We're seeing some movement with Kamala Harris and Crypto as a group of Democrats have formed Crypto for Harris. In addition, Congressman rocan Is Crypto meeting with Democrats and industry leaders is happening this week. And Elizabeth Warren and Gary Ginster are up to their old tricks again, trying to stop polymarket and Gary Ginster doing a lot of shady stuff at the SEC. In addition, Bitcoin is finding some sort of bounce and the vix is reducing in volatility. We're
gonna break it down and much more. Let's get into it. 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, Let's start by taking a look at the price of bitcoin
onder daily. The RSI is seeing a bit of a bounce here. Bitcoin at fifty five twenty seven dollars at the time of recording. This is a good sign and right now Bitcoin is in that over soul zone for the RSI, so it's expected that we're gonna see some sort of bounce and the price to keep moving up. The question is are we gonna roll over and keep testing lows and possibly go lower. That is a possibility. I'm hoping it doesn't happen and we you know, find
that bottom and keep moving upwards. But I think we're not out of the woods yet, my friends. And some other good signs that we are seeing is the Nasdaq is doing the same thing. It's bouncing. It's daily RSI is bouncing, and the VIS, the volatility index for the S and P five hundred is pulling back. So huge spike yesterday, massive green candle as you can see here on the chart. But we are seeing a pullback, a
red candle on the daily here. So we want this to go down because that's an indication of how volatile things could get. So we wanted to calm down. We want markets to you know, take a deep breath here, let the dust settle, and then we start to move up. So we got to give this time. I say, you know, give it two to three weeks. Guys. Look, it's annoying. It's we're not going to see any type of fireworks unless there's some very bullish macro news like money printing,
liquidity injections and so forth, or raycuts. You know, we'll see now. On that note, I did want to share what macro investor Dan Tapierro had to say about the VIX. He says, likely that yesterday was a low in everything. Why third largest spike in the VICKS in the past thirty five years, unwarranted to extreme, given much better macro fundamental backdrop today than twenty eight and twenty twenty, could see the market retest. But Vic's peak is in. He says,
Bitcoin Nasdaq higher by the end of the year. So I'm in total agreement here. And he looks at it from a macro standpoint, so not the daily, hourly and weekly, but you've got to look at it quarterly, yearly, monthly as well. So I think he's spot on. This type of spike on the VIX is so extreme that it's pretty much done for the most part. So we just wanted to get back to a normal level or normalize, and we can keep this show going now tomorrow guys.
As a reminder, Morgan Stanley, their wealth advisors will be able to start offering bitcoin ETFs to their wealthy clients. And that's fifteen thousand wealth advisors. And if you recall, I reported on this news last week. So this is going to kick off tomorrow and this could help usher in a lot more capital into the bitcoin ETFs. They are specifically pitching the black Rock and Fidelity ETFs. So let's see what type of volume comes in here. I'm
not expecting anything crazy day one. It's going to have to ramp up. Of course, I would say give this a month so we can judge it by then, and the folks at Bloomberg and the analysts will have some data to share. But another major on ramp being set up here. As I stated when I broke this news, that game theory is going to play out here. The other wirehouses and banks and so forth, they're going to start offering this. So the bullmarket is still here, folks.
