BTC Skyrockets to Record High as Trump Wins Presidency | Crypto Town Hall
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I hasn't need to interpret this incredible musical interlude, my favorite song, so going to let to play for a few more minutes. But we have a show to run here. Alex, remember, we are saying, what will we talk about, uh, after the election? I guess a bitcoin all time high during the election is worthy of a conversation.

Yeah, that's that's pretty good. I'm also glad that we're not gonna be talking about who won. We know which .

is the um uh uh pretty good change over where .

I think a lot of folks were expecting us to be.

Yeah I thought there is a very hy percentage chance that things would still be certainly in question today, uh, if not for you know days or or week. So this level of clarity is really, I think, a breath of fresh air regardless of who you support. The fact that we're not gonna debate and we can move on from discussing what's likely to happen to what is actually reality is it's really a pretty refreshing, I think.

So obviously, we're gone to talk about, uh, the big Price action, the election itself, uh unactive kind of all of IT. I have to say that whoever the whales are that push the market in, uh, favorable or unfavorable directions are poets because watching a sort of the elective eyes of trumpeting increase while the Price of bitcoin, uh, increase was but chef case to see IT. You know, push through all of those residences and at all time high at that time uh, they've got a great sense of humor and I think not ironically interesting that this is exactly what the coins should do at this pointless cycle, whether the election happened or not, right?

We talk to head of the having had six months side ways and things start to go up in october and november and and once again, we're seeing that happened. So uh, but moving on, I think more to the implications of the election for the ecri pto industry. We saw a bit point of obviously guy, that we also saw all coins fly, right? Bitcoin dominance is skill up.

I think that's largely because if there am is so heavily waited, but you look across the board, a lot of all coins did not performed to going to the upside, obviously, because of the belief and trap administration bringing lot more regulatory clarity, a lot less hostility, maybe legislative clarity. So devoutly social number minute is what you guys work out, right? Uh, are you surprised at this red wave that basically and even the popular vote that looks like probably going to be republican across the board? And what does that mean for the industry that you've been working so .

hard to lobby for? Well, thanks so much. God, have basic of a lot, about five in the morning last night.

So this drink is m carb. I slept about three, four hours. Well, with a heck of the night.

I was a sleep in Victory. Crypto o and so many different fronts in the industry really came together. And there were a few surprises. I think the popular vote really was quite a surprise.

I had a feeling the present former president now president electron, was going to pull that off but the pipe the vote was quite interesting picking up the um you know the rules bet states and because michigan is so technically up in the air but IT was somewhat of a redo of twenty sixteen, but we threw in the va. The senate races were also fascinating. I gotta give john deep moto credit.

He put up a resounding fight against warn, I think you get close to forty percent of the vote, which is pretty prety crazy for a senate race and racial. Tes, and you just held warn to the fire, uh, mcconnon, compense, vanier. Again, that was a real interesting race.

So the industry was watching very closely. A lot of folks didn't think that he reported off and still has isn't been called, but it's incredibly close. And if he pulls that off, that's gna be gravy because the other races is that we did think we had a really strong shot at montana with tim shi, you know, alex, I know you up that way.

Uh, bernie, bernie marino O A fantastic rates. And then the michigan went to with Rogers and that's a squeaker. But I just I just want to generate the senate was a surprise.

I I knew the republicans want to pick IT up, but that I thought I was a little be closed around a few of these races, but it's win. And then the house is also, that was like, it's a try fact, but I think going to be very good for cricket policy going forward. You mentioned mariano.

obviously being shared Brown, who arguably was the left tenant of lizabeth m in the anti cypher army, right? So we have the bad news that Elizabeth warm remains a senator that she's going yeah obviously SHE beat uh our beloved john didn't know many of us, even on stage, obviously donated to and supported heavily. But she's on an island, right? I mean, she's like without without Brown and without, we know gangers likely to go. I mean, she's sort of been decapitated here even with her Victory to some degree, right?

Yeah, no question about that. I think this was really kind of a Mandate on her view. And cypher o not just I ve see with the republican, but even within their own caucus, within the democratic party.

I think this was a wake up call that if you're as part of his her antiscorbutic army, there's going to be IT was going be repercussions. And our industry is compared the last mittre cycle and twenty twenty cycle. Our industry has credibly stepped up with the political support of these candidates. And I think I really paid off last night um from the White house all the way down to even some of the state state rises. So yeah warrant is definitely and I went now and I will be fascinated to see what her influences is going forward within the party, but also within the senate itself.

So IT is hard not to be hyperbolic and sort of expect that all of our ecri pt wet dreams are going to come true here, right? We've seen all the proposed policies from trump, from a strategic reserve, no CBDC guarantee, self custody, all these things. But we also, and I never expect any president on in any party to be able to follow through, even if their intention is good on on all their policy, to be clear.

But those are sort of the big ideas are floated. But when you dig down into the, I guess, less big corn and more crypto side of things now as you will look into there's no expectation maybe you know market structure and stable coin bills pass. But more importantly, that we see more a favorable chair. People and members regulate agencies. This is my big way of saying, when the hell do we see a gary gangs ler pack his bags and get the fuck out of our lives?

Yeah, some folks on the audience here may have some opinions on this too, but I think the transition is going to be key. Have a income in city vice president that holds bitcoin, incoming president that holds biton, another crypto access noodge. I think the the transition going to be absolutely paramount.

