I've got huge news for you. Fidelity is launching its own tokenized fund to compete with black Rock, and Tether is about to get audited by a top four accounting firm. This is huge for the stable coin market, and as stable coin legislations come through and the SEC may rule on NFTs very soon, maybe as early this week, saying they are not securities. I'll give you the details. Let's get into it. 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 of that subscribe button as well as the thumbsup button and leave a common below. If you're listening on a podcast platform such as Spotify or Apple, please leave a five star rating and review. Folks. We're seeing some movements from Bitcoin. Today it crossed over eighty six thousand dollars, so we continue to see some higher highs and hire lows forming here
on the short term timeframe. Now, this is kind of a bit of a relief rally. We're not seeing any indication of a true breakout. We need more confirmation for that, right because the markets can fake us out and look, Bitcoin could pump a bit, maybe big one goes to ninety two k, then goes back down to retest the lows again, then have a true breakout. So these are scenarios you have to be prepared for. But it's good
to see Bitcoin is moving in the right direction. We are slowly getting out of this hole we've been in, and overall we're seeing this for the markets across the board. So you look at the NASNAC, you look at the SMP five hundred, also seen a bit of the recovery. But we don't have full confirmation yet, but the signs are there and it's looking good. We know the bull market's not over, guys. If you look at different signals, even the time perspective, this bull market still has ways
to go. And we're seeing some all coins like XRP, their charts are looking good setting up similar to Bitcoin, where they're looking to break out as well. So I think the next move is coming. As far as a strong bullish rally to new highs, we need full confirmation. Like I said, the market can give us a relief rally then go back and test the lows, but doesn't necessarily have to play out that way. But we have to be prepared for all scenarios as educated investors, right,
we don't want to be emotional about these things. We want to look at the charts, understand the possible scenarios, and then position ourselves accordingly. Now, something that's a good sign.
The liquidity around mean coins is drying up. In fact, Pump dot funds daily revenue is down ninety six percent, and I tweeted out about this, beautiful send a liquidity back to bitcoin and the real all coins, because the mean coins really sucked out a lot of liquidity, even Trump's meme coin, which I am not a fan of, and you have Malani and so forth. I don't think any sitting president should do this. It doesn't matter if you're a Democrat, Republican, independent, doesn't matter, right, But it
is what it is. But at least the liquidity is drying up there and it's going back to the real assets. So very good sign here. And the macro is setting up beautifully with global liquidity surging, and we know risk assets like bitcoin and crypt on the stock market will catch up. So very good macro sign, guys. And the DXY is also breaking down. Many different analysts and traders are highlighting that the DXY, despite seeing a little bit
of strength here, will continue to break down. It has been breaking down like crazy lately, which is a very good sign for risk assets. So the macro factors are there, guys. The stage is being set for the next bullish rally. I hope you understand what I'm saying. This is not an emotional take. This is based on the data and the chart. Now, guys, we've got some interesting news coming
out around the SEC and NFTs. So Sander Lutz, who is the senior writer at decrypt, said SEC Commissioner Hester Purse, tells me NFTs could be the next crypto asset class the agency exempts from securities regulations via a statement specifically types of NFTs used by companies to fundraise. Pierce mentioned Stonercats and Flyfish Club as the exact type of NFTs the SEC should carve out. Both projects raised millions via the sale of membership NFTs before the secs sued the
projects during the Biden administration. Now we saw the SEC recently give clarity on crypto mining as well as mean coin, saying they're not securities activities. NFTs will be the next logical move here and an easy one for the agency. So, guys, we are getting incredible clarity here from Hesser, perse marky Wada, and Paul Atkins is not even in office yet. So guys,
things are moving in the right direction. We have a pro crypto government, so to set up in the macro with the government, the charts and everything is looking really good for the next rally and the continuation of the bullmarket. Now interesting news coming out from Tether. Tether's CEO says a full audit by a big four firm is the top priority following the new CFO hire. So this is
really great. We know Teyl does their quarterly attestations. We know that Cantor Fitzgerald, the major Wall Street firm headed up by Howard Lutnick who's not part of the Trump administration, has said Teather has the reserves. And if you guys recall I discussed this with Tether CEO Powell Arduino last year. The interview was in March of twenty twenty four. If you haven't seen that, check it out, and he mentioned, you know, the working relationship they have with Cantor and
much more. But an audit from a top four accounting firm like your PwC, deloittees and so on and so forth. Would be huge. And I think Tether is looking to do this because stable coat legislation's coming here in the United States. Plus they had some issues with the EU microregulations. So I think Tether's going to get their house in fully in order. I'm not saying it's in disarray, but they're going to get all their t's crossed and their
eyes dotted and they'll be in compliance. So really big news, and I think these are things we need to see across the crypto industry. More audits, more transparency, and you know, more of the neutral parties out there that can come in and make sure everything's in order. This way it's not biased or whatever it may be. So this is really great, guys, huge news, and I expect other staplequin players in the market to do this as well. Now, huge news coming out from Fidelity. Many of you know.
