← CRYPTO 101
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- [00:00]
TiVo
Foreign.
- [00:10]
Brian
Welcome back to your weekly crypto rundown where we talk about everything that's going on in the great world of cryptocurrency and blockchain technology, from the fundamentals in the news to the technicals on the charts. We spend the time doing hours of research so that you all don't have to and we bring it to you completely for free in under an hour. So welcome back. We're stoked to have all of you here today. We got a lot to talk about as bitcoin is pushing back up to all time highs. Altcoins are rallying right alongside it. We are having tons of these treasury companies come out of the woodworks. New ones are forming, old ones are buying more bitcoin and we are seeing hundreds of millions, in fact billions of dollars be accumulated to these treasuries just in recent days. Now the whole stablecoin boom through the genius bill has been monumentally successful and we're actually seeing the effect that this is already having on banks and some of these typical credit card processors and providers. We're going to talk a little bit more about that, that impact in the whole space, especially as it regards this circle ipo. JPAL is talking about crypto in the future of what you know, the crypto market looks like. The CEO and founder of Robinhood, Vlad, is going to be talking about the crypto markets and the effect on traditional finance. We even have information that bitcoin and crypto could be used for mortgages in the US Moving forward. And I got a nice little surprise at the end. So buckle up. We got another awesome episode in store for all of you. And of course I can't do this without my good old compadre and partner on these rundowns and a birthday boy, Mr. T. Bell.
- [01:53]
TiVo
Thank you, Brian. Yes. You can't do the rundown without me and I wouldn't want you to. I love it so much that I am on a, I'm on a little, call it a vacation. But I can't vacation from the rundown. I love it too much. We're live here in Dewey beach, famous Dewey Beach, Delaware. Shout out. It's a, it's a niche, niche part of the east coast beach town culture, but it is, it is a gem nonetheless. So, so shout out to Dewey Beach. Couldn't miss this episode because once again, like we say every week we have quite the rundown to go. A lot of news just all over the place, honestly, for everywhere from the crypto markets to obviously sailors in the news. And like you said tradfi kind of creeping in. We got a cool thumbnail kind of showing that intersection of Wall street and crypto and how it's never been hotter. So let's, let's dive into it.
- [02:39]
Brian
Yeah, well we appreciate you being here even on vacation and everything else. And yeah, I mean let's dive into it here because bitcoin and everything is rallying. I actually saw that NASDAQ hit a new all time high yesterday. TiVo. And Bitcoin is pushing right up aggressively now. Bitcoin's already made a new all time high a little bit earlier this year, about a month ago when it hit 112,000. So it was the first of a lot of these major asset classes and a lot of those risk on leaders. Bitcoin was the first to hit a new all time high. And now we're starting to see the tradfi markets a trail behind it and do the same. And bitcoin is having a fantastic run off the lows. I mean this thing bounced off of K and we'll put the charts up here so everyone can see it. Bitcoin bounced off of K Sunday night and since then we have seen it rally from 98k to 108k. I mean we've had a 10% rally in the price dollar rally in the price action of bitcoin and this thing is booming back to the upside and we have altcoins moving right alongside with it. So let me throw up this screen share and I'll let all of you see exactly what I am talking about as well because this is what that looks like on the daily chart. Now we've used 100k as a big area of support. We've come down here once, we've bounced off of it, we've come down here twice, we bounced off of it, we came down a third time, briefly wicked below it, but closed both candles, all the candles above 100k. Once again, did you know your credit.
- [04:11]
TiVo
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- [07:05]
Brian
Now what this means is that this is very clearly being used as a very strong support level. Buyers are so eager, they're so excited to get their hands on bitcoin under this price point that they are buying it up aggressively. So they're saying, hey, we know it was only down here very, very briefly. However, for the short time that it was there, people were fighting over each other to try to get their bids in and their buys in. And this has sent the price aggressively back to the upside, which is what we are seeing over here. Now. I like this. We closed above the 200 day moving average down here last week. We talked about this big volume point of control that we had on bitcoin as well. We add this up, we closed above this on the candle chart. I'm going to make it a little bit tighter so that we can see it. But if we let this load, we bounced right off of this, closed above this, use that as support. I think a lot of the metrics that we need to look at down here, over here are good. We're saying we bounced off of the 100k level, the 200 day moving average and the volume point of control from this overall consolidation range of the last year, roughly speaking. And we bounced off all these levels. So technically speaking, bitcoin looks good. It's pushing back to the upside now. We're still going to have our up and down candles. That's just bound to happen. Right? But again, the overall picture here looks good. I see a lot of people talking about doom and gloom and sub 100k again and all this stuff. It looks like the unlikely scenario to me. And when you go and when you look at what a lot of these other altcoins are doing over here, they're doing pretty well. Aerodrome here still holding strong, rallying in recent days, making a double digit move back to the 200 day moving average. You can look at hype pushing back up here again. Another double digit move where this thing's up 23% in the last couple of days. We're seeing a lot of these other altcoins, you know, maker do something similar where this is up, you know, almost 18% in the last couple of days. You go and look at syrup, I mean syrup, TiVo looks like it doesn't care. It doesn't care what's going on in the market. A dip happens. Oh, it's at all time highs three days later. Now it's well above all time highs four days later. And this is one that we've talked on the podcast. We've had them onto the podcast multiple times. I think we've had them on summits. I know we've talked about them here in the community. We've talked about them on the crypto rundown. And we like to talk about, like, where the real alpha is in the space. We like to look at these winners and how they're running another one. SPX performing beautifully off these lows. Already up 42% since its low from Sunday night in just a couple of days. So when we're looking at the altcoin market, is everything kind of pushing back up 20, 30, 40, 50%? Not everything, but a lot of altcoins are. And I think that if you aren't seeing that, then you're not looking in the right places at this time because there's a lot of big winners out there. And we like to see altcoins perform. So, I mean, overall, I see the space from a trading lens. TiVo. I know you see it through like a social and a media and a little bit of a different lens sometimes. But from my side, just looking at the charts, like, I like what we're seeing. I think things look good. I think they look healthy.
