¶ Intro
Hey everybody, Welcome into the Thinking Crypto podcast. You're home for cryptocurrency news and interviews. I'm your host, Tony Edward.
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There's nothing new to report on the price. We're still waiting for bigcoin to make that move, whether that be a relief rally move or a continuation of the bullmarket to new all time highs. So at this point it's a waiting game. If there are major changes, I will of course let you guys know. But let's jump into some crypto news.
¶ XRP and Dogecoin ETFs go live
Today.
We had a bunch of xrpce body ttfs go live, so grey Scales xrp trust ETF went live, so that's a big one. And also Franklin Templeton launched their xrpce body TF, so a lot of xrp spoty tf's going live here guys. And Greyscale also launched their doge coin ETF, so this is really great. It's going to build a lot of awareness about these assets. It's going to be another on ram for people to participate in the crypto market,
and you know, more of the supply to be bought up. Now, obviously we are in a major correction, so we have to get out of here before you start to see these ETFs perform really well. And here Eric Balachunz of Bloomberg says there are five spot crypto ETFs launching over the next six days. Beyond that, we don't have exact details, but we expect a steady supply of them, likely over
one hundred in the next six months. And he shared a chart here that's his colleague James Seifert, who have had on the podcast, put together just showing bit wise as doge Coin ETF, Gray Scales, chain Link ETF as well. So a lot more is down the pipeline, and you know you're going to see a lot of all coin ETFs here. I expect to see Avax, Cardano, more Hbar
ETFs and so on and so forth. Once again, I know the timing is not great with everything is happening in the market, but still it's these on rams being set up are very good for the long term. And you know, if we do see some sort of relief rally for bitcoin and all coins start going bananas, you
could see the inflows take up. Now, if the bullmarket continues, you know, based on let's say my thesis of the macro factors, and we go to new all time highs, you're going to see a lot of inflows into these respective ETOs.
¶ VeChain Rekord Tokenization
Now, we have some.
Interesting news around v chain. So vchain announced today that they have partner with Record to deliver digital product passports and RWA infrastructure for the EU market. So vchain has entered a strategic partnership with Record to accelerate the next phase of the tokenization infrastructure for real world assets. This partnership brings together Vchain's battle tested, energy efficient blockchain with Records API first trust layer which makes data streams tamper
proof with minimal integration effort. Enterprises will be able to secure logs, documents, and product events on chain without changing user experience or rebuilding core systems.
So this is really great adoption for v chain.
I am a VET token holder, many of you know that, and I am bulsh on this project too. They continue to get adoption across the globe from different brands and companies, and this is a pretty big one. You know, we're seeing the tokenization trend grow significantly. Everyone is joining the tokenization.
Race now, folks.
A great place where you can buy, sell, and stake your crypto assets is on Uphold. So if you want to buy v chain or XRP or doge or bitcoin itself, you can do that on an uphold and they have three hundred plus cryptocurrencies. They offer staking on twenty plus crypto assets now. I've been a user of v chain since twenty eighteen. They're one of my go to exchanges.
I've never had any issues or problems and they've always been reliable and best of all, they don't commingle or lend out your crypto assets and they are one hundred percent reserve. You can review their transparency report on their
website now. They also offer a great rewards program where you can earn up to five point two five percent on stable coins and part of the rewards program you get twenty four hour early access to new tokens that they list now to stable coin z. The support for this program is USDC that's issued by Circle you get two percent. There are l USD which is issued by
Ripple you get five percent. There and USBC you get five point two five percent there, so great program and in order to participate, you simply have to open the app once per month, deposit fifty dollars once per month, and trade fifty dollars once per month. And folks, they're doing it the right way. I vetted this. I interviewed the CEO and many folks, and they're not doing anything weird or shady like you know firms having the pass.
¶ JPMorgan Jack mallers debanking
They are a regulated exchange and they're doing it the right way. So if you'd like to learn more about Uphold, check out the link in the description. Now, folks, it seems Operation Choke point two point zero is not over and JP Morgan is continuing it. So JP Morgan has ended banking ties with Strikes CEO Jack Maller So. Senator Cynthia Lumis even tweeted out about this, and she said, policies like JP Morgan's undermines confidence in traditional banks and
send the digital assets industry overseas. It's past time we put Operation Choke point two point zero to rest to
make America the digital asset capital of the world. So Jack Maller's, you know, I highlighted that they closed his account, and he's been banking with them for a long time, but he has made some very scandalous comments about Jamie Diamond and JP Morgan, talking about you know, the work they did with Jeffrey Epstein and all that, right, and he's not wrong, but he's been very public and it seems like there's some retaliation here because when he asked them, why have you debanked me?
And they are like, we're not allowed to tell you.
So that's weird, right if you did something and they're like, hey, you did X or why and this is why we're shutting your account. Okay, you know, you give a valid reason.
They're just not saying anything.
So this is clearly some form of retaliation and it sucks that these banks can do this. They can shut your account down, don't give you a reason, like what, But you know the end crypto industry is going to fight back. We've been winning these battles and we won the war. Honestly, it's we are in the then you win phase, right, So these folks that are going to
be in for it as crypto. You know, even crypto is preparing for the midterms coming up in the election, So stand where Crypto is going to vet twenty twenty six candidates on digital asset positions. So Crypto is ready to spend money again. And anyone who's anti Crypto are they going to get their assets handed to them again? Because Crypto was the biggest spender in the twenty twenty four US elections and we saw how that panned out. So Jamie Diamond and JP Morgan, they are going to
be in trouble now. They do have a lot of power, so we'll see what happens. But I think if the public pressure builds up, plus the pressure from members of Congress, they're going to have to capitulate or at least give an answer why they debanked him.
