Elizabeth Warren's anti crypto Army candidates are losing in the elections. One of them has just taking a big loss, saying Elizabeth Warren cost her her career in Congress, and CFDC chairman testified today before Congress saying the SEC's Prometheum stance with Ethereum could cause problems between the agencies because Prometheum is treating Etherorem as a security and El Salvador's bitcoin holdings hit a record one hundred and sixty four million dollars
as the profits passed fifty million. We're gonna break this down and much more. Let's get into it. Welcome to the Thinking Crypto Podcasts. You're home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please leave afore five star rating and review. It supports the podcast and it doesn't cost
you anything. Well, folks, let's take a look at bitcoin right now. Still consolidating. As we've been talking about, Bitcoin's going to consolidate here, build some support levels. It may even go a bit lower, but that's fine. This is a healthy pullback. We are building support levels to go to higher prices, so we have to be patient. Now, the all coins continue to move. Etherorem today was looking really strong. It is
currently sitting at thirty eight hundred dollars. It looks like it wants to go to new all time highs as well, so we'll pay close attention to this and other all coins are popping off. In fact, we have the AI tokens going crazy, going on a rampage Render fet dot Ai Trace as well, and I will hold both Render and Fat. You guys know that I talked about it since December twenty twenty two. AI tokens will have a huge narrative, a huge opportunity here in this bowl market. And I've took some
profits on Fat. I'm waiting to take some profits on Render, but beautiful, beautiful call on that, and I'm thankful and I'm taking profits. And once again, guys, you may not become a millionaire from holding these tokens, and that's fine, but you may walk away with tens of thousands or hundreds of thousands of dollars on these tokens, and it's a nice return as long as you're making money and walking away from this market with money at the
end of the bull market cycle, you're winning. So please have some perspective on that. Great things are ahead now. Mark Cuban was on CNBC. He was interviewed and giving bitcoin some prime time view where he said bitcoin is a great store of value and that's why he's invested in it. Those of us who are in crypto, we know Mark has been bullish on crypto year after year. He's had NFTs and much more to Dallas Mavericks at one point,
we're accepting crypto and all that jazz. So Bitcoin getting a lot of mainstream media, prime time exposure here, so great to see what's happening now. El Salvador bitcoin holdings hit a record one hundred is sixty four million dollars as bitcoin profits passed fifty million dollars. There a lot of naysayers, a lot of people writing negative articles about El Salvador, and their president has actually
been trolling. He's been tweeting memes like waiting for the apologies, waiting for the retractment of those articles that you know saying El Salvador is making the hugest mistake in the history of the world. But they are up in their holding spokes, so let me give you some details here. The latest data from Monitoring Resource Bitcoin Treasuries estimates that El Salvador's bitcoin holdings are up fifty million dollars
against their cost basis. Bitcoin was first approved as legal tender in El Salvador in twenty twenty two, and since then the country's stash has gone from bear market rags to record riches. Since its president Naibu Kelly, announced the government would start purchasing one bitcoin per day, it has a mask approximately two three hundred and eighty bitcoin, which is valued at around one hundred and fifty eight
point five million dollars. Folks, this is going to set a new standard and expect game theory to play out that other countries are going to do this. Now I'm not talking about first world superpower countries like the United States, are China and so forth right, it's going to start with smaller countries. We're looking to boost their GDP and boost economic activity. They're going to do this and El Salvador is a great model here for the rest of the world.
So it's incredible what's happening. And the bitcoin e taps are going to make it easy for said countries to even to invest in bitcoins. So keep an eye on on this, folks. This is going to be very interesting. Now, let's look at the top social media trending coins here. I'll refresh the data from sentiment, and the meme coins are ruling the social media mentions. Dog with dog with cat, dog with hat that is leading with a large positive sentiment. Shiba Inu is at number two. We got fat
dot Ai. We just talked about some AI token's track as well. That's another AI token near to near protocol at five, doche coin at six, Ethereum at seven, Dent at eight, but it has a very high negative sentiment at fifty point five three percent. So I'm not sure what's going on with dent node or whole network which the token name is node. And then you have ton token. I've never heard of that. So those are your top ten trending and once again meme coins dominating the list here because meme coins
have been going crazy. Obviously you got some AI token sprinkled in there. So this is what's happening on social media with these coins, folks. Now quickly from our sponsor and that is bitgo. Bitco is one of the top crypto custodians in the market. They are a tier one crypto custodian. They have survived many bull and bear markets and they are used by Pantera Capital,
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and now he's here building in Web three. So if you'd like to learn more about bitgo, visit bitgo dot com. Link will be in a description. Now, folks, some very important news that you should know about. Many of you know Elizabeth Warren is anti crypto. She ran on the campaign that she's building an anti crypto army. She has been colluding with scumbag regulator
Gary Genser. We know they have been coordinating attacks against the industry. Well, there are people who are tied to Elizabeth Warren and who are part of her anti crypto army. Well, yesterday you had the Super Tuesday at elections start right, Well, here's some interesting news. Eleanor terryt to Fox Business reported Crypto superPAC Fairshake, which mounted a ten million dollar ad campaign against Katie
Porter, and she's the one that's aligned with. Elizabeth Warren released the below statement following her defeat to Adam Schiff in tonight's California Senate primary, saying her choice to side with Senator Elizabeth Warren listen to this against crypto costs her her career in Congress. Wow, Wow, what an epic defeat for Elizabeth Warren. Folks, This goes a far away because Elizabeth Warren is only as strong as that some of the people who are backing her and tied with her.
