 Welcome to the last set news like a top stories and crypto and bring out a bite-sized piece and today Just the thumbnail and title suggest another spot Bitcoin ETF was once again rejected by the SEC So we'll take a look at what exactly happened there Also, we'll do a flip side and take a look at some good news for once about what's going on And this is actually a regulation coming down from the Biden administration. You're gonna hear a lot of stories about this I'm gonna give you my take is why I think this is actually good news They're gonna talk about planting those crypto seeds because right now it's a bit bearish sentiment Then we'll get into final thoughts. So before we do all that, let's take a look at what's going on into the market So today or tonight it is January 27th is 640 p.m San Juan Puerto Rico timer and Guainaba where I'm at so Eastern you're looking at about 540 or so this is actually our second bit of the day and You know, it doesn't get much Much better than this as the market starts to get into the bearish sentiment And if we just take a look at it everything's down everything's down S&P NASDAQ everything's down across the board and doesn't matter the positive news of what's coming out You know earnings report came out in some businesses look pretty good and Microsoft being one of those They still took a big tumble. I can take a look the GDP of United States and over the last quarter it was actually grew at almost one and a half Times what they thought it was going to so that was pretty good But yet everything just tumbles down because there is an irrational fear out there And I think everybody's just frayed of one guy and his name is Jerome Powell So you want to get a scoop on that watch this morning's video? I'll link at the very end, but everything's down across the board in the last hour 24 hours seven days Everything's down. Well except Binance coin watch out 3.9 percent. It's pretty good Shiba Inu up 0.4 percent and then die 0.1. It's like a stable coin. So everything's down across the board It's looking pretty bloody out there the S&P 500 we can see that that also also took a tumble and over five days looks even worse month Six months about the same and then of course Nasdaq took another tumble today five day one month six months So not the grip. Wow six months looks pretty bad. So not the greatest of days and you know, like I said I mean everything's just a down across the board. So what I want to get into real quick is The main story of the day Which is the SEC rejects fidelities wise origin spot Bitcoin ETF So this just came out about a couple hours ago and it states this is why it was rejected the proposal Did not meet the standards designed to prevent fraudulent and manipulative practices and Protect investors and the public interest the regular SEC said and off from there Which I think is kind of funny because like I mean, it's not like an ETF hasn't been approved I mean in Canada the deli launched a spot Bitcoin ETF over there worked out pretty well I believe in Brazil they have one in a couple of the countries But here in the good old us of a Gary Gensler is not gonna let that happen futures are okay That's fine And if you want to spoof metals all day long JP Morgan do it go right ahead But if you gonna do a crypto ETF forget it There is no way because there is no assurances and so on and so on down the road So that's what's happening. And I just have to say real quick Is anybody dumbfounded by this is anybody like wow, I really thought I was gonna go through I know you might have I've been saying this for a long time that I know I mean look I'm not perfect. There's one thing that I have been pretty right on which is this ETF nonsense People have been talking about this since I got in crypto in 2017 and some friends of mine believe It's actually gonna happen this year. I do not I have no faith in the SEC I do not believe that they're going to make the right choice. I'm gonna believe that they just want to For some reason never ever a point or go through a spot ETF And the question that I have for everybody is do we really need it? Do we really need it? I mean we maybe for you know a lot of the big money players that want to get in But you know what if they want to make money in the crypto game, they'll find a way and it's not an ETF So that's just what I have. I'm not gonna delve deeper into it because never thought I was gonna go through I could really care less about a spot ETF. That's all we have. Let me know what you think about that in the comment section Let's go over our next piece, which is some good news. I before I get into it You're gonna hear this story a lot tonight or tomorrow or wherever else when you hear this again And they're gonna put a pretty negative spin on I'm gonna tell you why I think this is good news so this here The Biden administration is to regulate Bitcoin as a matter of national security now. Hear me out. Just wait wait for it Here's what we got. Let's get some data before we make any judgments So the White House wants to set out a cohesive set of policies to regulate Bitcoin and crypto as Currently the legislation and its enforcement are scattered across sectors and agencies according to multiple reports The order this order coming down is set to come under the umbrella of national security efforts As the administration seeks to analyze crypto and employ a cohesive regulatory framework that would cover Bitcoin crypto stable coins and NFTs This design to look holistically at digital assets and develop a set of policies that give coherency To what government is trying to do. This was a person familiar with the White House's plan Because digital assets don't stay in one country. It's necessary to work with other countries on synchronization The White House's plan is to bring order to the approach the government is now using to rate a crypto Which is just downright awful. So when you first read that story sounds pretty dangerous, right? Because we are all afraid of regulation. I personally do not that Afraid of regulation even though I know in the comments. I will hear about it. But here's the thing I've said this from day one when I started this channel. We need a little regulation We need a little