We have incredible people that are going to be on met, and it's going to be really the talk of the town over the next sixty days to make sure that these types of positions, including determent ships and the appointment of the ports commissions, are filled with supportive folks in our industry. Um but you come to genuinely twenty if they think units after the races and games, the party, the president is the chairman of these commissions and that's where ginna have there. They want to talk about that.

Yes, we've seen has to per floated. Obviously, I think that even in transition, he would have maybe a .

brief time as chairperson will yeah .

uh and then of course dan gallagher, uh you know legal head for Robin hood. He was also A C C. Commission in the past.

Favorable I haven't john didn't floated uh which I think is be fun. That would be the greatest irony of losing Elizabeth warn and getting place for plants at the S. C. C. Would be entertaining.

But I think, uh, you know that the question that people have maybe where we start to get, I don't know for exaggerating you just to anticipate too much, but do you think that we actually see the coin base suit disappear and the crack and suit disappear and all the attacks from the S. C. C.

Against the crypto industry? I think you'll stop, but I don't think that you know muster's out right fraud, which is illegal regardless of industry. I think those will continue.

But do you think that you know for now, like coin bases now in the clear, for example, I mean this and Donald trump is launching N. F. T. Projects and shit coins. I I can't imagine a world he allows to be illegal.

yeah. I think a lot of these cases are actually going to be be dropped, certainly pause. And I think a lot of IT will be also believe that once we get this marker structure defined from congress, so we actually know what these assets are.

Man, what what a time to be alive? It's really crazy how you know this in our job is to talk about the crypto industry and the news and the elections and politics in context of what we have here. I think I should be said i've set IT over over on my own shows like I ve tried to remain obviously unbias as a host.

And to just speak to the way that I see what's happening and how to affects the industry regardless of my personal feelings and IT should be noted, there's there's a lot of other issues outside of crypto that are important in elections but is not our job to discuss them on this show. Which is why I think, you know, are you see so much excitement here because regardless of your political leanings, your feelings, what you feel about immigration, any of those things, I don't think there's an argument to be made that this is not a clear massive win for crypto in the united states. There are IT go head read.

And IT is just a great time to be alive this morning. But I just want to add to what you guess we're talking about is and we talked about IT before, but it's great that we want but prepare for all of the crypto enemies to now become crypto advocates, that they were really all about the technology from the beginning. And they just wanted to make sure with safe from the beginning because if you're I mean, even when Elizabeth run was getting destroyed in those debates by SHE, I mean, a lot of I IT almost seems like a lot of people miss IT, but was just like, oh, I like crypto. I just want to .

make sure the fraud is on. I tweet story about that fed my god, I mean, he literally SAT on the floor of the senate and fed Jimmy diamond from J. P.

Morgan. Like, can the questions and he said, if I was in the government, I would been and should get right right. I mean then like you is like, of course we should be uh, cypher and then in the debate he says everybody should have IT. I just want exchanges to be safe.

yes. So I mean, we are we are up on that immediately, but in the general public did in. And so everybody in the crypto world needs to figure out our are we going to be really loud about that and say, what are you talking about? You're the biggest, you know, shit for the last three, four years. And talking about everybody that was in a crypto or we're going to a bite our tongue and go forward to like get everything done as quick as possible. And you know, the lawyer in me wants to just yelled everybody and say, I told you so and you guys are liars.

But maybe the, or maybe you can stop doing the S. C. C.

now. Can you stop doing the S. C. C now?

Mean exactly that. I an, I have my own personal questions and dies of battle.

Yeah, I had an interesting question. So for someone like you who suit the S, C C, I means that pair say you suit the S, C, C and lost value effort. But you know, oh, how does that been for you in a few months?

Well, I mean, i've got a couple of things on the back burner that I was. I'm trying to figure out we pull the trigger and add. But you know honestly, I don't think so. I mean, I especially it's not worth doing in the next couple of months. I mean, there's no there's no point until we see is going on.

Do we played that the S. A C is going to come with an absolute lame duck by storm of enforcement actions in the next few months just to be two jets?

Well, I mean, I it's if you look at what happened, you know trump is going to be a lot more favorable to crypt out this time. I mean, the money is there regardless of all the promises is made. But you know, they dropped, uh, the ripple lawsuit in the lane procession and that really was the precursor everything going so you can't put IT .

I I faked the day before clayton left office and cans or came in. Clayton dropped the report suit. yeah. And dry dropped in the bad way, not the good way, guys. They they brought the craft.

the rip suit IT all depends we're going to in this lame dog session and IT, it'll be revealed as to the fight left in the anti crypto army. Is IT going to as IT you know, they lost, but is their last row of just temperature antm.

What's see what we can cham up before the new administration takes over? And I want to say no, because, again, because they're so much money that was pumped into cypher that and and all of the packs and went not if you saw towards the end of the the election, this looks like just one day they started saying, okay. And now we've got one hundred million, fifty million, four, twenty, twenty six, and they started drop in all those hint. So I mean, the democrats need that money to everybody wants that money for the next cycle, which you know, around day one of the next cycle. So everybody, he's already thinking of twenty six.

the swe crypt of dollars near three are .

you hand up and alex.

Yeah was going to say I found a really funny that and is a congratulated trun trumping all after the the last this morning and eating some humble part .

I do and he's probably one of the fair Victory congratulate lately on mask and said god speed but I think that's what adults do guys uh and I know that most people in cypher are not adults. Uh, most people in the world now are not adults argue but okay, I to lose you know.

trust go and yeah but .

they are going to let you have that one side on.

