Trump Goes All-In Crypto | Bitcoin To Break All Time High
44:58 Share

Trump continues to go all in crypto. We're gone to tell you what he has planned now and why that is the title today. And of course, bitcoin pushing once again to make a new all time high.

One hundred thousand, not looking this at all. Is that coming sooner, we're going to have to wait a while. We're going to talk everything, bitcoin regulation, mro, you know the drill, of course, when the Andrew parish and our special guest today, the amazing hail let IT you guys want to stick around. Let's go.

What is up everybody? Scott ka, also known as the wolf of all streets. Before we get started, please subscribe to the channel.

And gently smacked that like button. Yes, guys, we have to keep talking about politics even after the election. I know I said that I could not wait for IT to be over, so I ouldn't have to talk about IT. But that was just a pipe dream because it's really still the only thing that there is to talk about, regardless of you are feelings about what happened in the election, going to bring on the guest now, hay and Andrew hay, great to have back Andrew, as always.

And to say, I mean, this is it's crazy.

Everything is happening right now. First of all, we can start here with the fact that we've got truth, social or the Operating group from media technology group looking to purchase the exchange back that B A K K T. I remember in my two thousand and nineteen making backs, that s up jokes constantly.

The biggest news we had in cyp to ever, this was the level of institutional wall street adoption we had was at this exchange back was going to launch and IT was back by the new orkis stock exchange. And institutions were here, and it's been like five years and were talking about of being the trump media group. But the underlying story clearly here is that trump is consolidating into the space. He really wants to see this happened. And if they own an exchange, it's big netters, right?

He is crazy. I mean, this is the first time we've seen a presidential election talk so much about bitcoin and just be so informed about the industry, like know who the key players are, talk about exchanges. So I mean, IT is crazy. And I think if um if he gets involved in exchange, she's really going to see the regular ory headaches that these companies comply with um and that might help some of the you know regulating climate that we think is changing in a positive way. And might IT might actually give him hands on experience into areas that could could be eased up on a little bit.

How, Andrew, how many tokens is trump to launch if you want an exchange? How many? I think it's gonna .

like it's to be try it's going to be trump ed up fun on back. okay. So um i'm i'm just really struck by the truth of the regulatory shift literally moments after IT was known that that electoral college Victory as well as popular for Victory.

And you're seeing IT play out on a daily basis, right? So there was this uh a sort of understood belief that the coin options are coming on the etf. But you know we had a you know a bit wise guy on a jeff park maybe three or four weeks ago.

And IT was his belief as an insiders, as anybody can be, that that was gonna en march of next year. Like okay, though, they'll be ready to trade march of next year. They're trading today.

Today they're trading, right? So the O, C, C. And in the likes of regulatory agencies, just move immediately, quickly and say, well, there's no reason to hold this back. And then Robert .

had literally just relisted a bunch of things that they had to listen and listing and listing ripple, which they had never listed right because of the regulatory and clarity tells you everything you need to know. Nobody y's waiting for new c chairman. Nobody is waiting for a new lead at the C F, T. C. They are also OK. We're good.

yes. So so the you know lame duck leadership at all of those spots, they're not gone to do anything. They're not gone to jump in and say, hey, rod, you can do that.

Okay, sure. Show me in the in the next forty five days. Let's see how that goes. So um yeah IT is remarkable. The um x expected regulatory shift in how companies are acting uh very, very quickly.

Also, I find IT interesting that black rox I did is the first to get options, the first without question um and others will follow yeah who could have imagined um that Larry may have his finger on a proverbial scale somewhere um so that happens so yeah IT is IT is unique um to watch in real time. The regulatory landscape dramatically shift from huge, huge defense help help help save our company from regulators and legal chAllenges that organ neither shut us down or have a on life support to full steam ahead. How much can we actually do? Isn't this fun in about a three week period?

