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Bitcoin continues to pump. It's over fifty two thousand dollars. It is up near seventeen percent from a seven day perspective, over five percent from a twenty four hour perspective. Ethereum and All it's also looking very strong. Etheroreum cross twenty eight hundred bucks today. It's currently at two seven hundred and eighty eight dollars, Solana at one hundred and seventeen dollars. We're seeing some green here, folks, But as I've been stating, I'm cautiously optimistic. It's
not that I'm not happy to see prices going up. I am happy. Anytime the price is going up, I'm happy. But I've been here from multiple bull market and bear market cycles, and based on the timing of where we are in the market, I believe this rally is not going to new highs as some would say. I think it's going to pull back. Now. I will happily be wrong, because I'm here to make money, folks, So I'm forming my thesis based on my experience, based on what the
charts are saying. So why is Bitcoin's price going up? I think it's a bit of a short squeeze. We have the buyer rumors, sell the news event for the bitcoin's body TFS, and like many folks were stating, you know, we could see a sell off, and then people starting opening up shorts. And then bitcoin had gotten rejected from a certain price point, but then it broke through it after the rejection, so shorts were opened up. And I think we're seeing a bit of a short squeeze here, a
lot of liquidations of shorts over the past twenty four hours. Now I've stated to you guys, I'm not shorting. I am a hoddler. I am buying the dips and holding, and I do some swing trading, but I don't do any leverage trading or shorting or things like that. So the people who are trying to short, they're getting wrecked right while, like you, I'm holding for new highs to take profits. But you know, what will Big One do? Could it go to sixty k? It's possible, right,
But I'm still cautiously optimistic waiting to see what happens. I am at of the mindset right now. Let this rally play out and we'll go from there. But nevertheless, guys, I'm bullish long term. I'm bullish from a macro perspective. Not something that could drive sell pressure is. We got news here that Genesis gets port approval to offload one point six billion dollars of
gray Scale shares. We know Greyscale has been selling, however, that selling has ramped down significantly, but the lawyer for Genesis put the value of the Grayscale shares around one point six billion dollars and this was approved granted today by the judge, so that selling could start soon or maybe later this year. I'm just letting you know the facts and the news that are being reported, so we'll see what happens. And look, if you're a long term holder,
no problem. These things don't matter, right. But what I am looking for and why I am paying attention to this, I just don't want people to buy into these pumps and then get wrecked. That's number one. Second, when Bitcoin moves up right, the liquidity will flow from Bitcoin down to the all coins and we're going to see a mini all season. I'm waiting for XRP to pop off and other tokens ethereum as well. So that's what I'm looking at. I'm looking to take some profits on some of these
alts. I'm not selling my entire bag. I'm just selling some and I will buy the dips as we continue to run up and sell at the blow off top. That is my strategy. You know, obviously do your own research and formulate your own strategy and what works best for you financially. Now let's jump into the news. Scumbag regulator Gary Genser today went on CNBC.
This was very surprising. Hasn't done any media appearances since the Grayscale defeat, since him and the SEC have lost, and even when the judge in the debt box situation threatened to sanction the lawyers, he's been quiet. Right, There's been tweets, but he's been quiet. And of course there was the
whole mess and debacle that took place with the big QUINNYTF launch. So he's either coming on here to save some face after all these things had happened, or he's taking his order from Elizabeth Warren to go on here and speak negatively. And of course he did speak negatively about Crypto. He's here's some quotes, and I'm sure many of you saw the clips. This is a feel
that's been rife with fraud and manipulation. Look at all the bankruptcies. He says, it's not just one entity, it's entity after entity lighting up in bankruptcy court. But of course the hosts, Andrew Sorkin and Becky Quick and even Joe Kernin did not do their journalistic job here. Joe did push back on Gary a lot, But why didn't they bring up that Gary Ginster was meeting with Sam Bechmerfried and FTX and he did not stop FTX. He did
not do his job and investigate what was happening. Remember that Patrick McHenry threatened to sanction Gary Ginser because he would not hand over the FTX documents. You want to know why he hasn't handed those things over Because of all the meetings and all the backroom deals that were about to take place with FTX, who were going to get the special broker dealer license which Permethium got. But of course these hosts are not going to do their job and bring these things up.
They're not going to bring up that these collapses and bankruptcies happened under Gary's watch. Gary did not investigate Celsius. Right now, he's attacking the crypto industry, he's attacking good actors, and of course he's losing in court, But why was he not investigating the bad actors during the those period in time when they were operating. He did not do his jobs. It's amazing that these journalists would just let this man go on here and say these things.