- [10:26]
TiVo
Yeah, I couldn't agree more. And I'm actually working, trying to get Sarah back on the program. So look out for that. Hopefully we can get them back on. I, I think we, we have a good shot. So that'll be exciting because I know that we basically had them on when doing the spin off of syrup from maple and yeah, what a, what a wild success if you bought that dip, which I know that, you know, we talked about, obviously on the pod of given the general information, I know inside the community, kind of during that downtrend of, you know, Liberation Day, you know, that was something that you specifically and I know Bryce were very excited about gobbling up, so might have tailed you on that one and have a nice. Not, not enough, obviously, but a nice little bag of serap tokens. So here's, here's kind of again what you're saying. I look at the markets differently and we're clamoring for altcoin season and where is it? And everybody's like, wait, an altcoin season. Altcoin season. I kind of have a little bit of a hot Take that. We could volley for a second. We are kind of like altcoin season's kind of been here and, and it's queuing back off kind of tailing. What you just said is you got to know where to look. And you know, I know you've had awesome winners, you know, and kind of whether it's trading or options or leverage with you know, some defi and, and you know, Aerodrome's been, been a huge kind of winner for the team. Syrup. There's a couple other coins, like fart coin has just had amazing momentum in the last six months and then you kind of, kind of going to transition us, I guess into the next topic of like go look at the IPO market, like Circle. Circle. Circle's acting like an altcoin. So you know, and this is, this is again, it's on the same plane of tradfi wanting exposure to the crypto markets. We can, you know, so what do we got there, Brendan? Give us the percentage.
- [12:10]
Brian
I mean it rallied from its IPO price of just over 30 bucks up to 300 bucks. That's essentially a 10x move, almost a 900% move to the upside in less than a two week window.
- [12:26]
TiVo
So we had a great discussion with Brian and Joe and kind of how the IPO process worked of how you could get a slither, a sliver of, of circle in the IPO markets via the Robinhood app. And some people were upset because they didn't get their price build and they didn't get the action. But it was available to everybody. Brendan's raised his hand. It was available to everybody, you know, when it went live. And I think this just shows you the institutional demand for crypto native products. And I think, and again it's, it's bitcoin since that ETF got launched. We've seen, we've talked about the flows into Ethereum recently. And so again, I know it's not history history usually it doesn't necessarily repeat, but it rhymes is a famous, you know, old saying. And so I think there's a lot of people here that are and myself included, right. I still have tons of tons of exposure to altcoins where I'm just not seeing the gains that I want. But again, like you said, if you know where to look and you're kind of staying on top of it and it's stuff that I know we're talking about on the podcast, also talking about in the community literally every week on the coaching calls, we're trying to find those pockets of alpha they're, they're out there. They're. They're totally out there. So again, it's kind of goes back to. As the podcast producer. I see our numbers and I get really excited when our numbers go up, when the, when the prices are rallying and everybody's winning. That's when everybody comes and floods to us for what do we buy next? What do we buy next? It's like these are the times kind of in that sideways range for bitcoin and we have some popcorn altcoins going on and off that dude. That's where you find the alpha. That's where you, that's where you find your big winners when, when the crowds aren't here. So I still think there's time to kind of parse through kind of the markets here and find huge winners for, for that next leg up.