There is already this doman effect happening, especially with the S C C. With these like the industry had getting winds against scary gangster or what whether I was very scale or some of the um violence that coin base s and exchanges have won against the S C C. Like there was already of this domino effect happening and then this was sort of the last domino to fall and I think all the sort of um gust was out of gargle.

Er like he doesn't have his sales, don't have any wins in them anymore, doesn't have anything pushing him to feel in powered. And I tweet that after the election that that was sort of my biggest take away was that I was nice to see regulators be just a little bit humble because the industry really has tried to work with these regulators. If if we were in an industry where all these exchanges had said, no, we don't want to come in to talk to, no, we don't want to get a broken dealer and try to comply, that would be one thing.

But the industry really has so for for IT to be sort of a wake up call has been really refreshing. And as in a turney, I was talking to Andrew about this the other day. Um I I have a whole new sense of like invigoration because I feel like I can represent clients and not just tell them no. We were lawyers were being put in a really hard position to like we I can't waive a magic one and tell you there is no risk because everyone's at risk. And now IT feels like that is really changing.

And us I ask you that specifically here, the obviously proud and you guys have a huge cypher practice, right? And and and I have to imagine that you are trying to navigate this regular our environment that was changing on a data day basis for all of your clients. And your point just having to tell them no yeah I mean, we don't know enough.

So no is the safe answer from your lawyer. I mean, how much is this gonna for? You mean, we have trump apparently floating the idea that there be no capital gains on any egypt dt launched in the united states, which means every egyptian company on the planet .

that is going to open an office here. IT makes you so much. I mean, when I first got into the space, I was at silver gate bank and uh even though was early on, there was still the they were still excitement and like proactive regulations, exchanges, getting money, transmit licenses and look and launching new products and even you know, new ork.

The fs got so much ship for the bit license, but they were still interacting with company and figuring out what they could approve. And so like if we can get back to the at where it's more proactive building in the united states, that's just gonna be, I mean, obviously amazing for clients. But I just makes my life and job Better too because i'm A i've been a bit corner forever like I want to see the yeah I want .

to see literally get .

to be fun yeah you know and the and these companies spend so much money on legal fees. And then to tell them know the last thing, I want to tell them as the united states attorney is, oh, go to a different, you know, go offshore block the U. S.

So I think this is going to change everything. I'm already seen that. I think that just the yeah 就是 就是 the momentum is shifted completely over the last few weeks。 It's crazy.

One can make the case that that of the tea leafs are and certainly a lawyer can speak to t leaves. It's gonna not their job to t are okay, you know trumps lot launched the corner. two.

So that's probably the bar of what you're allowed to do on a go forward basis. So you know act as if like if you if you want to do these things well, you know the president t is is has done X, Y and z. So you're probably good if you if you wanted pull something like that off again. It's it's in real time watching um you know gines ler write a dear john letter h last week that was just full of know step that didn't happen and not reality um hey I I I approved the bit coin etf. You know like you are formed .

to do that. Yeah, except that I won. Hey guys, i'm taking my ball.

I'm going home. My god. That was the most like reluctant acceptance in history. Fun to your point. History will probably remember IT as their ages will approve these and his narrative. And the governments will be that we waited until a time when he was appropriate.

The asset classes was large enough and these assets were safe enough, and we had visited studies to approve these things. I mean, we know how history will remember IT. Gaza will and extricated be tied to the approval of the big quiz body. Jeff, for Better.

for worse will remember and we ve all forgotten a uh because I I literally just remember red IT like the affery um etf were dead absolute than dead. And then boom, inside a twenty four hours there was a political shift and up they're not dead. We're now going to approve them.

And all of the issues were like, what are you talk to about your lawyers were pending, uh, denial letters last week and we haven't done and outs of work on these in months. I talk to to issue work like we're going to play catch up. I don't know how in the world these are going to be listed in the next couple of weeks like that's that's impossible.

And so again, you know forgetting what has happened and to your point, Scott, that in the end history will be like, yeah, again, there was a way that proved that start. So so you know, three years from now, we're gonna have a mundane etf. I started .

there is .

no moody.

but it's a little further down the asset size curve that I would expected for people to be jump in the gun on. But IT does that. They give you a hint as to what likely coming.