There hasn't been any major invalidation and people will be buying. Look, they'll be buying at a discount, right, Buying bigcoin at this price is pretty good because we are still expecting upside and the bull market to continue, all right, let's move ahead. We got some interesting crypto news around the regulatory space. So eleanor Tarota, Fox Business is reporting a
lot of big stuff here. First up, a collection of Democrats in the crypto space who don't want to see Donald Trump run away with this issue have created a group called Crypto for Harris. So they created a Twitter profile. It says a grassroots network of crypto advocates organizing fundraising and developing a nuanced crypto policy approach for the Harris for President campaign. So the group says it will hold a public virtual town hall next Wednesday to discuss ways
it plans to support the Harris campaign. Billionaire entrepreneur Mark Cuban will speak at the meeting alongside other industry participants. So first up, Trump supporters, relax, Okay, I'm just reporting the news. I'm not saying to vote for Kamala Harris. Neither am I saying to vote for Donald Trump. I'm just reporting the news, and you, as an adults, can make your own decisions, because crypto is not the only
issue when it comes to voting in the election. But my goal, as I've been stating quite often, is that I want crypto to be a non partisan issue. Crypto should not be a Republican thing or a Democrat thing. It should be a United States thing where it creates jobs and wealth opportunities and so forth. So that is my goal in reporting this news, and I'm hoping that Kamala Harrison her team comes out clearly as to what
they want to do with crypto. Now, today we did hear that Kamala Harris selected her running mates or vice president running mate, Tim Watz, and he has not made any type of statements about crypto, so we don't know where he stands. However, eleanor TRT is reporting that Wally Nicol letter to the DNC and Kamala Harris requested a VP pick who is pro crypto and knowledgeable about digital assets. Once again, we have not heard anything from him, whether pro or against er he understands it. So we will
have to wait and see you on this issue. Now. Rocanna is Crypto meeting this week. Remember he did a roundtable about two weeks ago where Mark Cuban attended and he held it with industry leaders and Democrat leaders and so forth. Well, he has another meeting scheduled this week. It will take place this Thursday at eleven forty five
am Eastern. So Democrats, especially like Wiley Nickel and Rocanna recognize like Elizabeth Warren and Gary Ginsterer screwed up and Democrats are losing the narrative big time, and they're trying to save some face here. Now, don't get me wrong. There was seventy one Democrats who voted with the Republicans in the House to pass the FIT twenty one bills. So not all Democrats are anti crypto. Some were simply following Elizabeth Warren. Some were just like, we don't know
about this issue, We're not paying attention. The problem is by doing that, you let Elizabeth Warren burn the house down right along with Gary Ginzer. Elizabeth Warren had the gasoline and Jagary. Gary Ginster had the matches. So it turned out to be an epic disaster, and of course the industry fought back, punching back against Gary Ginster. He's losing in court, he's losing in public opinion, and Elizabeth
Warren's anti crypto army is falling apart. Now, we also got news that Eric Trump, the son of Donald Trump, tweeted out today that I have fallen in love with crypto slash DeFi stay tuned for a big announcement, and he tagged Donald Trump and Donald Trump Junior much more. So let's see what he comes up with. It's so interesting how both sides are now trying to rally around crypto because it is a big issue. Don't get me wrong,
it's not the number one issue for some people. It is, but it could be number five, number six on the on the ballot of reasons. You know they're voting, so they know there's a lot of money here as well. The crypto industry is raised over two hundred million dollars to support per crypto candidates. So we'll see what Eric comes up with. Hopefully it's not a meme coin or something dumb. Hopefully it's something legit. You know what I mean, guys, because I've said before I was born at night, but
not last night. I know politics, and politicians do things and say things to get elected. Doesn't mean they'll actually do it. But we want to see people be at least pro crypto where it's not that they're saying, go buy this meme coin, but rather we're going to help provide legislation and guidelines and help create jobs and help
entrepreneurs that have clarity. That's the important part, right, because that has economic benefits and it allows people to invest safely and not have to worry about if the SEC is going to sue them and destroy their bags and everything, right guys, like the SEC did with the Ripple case, and much more now quickly from our sponsor, folks, and that is Uphold. Uphold is a great platform that you can use to buy Bitcoin and all the top all coins.
