🚨BLACKROCK MEETS SEC CRYPTO TASK FORCE TO DISCUSS ETFS! COINBASE XRP FUTURES! - podcast episode cover

🚨BLACKROCK MEETS SEC CRYPTO TASK FORCE TO DISCUSS ETFS! COINBASE XRP FUTURES!

Apr 04, 202518 min
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Episode description

Crypto News: BlackRock officials met with the SEC Crypto Task Force this week to discuss the firm’s existing cryptocurrency ETFs and the potential of allowing future in-kind redemptions and creations for them. Coinbase is launching XRP Futures in April. Cardano Foundation launches 'quantum resistant, globally interoperable' digital identity platform Veridian.
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Transcript

Speaker 1

Blackrocks officials meet with the SEC Crypto Task Force to talk all things crypto ETFs. I'll give it to details, and Coinbase will be launching XRP futures. This is very good for the approval of the XRP spot ETFs, and the Cardano Foundation launches a new digital identity platform. And there's huge adoption on the Avalanche blockchain, with a massive industry building on Avalanche. I'll give you all the details. Let's get into it. Hey, everybody, welcome into the Thinking

Crypto Podcasts. You're home for your cryptocurrency news and interviews. I'm your host, Tony Edward. On your way in. Please let that subscribe button as well, so thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please leave a five style reading and review, folks. The tariff turmoil continues. Over three trillion dollars was erased from the stock market today and overall, though bitcoin itself is holding up pretty strong.

I'm actually very surprised by this. Pleasantly surprised because I thought bigcoin would be tanking. But I think this stock market, which is more tied to businesses in the economy, it's going to feel the pressure more because tariffs impact businesses, right and consumer spending, while bitcoin is a financial network, a store of value that is not affected so much

by tariffs. Don't get me wrong. All markets are going to be affected by this because it depends on consumer sentiment and investors sentiment because if they see uncertainty, and you know, they don't like that. Markets don't like uncertainty. But I think a bigcoin's going to be less affected in the crypto market as well. And overall, global liquidity is still up and the dollar is still crashing down. So these are still factors that are conducive to bull

markets and for bullish rallies. And when I look at the charts, guys, you know, I look even at the S and P five hundred on the daily RSI, all I'm seeing here is a retest of the over soul zone. And this is something we've seen before. So let's see what plays out. Could we find the bottom soon? Remember, markets don't go down forever, guys. Likewise, they don't go up forever. It's a cycle that plays out with sentiment, global liquidity, and much more. And you know, people are

gonna be buying up the dips. You know, Warren Buffett is going to be buying the dips on the stock market. He's been sitting on a ton of cash since late last year. So this is the patience game, and we've got to get through this short term macro situation with tariffs. It's annoying, to be honest, because it's back and forth, red light, green light, it's on, it's off. It's so annoying.

In fact, Arthur Hayes, who I will be interviewing next week, said Trump's tarrorf formula is further evidence he's laser focused on reversing these imbalances. The problem for treasuries is that without dollar exports, foreigners can't buy bonds. The Fed and banking system must up to ensure a well functionings treasury market, which means Burr essentially the money printer. Here is your narrative,

the clearest day for the return of quantitative easing. Guys, We've been talking about it for a long time, right, I've been mentioning it in my newsletter NonStop, and I keep pointing to this because this is what drives markets. Yes, on the micro you have individual performance of different cryptocurrencies based on adoption and much more likewise with the stock market, how a company performs m and as, revenue, earnings, all that jazz. You guys know how it operates. But from

the macro, it's all following global liquidity. I like what Douglas Bonaparte had to say. You know, he's a registered investment advisor and I've had him on the podcast. He highlighted, you know, the major market crashes we've had in our history, going back to at least the nineteen seventies, the oil embargo in nineteen seventy three, Black Monday nineteen eighty seven, dot Com bubble burn two thousand, global financial crisis in two thousand and eight, COVID nineteen and twenty twenty, and

now tariffs twenty twenty five. But he said, yet the market goes up, that's because the global liquidity goes up. The Fiat currency, the basement in printing goes up, guys. So I hope you understand the macro view here. Now moving ahead, guys, we have news here that Blackrock met

with the SEC Crypto Task Force. So journalist Eleanor Tarott is reporting a delegation from the world's largest asset manager, Black Rock met with the SEC Crypto Task Force this week to discuss the firm's existing crypto ETFs and the potential of allowing future in kind redemptions and creations for them. Huge on multiple levels. First, Blackrock meeting with the SEC Crypto Task Force. Despite all that's happening in the market right the turmoil with the tariffs, they're still meeting because

they have a macro outlook. They know this is the future. It's still business as usual. We got to get our work done here. Two, what they're meeting about is really bullish because it's the inkind redemption. So if you want to redeem your assets out of these ETFs, the crypto assets, it's not settled in cash. It will be settled with the actual asset. That is bullish, right, We want to get away from the cash aspect and to the actual assets themselves being part of the transaction. So very bullish.

