The SEC takes a massive loss in the coin base case, getting called arbitrary and capricious again. And Gary Ginster is trying to save face. He's got a bunch of media rounds he's going to do tomorrow. I'll share what the industry is saying about all this. And Gary Ginster and reports are coming into Donald Trump's going to do an executive order day one for crypto, possibly repealing SAB one two one. 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 let 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, we got to talk about bitcoin because we know bitcoin took a bit of a tumble earlier today and it's currently up a bit.
It's around ninety four thousand dollars. But what's happening from the macro right, We've been talking about the macro backdrop with the treasury bond yields and inflation, you got problems happening in California with fires. I think it's now the United States costliest natural disaster. So there's a lot going
on and the markets are a bit spooked. However, you know what we've seen is that narrative usually follows price, and I think there's a bit of that because after the Q four run up, which was incredible, a cool down was needed and then you had all these things pop up and it's driving more cell pressure. However, from a macro perspective, guys, we're still on track. There hasn't been any invalidation of the bull market, and I love what analyst Crypto Wizard had to say, not much longer.
Bitcoin is experiencing a healthy ABC correction, just like it did every January in a bull market. It's nearing its end. History shows after this we'll see a rally with a March top. If you're calling a top, you might want to do that in March. So it's what I've been telling you guys, right. The seasonality is playing out here, not just for bitcoin and crypto, but for the stock market. I told you guys we could see a run up
into March April. Then what happens selling may go away then a continuation in Q three into a Q four mania blow off top. Now the bow off top could come at the end of Q two, that's possible as well. So we'll have to watch the charts closely. But what we're experiencing right now is nothing outside of the norm.
And that is what I want to hammer home, because when you look at the charts and the data and much more, no invalidation, similar patterns of what we saw in twenty seventeen, twenty twenty one, and now in twenty twenty five, guys, So we got to really exercise patience and really look at the data. He also highlighted the following a market sweep. We're now on the fifth sweep. Some people never learn Bitcoin will sweep sellers up and leave them trapped and sidelined, only to see it rally
to new all time highs once again. It's an evil role for bears. So bears are going to get excited. Oh you see bitcoins down and all coins are down. We're going to short. But it's very dangerous to shorten a bull market because things can reverse very quickly. Because
you have that sentiment, you have other macro factors. So bears are on a short leash here, and while they may get some profits shortening a bit, it's not going to last long because this is not the blow off top folks, based on the data, not our feelings or in emotions. So we really got to be patient here, guys, and let's see if there's some recovery by the time next week that Trump is back in office and we get some updates from a macro perspective with what the
Fed's going to do a QI and all those things. Now, speaking of President Trump, guys, there's reports coming out from the Washington Post saying President elect Trump expected to repeal crypto accounting policy requiring banks holding digital assets to count them as liabilities. So what is this. It's the repeal of the SEC's bullshit rules SAB one two one, which is like a de facto block on banks being able
to hold bitcoin and crypto on their books. So that's the block, right, and it looks like they want to make this a high priority and get it repealed. There could be some sort of executive order that would be huge because if these banks are able to hold directly, it removes a big roadblock and they can start buying and holding directly. So here's a quote from that article. The Trump team has made it very clear that this is a priority. So very bullish news here, guys. Now
the big news of the day. The SEC and Gary Genser take a massive loss in the coin Base case. They continue to lose. It's what we've been talking about since the Ripple lawsuit was filed. We've been talking about it on this podcast for years, calling out the hypocrisy, the lies, and the unlawful activity of the SEC and Gary Genser. Paul gritwalla chief legal officer a Coinbase, tweeted out, we just won our petition for a writ of men damus at the Third Circuit, rebuking the SEC for its
order denying our rulemaking petition. The court held that the SEC's order was conclusiory and insufficient reason, and thus arbitra and capricious. We grant coinbas his petition in part and remand to the SEC for a more complete explanation. And guys, I mean, wow, the second time this government agency funded by your tax dollars is getting called arbitrary and capricious. And that's because he's being led by a scumbag regulator,
Gary Genser, who does not care about the law. How many times have I told you, guys that he doesn't care about the law. This is about power. This is him being lobbied by the banking cartel to shut down these crypto startups so that the banking cartel can take over. It's the Jamie Diamonds of the world that are pulling the strings here. We saw it in twenty twenty four when Elizabeth Warren teamed up a Jamie Diamond to bash