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They also have transparency reports and they're fully reserved, so you can look at their transparency reports and they don't call mingle or lend out your funds and all that nonsense. So if you'd like to learn more about Uphold, check out the link in the description. Now let's talk about our favorite scumbag regulator, Gary Genser eleanor Terrotor is reporting that last week the Senate Appropriations Committee marked up the
SEC's appropriation funding for fiscal year twenty twenty five. Gary Ginszer requested two point five nine four billion dollars, but this bill only allots him two point two to three billion. According to the SEC union, the agency was forced to cut staff benefits and salary increases this year because of Gainster's increase spending on other things in fiscal year twenty three and twenty four. A union memo reads, in effect, Chair Againser wagered with your compensation and benefits, knowing that
his staff would suffer the consequences if he lost the bet. Now, the Democrat led Senate is proposing to get the agency it's lowest budget since fiscal year twenty twenty three. Not only is Gary Genser a's scumbag regulator, he's also a scumbag boss. It seems like, so, you know, look, what are we gonna say? I'm not even surprised by this news because it's Gary Gencer. We've seen the man's track record. I mean it goes back to even before the SEC
and MF Global. Go go research his history and what happened there, and we know he's been just doing a bunch of nonsense at the SEC, losing in the courts and attacking the crypto industry in addition to other things. So guys, like I said, I'm not even surprised. What can we expect from a scumbag regulator now Gary's boss. Senator Elizabeth Warren urges the CFTC to ban political betting
contracts amid five hundred million dollar Polymarket bets. Oh, Elizabeth, you hate that people can bring additional data and facts about markets and what they think may happen in elections and so forth. Right, not the polls which sometimes can be manipulated by different media and so forth. But this is typical, Elizabeth Warren. So, Senator Elizabeth Warren, along with other Democrat lawmakers, is urging the CFDC to finalize a
ban on political betting contracts. They argue that such contracts would compromise the integrity of elections and democracy by allowing wealthy individuals and insiders to manipulate outcomes. This call for action comes as Polymarket, a popular betting platform, reports over five hundred million dollars in bets in the twenty twenty four US presidential election, reaching new all time highs. Lawmakers are concerned that the growing popularity of election betting could
undermine public trust in a democratic process. The CFTC has been considering this ban unbelievable that they're trying to do this, and it's all Democrats that signed this. I wonder why. Look, I've often said it once again, I'm not here to tell you who to vote for. I just report the news and I give my opinion. But you, as an adult, have to make your decision now. As you guys know, polymarket is a cryptocurrency base betting market and it's pretty
much like decentralized. Part of that is probably why Elizabeth Warren is going after it because he can't touch it. And you know, they hate that people are able to bet on this and it's pretty pathetic. But this is why we've got to keep fighting. And if the Democrats keep allowing this stuff to happen, all this Harris for Crypto and what Howers Moro, Conna and all of them
are doing, they're going to lose in the elections. And we know that there's a lot of capital the crypto industry is raised, and they're going to use it for pro crypto candidates, and we already saw the results of that on Super Tuesday and in the primaries. Here's what Tyler Winkelwols have to say about the issue, he says, Senator Warren once the bann prediction markets for political events, contracts that are hard to manipulate in favor of political
polls that are easy to manipulate. Got it, And it's here's I'm actually positive news. Dennis Porter of this Toji act fun highlighted that nearly three thousand letters sent to the US Senators asking them to co sponsor the Strategic Bitcoin Reserve Bill, Democrats received sixty percent of the letters.
So remember Cynthia Lummis put together that bill, and Donald Trump talked about it at the Bitcoin conference, so did RFK Junior, by the way, proposing that the United States, you know, buy bitcoin and use that as a reserve asset in addition to gold and other things. And a lot of folks started sending out letters and requests for the Democrats mostly here to support this. And you know, is this something that could happen this cycle? I don't think so. There is a possibility, but I think this
is something maybe next cycle. I think next cycle. As bitcoin and crypto becomes more prominent, especially as the crypto industry flexes his muscles, and this election and much more so. This is good to see though, and this is why we get to keep fighting. We got to keep calling, keep emailing, keep doing your thing. Guys. We're making progress, we're winning. But you know, Elizabeth Warren and Gary Ginster are not giving up, and we got to keep fighting
and get them kicked out. Vote for John Deaton in the state of Massachusetts. That's the one thing I will tell you to vote for, because we're dealing with someone in Massachusetts who's corrupt, Elizabeth Warren, of course, so we want to get at least John Deeton in there. Who you know, John is more of a moderate. He's not like some super hardcore Republican or anything like that. And
I agree with him on a lot of issues. You know, sensible things right where I think for the most part is missing in the United States now, where people use common sense, be sensible versus talking points some Democrats or Republicans. And I think that's where the majority of the folks who win the elections are those people who are in the middle right, who if the Democrats or Republicans can convince them to vote for them, then they end up winning. So I say vote for John Deaton and donate to
John Deaton as well. I have donated, so I keep this in mind. Guy. All right, folks, don't forget to sign up for my free email newsletter on substack. It's one hundred percent free. Link would be in a description. Don't forget to grab a copy of my book, Rethinking Crypto. It's available and paperback in digital on Amazon as well as Barnes and Nobles. Buy a copy, support in the podcast, buy a few copies for your friends and family who want to learn about crypto. And if you bought a
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