of 2024 now stable coin legislation we know Representative french hill is very Versed on this space and Jim Hines Predicted stable coins have a Significantly higher chance of moving in 2024 than Market in Market structure Structure bill so uh part due to members Understanding stable coins more than Crypto hurdles over State versus fed Remain both seem confident on progress And the state versus fed issue is really The right side of the aisle wants the State control and the left side of the Aisle wants the uh fed control at the Top so we'll see how that argument plays Out in legislation then he says here so When uh on my panel with lead staffers Allison bahun and it says here and Paul Bosano it says there is a focus on Strategy between speaker and shutdown Drama Congress has lots uh has lost a Lot of time for either Bill to have a Chance they need strong bipartisan vote So that you know to me it still comes Down to that State versus Federal who's Going to win that argument inside Congress so he says here uh treasury Asked Congress for AML and money Laundering legislation Wally Ado here Used the uh conference to announce his Request to Congress from the US Treasury
For additional sanctions and more elicit Financing authorities now this goes into What we spoke about this adds to other Requests like stable coin legislation And will be a factor for crypto bills But remember we covered this with Wally Ado who really basically was asking from The treasury's position for Congress to Give them more power so they could Actually go after Uh no us touch point from end to end and I believe that conversation has a lot to Do with tether I'm speculating there but I believe that that's correct then we See here Senator lumus and Senator Gilbran lamented that much of crypto Legislation future is in Senator sherid Brown's hands and so far nothing will Move unless there's a focus on an money Laundering in a surprise Senator Brown's Challenger Bernie Marino made an Appearance as well then they said they Had some Skeptics that took the uh took The stage representative Caston did Something impressive as he spoke at the Industry event that he's openly Criticized and it's good to have a Holistic perspective and hear his point Of view he was Kurt focused on cyber Security in North Korea growing DC Concern and he says AML push uh push Back when Russia invaded Ukraine then There was the push from DC Skeptics that Russia was using crypto to evade
Sanctions much like we also heard with Hamas and that situation there so that Was covered and uh more de Democrats Criticize gendler representative Richie Who has been absolutely critical of uh Gary gendler had the quote and the Takeaway from the conference and said Mr Gendler went from crypto cheerleader at MIT to crypto critic I've described him As the regulator regulatory equivalent Rather of George Santos few folks hate Santos more than Torres by the way so There is that and obviously Hester Pur Was there as well and discussing issues And what's next for DC came up as well And then uh on the New York DFS Department of Financial Services Adrien Uh Harris was there and said that they Will continue to fill the void of the Federal framework until legislation is Passed that's where we are on this day Shout out Ron Hammond for the update From Congress now coming back to the Courts where everything is being fault Because because of the lack of clarity From Congress this here from David Schwarz originally said I've just read Over the documents in the debt box case Which is one of the most recent things Happening and this is absolutely Shocking Behavior the SEC went to a Judge seeking an emergency order to Paralyze several businesses and Blatantly misre represented facts to get
It before anyone on the other side could Defend themselves now this was one of The most recent things that came out From a judge really uh just admonishing The SEC for their behavior and their Actions and this goes to all of the Examples we've seen in previous cases Like the Ripple case the coinbase case And others where judges are absolutely Now calling out the SEC for their Actions and it could just be that we Could see some real action coming in the Way of a judge acting against the and They could be sanctioned you know you Could have a judge actually sanction Them so hope hopefully judge uh this Judge hammers the SEC finds the Attorneys involved and makes the SEC pay Some form of damages to debt box if I Were the judge I would also ban the SEC Attorneys from ever appearing in any of My cases again that's how seriously John Deon feels about what he's seeing here Now I want to shout out this guy here This is Christian Carlo former cftc Chairman business executive attorney a Writer husband father advocate for Orderly vibrant entrepreneurial Capital Markets AKA you know him as the crypto Dad shout out to chrisan Carlo well I'm Highlighting this because he just Recently wrote a really great article Which I'm not going to be able to read To you today but uh I encourage you to