Remember, she's just by herself saying I'm building an army. No one's going to care. But when she has other cronies position across the country right that are trying to be anti crypto just because they want to kiss her ass and
they're losing, that's a great win for the crypto industry. And this is why I've been sharing with you guys that this these super PACs have been raising fund some coinbase from Ripple, from Andreesian Horowitz, and they're using it to build awareness of these corrupt politicians like Elizabeth Warren who are against freedom from people being able to invest in crypto and much more. Right, So, this is huge news. And here's something else that Eleanor shared, she said.
In addition to Adam Schiff's win over Katie Porter in California, other pro crypto candidates in Texas and Alabama had dominant first place finishes in their races. Alabama's Shamari Figures is that the name? I apologize, Yes, I guess that's his name. Shamari Figures will head to a Democratic primary runoff in April with Julie Johnson and Texas secured over fifty percent of the vote to put her in the running for it. Says here Colin Allarid's seat in November, folks,
the pro crypto candidate, they got some momentum here. We're seeing some wins coming in. And this is what I've been saying for a long time. Crypto is a ballot issue. Now it's not in number one issue. It's not number two, probably not number three. It may be number five or six, right, because let's be realistic. There's all the problems in the country, inflation, the border and all that, right, we want to be realistic here. And the fact that you know, these pro crypto candidates
are winning is a good sign. And I think we saw that when the presidential candidates came out and they were supporting crypto, you know, like Ron de Santez, RFK Junior as well as Vivek Ramswami. So, folks, something very interesting is happening here. Crypto in politics and playing a huge role. Elizabeth Warren chose the wrong side and she's going to feel the results of that in the polls. And we know John Deaton, our friend John Deeton,
is running against her to take away that seat. And I believe John can win. He's going to get the support, he's going to get the ad campaigns from these super packs, and we got to donate to him. So please donate if you haven't already. John Deeton for Senate guys, please donate if you and he's accepting crypto now, so whatever you can do to support him would be awesome. But this is a guys, I'm super happy to see this. This is a great, great sign. I'm telling you.
Elizabeth Warren in her camp right now are not happy. And that's why she's been so scared. You know, she's been sending out tons of email. She's been asking other Democrats from other states to come help her to fight John Deaton. John John is still trying to raise money as someone who has no political background but is a fighter and believes in freedom and the American Constitution versus Elizabeth Warren. Right, so, guys, she's scared, and I
think this is a sign right here. What's the comm now today? CFTC Chairman Rosston Benham was testifying before Congress and some interesting statements came up, and here's the headline. CFDC Benham says Prometheum's eat stance could create interagency conflict bitcoin and etherra commodities. Benham said, but if the sec claims otherwise, things could get complicated. Remember what I've been saying, And I interviewed Aaron Kaplan
a Prometheum. They are calling etherorem Prometheum, that is Digital Asset Securities who has been saying that, Gary Genser, he's the one that coined that term digital asset securities. And he refuses to echo J. Clayton and Bill Hinman and say etherorem is not a security. Patrick McHenry and the rest of Congress grilled the hell out of him and he wouldn't say. And we just saw
they denied the Black Rock Etherorem ETF. Now we'll have to wait and see, but clearly Rosst and Benham is saying, hey, we're seeing some deviation from how the agency has acted in the past because we believe it is a commodity and if the agency says it's a security, we're going to have problems. That's the TLDR. So, folks, it's gonna be very interesting. But you know, the industry is going to sue the hell out of Gary Ginster if he denies the ETFs by the May twenty third deadline, and we
saw he lost already in court. But you know, Elizabeth Warren, his handler, may make him enforce him to go against the industry and deny the ETFs, but we'll have to wait and see. Nevertheless, we're gonna fight and we're gonna win because the law is on our side. And remember the
SEC guy called arbitrary and capricious for denying the Greyscale bitcoins boty TF. Here's a quote from Benham today from my understanding essentially reading the press and talking to my staff who have reached out to the SEC, this was an independent decision by Prometheum to signal to the market that it is their intent to custody Ether, Benham said when asked about how the SCFDC views Ether. So this is these statements are not good for Ganinster because just shows that there needs to be