- [14:09]
Brian
Yeah, I think that there's, there's two points that I want to make, but before that, number one, I think all quint season has started. I wouldn't say that it's in full heat, like maximum impact and effectiveness. I don't think we're at the pinnacle vault season, but I do think that it has begun. The two things that I want to talk about here is, number one, people are frustrated and upset and they might not feel that way because either point, number one, it's not every single altcoin moving and rallying. News flash for you. There is, I think, 17 million plus cryptocurrencies out there. We're no longer at a stage of the market where every single altcoin is going to rally. There are just too many. It's not 2017 anymore. It's not 2018, it's not 2020 or 2021, but we're in 2025. We're several market cycles after a lot of that price action that has happened where every single altcoin can rally together. There's not hundreds of altcoins anymore. There's not thousands of altcoins anymore. There are tens of millions of altcoins that are out there and it's too big for every single one to succeed in a given market cycle or at a given point in time. The second thing here is that I think people are frustrated that these altcoin runs are not more extended. They want them to last a year. They want them the last two years. They want them the last, like a heavy extended period of time, maybe 6, 12, 18, 24 months. And that's not what we're seeing. We're seeing these fantastic rallies and Altcoins off of lows, they've always been historically volatile, but maybe the runs last a few weeks, maybe they last a few months. And then you have these moves of 2, 3, 4, 500 plus percent and they're happening in a very, very short window. You know we have Circle, which is an IPO on the trading market representing stablecoins. This did 900% in around two to three weeks. You could go and look at a lot of these other coins, right, like spx which has done, I don't know what this is. I would say around 500% off the top of my head, about 400% or even more than that I guess if we measure even lower, but around 600% in about a three month window. And so people, it's not that these gains aren't happening, but I think that it's not happening to all cryptocurrencies, to all altcoins and it's not lasting like a year or two years at a time. And I think that's why people are frustrated with altcoins, which is understandable. However, the landscape is changing and I think you have to be versatile and what that means is you have to be more picky about what you get yourself into and you have to be more cognizant when you're looking to take profits. That's where a lot of people have been going wrong. It's not that they haven't been buying at the right times, it's that they haven't been exiting at all. Almost. I was going to say they haven't been exiting at the right times, but I'd say the average investor isn't exiting positions at all here. And listen, I'm a little bit more of a trader. That's how I view things. Ativo, I know you like to trade too. We both are constantly going back and forth about it, but taking profits and mitigating risk here is an essential part of this and it has to be one of the most overlooked segments or like factors in the crypto market at this given moment.
- [17:27]
TiVo
I, I could agree more and I think you have your, your trading course, the, the Micro Born where you kind of teach people about trading and it's stuff that they could do in the traditional markets or the crypto markets. But specifically for the crypto markets I'm those people like hand up what you just said was, you know how I kind of did crypto when I first started, especially five, six, seven years ago, was like you just kind of pick a basket of projects you like and you're, you're kind of waiting for, for that kind of basket for 1, 2, 3, hopefully 4, 4 of them to be in that top 20 or top 50. And you just ride it all the way up and you either have these huge winners or just absolute losers. And it's, it seems kind of, that's definitely not the strategy to be doing today. And I've learned and I've grown again, I'm not going to say I was ahead of the curve and timed it perfectly. You know, I definitely have. During the volatility of like the last year plus, and we've talked about this before, of like these, these random drawdowns from all last August with the Nakai trade or the election volatility. It was a great time to kind of pick and choose like where you really wanted your capital to be. And, and you didn't need to be spread out across 30, 40 different crypto projects. Right. You wanted to tighten it up and be like, okay, let's do the research. Like, there's this new wave of regulation coming. Who are going to be the winners? Like, where, where is the puck going? Instead of like, hey, back in the day there's so many winners, everybody's a winner. Like, you just got to get in the game type of thing. So I couldn't agree more with you. And I think that's kind of the fun part of doing this pod over years is that, you know, we grow and that's kind of, we're, we're all learning in real time and that's why we, we kind of do this and try to share with you, is just give you guys where, where our thoughts are.
