Ripple has launched a cbdc, innovate initiatives to have central banks, build cbdcs on the xrp ledger attorney john deaton goes on fox business today, and he further exposes the hypocrisy of gary genser in the sec and a poly sign the crypto custodian with heavy connections to ripple Theyve raised 53 million dollars, and this is happening in the bear market shows folks are bullish. On the long term, outlook of crypto grayscale has partnered with a major wall street firm for the push to get their gbtc uh trust to be converted to a bitcoin spot etf and the head of business development at citadel securities is leaving to go work at a Crypto company lets break it down Music, welcome back to the thinking, crypto podcast, your home for cryptocurrency, news and interviews. If you are new here, please hit that subscribe button, as well as the thumbs up button and leave a comment below if youre listening on a podcast platform. Please give me a five star rating quick word from our sponsor, and that is linked to which is democratizing. The process of private private equity investment uh, they are allowing accredited investors to be able to invest into crypto companies and uh tech companies. Previously this was only available to venture capital firms. Hedge funds and many of us could not get access to this well linked. To is opening the door to that opportunity guys and like the institutional investors, you can double dip.

You can buy the tokens which many of you hold and buy equity in these companies before they ipo and some of the companies linked to has in their portfolio include ripple. Bitpay dapper labs uphold abra and many more and they were early participants as well as the users on the platform at that time, in buying equity in coinbase, before they ipo and as you can imagine, all parties did really well. So there are going to be many more companies that are going to ipo, so this is certainly a big opportunity once again being able to double dip just like the institutional investors. So if youd like to learn more about link to please check out the link in the description heads up, i will be actually doing a webinar with the folks at link2 to talk about crypto security. How to protect your funds and to plan for the future and myself and alex who is known as coining 203 on twitter? Many of you in the xrp community know him uh hes going to be joining me were going to be doing that full webinar. So you can certainly register link will be in the description, come by check it out and we can chat a bit now. Heres, a quick uh breakdown of some news items. China state news. Excuse me, china, state, run newspaper economic daily, says: bitcoin is heading to zero. Now, when i see headlines and statements like this, it makes me very bullish, because ive seen this time and time again, this news is for the masses to fool those who are not well researched, who are not educated about the technology in the asset class.

And when i see things like this its so outlandish, i remember years ago there was a guy in china. He was on a, i think it was a china state run tv and he was he was saying. Bitcoin will bring death to us all and its just these outlandish statements right. But you know that is a tactic theyre using to one uh not have people adopt crypto and two theres folks who use that tactic to keep the prices down or have the prices go down? Have people sell so that they can buy at the bottom and then when the price goes up, they switch their narrative. They flip the script right. Weve seen this time and time again its smoking mirrors, and i hope many of you if youve been listening to this podcast watching the channel over the years. Ive tried to hammer this home. Do your own research dont, listen to what the people say on tv, dont dont, listen to what they say, but watch what they do guys. So when you see things like this, it just makes me laugh, and it makes me bullish now heres a bullish statement from bank of america uh. They said that crypto winter has not frozen investor indus interest in the industry. Of course, not the institutional investors who are educated, who study this thing, they have data analytics and all the trends and things being put together. They know its blood on the streets.

This is the time to buy, and i hope many of you see that as well. Now, obviously, this is not financial or investment advice. You have to make sure that you do a risk assessment and be risk averse. But typically, when we see markets are down thats the time to buy and then be patient and have the cycles play out from bare to bolt and thats, where you can make money now, heres some big ripple news guys – and this was tweeted out by the digital Pound foundation, which is an independent forum, supporting the implementation of a well designed digital pound. So obviously the bank of england and all these folks are involved heres what they tweeted. Yesterday, the digital pound, the digital pound foundation, member ripple, launched their cbdc, innovate and cbdc stands for central bank digital currency challenge to promote the building of applications for financial inclusion, interoperability and retail cbdcs. On the xrp ledger now we know ripples working with many central banks around the world. Ive interviewed david schwartz, a few times of ripple hes talked about the private ledgers and how the central banks can build their cbdcs on. There were seeing a lot of pilots happening. A lot of building so theyve launched this innovate challenge to try to get more adoption and i think, its very smart, so heres what the uh initiative the details are, it says ripple cbdc, innovate, build or update a fintech or payment solution that utilizes cbdc and is Capable of being run on the xrp ledger, winners are invited to a winners, only event with a 150k prize pool thats, pretty cool.

