HUGE CRYPTO NEWS! S&P DOW JONES TOKENIZATION & US DIGITAL IDENTITY DEFI

Folks Bitcoin right now under one hundred and sixteen thousand, so we're kind of in no man's land, just consolidating. So at this point we all have to be patient and let the market do its thing. We know we are still in a macro bull market based on the data, not our feelings and dreams and emotions, but what global liquidity is doing. All the Fibonacci levels, the Elliott wave levels, and much more. Everything is still intact. So we really really have to be patient here. I do believe that

we're going to bottom sometime this month. We're obviously just past the middle of the month, and then we're going to rally, and that rally could continue into September then have a strong correction. But we'll have to wait and see how things play out. One thing that Caleb Friendzen and great analysts who've had on the podcast said about what bigcoin's doing right now. He said, Bitcoin is oddly enough in no man's land. If it breaks above the

green level all time highs, that's bullish. He shared a chart here with those respective levels, and he says, if it breaks below the red level the lower lows, that's bearish because it's an uptrend on bullish and expect that bitcoin will make new all time highs soon. But I'm staying objective. So of course you're going to see people who don't understand markets. You're going to say, oh, so, Tony, you're just telling us that it could go up or it could go down. Well, yeah, we don't have a

crystal ball. We're using the data. Rather than use our emotions and get emotional about this stuff, just simply say, hey, look, Bitcoin is literally between the highs and the lows right now. We got to give it more time to give us confirmation as to which direction it wants to go in. That's a very hard thing for many people who are used to just playing the lottery or going to the casino getting instant outcomes. But with investing you have to be patient and then you have to wait. Sometimes for

data to show you the direction. Right. This is why I often say, when we have a breakout, let's wait for confirmation, because the market can fake us out, just like Bitcoin fake this out. Last week, we go to move to one hundred and twenty four thousand dollars, a new all time high, then it flash crashed on us. Right. So these are the things you have to expect in markets. And you know I've been in doing this since twenty sixteen. So that's why I often tell you, guys, hey, I

don't know what's happening here. Here are the scenarios and the probability of which scenario playing out. So I do believe though, because we are in an uptrend, because we are in a bull market and we're not far from the top, I think we're gonna pick up momentum. I don't think this is going to be like a thirty percent correction. I could be wrong, but I honestly don't think so. The probability of us having a slight pullback then continuing is stronger, So be patient, guys. And even Etheroreum.

If you look at the Etheroreum chart, it is cooling down. It's currently at four three hundred and seventy one dollars. So ETH was getting a lot of momentum, a lot of the liquidity was going to ETH, and that's very good for the entire all cooin market. But even ETH is cooling down. It was in the overboughd zone. So at this point is just like chill out and let's find the support level that it's going to bounce on and keep moving up. But one thing's for sure, there's

a lot of buying of etherom right now. So ether accumulation heats up. Eight hundred and eighty two million dollars in eth snapped up by Bitmine and an unknown whale. So Bitmine is tom Lee and that publicly traded company that is buying a ton of Eth. They are looking to raise twenty billion dollars to buy e theorem, so essentially becoming the Micaelsalor strategy of ethereum. So this is incredible. A lot of buying is happening on the ETR front.

A lot of treasury companies are buying, so as stated, this is very bullish. We still got more upside, so that's why these firms are buying and trying to get as much as possible because there's upside and then they make a lot of money off the arbitrage with their stocks, and we'll see how this all works out in the

bear market. Now, it does have an advantage because it's proof of steak and you can do DeFi with it, so you can continue to earn even in a bear market when the price is down versus Bitcoin not so much. So we'll see how this all pans out as the bear market rolls around. So guys, this is a time to maybe step away from the markets a bit because

nothing's happening. But once we find the bottom and we start moving, then you really zoom in and pay attention on the daily right, So don't fret, don't worry, we're still on track. Now, here's some interesting news. The Winklevoss

Twins Gemini Crypto Exchange has filed for a NASDAC listing after a strong bullish debut. So Bullish did an IPO last week, and we're seeing a lot of crypto companies go public. These things happen in a bull market, right folks. No one does an IPO in a bear market, So we're seeing a lot of crypto companies joining the herd here trying to go public. So Gemini, the Winklevoss founded crypto exchange in Custodian, has filed to list on Nasdaq

under the ticker Gemi. Gemi revealing steepening losses ahead of its IPO. So they highlighted here some losses, and we know Gemini is a small exchange. They honestly haven't innovated or expanded the way that coinbase and other exchanges have, So it looks like they're operating at some losses here. But you know, these numbers could easily flip as the bull market heats up. But it's getting very competitive out there, very very competitive, which is good for us as users

