 Welcome digital asset news to get top stories in crypto and big amount of bite-sized pieces today That's some pretty great stuff coming up first up grayscale says Institutional fund featuring Bitcoin and theorem Cardano and others is now registered with the SEC And this will play onto a piggyback of another big story going on where B&Y Mellon the oldest bank in the America and almost the world grayscale investments forges agreement with B&Y Mellon to provide asset servicing and ETF services for grayscale Bitcoin trust. I know we've heard a lot of things about ETFs coming up But I think this one might be actually the real deal and we'll follow up with some interesting stories about cryptocurrency trading volume plunges as Interest wanes and we're gonna take a look at some FUD articles and what is actually going on as far as boots in the ground around the entire nation and Most specifically Texas so take a look at all those things that are going on But first let's take a look what's going on in the market and Markets down so we've got a market cap of 1.35 trillion again We're down great stories all around but here we are and Everything is just down across the board. I'm gonna go over it. It is what it is July is gonna be a sucky month We'll just say and I think we're gonna rebound in August and September and October Especially with what's going on over here. So let's just break into today's top story where we talk about grayscale Registered with the SEC. So what is going on here? This there is no coincidences and when both of these stories break at the same time makes me sit up and take notice So the large cap fund containing a six top crypto assets including Bitcoin Ethereum Litecoin Bitcoin cash chain link and Cardano is going to be registered with the SEC Vice president of legal at grayscale Craig Psalm says this We hold our products to a higher standard because this is what investors want and what we believe they deserve events such as the large cap Fund becoming our third SEC reporting company and the additional form 10 filing signal that there is Continued investor interest in gaining exposure to the growing digital currency ecosystem within existing regulatory frameworks. I know we are not big proponents of Regulation I know some people in the community just hate it, but I'm telling you I've said this a thousand times We need a little bit of clarity to really get this thing moving and if we don't there is so much Ambiguity out there that big businesses and big money really can't get in So just give us a little bit of regulatory clarity and we can actually move forward And I think this is a step in the right direction Given the approval the large cap fund will now have to start following quarterly 10 Q's and annual reports 10 K's along with its grayscale Bitcoin and Ethereum funds Additionally qualified investors who purchase shares in the funds private placement will have the required holding reduced from 12 months to 6 months under rule 144 and here we can just see the actual filing right here SEC form 10 and blah blah blah blah blah. So that's great. Good for them So here's the big thing what it says right here about holding period reduced from 12 months to 6 months there is a Unlock period that is coming up around the 17th 18th 19th and going all the way to the 28th of this month in July And I can just tell you that for all the things that are happening people look at that and like oh, no Gray scales, you know unlock all their Bitcoin, but it's just like Willie who says it's like the hotel in California You can check in but you can never leave and check out you never leave whatever Really what happens is Bitcoin goes into these into gray scale and they just issue these funds This paper this it won't kind of like an ETF and what they're releasing is the actual Lockup period or the actual funds that are in there and it's not the actual Bitcoin so they can sell and do whatever else they want with a bit With the paper as it goes up or down. That's not the big thing. So when people start talking about odd There's gonna be this huge crash. It's not They're not selling Bitcoin Just the other parts of it and that is it. So that is the first part I think to one of one of the bigger stories and look gray scales the adults in the room Which leads us to our next point where we talk about gray scale and BNY Mellon. What's going on here? Well, this is from the actual website of BNY Mellon. So we know it's actually legit July 13th gray scale investments announced today that is selected BNY Mellon as an asset servicing provider For a grayscale Bitcoin trust, that's great than the again banks getting into the foray of crypto currency BNY Mellon will provide gray scale Bitcoin trust with fund accounting and Administrative's administration effective October 1st 2021 Additionally, it is anticipated that BNY Mellon will provide transfer agency and ETF services For the grayscale Bitcoin trust upon its conversion to an ETF Why is this so big? Who cares if BNY Mellon gets into it? Well, it's not about what you know It's who you know and guess what BNY Mellon has a nice little 2.2 trillion assets under management and 41.7 trillion assets under custody and administration and they are in 35 countries So if you don't think this is like a big deal for what, you know BNY Mellon getting involved in a cryptocurrency and handling all these things I Don't know what to tell you. It is a big deal. So to finish this up The agreement will offer grayscale improved scalability resiliency and automation through BNY Mellon's market leading platform including BNY's proprietary ETF center They got an old center for the ETFs which offers technology Specifically designed to support digital asset ETFs. Look what the SEC is looking for is safety They don't want people to get screwed over and I know people will debate this all day long That's their job, right? That's their job And