Yeah I I would say mark also did follow elon on twitter again here. So I think that's really a big sign of everyone coming together. Um I don't think fully too much of the S C C over uh in in the Linda period. I think the Victory, like the the trumps, the Victory was so clear, especially with the changes in the standing stuff.

I think if you know the what am I saying is the the ministry say that does exist, is going to be focused on, I think, trying to insulate against the trump what they see is the trump change coming on areas that are much bigger and more morant to them, then crackdown and even though like the A C C can Operate on their own IT does require ordination within just this is not, this is not, we're the White house uh and other senior folks are going to want to be spending their time over the next two and a half much they have much, much hier priority issues um getting a fighting housing yeah yes well and just how how to basically set up the government to be insulated from trumps changes for the next four years. So I think that's where the energy is gonna go like trying to file a bunch of new crapo suits that can just be drop as soon as new adin is not going to be at. I think I think the more interesting thing is whether gary will go quietly or fight IT um as I recall the last time or talking about this over the summer is the ability to remove him is not um one of the other words. If someone who knows this area Better can speak to that, i'm sure more than I can but um I don't I don't know if he if he does trying fight IT and make we end up with new amazing case law or something or if he just does decide to resign now go back to the professor somewhere.

yeah.

Yeah for me one of the most interesting things that i'm waiting to see is uh when trump can actually make good on his promise of uh releasing ross all bricks um I I think for bitcoin ers in general he paned a lots that audience and I would left to know from a legal expert when this can actually happen and if it's going to happen. Because, you know, everyone from b tc media, you know the guys had a bit coin conference. David bai, they worked really hard to campaign for the x that's a big, big part of um you know trumps kind of promise and I think it's an important thing for liberians in general is the counted. And I think this for me will be a very, very big talking point for big point, particular as time goes on.

Simon.

yeah I also just wanted to say a few words to some people, you know for us this was great for bitcoin and our sector in our industry but for other people this was like the end of their world as they know IT today. Um and I just wanted say a few people, you know a few things to the to the democrats out there um and the people that were hoping the Harris was the Victor.

Um the the first thing is now you get to hold trump accountable to everything that he said he would do and there is a bunch of stuff that we would like trump to do um and so you get to hold him to account and call him out and all of that and that's all of our job collectively together um because there's a lot of good policy and now that helps a lot of people everywhere um in amErica and the second thing is because he aligned himself with elon. Um I personally believe that the last two years have been a real net forward society in terms of our education by having freedom of speech to be able to speak on ex, and so by maintaining that freedom of speech and allowing elon to hopefully continue what he's doing by allowing us to talk, you get to stand up and you get to push you know things forward. And freedom of speech is is a real Victory with x and remember, you may think that um whether Harris wins or something that's going to determine your financial future.

But the reality is that the fed was gonna the same under Harris syn trm. They were going to create inflation. They're to pump p the real estate. They're na pump the stock market and the real determiner of the economy is a federal reserve. Understand again. And once you understand again, you realized the bitcoin, the great equalizer and bitcoin and protecting your ability to have bitcoin in self custody gives you the opportunity to have wealth, to become an important lobby and to actually make a difference where IT actually matters. So all of those things have progressed um and is your turn to to kind of progressed with that?

daf.

You with interesting, you know, I think that sound mixed people. Very good points there. The the work starts in january, in january twenty eight hundred twenty first. I don't there is no legal authority before that information of the lips. Can you .

guys still me again?

OK have a message. Yeah, that the message that said that he was not good.

you get out waiting.

I just popped them fucking yeah, I just pop back. So but the real work starts with the transition team appointing people to do with trump, said the most important promise that he made IT by twenty twenty four. In my mind, from an industry point of view, I think commuting rosses sentences is actually quite important.

I think getting chancellor not to be the chair, he could stay. But if he says, I think crin shot goes because her her term is up and he isn't so he could stay as a commissioner with whatever the new chairs. Lawyers could correct me if i'm wrong, but I think that's the way that works.

Although most but convention is he would leave to. And there either they could reappoint cent rol to be a minority person or they could find other democrats that that's the way in. Most, most know that the reality is the republicans in those agencies have been working towards this moment.

I can't freeze IT any different than that. I mean, I can't tell you how many times and I ve had multiple conversations with people in the c ftc nc over the last six months, elections have sequences is literally something that almost every single conversation has. And what does that mean? There are many proposals out there that they were waiting for a clarity of the election to see whether they want to move forward on.

And I think that people would be surprised at the the rate of change uh, in the U. S. Regulating structure, assuming the transition team just put together. Right i'm gona lie about IT I personally given to my situation.

actually have the time to do that.

I would like you. So no no, no no. Coin rw ts is is an international company and I as as as people know you know I am retiring from coin routes, you know not but not retiring ing from the world. Uh ian is doing a great job run IT and he's going around the company.

We are an international company, but there is going to be an a massive push in the united states because brokers, what no one really understands, the most important, most obvious win here when you get a uc chair is in twenty twenty five, all the broker dealers and and this is most of them that have applied to finer in the S. C, C. To be able to trade crypto on behalf of their customers as non securities will now get approved.

None of them were approved. They were held up for six years, literally because of cleaning, anti antipathy to crypto and then obviously councilors and with the administration of change, a pro cyp to and C, C air, which is pretty much guaranteed. And all those applications are going to move forward on their merits, and that's going to change dramatically the way the industry works in other states. And there are many implications of this. We're going to dive into IT know some of other shows I love to talk about.