and consumers. Because you have more players in the market, everybody has to raise their standard, offer cheaper fees, better services, things along those lines. So very interesting that they're looking to do an IPO. Look at this, The SMP five

hundred and the Dow Jones are in talks to launch tokenized indexes. Of course they are folks. When I was telling you back in twenty eighteen, twenty nineteen, that's stock exchanges, banks, financial institutions would offer crypto. Here you go, We're seeing every day, week, month, new big institutions are jumping all in. So the SMP Dow Jones Indices is exploring partnerships with major exchanges, custodians, and DeFi protocols to launch tokenized versions

of its benchmark. So as crypto matures as an asset class and you have all these different financial products, you're going to need the analytics, the reporting, the white glove service, all the things that exist for assets in the trad fire world, right, they're going to be built for crypto. So that is what's happening here. Crypto will eventually become like the stock market, and in a sense that it becomes like a household thing and is traded by everybody.

It's well known, it's going to be discussed in mainstream media. That's what's coming. And of course they're going to tokenize stocks and all these things on the blockchain. So Stephanie Roton, the firms director of US Equities, told coin Telegraph that the index provider is taking a strategic approach to ensure tokenized SMP products are launched only on platforms that meet high standards for transparency, security and regulatory compliance. Here is

a quote. By establishing these types of relationships, we hope we can work together to participate in a robust infrastructure that supports the trading and accessibility of tokenized versions of our indexes, ultimately enhancing the investor experience, she said. Very bullish news guys, now look at this speaking of tokenization,

Centrifuge tops one billion dollars of TVL as institutions drive tokenize RWA boom, so Centrifuge joins BlackRock's Biddle and Onto Finance in the one billion dollar RWA club as demand grows for tokenized products. So you're seeing the growth of the tokenized asset markets, coinbased, Crack and all these exchanges, Robinhood, they all want to launch tokenized stocks, and we are seeing different companies pop up, Like I didn't really know

much about Centrifuge. I knew about Blackrock of course in Onto, So this is very very interesting. So Centrifuge's CEO Bogy Illuminati, attributed the milestone to institutions moving from pilots to real deployments alongside strong on chain allocator demand. Markets need more than t bills, Illuminati told coin Telegraph, pointing to JAAA, an on chain version of the Janice Henderson's AAA rated

collateralized loan obligation investment fund. That's a mouthful, Oh my goodness, as a natural step for institutions seeking higher yields than risk free rates. So, folks, see the direction to puck is heading in here. We are seeing a lot of growth and maturation in this industry. And guess what real estate will be tokenized. Real estate is the world's largest asset class. It will all go unchain. The process of buying and selling a home will be dis disrupted by

block train. Intermediaries will be removed, fees will be cheaper, and it will be a much more transparent, faster, easier process. And Propy is leading to charge with doing that. Propy has been around since twenty seventeen. Folks, they have facilitated over four billion dollars in transactions. There will licensed Web three pioneer, so they have put deeds on the blockchain. They have created NFTs for properties, and you can buy and sell your house on Propy, and if you want

to accept crypto, you can do that. So if you want to sell your house for bitcoin or XRP, whatever, you can do that. And they use coinbase for the crypto escro service. So Propy I am a token holder. I have been since twenty eighteen. Yes that long, and I'm very bullish on this project because I viewed this as a long term play. You know, it's going to take time to disrupt this massive real estate industry. But

Propy is ahead of the curve. They are ahead of other competitors and they've been doing this for a long time, folks. So check them out. Go to propy dot com. Link will be in the description. Now look at this news.

Japan's FSA will approve the country's first yen stable coin, the JPYC, is set to launch as early as this fall. So the token economy is growing. Digital currencies, tokenized assets, cryptocurrencies, digital assets. That is where we're headed, folks. Everything running on the blockchain. I've said it many times. The markets, the economies, and the governments will all run on blockchain rails.

You will be using blockchain technology in one way or the other, whether you love it or hate it, whether you're invested or not. It will be the backbone, just like you use the Internet now. It will be the backbone of many of these infrastructures. So let me give it to details. Japan's Financial Services Agency is preparing to prove the issuance of a yen denominated stable coins as early as this fall, marking the first time the country

will allow a domestic fiat PEG digital currency. Tokyo based fintech firm JPYC will register as a money transfer business within the month and will lead the rollout. Japanese news outlet the nihon Kaizi Simbun reported on Sunday, I probably butchered dad, but just so you guys know, uh JP YC is designed to maintain a fixed value of one jp y equals one yen, backed by highly liquid assets

such as bank deposits and Japanese government bonds. After purchase applications from individuals or corporations, the tokens are issued via bank transfer to digital wallets. Now, there's no details on which blockchains are going to be used, so we'll have to wait and see, folks. It's going to be very revealing to see which blockchains these governments use in building their digital currency and stable coins and much more. Obviously some are going to use it for cbdc's as well.

