I've got big crypto news for you guys. Ripple CEO Brad Garlinghouse highlights that the company has received approval for its r l USD stable coin to go live. I'll give you the details there, and Goldman Sach's CEO ways in on the company's crypto plans and will Google's new quantum chip be used to take down Bitcoin. I'll share what some folks are saying and what we can expect. Let's get into it. Hey, everybody, welcome into the Thinking
Crypto podcast. 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 the 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 market. We're seeing a bit of a recovery here for Bitcoin and certain all coins, specifically
XRP and Cardano. But I think it's still too early to judge this. I think we have to let the week play out and let the market show us which direction it wants to go in. Because we're talking probabilities here. We don't have a crystal ball, and we could see further downside pressure before balancing and heading upwards. So let's be patient. But good to see there's some level of recovery, even though it's pretty minuscule. And you know, we kind of want to watch what Bitcoin's going to do because
Bitcoin leads the market. So if Bitcoin finds some support and starts moving up again this week, that's very good for the entire market. But my gut tells me that we might be in a bit of a sideways chopped for maybe a week and a half or two weeks before we see things move up again. So just be patient. This is the market cycles playing out. And remember embrace the volatility because the volatility that gives you these crazy swing downwards also gives you these incredible swing upwards. It's
like a pendulum. Think of it that way. So be patient, and higher prices will eventually come as the bull market continues it because we are in the midst of the bullmarket, there has been no invalidation, So be patient. Guys. Now big news guys. Ripple CEO Brad garling House tweeted out this afternoon this just in we have final approval from the NYDFS for our l U s D exchange and partner listenings will be live soon and reminder, when our l USD is live, you'll hear it from Ripple first.
So our l us D is, of course the stable coin being issued by Ripple. It's going to be launched on the XRP Ledger and ETHEROREM. We know that Charles Hastenson has been talking to Brad Garlinghouse and David Schwartz at Ripple about having our l U s D on Cardano, but I think that's going to be later down the line, but the launch will be on the XRP Ledger and Etherorem.
This is huge news on multiple fronts. First, very big for Ripple as a company and the evaluation of that company and their eventual plans to do an IPO and so forth. Second, very big for the XRP Ledger because on this podcast we've often talked about Metcalf's Law, and Metcalf's Law talks about network effects. The more participants who have on a network, the more activity, more users, and so forth, the more stronger the network becomes and the
more valuable it becomes. And of course with blockchains, you have a native token, so the token becomes valuable as well. So think of Facebook. Facebook was worth millions of dollars before they even monetize the platform at all. Go read the book, Go read the history, watch the social network and so forth. Right, it made no money for years,
but yet it was valuated and millions of users. Why because there was people on there, There was network effects, so it had the potential for monetization and much more. Same type of principle applies to blockchains. So that's why this is bullish for the XRP ledger. It's bullish for XRP because remember when these transactions are happening on the XRP ledger, the token is being used, even in micro transactions. Right, the token greases the wheel. This is the same for
every blockchain. Ethereum, Solana and so forth have that benefit. The third element to you know this being significant is the stable coin market continues to grow. Our l U s D is of course going to be a US born stable coin. It joins USD, c P, y USD and obviously Tether, but Tether wasn't started in the US. It's outside US, but it's the largest staple coin out there, of course, and we'll see how Ripple, you know, what their strategy is and go to market strategy to gain
market penetration is and capture market share. But I think they're going to be off to a good start because they've already built a pipeline, a network, a global network with banks and payment service providers and so forth, so it's going to be pretty easy for them to position and inject this stable coin into those respective jurisdictions, countries,
markets and so forth. So very good news. And from a macro perspective, this is of course very good for the price of XRP, given that we are in a bullmarket, you know, kind of any news is good news and the bulmarket right unless it's detrimental. But this will only benefit the price of XRP. And of course I'm sure you guys have seen my interviews with Brad Garlinghouse and Jack McDonald and different people from Ripple about the stable coin, and if you haven't, you know, go check those out
there in a playlist. I'll link to some in the description where you can learn about these things, guys. So that's really big, guys, huge news for Ripple. But let's move ahead. Here we got news from Goldman Sachs SO three trillion dollar asset manager. Goldman Sachs says it will evaluate participating in bitcoin or e theorem markets if regulators permit.
