 Great. Everybody welcome to July set news. My name is Rob and we got a ton of stuff to go over. So let's just jump right in We're gonna talk about polygon and Starbucks. We're gonna talk about the first US global bank to launch early 2023 We're gonna talk about crowning gets a lending and borrowing app with a basil upgrade or Basel And we're gonna talk about near protocol gets sharding which is beating a theory into the punch and also We'll just go over some sweat coin concerns. So let's just jump right into it and talk about Well, this will be the first story But I just want to let you know that the things that are coming out this week are gonna be huge And I think the things we have to pay attention to is this this is a great tweet from investing comm is pretty funny Like this one no time for puts and there's a friend of the show Jerome Powell looking dapper But of course it's all doctor, but whatever, but just remember that you got the CPI on Tuesday The consumer price inflation report and I expect this and a lot of people expect this to be a reduction as we've seen different factors that could Lead to that assumption and if that means that things are going down That's good for the economy and that's good for markets and expect the markets to pick up Then there will be the the PPI at the producer price inflation and remember that's the precursor of the CPI And then you got retail sales new for manufacturing Philly for manufacturing But then the big one is jobless claims and I hate to say this but I do hope jobless claims go up because that would mean that would be Better for the markets. I'm not telling I'm not saying that I want everybody to be jobless But we've done pretty well for quite some time. So we'll see how this all goes So that is the first part and we'll see how it is I think the CPI is gonna be good But this is part of the bullish news and the reason why I wanted it to to bring to you all this great information is Well, first of all, there's a lot of great information out there and that's good for the market itself And I know lately. I've been pretty bearish. I know I get it But in the back of my mind, I'm always like, well, this is just bearish news and it's gonna be over in a little bit But I don't think that Transcends to what you hear out there. So I just got to make myself clear Sometimes it's like a coach that beats in your head. You got to push you got to drive You got to do all these things and not setting back and going you doing a great job So here remember we're all gonna make it I'm telling you if you have a two three five year time horizon You're gonna be really happy you stuck around these crappy months and that's just this is the truth There is some short term bearishness, but today to me It's a lot of bullish news and just remember as time goes on time in the market is greater than timing the market Just stick around. I think you're gonna be really happy so this is what we got for the first up Starbucks and Polygon They got tapped for their web three experience. I don't think this is a big big big story, but it's just interesting that These big brands are moving into the NFT space and what it all means I'm not talking about the the goofy artwork gifts or GIFs or have you have everybody says them different and all the All the like I said the goofy artwork I'm just talking about real things that you can do tangible things like you know web three experience with some points Which is what this is and just pay attention and again pay attention To the products that are growing in a bear market because in the bull market, they'll be unstoppable today We're thrilled to announce that Starbucks company company is working with Polygon release Polygon Studios I believe to provide the blockchain tech to build its recently announced web three experience Starbucks Odyssey as a result of the pattern the partnership the new web three powered experience will allow Starbucks rewards loyalty program members and Store requirements in the US I guess is only us only for now to earn and purchase digital collectible stamps in the form of non-fungible tokens Who knows what that could mean later on as far as utility maybe get a free latte or something like that I don't really go to poly to Starbucks that much. It is drink coffee, you know Because I'm an old miser, but I mean that's a step in the right direction and I found it interesting though What this article as far as Polygon goes about talks about ESG compliance. I'm not surprised I mean if you got it flaunt it and it states Polygon has committed to becoming carbon negative by the end of the year It has already offset its negative cumulative COT debt. That's great Ethereum chains imminent transition to a proof-of-stake consensus mechanism will further reduce the carbon footprint of Polygon by 99.9% and I just found it just interesting timing that this is the big narrative I understand why because I mean we just had this report come out from the from the White House the by-demonstration Climate energy implications and pretty much they were saying like look if we can get if we can't get the proof-of-work Protocol under control and it damages the grid. We got a thing about banning it I talked about this a couple of days ago I believe on Saturday and I said they're not gonna ban anything. It's too much money being made these Bitcoin miners will work around it They'll use third-party or other types of renewable energy sources We talked about solar wind and geothermal Trust me, they're not gonna give up a trillion dollar Well half a half a trillion mark cap right now just because they can't produce some energy. They'll make it work Trust me, but so there's that part and then also you see you're gonna see more more Reports and the things that are going on