This is a much larger conversation, but the simple way to understand IT is this if you're egypto project that creates a real value and the holders of the token can participate and monetize that value, you're going to see a if you're a critical project that doesn't qualify the token holders with any that value, I think we are going to find tough sled and going forward because now there's going to be a real competition and there's a whole host of rules. And why but that to me is, is why you can't just throw a dark at the crypto board and say, okay, and going to go up and maybe a will in the short run, but bitcoin will go up because the whole world is going to be trying, uh, to a front run trumps trade in in terms of sothern adoption. And that's not a small deal.

A thereon will probably go up because the whole world sees the big financial titans using the theory um on their cogan ized chains and they know they're have less regulatory issues with that. You know real change to do with the real value, we will go up. I want to go down the list.

But but if you're a mean and your structure in a way that people can participate in the value that gets created, I think you going to have problems. Uh, you know maybe IT takes time for that problem to develop. And I think it's a big difference. And I think that may be the biggest single thing that people should understand about what this means. And none of that is really pricing at this point.

relax. Well.

I just want to say what they've had about the transition. He's absolutely right. I mean, listen, we can take you know today is so to celebrate, absolutely no, enjoy the work that we've all accomplished. But the next sixty days before, jane, eighth of transition, you're going to be incredible, important.

And in the black king association, already our annual policy, some, it's going to be the summer sixteen, seventeen, we purpose, sly strategists said at that way, because we knew that these conversations are going to be happen in the working groups. You know that this been assembled, but now that is official. These uh, business leaders, these informer of government facials, lot of familiar names, lot of new names, have expressed a lot of interest on this. And you know, I think just looking back on how far we've come just over the last new year, year and a half, I mean, god, I think I was the last summer, summer of twenty twenty three where we had count all with the mayor miami know the first when he was waiting for present public.

Yeah, we had a slow of them rict. We had him a few presidential al candidates, crazy.

And a lot of those folks that have ran and that in their teams and their staff, a lot of them, we're genuinely interested in helping out whatever potential future administration would take place. And here we are. And I think that going to be IT just incredibly important part of the next sixty days.

It's yeah, we're going to know so much more about what the world is going to look like over the over the next couple months of the transition. I think if you if you look back to twenty sixteen member, everyone, especially the tempting, was surprised by him winning. And they were kind of completely unprepared to actually build in admin.

And I kick them a long time. The enough the ball, they were very little on transition. That is very much not the case this year. They have been planning for month. We've been putting together a transition team.

Might they went into this, especially once you hit the summer expecting to win and being ready? That said, they've also know trumping to has made a lot of promises to a lot of people um and he does not have agree track record of keeping promises to people um so I think one thing that will I was a lot about what it's gonna look like, not just in terms of how they actually position for cyp to, but just in general, what the advance is going to look like is what a lot of the announcement of the early appointments look like. Who's getting into these key positions, certainly.

Ly, i'd be pretty bullish on what I think that looks like in regards to A C C N cypher in general. Just so I think that will cost him very little uh, to fully on those promises. And I think he's very much vary bullish on just how much uh, tech encrypt did for him uh, on this cycle.

But I think you know what that looks like across the rest of our two. I think we're going to learn. We're going to learn a lot.

Yeah, if use your mountain, take a look at the people right in regardless of what you believe about him or his intentions I mean of counterfeits jail transition team right and literally is the guy that's custody tedder right um and talks about cypher all the time you have moscow is an outspoken advocate of uh the in story uh whether it's those or otherwise of obviously a big pointer. R F, K is obviously a big pointer.

I mean, there's not much to much here to to doubt. I think on the bitcoin side, certain ly um you know whether you believe he wants to keep his promises or not. I think that for our industry position very, very well offered to half to go.

Yeah, there are a couple of other things that when you talk about that motivation. So don junior, and he is liberty financial, was I don't want you to failure. I think he was expected to fail.

I think that was A I think I was a trial balloon ah and IT failed because IT complied with existing rules, which really are not cpa. There's right. So only accredited investors and six and you know year seasoning, meaning you can get immediate liquidity and all of that stuff, which is completely opposite to the way that critical works.

Anybody who thinks that, that isn't up in play now to change those rules, whether they change them for digital assets or whether there's broader changes to the accredit festival, that is, is hard to know. But IT feels to me like those rules are in play and that is a very big deal for a yeah basically IT could turn retail away from being exit liquidity, uh, to being able to participate. IT could change a lot of things.

Now none of those things are going to be easy. It's going to get debated anytime. People should understand when the cc goes to do a rule.

I mean, it's it's A A wrong time period. At first, he has to be written up by staff and there's comments to go back in forth and then they do a proposal. And then in the the extremely rare case, it's not revised based on comment because public comments go out.

Those are long periods in setup, but the momentum to actually fix the the club of the way investing works and to use this as an opportunity will be there, if only uh, to help you know fix that travellin because now they have experience in IT and and that is not a small thing. So you know we we will have to see what that means. The other thing is on the derivation side, I mean, I would be beyond stunned if we don't end up with perpetual future contracts with liquidations and twenty four hour trading within the first two years of a truck administration.