bigcoin and crypto. And we're going to talk about Elizabeth Warren a bit later because she's still that up to her nonsense. But guys, what a massive win for coinbase and what an epic defeat, a massive l for Gary ginsterro the SEC. This is how he's going out. Let me give you some more details from an article that
they did a full write up. In a January thirteenth opinion issued by the Third Circuit, a panel of three judges granted a petition from Coinbase in part, but declined to order the SEC to launch rulemaking proceedings that could clarify the Commission's position on crypto coinbases. Appeals stemmed from a twenty twenty two requests for the SEC to create rules to govern the regulation of securities that are offered and traded via digitally native methods, including potentially rules to
identify which digital assets are securities. The SEC denied Coinbasis petition in twenty twenty three, prompting the exchange to appeal to the Third Circuit. According to the judges, the SEC's ordered denying Coinbas's requests for crypto rules was conclusiory and
insufficiently reasoned, and thus arbitrary and capricious. Unbelievable. They got called arbitrary and capricious in the gray scale case, were denying the bitcoins BODYTF And we know what happened after that, of course, and getting called out here and guys, the losses are piling up right and we'll see what Gary decides to do. This scumbag if he does anything with the ripple case right before you know, he heads out. I don't know if he will, but you can't put
anything past this guy. He is a scumbag regulator and he's a puppet on strings. So whatever his puppet masters tell him to do, he's going to do. So the industry weighed in, you know, every legal expert calling out a huge win here. Stuart Aldaradi of Ripple, Chief leagual officer at Ripple said, huge congratulations to Paul Gridwall and
coinbase for their win today against those final days. His anti crypto crusade is imploding and a federal appeals court has laid bare what the industry has said for years. His selective enforcement of securities laws was a not so covert attempt to ban the industry outright shameful. So he's spot on there. Also, Attorney Frederispoli said, love seeing the SEC get called out at the appellate level today. FYI
at highly professional appellate level. Calling the SEC ifvasive and engaging in puzzling behavior can be translated as calling them lying chumps in a common vernacular. So I'm telling you guys, the SEC has become so rotten at its core, and they will lie, They will stab you in the back. These are the people, once again supposed to be the good guys, protecting consumers right abiding by the law. But they will break the law. They will lie to the court.
Just look at a debt box case. They got sanctioned in the debt box case for lying to the judge. Why would you do that? Why would you go to that extent for a small industry like crypto, because that industry is disrupting the status quo of the banking cartel. That's why you go that far. That's why you don't care about what happens to your reputation. You are doing the bidding of those banking puppet masters, and that is
not conspiratle guys, that is fact. If you know how politics works and money works, and how the incumbents will fight and the strings they they will pull, they will pull the people in the government. Hey, I gave you campaign donations. Hey Gary, you're one of us. You're a Goldman Sachs guy. You know what to do. Remember, Gary, before he came to the SEC, was very pro crypto. The man was talking about building uber on algorand he was teaching bitcoin and crypto at MIT. He tried to
go work for Binance. Then you come to the SEC and all of a sudden, this is all a scam and it's all garbage, and it's right with fraud and right. So notice the complete one to eighty. Why his puppet masters told him what to do. Here, Fred Wispoli continued saying, after reading this coinbase emphatically did not win this case. TLDR. It lost on almost every argument, only starts winning on page thirty eight. And what it did win on the
SEC did not provide a sufficient reason for denying. The position can be remedied by the SEC upon remand But interestingly, this is a phenomenal concurrence by Judge Bevis. That is exactly what Ripple is appealing. That old musty, dusty, crusty rules from a century ago don't work for crypto. As I explain, its old regulations fit poorly with this new technology, and its enforcement strategy raises constitutional notice concerns. That is
a quote from the judge. And then Freddie says, if the Second Circuit adopts this line of reasoning, the SEC's done for good with Crypto. Wow. And we know the FIT twenty one bill, which was passed through the House last year Democrat and Republican support, gives more power to the CFTC and takes away a lot from the SEC, so there'll be more balance in the market. So Ganser's done. Man, he's going to be out next week. My hope is that he doesn't do anything shady here. And let's see
what happens. But you can't trust this guy. He is a scumbag. And check this out. He's doing his media tour before he runs out of office. He says, tomorrow, I'll be on CNBC at eight am and then Yahoo Finance at three pm. Most people will go out quietly. Even Jake Clayton kind of you went out quietly even though he dropped that lawsuit, but he didn't go on an immediate tour. Gainster's trying to save face. So you see what's happening here. He just did an interview with Bloomberg.