But once again, Joe Kernin did do a good job in pushing back on some of the lies that Gary Ginster was trying to put out there. But it was surprising that he showed up here on CNBC and folks speaking in the SEC, Debt Box challenges the SEC's attempt to dismiss the crypto case. So, as you know, and I just mentioned, the judge threatened to sanction the SEC lawyers for lying to the court, and Debt Box is rightfully saying, hey, we're not going to let you get away with this, right
And I hope this judge does sanction the SEC. Folks, this would be another black mark on Gary Ginser. So debt Box is asking a federal judge to deny the SEC's recent motion to dismiss its case against the cryptocurrency project. The company argued that the federal agency is attempting to cover up gross misconduct. The SEC last month, in response to sanctions threats after alleged violations, asked
the court to dismiss the case without judice. If granted, that would leave the door open for the agency to refile charges against the defendants down the line. After suing Digital Licensing, Inc. Which operates under the name debt Box, in August twenty twenty three, SEC attorneys were granted temporary restrainting order against defendants after making what Judge Robert Shallby later described as misleading statements to the court
when threatened with sanctions by the court. The SEC conceded that its attorneys should have been more forthcoming with the court, but maintained that sanctions are not appropriate or necessary to address these issues or those issues. The agencies suggested. The
only reprimand from the court to grant its motion to dismiss without prejudice. The SEC wants to exit this action under its own terms, while retaining the option to refile other enforcement action against the Debt Box defendants and other defendants at some undetermined time in the future, and perhaps in a different form, as if nothing thing happened in this case. That Box attorneys wrote in their opposition motion file Wednesday. So the SEC clearly not abiding by the laws. Their hypprigates
the liars. That's why Judge Sarah Netburn the Ripple case said the SEC lacked faithful allegiance to the law. Folks, I'm not making these statements up. These are statements coming from the judges in the judicial branch the courts. Right. They called the SEC arbitrary and capricious for how they handled the great scale Biquin's body TF situation. It's unbelievable. But of course, like I said, folks, Gary was on TV today, no pushback, no challenges,
no bringing up of these facts, and it's pathetic. But this is why we got to use social media, use YouTube, use Twitter x and whatever else to create content and get the news out there, because these people are just gonna kiss Gary's butt. But the great thing, folks, is that the courts are handing Gary losses. They're keeping him in check, and that's the great thing, the checks and balances of the government. Now, Gary Ganser, as we know, is a puppet on strings, controlled by Elizabeth
Warren, who's of course controlled by the trad five banking incumbents. And what's fascinating is Attorney John Deeton, who of course has been fighting for XRP users for years. Without him, I don't think Ripple would have gotten the partial victory. And something interesting is brewing here. Looks like he's gonna run against
Elizabeth Warren. Wow Eleanor Turrett highlighted the following from an article. John Deeton, a Swansea attorney who has been a prominent advocate for cryptocurrency, is seriously considering running as a Republican in this year's unit US Senate race against Democrat Elizabeth Warren, according to two GOP insiders with direct knowledge of his plans, that's great. I love it, and you know, we got to support John
as he does this. Folks will have to come together. He's pro crypto and he knows that Elizabeth Warren is corrupted a so we got to get her out of office now. Congressman Tom Emmer today did something really great. There was a hearing and he called out the Wall Street Journal fake numbers. If you all recall about you know, Hamas using digital assets for fundraising, and you know bad actors using digital assets, we need the numbers very small.
We know that primarily they use cash because it's not very traceable. Look, a lot of crimes throughout history has been your cash has been used. That doesn't mean cash inherently is bad. It's just there's bad actors in society, right, that's just life. But we know Elizabeth Warren, Gary Genser, and so we're want to paint crypto in a bad light, and they're trying to make it look as though Hamas is only using crypto and all these people
are only using crypto when it's absolutely false. So Tom ember tweeted at a video and he also stated the following Today I asked Treasuries Head of Fins and and O Fact about the Wall Street Journals reporting on Hamas digital asset unraising campaign. Under Secretary Nelson confirmed on the record that the Wall Street Journal's numbers are inaccurate and that crypto was not a popular tool for Hamas terrorist What now,
Elizabeth Warren. Do you think Elizabeth Warren is going to retract anything. Do you think the Wall Street Journal is going to retract anything? Nope, because they are liars, They have an agenda, they have a campaign. But this is this is why we have pro crypto folks who are pushing for the facts. This is why we have to retweet and share this data to disarm the clowns that are Elizabeth Warren and Gary Genser. He says senators are writing
legislation based on the Wall Street Journal's inaccurate reporting. Since Treasury has accurate data, it has an obligation to correct the record on the size of Hamas's digital asset fundraising efforts. So this will completely disarm Elizabeth Warren on this issue. But this is why we got to fight. See if we just let these things go and she keeps going, it's going to cause problems. Right, and we have different crypto bills in the House. We have members of the
Senate and Congress who are not fully educated on crypto. They will listen to Elizabeth Warren unfortunately, So we have to drum up as much noise and share the fact. So shout out to Tom Member for doing this and it's on record and the Treasury hopefully they released the information, but we got someone from the Targy saying, yeah, that's not true. So this is really great,