I would be beyond stunt because they say far, far Better method. Yes, there will be into mediation if you wanted. But the the reality is that thing that changed the way finance works in crypto, that's coming student into A A exchange near you here. And those are big implications as well that people have to think .

through yeah mean, I think, uh, most importantly, americans will now be able to shit .

going to their hearts .

content in peace. Well, I mean, sort of I those are the two the two sets of rules that stop at once, the enforcement. And like if you pass something like the twenty one or you pass the safe harbor that hastor talked about where people don't have to worry of being sued, then sure the the fringe er firms will certainly open up to americans again.

absolutely. But but uh they're also open themselves up even if they don't know IT to fraud uh prosecutions if in fact there is mark manipulations on on those platforms. And and so he could I could get interesting.

I I think it's not as obvious as we think and god knows, I hope IT is. I mean, I would love to be able to trade again, but and I think a lot of other people feel that way too. But it's nothing goes in a straight line.

There is going to be all sorts of little setbacks and things that come in. Don't expect you to be immediate. But the trend is certainly .

that you told me you have a message.

What is your message? Have a message for the people that are on the left. Because this morning I got a lot of messages from people saying that they felt distal that the world was ending and that everything's gona be awful.

And I have to say there are number one message that I think people need to hear is everything's gonna fine. I don't think it's a problem, in fact. In fact, you won't even remember this day three years from now because I am incredibly bullish.

Ed, on a few very big things, and I never use that word. People know me. I never use that word, but I feel incredibly bullish. Number one, we're getting grid of the regulating regime of lena ka. People don't realize how big of a deal that is, but is an incredibly big deal.

The reason why is an incredibly big deal is because our entire IT started up ecosystem has been frozen for the last three to four years, which means there's been zero M N A across the board, which is incredibly important for cyp to because if you are a financial institution that went to acquire any major crypto company, lino on come in the way and say that there was some issue. It's a big IT was a big issue for startups because they literally couldn't go uh and get acquired in this current regime. And there has been zero IPO s largely because of regulatory burden that has existed.

All of that goes away. I bet you the IPO windows open, M A flows again. As M, N, A flows, more investment comes and we're going to see more innovation country.

I am incredibly bullish on that. Number two, we now a venture capitalist that one heart beat away, uh uh, from the presidency. And I think that matters because he will.

Well, V, P, S, don't have that might say. I do think that will have to say here. And I think that will really matter in terms of the financial institutions and how we grow.

And the number three, even though we do need regulation, we will have much more clarity. And I think that's really good because one thing that's really important is that the world has flipped upside down in the current democratic party. And if you're somebody on the left, you should feel incredibly bullish because they will never be able to do this to us again.

They will never be able to be the party that that exploits your sickness inside of, pushes you towards health. Like you can say what everyone about R, F gate, this is got a good message. There's not existed in the democratic party anymore.

That used to be the old democratic party. So we actually, you gonna see people focus on a health over health insurance, which is where the democratic party has been. So if you're bullish health insurance, i'm sorry, about be a bad year.

Uh, number two, if you're looking across everything, the one big risk, and this is the message to everyone, the one big risk that we have right now is the long end of the Young girls. We are seeing IT go up really fast. And here is in the fed cutting fifty .

dips and then seeing rates to go to four point five percent as and .

kind of strange well, and the worst part is got the the mouth peace for the fed. Nicaro just came out and said, while we've already made their decision for this week, that means there's onna be another raka folks. There's gonna another rate cut in the face of a rising ten year.

This is not good. So we need to see how this plays out. The dollar is rising, which is awful, but it's this is not good.

This is a big issue that we will have to contend with. And remember that no matter who wins, there's always something that happens around elections. So we need to be very, very careful.

I know we're all feeling very bullish in the short term, but two to three weeks from now, we might see to play on a little bit differently. So people need to be a little careful, us to be a little careful, you know, because the long and the ten year is doing some weird things right now. And my god is telling me, and I have no proof over this, but if they got twenty five basis points, we're gona see a rise again.

The ten years gonna up again. The market is fighting back. And I don't know .

what to do about that. We have met and hear matt on my show a couple of weeks ago. You said probably the the the greatest quotes, the year, which I eve repeated at least one hundred times from.

You're talking about a lot of these topics. But listen, governments around the world have made sessions recessions illegal. Can you do IT anymore? Or you just see that? right? So what that play context he said you .

yeah that I I still think I think they have they have them um I think that's true. I mean, look, you know I am very optimistic for what uh, new administration we can do on efficiency other aspects. But I think realistically, ally, you know that is going to continue to go up.

Uh, stimulus is going to continue to go up. Uh, I think that's still a catalyst for crypto u. You know, the thing i've been focused on this morning, and i've loved all the commentary here, is now we were in a boat market before this happened.

Uh, and there there are three or four five of these other major cattle is this is just a Cherry on top, is the one were focused on right now because feels very present. But there are these other catalysts like you like government spending, recessions around the world and um I think they are all come together in the in the next twelve months. I'm i'm pretty excited.

Okay, we talked about this yesterday or certain ly in the recent past, so now we have clarity that was on my youtube show yesterday when we had no idea was going to happen in the election, just for context. But you don't know, we have you you guys always they have big one theory of spot G F. But now I think there's a much more likely path is unfair to say for sona xr. Everything else cp, extremely institutional.

Yeah, I think that's right. I mean, let's start with just the bitcoin and a theory of etf. I think you're going to see people start to have conversations rather around whether you can do in kind creations and redemptions in the future, whether you can broader in the types of firms and the quality of firms that custody those assets, whether you can do staking.