I think this is smart and you you get more developers and people with bright ideas to come, build on the xrp ledger, youre, offering obviously an incentive. So this is pretty cool guys and the details they outlined here in the post. It says the xrp ledger was the first blockchain to allow the tokenization of assets, regardless of whether the assets are fiat, cryptocurrencies, nfts or other forms of tokens. The xrp ledgers built in tokenization functionality and built in decentralized exchange, make it ideal for developers to add the decentralized management of tokens to their applications. So i absolutely believe that ill see theres going to be cbdcs built on the xrp ledger. We weve seen time and time again, just the folks at ripple working with different central banks, meeting with central banks right, um and, and they have the you know the different things going on with palau and many others, so very bullish and and uh. You know its its showing that you know they are really uh trying to push this um use case in addition to nfts and other things, but cbdcs are are gon na, be a thing guys theyre here i know some of the bitcoin people and uh uh crypto. Folks are just like cbdcs: are the devil and so forth? Look i i ive personally been on record and ive said it many times in interviews. I worry about our rights being taken away because of cbdcs, but i know its coming guys: the digital economy, the digital world, is coming so its either you adapt to it and you um, you know, put together plans to work along it and sure we want to Make sure that our rights and so forth are maintained, but this is the future and theyre going to build on the xrp ledger and dont.

Get me wrong: theyre, going to build another block chains like algorand and so forth. So very bullish news here for xrp and obviously the more adoption the xrp ledger gets the more value, the xrp native token, that xrp will have right its network effect and look at what happened with ethereum with all the building on top of ethereum. Despite the gas fees, despite the transaction speeds right, uh its the value trickle down to the ether token, so dont forget that guys. This is definitely bullish. Now, im not going to play the clip here, but attorney john deaton went on fox business today and he was with um the folks there talking about the ripple, lawsuit, the sec and uh gary gensers hypocrisy about all other crypto tokens outside of bitcoin are securities. So the pressure is mounting – and i love that hes doing this. I support john deaton. Ive, obviously interviewed him many times and im one of the 68 000 xrp holders, which was affected by the sec lawsuit. So i love this mainstream coverage of whats happening and the building pressure on gary genser to do the right thing now, a company by the name of polysign. I think many of you may know this ive interviewed jack, mcdonnell, of course, uh. The ceo and remember polysign. Pretty much was started and is being uh. You know operated by a lot of folks from ripple like arthur brito, who of course was the co founder of ripple, labs and co, founder co, designer of the xrp ledger and of course, david schwartz, whos, still at um ripple.

And then you have like a bunch of people from different banks like uh tim keaney, whos, a retired vice chairman of bny mellon. So some big names connected to polysign and you know you can see the language on their website. Silicon valley meets wall street poli scis, unique crypto, fintech team brings together luminaries in digital assets and technology, with proven leadership with finance from financial services, so theyre, providing crypto custody and all types of uh uh technology to be able to for these institutions and wall streeters. To access crypto funds and liquidity and so forth, so its its certainly not far fetched to say that ripple is going to probably use polysign in some way we dont have the details, but guys this is big heres. The headline polysign nets – 53 million dollars to improve services for institutions and asset managers, cowan digital brevin, howard and gsr among the firms backing the blockchain focus fintech company. These are institutional names that are backing polysign guys and look at when its happening, its not happening in the major bull market right its happening in the bear market. Where theres a lot of fear uh the prices could go down. There are a lot of potential collapses that could happen with celsius and other folks. We saw terra luna collapse, so i just want you to look at this thing holistically and why these people are taking their millions, which they dont want to lose by the way they want to return in their investment and theyre.