Black Rock's not slowing down. Just recently I reported to you guys their expansion to the UK, expanding their bitcoin etf, launching their offices and things like that in the UK, specifically around crypto. It's amazing what is taking place the world's wealthiest asset manager is not playing around here, guys. Now, we also got news that the SEC acknowledges the filing of Fidelity spots Alana et apps. So Fidelity recently did this, and I think multiple all coin ETFs will be approved

this year. I think they're waiting for Paul Atkins to come into office. And in fact, we got use here that the SEC chair nominee, Paul Atkins has been voted through the Banking GOP Committee. Next up in the process, his nomination will move onto the full Senate for a vote. I think he's going to get through, right. We got the most pro crypto congress here, guys, so I don't think there's any roadblocks here. So he's going to get through, guys.

And I think he's going to help wrap up a lot of the loose ends from the bite in Gary Genzer Elizabeth Warren regime and their tenure and get some of these all coin ETFs approved. Possibly we get the

full confirmation from the SECA regarding the Ripple lawsuits. Now, on that note, with Ripple and XRP and ETPs and all coin et apps, Coinbase Institutional today said we're excited to announce that Coinbase Derivatives has followed with the CFTC to self certify XRP futures, bringing a regulated, capital efficient way to gain exposure to one of the most liquid digital assets. We anticipate the contract going live on April twenty first, twenty twenty five. Stay tuned for additional details

on launch timelines and availability. So do I necessarily care for futures No, you know, that's usually used to short the markets. But what has the SEC needed in order for spotting ts to be approved? And we saw this with Bigcoin and ethereum. They need the futures markets. This is the second futures markets that will go live. I think Bentnominial is the other one that launched about a few weeks back. So this is very good. It bodes well for the approval chances of the spot ETFs for XRP,

and I think the SEC will do it. They'll do it for Solana, they'll do it for XRP and others. Guys. And one of the things I've been telling you all about it's not so much these individual ETFs and their performance, it's the basket ETFs. The index Grayscale recently filed to have their large cap fund converted to an ETF So that's going to drive a lot of inflows in my opinion, because it's how the majority of investors, you know, gaining exposures to markets. They buy the index, they by the

S and P five hundred, the NASDAC and much more. So. This is really really bullish for the chances of the XRPS body. You have to be approved, guys. Quick word from our sponsor, and that is Treasure. Treasure makes incredible hardware wallets that allow you to easily and safely self

custody your crypto assets. In fact, guys, they were the pioneers of the hardware wallets and creating the seed phrase set up and much more so, they're the ones that started it, and they've been at this since twenty thirteen. And I'm a user of the Treasure Save five hardware wallet. It's beautifully designed, easy to use, and they have multiple devices. They also have a service that helps you to onboard and set up your device and you can chat with

a Treasure representative one on one. It's really great. So they have a lot of beautiful devices and they support a ton of coins guys. Of course your major coins like your bitcoiny, Theorem, RP, Solana and much more. But a lot of new coins like Onto and even black Rocks Biddle token they support that. So the full list is on their website. Guys, and they have a Treasure software suite which allows you to easily manage your coins.

So great, great hardware wallet, beautifully designed. I have a bunch of these, and they actually have a promotion going on right now called Satoshi's Birthday Special. Two for one bundles plus up to thirty percent off ends April ninth, so you got six days to take advantage of this. So guys, if you'd like to learn more about Treasure and their great hardware wallets, check out the link in the description. All right, folks, we got some interesting updates

around Cardono. So Cardano's Foundation launches a quantum resistant, globally interopperable digital identity platform, Ridian. This is interesting and notice they said quantum resistant. So this is an open source digital identity platform and it's intended for both individuals and organizations. Varidian uses open source key event receipt infrastructure, decentralized ideas, entifiers, an authentic chained data container, a lot of long words there,

credentials to verify identities and authenticate online communication. According to a release shared with the block Launching alongside Veridian is the Varidian wallet, which lets users manage their credentials, private keys, and identifiers. Here's a quote. We believe your identity should

be your secure, authentic and under your control. Thomas A. Mayfield, head of Decentralized Trusts and Identity Solutions, that the Cardina Foundation told a block With Veridian, it is now possible to build quantum resistant, globally interoperable in enterprise grade solutions for individuals and organizations. Varidian competes with other blockchain based digital identity projects such as whirl and Humanity Protocol, where

both platforms collect and individual's biometric data to prove their humanity. So, just so you guys know, the Cardina Foundation helps support the development of the Layer one blockchain Cardano. Varidian will serve as an optimal trust layer for the Layer one blockchain, so kind of like a Layer two or pseudo Layer two. But guys, this is the future, and that is digital identity.