We see that kind of activity in etf markets around the world. And I think with a more supportive regulatory regime, you can have those conversations here and hopefully make progress. So that's going to make the existing etf Better.

And then beyond that, no, absolutely. yes. Uh, bit wise. And other firms are going to look aggressively at that. I would say there is still work to do still. You know what to chop on these other assets and and uh, you're going to need some very careful studies and some very careful data.

But again, when you look around the world, uh, etf providing safe and low cost access to lots of these assets, helping investors who want to own them in a traditional financial setting do so. And um and I absolutely think you're going to see that here. We're already in the etf air of crypto and now we're gonna sort of in the golden age of etf crypto uh over the next four years. And I I think it's gonna pretty exciting.

So president of me, coin index, is that where your time out yesterday?

I know you're A Y ready to APP .

into that. And because exit, just not for institutions .

fired up, I know that they obviously they'll be a line. I mean, look, the reality is if you look at the scope of crip assets, they are out there. The many shouldn't can't fit into an etf structure there.

Many that you know, I think even under reasonable regime probably are in fact securities or at least need new, new levels of disclosure and clarity. So it's not everything, but for the the high quality large of assets, I think we'll get there. There may be adjustments in terms of internal ownership.

There may be adjustments in terms of transparency. There may be adjustments that sort of you know push us further uh, away from you know so the wild west, but those will be positive in the high quality assets will get there. Presidential me point index IDE don't know, although you know the Price of those will tell .

you get that matter.

Do you think so .

long will get A T F.

eventually? Yeah eventually. Uh, i'm hopeful that IT will again, you you see that internationally now here in the us, you know they're have to be careful studies.

There's no regulated a lot of futures market, but that's not the only means to allow you to to proceed for an etf. So I don't think it's going to be you know overnight in tanee. I don't think it's a slam dunk. But as I interpret you know, the rules of what is all out in the etf, there are definitely arguments you can make in support of multiple .

crypto to assets and have any other thoughts .

here while while .

we got chapped no, I mean, you know this is pretty, pretty, pretty exciting day. I said this earlier in my C L I ledges congratulated the people who like crypto u when I was unpopular. Um you know I do think we're finally going going to get to see what this industry can do when IT has a level setting from a regulatory perspective.

And I think it's going to be pretty exciting. And I just remind people again what I started with, which is the multiple catalase here, there's rising institutional adoption, there's rising mainstream use, there's that deficits and now we have you know regulatory uh and legislate of tail wins. Um that doesn't mean it's up only, but it's it's a pretty nice set up on party about .

you people who are you there were here when I was unpopular and building you with you think of a have spoken a little while. What do you do you make of the the election results, the pracontal this here for the industry. I have really love what mad actually just said about this.

Sort of is our time to shine. Like if I can't get IT done in this next four year period, then it's going to to be a chAllenge in the united states. good.

Yeah and it's been a long road. I mean, you know I just looking at the charts and you know if you got into cyp do in bitcoin and like november of twenty one, I mean that you bought bitcoin, you're you're only up like fourteen percent today over that time period, right? And in other those people that have gotten at lots of different time periods and are of thousands and thousand and percent or have participated, you know in the mean increase in s or build utility tokens.

But I think one of the key things here, you know, I posted this last night, but you know, Polly market became this kind of centre of the attention, at least you know, on twitter for sure. But I was talked about a lot in the mainstream media as well. And you for the us. Election, the center of of conversation and U. S.

Citizens couldn't even participate, right? Like if that doesn't tell you everything about american policy that you need to know and how IT was backwards, uh you know and I think that this is a huge opportunity um for for a little bit of a winds of change with regards to just the approach, right? Like so much stuff has happened over last couple of years.

You with tea luna with F T X. Now it's been cleaned up and we got the etf even with the previous administration. And and I think there's there's a lot of work to be done here, but there's definitely you can feel there's a tie that has has changed because of this, right?

I think that the president's going to be put into office and that is launched in of tea projects he's launched like precision unch to token, right? Like you know doesn't mean necessarily that it's just open season IT just means much more favorable able. And you know it's like you can't bet against grip to anymore, right? There are so many people that are they have wallets that have voted.

How many people did make this you know one issue election for them just purely, you know on on crypto, right? And so I think the fact that we talked to a lot this year of, you know you can launch a mean coin and state that has literally no value, don't buy IT, right? And people did that because that was you know legally like, you know there was no grey area there, right? But if you are like, hey, we're trying to build this like new you know apple layer that's going to do X, Y, Z, you know we think it's going to be great for disruption.

Other housing market, margate market, we want to unlike liquidity of people's bitcoin, you know so millennia ls can actually afford homes in certain areas, like now can do that. That's illegal. But like this shit coin, you mean point you can launch.

And so it's just we are so backwards right now and it's hard for people understand. And so I think we were finally going to start unwinding some of that. And it's it's just that just a more bullish environment.

IT doesn't guarantee anything like that. One is saying like there's some monkey things you are on the bad market. But IT, IT does open the door for for for abolition is that we might we have not seen yet in this industry.

But again, it's just the beginning like big coin, yes, it's it's all time highs. The stock markets pushed all time highs multiple times at last couple of years in bitcoin. G, S, kind of get back to.

It's spent a long slog. So little bit of a long brand there, but it's just I would say, you know be be be a little cautious with everything. But also, you know it's it's if you're a builder, you're just excited to like college shit, like it's happening.

And I want to build this. I want to do that. And like all these new ideas are popped in my head and it's really .

exciting at first things.