- [19:09]
Brian
Yeah, well, I mean, let's continue on this theme of like the crypto market being hot and the growth of what we've seen with Circle and IPOs and like, specifically the stablecoin market has had a huge impact. And I'll pass the screen share back to you unless you need me to do it today. TiVo. Oh, gotcha. But yeah, I mean, let's put this up on the screen. MasterCard taps chainlink to provide direct on chain fiat to crypto conversions for cardholders. Now, MasterCard has been trying to dig their feet. MasterCard and banks, they've, they've both been trying to dig their feet into the crypto markets here. And I think that they are now being forced, when I say they, I mean these, these card holders, these credit card companies, These payment processors, MasterCard and Visa are being forced at this point to double down on crypto and Expand rapidly. Why? Because of the Genius act, because of what that does for stablecoin legislation. We talked last week about how we are seeing JP Morgan, bank of, American, bank of America, Walmart, I think Amazon, there was another big bank that was thrown in there, all talking about how they're all looking to develop their own stablecoins. Now what this means is this directly affects Visa and MasterCard. And I'm gonna throw back up a chart here T val to kind of just show what these two players have been doing. They've been tanking off of this news. They have not been handling it well because people know that it's a real threat to what they do and their whole business model. So let's just look at a chart here and again a quick reminder that if you're not watching on YouTube then you're not gonna be able to see the charts and the news articles that we are referencing on the screen. So head over to the Crypto 101 podcast over on YouTube and check us out there. But here you can see, I mean this is when it all started to happen and heat up around the start of June. I was climbing, they didn't really understand the threat and then more and more came out and they're like oh no. And shareholders, I mean they dumped this thing off 11% and for an equity of this size it's a pretty big deal. I mean it's, it was like a 700 plus billion dollar market cap company. It's huge. And for them to lose 11% in like two weeks is a pretty big deal. So they lost a lot here. And then you can look at MasterCard and you can see the same thing that was happening. Oops. And that was the wrong one. And if we look at MasterCard, exact same thing, right around the middle part of June, early mid June, this thing started pulling back again about 11, 11 and a half percent. And when you're looking at these companies that are worth 5, 6, $700 billion, that's a pretty big hit for, for them to lose 50, 100/billion dollars in market cap. They view stablecoins as a credible threat or risk to their business model. And now as TiVo just showed on the stream, they're trying to get back into this stuff. They're trying to get plugged in. And this is really, really telling of where the crypto industry is at. So last week we talked about how all the banks and the tri companies were trying to develop their own cryptos and stablecoins. On this week's rundown we're saying these existing companies that haven't fully integrated and adopted this stuff, they are now tanking in shareholder value because they don't have enough exposure and options available in this space. And there's a credible threat to their business model and to their revenue. And so they're being forced to join in. And we're only really at the start of this because it's all rather new when it comes to the Genius act. And you know, this new crypto regulation that we're seeing, that's all pretty new within the last couple of months. And so I think that we're going to see a lot more of this happen in the coming years and we'll have to see what happens to, to the adoption curve. But, you know, I stand with it. I'm someone that says, you know, we look at this stuff and I think any one area of the crypto space benefiting, I think benefits everything. Now it's not always going to be like a one to one beneficial ratio or something like that, but I do see the success of one area of crypto overall being a positive catalyst for the rest of crypto. And what I think, you know, we're both seeing here now, TiVo, is that everyone wants a bitcoin treasury, everyone wants a crypto treasury, everyone wants to get their hands on this. And that's why we're seeing this explosion over on that front.
- [23:54]
TiVo
Yeah, couldn't agree more. And I think again, pure speculation here. But where, you know, when Visa and MasterCard, you know, like you said, huge market cap companies, when they drop like that money's being taken out. Where, where's that money flowing? Speculation? Of course, I do not truly know, but you gotta look at Circle up, you know, 900%. So it's, it's trying to figure out, you know, where the puck is going. And I saw this week on, you know, the morning shows, the Fox business, the, the CNBCs, the CEO of Visa was doing like a merry go round of press talking about how they like, oh no, stable coins are part of our future at Visa, we're the most trusted company that have the infrastructure for credit card purchases. And you know, don't worry about us, we are, you know, totally on the forefront of this and working on it. I, I believe them to a, to a, to a. You know, part of me, part of me believes them, but part of me also thinks like a lot of these guys are getting caught off sides a little bit with like, you know, being behind the curve a little bit. Because the circle thing Is is crazy. And I think it's showcasing that, you know, just the absolute hockey stick of a ride up is kind of showcasing that none of these companies, the visa, the MasterCards have been, if they are working on it, they definitely haven't been promoting it. And then the Genius act is obviously the catalyst of, of that credit to us because you're not going to find a lot of coverage on the Genius act on a lot of different finance shows and definitely the news. So, you know, that's why you're in the right place. But great transition into kind of the treasuries, right? It's the hottest topic right now. And pop, like pop is even getting in the game. Right. So I know you saw this. Of launching a billion dollar merger to create Pro Cap Financial, a bitcoin native financial services. Again, this is something that Sailor kind of pioneered. Right. And, and the coolest thing, the most interesting thing I guess is like when these people announce these bitcoin treasuries like sailors in the comments saying congratulations, you know, rooting for you. So what are your thoughts on Pomp and kind of the broader, you know, the broader momentum around this type of business deal?