Go read the latest piece in iflr where Uh Conrad balky Michael James looking at Recent us Court decisions affirming Their 2020 analysis that xrp and other Cryptos and digital assets are not in Inherently security subject to the SEC Jurisdiction unraveling the Ripple and Terraform cases now this is why I'm Showing this because truthfully you know Christian Carlo came out in 2020 and Wrote this report and wrote this paper This opinion piece and said look I've Done the analysis here and xrp is not a Security I actually had a chance to talk To him uh at Bitcoin Miami that year and I was so blown away Uh with the opportunity to get to meet Him let alone be able to just shake his Hand and say thank you for writing that That overview on xrp because no one at The time was taking such a stance as it Turns out he was spoton he goes on to Say here in response to crypto guy who Says you said from before the lawsuit That xrp is not a security I'm glad the Court saw it that way too he said right Here yesterday he said some sometimes Times it's good to be able to say I told You so and you know uh it really is and At the end of the day the reason I'm Showing all of this uh uh going back and Showing about his opinion piece here Because this was a guy who led the Cftc this is a guy who I align with and
And think in my mind exactly the way John Deon put it here it was an Outstanding piece by one of the good Guys AKA crypto Dad we need people like Chrisan Carlo and Brian Brooks back Serving the public good now I don't know Where his mindset is today but we could Certainly use a man like Christian Carlo In the regulatory agencies or even in Another area where he could be effective Because the truth is I don't know of two People that have a better understanding Of how to regulate and understand this Technology than these two gentlemen and We could certainly use them on behalf of The country for this new technology Being born now to recap very quickly Here before we talk about Bitcoin to Spot Bitcoin ETFs and where the top Industry leaders are on the matter Because they're talking about it Possibly being approved before the end Of this year which is inside of 30 days How about that One this is CEO of zodia markets now we Know recently zodia which is obviously Brought to you by Standard Chartered Which is a ripple partner as well Medico Which is acquired by Ripple all have joined forces now this Tells me that they understand that There's going to be a huge need for Institutional custody of digital Assets In the very near term if they're doing
This today now I just wanted to play This recap of this so you get a full Understanding of the complete clip we Covered the other day of what the CEO of Zodia markets feels about the world and We think that will continue to evolve Now regulation is one thing but actually We got potentially the spot Bitcoin ETF Now everyone's very excited about that In the digital asset ecosystem so the Spot Bitcoin ETF with you know Market Participants like Black Rock and Franklin tempton putting their Applications in we think that's a Significant opportunity but also we've Seen corporates so we've seen a market Segment we weren't necessarily expecting Starting to get more interested in Actually the utilization of crossb Movement funds because digital assets Have no border so it allows for much More efficient movement of value uh and Transfer of value and interestingly in Interest rate environment that's Increasing um we've actually seen even More of an adoption and more of an Urgency because um I think corporate Clients are realizing that they need to Move faster than the traditional banking System allows them to right so Without Borders we really need that Global Cooperation when it comes to a Regulatory framework we do and you know There's been some consultations through
Iosa uh there's been kind of regulators In significant jurisdictions making Strides which is hugely valuable but we Do need kind of crossborder cooperation Because you know without borders it Means that you can transact at the speed Of the internet and the challenge at the Moment tends to be that the banking System slows everything down cash Doesn't move that and now let's listen To this clip do you see that time frame Wise in the Next year to make a I more educated People than me have made many Predictions um I am hoping uh we're Looking at the first half of 2024 I'm Hoping I think there's there's a few People that I think have been more Bullish with that and maybe we're hoping For before the end of this year and I I Hope I'm wrong I hope it is uh but I you Know I would I probably like to think We'll see something maybe in q1 Hopefully worst case Q2 now with that Being said think of this for a moment Here's Brian Kelly who's talking about It's time to talk Bitcoin rocketing Above 42,000 and you know the conversation Here is very good I don't want to get The video too long here but shout out to Brian Kelly for all his contribution What he does in the in this area he Highlights that he's bullish on gold and
