With grayscale rolling out the very First US xrp trust causing xrp ETF Speculation to heat up with black rock Releasing new statements on crypto Saying Bitcoin could serve as a hedge Against increasing Global disorder and Declining trust in governments Banks and Fiat currencies with PayPal increasing Their crypto support in a big way There's so much going on today smash the Like button subscribe to our channel to Stay up to date the presidential debate Happened the other night unfortunately Crypto wasn't one of the several Subjects they covered they're eating the Dogs the people that came in they're Eating the cats they're eating they're Eating the pets of the people that live There now unfortunately crypto was not Asked about nor was crypto mentioned and This is despite the fact that not only Do 50 million plus US citizens own Crypto but 34s of those crypto holders Will consider crypto when voting this November this is according to research Done by Gemini the vast majority of Crypto owners in the US according to you Guys plan to consider a candidate's Digital asset policies when they vote For the next president 73% what does consider mean though does It mean a top issue or it's just in the Back of their head I do not think it's Single issue right it's just consider so
What we found in our state of crypto Report is that 34s of us crypto holders Are considering policies for when they Go to to The Ballot Box this fall so Really interesting I don't think it's Single issue I think that's part of Their overall decision so there's a lot Of talk over what's going to happen to Crypto if Trump gets elected versus if Kamla gets elected Bernstein just Released a report saying Bitcoin hits 90k end of year if Trump wins versus Kamla winning Bitcoin could hit 30k I'm Not sure I'm not sure about these Numbers what do you think about these Numbers now Standard Charter Reports say Bitcoin could hit 125k if Trump wins Versus just 75k if kamla wins I tend to See this one more you tell me what you Think which one of these reports which One of these sets of numbers makes more Sense will prices increase more with one Candidate versus another and if so in Which direction I really like what Chainlink founder Sergey nazarov had to Say about this he works in crypto inside The US and globally he is doing it he Knows what's going on I put a lot of Weight into what he says here and I do Think his nuanced yet big picture Thoughts here are worth noting the Question is do us politics move crypto Prices listen I think it's very hard to Understand and predict what moves crypto
Prices in the shortterm I think people Have all kinds of you know short-term Theories in my view uh crypto adoption Is inevitable and so you basically Arrive at a world where the majority of The world's value is on blockchains Regardless I think if you have a presidential Candidate that's optimistic towards Crypto in the US then the US market Adopts crypto faster but crypto and Blockchains are a global uh technology And I think that eventually the Competition the global competition by Other countries using blockchains will Force all other countries including the United States to adopt it as quickly as Possible so I I think there will be a Difference in how the US adopts crypto Based on who the the president is but Fundamentally it's all really inevitable And it's now being driven more and more By countries outside the US that are Going to create a competitive Dynamic That will force the US market to adopt Blockchains even more so I I think there Will be um a significant impact but I I Don't think it'll fundamentally change Whether blockchains or cryptocurrency Gets adopted in the next 5 years here's The thing Bitcoin is just a baby yet Bitcoin is Unstoppable at this point Bitcoin keeps growing now most people Today who understand Bitcoin understand
That Bitcoin is a better version of gold Is there any reason Bitcoin couldn't be Let's say even just half of Gold's Market cap not even in the super long Term in the midterm Jack merer he's the CEO of a Bitcoin company he explains This here leaving gold bug Peter shiff Speechless the real problem with gold is That un fortunately it has to centralize The problem is that gold can't achieve Transaction finality without the help of A government or a central party meaning That when gold was operating in a local Economy and you can exchange the Physical coins with your direct Counterpart for your butcher your local Tailor your grosser whoever you were Exchanging with gold was great when the World needed to scale an economy in the Velocity of money larger than your local Economy gold failed US Gold failed us Because gold is just a bare physical Metal it does not carry a monetary Network what's the gold Network the gold Network are human beings and when you're Trying to transact in an economy of Billions of people globally you are Reliant on Central parties Banks Governments and it was for that reason That gold failed and it and it failed in A way that you can't operate a truly Free market when the concentrated Supply Is with those that you have to trust and So that's fundamentally what Bitcoin
Solved is that you are able to create a Scarce Bearer instrument and a network That can achieve finality in Transactional settlement without the Reliance on any government or Central Party maybe Donald Trump already Realizes this maybe this is one reason Donald Trump is more Pro crypto but what Everybody in the US government and those Making policies should realize is that Bitcoin or lack thereof is actually a National security concern for this Country the US needs a Bitcoin strategy Here's why Bitcoin is of National Security concern for this country Russia Is the world's second largest Bitcoin Mining Nation countries that operate on A Bitcoin standard from a perspective of Transacting and holding Bitcoin and Transact outside of the sanctions Environment they can transact outside of Government controls if the US does not Have a substantial amount of Bitcoin Mining on Shore they can be locked out And US companies can be locked out of Transacting their Bitcoin a strategic Ownership of block space is of a National security concern and that's why With 40% of global Bitcoin mining in the US the US must Maintain dominance not just in Bitcoin Mining but also in the holding of Bitcoin Assets in US companies whether They're ETFs whether they're Bitcoin
Mining companies whether it's micro Strategy but the US must maintain Dominance Because by the same reason the US holds 40% of the gold reserves in the World they can exert in fluence in Financial markets they have to do that As the world transitions to digital Currencies and in our final segment for Today again if you're interested in Making money in crypto and staying up Toate on everything subscribe to altcoin Daily turn notifications on so you can Be the first to comment but in our final Segment for today Caroline Ellison's Sentence is coming up it's coming soon They're about to sentence her you Remember Caroline Ellison yeah Absolutely could pull it off without my Math degree use very little math um use A lot of like uh Elementary School math Being comfortable with risk is very Important um we tend not to have things Like stop losses I think those aren't Necessarily great risk management tool Trying to think of a good example of a Trade where I've lost a ton of money um Well I don't know I probably don't want To go into specifics too much with that [Music] So the question is how much time should She get of course you know she was Working with prosecution against SPF she Turned on SPF so I guess her legal team Is requesting no sentence weird compared
To other Executives from FTX who got Some would say harsher sentences than What they thought they were going to get Listen to this report you tell me is This fair and I'll see you tomorrow Another sentencing in the FTX case is Around the corner Caroline Ellison Former Alam research CEO and Ex-girlfriend of former FTX CEO Sam Baitman freed is scheduled to have her Sentencing hearing on September 24th and Her attorneys are arguing that she Shouldn't get a prison sentence in a Filing submitted yesterday her attorneys Claim that Ellison poses no risk to Reoffend and point to her quote early Disclosure of the crimes her unmitigated Acceptance of responsibility for them And most importantly her extensive Cooperation with the government now in May Ryan Salem who was a former top Lieutenant at FTX was sentenced to S and A half years which was actually a Heavier sentence than the 5 to seven Years suggested by prosecutors and the 18 months requested by his defense Unlike Ellison Salem did not take the Stand during SP spf's trial but he had Also plad guilty to charges against him Now he was initially trying to void his Guilty plea or arguing that prosecutors Reneged on a deal to end an Investigation into his partner the Mother of his young child but he walked
Back that request still judge Kaplan Wants to hear about the since withdrawn Filing to the court now Salem who's due To begin serving a sentence on October 13th will be in court tomorrow and I'll Be there tracking the development so Stay tuned for coverage