I assume that some people don't do their job But a lot of people do and I think what they're looking for is assurance There's not all this manipulation and then they can actually trust something and you know They can put it out to the people and they won't get like I said screwed over So I think with BNY Mellon coming aboard and going look here's all the information that you want We've already done a ton of these right now. We're doing we can get this out to people. Just trust us Let's do a filing. Let's make this happen. Bing bang boom. That's it. So then to finish up Michael son and shine CEO of grayscale investment says BNY Mellon has a long-standing Reputation as a trusted provider and has established one of the first teams dedicated to servicing the growing digital currency asset class We are pleased that BNY Mellon will join a group of grayscales best-in-class service providers helping us deliver a seamless industry-leading Investment experience and I couldn't have said it any better. So look, I think this is big news We'll see it all plays out. We've been hearing about ETFs since 2012 and it hasn't happened yet But we have never had these rails like we have right now. So I'm positive. I'm cautiously optimistic and we'll see what happens. Let me know what you think in the comment section Let's move on to our next piece About the good old trading volume of cryptocurrency. This was an interesting one Because there's multiple layers here and it talks about crypto currencies on a slump trading volumes are down 40% Across all the exchanges in June Bitcoin hit 28,000 which sucked, but here we are I think it actually might hit that again in July. That's just me But the report pointed to And they're talking about why this all happened the report to China as a major catalyst Remember that China Aquinas Reuters, which reported on an earlier Monday China's latest of many efforts over the years to crack down the industry have had a greater impact than ever before Let me show you a picture of what I'm talking about This is always the thing China bans Bitcoin all the time, right? So just so you know if you're new to this space China's banned Bitcoin and miners and everything else since 2017 They did in 2018 209 20 and they're gonna keep doing it because they're gonna keep Re-emphasizing that they banned it and that lame stream media is gonna pick it up and go hold the bin Bitcoin They already done it. So like all the different Bitcoin miners that are moving good I thought it'd take a lot longer. I thought it was gonna be like the free market enterprise They're gonna slowly come here. China just gave us a gift and said get out and guess where they're going Here Which I'm happy So the Chinese crackdown has caused a lot of fear which are showing up in markets said Teddy Vili chief investment officer at Purval or Purvaya group The digital digital asset ecosystem got punched in the face So it's currently up against the ropes versus fighting in the middle of the ring typically when you have large sell-offs participants are quite fearful and pullback their ships and this is This is the mentality of everybody out there But the the average retail investor doesn't really dig deep and find and figure out what's going on We know what's going on. This is good news and in a little bit I'm going to bring in my friend Ian and he's going to talk about the different things that are going on in Austin right now with all the Bitcoin miners coming in because he is the boots in the ground guy Who can tell us exactly all these Bitcoin miners from china? And they all want to be here, which is great So also factors behind the crackdown try at China order to halt the crypto as it pairs to launch its own state back Digital currency the digital yuan good for them and the shutter mining operations 50 to 60 percent great. Whatever so I find it odd though That of all the things that are happening. There was an article that just came out Which talked about bit main co-founder Wu says regulatory pressure is healthy for crypto and this was his direct quote Crypto billionaire said that while regulatory pressure has increased the higher level of interest Will benefit the reputation of crypto overall So that while so we're talking about regulatory pressure meaning that hey If we want to actually be taken seriously We need a little regulation and that's from a guy who just got booted out of his country So I think there's something to be said there to finish this up Additionally the emerging esg narrative or clean energy narrative around bitcoins proof of work consensus mechanism And negative regulatory undertones from the financial action task force has really caused a big plummet Again, we're going to take a look at what's going on in austin a little bit lot of clean energy here in texas just saying Once these stories begin to permeate the market in may A sentiment dropped to single-digit levels on a scale of 1 to 150 sentiment analysis said nick mancini research analyst for crypto sentiment analytics Platform and trade the chain. That's what we always use every time we're doing these videos So check that out link in the description sentiment analysis trading all that great stuff. So whoops So eventually this resulted in trading volume for bitcoin dropping when nearly half Down 32 and that's no good and which is also very odd And and nick also put this out a couple of minutes ago before I did this video and he talked about the cpi the consumer price index so Inflation is good for us as far as like crypto investors because it shows that all that money printing Where all the economists and all the federal reserves like it won't affect anything. Well, here we are The cpi the consumer price index just came out today price index raises 5.4 or the cost of goods is skyrocketing consumer price increased 5.4 in june from a year earlier the biggest monthly gain since august 2008 Excluding food