Fidelity is a powerhouse on Wall Street guys, and maybe the second biggest name following black Rock. Well, they are joining the tokenized assets race. Guys. We know black Rock already launched a fund called Biddle on Ethereum. It recently crossed over one billion dollars of AUM, which is incredible and it hasn't been a year yet. So as we've
been talking about, guys, the token economy. Tokenization is the future of finance, as Larry Fink has said, and they're going to put everything on the blockchain, all the traditional assets, commodities, securities, stocks, and so forth. So let me give you to details. Fidelity Investments has filed to register a blockchain based version of its US dollar money market fund, joining the race
for tokenized assets. The filing said the fund currently uses the Theorem network and may expand to other blockchains, with the product expected to become effective on May thirtieth, pending regulatory approval. Fidelity, managing five point eight trillion dollars in assets, is the latest financial heavyweight entering the fast growing tokenized US treasury space, which has grown over five hundred percent over the past year. Guys, I hope you see what's
happening here. These Wall street firms are not playing around while retail is crying and scared, bull market's over this and that whatever. These institutional players are looking at the macro views seeing what is coming. We're we'reheaded everything on the blockchain. The economy and governments running on blockchain. Guys. Second takeaway, Ethereum continues to get adoption. Haters are going
to hate, right, but this is real world adoption. And as I mentioned earlier, black Rock is using Etherereum as well. Now they're not only going to use etherorem, they're going to expand to other blockchains as well, because it's going to be a multi chain world. But Etheroreum continues to get enterprise adoption. This is huge news if you're an ETH holder. You know, recently I told you guys, I bought the dip for XRP, Suie and ETH. So those are my bets, not financial advice, and I believe ETH
is going to do really well. I've been saying that once staking gets added to the Ethereum ETFs is going to be a game changer. You're going to see a lot of inflows and the price will surge. Look, every dog has its day in this bull market, right, Liquidity flows through. The question is who will be the leaders and which ones will outperform which So I think ETH is going to catch up and do well based on
these different factors. Now that you're going to see people in the comment section will probably be emotional, heat sucks, this, that, whatever, but it's just an asset on a blockchain. You may not like the people behind it, Vitalic or whoever, but that's different from the asset and the technology which these Wall street folks they're not emotional about it. They're just building and they see what's coming guys, so I hope
you do as well. So huge news here now, speaking of Etheroreum, there's a report here that high throughput Ethereum scaler mega eth use public test net, hitting twenty thousand
tps on day one, so transactions per second. So we continue to see there's different scaling solutions being built for etherorem because it does have a scaling issue, but you have to look at the pros and cons It has strong security, it has the smart Contracts pedigree, so that's why a lot of enterprises build on it despite maybe the fees and things like that, because the pros that way to con So mega eth the Etherum scaling solution,
backed by notable investors including Vitallic Booter, and launch its public test now on Friday. The team takes an opinionated stance on scaling that runs counter to the roll up centric roadmap that scales Etherorem through multiple layer twos. So many of you know, there's a lot of layer twos out there that help Ethereum from a scaling standpoint, and a lot of builders have been doing this right. Just look at coinbase. They have base which is their layer two,
but it doesn't have a token. But if Etherorem is able to improve natively on the l one right, so to speak, that will be really great and it should boost adoption guys. Now a great place that you can buy Ethereum, bitcoin, XRP and other all coins guys is on Uphold, which has three hundred plus cryptocurrencies. They actually just readded staking rewards for nineteen cryptocurrencies. This is a platform I've been using since twenty eighteen. It's really easy
to use. They are safe, they are fully reserved guys. They don't commingle or lend out your crypto funds, and you can review their transparency report. They also have a great rewards program which is amazing. You can earn up to five point two five percent on stable coins and part of this rewards program you get twenty four hour early access to new tokens that they list, so in order To participate, you have to open the app once per month, deposit fifty dollars once per month, and trade