it's gonna be revolving around green energy Renewables and crypto and digital assets and this is just one of those examples from squawk box as they talk about You know aetherium in the merge and the transition over and and carbon neutral or carbon negative So it's just it is what it is and I will lastly I will just say this I invest in polygon shocker some biased but This is not financial advice on this show. This is just the news just talking about things with you Dan fam and just going over some things. I gotta tell you Right now we're looking at under a buck right under dollar for for polygon Do you not think we could get to $2 and 88 cents anytime? Sometime in the future. Well polygon just be around for under a dollar forever or maybe it might be interesting thought to maybe a dollar-crossed average of that project. I'm not saying to do it, but Just interesting to say and yeah, that's what we got for that. That's the only thing about in the comment section Let's move on To the next piece first u.s. Global Bank to launch early 2023 let me fix this real quick and typos There we are first u.s. Global Bank to launch early 2023 and this was a tweet that was put up by the mooch scary mochi Who just recently had 30% of his company skybridge capital purchased over by sam bakeman Frieden FTX good for him. I Know there was some liquidity issues over there and looks like he's got that stamped out. So that's good That's really good. I hate liquidity issues as you may know, but here's what he says breaking news at the salt conference Billy hard of Abra global announced the formation of Abra Bank the first full depository institution for crypto in the United States And I read these stories to you and just think about this Do you think crypto is gonna go away Do you think we're just gonna be like well, that was a fun experiment back to wire transfers Back to checks. I I don't personally believe that but I could be wrong This is what's happening. Abra Bank when it launches will be the first Regulated Bank in the US of them will enable our customers in the US to deposit and Bank with digital assets and access global fiat on and off ramps access global fiat on and off France why they doing this I believe that the best way to become the default web 3 wall and crypto bank is by embracing global Regulatory framework that provides for transparency oversight security agency and before I read this next section Think to yourself all the junk that's been going on in our in our little area in our little market and the things that have been Rug pulls liquidity issues and solvency and tell me if this doesn't make a little bit of sense in some way shape or form Just saying Transparency means that Abra's community public disclosures on assets liabilities and risk management processes Public disclosures on assets that'd be nice. So we know what the heck's going on Oversight means that Abra will work with global regulators including US and state banking regulators to right-size our compliance and legal oversight to minimize customer disruptions Okay, man, it's a little bit shaky. Okay, you got me on that one Security like this means that Abra's community to ensuring the protection of customer funds and digital assets are always a top priority I'm curious see how they're gonna do that that's gonna be limited hot wallets for digital assets and mostly in cold that would's what mostly what a lot of Institutions do and then agency means that and this is the most important agency means that your assets remain your assets And I must caution you I did not look to the terms of service to verify this. This is just the report This is just the documentation. I see right here the article So I can't vouch for this but they do state We believe in the ethos of not your keys not your crypto But we recognize that people and companies need help to manage their digital assets Abra will provide on ramps off ramps and Transactional services to make crypto and web3 work for everyone. That's pretty cool I guess maybe that would be like this like if you're crypto savvy like you are probably watching this video And you're like, you know what I can hold my keys. I understand the risks and I can do all that stuff I don't want you guys dealing with it. Give it to me. Sure But I want to transact whatever else I do for whatever that they have maybe they have loans Maybe there's something else. I don't know and of course institutionals and people just don't want to do that They just go, you know what you guys take care of it I got three kids and two jobs and I don't want to deal with it Okay, but that's the mistake in my personal opinion. You should really hold your own keys I'm just saying so I guess it just kind of comes the the fact of there's there's a big tent for everybody Whoever wants to get in they can fit in like two short says Launching Abra boost. This is where things get wonky and Talk to me in the comments that this doesn't sound a little off Abra will launch Abra boost on October 3rd 2022 Abra boost is a new product offering that will enable all qualified investors To deposit and earn interest on their digital assets deposit and earn interest wherever you heard that before And the US Abra boost will be available to all institutional investors and accredited investors Doesn't sound like the retail will be able to have it at first. This requirement will be in effect until Abra Bank launches in the US What happens to Abra earn when Abra boost launches whenever boost launches all qualifying existing customers ever earn Including individual institution vessels will be transitioned to Abra boost at the same time We will stop accepting a new customers or assets and I had a question. I was like, I don't I don't remember Abra really being a big Place in the crypto