crypto regulations. While Gary will say it's very clear, the rules are clear, there's no need to do anything right. But that's his talking points handed down for him from Elizabeth Warren. Here's another quote. How this plays, obviously is very critical. The issue is we do have an action by the
SEC essentially validating Prometheum's decision constituting Ether as a security. It will then put our registrants, our or exchanges who list Ether as a futures contract of sort or in non compliance of the SEC rules as opposed to to CTC rules. So this is going to be very interesting, and this is why Congress needs to act because Gary Genster is out of control and here you got the other agency just saying like, we're not in agreement with what's happening here, with
what the SEC is doing with Prometheum. Now, yesterday we talked about shape Shift and the SEC going after them, issuing a cease and desist, and then shape Shift decided to settle. But it was like for two hundred and seventy five thousand dollars and they were claiming the SEC was claiming that it was for stuff that happened back in twenty fourteen to twenty twenty one, kind of retroactively going after them, which is asinine because the business model has changed.
They're not a centralized exchange anymore. Their decentralized exchange. Well hester purse and mark Youveeda, I would know a surprise here they issued a dissent and you know highlighting the following the SEC one doesn't specify which of the seventy nine assets might constitute investment contracts. So what was interesting in this settlement No mention of
the actual tokens. So maybe Gary Ginser scumbag. Regularly Gary Ginser was getting called out, you know in the coinbase and crack and lawsuit where they were highlighting tokens, but not giving those tokens due process and litigating them individually. Right, he's trying to sneak the tokens in saying these are securities and don't ask me why I just picked them random tokens. Right. The sneaky scumbag
move number two here doesn't allege any frauduct or consumer harm occurred. So once again, this was a bullshit move by Gary you here, and he's just trying to rack up wins because he's been taking major losses. And from a PR standpoint, it's been horrible for the sec But great to see hester person market waited coming out and dissenting. And some of you may say, hey, I'm tired of all the talk. Well this is part of the process, right, in order for Congress to act for them to have AMMO.
It's good that these commissioners are coming out and saying, hey, this is wrong. We don't agree with the other commissioners. So really, really good stuff. It was a great write up here. You guys should definitely read it now. Adam Cochran, who works in the crypto industry, tweeted at the following, which I thought was great. He said, if Joe Biden
wants to appeal to fiscal Republicans and independence. I know a lot of single issue voters who really want to see Gary Ginter replaced with a competent chair like hester Purse. We've been saying that on the podcast Forever Right. Put hester Purse as the chair. He says here against her. One refuses to give guidance our policy to the industry to bullies small US startups example of shape Shift has led to the highest turnover and lowest job satisfaction rate at the SEC.
A lot of people are leaving, a lot of turnover. The people are complaining about the Gary's just going nuts over there. Number three has lost court battles with Crypto at every turn. Number four denied Americans access to a big, tiny TIF until courts forced him to catch up with the rest of the world. And five has sent millions of jobs overseas by creating a chilling effect on fintech industries. He says they're replacing gangster in the new administration. Isn't
controversial as most people don't know who he is. Those who do know don't like him. A large chunk of Crypto are single issue voters. A large chunk of fiscal Republicans want to see an admin that can reach across the isle of physical policy. He says, seems like some real low hanging fruit to commit kicking Genser to the curb and having Hester purs propose some new crypto regulation,
something that Senator Elizabeth Warren Callsworth against their fails to deliver. So I'm in a total agreement here, and I think people are going to start to push the Biden administration to do this. Will they do it? I don't know. You know, we'll see especially you know, it depends on who wins now. I tweeted at Gary Gainster today because I'm sure some of you saw your community bank crash forty two percent. They had to halt trading.