and energy inflation increased 4.5 largest moves since september of 1991 And used car and truck prices comprised about a third of the total cpi increase because all the difference To not tools tools and and supplies of things that you actually need to build these vehicles, especially right here in america Went up steel automation robotics anything you want to think glass Wood not that wood is used but wood's gone up tremendously. So again, we see these stories that would Be positive as far as like what's going on and would actually be good for crypto and digital assets But yet Let me take a look at the market. We're still down. So I think people it doesn't matter what we say Sometimes not because we're the only ones that actually know what's going on in the real universe here in in crypto land Uh, but the again, I think people just get scared. They don't really realize the benefits that are happening So that'll lead me to my next point which i'm going to bring in ian Who's over there at token metrics and he lives in austin and he's going to tell us what's going on In texas as far as bitcoin miners and what's happening Okay, so as promised what I did was I brought in somebody who actually has uh, a pretty good information set as to what is going as far as boots on the ground for this ridiculous Cryptocurrency or a bitcoin mining situation as everybody moves around everybody welcome the show welcome back to the show I should say ian bolina ian what's up Doing well doing well. Uh, how are you? Not too bad. I see you got a snazzy like I said a snazzy new background token metrics Yes, uh over here in austin texas and things have been going pretty well in terms of bitcoin mining So definitely here to discuss any insights. Yeah, so the insights is like this I'm getting pretty ticked off But these it seems like we get these positive stories But then we get these negative fud stories about all well poor china You know they're the letting go of all these different miners and and they got kicked out And i'm like I don't care what happens and what really is going on in china What I care about is how the infrastructure is being moved from one country into other countries and especially in individual regions So you live in austin and when we were talking you told me something interesting About the miners that are coming over there. So let us know what's going on there as far as like uh in in country So what do we got? Yes, so lots of miners from china have been moving over here to texas because texas has lots of clean energy Is was one of the few states that's not really tied to the whole country's uh grid But the main thing i'm saying is so i met a ceo of a crypto company for bitcoin mining with clean energy And he told me a business here is blooming lots of miners from china coming over here primarily because Even though crypto here is not as Open as other parts of the world. Yeah, there's less political risk All right, so somebody can come here establish a business And not be afraid of the government coming here and taking the business Right because here there's just more freedom in that sense. Yeah, and that's makes sense. Go ahead Plus also having a place like texas or other parts of the country with clean energy If because now bitcoin miners are getting into the marketing business ilan musk and tesla kind of called them up by putting them on front street by saying Bitcoin is not really An energy efficient so now all these miners are looking to reinvent themselves So what better place than to come to texas or other parts of the world like this It yeah, it is interesting and then here's here's not an interesting thing Uh, I think one of those tesla factories is right down the street from you guys in in austin. Am I correct? I mean Somewhere in austin actually in this building. I mean there's also rumors that tesla might be opening an office here So tesla is basically taking over austin texas in essence I I find it very interesting about one thing and that is that you know elan talks about clean energy And all of a sudden he's in one of the great states that has a ton of clean energy and a ton of land and a ton of space If you're if you're not from texas, you don't really realize like just how vast texas is now Alaska's course is is a much bigger state But it's one of the biggest states think the second biggest state in america and we just have just sprawling lands And we have a lot of nuclear. Well more so wind and solar So so again real quick when that's when that ceo was talking to you about it when he says business was booming Was he talking about the people coming in was he talking about building infrastructure? Or was he just talking about requests from different people Uh, uh, who's who's talking about people coming in uh new customers coming in and just the level of interest In bitcoin mining in texas prior to other past years So they definitely did see a shift because we pretty much china had over half of the hashing power and bitcoin And now the hashing rate dropped almost 30 percent. So that's migrating to to the us So in a way, I think it's beneficial long term for bitcoin because now China doesn't have too much control of bitcoin hashing power, which I think is great. I'm so happy with that I don't I never liked to go over there. And that's just how I felt but um, we talked Yeah, white likewise, right? We had uh, we had chet everett on from winstone He's also over there in texas and he said the same exact thing a lot of people coming in He talked about but the one thing that he did say which was interesting to me was that his their whole game is infrastructure building infrastructure for these miners. He goes These guys just don't get it. He goes they come over here and they think that we're going to set him up in a month He goes it's going to take a year plus to get everything going So I know that the business is booming, but I don't see