 So the Fed came out and raised rates by 25 basis points. Everybody's talking about how great this is and there's maybe a reversal. But in all honesty, this is not the real story. This is just a temporary little footnote. And it's not like I'm going to make a big difference in the grand scheme of things. And what I'm talking about is, of course, we just saw that drone Powell came out and the Fed rate said, yeah, we're going to raise it by 25 basis points. And the market responded in the crypto-visual asset space as we saw a drop 0.7% because the whole narrative lately has been, you know, as the Fed keeps screwing up and making these mistakes, it actually makes everything stronger for crypto-visual asset spaces. People start to see that banks are collapsing and maybe they get into an alternate investments. And maybe there's little things that can shore up all the misgivings that is happening in traditional finance. So when we see this, it just reminds me of the goldfish mentality or the memory that people actually have. And the S&P 500 rallied and NASDAQ rallied, and that's just fantastic. But again, for the crypto space, these 25 basis points of these federated hikes are just a blip. I could really care less. We have to take a look at the big story. And the big story, like I've been talking about forever, is regulation and what's going on behind the scenes is a distraction. Now we talked about yesterday, Governor Ron DeSantis, Governor of Florida came out and said, look, we don't want CBDCs. This is why they're awful. And it was just a breath of fresh air and just a sigh of relief for me. I think a lot of people who've been warning about CBDCs, now we don't have to say, hey, it's not just some crazy half-brain idea we had. Here we have Governor of Florida saying just how dangerous that actually is. Now on top of that, we also had Ted Cruz, senator from my great side of Texas, come out and go, you know what? We need to block CBDCs. So again, what I'm talking about here, and we'll get into this real quick, is it's all about regulation. It's between this, a new law put out by Texas, on top of the economic report by the president from the White House. And we're going to see how people will talk about how awful this is. And in actuality, I didn't think it was that bad. And I'll tell you why. So to get into this part right here, Ted Cruz puts out a new bill to block central bank digital currencies. More important ever to stop this happening. So here's what's happening. Cruz introduced the bill to block the United States Federal Reserve from launching a direct to consumer CBDCs. And I'm marching for a statement. Cruz introduced the bill to prevent the Fed from developing CBDC, which could be used as a financial surveillance tool by the federal government. Again, we talked about this yesterday about shaping the narrative. That is exactly what Ron DeSantis was talking about. And I gotta tell you, they are spot on. CBDCs that fail to adhere to these three basic principles could enable an entity like the Federal Reserve to mobilize itself into a retail bank, collecting personally identifiable information users and track their transactions indefinitely. Cruz and the federal government has no authority to establish CBDCs. We should be empowering entrepreneurs enabling innovation and increasing individual freedom, not stifling. And that's the exact same thing that Ron DeSantis talked about. That's why I put a tweet which said DeSantis and Cruz 2024. Now, I'm not a very political person. This isn't a political channel. I said it as a joke. And of course, everybody, you know, either loved it or absolutely hated it. And that's how polarizing politics are in America. So I will not be saying that again. And then also, Texas, what is laser introduced the bill to attract Bitcoin businesses, protect the interests of the same. And this is how you do things. If you want job creation, if you want people to come to where you're at, you want to make things friendly. And you can see this in Dubai, he says, I'll sell or you can see this in parts of the EU. This is what you do to grow innovation, not stifle it. The bill will provide legal protection from those owning and engaging in Bitcoin-related activities, including immunity afforded by censorship, resistant Bitcoin, spending, and the ability to store Bitcoin and unhost the wall without state interference. Bitcoin models will be free to engage in mining without restrictions from any law or resolution. Texas will support individuals who code or develop on the Bitcoin network on a section eight, which protects freedom of speech and the press. And this would also, unfortunately, would have helped the developer of tornado cash was he sitting in jail waiting for trial as something like Sam Bakeman freed just goes free just because he wrote some code. The bill side of the China's government's banning of Bitcoin mining and trading in 2021 has led to the quick migration of miners from China to the US, particularly to Texas. I didn't know this, but 14% of the total hash rate for the entire hash rate for Bitcoin is done in Texas. Santos talked about a bill, and this is what we talked about before. So again, I truly think it's all going to come down to regulation and