CRYPTO NEWS – US Crypto Regulations, SEC Ripple XRP, & El Salvador Volcano Bitcoin Mining
Talking about the need for crypto regulations, so i want to share the details there, because this is important were seeing more activity from congress to push for regulatory clarity, and this is going to the fed chair. So i think this is significant and of course, we know its important with regards to the sec and their lack of crypto regulations, gary gensers overreach, and we see the trouble hes causing with coinbase and different exchanges, stable coins and the ripple xrp lawsuit. Now, on the topic of ripple and the lawsuit uh, charles gasparino is going to have attorney john deaton on the show, so this lawsuit is getting more exposure. Guys – and you know john deatons going to bring the fire and the details here um. So i want to share the updates around that were also going to talk about el salvador. They just released a video showing the mining has started using volcanic energy. This is huge guys. This is huge, so i want to share that video with you and also theres a big update around uh, banking and and uh bitcoin as well in el salvador. We also have securitize the tokenization platform, launching a marketplace and many other big updates im gon na break. It all down for you guys before we do go ahead and hit the thumbs up button, leave a comment below and hit the subscribe button. If youre new here it helps support the channel and it doesnt cost you anything guys.
This video is brought to you by ok coin crypto exchange where you can buy, sell and trade. Your favorite cryptocurrencies and you dont have to pay high fees. Okay coin charges, low fees. You can also stake your crypto and keep 100 of the rewards. You dont have to pay uh any fees you keep all those crypto rewards that you stake and earn. Okay coin is the only exchange you can buy miami coin. In fact, theres a great promo happening now running until october, 7th buy 30 of miami coin and get 30 worth of usdt free money. So why not go and grab some miami coin and earn that uh nice reward there guys so sign up link in the description. Um earlier today, i uploaded my interview with halsey miner whos, an internet legend. This man founded cnet co, founded salesforce hes, the founder of uphold crypto exchange hes. He was here in the internet in the early days of the entire building. He worked with jeff bezos on some interesting projects before amazon guys he is a legend hes bullish on crypto, hes, uh, the founder of videocoin and hes. Doing some great things so be sure to check it out, uh its a great interview and its amazing to see uh these folks, who were internet entrepreneurs and pioneers and now into crypto that further validates the market and what is happening in this space. Guys all right lets take a look at the market here, not much happening as weve been talking about.
Wake me up when september ends, because we uh have seen historically september is not a good performing month for even stocks right, but let alone crypto. So our red candle is forming here as ive been saying for a long time. Im waiting for a bounce up, i think, maybe into early october, well start seeing some movement upward, but right now its just a waiting game and here plan, b, kind of double down on that um hes. The creator of the bitcoin stock to flow model, saying the following to be clear worst case flow slash floor model is not, i repeat, not based on the stock to flow. It is based on price and on chain data. Like i wrote in june in the june tweet june 20th tweet below so great that august closed above 47, 000 and september is now around forty three thousand dollars. But it says nothing about stock to flow stock to flow says approximately one hundred thousand dollars for now. So he was uh saying it back in june. That august will close around forty seven thousand september, forty three thousand so anticipating the pullback right, um and but october would close um around uh uh uh sixty three thousand dollars november. Ninety eight thousand dollars december 135. 000. Now is that a guarantee or a certainty? No, but based on the math right and the historical patterns and trends? This is what uh he came up with. Using that stop the flow model so uh.
We have to take it for what it is, but with a grain of salt there is a there is going to be a margin of error here. No one can accurately predict the future unless you have a time machine, so i do think bitcoin will hit six figures. Uh. Will it happen exactly in december or could it spill over to january thats? A possibility well just have to wait and see either way. Im prepared to cash out at certain prices to take profits and thats the same way. You should be looking at it and obviously weve seen as bitcoin pumps, alt follow, bitcoins lead and theres an alt season right where you can make uh. I think higher returns on all coins, so uh just be prepared and look at this point. If you want to step away from looking at the market because the red candles they did drop in price, gets you a bit worried or depressed? Do it right? You shouldnt, be looking at this stuff every single day. Take a break right. Go do other things, so its just some helpful tips that i personally learn um, even though i make content every day talking about the market, im also making sure that im using my mind, cutting off the prices, not looking at the prices going to do things go For a walk, go out and do different things right enjoy life, so my my entire world is not revolving around crypto, so i know that some of you may know this and you got it down pack, but its mainly for the new people in the market.