Putting into crypto companies you have. You got to understand their mindset and what theyre thinking right so uh. This is pretty big guys, so blockchain infrastructure polysign has assumed blockchain infrastructure provider. Polysign has raised an additional 53 million dollars, as it seeks to eventually offer instant and automatic settlements for a range of crypto assets. Participants include uh included hedge fund brevin, howard crypto market maker, gsr and calan digital, the latter business, which financial services firm cowan launch. In march offers custo custody solutions via cowens partnership with polysign, subsidiary standard custody and trust company. The capital was primarily used for the acquisition of fund administration, administrator administrator, my goodness mg stover, which the firm revealed in april the purchase of the company, which had 40 billion dollars in digital assets under administration at the time, accelerates the companys product development service and had Enhancements for institutional investors and asset managers, polysign said in a statement very bullish news, guys that they were able to raise this capital and once again they are trying to bridge and uh the the the gap between crypto and these institutional players. These wall streeters guys very bullish news now, speaking of bullish and speaking of wall street and crypto citadel securities global head of business development, jamil nazarali is moving to run the new crypto platform, its building with virtue um guys once again put the context here. Its happening in the bear market citadel is a powerhouse we, you know they become very much famous in in the whole, gamestop uh short squeeze situation.

Of course, it happened in 2020 and look at what theyre doing theyre building for the crypto market in the bear market, because they know we havent hit full mainstream adoption yet and theres more money to be made here – and this is a global asset class. So bloomberg, as usual, wants me to pay to read the details of this article, so im not paying them for that but anyway, so just so, you guys know uh the firms head of business development named ceo of the new platform, so hes going to be the Ceo market maker brings knowledge and traditional finance to crypto, so were seeing a lot of the traditional phi or trad phi im going to call it that uh traditional financial, guys moving from traditional finance to crypto, so very, very bullish news guys and its just amazing uh Whats happening and uh from the details i can see here uh it says here he was named chief executive officer of the platform the company is creating, with virtue finance financial incorporated charles schwab, corp and fidelity digital assets. According to an internal memo seen by bloomberg, this uh once again bullish news. I know some of some people will be like dude. You keep saying its bullish news, but what about the price man? Well, you got ta understand market cycles. We had a big run up. Last year, well from 2020 into the late 2021, obviously, and now were in the bear market, but this is bullish for the future outlook of the market for the next.

A bull market cycle so definitely definitely context right and understanding. The macro view you cant look at just the price, because the price is affected by different things like market cycles. Sometimes the news um and you know right now were dealing with macroeconomic factors with the fed, which is punishing all markets right now. So uh lets move ahead. Grayscale tweeted out the following were proud to share that two of the worlds leading etf market making uh trading firms virtue financial and jane street group have agreed to serve as authorized participants for gbtc pending approval from the sec. It says here if our application is approved by the sec, these firms would enable the simultaneous creations and redemptions inherent to an etf. So big, big move here by grayscale and uh. You know guys july 6 july 6, next uh uh wednesday uh. I i cant wait to see i i know the i well. Let me back up. I think the sec is gon na, not approve their bitcoin spot agent, but what im even more excited about if the sec doesnt do, that um graysons gon na sue, the hell out of them and we saw theyve, been uh, adding to their legal team and theyre Partnering with wall streeters, so the pressure is mounting on genser guys and look you know if a bitcoin etf is approved. You know we want, i dont think were going to see a run up to 100 000, but im sure were going to see some sort of rally right and and probably bitcoin goes out of management – maybe 40 50 000 – maybe maybe right its hard to say because Theyre, the market conditions with the fed and everything is, is really bad, so i wish this happened it i wish the the sec would have approved the bitcoin spot etf last year in a bull market that would have certainly takes would have taken bitcoin to over a Hundred thousand, but you know well see well see guys, so the fact that grayscale is doing this is once again bullish.

Look at who theyre partnering with these major wall street firms, further putting pressure on gary genser. Now, speaking of banks and crypto nyc b, which is new york community bank corp uh, they will custody usdc this staple coin, reserves as part of circles, impacts commitment to making your future money and payments more inclusive. Now i know some folks are going to say i dont care about stable coins. I dont care about circle, blah blah blah, but remember the usdc runs on a lot of the blockchain uh blockchains out there guys stellar lumens, you name it ethereum, whatever it is right. So stable coins obviously is a tokenization of of the dollar on uh uh, the blockchain and other fiat currencies as well, but uh. I think overall, bullish and showing banks are integrating crypto in one way or the other. Finally, ebay filed for several nf2 related trademarks, including nft exchanges, nft trading and issuance of nfts. You think theyre bearish on nfts and crypto nah theyre bullish. The other day we talked about you know all the things that theyre doing what and acquiring a nft platform now theyre, trying to file trademarks, see guys watch what they do, not what they say, and this is bullish news. So let me know what you guys. Think of this news leave your thoughts and comments below hit the thumbs up.