Why do you need to do CNBC and Yahoo Finance? Trying to save face because he's getting destroyed. He's losing in the courts, right he doesn't he's trying to change the headlines from the SEC gets called arbitrary and capricious right as he's about to exit. Notice what this is the game? Gary knows he's a smart guy. I'm not saying he's dumb, but he's a scumbag. So and John
Deeton summed it up really well. He says. Another example of how Gary Ginster is leaving the SEC in disgrace, the reputation of the SEC, both inside and outside the courtroom is in complete shambles. Paul Atkins has his work cut out for him. He says, it would be nice to witness real reform in the SEC. Also, we need to reform slash abolish the accredited investor rule. The rule is inconsistent with the free market capitalism and oppressive in
a society of self determination. If you can serve your country in the Marine Corps and risk dying, you should be able to purchase pre IPO shares of visa like Nancy Pelosi and her husband did. I love that. I love that. Guys. We are winning. We are on the right side of history. Ganser's done. But before I continue, guys, we're gonna talk about Paul Atkins and Elizabeth Warren. Be sure to check out our sponsor, bitgo, which is one of the top tier crypto custodians in the crypto market.
Bit goes headed up by Mike Belshie, who's a web one point zero two point zero legend. Bitco works with many big companies across the crypto industry, such as exchanges. They work with for example Bitstamp, Exchange Suite, the Crypto Token Project, Pantera Capital. That's Dan Moorehead's hedge fund twenty one Shares, which issues bitcoin and etherramy tfs. So they have a variety of services, wallet services, they have a liquidity and capital hub, and a whole bunch of things.
And they recently launched Guys, a retail platform where you, as individu rules can go by, sell, trade and stay crypto. So it's a really great easy to sign up, So check out the link in the description or go to
bitgo dot com. Now let's continue, guys. Paul Atkins has been making the rounds meeting with different members of Congress, and we're seeing a lot of procrypto people meeting with Paul, and here Senator Bill Haggerty, who's been a champion for crypto, says Paul atkins background at the SEC and in the private sector, witnessing the real life impact of regulations makes him exactly the person that the SEC needs as its next chair. It was great to meet with him and
I look forward to seeing him lead the agency. So we are seeing a procrypto alliance here, guys, with Donald Trump positioning procrypto people across the government. Now, Elizabeth Warren, Gary Ganser's handler, right, she sent a lengthy letter to Treasury Secretary designate Scott Piscent. So Scott pisents Procrypto's going to be in office very soon, and of course that
letter included a whole bunch of anti crypto stops. Eleanor terrator Fox Business summarized it well, saying Senator Warren's thirty one page letter to Treasury Secretary nominee Scott Descent previews a number of crypto related questions she plans to ask during his confirmation before the Senate Finance Committee on Thursday.
Questions include whether he thinks the Treasury Sanctions arm O fac should have jurisdiction over stable coins, and whether or not it should have a tool to cut off fintech in crypto companies from the US if they pose risks. So we know Warren's agenda right now. As always, I believe in law and order. I believe the SEC has a job to do to protect consumers. Now they've fallen far from that mission because of Gary Ginster and his bullshit.