And now this was gone, right? It's a matter of time. He sort of had that reluctant speech the other day.

We said, IT has the a pleasure working with all of you in an honor and we know that he's going to leave, right? So we have been gallagher from Robert hood being floated as a potential. But I saw yesterday now brian Brooks.

Who is ahead of the occ, went from CEO bince U. S. There for a while, not for very long. I think he lasted about six years before he was done to the hood.

But either way, I mean, you're talking about one of the very early progression of people potentially also coming back. I mean, hailey and they're all this figure head at this point. We know what's coming, right? I mean, any of them could be the head. We know what the general policy direction is going to be. I think is .

a yeah I mean, I think that no matter who gets in that position, I mean, for a long time I was I was saying hoping that would be has her purse. I think I heard that she's not interested in the role. Um but I think any of those um options are wonderful and very informed on the space. I mean, I worked with brian Brooks at coin base and bias, but I think you would I mean he would be my top choice. I think he's seen seen at all.

And at the O C, C was very proactive but but thoughtful too on how there can how you national chartered banks could custody and be involved in bitcoin and stable coin so you know I don't think that he's so pro bitcoin or crypto o that he caution to the wind and I do think that's important because um you know going back to what we are just talking about, I think we're going to see a huge decrease in sort of like A C C. Enforcement and an enforcement in general from regulators. But that still doesn't prevent there are being harm from my actual fraud.

And more we're more more and then more class actions, more you know personal lawsuits. Um and so yeah I think I think just having someone in that role that is informed but thoughtful because I always thought you know the S C C actually could be a good regulator to prevent fraud fraud, not unregistered securities, not these you know sort of registration type violations. Fraud go after soon.

As I ve very highly respected agency for most of its existence, I remember the nine, seven years in particular, like they were highly touted, highly respected, largely doing the right thing. And we are going to if we open the doors to everything crypto in the united states, there will be more raught yeah are well, I mean, IT, it's just a oh you know it's we've seen the nigerian prince and the fake web stakes winners and the calling your grandmother and telling her that the irs is coming for them except all these ear encysted right yes.

And so you know if think about if that was more of the focus and even the F T X is of the world had been you know caught sooner um by any regulator. Um you know I don't think there's anyone in the space that's profile ud. They pro freedom and free and pro you know open markets and crypto and bitcoin.

And um but none of us want fraud and like actual consumer harm and people getting scammed out of stuff for, like you said, elder elder abuse like so that my hope is that a really informed um person in that role and not that garages there wasn't. I think you just had a different agenda, to be honest but someone with the agenda of legitimate, you know helping this industry be legitimate, get rid of the fraud an activity and making clear regulations for the companies that do you want to be no on the up and up in the industry. I think that that'll be really great for everyone.

Well, where at a point where markets uh are almost demanding um and opening up of of of crypto as as an asset class as opposed to being you know going this is crypto asset security like those days are over um and you have again, we we had an announcement, maybe we can half ago that blackrock announced what there are you're using for their bittle platform, right?

Their bittle platform is on appose and avh and polygon and something else and something else and it's like, okay, you know several of those were classified as you know problematic and should be removed from uh exchanges and now you know black rock and and Larry fink er announcing that their building systems and building rails for toga ized real world assets and potential exchanges in texas, by the way, um to run twenty four seven so that that that is um the markets speaking um and and giving permission um in a in a passive way that crypto here stay and it's gonna grow um and what we all thought I would and could and should be um four, five, six years ago include s to all of us here on the show because we had the foresight to know that you know there's a future here. That's not just stupidity. It's actually there are use cases and the ability to to move the world of finance forward.

Um no, that's happening right now in real time and being announce. And you know all right, let's let's remove these tiny, tiny guard rails of bitcoin in the theory. But the only thing is basically legal, right? That's now gone to be widened and you know, real stuff is going to be built. And there's more evidence .

this is all happening. Haley, you mentioned one, brian, from coin basis used to work gradual. Here's another brian from coin base for the bigger name.