- [25:56]
Brian
Yeah, I mean it's telling. It's like we said earlier, they see where the puck is going, they want to go there. And I think the easiest way for these people to do it in a trusted manner is to get their hands on bitcoin, to have some sort of exposure to bitcoin. If they are just like the average group and they're not going to be providing stablecoin structure or something like that, I think the easiest way is to just own bitcoin. It's the most trusted, it's the easiest, it's the simplest. All the above. And so POMP has been doing this and they, I saw actually this morning they were adding more bitcoin to their balance sheet. And that just came out earlier like, like an hour or so ago before. We're recording this on Wednesday around 10 to 11am now on top of this, you know, they're not alone in accumulating and getting this billion dollar valuation at A planet came out and I saw that they bought one or no, it was 11,111 Bitcoin I think. And we'll put that up on the screen. Worth $1.1 billion or excuse me, they now hold or yeah, I think that says that they now hold $1.1 billion. So I said that wrong to begin with. They bought 1,111. They now hold 11,111. It's a little bit of a tongue twister but they added 111 million to their balance sheet. They now have $1.1 billion in Bitcoin. So they're saying, hey, this dip that we saw, they view it as a buying opportunity. So they got their hands on more. They're not alone. Guess who else bought more? Michael Saylor. He decided I'm going to go out and buy more. Doing his nor normal thing, adding more dots to his chart. That's kind of his whole spiel. And he went out and he accumulated some more bitcoin as well. Now his average price on this you can see is right around $105,000, which means he's sitting in profit. They bought another $26 million worth of Bitcoin, which is around 245 Bitcoin. And they're increasing their overall exposure here, which at this point they just have so much. They're one of the largest holders of bitcoin and they now hold over 592,000 Bitcoin which is honestly insane. It's honestly insane. Tebow, how much bitcoin? I mean almost 600,000 bitcoin. And you have to think there will ever only be 21 million. Several million have been lost. Several more million are tucked away and never going to move for or they're not going to move for a very long time. And here they are at 600,000 bitcoin. That's a huge part of the supply. And this is another group that says we're not selling, we're holding onto this thing. This is a call to the leaders who want to redefine their impact. Tackle our world's greatest challenges with a powerful network of global business leaders at MIT Sloan School of Management.
- [28:59]
TiVo
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- [29:58]
Brian
And I'll tell you what, we're going to talk about this a little bit later on. They really don't have a reason to sell. It looks as if Bitcoin is going to be able to be fully used as collateral on different kinds of loans. So all they have to do is hold their Bitcoin, then they can borrow against it in a tradfi manner now and do whatever they want to do. Why would they go through the process of selling it if they don't need to, you know?
- [30:26]
TiVo
Yeah. So the regulation is just so much bullish momentum around the regulation, around bitcoin and crypto as a whole. And we're going to cover that, cover that later. But it's. It's almost like it's not just. It's not just bitcoin. That's. That's the exciting part about crypto. Right? Like, we've seen companies talk about the Ethereum Treasury. We know that there's the Solana Soul Strategies. We've had them on the podcast. Awesome discussion about kind of our treasury and Tron xrp. We talked about those last couple weeks. We have a new one. We have a new one. Brendan, I want to hear your thoughts on Nano Labs doing a convertible note for the BNB Treasury.
- [31:07]
Brian
I feel like we're on the Oprah Show. You get a Treasury and you get a Treasury and you get a Treasury. Everyone gets a Treasury now. Everyone. Like, I saw all these meme. I didn't even bother putting it in the outline TiVo, but I saw all these meme coins now are getting Treasuries. And one of them was like, it was some smaller, like, car or automotive company and they were like, we're gonna start a dog with hat treasury or something like that. And it's just funny that we have all these different kinds of Treasuries coming out and becoming normal. But again, I think it's telling of where the crypto era is heading, where the whole crypto industry is heading. Everyone sees the puck moving in this direction and maybe they want to be cool, maybe they want to stand out. Maybe they truly believe in one of these other projects, which we love, Altcoins. Right. I like a lot of those that we mentioned, but people are trying to take a different approach to this and now they're starting all these other treasuries for BNB xrp Tron, Solana, Ethereum, like you name it, they're just popping up left and right and BNB is the next on the list. So this really does fit the theme that we talked about about a week ago where we said there's all these other altcoin ETFs on the way. Now we have all these other altcoin Treasuries on the way. And again, signaling stuff's happening in the background. I know we kind of talk about this altcoin season heating up, but if these Treasuries get rolling and these ETFs get rolling, it makes me think that, like, these could be catalysts to kind of push us into high gear.
- [32:42]
TiVo
Yeah. And it's not happening under the hood, as they say, in like a car, like the action happens under the hood. I mean, this is, this is out there. It's not just, you know, the blogs and the, the smaller shows and talking about it. And this is out there. And they kind of transition us into, into Fed Chair Pal. So Fed Chair Pal was, was testifying the last couple days on a variety, a variety of topics, but crypto came up and he was talking about, you know, how banks are free to conduct crypto activities. So I think, you know, for somebody that's so important in the financial infrastructure and pathway of our country, which is clearly the most powerful and richest country in the world, when he talks about stuff, it's important to listen. You could disagree, agree, whatever, but you got to tune in when this guy talks. So let's listen to Fed Chair Powell here talk about how banks are free to conduct crypto activities, that banks get to decide who their customers are. That's not our decision. And so banks are free to provide banking services to crypto, the crypto industry to crypto companies. And banks are also free to conduct crypto activities as long as they do so in a way that is, you know, protective of safety and soundness. And you pair that with the genius act and then I'll share this tab. It wasn't on our sheet either, but like, you know, JP Morgan partners with Coinbase to launch deposit tokens for institutional clients. You know, I wonder what fun name they're going to call that. Tech Rock, right? Jamie diamond just, you know, always do, do as Jamie does. Not as he says. But again, the momentum clearly, clearly is there for the regulation of the banks. And this is, this is the big money. It's like, be careful what you wish for in a way, because this is what the crypto industry I was always wishing for we went big money to get into the game and we beat them there. But you know, when these guys get into the game, it, it's going to change it. And that's kind of, you know, building off of the opening segment that we led with is, you know, it's still here, the opportunities are still there. You just got to look at it with a different lens and keep researching and stay up to date and, and figure out, you know, your strategy and how it can evolve with the evolving landscape of our industry.