We've been talking about the token economy. I've been telling you guys, they're going to put everything on the blockchain. So will your ID is your passports, your driver's license, all of that, and you won't have to carry multiple documents. It will all be on a digital wallet and you'll be able to access different things will be so seamless. But of course, as they highlighted here, it has to

be quantum resistant. So as quantum computing gets more sophisticated and it progresses to a point where it's a threat overall, not just a crypto blockchain, but the financial system and the way we've done things historically, this is where blockchains are going to have to become quantum resistant, and the developers and different folks are working on this, right because remember you know, sometimes people say, oh, what if quantum

computer comes and shuts this down. Well, the same type of computing power that is generating the quantum computing so to speak, that's going to be used to run blockchain validators and nodes and mining rigs and so forth. So people sometimes put blinders on and it's like, oh my god, right, it's as though the developers aren't actively using the same technology. And look, if quantum computing is a threat, the last thing I would be concerned about is blockchain. The banks

are going to be in trouble. Those are the institutions that have all the money right and a custody of a variety of assets, so that we would have bigger problems. Right what if quantum shuts down our electricity grid or this traffic lights and we would have bigger problems essentially

what I'm trying to say. But I think as the technology quantum computing progresses, so will the infrastructure for blockchains and the infrastructure that powers our society and how we live and travel, and all these things will be upgraded as well. So watch out for people who like to fear monger and you know, oh my god, quantum is going to destroy all these things. As though it's inlive to like one source, it's not available in different places

where you can use the same technology. But I digress. But big news here for Cardono. Now we've been talking about Avalanche. They've been getting a lot of adoption guys, and avax is a native token on Avalanche. I actually hold a token in my portfolio. Will they twitted it out? Today?

A twenty trillion dollar global industry moves to Avalanche. Water WATR, the blockchain infrastructure purpose built for a commodities market, is migrating to avalanche layer one, bringing metals, minerals, food, and fuel into a composable and programmable future. Guys, you know, I've been saying NonStop the governments, the markets, and the economy will run on blockchain. I'm not bullshitting you. They're going to put it all there and blockchain is going

to power all these things. Guys. So this is why this is an opportunity of your life. Now, We're still so early, so they said. While massive in scale, the commodities industry has yet to fully benefit from blockchain infrastructure that can enhance liquidity, broaden access, and drive innovation. The Water Protocol is building an on chain foundation to redefine how commodities are financed, traded, and governed. Man, it's amazing what is happening. And the majority of people in the

world are not paying attention. They're not doing their research, they're not reading up on stuff like this and seeing the big industries that are building. But this is the nature of markets, right, and those who take the time to pay attention are curious and go the next step of researching and educating themselves and taking a position in the market. Of course, will be rewarded Now some interesting

news coming out around Senator Ted Cruz. So he introduced a bill to incentivize entrepreneurs to use wasted natural gas to mind bigcoin. Now we know he's out of Texas. There's a lot of bigcoin mining there. But what we're seeing is that the use of wasted energy and blow off energy is now being used to mind bigcoins. So I think once they put it into a law that these energy companies can do this, you're going to see some of the biggest energy producers do this. And it

makes sense. They can monetize that wasted energy and use it towards mining bitcoin. Fur their secure as a network and they can get the monetization right, be able to mine bitcoin, hold on to it if they want as a reserve asset, or sell it. That's the great thing about the decentralized network. Anybody can plug in in mind. So really big here for the energy sector. And once again things like this not getting mainstream coverage on CNN,

Fox and things like that. Right, majority of people are hyper focused on tariffs, and don't get me wrong, it is something we need to pay attention to. Or they're hyper focused on celebrity news and this and that and gossip instead of paying attention to what the hell is happening here now final news which is really big in my opinion, and former Binance CEO CZ tweeted out about it. He said, Kyrgyzstan crypto adoption one country at a time also brought a head of state on two x. So

Kyrgyz Steyan is adopting crypto guys. So head of the state, I'm not even going to try to pronounce his name. Sadir zaparov okay I butchered it, he says. A memorandum of understanding has been signed between the National Investment Agency under the President of the Kerg Republic and Chan Peng Zhao CZI. In accordance with the memorandum, the parties intend to cooperate in the development of the cryptocurrency and blockchain

technology ecosystem in the Kirg Republic. This includes providing infrastructural technological support, technical expertise and consulting services on cryptocurrencies and blockchain technologies, as well as implementing educational initiatives. Huge, guys, it is a global movement adoptions happening all over the world. Different countries are at different stages. Just the other day. I think I acheed with you guys about a month ago.

Pakistan also, who was getting involved. You know, countries which you think wouldn't necessarily be focused on things like that. But this is the future and I think a lot of these countries are recognizing it. And there's jobs here, there's revenue here. But just you can't get left behind here. You have to upgrade your systems and integrate blockchain in different ways with the government, with the economy, with the markets. Right.

So it's amazing what's happening in and it's great to see cz is offering some consulting here and helping to boost crypto and blockchain adoption. So huge, huge news, folks, that's the news. Let me know what you think. Leave your thoughts and comments below hit the thumbs up button. A great way you can support me in the podcast is by subscribing to my free email newsletter. It's one hundred percent free. It's on substack linko being a description.

Check out my book on Amazon, it's available in paperback and digital, and my new course at Mycrypto course dot com. This is a comprehensive course that covers every aspect of crypto, expand your crypto knowledge. Knowledge is power and discourse what makes it unique and different from everything out there, Guys. It features expert comment are from founders, CEOs, and institutional investors. So if you'd like to learn more, go to Mycrypto

course dot com. Guys, thank you for watching and listening. I appreciate you all, and I'll talk to you all later

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