Brian, i'm start trumped to meet private with coin base CEO. Brian armstrong. You may remember how many times brian armstrong tried to get meeting with gear ensor and couldn't even get in the door.

S, P, F, good. But you might remember that brian would complain about this all the time. Listen, you're regulating us.

You have enforcement action. I can even sit down with you to see what is or is not legal, or what is not regulated. Totally approved for me to do well. The meeting between tramper and brian armstrong will mark the first time that you have met. And as comes as trump t continues to feel out as cabinet and oh senior post trump formally egypt skeptic has turned into a vocal supporter of the administration and they do is expected to discuss personal appointments for the second administration.

So you may remember in nashville, and since trump said i'm going to a point, egypt to council, I think that one of the things that people are so positive about on the trump administration, whether they like him or not, is that IT seems like he's going to at least attempt to a point people in positions who are Younger, more knowledgeable, and let them run with IT. And IT seems like going and sitting down with brian armstrong and saying, hey, men who should be in the cabinet, who should we be appointing for various roles, who should be running egypt on the united days when you already have rk laon background is sound. Literally everybody that's been appointed as procris pt, already. I mean, this is just a huge title shift, in my opinion, of the government's approach. I know we keeps saying IT, the regulators, everything, but there's so much evidence that they're trying to do the right thing for .

our industry. Specifically, what you can you can ignore, and this is politics, one or one, you can ignore the money that was spent in this cycle by forty five million.

just forty nine million of fair shake from coin base alone.

by the way. So so it's impossible to ignore that. It's impossible to ignore not only a huge a number like that and then in totality, the aggregate the number was much bigger. Um you can ignore that and you can also ignore knowing that it's going to get larger.

Um so you know that's probably the foundation of the proscriptive stance beyond freedom um and you know probably also um the the part of the reasoning behind the meeting with with brian and strong, it's it's really interesting. It's playing out in real time. Um and for us says, you know let's call IT you know industry insiders, it's it's really fun to watch. It's really it's really something you .

know IT is and I think that um like the the ability to embrace this industry and allow IT to grow wall has to do with education. So like industry insiders, we have a responsibility to help educate whether it's people that you speaking in from the congress or go talk with the president. Like though this is not a super easy industry to just dip your toe to understand at all.

And so the people that are informing those dialogues are really important, right? Like you mention the S, C C meeting with with F, T X and sam bank man free. Maybe that wasn't the best person to be meeting with, educating and forming narratives, looking back right hind sights, twenty twenty.

But I mean, someone like brian armstrong and coin base, again, I worked there. I'm sure i'm bias. But they you know, a lot of people referred to these exchanges sort of like casinos now. But coin base got so many earlier bitcoin adopters into the space, has chugged along getting all of the you know, mt. S in the early days figuring out the banking issues, am becoming a trust, you know, company doing custody.

I remember when they were involved in helping educate and even maybe on board involved with tesla when tesla was looking to accept payments like they've chugged along gone public um started from you know similar to a jeff bazo story like started from from a garage or a basement and turn this into this huge public company um all well know trying to comply with regulations. So you know, I think that a lot of companies like coin base that have been around for a long time, those are the perfect people to explain the journey and the environment and the players in the industry. And so that that educational components huge to to understanding how to embrace this, you know huge industry and IT changes every day, right? Defy is just this constantly evolving.

There's new products. It's it's a lot for for the government or regulators to wrap their hands around. So I you know I think that i'm sure a lot came from that conversation well.

And generally speaking, um you know our industry moves at light. You know that the speed of light, I mean, I just moves so, so fast um and that's very, very difficult for government government agencies to get their hands around because they move at the opposite face literally um so you this type of of meeting in what comes of IT you the foundations of which are not only political in nature based on uh, the contributions that happened, but also coin basis currently still remains the custody partner of nine of the eleven bitcoin t that have taken in you know h ninety billion dollars almost uh in totally U M as IT stands right now.

