🚨HUGE XRP NEWS! GRAYSCALE RELAUNCHES XRP TRUST - ETF NEXT?!

Grayscale relaunches their XRP trust. This increases the odds of an XRP spot ETF being approved in the United States. This is very big. And Gary Gintzer is getting investigated by top republicans as a hearing is coming up and he's going to be in big trouble. Let's break it down. Hey everybody. Welcome into the thinking Crypto podcast, your home for cryptocurrency news and interviews. I'm your host, Tony Edward. On your way in, please hit that subscribe button as well as a thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please leave a five star rating and review. Folks, the breaking news. Grayscale has officially relaunched their XRP trust. If you recall, they had this in place, but when the SEC sued ripple, they had to dissolve it. And we know many exchanges delisted XRP. But since Ripple won the lion's share of the lawsuit and XRP was declared intrinsically not a security, many exchanges started relisting. And this is a very big move here from grayscale showing that there is demand for this asset. And if there wasn't, they wouldn't be launching it, right folks? So you have institutional on ramps being built here. And as always, game theory will play out. You're going to see their competitors launch these type of funds around XRP as well. If you caught my interview with Matt Hogan a bit wise earlier this morning, he hinted towards XRP, Cardano and so forth, that they're working on building, uh, ETF's and so forth around these things. So institutional investors are building products around XRP. Now, I know some people are going to hate XRP. They're going to hate ripple. But I'm not here to invest with my emotions. I'm here to invest with facts and the reality of the situation. I'm diversified. I hold bitcoin, Ethereum, Solana, XRP, Cardano and so forth. So I'm just looking to make money. I don't have a religious, uh, agenda here. I don't have a sort of narrative agenda. I believe in crypto and I'm here to make money. So very big move. And that is why you're seeing these big companies do this. And you know, Ripple has a lot going on for them right now. They're going to be launching their stable coin, they've enabled Ethereum smart contracts, or they will be on the platform, on the XRP ledger, I should say. So. All of these things are very good for the adoption and price of the XRP assets. Now, they said this is only available to accredited investors. They said Grayscale's XRP trust allows investors to gain exposure to XRP. The token power. Exploring the XRP ledger, a distributed peer to peer network created to help cross border financial institutions. Now, folks, with this domino in place, it means the chances of a potential XRP ETF being approved in the United States has become more probable. The chances have increased. So get ready. Right. And obviously, we need some clarity in the market because Solana is also in the same bucket here where we need clarity from Congress and we need legislation because Gary Gintzer, we know he's up to no good and we're going to talk a bit about him later, but we need more clarity here. But this once again increases the chances. So very big news around XRP. Now you may say, Tony, but look at the price, dude. The price is down. What are you so excited about? I look at market cycles, I don't care what's happening right now because I'm looking at the macro I've been sharing with you guys. Everybody's waiting for the Fed rate cuts. That's going to be very bullish in the markets. Yes, there's going to be volatility. September as a hold is a wash. It's a bloody month. So I'm not looking for anything this month. Now, come Q four, we're going to start to see bitcoin climb out of this consolidation phase and then alts will follow. So you have to understand the market cycles. This is why on this podcast, I give you the full picture. I give you the holistic view, not just the technical analysis. I give you the adoption news, the fundamentals, the macro, all of these things help to paint the picture of where we're at and where we're headed. So here at 360 trader, Dan from 360 trader, I just had him on the podcast. He gave his XRP price prediction. So be sure to check out that interview. He said XRP on the weekly looking macro, bullish here inside the ascending triangle has the local double bottom here into the apex. Price is pinching. This should challenge the pattern. Highs soon into the $0.70 area. Crypto Michael, who's an analyst, has been talking about XRP's chart for a very long time. He says XRP slash bitcoin looks ready for a huge squeeze. So this is a very important chart because many folks, they will look at an altcoin versus bitcoin denominated in bitcoin. And youll see many altcoins have bleeded against bitcoin over time. But eventually all coins line up very nicely and they set up for a move. Solana was a first mover in this type of setup. It was showing a lot of strength on its chart versus bitcoin. And I think Ethereum will eventually get there. It's a matter of time. Be patient, guys. I've told you many times, the liquidity enters through bitcoin. Bitcoin does its run up, and then the liquidity flows to the all coins. Now, within the all coin category, there are different tiers. We saw meme coins did really well in 2023, into early 2024. AI coins as well. Well, the blue chip coins like XRP, Cardano and so forth, they're going to have their turn. So I hope you understand what I'm saying here. This is not my feelings. This is not my emotions. This is what we've seen the market do that what the charts are telling us, what the technicals are telling us. And I hope you're looking at data. I hope you're