These comments are coming from their CEO, David Solomon, who spoke at Reuter's next press conference about the firm's future in crypto, saying, the further investments, you know, will be evaluated right now. Goldman Sachs does hold bitcoin and etherorem etf SO. Back in November, Goldman Sachs submitted it's thirteen F filing with the SEC. According to the filing, the finance giant holes around seven hundred and ten million dollars worth of bitcoin ETFs already as of September thirty, of
twenty twenty four. So we know they want to jump all in. If Blackrock and all these other institutions are participating, Goldman Sachs is going to want to do more. They're going to want to tokenize and so forth. It's just a matter of time. It's not a matter of if, it's just when. And one of the things that's been holding them back has been the SEC SAWB one two one rule, which doesn't permit them to hold bitcoin and
crypto directly. I think once that rule is out the way JP Morgan Goldman Sacks, all these guys are going to go all in, So get ready. Things are going to heat up and game theory is going to play out here. No one wants to get left behind. At
the end of the day. If this acid is generating a ton of fees and there's demand for it and you're not offering it, and there's a race among all the Wall Street firms at the end of the day, the goal for them is to generate as much revenue as possible and of course as much profit as possible. You're going to look like an idiot not participating here. So I think they're going to do a lot more. And I think once there's clear regulations, it's going to
open the floodgates. Guys. There's a lot of capital still on the sidelines that wants to participate but they can't, and once the legislation comes through, it's going to be exciting times. Guys. A great place you can buy bitcoin, XRP and different all coins is on Uphold. This is a platform I've been using since twenty eighteen. Uphold is one of my go to exchanges. They are simple to use, they're reliable, they have three hundred plus cryptocurrencies. They're available
in over one hundred and fifty countries. They also offer precious metals and you can actually swamp precious metals for crypto and FIAT and much more. It's a pretty unique platform and they are fully transparent guys. You can review their transparency report. They are one hundred percent reserve, they don't commingle or lend out your crypto assets, and they have a great product called US the Interest Accounts where you can park your dry powder or crypto profits and
earn four point sixty five percent AP. Why. There are no lock ups, you can pull your cash in and out at any point, there are no monthly fees, and it's FDIC insured, just like a bank. So if you'd like to learn more about uphold, visit the link in
the description. All right, guys, moving ahead, I'm sure many of you heard Google has launched Willow, their newest quantum chip, and they said here, in under five minutes, it's able to perform a benchmark computation that would take one of today's fastest supercomputers ten septillion years that's greater than the age of the universe. So technology is moving at a rapid place and we are living in the fourth Industrial Revolution with AI, robotics, blockchain and crypto ev, space exploration.
You see, all these things are happening. Guys, it's the next Industrial Revolution and we're living in the midst of it. It's amazing times. And yes, the world has problems, but you also got to stop to appreciate all the great things that are happening and what the future may look like. But a lot of people are coming out saying, hey, well, this type of technology, these super chips and computers be
used to take down blockchains and for example like bitcoin. Right, So someone addressed this, and I want to share the details because you know, there's a lot of fud being spread. But we got to go back to facts. So the shout out to Ben Sigman. He's actually the author of the Big Bitcoin Book, and he says, today Google announced that Willow has reached one hundred and five cubits with improved error rates. Should bitcoiners worry? Short answer, no. Bitcoin
relies on two types of encryption. First, is the e c D SA two five six, vulnerable to Shor's algorithm, but cracking it would require over one million cubits. Willow's one hundred and five isn't even close. Second Shaw two five six even tougher requires a different approach, Grover's algorithm and millions of physical cubits to pose a real threat. Bitcoin's cryptography remains SAFU for now, so we're still early. This thing is nowhere near powerful enough to take down
the Bitcoin network. The other thing to keep in mind, and I think this has been addressed for years now. If this technology is coming out, guess what the mining technology is going to be updated with it? Rights, Just as we've seen the upgrade of mining equipment over the years as computation and technology has gotten better, So do the miners have to make sure they upgrade? Hell? Yeah, right, they need to make sure their equipment and everything's upgraded.
