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 well as the thumbsup button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please leave a five star rating and review. Folks, we got breaking news. The SEC has dropped their investigation against Ethereum. This is being reported by
Consensus. They tweeted out Ethereum survives the SEC. Today, we're happy to announce a major win for etherorem developers, technology providers, and industry participants. The Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum two point zero. This is massive news and we know the Ethereum spot ETFs are right around the corner. And this is not only big for ether theory, but it's big for all coins. The SEC is capitulating.
They are losing. Scumbag regulator Gary Ginser takes another big l Not only did he lose in the Ripple case where x orp was declared not a security, he also lost the Bitcoin ETF case where Gray scales sued the SEC, and the SEC got called arbitrary and capricious by the courts. Not only that, they just recently got sanctioned in the debt Box case where they were forced to close their Salt Lake City office. These are massive wins for the crypto industry
and Gary Ginser is looking like a fool. Just last week he was in front of the Senate folks asking for more budget. Senator Haggerty asked them, is he theoremic commodity? He couldn't even answer it. He was dancing around the question, and of course the CFDC chairman Rostam Benham was sitting next to him. He got asked the question is he theoremic commodity? And he said yes. So Gary Ginster is losing the narrative. Him and Elizabeth Warner are
losing. On top of that, you got Democrats are turning on them both in the House and the Senate, and you have Donald Trump who's coming out and saying I'm the pro crypto candidate. I'll protect your crypto, I'll will let I'll allow you to self custody your crypto, and I'll help you get clarity. So Ganser's losing here and it's amazing. It's a beautiful thing,
and this is very bullish for the market. They continue here saying this means that the SEC will not bring charges alleging that sales of eth are securities transactions. The decision follows a letter we sent on June seventh asking the SEC to confirm that the may Eth ETF approvals, which were premised on eth being a
commodity, meant the agency would close its Ethereum two point zero investigation. The closing of the ETHEROUM investigation is monumentous, but it's not a cure all for the many blockchain developers, technology providers, in industry participants who have suffered under the SEC's unlawful and aggressive crypto enforcement regime. Now, funny enough, guys, just yesterday we heard that the SEC's ahead of crypto was stepping down, right, We covered that news. So the timing of these things are very
interesting. And Gary is taking loss after loss, and people are leaving the SEC because they don't want to be part of some political agenda. The SEC's core mission is to protect investors, but Genser, under the control of Elizabeth Warren, has made it political and his agenda is to protect the incumbents to try to kill crypto's startups and projects so that JP Morgan and their blockchain and their jpm coin can come in and take over. That's the endgame. But
they're going to lose. This eruptive technology always wins. Look throughout the history of civilization, they said, Here our fight continues. In our lawsuit, we also seek a declaration that offering the user interface software meta mass swapson staking does not violate these securities laws. It should not take a lawsuit to provide the much needed regulatory clarity to allow an industry that serves as the backbone to
countless new technologies and innovations to thrive. But here we are, so huge news for the theorem, huge news for the all coin market, folks. This opens up the door for other all coins, especially those that are proof of steak like Cardnano, like algorand like Avalanche, like Solana. Right, the list goes on and on. So huge, huge win here, folks,
and a massive loss for Gary Ginzer. And remember the other factor too, is that the Democrats sided with the Republicans to pass the FIT twenty one Crypto Regulation Bill, which actually helps to bring clarity to the market and it takes away a lot of power from the SEC. And we saw the hearing
last week. The SEC is asking for more budget, but what some of the members of the Senate and Congress were saying is that, hey, we're going to cut your budget, especially if you're going to use this capital for enforcement actions against the crypto industry. So Gary is losing on all fronts, folks. It's a beatle. It's a great day, folks. What I'm really excited about, too, is if we are able to hear very soon in the SEC versus Ripple, if there's some settlement, and I don't think
the SEC is going to get two billion dollars. I think maybe they get one hundred million, fifty million, free hundred million, but that will be peanuts for Ripple, and then Ripple can continue to move forward and operate. And they already have the clarity for XRP and an etherorem has the clarity here, and this opens the door for the rest of the crypto market. It's it's amazing, uh. And we're winning, folks. We are on the
winning side of history. And as I've been saying, you know, first they ignore you, then they laugh at you, then they fight you, which we've been in in the past two to three years, and then you win. We're starting to transition from the then they fight you phase to the then you win phase. It's a beautiful thing. And here I want to
share some thoughts on some folks. Zach Ryans, who's a community lays on a chain link and chain link is built on Etherorem said the politically driven approval of the spot ether ETF was monumental, not because of the ETF, but because the SEC was forced to admit that eth is in fact a commodity and
not a security. Glad to see that has been officially validated. Genser just can't stop taking the ls now, guys, this is of course bullish news, but with this clarity, you will see a lot of inflows into the Etherrem's bottytfs and Arabel Tunis of Bloomberg and also James Safer. They moved up their launch dates for the approvals to July second. Now that isn't guarantee it's
going to happen then, but it can happen on or around. We saw they were pretty accurate with the bitcoins potty TF so it's coming and we're seeing the issuers of the etherm' spotytfs are updating their S one applications. So here Nakarachi of the ETF store said, here comes the spot ether ETF S one amendments. This one is from bit wise. Assume others will trickle in over