But you know, this is what we're gonna have to be vigilant because I do believe that some stable coins are cbdc's with a different mask on, like a wolf in sheep's clothing, right, So we have to be vigilant to make sure that they're not doing anything effishy here. But nevertheless, nothing is stopping this train. Do you guys see what's happening here? Governments, the trad five, folks, everybody's getting involved here now, speaking of being vigilant, look at this.

US Treasury weighs digital ID verification in DeFi to tackle illicit finance. So this is a bit controversial, folks, that the US Department of Treasury is seeking public feedback on how digital identity tools and other emerging technologies could be used to fight illicit financing crypto markets, with one option

being embedding identity checks into decentralized financed smart contracts. The consultation published this week stems from the newly enacted Guiding and Establishing National Innovation for a US stable Coins Act, known as the Genius Act, signed into law in July. The Act, which sets out a regulatory framework for payment stable coin issuers, directs to Treasury to explore new compliance technologies, including a programming interfaces, artificial intelligence, digital identity verification, and

blockchain monitor. One of the ideas in the request for common is the potential for DeFi protocols to integrate digital identity credentials directly into their code. Under this model, a smart contract could automatically verify a user's credential before executing a transaction, effectively building KYC, Know your Customer and AML anti money laundering safeguards into blockchain infrastructure. So, folks, I don't necessarily have an issue with having a digital identity.

What I think would be a nice balance is I can control it and release it to who I want, and it is secured by zero knowledge proof technology. So if I want to participate in DeFi and the government saying okay, in order to participate, you need to give your identity, this is where it gets complicated because I don't necessarily want the government involved in everything I'm doing,

Like why do they need to be in everything? But I understand bad actors are going to do stuff, So I would probably like to have some sort of ZK proof technology in place where that I can release my data but the government only gets a bit of it. You know. I have to flush this thought out a bit, and I'll probably write an article about it, But we've seen sometimes that the government, you know, they can trample on your right. So this is this is where I'm conflicted,

right because I understand you need to protect people. I understand they are bad actors. You need to stop actors. But do you need to be involved in every single defind transaction. Maybe there's a threshold anything above ten thousand or twenty thousand, I don't know. But if I'm doing something for a few hundred bucks, why does the government need to be involved in that? Right? So this is

where we're going to have to figure out. And I guess this is good that they're asking for commentary and feedback, and I'll be trying to speak to some people in the industry and see who will be submitting their ideas and get them on the podcast to talk about this because this is something we do. We do have to discuss and find a balance because I understand, once again, government has to stop bad actors, and we don't want

bad actors using crypto to do nefarious things. But also we don't want government to trample our rights and our right to privacy. So this is where he gets tricky, folks. So we'll have to see where it goes. But this is where again we've got to be vigilant and watch these governments closely. All right, moving ahead, Final news item,

Norway's sovereign Wealth fund boosted bitcoin exposure by eighty three percent in Q two. Standard Charter says, so you got sovereign wealth funds around the globe investing in crypto. It's incredible. It's amazing how things have changed and the level of folks who are investing here. So Norgious Bank Investment Management increase its bitcoin equivalent exposure from sixty two hundred bitcoin

to eleven four hundred bitcoin in Q two. According to Standard Charter's Jeoffrey Kendrick, the bulk of the position remains in micro Strategy shares, with a small addition in Metaplanet. Kendrick noted, so they're essentially using the proxy company. The two biggest companies are micro Strategy and Metaplanet that have the biggest bitcoin treasury strategy. And clearly these folks are some of them are going to ETF route buying the actual bigcoin ETFs. Some are going through the stocks of

the treasury companies. So it's just fascinating to see how these things are set up and why these Treasury. Companies are going to continue to do well because there's not full clarity in every country. The United States hasn't passed market structure yet right as an example, the EU has done micup, but there are a lot of jurisdictions, like probably Norway, there isn't any crypto legislation in place, So these companies are like, you know, we're not going to

go directly. We're going to do indirectly. Hold the stock of a company that has BIGCOE on its balance sheets. So I think that's what's happening here, folks. But very interesting that these folks are investing via a proxy. Right, all right, 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.

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I appreciate you all, and I'll talk to you all later