community. I just didn't so I took a look here And if you want to dabble in it, I mean, there's a link in the description I think I put it somewhere, but if not if I mistaken it was abra.com and you can download the app for individuals and This is full service crypto platform. You can trade 80 plus cryptos are up 10% I do not have an affiliate link. So don't I've never used them so I can't say that I would use them myself I don't use them. You can borrow stable coins was a little zero percent And then here's how it works, but I thought it was interesting They've got 1.5 billion assets under management 2 million wallets created 7 billion transaction volume 150 countries top 5 ranked crypto apps Okay And again, this is where I get nervous these earn rates eith to 4% polka dot 10% USDC 7.5 10% 2% to it look man. I learned my lesson with Voyager I'm gonna stay away from that for a very long time and tell someone can prove to me something else Or we get full public disclosures The only reason that I understood about what was going on with Voyager is because there's a public disclosure that they Loaned three hours capital over six hundred million dollars and at that point in June 22nd I said I'm not I can still use Voyager But I will take everything off of Voyager and that was the only reason public disclosures So she's didn't have that and for this one I gotta say I'm gonna pass But I thought it was interesting about what things are going on. Anyhow, let me know what you think about that in the comment section I'm just not gonna do it and Next to last this is a good one Cardano Gets lending just so you know September 22nd as a date for crowns of Basel Basel Basel hard fork and of course Coin telegraph never misses an opportunity three months after target date, but hey still happen and This is what's going on and I think this is important to understand I believe or some people have told me that maybe the apps are being delayed and tell the nozzle upgrade Because that's going to help with the pipelining and throughputs and different functions of Plutus and and make things a lot Easier for for developers. So great and here's what's gonna happen. They're gonna get their first lending and borrowing app interesting So the release is scheduled for September 13th. I guess they're gonna be literally making a Ada v1 the first lending and borrowing protocol to launch in the card on main net. Alright after months of public test net Maybe this one will be first aid a Ada. I'm just gonna call it Ada finances Finally ready to deploy its eagerly anticipated app the release brings lending and borrowing to Cardano. It's pretty good Introducing defy primitives to the network for the first time a to finance plans to launch in anticipation of the base Okay, basil hard fork, which will update the crown network and of course for people who worry like myself There was a successful external audit to ensure our little protocol and this was done by vacuum labs Which is a crypto and fintech company and a subset of wing riders with extensive audit experience if anybody's a part of wing riders or a Ada Contact me. I love to have you in the show. I don't know what's going on with you guys Other unique features included in introduced by the platform or multi asset lending interesting and Barreling and the Ada 3 node liquidation article the latter plays an essential role in naming letters to liquidate their loans. Oh Look at that is enabling lenders to liquidate their loans in the event of a rapid loan health factor downfall So maybe they said some parameters ago. Look, we are way too overheated here and we got a liquidate before things go crazy Terrell and I just think that maybe that's I mean, it's I would see it would really depend because if if I'm if I'm If I have a loan out They're like, hey Rob, you got a you know, you got to pay up You got to collateralize and then I don't answer in five minutes and they liquidate me like hey What the heck happened? So I'm just curious to see how long that goes What's that in terms of conditions again fewer with a Ada or wing riders contact the show on Twitter? Have you on so that's what's up with Cardano things looking good and then the last one near protocol and near It's a top 25 crypto. It doesn't get a lot of a lot of talk about but it's already doing some pretty good things TPS and it's already in Integrating sharding which I think is way ahead of the game for a theory. Remember your theory mood merge Just goes from proof of word to proof of stake. It doesn't introduce sharding. That's gonna happen. I Don't know 2023 so who knows? But this is a good one about near near blockchain moves ahead with phase one of sharding It's pretty big as a part of our nears forced that plan to show the network the next year the protocol will introduce 200 new validators I gotta tell you that's not a lot Let's be honest, but it's more than use. Sorry, beardy. It's true So phase one or it's nightshade playbook Facilitated by near a contributor pagoda this phase see the see is the introduction of a specialist chunk only validators that feed into the Sharding mechanism, but are easier to set up than full nodes. Interesting. I should probably reach out to these guys Paired with an 86% decrease. That's pretty big paired with an 86% decrease in the collateral requirements for all Participants of the proof of stake chain The changes seek to rapidly lower the barrier to entry for near validators in an interview with coin desk near We'll go from 100 to 300 active validators. That's a step in the right direction Probably should be doing more and near as planned to show the network will be done through a four-step program called nightshade earlier This year it began phase zero and We'll complete the upcoming phase of the upgrade in 