not listening to people telling you about conspiracy theories and their feelings and emotions, because that's all garbage. Let's look at data, guys. Right? And charts are showing us a really, a really good story here. And the adoption news, grayscale relaunching their XRP trust is very bullish. Now, quick word from our sponsor. And that is Vechain, which is one of the top enterprise layer one blockchains out there. I've been a vet token holder for years. I'm a believer in this project. I'm bullish on it. And many companies are using the Vechain blockchain to build web three technologies and decentralized application ecosystems. And they are working with many big players, folks such as PwC, which is a top four accounting firm. They're working with BMW, Walmart, China, Boston Consulting Group. In fact, there's some very big news here. They're going to be doing a hackathon with the Boston consulting group. So that's a big player, folks. Go research who the Boston consulting group is. So Vechain is doing some great things. And like I said, I'm a vet token holder, so I'm putting my money wherever mouth is. I believe in this project. Some of the key features of the Vechain blockchain includes its secure, affordable, scalable, fast, and sustainable. If you'd like to learn more about Vechain, go to vechain.org dot. All right, folks, the big news continues. SEC chair Gary Gentzer is under investigation by republican lawmakers Jim Jordan, Patrick McHenry, and James Comer for engaging in suspected political favoritism in his hiring practices. You know, a lot of people don't want to hear the political divide with these agencies, especially a lot of former SEC folks. They tried to sweep it under the rug, but the SEC is divided politically. We see Hester person Mark Ueda believe a certain way about crypto and the industry, while the Democrats, Gary Ganser and the other two Democrat commissioners feel us a different way. You see the clear political divide. And we know Gary Gentzer is a puppet on strings control by Elizabeth Warren. I mean, we've talked about this ad nauseam. I don't have to repeat myself with a million time, but I hope you see what's happening here, and I'm glad they're launching an investigation. My hope is that Patrick McHenry also issues that subpoena for the FTX documents, which Gary Ginser has not handed over yet. And we know why. He was trying to build that special broker dealer license monopoly for FTX where, you know, the SEC would control a lot of things. And of course that fell apart. He didn't do his job in doing his due diligence in investigating what FTX was doing. And of course, there was the whole collapse under his watch. So there's also a hearing coming up, guys. And here. Eleanor terror to Fox Business reported. September is a big month for hearings on Capitol Hill. The financial committee just announced one for next Wednesday at 10:00 a.m. eastern entitled dazed and confused, breaking down the SEC's politicized approach to digital assets. Witnesses yet to be announced. They're having a hearing on this is, Gary's going to get embarrassed. He's going to get grilled. Gary Gintzer is also set to be appearing on the Hill at the end of the month, although I'm told an official date and whether or not they will invite other SEC commissioners to testify alongside him has not been finalized yet. I would love for other commissioners, especially like Hester purchase or Marky Way to, to come in and speak, to have some balance. That would be very interesting. It looks like they're ramping up their efforts here against the SEC. And look, Gary Ganzer has lost the narrative, right? Uh, he's a complete buffoon. I've been calling him a scumbag because he's not engaging with the crypto industry in good faith. He is doing scumbag activities. And as we've talked a lot about, it's all because he's trying to protect the tradfi incumbents who have weaponized them. Right. They made the call. Gary, stop these guys. We need to catch up. We want to launch our own blockchains. We want to control this market. Uh, so that's the game here. Now, Eleanor Turret is also reporting that on Wednesday afternoon, the digital chamber and Congressman Wiley Nichols office hosted a private policy focused roundtable meeting that centered specifically on bitcoin. The meeting was for House Democrats interested in learning more about the largest digital currency and how to legislate it. She said. In attendance, eight democratic House members names were not revealed and representatives from riot platforms Baker, McKenzie and a bunch of the other bitcoin mining companies. He said topics discussed were using bitcoin for financial inclusion, mining and energy, energy, sustainability, and as well as competition with China. So this is great. We need to do advocacy and education. We need to get more democrats on board. We know a good amount of them flipped on Gary Gansen, Elizabeth Warren in repealing Saab 121, and in passing the fit 21 bill out of the House. But we need to get this bill through the Senate, and we need more of them to influence Kamala Harris because we have not heard where she stands. We've heard a little cricket noises, right, or little breadcrumbs that, oh, yeah, she'll support crypto, but show me, don't tell me. Right? We need to hear straight from her mouth. We need to see some sort of policy. But this is great. Shout out to Congressman Wiley Nichol, Democrat. Shout out to Ro Khanna. They're doing their best here, but we need more action, guys. But good news. Now, some not so good news. Etoro, which is one of the companies that was being sued by the SEC because every exchange is getting sued by the SEC right