Bitcoin right in this in this current Current situation in market now the Question is asked in here is whether or Not Bitcoin is priced in with the Understanding of the spot uh Bitcoin ETF Or not Meaning are we close to the peak let's Say that it is approved today or Tomorrow morning for all the Applicants is Bitcoin going to go to 50,000 is Bitcoin go to 48 or 45,000 and Then have a little bit of a A Retracement or is it going to go to 120,000 right this is what we don't Truly know right but it is the question And the way to be thinking about where Your exposure is at this moment right so Now let's go to this Quick Clip here Which is perryan boring from the Chamber Of digital Commerce shout out to perryan For this clip on Fox yesterday take a Quick listen here I want to bring in out Chamber of digital Commerce founder CEO Peran boring all right peran U you know I want to begin with the efforts of the Government to derail Bitcoin these Central Bank digital currencies I'm Reading now where more and more of them Are saying they're failing that they They can't live up to the hype and There's no Interest yeah governments have really Been putting their thumb on the scale of Innovation and trying to hold back
Crypto digital assets including Bitcoin But technological progress can only be Held back in the short term and the long Term technology is moving forward and That's what we're seeing in the markets We're seeing uh you know we saw today El Salvador put out a statement saying Their Bitcoin Investments are in the Black you mentioned Argentina just Elected a pro Bitcoin president so we'll Expect to see some moves there we're Also hearing rumors that multiple Sovereign wealth funds are planning to Make very significant investments in Bitcoin so there is definitely this Dichotomy happening between the open Source money and close Source money of Cbdcs and we're getting a rally right Now I want to bring in and they are Getting a rally right now and the Question really comes into is where will This rally Peak out at remember in April Of next year we are going to see the Havening right or having however you Like to say it and then we usually see History says you know within 12 to 16 Months after that having you will see Some kind of a uh Bitcoin push now Currently there's like 900 or so Bitcoin Uh done every day uh uh every day and Then after the having that should get Cut in h in half right so if you have The approval of these ETFs they have to Be physically backed with the asset
Itself it's not like Futures product so This would create a demand to get it Locked up into custody to properly under Regulatory uh framework for ETFs you Will have to have the digital asset Custody to back the fund right so with That being said we don't know just yet However let's take a quick listen at What uphold believes is coming from the European blockchain conference shout out To uh Chad for this one men touched on The Bitcoin ETF um or you know the Excitement around the possibility of a Bitcoin ETF what do you make of that do You think that the the an approval would Open the floodgates to adoption yeah no Thanks Nico I'm I'm personally I'm very Excited about the the the ETFs the etps However you wanted to find the products The approval in the US um I mean we saw On Monday with the fake news coming out Uh the market Spike that that caused Which shows two things a um the lack of Liquidity still in the market but also Gave us a taste of what is to come once These products and and I'm I'm really um I want I want to say when not if because I'm uh I'm convinced that they will um And it's a rapper that institutions are Familiar with I want to come back to the Point that you know we all know here how To navigate a wallet and how to do Crypto transactions institutions just by Buying an ETF they don't have to do that
And and that's a that's familiar Familiarity it's it's security and um so To answer your question yeah I'm I'm Really excited about it now let's Combine a few issues that we've looked At here today right one is the possible Approval of the spot Bitcoin ETFs Whether it be before the end of this Year or sometime early next year it does Look highly likely that that's going to Take place we'll have to wait and see But it looks very very likely now with That let's look at the idea and Understanding of what we uh uh talked About here from zodiac and Medico here They're setting up shop to do what Custody for who institutions well who Are the institutions the black rocks the Fidelities the Invesco The Arc Investment fund you know what I mean It's all of these massive institutions That have actually applied for the Approval of the spot Bitcoin ETF you can See the place the puzzle pieces being Put into place if they're approved today Where are they going to properly custody All of the Bitcoin that backs the Funds Medico Right zodiac they're all there all of These companies are there to be be the Foundational block to what is about to Happen that's what I'm seeing today Couldn't be more excited to watch it for
This space now with that being said uh We're getting ready to talk about those Cell phones that got all smashed up back In the day emails deleted remember that Remember what would happen to you and I If we did that well we've got the link To all the emails and you get to see Them all and you're going to see them All if you just click on dig dig Perspectives the link underneath the Video and join us in the freedom zone For next two nothing and start having a Real conversation that we're having in There that we could never dream of Having out here not Financial advice From me or anyone else I'll catch all of You on the next One