regulation for people to get in and to feel safe and be okay with it And then also Remember and I talk about this all the time if you want to do a comparison We can crypto on the internet the government already regulated the internet in the mid 90s They came out with law 230 and it said that if you were a website owner You could not get sued or be held liable for anything that was said by the participants on your specific website Now, of course, there was different provisions if there was like really illegal activities like kidnapping and craziness like that Of course, right? But just for things that were said it allowed free speech to flourish and that way the internet flourished And then guess what if you take a look at the top five stocks and the s&p 500 What are they well their Facebook their Apple their Amazon their Netflix and their Google what do those have in common? Well, maybe not Apple but a lot of them are just internet based and if it's a national security issue money Power what do you want to call it revenue is a national security issue? So if they want to keep that type of revenue that is coming in they saw what happened with the internet I think they would be smart enough Hopefully that they wouldn't let this opportunity Languished outside and let other countries just gobble it up. Let's say Russia wants to get into it Let's say. I don't know Venezuela Let's say China really wants to really develop blockchain technology and go all the way forward and just start to really run the whole gambit Now where does the power shift or the power shifts the people to have the money? So when I take a look at this, I'm like, I think this could actually be a good thing if they don't over Regular, I know people will beat me up But that is what it is and this really comes down to my next point which is I spread this great article and It was talking about web 3.0 and when I hear web 3.0 Honestly, I just think of an upgrade a web 2.0 and it's not that's not how it works Okay, so web 3.0 is all going to be based on blockchain technology I mean it could be on layer one solutions like like Ethereum to actually log in using Ethereum So actually making payments using crypto and digital assets. You can't just plug that in to web 3.0 It's kind of be kind of like using web web 1.0, which was where you could say, hey, you know what? Do you here's my my travel agency you want to book something with the travel agency? Well come into my office because there's no way to do that on the website But I'll give you my address you can actually fizzly come in then web 2.0 came about and you could actually Transact on the internet and that was pretty cool, right now with web 3.0 now You're gonna be in charge of your own identity You're gonna be in charge of your own security You're gonna be in charge of your own crypto and digital assets and you actually will do this on blockchain technology And you're gonna actually own your own everything so you can't just kind of upgrade that and put that in there and I think if America figures it out and says you know what we would rather be at the forefront of that and Have that revenue come into our country just like we did with Google Just like we did with Amazon just like we did with all these big companies and we Regulate and of course then we also get the tax to live and tar out of them Which they do actually gather the taxing situation. I think it could be a good thing So I know people are gonna say this is the most awful thing of all time, but I think think this guy should be good And we can get a little clarity and lastly I will just say this if they come down and say everything's a security That's fine because you know where else you get a bunch of securities you can get on Robin Hood Those are equities. Those are stocks. So why can't we just say you know what all these cryptos are are a security or a Commodity or whatever else just make the decision so we can actually move forward. Let me know what you think in the comment section Pretty sure I'll get roasted on that one. Let's move on to our next piece Which is planting seeds. So look You know, it's not the greatest time and it's a little Bearish right now, but this is the time that you build you build up and go, okay Well, it's not the greatest of times right now. I did the same thing and here we are So what I want to talk to you about real quick is this little gem of an article crypto IRA platform I trust that's the one that's in the top left hand corner all the time raises 125 million in series a funding just quickly I'll say this Left lane capital of the round they came up with a hundred million dollars And then they got 25 million from left lane and other investors that which are unnamed great 120 million good for those guys This is the first time I trust capital has raised venture capitalist funds The firm was bootstrapped with 1.3 million in Total seed capital secured from friends and family. I had no idea. That's how they got started friends and family Got them to where they are for I trust. Good job 1.3 million American dream is live The series a round bring the valuation of I trust capital, which when I launched 2019 with friends and family money To over 1.3 billion dollars. That's insane. So what I want to do now is 125 millions a lot of money and I will say that I've been with I trust now for a couple of years Remember, that's where you can put your especially if you're in America You can put your crypto into an IRA and in that point whenever you retire at the nine and a half or older You can take those gains out tax-free. That's exactly what Peter teal did He put all his shares of PayPal in there when it was worth absolutely nothing And he's gonna be able to take it out that nine and a half He's gonna pay 0.0 percent capital gains because that's the law, baby So my question is this they stopped all the monthly fees he's between on 95 They got what they did away with that. They have more crypto now. I'm gonna ask Anthony Who is VP of marketing funds over there? Anthony Bertolino, what are they doing this money? That's a lot of money. So where's that coming to? Let's check this out. Here's an Anthony VP of brand Anthony. Where's all this money going? It's a hundred twenty five It's