Right who, who are maybe looking at this every day and still trying to learn, but you got to give yourself a break now: finance ceo cz tweeted, something that i agreed about and ive talked about it a bit as well in the in previous videos. He tweeted four years ago this month, so talking about september bitcoin made an all time high of five thousand dollars on september. First then crashed to three thousand dollars by september 14th. The rest! Well, you know cbc below. So we know what happened right and i shared the news the other day, where this same month in 2017, china issued a ban on crypto exchanges right so its almost like history repeating and rhyming a bit too close here. So these pullbacks dont matter. What matters is the macro, and we see the macros pointing to higher prices were still in a bull market. We still have a leg to go here and i think a lot of money is going to be made in this next leg um. But you know we have to be cautiously optimistic as well. Sometimes black swan events happen and we cant control these things. No one can predict them and they can affect the market, but i do think that uh theres a higher probability of a bull run than a bear market. Now a bear market will come after we hit that blow off top, so just be prepared for that. All right congressman tom emmer, who ive interviewed on the channel a great gentleman um out of minnesota and uh hes, a big crypto advocate.
Of course he has put forth many different bills, one including the securities clarity act, well check this out what he tweeted today today. I sent a bipartisan support. Excuse me, a bipartisan letter to federal reserve chairman jerome powell highlighting the need for private sector digital asset innovation. I love this guys and i think the key takeaway here is bipartisan. This is not a republican or a democrat issue. You have both sides of the aisles here and he tend he thanked his colleagues. He said thanks to my colleagues, representative, ro khanna, darren soto, congressman glenn, thompson, representative, frank lucas, uh, representative eric swalwell uh and representative ted budd for joining me in this effort. This is awesome guys. Let me read a bit of this um to you. It says, dear chairman powell, on july 14 2021, you appeared before the house financial services committee and provided insight on the federal reserves work on developing a central bank, digital currency uh. Your concerns about stablecoin regulation and your view that a cbdc would undermine the need for a decentralized digital assets um. In light of these comments, we would like to know if and how you, the federal reserve board of governors, intend to support domestic innovation and widespread adoption of digi decentralized digital assets. To that end, we would like answers to the following questions: one in the united states, digital assets are subject to overlapping regulation from multiple regulators, including the federal reserve board, the financial crimes enforcement network, the sec, the cftc and others.
The adoption of cryptocurrency has been hobbled by a lack of regulatory clarity addressing such matters such as custody, tax policy, accounting practices and other vital requirements. So im not going to read the entire thing. You can certainly go pull this up, but thats kind of the takeaway right asking hey weve got this melting pot of a whole bunch of crap. Here we need clarity, so its going to obviously a high power in the government so to speak. Look they print the money right, um and lets see where this goes guys, but this is what we want to see as crypto investors. We need clarity in the united states, so this is uh. This is awesome um. You know he tweeted his um. His thoughts on this in in a link to um his website talking about hes, urging the fed chair, so he said decentralized. Digital assets like crypto, give everyday investors democratic access to financial services. Government action must support private sector innovation and not compete with it. Love it. Shout out to congressman tom emmer, he will certainly be remembered as one of the uh leaders in in this innovation and new asset class. So this is awesome all right, theres a lot to cover here with charles gasparino of fox business, who has been covering crypto regulations. The sec, the situation with cancer, the ripple xrp lawsuit. So let me read out some of the things he called out here, guys uh. Today he tweeted, he said, stay tuned, eleanor tourette and i will be putting together a detailed summary of various alleged conflicts of interest, including the secs case, against ripple by the way conflicts dont necessarily mean causation, but full disclosure is always necessary for debate xrp community.
He also tweeted the following: the difference between amc, ape crowd and xrp community is pretty obvious. The xrp ripple case has some real meat conflicts regarding sec and potential favoritism that hurt ripple ape attacks against cities. Uh city citadel securities are devoid of substance just while conspiracy theories well, i kind of disagree with him on. You know divide the void of substance because um we know guys how this game works with melvin capital, citadel and robin hood and so forth. So i think there is some credib uh. You know some credence here to uh why people were upset right um. Are they 100 accurate? No, but yeah yeah yeah? Is there some conspiracy theories in it? Yes, but there is some. You know credibility here to what a lot of these people on reddit were saying and why they went after melvin capital, even with the gamestop situation and so forth. So i wouldnt paint it with a broad stroke like he did, but nevertheless i get what hes saying you know. At the end of the day, the folks on reddit were just um punching back against wall street um, its just its just a game of back and forth and betting on the market, but with ripple and xrp. This is like halting innovation right for the rest of the market, including ripple and xrp, and its like. Okay. What are we doing here? Companies are trying to build theyre, trying to create jobs, theyre trying to bring solutions and to make peoples lives better.
