Grayscale relaunches their XRP trust. This increases the odds of an XRP spot ETF being approved in the United States. This is very big and Gary Genser is getting investigated by top Republicans as a hearing is coming up and he's going to be in big trouble. Let's break it down. Hey, everybody, welcome into the Thinking Crypto Podcasts. 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
a 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 star rating and review. Folks, the breaking news Grayscale has officially relaunched their XRP trust. If you recall, they had this in place, but when the SEC sued Ripple they had to dissolve it. And we know many exchanges delisted XRP. But since Ripple won the lion's share of the lawsuit and XRP was declared intrinsically
not a security, many exchanges started relisting. And this is a very big move here from Grayscale, showing that there is demand for this asset, and if there wasn't, they wouldn't be launching it, right, folks. So you have institutional on ramps being built here, and as always, game theory will play out. You're going to see their competitors launch
these type of funds around XRP as well. If you caught my interview with Matt Hogan a bit wise earlier this morning, he hinted towards XRP, Cardano and so forth that they're working on building ETFs and so forth around these things. So institutional investors are building products around XRP. Now, I know some people are gonna hate XRP, They're gonna hate Ripple, but I'm not here to invest with my emotions. I'm here to invest with facts and the reality of
the situation. I'm diversified. I hold Bitcoin, Etherorem Salana, XRP, Cardano and so forth. So I'm just looking to make money. I don't have a religious agenda here. I don't have a sort of narrative agenda. I believe in crypto and I'm here to make money. So very big move and that is why you're seeing these big companies do this. And you know, Ripple has a lot going on for them right now, they're going to be launching their stable coin, they've enabled Ethereum smart contracts, or they will be on
the platform on the XRP ledger. I should say, so all of these things are very good for the adoption and price of the XRP assets. Now, they said this is only available to accredited investors. They said gray scales. XRP trust allows investors to gain exposure to XRP, the token powering the XRP ledger, a distributed peer to peer
network created to help cross border financial institutions. Now, folks, with this domino in place, it means the chances of a potential XRP ETF being approved in the United States
has become more probable. The chances have increased, so get ready right, And obviously we need some clarity in the market because Solana is also in the same bucket here where we need clarity from cong risks and we need legislation because Gary Genser, we know he's up to no good and we're gonna talk a bit about him later, but we need more clarity here. But this once again increases the chances, So very big news around XRP. Now, you may say Tony, But look at the price, dude,
the price is down. What are you so excited about. I look at market cycles. I don't care what's happening right now because I'm looking at the macro I've been sharing with you guys. Everybody's waiting for the FED raid cuts. That's going to be very bullish in the markets. Yes, there's gonna be volatility. September as a whold is a wash. It's a bloody month. So I'm not looking for anything this month. Now, come Q four, we're going to start to see Bitcoin climb out of this consolidation phase and
then alts will follow. So you have to understand the market cycles. This is why on this podcast, I give you the full picture. I give you a holistic view, not just the technical analysis. I give you the adoption news, the fundamentals, the macro. All of these things help to paint the picture where we're at and where we're at it. So here three sixty Trader Dan from the three sixty Trader. I just had him on the podcast. He gave his XRP price prediction, so be sure to check out that interview.
He said, XRP on the weekly looking macro bullish, here inside the ascending triangle has the local double bottom here into the apex price is pinching. This should challenge the pattern highs soon into the seventy cents area. Crypto Michael, who's an analyst that has been talking about xrps chart for a very long time. He says XRP slash Bitcoin
looks ready for a huge squeeze. So this is a very important chart because many folks, they will look at an all coin versus Bitcoin denominated in bitcoin, and you'll see many all coins have bleeded against Bitcoin over time. But eventually all coins line up very nicely and they set up for a move. Solana was a first mover in this type of setup. It was showing a lot of strength on its chart versus Bitcoin, and I think etherorem will event we get there. So it's a matter
of time. Be patient, guys. I've told you many times. The liquidity enters through bitcoin. Bitcoin does is it's run up and then the liquidity flows to the all coins. Now within the all coin category, there are different tiers. We saw mean coins did really well in twenty twenty three into early twenty twenty four, AI coins as well well, the blue chip coins like XRP, Cardano and so forth. They're going to have their turn. So I hope you understand what I'm saying here. This is not my feelings,
this is not my emotions. This is what we've seen the market do, what the charts are telling us, what the technicals are telling us. And I hope you're looking at data. I hope you're not listening to people telling you about conspiracy theories and their feelings and emotions, because that's all garbage. Let's look at data, guys, right, and charts are showing us a really good story here. And
the adoption news Radescale relaunching their XRP trust is very bullish. Now, quick word from our sponsor, and that is v Chain, which is one of the top enterprise layer one blockchains out there. I've been a VET token holder for years. I'm a believer in this project. I'm bullish on it. And many companies are using the v chain blockchain to build Web three technologies and decentralized application ecosystems. And they are working with many big players folks such as PwC,
which is a top four accounting firm. They're working with BMW, Walmart, China, Boston Consulting Group. In fact, there's some very big news here. They're going to be doing a hackathon with the Boston Consulting Group, so that's a big player. Folks, go research who the Boston Consulting Group is. So vchain is doing some great things. And like I said, I'm a VET token holder, so I'm putting my money where my mouth is.