the bills that are passed to see if we survive in the United States. But as we get into the stories a little bit later, you're going to see that in all honesty, America, and before we go on, I'm a big homer, I love America, but we're going to see how it's really doesn't matter about America as far as crypto and going global. So this is also what it comes down to. And this was an economic report from the White House. And a lot of people are talking about this today or something about Thomas today, which I thought they were should talk about more about this than the 25 basis points. I could honestly, I don't think it was that big of a deal today. If it would have gone to 50 basis points, we would have been talking about 25 is just part of the course. But this report was put up by the White House, and it was pretty damning. And this is Matt Homer, former Deputy Superintendent with the New York Department of Financial Services. He said the report was a damning indictment of the space that makes the administration's policy crystal clear, which they are not to fond of crypto. Let's be honest. The amount of attention given to digital assets is substantial, especially when viewed in comparison to other areas of financial services. They've arguably been far more detrimental, detrimental over the past few weeks, namely banks and the Federal Reserve as they raise rate hikes. And it's caused a lot of different issues with the collapsing and different problems for the retail, just the rate to consumer. And the report itself, it's pretty long. It's about, I don't know, 100 or excuse me, 513 pages. You want to just scroll down in chapter eight, link in the description. You can read the whole thing. But we've only got, you know, three hours. So let's just skip ahead. So yes, there was a lot of parts that were damning. And a lot of things that were said that were quite negative. However, let's take a look at the good side. And this is from Rebecca Redding. And she is the Chief Policy Officer at Polygon Labs. And she thinks like me. She's like, look, I'm not going to give you hope, but I'm going to show you some of the things that would look quite positive. And she said, you know, just take a look at chapter eight, focus on digital assets, some key takeaways. The report states multiple times. Let me say this again, multiple times that crypto assets appear to be here to stay. This is the critical acknowledgement. It means the industry can continue to innovate to build the ecosystem robustly and safely. It's not just about survival anymore. And that's a big thing to think about. When I got in 2017, no one thought that, I mean, a lot of us thought that the government would step in and they would stifle innovation, which they did. But they thought that we could get away with just suffocating everything and just eliminating Bitcoin and moving on. But that didn't happen. And I like how Rebecca says that in this document, it says, look, it's here to stay. We have to deal with it. And however we do that, whether through regulation or choke point 2.0 or how we get to it, we need to do it in some way. I don't think these things will work in the long run, especially as we get into the other articles where we talk and we see that just how everything's moving away from the United States, which is fine. I think there's a lot of room to run. And she states, and with crypto here to stay, it's more important than ever to ensure that industry and policymakers engage collaboratively to create sound rules of the road for blockchain-enabled tech. The report also acknowledges that the tech underlying crypto may still find productive uses. And it goes on and talk about polygon. Of course, she is with polygons, which you can talk about. But finally, the report focuses almost exclusively on crypto as a replacement for fiat currency. That's what's known as a strawman argument where you set it up just to knock it down pretty easily. Look, for it to replace fiat, crypto could very well. But that's why I liked, we talked about Governor Ron DeSantis. We talked about Senator Ted Cruz as they come out and said, look, CBDC is not okay. They're really bad. They are going to lead to surveillance. They're going to lead to shutting off things. And we're not going to allow those in our states, Florida and Texas. That is the big hurdle to get past. Now me personally, can crypto take over for fiat totally? Sure. Why not? But I got to be honest with you just between us. If I want to do something illegal, I am not going to use crypto because it is on the blockchain invisible for anyone. Why would I use Bitcoin or a Thamark done or anything like that to do anything illegal? Because it's just right there for me. I got to tell you between us, not that I have done this before. But if I didn't want the IRS to know of certain things, you know, I'm going to use cash fiat, you know, hard list to track fiat cash when you're paying for everything back and forth. It's on you. Not saying that I've done this before. I'm just saying it's a heck of a lot easier to do whatever you want in fiat than in a trackable currency as on a blockchain, which is visible to everyone. So I will just put that out there. Let me introduce your thoughts of that in the