- [34:47]
Brian
Yeah, I did see some members from the Fed saying that rate cuts could come as soon as July. We'll see if that actually happens. I know that part of the reason that he was in that, in that meeting is that they were concerned as to why we haven't seen rate cuts so far. We've talked about this, we've thrown like a little bit of banter around this topic, but I think it is getting to a point where it's like a genuine question, especially like when we cut rates last year at what I would say is a much more inconvenient point than where we're at right now. And there's questioning as to like why that was the case. I don't know. You know, we're going to find out. But like, the point that I'm trying to make here is it looks like these rate cuts are going to come sooner rather than later. It looks like we could see them as early as July.
- [35:30]
TiVo
Yeah, he said this is a, I think from yesterday's testimony, the number one quote that I got out of it was he literally said, he's like, hey, if tariffs weren't on the table, we probably would have cut by now and are continued the cutting from the last, last time they cut right before the election. So yeah, I mean it is interesting. Like they say they're data dependent and so that's a backward looking, like the Fed's backward looking. And then now with terrorists, all of a sudden they want to be forward looking and, but, oh, well, we don't know, like we don't know what the data is going to say. Whereas, you know, where we are today. Like you said, it's like they already cut but inflation's lower than it was. So the, the new at least neutral level would be lower than where we are in theory. So it's interesting because there's a lot of people smarter, there's a lot of people smarter than me that are, you know, economists on even both sides of the aisle. Now it's starting to get a little Heated where, you know, pals kind of feeling it for both sides of the aisle in that, in that testimony. Definitely something to watch. And yeah, I think cuts are definitely closer than farther away at this point.
- [36:32]
Brian
Yeah. And we've said this, but if we start getting rate cuts, it's historically been a very positive thing for the crypto market. So we want to see these bad and we're biased. Right. I'm not going to say here, oh, I'm some unbiased warrior in this regard. No, I'm, I'm biased. I want to see rate cuts. It will be good or it should be extremely good and healthy for the crypto market to shoot us upwards. So call me by say whatever you want. I hold a lot of crypto. We wouldn't be doing this if I wasn't pretty passionate about crypto in the first. But I want to see rate cuts, I want to see prices soar, I want to see new all time highs. I want to see it. T and J. Pal is the man that is putting up the roadblocks and keeping me from it. But we've been patiently waiting and I hope we see him in July. I'd be a big fan of that. And the reason why I bring this up is because again, maybe we'll come back and we'll clip this at a future point, but if we get rate cuts, mark my words, that will be an extremely bullish catalyst for the crypto market. And I think we could see things rally up to the upside. And we're going to look back at a point like this before when they're showing indications that they could be cutting in the future. We're going to be like, man, the signs were on the wall, the writing was on the wall. It was so obvious. And a lot of people are going to look back to a time like this and realize that they missed it.
- [37:43]
TiVo
Yeah. And again, I know, again, building off your complete biases, which we are in the crypto industry. Crypto is the future. Crypto is here. And again, the thumbnail and the title is there's this intersection of Wall street and crypto right now that you'd have to be living under a rock not to see. I think obviously a huge fan of Robinhood the stock. And we've had again, Robin Hood on many times for people who are new listeners, we've had Robinhood crypto on. But you know, Vlad is slowly growing Robinhood and, and over the years, I guess fast recently, but over the years slowly basically inserting themselves into the kind of up and coming financial institution. And he's, he really does have vision of you know, the UI UX is undeniable. The gold program, the credit cards, the crypto, the standing up Robinhood crypto, they recently announced they're getting into mortgages. And I think I say all that because again mortgages traditionally, and we're going to talk about this into the show had nothing to do with crypto at all but that, that's going to be changing I think in the future. So I just thought there was this, there's a minute clip here of, of Vlad on, on TV that I just thought was, was a powerful quote and kind of summarizes the, summarizes the topic of today's episode of how crypto is here and it's, it's replacing and it has the ability to replace institutional finance on, on many different levels. Let's check out Vlad here. I do think that crypto itself, there's.
- [39:11]
Brian
Two ways to look at it.
- [39:12]
TiVo
One is a tradable asset like options, futures, equities. The other is as a fundamental underlying technology. Right.
- [39:21]
Brian
And in, in the second lens it's the next stage in evolution. We've gone from you know, paper and pencil, filing cabinet based financial services to mainframe to on premise and then more recently cloud.