fifty dollars once per month. And the stable coins they support are Circles, USDC, Ripples, r L, USD and paypalse p yus D. You get five percent on those and you get five point two five percent on USBC. This is an amazing program. If you'd like to learn more, check out the link in the description. Now continuing the news around Fidelity, so CSC registers Fidelity Salona Fund statutory trust. Impossible step towards an ETF filing. I know they use
the word possible. Let me give you the out come here. They will file for a Salona ETF. We see all of these Wall Street firms are in a race that get x or P Solana ETFs. Some are doing light coin, some doge coin. So Fidelity is not going to get left behind, and the black rock is not going to get left behind as well. So CSC Delaware Trust Company registered a new statutory trust named Fidelity Salona Fund. A new filing shows a Fidelity spokesperson declined to give additional
details on the filing. Several other asset managers including Vanek, Prochars, Gray Skill, and more have filed applications for Solona ETFs in the past. Fidelity manages the second largest bitcoin ETF by assets under management. So that's why I said earlier, right behind black Rock, there's Fidelity, guys, so huge news when they make a move. Now, Han Venture seeks one
billion dollars to fund crypto startups. Guys, I've been reporting news like this to you about funds, hedge funds vcs launching new crypto investment focused funds where they invest in the companies building the infrastructure of the market as well as token projects. Right, and you want to pay attention to this because these institutional investors, when they put money behind a token, it can do well. It's not the only factor, but if they're putting a lot of liquidity,
it can do well. So this is why you want to include this as part of your research. So, former DOJ prosecutor Katie Han's venture firm is raising one billion dollars in fresh capital to invest in early and late stage blockchain startups. The firm previously raised one point five billion dollars, which it largely deployed following the crypto market downturn in twenty twenty two. A couple of takeaways there. They're already raised over a billion, they're raising another billion.
I mean, do you see what's happening. They're getting the money. The capital's coming in once again, as retail is crying. Retail not looking at the macro, not paying attention. Now, I'm not talking specifically about you guys who are watching and listening, because many of you are educated. Many of you been here for a while. You've been doing the research, listening to the podcast, looking at the moves happening. Right,
We've been paying attention to the charts. We've been paying attention to the macro at M two and so forth. But there's a lot of people not paying attention while this capital is coming in. It's being invested, and these players are looking to make money. They're not put throwing a billion dollars or different crypto projects to lose it, guys, and we want to be on the side of smart money. Now.
Second takeaway here, they deployed the one point five billion dollars in the crypto market downturn in twenty twenty two. That was the bear market. They bought the blood on the streets Are you getting what I've been saying for years? Is it sinking in? Is it resonating by the lows, by the fear blood? Buy the blood on the street. You talk to Warren Buffett, He'll tell you the same thing,
and sell the greed, sell the euphoria. Once you understand these things in the context of the markets, and with the macro backdrop of M two and DXY and that started a podcast telling you guys about that, it becomes a lot easier to invest, It becomes a lot easier to navigate the markets. I'm not saying it's going to be one hundred percent easy, that there's not going to be turmoil like what we've been seeing recently, that the markets are not going to be a roller coaster rived.
Once you see the macroview, you know how to navigate the waters, guys. So I hope that's helpful. Guys. That's the final news item. Let me know what you think. Leave your thoughts and comments below hit the thumbs up button. A great way you can support me and the podcast, guys, is by subscribing to my free email newsletter. It's one hundred percent free. Link will be in a description. Check out my book on Amazon. It's available in paperback and digital and also check out my new course at mycrypto
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