The sec releases huge updates around stable coins, saying they are not securities. I'll give you all the details there, and you won't believe what Scott percent, the Secretary of the Treasury, is saying about bitcoin and black Rock's Biddle pays out incredible amounts of yield, making me think I want to invest in this. I'll give you all the details. Let's get into it. Hey, everybody, welcome into The Thinking Crypto Podcasts, your home for cryptocurrency news and interviews. I'm
your host, Tony Edward. On your way in, Please at 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. The tariff madness continues as China today responded to the US tariffs. And I'm not going to go through all the details there. I'm sure you guys have seen it in the mainstream news, but what I want to highlight is the impact on
the markets. A very good sign that we are seeing is that bitcoin is holding up pretty good relative to everything that's happening in the market. I mean, it's not dumping it's kind of just chopping sideways. Now, that doesn't mean it can't dump further down. But when you see the SMP five hundred and the NASDAC and the Dow Jones Industrial just blood on the streets dumping heavily, and Bitcoin is just like stuck there. It's very fascinating and
I want to share what different folks are saying. But like I said before, it doesn't mean Bitcoin can't dump this weekend, right, but we'll have to watch it closely. If this holds up, it could really help change a narrative around crypto because bitcoin is still an asset that is very young. It's only been around since two thousand and nine, guys, so in comparison to the stock market, gold and much more, it's a baby, right, so it has the maturity to do. But this could be one
of those growing phases. Maybe it's a teenager now it's sixteen years old and it's starting to mature, so we'll have to wait and see. It would be really good if bitcoin held up because it will give a lot of investors who have been skeptics a lot of confidence to enter the crypto market. Here's what Arthur Hayes said, kind of echoing these statements. Bitcoin holders need to learn to love tarrists. Maybe we finally broke the correlation with the NASDAC and can move onto the purest form of
a fiat liquidity smoke alarm, we'll see. You know, I don't want to celebrate too much because markets can certainly go against the herds everyone is. If everyone is believing, oh yeah, bigcoin's holding up, right, then bitcoin dumps, then that narrative quickly goes away. So we'll have to wait
and see. Here and here, Ryan Resmussen from Bitwise Asset Management, he highlighted the performance where gold is down, the SPUI, the QQQ, Microsoft, Google, Amazon all down, but Bitcoin up two point two percent on the day since Liberation Day. So interesting statistics here. All right, big news coming out of the SEC today, folks. This one is pretty big
because Congress is working on crypto legislation. This past week in the House we had the Stable Act get approved, and we know in the Senate there's the Genius Act, which was introduced by Senator Haggarty. So the SEC Division of Corporation has just put out a guidance on stable coins.
The agency has minted a new term covered stable coins, which describes stable coins that maintain a stable value relative to the United States Dollar on a one for one basis, can be redeemed for USD on a one for one basis, and are backed by assets held in reserve that are considered low risk and readily liquid, with a USD value that meets or exceeds the redemption value of stable coins
and circulation. So they're essentially saying stable coins that act like this, which is the majority of stable coins out there, are not securities. Remember when Gary Genser tried to say stable coins and securities, right, he was trying to say everything's a security. But it's like, how can a stable coin be a security? One is just simple pegged to the dollar. It doesn't move beyond that value, and if you're just using it to transact, how to hell is
that of security? But that's why Gary answer has gone and why I call them a scumbag regulator. So the division says that covered stable coins are not offered or sold as investment contracts and therefore do not fall within the SEC's jurisdiction. The statement does not cover algorithmic stable coins, yield bearing stable coins, or stable coins attract the value of assets other than USD so the yield bearing I could see where the SEC may call some of those
securities will have to wait and see. But guys, this is huge and to have this from the SEC as stable coin legislation, I think is going to make it
through this year. It's high priority because there's a geopolitical aspect to this with the US dollar being the world reserve currency, and it will give a lot of institutions the greenlight to participate, whether they launch your own stable coin or use other stable coins in the market that they're not going to get a lawsuit from the SEC if they simp want to use it for payments and issue their own and whatever it may be. So this is huge clarity, and it follows the SEC providing clarity
on meme coins as well as crypto mining activities. In addition, we're waiting for the SEC to talk about NFTs. I think that's the next big one, and then eventually they're going to have to talk about different cryptocurrencies and digital assets. I think they may wait for Paul Atkins on that and there's going to have to be more work on that end because that is more complex with the amount
of blockchains and tokens there are out there. David Sachs, the White House Cryptos are tweeted out the news saying the SEC has determined that fully reserved liquid dollar back stable coins are not securities. Therefore, blockchain transactions to mentor or redeem them do not need to be registered under the Securities Act. Helpful clarity from the SEC. Now, moving ahead, we get some very big statements from US Treasury Secretary Scott percent. He said bitcoin is becoming a store value.