But at the end of the day, these agencies, you know, they're there to police and make sure bad actors don't do things. But we need to clean up these people have become so political and they have all kinds of agendas like Gainser and a Warren. And while it's not necessarily wrong that OFAC can review the crypto transactions and take a look, we want them to do that, but we don't want them to break the law and come
after crypto and fairly wet. We don't want them to treat crypto arbitrary and capricious like Gary Ginster has been doing. We want them to do their job that if they do see a bad actor, they go after that bad actor. But Warren, you got to watch her framing. It's very sneaky, right, She'll try to make it seem like yo, you know, will you shut these things down if something happens. Wait, wait a minute, why would you need to shut it down?
Why don't you just go after the bad actor? In certain cases can exchange us block a wallet, sure, but her verbiage is very broad, you know. For her, it would be like the government trying to shut something down without a warrant right or trampling over your rights. So it's the nuances. You got to watch her framing, very sneaky, So let's see what she decides to do. But the good thing is that she's lost. Her anti crypto army
is falling apart. Ganser is gone, Sharad Brown is out, you name it, right, But she's still going to try her sneaky stuff here because she's still being lobbied by Jamie Diamond and these banking cartel people. But the crypto army is growing, folks here are Brian Armstrong, CEO of Coinbase, highlighted that standard crypto just crossed a major milestone two million advocates. He says their stretch goal is four million advocates by the twenty twenty six midterms. This will be
a powerful voting block in every election moving forward. The crypto voter is not slowing down. So, guys, crypto is on the rise and adoption people who are both Democrats and Republicans invest It only became political because of Elizabeth Warren. Right, I have Democrat family members and friends. I have Republican friends and family members. The investing crypto. Guess what, when they're talking about it, they're not Oh, this is a
Republican acid class, or this is a Democrat. No, it is stupid, right, But Elizabeth Warren made it that way, and that's why big part of why the Democrats lost. Crypto was the biggest spender in the election. We talked about it at a nauseum leading up to the election that what Elizabeth Warren and Gary Genster were doing it was going to hurt the Democrats. Now, Kamala Harris had an opportunity to disavow and stop this, but she didn't do it. And you make your bed lay in it
all right, let's move ahead. Final news item, blockchain forensic firm Chainnalysis acquires AI powered fraud detection platform Alteria. So Chaninalysis is one of the firms that helps to track what's happening on the blockchains to help stop bad actors and much more. I believe the government is going to use their technology to do a lot of these things, and it sounds like they're going to bolster their services
and products with AI. So Chainalysis intends to use the acquisition of the Israeli firm Alteria to bolster its illicit transaction prevention strategy to company noted on Monday. So this is good. We want this type of information out there that the government and different companies can use it to protect themselves from bad actors. At the end of the day. It's not about shutting down crypto. It's about stopping bad actors, just like it was about stopping Bernie made off in
a regulated market, Bernie made up with scamming people. Does that mean you shut down all the banks and you stop stop using ATMs and all this stuff, of course right. Does that mean you stop investing in hedge funds or whatever in the markets? Of course not. We just have to stop bad actors. So this is really great to see that these company's you know, boltering its services. And I think there's going to be more solutions coming that will help the governments and all these folks to monitor
things accordingly. They can monitor and if they find something bad grafted the bad guys, don't try to shut down the whole blockchain network and all that nonsense. Right where you can black list certain wallet addresses and things like that. Folks, let me know what you think about this news. 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. It is one hundred percent free on substack and grab a copy of my book, Rethinking Crypto. It covers Crypto's past, president and future. Buy a copy for yourself by a few please for your friends and family, help them to learn about crypto. Knowledge is power. And if you bought a copy ready, please please please leave a rating and review on Amazon. It will really help me out. Thank you guys. I appreciate you all, and I'll talk to you all later