the next few days. So the secs engage with these folks. They're updating their s ones, which is the final phase before these Etherorem spottytfs go live. And check this news out. Bit Wise says Pantera Pantera Capital. That's Dan Morehead. I had him on the podcast years ago. He was one of the first hedge funds investing in crypto before all the other people came along. They are interested in buying up to one hundred million dollars of shares of
the Etherorem's BOTYTF from bitwise. Huge for bit Wise, and you know they're not the size of black Rock, but they're doing really well. I've had Matt Hogan, I've had him many times on the podcast talking about ETFs and much more. This is huge news, so I'll try to get him on pretty soon. And we're seeing basket ETFs are starting to pop up now. So James Seifert said a dual e theorem and bitcoin spot ETF filing from hashtacks
just dropped will be market cap weighted. Shouldn't be a surprise to anyone. Makes a lot of sense. So we're gonna see these basket ETFs eventually. As we get let's say Solana XRP Cardano ETFs, you're gonna see the top ten or the top five in these baskets. Right, it's coming. Bit Wise is actually doing this outside of ETFs. They have an index one. So these things are coming, folks. It's like I've been saying for a long time. Starts a bitcoin, then it will go to a theorem,
and then the other all coins. It's not a matter of if, it's a matter of when, and we just have to be patient. So huge news here. And as I mentioned earlier, Donald Trump continues to put out there that he's the pro crypto candidate. And today he was in Wisconsin doing his campaign promotion and all that, and here's a quote again, he said, to further secure America's future and create opportunity for young people, I will
end Joe Biden's war on crypto. The Biden administration is feeling the pressure. That's why they're doing this Crypto roundtable coming up with Mark Cuban and Democrat ro Kanna. The pressure is on. So whether you hate Trump or you love Trump, forget about the man himself and the name, because I know that triggers people. The fact that you have a presidential candidate saying these things is
huge, folks. Don't miss it. Don't be blinded by Look, I don't agree with Donald Trump on everything, and I'm not the biggest Donald Trump fan. I'm more of a moderate and I vote for who's the best candidate, regardless of if they're a Democrat or Republican. But I got to respect what he's saying as it relates to this issue. He says, we will ensure that the future of crypto and the future of bitcoin will be made in
America, Otherwise other countries are going to have it. Wow. I mean, these are incredibly bullish statements, folks, And once again, don't be blinded by, Hey, I hate Trump. Put aside that for a second.
This is a presidential candidate saying it, a former president saying it, and I think it will eventually make Biden capitulate if he saw my interview with Cody Carbone of the Digital Chamber this morning we talked about with the presidential debates coming up, crypto is gonna come up and you're going to see a lot of people start talking about it, so be sure to check out that interview. Guys. All right, quick word from our sponsor, and that is
v chain. Vchain is one of the top layer one enterprise blockchains out there where many big companies and brands are using v chain to build sustainability projects, decentralized applications, and many other web three technologies. V chain is partnered with some very big brand such as BMW, Walmart, China, jivon Chi. They're working with the Boston Consulting Group. V chain is secure, it's affordable, it's scalable as fast, and it's sustainable. I've been a vet token
holder since twenty eighteen. I'm very bullish on this project and it's why I accepted them as a sponsor because I actually believe in this project. I have skin in the game and I've been a big fan before you know working with them. So if you'd like to learn more about v chain, go to v chain dot org. Link will be in a description now. Folks, if you've got some very interesting new is being reported here by Eleanor Tarrata Fox
Business. Apparently an organization called Consumers Research, which is their slogan, is organized to serve consumers. Established in nineteen twenty nine, they at launched an ad campaign targeting Tether and calling it the next FTX. They're saying it Tether has ties to terrorist trafficking. They were founded by former Disney child starts that they're talking about Brock Peers, who I've interviewed, and Brock is not even no longer with Tether. But this seems like a major fud campaign. I
don't know who's doing it now. There are some questions about Tether. I want to be fair. Over the years that there's been a lot of questions about their reserves and what are they doing, and so on and so forth. Now we know stable coin regulations are coming in the EU as well as the United States, so let's see what happens here. I think Tether back in the day, as I've said many times, was not in a good place. I think they are now. They've been doing attestations. We saw
Cancer Fitzgerald's CEO. That's a Wall Street firm who custodies a lot of Teather's fund said they have the money. He said this at Davos earlier this year. So we're seeing that Tether has positioned themselves in a better place now. I interviewed the CEO a couple of months ago as well. However, I don't have all the details, so I don't think there is necessarily this massive
conspiracy and all these things. Right, people go nuts sometimes with the fud I do think though, Tether needs to come into compliance with regulations, and we'll see they probably get fined. I think a fine is in order. I think they're gonna have to comply with kyc AML laws. It's kind of like what happened with Finance and so forth right. It's the cleanup of the market. I've been telling you guys, the cleanup is happening. It can't be the wild wild West anymore. At one point it was, and that's
fine. You know, every market goes through that. But now everything is coming into comply I don't think Teather is getting shut down like the fudsters would say. I think Teather will get fined and Tether is going to have to align with the government regulations across the globe. So I like to keep things balanced. But this is an interesting ad campaign. And folks, they even did a Time Square digital billboard to have the domain tether too corruption dot com.