- [39:35]
TiVo
Now crypto is the next stage in that where a lot of the business.
- [39:39]
Brian
Logic that we've required businesses to actually build is now shared infrastructure. So exchanges, lending pools, payment processors, all these things are replaced by software.
- [39:51]
TiVo
So I think in the future crypto.
- [39:52]
Brian
Technology will power trading and all sorts.
- [39:56]
TiVo
Of financial services including trading in stocks.
- [39:59]
Brian
And other tradfi assets. So the two will fully merge.
- [40:04]
TiVo
I do think that. So that's a great summary. Not much to add there other than I know on June 30, so Monday I believe Robin is going to be live at ecc, I believe it's called. So it's some Ethereum conference over in Europe and they have a big announcement. They have a time slot on a stage, they've been promoting it. So something with Ethereum times with Robinhood is going to be announced. Tokenization of stocks is kind of what I'm seeing is, is something that could possibly be there. Seen that on the Reddit pages and just you know, on the timeline I have no inside information of anything that might or may not be announced, but definitely something that we'll tune into next Monday and then yeah, we'll get an episode out to everybody before the fourth of July holiday. So something to put a pin in and we'll circle Back on next week. But what do you think of Crypto's the future, Brennan? Really? Really? The title of this episode, right in the intersection of Main Street, Wall street, and Crypto is here.
- [40:57]
Brian
Yeah, I mean, I'm pretty bullish. I would imagine that there's going to be some big things announced there from the way that it has been set up so far. And I want to be long. You know, I'm long ethereum, I'm long hood. I like what they're doing, and I like the way that they've been treating the crypto market, and it's obviously treated them very well in response. And so there's this mutually beneficial relationship between what Robinhood is doing and what Crypto is doing, and the two are complimenting one another in a really good way. And it looks like those ties are only going to get deeper. And I think that they've also set the standard for how Trad Fi and Defi should merge, and they've done a great job in doing it so far. So keep an eye out for that event. I know I'm going to be watching it, the entirety of it, from start to finish, and we got it coming up here in just a few days on Monday.
- [41:42]
TiVo
Yeah. And one of those industries that, again, crypto is going to start crawling into that we mentioned this episode is mortgages. And so I know a bunch of different companies have talked about kind of that Bitcoin treasury approach of lining up maybe bitcoin against a mortgage. Could it replace, like. And I know one idea is like, could it replace mortgage insurance? So if you don't put. I believe the number's 20%. Like, if you don't put 20% down on a home, you have to buy mortgage insurance for a certain amount of time, and that's like an extra payment. But if maybe instead of mortgage insurance, could you put up some Bitcoin as collateral to kind of replace that? And so it's basically would be amazing because you could replace just an absolute fixed cost of insurance with some type of collateral that could actually appreciate. Right. So I'm going to share or I am sharing this. This tab. So this is. This is faulty. So let me go to his account. But we will study the usage of cryptocurrency holdings as it relates to qualifying for mortgages. So you're thinking like, oh, this is just a random tweet. A tweet. But he's the U.S. director of Federal Housing. So again, people in the government building off the genius act, where can we go? What can we do. And again, all these businesses and people that want to use this stuff, you have to believe and understand that this is a for profit industry. There's going to be companies that are going to try and sell you things that are, they're going to make profit. But is it a better mousetrap? Is it something that's going to kind of catapult the industry forward? And I just think it's fascinating again when you have. Mr. Polta, here is the US Director of Federal Housing engaging with Michael Saylor tweets, engaging with Pomp tweets about how, you know, again, off the tailwinds of the genius act, it's, it's a hot topic now and it is very political. And I think now's a great time to kind of, you know, parse through politically, like, well, who has your best interest in trying to push things forward? Because everybody always has an angle. So. And that's what we try to do here. We try to bring you the, the best of everything that we're kind of seeing in, in the news and in the markets. But I know me and you both would, would benefit greatly for some type of mortgage product that is, you know, crypto focused or bitcoin focused to really, again, unlock capital, to be able to get this type of capital, you know, as, as more of an asset and less of banks looking at it as a liability.
- [44:06]
Brian
Yeah, definitely, man. And this is what, this is where I see the industry moving kind of going forward. If you look at the tradfi markets, and I talked to Bryce about this, but if you look at the tradfi markets, people constantly build these big stock and equity portfolios and then they borrow against them so that they don't have to sell off. What that means is that if they have this portfolio that they've grown to be $100,000, $1,000,000, $10,000,000, whatever it is, what they can do is they can hold those assets, they don't have to sell them, they just put them up as collateral, borrow against them, and then that prevents them having to sell, get taxed on it, go through the whole process, then applying for a new mortgage with the money that they've pulled out. All that they do is they go and say, hey, I would like to borrow against my collateral. They'll put it there, they'll put it up, and then they do it. And there's no reason why we want to be, or we shouldn't be able to do that against bitcoin as well. I think that that's kind of the Next stage that we move here and we've already seen it done for years. People love to do it. I'm a fan of that method and I think that it's only a matter of time before we see that become more and more normal.