So i obviously bigger bigger situation um with much more legs here, so um someone, you know kind of uh called him out on this saying: hey dont downplay this with the uh gamestop amc thing and – and he said here the answer im all about evidence and the Xrp simply has the better evidence so shout out to xrp holders, because a lot of folks have been sharing video clips and blog posts and articles and a lot of stuff. So you know its not like were just here ranting and making stuff up. We have hard evidence and uh, and here youre, going to see john deaton attorney john deaton, who ive interviewed multiple times on my channel hes, going to be on fox business, crypto friday this coming friday to talk about this guys. This is awesome. Man, john deaton, is doing some great work and uh hes. I think hes going to go out there and drop some truth bombs and expose the sec. So this this is amazing, um, okay, guys. This is so bullish. Im super excited about this president naibu kelly. Of course, the president of el salvador tweeted first steps hashtag bitcoin bitcoin with a volcano emoji. Here, let me play the video clip theres, not really any words, but it shows um. They are setting up the mining rigs and theyre, obviously using the volcanic um power here. Guys, let me let me play it for you once again: theres no words its just sound of the trucks loading up here, setting up the miner, the miners, mining machines.
I should have rigs, i should say pretty: cool um. I dont care. If you love or hate bitcoin, this is a solution that fixes um. You know the the energy criticism, because its using renewable energy guys its using clean energy. So this is awesome and you know in the united states we we may see this like uh whatever. Who cares? You know because were or maybe in the more developed worlds right or countries, but in countries like el salvador and some others where the currency is not strong, they dont have high gdp and so forth. This is massive guys and – and i can see other countries doing the same, i think were gon na see a lot of countries follow. El salvadors move so future is exciting. Um heres, another example of adoption in el salvador. Bitcoin salaries in el salvador can now be paid through atm maker. Athena massive infrastructure set up here once again, and this this is starting with bitcoin, but it is eventually going to go to all coins right bitcoin is once again, usually the gateway to doorway. Whatever analogy you want to make here, and then it will lead to adoption of all coins as well so great for the entire asset class. Now, carlos domingo, who is the founder and ceo of securitize uh, he uh tweeted the following today, and this along with the big news: they are launching securitized market, a a uh secondary trading marketplace, marketplaces, selling and trade security tokens.
Now i believe, a couple years ago. I had interviewed their president uh and co founder, jamie finn and yes yeah. So here i have the two interviews from two years ago, guys so theyve been doing their things since, like 2017, where they are helping uh companies and people to build tokenize products. So you can tokenize if lets say an nba player like lebron james, wanted to tokenize his nba contract. They would be the folks to do it. If you had an artwork or some rare car you wanted to tokenize, they would be the ones to do it. They helped put uh, you know, create those security tokens because thats what they are and it will be on the blockchain um, and this is the future guys, the token economy. So they are building that marketplace now, where you can once again, trade and buy, sell and trade and so forth, thats thats, pretty amazing. They are ahead of the curve and i i when i interviewed their president jamie friend years ago, i was like wow this. This is going to be big and you see it takes time. It takes years right to to get going to get convinced, um, different uh customers and firms and institutions and individuals to to adopt this so uh. Now any small investor can go trade them this. This is pretty cool. Finally, cftc hits kraken with 1.25 million dollars in fines over alleged illegal offering. So this is not really a big deal.
1.25 million is like a drop in the bucket for for these guys uh, but let me give you the details, margin, leverage or financial digital asset trading offered to us to retail u.s customers must occur on properly registered and regulated exchanges in accordance with all applicable laws And regulations said vincent couldnt pronounce that for a second, the cftcs acting director of enforcement, so just an fyi, i think its just a slap on the wrist, nothing, major and and its because theyre putting all these regulations in place. Um, you know to a certain degree. We need full regulatory clarity, but you know uh with regards to derivatives and futures trading um. You know the big boys like the cme and all these guys are not on blackrock, are not just going to let you walk in and as a crypto exchange and just start offering that you got to go, get your license and get fully regulated and all that. But something is to know as far as an fyi, so guys uh, we just got to be patient. Like i said i think q4 is going to bring some fireworks. Uh patience is the key here, as it always has been in the crypto market um. You know if you, if youve been here long enough, i think you, you probably start to see that now being patient and being patient and your patient pays off as the bull run starts. Just remember how amazing it was from, like november of last year, into uh july of this year, where we saw bitcoin go to 65k eat over 3k near 4k.
Um just prices going crazy right. I think thats coming again with new all time highs, but just as we had to wait all of 2020 until the end of 2020, and even before that those of you whove been with me for uh through the bear market for years patience, my friends um. So let me know what you guys think hit the thumbs up.