I think um and I and I think the inflows are you know close to almost fifty uh for the first eleven months, which is wild um so there is a huge title wave of an industry that now exists in and is part of the fabric of traditional finance um and is growing at a pace with which nobody expected and then at the same time made huge roads into. Um you getting proscriptive candidates and elected this cycle and so you that you can't ignore you just can't ignore IT if you're um a political being um and this is the nature of washington D C. No matter who um is is sitting at the top um in the right. So you you're seeing the consequences, so to speak, of an election that was influence by, you know the proper pto.

Well, hey, I know that you're parly have to go a couple minutes because you have a job as a lawyer. That's my way. Easy now with all this, but how do you view the best case scenario here? You know, framing, let's say I know that they have about two years to legislation gulati or you know there's a another election and we usually see kind of dependence and swing at least in one house. But seeing all these appointment, seeing all these meeting, seeing this news about that buying backed or I mean, is is going to be a free for all, is this I sort of view IT as like we've talked a lot about how bullish script is and how amazing IT is. Like this is kind our chance to prove IT?

Yeah, I think so. I mean, I might like best k scenario. There's been a lot of talk recently about choke point two point o of the banking sector. I mean, I think the number one area that the industry can you know see a lot of improvement on is just the the relationships of things, which is so ironic because I know the idea behind bitcoin as be your own bank and we don't need banks and sort of getting out of the traditional system.

But you know, these companies that have had trouble with banking, the efforts that brian Brooks made when he was F O C C, that once he left in the administration changed. They kind of went fully back on everything he had done about national banks being able to do all these things with the coin. Like I think that's a really exciting direction.

I think what we're seen with like the bitcoin spot etf and the options is just yet this this continuation of more traditional financial instruments coming into bitcoin and that helping adoption in general, right, because that helps businesses that want to get in. You know, if you take options, for example, that allows her a lot of like Price discovery, hedging against the market volatility. IT allows businesses that want to accept bitcoin to have different strategies to do so.

Um and so yeah, I think that the direction were headed with that and then just um companies being able to you know a lot of time as people think that the S C C only sort of burdened all coins, but IT was the S C C that you know came down on all these landing products like that different changes were trying to launch and the bitcoin etf, which by the way you wink of us put out the first application for that in two thousand and thirteen yes, that too that you know that's ten years of effort. So you know yeah I think I think the pension is swing to the extreme, but I don't think I will ever swing back to um the years of sort of term oil that this industry had and crime banks being shut down, um enforcement actions all over the place to very legitimate businesses. I just think those days are done um and that's great. I mean.

it's to see we had that you know first ignore you, first they laugh at you, then they fight you, then you win no, I think we all admitted we were then they fight you face but I think IT sort of surreal to be in that then that then you win this because there was a certainly no guarantee that was going to happen. But dear point, I think that very far, and maybe we will get even to lose, and then we will come back to some equilibrium, a very reasonable sort of regulation legislation. But I do view this as the time to get things on the book.

Well, next, that's even a political cussion discussion too, like there's been there's been all sorts of political regimes that were in fight mode to to get elected. But when then once they get elected.

do they know how .

to govern? They may know how I can always ssa's things. And yeah within the structure of of what uh you know our government is that A A different question? So that that will be the task going forward with um yeah with crypto um can IT govern itself in a meaningful way so as to not ruin its reputation is almost that before .

with the f right.

Can we avoid those types of situations?

And to go for Andrew, go back to her life as a lawyer, I follow, hey, land and B2C, you guys get you on .

here a lot more off and it's a great OK.

So I mean.