Some are saying this is a banking crisis. Remember last year a whole bunch of bank collapses and the FED did some backdoor stuff to help them out, and the stock price is crashing heavily. So I tweeted at Gary and I said, hey, Gary Ginster, is this the industry that is rife with fraud? As you would say, you were talking about the regulated banking industry, right, But of course crickets and Gary Ginster crickets from Elizabeth Warren.
They just want to push the narrative that crypto is this, you know, rife with fraud. Everything in crypto is a fraud, and it's the rules are clear, and you know this is blah blah blah, And well JP Morgan and these big banks get issued fines every year for breaking the law they are banking. They were banking guys like Jeff Jeffrey Epstein and much more right, and you just see all this nonsense happening. But you know, this is the point. They're trying to push the narrative on the masses who are
not fully educated on these things. Who are you know, passively looking at crypto and just cashing headlines. But this is why we need to amplify the facts and expose these corrupt bureaucrats and corrupt politicians like Elizabeth Warren and expose all their lives. Now we've got to report here that the SEC claims binance dot
Us unwilling to give info requests, court intervenes. Binance US isn't answering important questions, the SEC claims, but the Crypto Exchange has further requests exceeded the regulators bounce so I don't blame Binance. We're not one to work with them. After all they've been through. They're probably like whatever, we don't care. So BAM Trading Services doing business as Finance dot US has been unable or
unwilling to answer requests for information concerning the custody of customer assets. The SEC alleged in a March fifth Joint status report to a Washington DC District Court. It asks the court they're intervening to speed up the discovery process. So, you know, it's funny the SEC and these government folks, they break the laws. They don't care about the laws right, as we've been seeing in the courts. Yet they're like, why are you not following the law?
Right? It's like, you guys are such hypocrites and you don't even uphold the law or care about the law. And this is why the judges have threatened sanctions. They've called the SEC that they lacked a faithful allegiance to the law. In the Great Scale case, they will call arbitrary and capricious. It's unbelievable what we're dealing with. But maybe this is a symptom of big
government, right. You have these agencies just running amok and they don't care about the law, and they become they have gotten too much power, and there needs to be some sort of reset and recalibration. And I love Congressman Warren Davidson's proposal to have the restruction of the SEC to make it less political and to avoid things like this where you have a scumbag like Gary Ginster running the SEC. So we'll see what they do here. You know what the
judge and the courts decide to do. But it's funny that the SEC is complaining, right when they often delay things, when they often use shady tactics, when they're supposed to be the good guys abiding by the law right, but they're not. So it's funny. They're getting a taste of their own medicine right now. Now. Many of you know Avalanche. It's a great blockchain. I hold the avax token in my portfolio. Yesterday we talked about
Coachella. You know they're going to launch their ticket NFTs on the Avalanche blockchain. We we got news here that Avalanche releases Durango upgrade, unveils Teleporter to boost subnet interoperability. Now, John Wu of able Abs, which works on Avalanche. I interviewed him a couple of weeks ago. I'm sure many of you remember that. If you haven't seen that, be sure to check it out. Avalanche is doing some great things, so Avalanche developers launch Teleport it
to enhance the communication across its subnet ecosystem. Teleporter aims to unify Avalanche's network of application specific chains, addressing network fragmentation. It is built on avalanches warp messaging and supports EVM compatible subnets, particularly the C chain. So great update here and Avalanche is a blockchain to watch, folks, and not financial advice, but an example. Many of you may have seen the news. City
Bank and JP Morgan are testing tokenization and Avalanche. I just told you guys about the Coachella music event tickets on there, so you know, check it out, research it, do your own research obviously, but this is certainly one of the projects I think will be in a winner, and I've added it to my portfolio now quickly. From our other sponsor, and that is v Chain. This is one of the top enterprise grade Layer one blockchains out there, building a ton of use cases and web three. They've done great
things with supply chain management tracking and trace ability. They're working with big brands such as PwC, BMW, Walmart, China as well as the Boston Consulting Group to build a decentralized app ecosystem. Folks, I am so bullish on this project. I have been for years. I've been holding the VET token for years and I'm a believer in this project. Once again, I hold the token and this is why I have accepted them as a sponsor, because
I believe in it. And this blockchain is very energy efficient, very scalable, great speed and security. So many big brands are working with them. If you'd like to learn more about vchain, visit vchain dot org. Link will be in the description. Thank you for watching and listening. Be sure to subscribe to the free email newsletter link in the description. Follow me on TikTok, Instagram, and all the social platforms all the links in the description.
Guys, thank you and I'll talk to you all later. Talk pak post talk poks, the talk pak talk st