a hundred five million million dollars. That's a lot of money. So what are you guys doing with all that dough? Yes, so we are super excited to be here to connect with your audience with with our community obviously and We are happy that with left lane capital We have raised this money and a lot of people saw our social media announcement They saw the news on the block or Barron's or you know Wall Street Journal wherever wherever else it was and they said well What's gonna happen with this right? How is this gonna help us? And so we do want to let our community know we are definitely here for you This capital is gonna be used for really three main things So the first is to continue to grow the brand. We really want to bring crypto IRAs Mainstream we want to help crypto go mainstream So we are gonna continue to be getting out there with partners like yourself with other content creators and all the traditional Advertising so you'll you'll see us on the TV. You'll hear us on the radio You'll see us on your favorite YouTube channel digital asset news, right? The second one is we are going to continue to expand our team, you know building the one of the fastest You know FinTech companies in the US requires a lot of amazing talented people and so we are growing our human capital We're using this financial capital this money to get really amazing humans to build better products to get great developers wonderful marketing people You know account accounting everything that you would imagine in a company who wants to really go mainstream That requires a lot of talented individuals. So we want to recruit them We want to pay them well and we want to retain them and Finally is build amazing products. So we listen to our community We appreciate our community and we are going to take this money to continue to invest again in these amazing humans Who will build great things and so a lot to come in the next couple years for crypto IRAs for I trust capital And for all of our partners in our community. Yeah, I got it So to talk about let's let's dig into that real quick about the products because when I first came in I've been I've been with you guys for a couple years now And when I first came in first of all there was fees every month It was 30 bucks you guys wipe that away. That was great. The second thing was it was kind of a big pain There's a hassle honestly for the wire transfers I'm not a big fan of banks anyhow, and now I got to pay for a wire transfer fee and everything else. Are you guys? Helping that out or moving forward in that. Yeah, so always Encountering the pain points are what we want to do. So first really those monthly fees were a big pain point for people They said hey, I just want to start a small IRA and get going over the years I really don't want to be paying, you know 20 30 dollars a month, right? And so we wipe those away We cover the cold storage fees and everything that goes along with that and you know, we enjoy it We've been continuing to grow rapidly the next phase was people said hey, you know when I deposit money It's still a little difficult, right? I'm setting in a wire and it's taking You know two days it costs thirty dollars, etc. So we rolled out a ch payments It integrates directly with your bank and it's a little easier this week We're gonna be rolling out and we're testing it should hopefully it goes well And if so, we'll lock it in that next day a CH so you want to make a contribution to your IRA Just do it a CH payment and the next day you should be able to be good to trade And so these are the pain points. We always want to hear I I always want to hear what is wrong so we can solve those problems and ACH is is something that's coming out this week faster a CH Yeah, that makes sense and because I mean to get things going and moving great because if you you was talking about cash contributions and that As a reminder everybody if you're the United States the last day for cash contributions is April I want to say April 15th. Am I wrong there April 1st April 15th for cash contributions for the previous year Because for me and I think most most people at seven thousand dollars per calendar year that you can actually Contribute to your Roth IRA and then of course that is tax-free when you turn 59 and a half unless you retire early and you go through All that rigmarole, but that's not the thing. So okay makes a lot of sense there and then Talk more about products because I mean the ACH is good And then I know like I mean you've got some there's some pretty good product that you guys have as far as you know What you have to actually get into for crypto as far as an IRA Ave Cardano Algorand's a new one I'm gonna have to actually Put that one avalanche. What's what's the new ones because these look well? I know gold and silver actually know what I own gold and silver in mind as a matter of fact So all the gold bugs you can put it here, too. I think mana. Was that a new one or no? Yes, yeah So the the two most recent additions have been decentral and mana for those who kind of want to get exposure to The metaverse the NFT economy right Decentral and one of the leaders there avalanche was just added Last week or this week potentially Monday And that is you know another layer one blockchain that sort of uses the Ethereum virtual machine to be more scalable with smart contracts So I know people have been asking for new assets. We we definitely hear you and we always appreciate The requests we were a little slower to release some some assets and now we're back in the groove so people are going to continue to see new assets hopefully your favorite assets that will be available on the platform for you and everyone to self-trade and You know where we're continuing to really build on to the greater vision, right? The the first step in a crypto IRA is being able to sort of self-trade Buy or sell on the platform with the assets and we are building. What is the grand vision, right? You know interact interacting with staking DeFi and things like that so our team is always working very hard to bring what the community wants and You know, it's it's amazing time. We're always happy to hear from you Yeah I know like like people talk to me all about it because they