I think the option that .

this new cycle is just blowing my mind, i'm sorry, just so much. I mean, you just took through these things every day. Spot options today. No body deal like for six months like that would be the most poole's thing ever right now yeah it's by an exchange. Cool is only fine like it's just, yes so real hard to keep a microstrip gic this you bought four billion and then is raising another one point two billion on the exact same day while also raising forty two billion yeah.

and this is all coming. These used to be like if we got one of those announcements in a month, we'd be all pumped up and we'd live off of that high for two to three weeks. These all happened within, let's call IT, a thirty six .

hour period right there. Hit three hundred the last friday. Okay, now friday the is right.

H monday the eleven. Tuesday, monday the eleven. It's tuesday, the nineteen eighth. It's been eight days about to have four hundred box. It's a thirty, thirty three percent move potentially on microstrip gy in a week after IT was at two hundred two weeks before that.

yeah. So and we've seen the requisite moves a bit coin as well, right? So I think I put on a tweet, yes, yesterday, maybe sixty days ago, the coin was at or underneath sixty k it's at ninety one plus right now.

Um you know when the shackles are removed, you the assets are able to run a little faster. And you know that that kind of where we're at, like where do we go from here? Where does the industry go from here?

Um and the leaders of the industry have run like crazy in the last four to six weeks. Um they just have and uh people that own those assets have been you exceptionally please. Um now I I think, by the way, i'm not a new microstrip gy has been a great you know equity to own.

I think there's a there's a pocket of the industry that has gotten a little bit weird about microstrip gy and you know making IT their entire identity. You know there's there's a couple groups on what's called twitter slash crypto. Twitter works irresponsibly long .

microstrip .

gy and go down can go ally impossible, right? There's no possible downside. Um those usually go bad at some point um and which can just .

be one huge flash. I mean, literally microscopic can go from here to three hundred and back to here and all those people would be dead and broke.

Yes, so that's my point. Like right. So so if you if you're that over the moon about microstrip gy, because they own in, own back in and keep buying and why not just don't be I know I know um I know there's some new ones there and that's fine.

Um you no great empowerment. Michael sailor, okay, cool. That's good. But there's been there's been you know bitcoin jesus guys along the way and he just happens to be the latest um pretty .

good at IT though.

So we'll see no no doubt do that IT no doubt to figure out, but the those people have time ended up well for them, so no are .

going to find out. Hardly mentioned obviously the etf and the fact that the first people to file for them were the wink of all ins twins that looked like that. I may eluted to last right now.

I was supposed to be, you're going to new york. I was supposed to be there today. I got really scheduled tomorrow.

I couldn't go tomorrow. Yes, still happening. But you are going to be in new york because of this amazing thing right here.

This is not on the arch public website. This is on the geri website. Here IT is reached IT we sprinkled IT. We've lightly talked about IT. We try public yeah, but gi, this is officially launched now so that you can dollar cost average into bitcoin like a chat, like a sailor, if you will get the best Prices in the select time periods that you choose with much less fees.

So basically, if you want two dollar cost averaging into the quent, which you do because you're here, and if you are here and don't think you should be going to go somewhere else in wrong place, sorry, you can stay. I love you. Yes, it's going to get you the best Price over time. You're gonna do two, three, four, five percent Better with time and that's going to mean a lot down the road.

Yeah you know this tool is extraordinary diverse um so there there's two words that you need to know for our bitcoin algorithm. It's intelligence and instance and and what does that mean? So the ability for you to flip a switch when you're using our tool that is going to search for the best Price inside a whatever time frame you've given IT, you can time frame all the way down to thirty seconds or a minute or five minutes.

And if you're buying ten dollars a bit coin every five minutes, it's onna search for the best uh, execution for you inside of that five minute time frame. So there is the intelligence, the other part about this, which is different than every other tool that exist on exchanges or off exchanges anywhere, is when you're using our tool. If you want to set up seven, ten, twelve, three, eighteen different ways that you're buying bitcoin, you can do that.

So I went to buy ten dollars every hour. I wanted buy a thousand dollars every week, I want to buy a hundred dollars once a day, and I wants to buy fifty books every four hours. You can set up all of those instances inside of our tool, and they are all execute for you.