all right, folks. Big news coming out from Citybank. I've talked for years that bank, stock exchanges, and the biggest investment firms in the world will all be involved in crypto. They will offer crypto trading custody and will build with the technology. City Bank tests tokenization of private equity funds on Avalanche, the Avalanche blockchain with the native token of avas now. Earlier today I published my interview with John Wu of Ava Labs, which is the foundation
that works on the Avalanche blockchain. Folks. We talk about JP Morgan using Avalanche for tokenization, and of course the news broke today of Citybank doing the same. Is a great blockchain. You're looking to scale to one hundred thousand transactions per second. Their partner with Amazon Web Services. They're doing big things, folks, so I highly recommend you check them out. I am a
AVAX token holder in full transparency, not financial advice. Do your own research, but they're getting clear real world adoption people tokenizing building on these blockchains. And I've often talked about, look at the blockchains that are getting real world adoption, have real use cases solving real world problems. This is a big endorsement of Avalanche and let me give you some details here what Citybank is doing
so. Citybank used Layer one blockchain Avalanches Spruce subnet to explore the tokenization of private equity funds to re architect capital markets. City worked with traditional finance giants Wisdom Tree and Wellington Management to carry out its proof of concept trial that was issued on Avalanches Spruce. According to a press release, Spruce is an evergreen subnet designed for large financial institutions looking to use public blockchain infrastructure. So,
folks, same thing that GP Morgan is doing. So once again, if you want to learn more about this, check out my interview with John Wu from earlier today. City joining the subnet is the latest bet from a Wall Street giant looking to dive further into the use cases of blockchain adoption. Trade. Five firms such as t row Price, Wisdom Tree, Wellington Management, and Cumberland joined the subnet in April last year to make trade execution and settlements
more efficient. Here's a quote. The growing use of Avalanche by leading financial services firms like City Wellington, Wisdom Tree and DTCC Digital Assets continues to cement Avalanche as an institutional blockchain leader, said Morgan Krapetski from Saying that right, Senior director of Business Development, Institutions and Capital Markets that Ava lapse in a conversation with coindus folks, this is huge. The biggest banks and firms in
the world are building with blockchains and you get to participate. Don't miss how insanely crazy that is. And not only that you front ran them. You can be a holder of the native token of Avalanche, which is AVAX. I'm not telling you to invest in I'm just giving an example, and you can benefit in the network growing with banks building on it and whatever else is
happening on that blockchain, right metcaps Law. The more participants on the network, the stronger it becomes, the more valuable it becomes, and of course that value trickles down to the native token, which is needed for the blockchain to function. And there's never been anything like this in the history of the world. It's amazing. I hope you guys catch what is taking place right before your eyes. The token that you're holding for a said blockchain. Major
institutions are building on it. It's amazing what's taking place. All right, let's move ahead. Matt Hogan of bit Wise sure today that their ETF has crossed one billion dollars and you also highlighted bitcoin cost a trillion dollars again today. Really great news for Matt. I've had him on the podcast many times. I'm a big fan of Bitwise and all the great things they're doing.
They were the first to provide their wallet addresses where they show their bitcoin holdings and the ETF, which I think should be the standard for every ETF issuer, and I hope the other issues follow through. And they made an announcement today they said today the bit Wise Bitcoin ETFs bitcoin addresses at coin based custody. They qualified custodian of bitb's that's the ticker. Holdings have been upgraded from p to PKH to native segue P two w PKH. Let's try to say
that ten times fast. But guys, I love it. This is great. I love the transparency and once again I think we should all email or call up all these other issues issuers right like Fidelium, Blackrock show the wallet addresses. So we can verify it. This is why blockchains and crypto exists for this transparency. And if you hold the funds, you said you hold them, what's the problem, right, Just show what's in the wallet address, then no problem with that. Now. Update here from Brett Harrison,
who I've had on the podcast. He was actually at FTX, but he left long before you know, all the madness took place. I think he sniffed out that things were not going right at FTX, so he left early. He's a great guy, and he's the founder and CEO of Architect, which does some great financial technology solutions for crypto trading firms and so forth. He says they've completed a twelve million dollar investment round led by block Tower Capital,
Tioga Capital. It looks like Anthony's Scaramuci's Salt Fun is in here and Parafy Capital. So they're raising money. And I've often stated now's the time if you're an innovator or entrepreneur to go capital and build out your project. Folks, you can get funding, I think pretty easy and build out your project. So I'm going to try to get Brett on to talk about this and what they're building. An Architect and how companies in the crypto industry are
going to use it. All right, folks, that's the news. Please subscribe to my free newsletter. Link will be in a description. Also follow me on TikTok, Facebook, Instagram, Twitter x LinkedIn. Folks, it supports the podcast. It doesn't take a dollar out of your pocket. It's all free stuff. Please support, please follow, please like, please subscribe. It really really helps. Thank you for watching and listening, and I'll talk to you all later.