- [45:13]
TiVo
Yeah, it's, there's so many things and products and Treasuries and I personally just would love to see the scalability of mortgages with, with bitcoin and crypto. And if anybody's going to be at the forefront of it, my bet would be, would be Robin Hood, honestly, because I know they just launched a mortgage product for their gold members where they're trying to cut rates for you kind of like a buyer. If anybody's ever bought a home, like a new home, you go to KD Homes or Toll Brothers. If you go to the buyer, they might be able to buy your rate down. That's what Robinhood's doing for mortgages. So obviously also sorry for this. Robinhood ran again. I know I'm, I get on them sometimes but I believe they're doing something now for their gold members as well where like you can trans. They're giving 2% bonuses for transferring your crypto. I think it's a guaranteed, it's guaranteed 1% and then they set a goal for like the community. So if they, if, if $500 million or more gets transferred then they'll up it to 2%. So 1% unlimited bonus to transfer crypto to Robinhood. And they did that brokerage wise too. And then I think they're, they're trying to do it for crypto now and then possibly for 2%. So something to watch if you have a gold subscription there, definitely check that out again. You just, you can kind of see the momentum of, of where these forward looking companies are going. Robin Hood in my mind's in the front but the other ones are going to start going like I showed the JP Morgan tweet, Goldman Sachs, all these other legacy ones just like Visa and MasterCard which we mentioned the beginning in the, in the payment space they're going to see that they're a little off sides, a little behind and they're going to look around and they're going to see Fed Chair Pal saying that they're going to learn what the genius act is or they already have learned in a way and then there's going to be innovation coming. So I just think it's a really exciting time. And the summary of the show was Wall street and crypto and then kind of the, the kind of how we look at the markets, of trying to figure out where the puck is going. And I think that's. That's the storyline for the rest of this year and next is the game's changed, but that doesn't mean you're out of it. You just got to refocus and kind of re. Take. Take. Take a minute and kind of re. Strategize of how you're looking at the crypto markets.
- [47:18]
Brian
It's spot on, man. Well, as we kind of continue to move forward here, there's one last thing that we want to talk about. And thivo. I think it's pretty funny. Pudgy Penguin.
- [47:27]
TiVo
Yeah, I mean, if. If you want to say that crypto is here, if you want to say that crypto is on Wall street, people are going to say, no, it's not. It's too much. Crypto is fugazi. It's fugazi. Well, take a look at this. Pudgy Penguin rang the opening bell for the nasdaq. Just an unbelievable accomplishment for the crypto space. I mean, it's. The frontier of the world is ringing the bell for the financial world. Frontier of the financial world is ringing the bell. The frontier for the financial technology world is ringing the bell at the nasdaq. And there is Pudgy Penguin. Penguin at the NASDAQ alongside Vaneck. We must. We definitely have to throw that out there. So Pudgy Penguin was brought down there. I'll scroll down so you can see Advaneck. Great marketing move by Vanek to bring along Pudgy Penguin. I know Joe. You know, Joe from our meme coin episodes was early, early, early to Punji Penguins and has some bullish thoughts around Pengu. Their. Their token as well. But if. If we couldn't convince you for the first 45 minutes that crypto and Wall street have intersected, this is the last thing that I could try to show you for you to believe us. A meme coin ringing the bell. The opening bell for the nasdaq. So if that doesn't get you excited, then I don't know what will. Brandon.
- [48:55]
Brian
Yeah. No, you. You're spot on, man. It's an exciting time to be here. It's funny that, you know, we're at a stage where pudgy penguins and their little plush doll is ringing the bell of. Of the NASDAQ and the New York Stock Exchange. It's pretty funny, but, man, we love to see it and we hope all of you enjoyed today's episode. We love bringing these to everyone we love talking about the markets, obviously. So all we ask over here is that if you like the content and you want to continue to watch, hit the like and subscribe button. You know, check us out on YouTube, Spotify, Apple Podcasts everywhere. We are doing these kind of updates every single week, in fact, multiple times a week on YouTube. And we have all sorts of other tutorials and podcasts that we're trying that we're constantly pumping out as well, completely for free. And of course we got lots of other places that you can get connected. You can go down to the description down below, check us out on some of our links over there. And that is going to go ahead and round us off. So thank you all for watching and we'll see all of you at the same time, same place next week.
- [50:09]
TiVo
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Brian
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TiVo
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Brian
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TiVo
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Brian
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TiVo
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Brian
I don't really have much in my purse. Oh, let's see. Hand sanitizer. It's lavender.
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TiVo
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Brian
Let me check this pocket. Oh, mints.
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TiVo
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Brian
Oh, I have raisins. I'm a mom. Wait, wait one sec. I've got cupcakes in the car.
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TiVo
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Brian
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TiVo
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Brian
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TiVo
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Brian
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Brian
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TiVo
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Brian
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