they think it's great that they can actually trade within the Roth IRA and not Pay any capital gains tax and I'm like, well, I'm not a big trader But this probably would have been a great time when Jerome Powell comes out because the day is January 26 2022 we're waiting for Jerome Powell to come out and see how much he's gonna raise the rates So that's just something to keep in mind and then lastly I was gonna ask you the question Which is I know you can't speak for you know for every specific thing that is going on Time is limited, but Anthony for your for your vision for eye trusts products What do you see coming on the pipe that you guys could potentially do and how do you envision everything? Yeah, so really when I think about the the development of the crypto landscape It was you know, just a few years ago that people were saying hey There's there's not even custody the reason why institutions are not moving in is there's no secure custody So now custody has been solved and then people were saying well Hey, you know people are not really adopting crypto There's not a lot of good companies out there, etc And then you know, there's a coin basis of the world the Celsius of the world the I trust of the world and now people are still saying The you know with the the worries around taxation and so many people moving and I mean whether it's Puerto Rico Whether it's Nevada people are genuinely fleeing places to try to lower their taxes, right? And so we just feel we're at a very interesting point right now where Crypto is this very important asset from a macro perspective for so many different ways Taxation and people wanting to optimize for taxes is Potentially at the top of minds of a lot of people and that's where we want to be there to fulfill and bring those two things together With the perfect marriage to essentially have crypto with tax advantages And so I'm obviously not a financial advisor or a tax advisor But it would be very important for everyone to at least consider if a crypto IRA fits into their financial plan because again You moved I moved a lot of people are moving to save on taxes What if there was this thing called a crypto IRA that provided tax benefits? And so now that we have that we are making it so you cannot hopefully not just self-trade But is the full Estanciation of crypto where you and me and everyone will get our ledgers and we'll go deposit assets into Ave or go on to sushi or whatever that is I hope one day that you can be interacting with the blockchain and getting yield and Participating in governance and doing everything you would want to which crypto in these assets are designed for But doing it inside of your crypto IRA because you're protected now There's a lot of unanswered questions and not a lot of regular regular regulatory clarity on clarity on these things Right if I governance ever been in a crypto IRA has anyone ever voted on a blockchain protocol. No Do I want to see that? Definitely and so we work with our legal team We work with leaders to see if this is possible and if it is possible within an IRA legally We would like to technologically build it and again That's just my vision a lot of people in the company have different visions and we're trying to come together to build an amazing future and I think that the future is definitely bright left-wing capital our partners partners like you and Yeah, yeah, well, you know what I want. I'm just waiting for it So we'll see how it all works out But the last thing I will say is that people people ask me now like well Rob here in Puerto Rico So what's the difference because now there's no capital gains, but you understand I mean just like in 1933 when gold was confiscated Governments can change anything and there is rumblings right now in the Puerto Rican Senate to Take away act 60. So who knows what could happen. I'm just here to hedge my bet And that's why I'm still still have things with I trust so Anthony any last words of wisdom for we take out of here No, just much appreciation to you and your amazing community who has came and really welcomed us and have blended together So we're here for you we're here for your community and we're here for the crypto economy and we're not going anywhere Awesome. Thanks man. All right, everybody. So thanks Anthony for stopping by appreciate. Let's jump back. All right, Anthony So thanks for stopping by appreciate that then just to finish up as far as like planting seeds because that's just a Good idea to do I will just say I'll leave you off with this if you're in America tax time is coming up So if you need to actually water those seeds and do the things you need to do Don't avoid taxes. I'm sorry to say that the IRS will find you So this is the program that I use crypto trader tax when I first started up and when I loaded it I got everything in there to me 30 minutes to get it all done and shipped over to my CPA So this is the easiest way to use it. There's a link in the description looks just like this and it gives you 20% off So also as a reminder, it's not just the API integration which they now have with Voyager But also with decentralized exchanges So if you were a D gen and bought it and bought a different crazy stuff out there You're like, wow, how do I do that? Well, I guarantee the government probably knows it In some way shape or form and you can a be able to Actually get through all those transactions through crypto trader attack. So that's it for today. So look That's all we have and final thoughts. I will just say Lastly, I know it's been a tough Couple of weeks and I know if there's a it's a it's a tough road ahead but In all honesty This is where millionaires are made and I hate to say it like that I know no one wants to hear it because we all want to see everything go up and everything's the moon and Lambos and moon shines and it doesn't work like that. Unfortunately. It's just one of those things and I'll be here for the long haul You'll see me here every single day and I'm right there with you. All right, that's it So if you liked the video give it a thumbs up also consider subscribing I think to talk about our time sensitive and that's all for today. So thanks so much for watching I appreciate it. See you on the next one