The other thing to note, if you use coin base and probably eighty percent of your audience does because that's the nature of coin base right now, you're going to a get a fifty percent discount on Prices with geri in our tool that matters that's meaningful. Um crypto o is still known as being wildly expensive uh versus traditional markets in terms of the cost associated with buying and selling uh assets. So you know our tool is diverse. Our tool is institutional grade. Our tool is also free for the first ninety days.

So only nine box after that. This is not like the others. Yeah this is um this is there's .

there's nothing else like IT out there. Um I can say that with enormous confidence because of the intelligence and instances, the ability to use this tool. Um it's pretty, it's pretty amazing. It's pretty awesome.

So people are saying you can do that on your own D C. A. yourself.

And not so busy. They're missing the point. They're missing the point like that. The whole point of automating something is that, that you get the best Price, the including when you're sleeping, when you're on vacation, when you hurt your ankle and you're in hospital, that shouldn't have, you know. So I believe .

that you can do Better. I dare people to ChatGPT the most, the ten most uh, positive quotes about bitcoin. And what you're gonna find is two thousand thousand, two thousand fifteen, two thousand seventeen, two thousand twenty, two thousand twenty one.

Did you buy bitcoin in those moments? Or did you wait? Or did you hesitate? The whole point of this tool is its automated.

You're not doing IT yourself. okay. And so um yeah IT is a is a powerful tool. IT does IT for you. You don't have to make that decision on your own and be so Price sensitive, right?

The reason why people watch bitcoin Price levels like a hog is because they slash bought a hundred grand of IT at fifty seven thousand and then he went to thirteen when S, B, F, screw us all and you're like never going to make my money back, right? This avoids all of that. And uh so yeah school stuff. Um we love the skeptics because happy to see them wrong. Um it's going to be this is something that's going to be big with us, ross, that only germany ze um platform, but additional assets as we ward.

So but I specifically, although i'm to all the guvera to be using this, but like this is the kind of thing that these sailors and people who are trying to buy billions of dollars of bit point and not move the market and get the best Price are doing, and they're paying much higher fees to do IT, right? If we're talking about the sailor strategy, if you think Michael sailor or somebody on his behalf is sitting in front of a laptop, twenty four, seven, three, sixty five, looking for ways to buy a billion dollars on the exchange of bacon without moving the Price and to get the best Price and that persons doing that as a charitable um we're off IT, then you are literally smoking rops and send some, but that's that's not how this works, guys. Yes no.

that the reason why we call IT an institutional great tool, IT is an institution of great tool.

You are over the counter that's not sure. I think that they execute complex strategy, least initially they did on coin base.

Yeah so so you can smash by one point five billion dollars of uh A A bitcoin and get a reasonable Price. You just you can't do IT, you just can't. So um yeah no, I get IT, we we love the tool.

German, I love the tool. Um we had tons and tons of people sign up for yesterday. The same thing will happen a day.

And for us, it's about you. When was the first time you regretted not buying bitcoin? And everybody remembers that moment. This tool allows you to forget those moments on a forever basis and to automate your purchases down to every thirty seconds. And all, by the way, if you are human, you can have sit there.

And by by bitcoin, every thirty seconds, your finger can't move that fans so um yeah we love the to all and we love where is added and um listen our products on the fee outside um that have crushed, right. So just to ten thousand dollar portfolio was up more than fifty percent. We start to talk IT about IT.

So we have a long history of creating algorithm tools that people end up loving and use IT. Um and so in the same way here, we're going to do IT on this side of the letter and allow people that are correct customers to take the returns that they're generating on the fiat side with those returns into a bit going algo and further compound those returns. So um the strategies that work just pivoting real quick .

before I let you go so that I want to talk about you. Happy to be here. So this Robin hood news broke today. People may not have seen this, but Robert, to require trade pmr for three hundred million to boost advisory business.