now. Coinbase, Robinhood, Kraken, you name it, right? Uniswap, even. Well, etoro are going to cease most of their crypto offerings in the United States, and they have settled with the SEC. So it really sucks that they are capitulating here. They're going to pay $1.5 million as part of a settlement. This really sucks. It's not good news because Gary's going to take this and say, see, I told you guys, right? He's going to try to use this in his case against Coinbase and these other folks. But it is what it is. And I really wish etoro would have fought back. But, you know, right now, because of this whole shutdown, users or us users can only trade bitcoin. Bitcoin, cash and ether, other positions will be liquidated. In mid March of next year. So no all coins, no other altcoins outside of Ethereum and bitcoin cash because of this regulatory uncertainty. This is the scumbag activity we're dealing with here. A bunch of legal experts and lawyers weighed in on this. Paul Gravola of Coinbase said they just conceded Ethan ETH is not offered as an investment contract security in secondary markets. But the SEC will not explain why Ethan bitcoin but no others, because they can't. There is no plan, no framework, no logic, no due process, and certainly no respect for the law. He's absolutely right here. Bill Hughes, who I've had on the podcast, he's a lawyer at consensus, said the SEC's order says etoro US had around 240,000 customer accounts. To put that in perspective, Coinbase has over $100,000,001.5 million is nothing. It's a departure fee for leaving the United States behind and focusing on international business. So it really sucks that now etoro can't offer full services here in the US. It eliminates, you know, some competition, and competition is healthy for consumers in the market. Alexander Greaves said etoro just settled with the SEC over offering crypto on their platform. First off, what? Reset? Second, and more importantly, note that the SEC permits EtH to continue trading on the platform, effectively enshrining it as a non security commodity. So really sucks. Now, some good news. Let's move on to some good news here today. In tokenization, Morgan from Ava Labs highlighted the following. Parafy capital tokenized part of their VC fund on the avalanche blockchain. Its native token is avax leveraging securitized. So the tokenization of assets and funds and so forth continues. Guys, uh, we're seeing tokenization on avalanche, on Ethereum, on Solana, and so forth. This is the future, the token economy, which I've been telling you guys for years, and I am bullish on Avalanche. I do have some of the Avax token in my portfolio. I just recently had Carlos Domingo have securitized. They're working with Blackrock, obviously, to help them tokenize their fund. And if you haven't seen that interview, check it out. I'm going to try to get John Woo of Ava Labs back on the pond to talk about the big news here and the other things they've been working on. Uh, they've been getting a lot of adoption, so Avax is a token to watch, guys. Uh, it could do really well in this bull market. Now, big news from Coinbase. Coinbase rolls out wrapped bitcoin alternative CB BTC on Ethereum and base. So, uh, this is interesting. The CB BTC token is initially supported on the Ethereum and based networks, providing a means to use bitcoin in their decentralized finance ecosystems. So wrap tokens, as they said here, enables you to do a lot with DeFi. So many tokens will get wrapped and so forth. And bitcoin doesn't natively have any smart contract capabilities. So this is why wrapping it will help enable that. So big news and smart move here by Coinbase. This is going to open up a lot of utility for bitcoin. Now some more good news. Anchorage Digital to provide custody for 21 shares spot bitcoin and ether ETF's, you may say. Well, what's good about this? Well, a lot of the ETF's are currently being custodied by Coinbase custody. So one could argue that's a very centralized setup and that's not good. We want diversification in custody. So the fact that a lot of these ETF issuers are diversifying and going to different custodians, that's very good, right? Because we don't want the risk of a collapse by one entity and that ruins the entire market, right? That is not good. We don't need any more FTX type situations. And I'm not saying Coinbase is doing anything fraudulent or scammy or whatever. I'm just saying it just increases the risk that if something, God forbid, were to happen to Coinbase, it would be pretty detrimental to the market, right folks? So Blackrock uses Coinbase custody and so forth. Now, 21 shares is also going to be using Bitgo. So Bitgo is a sponsor of my podcast and they're a trusted custodian as well. So great news. Good to see the diversification. This is what we want to see, trusted institutions who have insurance, security, and much more diversification. Diversification of how the assets are stored and really, really good for the future adoption and growth of the asset class. That's the news, folks. Let me know what you think, especially about the XRP grayscale news. I think that's a big one. And don't forget to sign up for my free email newsletter on Substack. It's 100% free podcast by grabbing a copy of my book. It's available on Amazon and paperback and digital. Also on barnesandnobles.com dot. Buy a copy for yourself. Buy a few copies for your friends and family. It makes a great gift. Help them to learn about Crypto as we enter the next phase of the bull market, guys. It includes investment tips and so forth. Um, it talks about Crypto's past, present, and future. 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