comment section. And then also speaking of polygon, I gotta tell you, they're really crushing it. South Korean gaming giant Nexon to use polygon for popular maple store universe. Again, as we take a look at in America, we have our problems. It'll just deflate and go someplace else and it'll just be as strong. So a dedicated polygon supernet allows Nexon to customize a blockchain to meet the complex requirements of online gaming. And this is for maple story, which I am not a big gamer. I don't know what this is. But it does have 108, she's always 180 million registered users. It's been one of Nexon's most successful games. I gotta tell you, that's true. So go to where the people are. They're not in America. They're all over the world. Users can buy or sell items from one another with the current version of maple story currency. However, the polygon supernet will allow players to be able to earn and collect NFT items through gameplay to unlock various benefits or utility across the ecosystem. Look, if you're looking for a use case, that's a big one. And I don't like using the word NFT, just using like digital collectibles or Web 3 skins or whatever else. And then just to accentuate this point, as far as polygon goes, and this says here, Nexon creates largest game developer launching on polygon. They join other AAA developers like Skronix in choosing to build on polygon from Starbucks to Nike to Nexon. Don't forget about Disney. The world is building on polygon. When are you? And then just to really talk about this, this is Dimitri. He says, look, maple stories reach 108 million registered users and it's grossed over $3 billion in lifetime revenue. How great is that if you just got tagged to help out with that business? So congratulations for polygon. Not to be outdone, Sony files a patent for NFTs to allow transfers between games and consoles. So again, if we're looking for a use case, there it is. I'm not going to spend too much time on it, but I think you get the drift. And then also, lastly, again, America keeps screwing up. So what are they going to do? They're going to lose companies or they're just going to expand. Coinbase expands in Brazil and allows crypto purchases with Brazilian real. I didn't know they were moving this fast, but here we are. So Coinbase integrated the Brazilian government's payment system picks and start allowing crypto purchases with Brazilian reals. That's happening right now. It actually happened yesterday. The company said Tuesday. The time with picks, which is more than 140 million, 140 million users, was unable through a partnership with eBanks, a Brazilian end-to-end payment processor in addition to making low concurrency purchases. Customers were able to withdraw Brazilian reals. Coinbase said its app is fully available in Portuguese and has enabled 24 hours of port. Man, I wish they would do that for America. Now I'm just kidding. Maybe they have more support here. In 2021, Coinbase opened a technology hub in Brazil where it hired more than 40 full-time engineers and eventually a country director. Talk about the long game. That was two years ago. Open a technology hub and now they're talking about expanding out, and that's why they're probably going to be pretty big. So let me just think about that in the comment section and then hope you have a story for the day. Sorry, I never really think this is going to happen because I've heard about this story so many times, just like a Bitcoin ETF. But XRP token surges on positive outlook and Ripple versus SEC case. Did it really pump that much? XRP in the last 24 hours is down 7%. Well, I guess everybody already figured it out. So if you're new to the game, just know this. There's going to be rumors all over the place, and there's this rumor that and Jeremy Hogan, which I do like. Ripple filed a violent boy in Japan to judge his decision. Judge uses abnormally strong language saying that the U.S. regulators themselves cannot even agree on what criteria to use in deciding whether crypto is a security. This is for the Voyager one. You're going to hear a lot of different thought process and rumors that's Ripple's won and it's going to be announced any day now. And just wait and XRP is going to 589. I do not prescribe to that narrative, but that's what it is. So just something a little hope of him to keep you going, but I don't want your breath. And that's it for today. Lastly, two announcements before we take off tomorrow, not financial advice. Live will be on Guy's channel over at Coin Bureau Clips. It'll be me, Guy, and Ben from into the Cryptiverse looking forward. It's going to be a good one. Good questions. Let y'all know what that is. And then lastly, lastly, this is our last week here in Puerto Rico. We have to go back to Texas. Take care of business and see family. So we're going to be doing a meet up at San Juan Smokos from 4 to 7 p.m. tomorrow night. If you're in the area, please stop by. I'll buy your first round of beers. And that's it for today. So look, like today's video, give it a thumbs up, give it a like, consider subscribing. Everything talk about our extremely time sensitive as you just found out. But that's it for today. So thanks so much for being here. And I'll see you on the next one.