2023. I think they've already got Into phase one. So that's a good news and the reason why I brought this up, of course Is because sweat coin is being built on near protocol, but then I'd also figured out That near protocol is also using the Ethereum protocol to build on to I did not know that so they're using both and Here's what happened if you haven't listened to show and I don't know two months I may have mentioned this sweat coin and it got listed today on actually six different Exchanges bitfinex okx FTX Q coin and buy bit and just real quick if you're looking at volume Binance is crushing everybody 81 billion. This is this is 24 hours, right? Yeah, okay 24 hours. She's one The next one is okx 20.5 billion and for some reason they have active is three But I think the they're doing this by ratings. It doesn't matter So okx is 20 billion buy bit is almost 10 billion FTX is 12 billion Q coin futures and Q coin is 1.12 and it also got listed on Bitfinex 537 million whatever and then Mexi global didn't say it there. So that's three. So that is There's a quick math roughly 20 30 42 What's the other one 43 44 for 60 70 almost 50 billion in transaction volume in 24 hours Still less than binance, but I got to tell you a tip of the hat for that But I got some concerns And one of those concerns is that it was built on near protocol now. It's branched out into ethereum So I don't know if they can handle the transactions per second for that. That is the big thing and then also You can find this on coin gecko and you can take a look and it's Get you this siren. Sorry. Hold on real quick Okay, sorry about that. They're coming for me gary ginsler and you can see that on coin gecko If you take a look at sweat coin, it's just in preview mode only As I hear for the rumblings for this one sweat coin, it's going to be listed at The price of 0.006 or maybe 0.007 There's not that much And that's okay That's actually good and the reason why I bring this up is because of this first of all the token generation event Which is today or actually the next 21 hours Everybody who has used the app which is I have it on my phone right now That's a that's a web 2 version the app itself You get these you get sweat coins and they're not crypto They are not crypto the app on your phone the app on your phone For sweat coin that you walk and accumulate sweat coins is not crypto What that is is all the different coins that you accumulate in your phone, which is not crypto There is a wallet that you have to download And that wallet you can transfer all the different tokens that you are sweat coin that you have accumulated Now go one to one and sweat, which is the crypto unfortunately, and I said this many times us is not going to get those those coins initially Because they're they don't want to deal with gary ginsler and his nonsense and everything else So that's the first part. So just so you know, that's what's going on We had a deep dive. There's a link in the description. You can check it out and I talked to olig and oh fear Olig is the co-founder of oh fear is the chief marketing officer He talked about look, we're not going to do it now But as far as the airdrop We'll do it at some point just got to deal with all the regulation issues But this is the thing so I was an investor in that as everybody knows and Initially see this on the left hand side This is the sweat unlock and allocation in the very beginning And they've got over 30 billion tokens, but this is over months over the next four Four years I do some math in the next four years. It's going to be a slow release. There's a cliff So in the in the beginning for the airdrop it's not that much So Could there be a lot of selling there could be could a lot of people be a lot of people staking because you're going to be able to Stake could be because there are a lot of people buying could be I don't know for it for instance, but I got to tell you tip of the hat to those guys for saying look we did a private round Well, that's not what's called Oh, yeah, that was so it was a seed round private round which I got into because credit investor. That's what it is And uh, people always ask how much they pay you Rob how much they pay you that didn't pay me squats I paid a lot to them matter of fact And I got these tokens and I paid point zero one four for it What does that mean? That means today as this as this all goes live Oops, that's not it On bitfinex okx ftx kud coin and buybit if they started at point zero zero six, which is a fair price What does that mean? Well, that means that I can't dump on you. Oh and oh by the way I can't take my coins out anyhow for 12 months as a lock up So I know people were concerned about that And that's just what's going on. So for 12 more months, I'm in it with you. I've got skin in the game No one paid me anything. I believe in it. It looks pretty good. They said exactly they did exactly what they said They're gonna do we're gonna have five listings that didn't happen and that's it. So look Let me just think about that story and that's it for today And for the news there's a lot of good news and I wanted to put that all together because just remember I know it sometimes I sound very bearish and I am in the short term But there's a lot of bullish things going on and as far as the time horizon If you're gonna stick with me just stick with me two three five years I think you're gonna like the outcome. I can't guarantee anything. I can't tell you what to do. I'm not your dad But uh, I think there's better days ahead and that's all I have to say So anyhow, let me just think about that in the comment section and uh, now let's go into a little q&a As we're done with the news. This ought to be good. Thanks for sticking around I gotta get rid of this banner Comments