I'm telling you about this because trade pmr, as one of my best friends, he was like the last standing holy, individually owned ra in the country, uh, is a local from games veil florida, my friend rob. And this is a huge congratulations because, you know, this is a absolutely massive thing for him and a massive thing for Robin hood. It's funny because obviously this was all N D.

A. Nobody know about IT, myself included. You know, I had hinted, had been trying to about sell in the past.

But and we were sitting at a dinner in various with my goal ford and James lavis h and they were sitting here, and I didn't realize why my friend rob, I could tell he was like dying at dinner because they keep saying, when we need something, is going to be a crossover between encrypt and trade. Five is going to end the years like I don't know at the time. It's amazing now to see the news break and to understand why.

But Robin hood is effectively, as you look at this. So we saw obviously then relisting things. But I mean, there are launch credit card desktop trading.

They're becoming in R I A. This is a three hundred billion three hundred, uh, right now. So a three hundred million doll deal, but I think trade him hours like forty billion. I can't remember thirty or forty forty billion in assets yeah if Robin IT also becomes a registered investment advisor owning this and then a custodian. So this is a custodian, well, which is the big news. I mean, Robin hood outside of like i'm super proud of my friend and super thrilled for him like what Robin hood is doing here to consolidate all financial services with cyp to than being a huge part of that is not to be .

so just that yeah Robin hood is is um there grabbing an opportunity here? So in the past five years the custody business for R I S which by the way is the biggest portion of financial advice was in the country. Not all advisors work at maria in G B S, more its only in fact the much smaller portion advisers work at those firms.

R I S are ubiquitous. So R I S you know had like six or seven or even eight custodians to choose from to be the underpinning of their business that the clear trades through a that's consolidating to about three um and because job and fidelity bought a couple, just get solid, right? So Robin hood seeing an opportunity to get into that .

business to pete, right? That and this is how you take truck out of jobs business.

not just on trading fees and that allows .

institutions to his Robin hood.

That's correct. That's correct. So this is a move to adult.

Uh, this is adult for a bit is what is is is a move to become A A custody action for R. I. S.

And by the way, Robin hood is well known from a branding standpoint. And so they will gain some traction. So the next three, four years, you'll see them as somebody that people choose to custody with.

Yes, I mean, people might not know, but you've know a little something .

about the R A business. I do just a sch, a sch.

Those who don't know, Andrew adviser hub, which basically was the defect to place for information conversation community around our is one day are you lowed to publicly share the sale story?

Yeah, yeah. I mean, yeah, one day we should get into that because it's quite interesting. There's no doubt when I sold the company and who I sold two um people that especially people that watch the show, that there four years and fifties they'll find IT absolutely fascinating.

We're going to do that one day. So good IT involves non pregnant strippers this is the buyer.

not me, is a cellar. But that that was the buyer was he was what i've heard IT probably .

three times now, and and it's still riveting. And when I watch other people here, and for the first time.

yes, so big.

we went to dinner and texas, and like, I had a bunch of my friends from home, they get the game over, yeah, just watching their reactions .

as I was Price gators, big win over. Unless you this this weekend. Now back from that.

No, what have how exactly what we saw in texas the last past the half time. But hey, what do you do? Are any final thoughts? Sen, anything less else? Should I just encourage? People had to, obviously arch public, technical change from the arch public, or your check in out on german.

I, but I, like he said, kind of ninety days to test the thing out anyways. So I think it's a good time for all you bitch about fees and costs and stuff. I just go see if you like IT if .

it's worker yeah it's great stuff. And and I just I just continue to be impressed with the Price action going um you know so IT has been no meaningful pull back from the nineties and that is that really is man. The strength of IT right now is really something and as .

naper is gonna keep his job. Napper was resigned for twenty twenty five two weeks ago already. So yes, I had already kept his job before they got slaughter at texas.

Anyway, that all we got you guys today check out ap underscore abogaz on twitter, even if he's slightly shadow by educationally, and obviously arch public dot comes check this out. And all the other algorithms that have been just absolutely smoking in the Marks since today. We oh, right, guys, it's all we got. thanks. under.