Let me play a clip for you.
It was unclear whether we were going to exempt gold from terraces, which I believe we have. So there's a big move out of vaults in Switzerland, out of volts in London to get it into New York. And look that there are a lot of different stores of value over time, Bitcoin's becoming a store of value. Gold has
historically been a store of value. I think what's interesting is where do we see the gold demand coming from a huge amount is from China, where As I said, they're in the middle of an economic recession slash depression. People don't trust the Chinese currency because they have capital controls. There are one point four billion Chinese who won't want to get their money out, and they won't let them. They will let them buy gold.
Folks, these are big statements from the Treasury Circuitary, and we know he's pro crypto. Know the entire US government for the most part, is pro crypto, but when you hear it from folks of this caliber and the respective positions they're in, it's huge. And I think there's going to be a global fomo for bitcoin as the United States put up this signal that they want to launch a bitcoin reserve and they're exploring the ways to buy that bitcoin that is revenue neutral and not a burden
to the taxpayers. But I think central banks around the world will start holding bitcoin and it will sit alongside gold, just like they currently hold gold. And we could be at the cusp of another Bretton Woods moment, similar to what happened after World War Two, where you had the agreement of the gold backing the dollar and the US
dollar becoming the world reserve currency and much more. You guys can steady up the history, but it feels like we're at that moment with bitcoin here, so big statements and Bitcoin's here to stay, and we are seeing bitcoin ETFs continue to grow and black Rocks expanding It's bitcoin E to U to UK and other countries, so things are moving in the right direction now, folks. A great place you can buy bitcoin and other cryptocurrencies is on Uphold.
Uphold is a platform I've been using since twenty eighteen. They recently re added staking rewards for nineteen cryptocurrencies. They have three hundred plus cryptocurrencies on their platform and Folks, they are easy to use. They are safe and reliable. They don't commingle or lend out your crypto funds. They are one hundred percent reserved and they have a transparency report that you can review now. They offer a great reward program on stable coins where you can earn up
to five point two five percent. Part of this reward program is you get twenty four hour early access to new tokens that they list, and in order to participate, you just simply have to log into the app once per month, deposit fifty dollars once per month, and trade fifty dollars once per month. And the stable coins they support include Circles USDC, Ripples, r l usd Paypals, p Yus that you can earn up to five percent of those and up to five point twenty five percent on USBC.
So this is a great program, upholds a great platform. So if you'd like to learn more, visit the link in the description. Now, folks, look at this news. Black Rocks Securitize issued Biddle paid a record four point one seven million dollars in March dividends. That's pretty incredible. If you recall, Blackrock tokenize a money market fund on the Ethereum blockchain. They named it Biddle, and it's mostly for it's essentially for credited investors. But the amount of dividends
they're paying out is pretty lucrative. I'm going to have to look at possibly investing in this. I have to do more research, but I like this, and you know Blackrock is backing this. And if you guys recall just I think it was last week they expanded to Solana. So the on chain money market has dished out some twenty five point four million dollars in investor returns within a year, according to a Friday disclosure from the broker dealer.
Here's the quote. Biddle's market leading AUM assets under management reflects the growing demand for institutional grade yield on chain while also showcasing the many benefits of tokenization. Michael Sonnenschein's Securitize COO and former Gray Skille CEO told The Block He says, unlike traditional money market funds, which typically pay dividends monthly, delivers daily payouts, providing investors with a return
on capital that they can immediately deploy. It's a clear example of how tokenization is not just making traditional financial products more accessible, but fundamentally better. The daily payout is incredible and this is why they're looking to put all of these assets on the blockchain, guys, because you have instant settlement transparency, the ability to track this in real time. It can be used around the globe, nor more having to wait days or weeks for settlement. It settles instantly.