I believe in this project. Some of the key features of the v chain blockchain includes it's secure, affordable, scalable, fast, and sustainable. If you'd like to learn more about vchain, go to vchain dot org arifolks, the big news continues. SEC Chair Gary Ginster is under investigation by Republican lawmakers Jim Jordan, Patrick McHenry and James Comer for engaging in
suspected political favoritism in his hiring practices. You know, a lot of people don't want to hear the political divide with these agencies, especially a lot of former SEC folks. They tried to sweep it under the rug. But the SEC is divided politically. We see hester person Markey way to believe a certain way about crypto in the industry, while the Democrats, Gary Ginster and the other two Democrat
commissioners feel us a different way. You see the clear political divide, and we know Gary Ginster is a puppet on strings control by Elizabeth Warren. I mean, we've talked about this at nauseam. I don't have to repeat myself with a million time. But I hope you see what's happening here, and I'm glad they're launching an investigation. My hope is that Patrick McHenry also issues that subpoena for the FTX documents which Gary Ginser has not handed over yet.
And we know why he was trying to build that special broker dealer license monopoly for FTX, where you know, the SEC would control a lot of things, and of course that fell apart. He didn't do his job in doing his due diligence in investigating what FTX was doing, and of course there was the whole collapse under his watch. So there's also a hearing coming up, guys, and here eleanor Terrati, Fox Business reported September is a big month
for hearings on Capitol Hill. The Financial Committee just announced one for next Wednesday at ten am Eastern entitled Dazed and Confused, breaking down the SEC's politicize approach to digital assets. Witnesses yet to be announced. They're having a hearing on this.
Gary's gonna get embarrassed. He's gonna get grilled. Gary Ginster is also said to be appearing on a hill at the end of the month, although I'm told an official date and whether or not they will invite other SEC commissioners to testify alongside him has not been finalized yet. I would love for other commissioners, especially like Hester Purtser Marqui Wada, to come in and speak, to have some balance.
That would be very interesting. It looks like they're ramping up their efforts here against the SEC, and look, Gary Gainster has lost the narrative right. He's a complete buffoon. I've been calling him a scumbag because he's not engaging with the crypto industry in good faith. He is doing scumbag activities, and as we've talked a lot about, it's all because he's trying to protect the Tradify incumbents who have weaponized him. They made the call, Gary, stop these guys.
We need to catch up. We want to launch our own blockchains. We want to control this market. So that's the game. Here now. Eleanor Trott is also reporting that on Wednesday afternoon, the Digital Chamber and Congressman Wilie Nichols office hosted a private policy focused roundtable meeting that's centered specifically on bitcoin. The meeting was for House Democrats interested in learning more about the largest digital currency and how
to legislate it, she said. In attendance eight Democratic House members names were not revealed, and representatives from Riot Platforms, Baker McKenzie, and a bunch of the other bitcoin mining companies. She said. Topics discussed We're using bitcoin for financial inclusion, mining and energy sustainability, and as well as competition with China, so this is great. We need to do advocacy and education.
We need to get more Democrats on board. We know a good amount of them flipped on Gary Against and Elizabeth Warren in repealing SAF one two one and in passing the FIT twenty one bill out of the House. But we need to get this bill through the Senate, and we need more of them to influence Kamala Harris because we have not heard where she stands. We've heard little cricket noises, braid or a little breadcrumbs that, oh yeah, she'll support crypto, but show me, don't tell me, right.
We need to hear it straight from her mouth. We need to see some sort of policy. But this is great. Shout out to Congressman Wilely Nickel, Democrats. Shout out to Rocana. They're doing their best here, but we need more action, guys. But good news now, so not so good news. E Toro, which is one of the companies that was being sued by the SEC. Because every exchange is getting sued by the SEC right now, Coinbase, Robin Hoood, Crack and you
name it, right, Uni Swap, even well, E Toro. They are going to cease most of their crypto offers in the United States and they have settled with the SEC. So it really sucks that they are capitulating here. They're going to pay one point five million dollars as part of a settlement. This really sucks. It's not good news because Gary's going to take this and say, see see I told you guys right, He's going to try to use this in his case against Coinbase and these other folks.