Now the thing is, I get you're trying to amplify the news here, but seventy five percent or maybe eighty percent of the people walking around times Square don't have the slightest clue what the hell teather is. So I don't think this is necessarily a good campaign here. You know, maybe they said crypto corruption or something like that. Right, people will say, oh, crypto, I know, but crypto, but they say tether. But it's like who No one knows what tether is, right, The average Joe and
Jane don't know that. You and I know that because we're in crypto. We're early adopters. But it's interesting, and I don't know who's behind this because look, I understand people are trying to short the market. They may put this out here to drive fear. There's also competitors. I don't know if competitors are doing this. They could be or they could not be, right, and competitors could be PayPal, Ripple, which is about to launch
a stable coin soon. And you have circles USDC and there's other stable coins out there, so we'll have to wait to get more details. I'm actually going to try to get the folks at a consumer first on the pod to talk about this, like where did this come from, who's funding it? And much more, who's funding it? It's certainly important. Now speaking of FUD, you know, there's been a big pullback in the crypto market. I see people are panicking, and it's good. I've been calling for some
fear on Twitter. I've been sharing the bitcoin fear and greed indexing people have been so greedy. We need to feel a bit of fear before we bounce upwards. We are still in a bull market. We are still in an uptrem As I've been stating recently on the podcast. If bitcoin breaks sixty, that's when I'm going to start to worry a bit, because it's going to be like, Okay, something is very different, But until it invalidates itself,
I'm not going to panic. I'm going to look at the charts and take a look at the signals and pay attention closely to see what the next move is. But the higher probability here is we are still in a bull market, still in an uptrend. There is a probability okay, it's done, it's at the end, but that's a very low probability in my opinion. We get some different analysts who gave some updates here here. One of them said, anyone who tells you this is a bearish price action should be
unfollowed immediately. To be honest, we are currently flipping the previous all time higher resistance slash wis into support as volume declines. Remain patient. Step six on my list will begin much sooner than most think. So step six is the actual having supply and demand kick in another leg up eighty ninety one hundred K. So I'm in agreement with that based on my own analysis, not because I'm a super Bowl or you know, I want to make money.
I'm just looking at the charts because I don't want to be an idiot and be faked out, right, I don't want to lose money. So I'm
doing my own analysis and seeing the same signals here. Julian Biddle of Global Macro Investor that's Ralph Palace Firm said, what we're currently witnessing and in terms of Bitcoin price action, is fairly typical around the actual having a big pump leading into the having followed by a brief but sharp correction, a period of sideways chop, a final dumb to nuke any remaining bullish sentiment, another phase of boring, sideways trading, and eventually price is beginning to rise again.
Basically, it's the boring zone before the banana zone. As Ralph pal has been saying, Julian says, patients friends, so as I've been saying, guys, be patient. This thing is still an up trend. It hasn't been invalidated yet. And you can't go by sentiment. I see people will say, oh, it's over, blah blah, and I'm like, well, what are you basing that on? Give me some data, give me
some facts, give me some technical analysis, give me some charting. They don't they just go by sentiment because I don't know they think that's They go with herd mentality sometimes. So anyway, guys, that's the news, big news. Like I said about Ethereum, huge huge, huge, massive win for the crypto industry and a big fat loss for Gary Genser. And folks, don't forget to grab a copy of my book Rethinking Crypto. Grab a copy and paperback or Digital, get a couple of copies for your friends and
family. If you bought a copy already, please leave a rating and review. It would really help me out and support the podcast. Thank you for watching and listening, and I'll talk to you all later