This is the future, guys, and they're going to put stocks and everything on the blockchain. Pretty incredible stuff. Yeah, we have some interesting updates around ethereum Etherorem developers aim for May seventh main net deployment of the Pectra upgrade. So this could help Etherorem, I think perform a bit better. It's been lagging in this bullmarket. I think even staking being added to the Ethereum's body test will help Ethereum
perform a bit better. So this was slightly delayed from the prior estimated date in April as far as the upgrade time, but the latest decision to finalize the May date was majoring a core developer's call on Thursday following a successful test of the Hoodi test net. The call brought together key contributors to discuss the progress in scheduling of the Petrol hardfork, the most significant update to the
Ethereum network regarding software changes. The upgrade includes eleven modifications via etherorem improvement proposals, which strive to improve the network's usabilities staking capabilities. So this is a big update and and that's why I'm highlighting it because I think this could have a strong narrative and could impact the price and as mentioned in addition to staking being added to the etherory METF. But ETH hasn't had its day in
this bull market. So let's say, come May. The market is bouncing because you know, right now we are maybe at the tail end of some of the tariff announcements and they're gonna be wrong. I think we have the bottom out and then we'll bounce because markets don't go down forever. I believe the FED is going to launch QE and cut rates, and I believe that's going to send the markets going higher again, and ETH could start to see some performance here, especially with things like this,
which could be major catalysts. Now on the Salana front, not so good. Solana whales begin offloading soul amid a two hundred million dollars staking unlock. So this is pretty wild. Solana whales have offloaded their tokens to cash in on gains from a staking play that began four years ago. In April, only twenty one to four whale addresses staked one point seventy nine million Solana tokens, then worth about
thirty seven point seven million dollars. The steak was unlocked on April fourth, in what Arkham Intelligence called the largest single day unlock of staked soul. The firm noted that the next similar unlocked is not expected until twenty twenty eight. At the time of the unlocked, the tokens were valued at roughly two hundred and six million dollars, representing a four hundred and forty six percent gain from the initial staking period, not about a return there huh, But they're dumping,
so it is what it is. We'll see how this affects the remainder of the bull market as prices start to run. Maybe Solana loses some steam here and a lot of the liquidity starts going to like eth and so forth. We'll have to wait and see. I'm just speculating at this point, but a lot of coins being put out here, but we'll see that at least the next unlock is not till three years from now. Now. Final news item here, Circle and Binance have formed a partnership.
Usd C is now the default currency for new Binance Pay users. Jeremy Alaire, founder and CEO of Circle, says, a big move by Binance, who has quietly built one of the largest financial super apps in the world with over two hundred and fifty million users, and has now made USDC the fiat currency for Binance Pay. They're peer to peer and merchant payment solution with over forty million monthly active users. So big partnership here. Shout out to the folks at Circle, and I think they're making a
lot of moves because they want to IPO. Now there are reports coming out that they may be pushing back the IPO because of all the economic uncertainty we're dealing with. You know, one of the things I mentioned the other day, way a hell would circle one to IPO in a bear market, and I believe that we were still in a bullmark. I still believe we're in a bull market. I know somebody're gonna think I'm crazy, but I'm looking
at the charts and I don't see the major invalidation. Now, things could escalate further, and that's what we don't know, right. Are we near the bottom or things could get even worse that could take us out of the bullmarket. Absolutely, I'm open minded. I'm not trying to be some sort of permeable here, and I look at the data. But based on the data, based on whale activity and some of the key support levels that bitcoin still holds, I
think we're still in a bull market. I think sentiment wise, And you're going to see a lot of comments saying I'm crazy, right, because people are going to get emotional.
How can we be in a bull market?
Look at what's happening, But they can't point you in the charts, They can't point you to the on chain data and the different metrics that have flagged the top in the past. They just operate by emotions. But that's not what I'm doing here. But I do believe in bull markets you have these severe pullbacks and crashes and
so forth. I've been here since twenty sixteen, so I've seen them, and you kind of have to pump the brakes if you're looking to do anything major in a major announcement, and wait until we find the bottom and we start balancing and showing some strength to move to
higher highs. But it's going to be a process. Hopefully we see some sort of v shape recovery soon, and I think some of these companies that were looking to do IPOs they probably have to push it to the latter half of the year, as you know, the market and people get more confident again, and guys, you know, to come out of this, I honestly think it's gonna have to be quantitative easy. There's gonna have to be some sort of stimulus or bailouts for some industries if
these tariffs are to stay in place. So we shall see. But just want to let you guys know, right I want to be fair and transparent with you guys that this is what I'm thinking, this is what I'm seeing, is what I'm hearing, and Circle looks like they're going to push back their IPO. So guys, let me know what you think. Leave your thoughts and comments below hit the thumbs up button. A great way you can support the podcast is by subscribing to my free email newsletter.
It's one hundred percent free. Link will being a description. Check out my book on Amazon it's available in paperback digital, and my new course at Mycrypto course dot com. This is a comprehensive course that helps you to learn about every aspect of crypto. Knowledge is power, so check it out at mycryptocurse dot com. Guys, thank you for watching and listening. I appreciate you all and I'll talk to you all later