But is there anything to worry about now, like all of a sudden, will is going to take down the Bitcoin network or other blockchains? No, And if it gets to a point where it can do that, then we got bigger problems. Then you know, this thing could take over the world, It could take down governments and all that. Right, we got bigger problems, so right now, nothing to worry about. But I do believe the miners will will update their
respective technology and mind equipment accordingly as this technology progresses. Now, today there was a big conference happening in the UAE around bitcoin, and Donald Trump's son Eric Trump said he predicts a one million dollar bitcoin. He also stated that he believes that cryptocurrencies are the future. Banking as slow as hell. It's antiquated, and it doesn't work. It doesn't make any sense that banks run on nine to five
schedules five days a week. So he's absolutely right. I agree with them there, All right, guys, some not so good news for bitcoin. The Microsoft shareholders voted against a bitcoin investment. The preliminary votes shows. So this is not really unexpected because the board, if you recall, was not in favor of the idea. Now, the shareholders had to ultimately make the decision and they said no at this point. But do I think eventually once again, not a matter
of if, but when they will do this. I think so. And I shared my reasons in the previous podcast that if Blackrock is here tokenizing, financializing bitcoin and crypto, and we've seen what they've done with other commodities and movements like ESG. A lot of people have to fall in line, right, A lot of corporates were jumping on the ESG train, if you recall, and obviously that that whole movement died
down and on so forth. But uh, I think Blackrock, if the you and along with the US government, you know, forming a bitcoin strategic reserve is going to make it easy for these corporates to add bitcoin to your balance sheet. And you know, we're seeing across the globe companies are doing this. And recently we got to report that a company was going to add bitcoin and excerpt as part of its reserves. So you know, these things are going
to happen in phases. Is going to be crawl, walk, run, right, Not everyone's going to be Sailor, Michael Sailor and just go buy a shit ton of bitcoin and raise incredible amounts of debt to buy bitcoin. So but I think you know, eventually this will happen, guys, all right, moving ahead,
this is a surprise. Kaitlyn Long of Custodia Bank highlighted that the New York Times actually did some good reporting today where they highlighted the Operation Choke point two point zero and the banking of crypto, and you know that was led by Elizabeth Warren and her cronies and the anti crypto army. Look at the headline from the New York Times how crypto insiders turned d banking into a
political storm. So Kaitlyn Long read through and saying it's a balanced story from them, so they actually did a good job. And she highlighted how punch Bowl, sixty minutes and Washington Post and others were running denial stories about this situation. So the truth is going to come out. I mean, we got congressional hearings, we got proof, we got letters, coinbas and these guys released, so all these people who are part of this thing is going to
get they're going to get exposed. Final news item here, we got news that coinbase Institutional they're integrating chain Link and I'm bullish on chain link. I hold in my portfolio and full transparency. They tweeted, I We're excited to announce that our Project Diamond platform is integrating the chain Link standard for on chain finance. Chain Link will unlock utility and unify liquidity across the Project Diamond platform. So this is pretty great and you're just seeing Chainlink being
used by other blockchains and many different companies. The technology is pretty amazing. So this is why I'm holding in my portfolio. Not financial advice, of course, so they said here in their press release. By natively integrating chain Link standard coin basis, Project Diamond Platform can now offer data and cross chain connectivity in a secure way that helps meet the compliance needs of institutional adopters. So big stuff, guys. All right, folks, that's the news. Let me know what
you think. Leave your thoughts and comments below. A great way you can support me, guys is by signing up for my free email news that are on Substack. It's one hundred percent free, and grab a cop in my book, Rethinking Crypto. It's available on Amazon and paperback in digital. Grab a copy for yourself, grab a few copies for your friends and family who want to learn about crypto. Give it as a gift this holiday. And if you bought a copy already, please leave a rating review. Thank
you guys. I appreciate you all, and I'll talk to you all later.