These miners just moving over and just kind of just building it all up All of a sudden, but I'm glad that they're coming here as opposed to I don't know casik stand or some crazy place like that So yeah, so I can see it. So okay So anything else going on over there austin in austin as far as like blockchain technology that type of thing Yeah, I mean I moved here one of the main reasons there's a huge crypto community here almost every single which is a crypto event and there's lots of interest so Not just miami is becoming a crypto capital of the u.s But also austin so the way I view it is you have Wall Street that moved to miami during the pandemic then you had silken valley that moved to austin texas So you have basically vcs and austin and you have Hedge funds moving to to miami. So for me since I'm more of a long-term valley investor This has been a great community and a great scene to be here in in crypto Yeah, I agree and I'm going to do the same thing with Puerto Rico I think there's a lot of crypto people over there. We'll see how it all works out and then Ian before we take off Let me just share my screen real quick. Ian if you guys remember for uh, gosh What was it six seven months ago or so we did a nice little video About doing your own research and he was able to graciously tell us two different ways to do it First of all was his was the old-fashioned way to look up all the information You know find out, you know who the team was look behind it read the white paper and it was great You can find that all for free at dan teaches crypto.com. It is in module four is a very first video So Ian, I think that's like one of the most popular videos We have on the channel because everybody wants to know how you turn 20 000 to 5 million and then on top of that There's a link over to uh, Ian's channel So I have to tell you for thanks for coming on the show So I'll just give you a nice little plug over there at token metrics real quick. Tell us about it What's going on? Yeah, so thank you. Thank you for all the support. Thank you for the Interest of your audience in token metrics. We always want to give crypto customers or crypto people a better Better insights into becoming smart investors using data analytics and machine learning We're currently doing a reg cf crowdfund right now. We're testing the waters. So our crypto community has been indicating interest to Basically buy equity in token metrics right now. We've already raised over Three and a half million on we funder you can check it out by going to we funder.com Slash token metrics and our target is is uh four four million. This is really a way for us to give back to our community um, we funder w e f r e f u n d e w e f A we funder. Yeah, we yeah, no worries. Yeah, so this is a way for our community to get Oh, wow. Yeah, so it's a chance for our community to get equity in token metrics The minimum investment is $100 and we could have gone and raised money to vc But for us wanted to follow the crypto ethos But do it in a legal manner because right now the they're still unclear Oversights into crypto regulations here in the us So this was the best option for us to give our community and customers a chance to get ownership in token metrics So thank you for the support and appreciate everything. Yeah, no problem. And then uh real quick because everyone's gonna ask Uh, so rob, uh, you must have gotten paid for this. You got to must have paid for this. You don't understand Like in this community, it's it's us against everybody, right? We're battling the government We're battling fud. We're battling the lame stream media So like like when I get ian ian to come on the show and uh, he's super busy I'll plug his stuff all day long ian. Thanks for coming on No money and all that stuff. I think I'm actually do a little uh a little digging into what you just talked about as far as we funder So my man, thanks for coming on. I appreciate it anything any last words of wisdom for the uh institution Sorry for the retail investor out there I mean think long term When in doubt zoom out We we we all believe cryptos is going to be the future. This is the next Evolution of the internet. This is open finance. So don't look at the day to day the month to month Think long term. That's where the real money is as a value investor in crypto Or in any capital market Exactly. I wish people would just zoom out and stop trying to chase pumps You're only you're only going to fail just dollar cost average value cost average do a split of both and just Set it and forget it. All right, ian. Thanks for coming on man. I appreciate it. All right. Thank you All right, so that's it. So I hope that helped. Uh, look, um I think again that things are going to be uh doing pretty bad In the rest of this month July so just be prepared just immensely be prepared that things are going to drop But the question you have to ask yourself is am I a short-term holder short-term trader? Or am I a long-term investor and that's really what it comes down to on this channel. I can't give you advice I i'm it's just investment opinion not investment advice. So you uh need to do your own research Do you do diligence and find out what's best for you and your family? But for me personally, I'm just going to hold to this because I see some very bright days ahead Coming up this year 2021. So anyhow, that's it. So look if you like that video and you found value give it a thumbs up Give it a like also consider subscribing a lot of things we talk about on this channel are very time sensitive And over on dan clips, which is that little thing right down there says dan clips That's our second channel and we just did a deep dive into avalanche And why I think it is the amazon of uh cryptocurrencies and uh, you can check it out over there when it goes live Maybe today or tomorrow. So that's it. So thanks for watching. I appreciate it. See you on the next one