And let's see if they start to debank other people.
Even though they have been embracing Crypto, you know, they're kind of forced to. You know, I don't think they want to. I think Jamie Diamond is doing it kicking and screaming. He does not like it at all. But like I said, we're in the then you win phase. Well, let's watch this closely. Are these banks, you know, trying to stop some of these players so they can push
their products and services right that they're building out. Let's see how this works out now moving ahead, Onto Finance turns to figures stable coin with twenty five million dollar investment to back Tookenize fun So I am an Onto token holder. I'm bullish on this project. I recently interviewed
¶ Ondo Finance stablecoin
the founder, Nathan Allman at Chainlink Smart Con. Many of you have seen that interview at Publish a few days ago. So Onto Finance has purchased twenty five million of YLDs, the yield bearing stable coin issued by Figure Technology Solutions, to diversify the assets backing its tokenized US Treasury funds.
The company said.
Monday that YLDs will be added to a reserves portfolio that already includes tokenized treasury products from major asset managers, including funds issued by Blackrock, Fidelity, Franklin Templeton, and wisdom Tree Design. For institutional investors, the Onto Short Term US Government Bond Fund offers on chain exposure to treasuries with twenty four to seven redemptions and an estimated annual return
of three point sixty eight percent. The tokenized fund has about seven hundred and seventy seven million dollars in total value locked as of this writing.
So guys.
We continue to see expanding and building, which is very healthy. And you can see tokenization is the big race here in to stable coins, and these folks are backing their tokenized funds or with different assets, so they're backing with figure stable coin, which is interesting. Now crypto is a
¶ Japan Crypto Exchange reserves
global acid class, and we got news out of Japan, Japanese watchdog to require exchanges to hold liability reserves. So across the global seeing the infrastructure being built for the crypto acid class, regulations and rules are being put into place. There's no banning anymore. The people who are anti crypto have capitulated. They've all disappeared. You got the un educating people about crypto. You have the IMF and the BIS showing people which way to go, which rules to put
into place. They've completely capitulated. It's amazing. So the Financial Services Agency in Japan will reportedly require cryptocurrency exchanges to maintain liability reserves as part of measures to guard against hacks or unforeseen events. According to a Monday NIK report, Japan's FSA will revise its requirements for local companies to include methods for quickly compensating users affected by security breaches.
Or other causes. The Financial Watchdog cited recent hacks of global exchanges as part of the reason behind the change. So I think this is great. You know, these exchanges need to have the liability reserves. Something happens, right, unforeseen events like the article says that they can make their users whole.
The right. We've seen this time and time again.
This is why I encourage you guys to do self custody treasurers one of my sponsors. I use the you know the devices, the links will be in a description to hold the majority of your crypto assets there because you know, you control the private keys. You can put it in a safe and a safety deposit box or whatever.
Right, But there's a risk.
When you put stuff on exchanges and you leave it there, because even if the exchanges is really great, they're not trying to scam people, they could be attacked. And now if they have insurance and they have the liability reserves to make you whole, then you know, I think that's good. Maybe you can leave a little bit of crypto on there, but if you're leaving all your crypto on their long term, make sure they have the reserves and the insurance. But I would highly recommend you go self custody.
So this is good.
You know, we need this globally, have the reserves to make people whole, have the insurance and so forth. So the Financial System Council and Advisory Body to the FSA is set to release a report on the matter following a meeting on Wednesday. One of the expected recommendations would require crypto firms to create liability reserve funds. So this is great, guys, this is what we want to see. And just look at what's happening the building out right.
A lot of the white glove service, a lot of the insurance, assurance and infrastructure that exists in trad.
FI is now being built for crypto.
So that is a very good And look some of the trad five folks are building it right because they want to offer these services. They know what their clients want and they have the pedigree. They've gone through the process with stocks and other assets. But with crypto it's new. They got to do things a little bit different, but still you got to have that infrastructure. So all great news here, folks. Folks, that's the news. Let me know
what you think. Leave thoughts and comments below. I know we're going to head into Thanksgiving with not any type of major price action, which is very different. It's a big departure from what we've seen historically. But look, this is the nature of markets, right and I often say, no one has a crystal ball, and we need to
adapt to the market changes. Obviously, we don't want to invest with hopes and dreams and feelings, but rather look at the data, and we're just seeing a shift in the timeline, you know, with the headwinds we've had this market. And I think a big milestone will be the FED ending QT that is happening December first, so pretty much next week, so I think, you know, I'm waiting to see what happens posts FED ending QT, and then you get the market structure. Bill liquidity is going to start
flowing again. We're seeing different governments around the world like Japan start to do quantitative easing. The FED, I think, is going to cut rates again, so we're heading to a very loose monetary environment where low rates quantitative stop and then FED I think we'll roll into quantitative easing at some point. But you know, they have different mechanisms and ways to inject liquidity, like we've seen in the Treasury, the TGA, and much more so. Patience. Patience is a
key here, folks. I know it's painful, I know it's rough. I'm with you, but we got to be able to push through these things because it's the nature of markets, right. You can't have the pumps without these type of volatility moments. Now, a great way you can support me in the podcast is by subscribing to my free email newsletter. It is one hundred percent free. Link will be in the description.
Check out my book on Amazon it's available in paperback in digital, and my course at mycrypto course dot com. This course teaches you everything you need to know about crypto, so if you'd like to learn more, check out the link in the description and I'll talk to you all later