But it is what it is. And I really wish Etore would have fought back. But you know, right now, because of this whole shutdown. Users or US users can only trade bitcoin, bitcoin cash, and Ether. Other positions will be liquidated in mid March of next year, so no all coins, no other all coins outside of Etheroreum and bitcoin cash because of this regulatory uncertainty. This is the scumbag activity we're dealing with here. A bunch of legal
experts and lawyers weighed in on this. Paul Griwall of Coinbase that they just conceded eth is not offered as an investment contract security in secondary markets. But the SEC will not explain why ethan bitcoin but no others because they can't. There is no plan, no framework, no logic, no due process, and certainly no respect for the law. He's absolutely right here. Bill Hughes, who I've had on
the podcast, He's a lawyer at Consensus said. The SEC's order says e Toro US had around two hundred and forty thousand customer accounts. To put that in perspective, Coinbase has over one hundred million. One point five million dollars is nothing. It's a departure fee for leaving the United States behind and focusing on international business. So it really sucks that now e Toro can't offer full services here in the US. It eliminates, you know, some competition, and
competition is healthy for consumers in the market. Alexander Grieves said, e Toro just settled with the SEC over offering crypto on their platform. First off, what reset? Second and more importantly, note that the SEC permits eth to continue trading on the platform, effectively enshrining it as a non security commodity.
So really sucks. Now some good news. Let's move on to some good news here today in tokenization, Morgan from Ava Labs highlighted the following Parafied Capital tokenized part of their VC fund on the Avalanche blockchain. Its native token is AVAX, leveraging securitize. So the tokenization of assets and funds and so forth continues, guys. And we're seeing tokenization
on Avalanche, on Etheroreum, on Solana and so forth. This is the future the token economy, which I've been telling you guys for years, and I am bullish an Avalanche. I do have some of the avas token in my portfolio. I just recently had Carlos Domingo of Securitize. They're working with black Rock obviously to help them tokenize their fund and if you haven't seen that interview, check it out. I'm gonna try to get John Wu of Ava Labs back on the pond to talk about the big news
here and the other things they've been working on. They've been getting a lot of adoptions. So avax is a token to watch guys. It could do really well in this bullmarket. Big news from coinbase. Coinbase rolls out wrap bitcoin alternative cb BTC on etherorem and base. So this is interesting. The cb BTC token is initially supported on the etherorem and based networks, providing a means to use
Bitcoin in their decentralized finance ecosystems. So rap tokens, as they said here, enables you to do a lot with DeFi. So many tokens will get wrapped and so forth. And you know bitcoin doesn't natively have any smart contract capability, so this is why wrapping it will help enable that. So big news and smart move here by Coinbase. This is going to open up a lot of utility for bitcoin. Now some more good news, Anchorage Digital to provide custody
for twenty one shares spot Bitcoin and ether ets. You may say, well, what's good about this, Well, a lot of the ETFs are currently being custodied by coin based custody, so one could argue that's a very centralized setup and
that's not good. We want diversification in custody. So the fact that a lot of the these etf issuers are diversifying and going to different custodians, that's very good, right, because we don't want the risk of a collapse by one entity and that ruins the entire market, right, that is not good. We don't need any more FTX type situations. And I'm not saying Coinbase is doing anything fraudulent or
scammy or whatever. I'm just saying it's just increases the risk that if something God forbid where it happen to coinbase, it would be pretty detrimental to the market, right, folks. So black Rock uses coin based custody and so forth. Now twenty one Shares is also going to be using bitgo. So bit goes a sponsor in my podcast and they're a trusted custodian as well, So great news. Good to see the diversification. This is what we want to see,
trusted institutions who have insurance, security and much more. The versification of how the assets are stored and really really good for the future adoption and growth of the asset class. That's the news, folks. Let me know what you think, especially about the XRP grayscale news. I think that's a big one. And don't forget to sign up for my free email newsletter on substack. It's one hundred percent free podcast.
By grabbing a copy of my book. It's available on Amazon and paperback in digital also on Barnes and Nobles dot com. Buy a copy for yourself, Buy a few copies for your friends and family. It makes a great gift. Help them to learn about crypto as we enter the next phase of the bullmarket. Guys, it includes investment tips and so forth. It talks about Crypto's past, president and future. And if you bought a copy already, please please please leave a rating and review. It will really help me
out in my rankings. Thank you so much. I appreciate you all, and I'll talk to you all later.