I couldn't see the hands. Alex, I think you I .

don't say the only i'd say the group that is really definitely in a good physician this morning is builders. And at least you're getting you know that you're going to be in a much clear regulatory space.

Uh then we were yesterday on, I think for the overall like IT goes, so much of what happens over there was stolen me so deeply linked to just the overall macro o economy and no one has any idea what is gonna en there, in part because we have no clue what actually gonna specifically do in regard ds to the economy. You know, one of the things I really like the people said before is you have to turn trump seriously, but not literally right. And he floated all of these different proposals during an especially around terrorists and things up.

I don't think we will see end up seeing a you like twenty percent across the board terra on all imports um but if we did like any the amount that I would reshape and I know the U S. Economy is like given how our economy is currently structured and what the second, third, fourth order impacts on crypt u and other things would be is substantial. So like they're still a lot that we're not onna know for even a year or two as we see what policies actually come out, actually get proposed and they take effect.

So it's definitely a Better time to be a builder. Um I always say I think the other thing done is was time out with uh len on. I don't think lindon matters at all for crypto.

Nobody crypto is doing I N A and IT wasn't because of wa con out there excuse. Nobody wanted to be buying companies and even the companies in crypt to just aren't that big. Like that's the reason that the strike back acquisition stable is so big is like a billion dollar acquisition.

Cypher u is unheard of a pretty yeah I mean, it's unheard of and it's not because of linna on um where that's going to make a huge difference is on venture back text start. That's where uh the the the impact that lindon had on that um was absolutely huge. And so I think the first thing that you there is just a lot of I think the later stage rounds are going to start accelerating again as a folks are just much more optimistic that there will be exit paths.

I don't think I can go anywhere back to wear twenty. The twenty one rounds were because just a fundamental like P, E issues have changed and people just aren't going to Price prime tech starts the way that they did before. But this is at least going to give some hope to folks that like there is a path for exit liquidity.

There we had head up. yeah. I mean.

I think that it's not just in a can I I have a lot of insight, some of which is confidential. So I can rental talk about IT, but what I can say is there are at least a dozen of the top financial services companies in the world that considered anything that had the word crypto in IT as radioactive from an m and a point of view. And because they were afraid of regulatory blow back and that change last night, that is non trivial in the extreme.

Lena con is extremely relevant, as this was just said, relative to tech startups, but now understand something that tech startups themselves were kind of pushed not to into. If your AI, you didn't want to integrate with cyp dou because you were worried about being depicted. And that ended last night, while IT will end in, in january.

But you understand the point, mean law firms for crime takes for being deep bank because they they serve crypt of clients. Don't underestimate the amount of of dry powder and tinder in the united states. For builders, that was just unleased and ma is a big part of IT because you can exit into the market and get liquidity and you can exit via takeover.

IT puts you in an interesting position. I mean, look, I have a lot of personal experience with this. You are sitting as the chairman of the company who will is is profitable, growing. And i'm pretty confident that our capital market a access literally just I don't know what the number is, but my guess is up by in order or two orders of magical ude. And I think that's the same for other firms that are creating value. I I think IT is a very big deal and and I think the in a country thing about you know, I just the biggest thing that he did that pissed me off was blocking spirit merging with jet blue because IT meant that you, that spirits roots in in the northeast .

that go to free water on .

your the consequences, so many, so many consequences of that. But I agree with Donna. I think that that the overall impact, whether is just her, but the the some total of all of this, is going to be a very big deal for the start up ecosystem in the united states.

And by the way, don't underestimate the virtual impossibility now of having to worry about a master capital gain, tax increase or potentially people were floating in the idea of getting rid of the U. S. B.

S. For those who are in in start up world. You know what I mean by that? I mean, there are some major tax incentives that, uh, we're going to be taken away.

That will, of course, will not be taken away now. And that that's another big reason that, that ecosystem will go. I think it's probably people are underestimated when we look back, uh, four years from now, underestimated the impact of that on the overall economy. Because he does that takes time for that to show up. But I but show up IT will.

Directly your .

hand up yeah I just wanted .

to pick everyone's brain very quickly um on a trm kind of promise and uh .

uh the obviously influence .

of R F K jia um on a bitcoin strategic reserve when we you know obviously when I look like trump was gonna in the election early this morning, european and time, I started going over all the promises you made at the bitcoin conference in national and this was one of them, right, like the two hundred and twenty thousand bitcoin that the U. S.

Government kind of has custody of at the moment if a trump follows through on this promise and and they they agree to not sell and make IT very publicly known that this is part of a strategic reserve or a stockpile. What if you wanna call IT? Is that signal to the rest of the world that bitcoin is digital gold now? And could that be the real catalyst for like nation state adoption of bit coins? Has been a lot of right, rick, but elsa vo is the only country that's really doing IT property. Bar rains got a lot of bitcoin as well. But I mean, is that going to be the real run? Is that going to be the real big cable run if IT actually happens?

Of course, like every central bank in the world and have a bit point of baLances of the united states actually does but I think this is one of those way and see situations in my mind. Go at Simon .

you i'd say uh for amErica um a commitment to not sell dom is um nothing um it's it's signal um but you d actually want a commitment to purchase them, increase the position and actually recognize IT as an integration of the strategy. So yet there is a bill right now. So maybe you guys could let me know what would need to happen for that bill to be action or was the next steps on .

that after well, I made to happen and duck but long as obviously proposed IT right after that speech in speech nation. So I suppose section fresh and or be signed into law but .

you know I know I know .

the you know representatives and uh to do at the old school way but I actually you know is possible with if everything is read depending on how much of the grounds well, IT gets and get I think IT would be uh, IT is I like .

that would be huge. I think something or anything like.

no, I don't think so. It's just get get in line. And you know when they're decided to bring you up, they decide to bring you up. I can't imagine at the top of the legislate of agenda, but could happen.

I think what's interesting is David daily talking about being in conversation with uh, trust administration in the past month, sort of building, uh, a strategy on how they would drive this sort of bitcoin adoption narrative. You've got R, S, K there on on stage. He was saying, no, if I was placed and I would tell us to a acquire up to three million bitcoin and then that way they have a real sort of, uh, you know, stranglehold on the supply of bitch coin. I mean, in that scenario, then every you know Michael sale is wait, dream of whatever IT is per bitcoin .

Price comes to flush to ten, fifty and twenty percent of the supply of big guy. I don't think that you can even possibly be in the father what that does to the Price when every central bank is battling to get IT. But I guess cross that bridge when we come to IT. Um I I would love to see a some of the even less or promises sort of come into fruition first then you had your hand up before a school yeah .

you know I just would I know we're happening up, but I would be remiss to say just as an industry, I think one of the biggest winners to just over the last few weeks has been these prediction markets, telephone Polly market particularly sell pulsars. A lot of pollsters credibility ties completely in ruins, I think after last night. And I think these prediction platforms have really been leading the way. And so am so glad that he kills, he was able to get out there, at least for the united states of citizens. Wanna just give a shota to a to their teams over there with a ara luana ara and public market?

Yeah, yeah. You know, within the last two weeks, Robin hood actually added those predictive markets as well, which were somewhat popular. So uh, that's going to definitely become sort of mainstream.

Ah I know we're kind of getting towards time here did make up games for free metal man, ah I know you're with john, my snide tma. John didn't ah unfortunate one of the few you know casually know otherwise. Very, very favorable.

Uh I think outcome for the the cyp to industry IT was always a long shot. You did so much, uh, to support him. What was the what was the vibe like?

Thanks god. Yeah coming to you from my boston hotel, still hydrating. Uh, I I have to say that party was in distinguish a Victory party was a lot of smiles, huggs, cheers, pipes h everybody felt felt good. And I think for good reason, i'll just keep a quick run down on the numbers here in massachusets percent of the electors are registered republicans.

But what I A message to use skype was, the real question here is, will john out run trump? And the numbers are, trump scored thirty six percent and john scored eighty percent, a lot closer than anybody are expected. And what people need to understand is john did IT all on his own.

John got no support from the mitt connel republican senator oral campaign n committee. He got no support from fair shake. Um and so he was not really able to put up the commercials that you need to do to close you know to introduce yourself. I mean, let's face IT he move to massachuset about at the time he declared he was running for senate.

He was unknown you know was a miracle that he won the primary with sixty five percent and that he got forty percent on a base of eight percent republicans is is, I think the reason people were celebrating, because the outer trump, and that really means that he has a future. And I want to cavy at this. He has a future if he wants one. I don't know, I don't speak for him and what might the future hold, but people saw him in action. They saw what a skilled debater he is, they saw what a genuine human being he is. Um and so you know I feel like i'd let him down in terms of raising the money he needed to get his story out because you really can't find anybody who says, you know what i've read john's block or I learn from my neighbor this guys back story and i'm still voting for warrant that person doesn't exist and we just were unable to raise the money um to um the except that we needed to get his message everything voter in but as well as I concerned, IT was a huge Victory IT was a great night, a great celebration of democracy and I just so grilled um to have been able to to participate in IT.

Yeah, I did. You see people floating john for S. C. C. chairman?

yes. I so so the the party was a lot of people who were new to politics never been involved in anything, but really had bought into john story and who john was. But then there were a few pros.

That's how these parties work, that they go to every party, you know, every year. And Normally they watch the sacco fiction, al land lose by about thirty to thirty three percent to markey or warrant. And so this was a different, you know the gap is probably going to come in under twenty percent. But what they're talking they were talking about governor and they were talking about mark, who's up in twenty twenty six. Um I have no idea you know if john has any interest in that, but there is a real feeling of a movement behind john and I say that because of the level of commitment to him as a person that is something I have I rarely have ever seen and so um IT was just an exciting night, honest lay and I don't know if there's going to be a future, but if if there is a future run for something, i'm certainly down for IT myself. And I hope next time uh, that we get a little bit more support a you know from the big players in .

the crypto to industry, I think the ball is rolling in that direction, right? I think this moments and to be an incredible few years, the dusty .

um guys at all .

yet uh time for today, obviously going to be a lot of fun washing what the market does in the coming days, weeks, months and years.

Um once again, regardless of your political learnings, I don't think that there's much argument that the crypto industry is in a much Better place the night dids and I was yesterday and that's something you know for this community to certainly hang your head on even if that's only a silver lining for you and you are supporting obviously, Harris or or the other side. Uh, that's all happy today. We will obviously be back tomorrow, ten fifteen A M eastern standard time.

Thanks for all the guess. Always incredible. Everybody in the audience. I want to get explore you, beg you, please, that you follow all of the people on this incredible panel.

We work hard to create the best guess, yeah, the most respected voices. And you should be following them as well. That's all we got. See you guys tomorrow. thanks.