 Welcome digital asset news to get top stories and crypto currency digital assets and a big amount of bite-sized pieces today We've got some pretty good stories about essentially what is going on with Congress and What they found out as far as their congressional hearings and the five different pieces of information I think are pretty important for the crypto investor if you're worried about regulation And also we're going to take a look at what is going on with grayscale as they have added Cardano as their third largest hold in their large cap fund composition and finally we're gonna finish it up with a little update about what is Going on with the world mobile token as that set is set to go live on July 4th, July 5th, and what's happening with the token itself So we'll take a look at all those things but first let's take a look at what is going on the market So today it is July 2nd. It's about high noon. I'll pass out Texas time and the market is boring That's all I can really tell you There's nothing really going up nothing really going down the total mark cap is 1.38 trillion We had touched 1.5 an hour back again and just like I said before I don't believe That July is gonna be fireworks and there's gonna be explosions everything's gonna be just you know got getting knocked out of the park this is the time when it's boring and nobody's interested in crypto except me and That is really what it comes down to I think nothing's really gonna happen till like August September when everything starts to kind of Come into play EIP 15 59 is in play for Ethereum middle of July. So that's great smart contracts come on board for Cardano So that is great. There's a lot of different things that are happening in August, September, October and this July I think is just boring and That to me is exciting because this is the time I Personally believe when all the money is made. This is what I did back in the day when it was super boring I just dollar cost hours around this time when no one's paying attention and I think it was just stagnant and I could just accumulate as things came in and That's what nobody does and that's where I've made my most gains So on this channel, this is not investment advice. It's just investment opinion And this is where everything is now look at back in these days Remember in July 19th when Bitcoin was a whopping $3,400 somewhere around there or even lower those are great days and imagine when Cardano in that time was three cents and then chain link was nothing and I mean everything was just there was it was didn't really matter and everybody and the theorem was like 300 bucks 200 bucks. So yeah, these are the times when I think it's it's the best time to invest But that's just me. Let me know what you think in the comment section. Let's move on to our first piece So this part here I thought I felt it was pretty pretty interesting about what went on as far as the five things that came out of the congressional hearing this just happened over a couple of days and It was a well put together piece by decrypt And I'm this is a great thing that where we can just paraphrase and kind of chop down what happened So here's the five things that I think we all need to know about so the first thing is that the crypto needs crypto industry needs better regulation. This is the things I've been talking about for quite some time and I've been beating the drum and no one seems to few people seem to believe you but I still do think we need Clarity about what's going on not the only one So Tom emmer who's a big supporter of Bitcoin and crypto says the exact same thing He says America may not get the full benefit from its crypto entrepreneurs if innovation is style stifled by lack of clarity His concerns, mr. We're shared by many other reps and crypto experts He called for a robust classification system for digital assets to determine whether cryptos are securities commodities or Merit the same treatment as fiat meaning is it going to actually be a currency like what El Salvador is doing with Bitcoin? Right now. He says Bitcoin and blockchain They are they're actually better transparency and trust than traditional systems And I like that part where he called it out and go look if you're looking for the most transparent Financial system on the planet blockchain has everything beat. We went round and round with the banks Back in 2008 and they didn't really do too well for for us. So maybe we should give this one a try so Shout out to rep Tom emmer for actually pulling it down and the second part was Just like I said about 2008 the 2008 financial crisis was on the lawmakers minds when they were debating all these things and a lot of this This thing came out about 2008 2008 and they were worried that the the states would need to prop up the crypto markets And just as a quick refresher This was the problem with the banks back then they were giving junk loans to people who had no ability to pay these things back on Junk assets so they were you know did whatever a house was worth They'd be like, ah, you know, whatever we'll just you know do that and then of course junk bonds and all these different financial provisions that they would invest into which we're all just stacked on top of absolutely nothing and the underlying asset was worthless So if you take a look at that There's a pretty good argument for what they're talking about with crypto because people are dumping a lot of money into crypto not as much as when we had 2.5 trillion market cap, but they still are dumping a lot into it and They're getting into different Assets that are worth absolutely nothing and they're saying well, this is a concern, but here's the thing What's the difference between something like that and then getting into something like in the stock market which Really has I mean the business just folds. I mean people just lose their money there as well So when they're when they're concerned about it, I Just kind of kind of have to take a step back and go remember You know, there's only so much that that we can do as far as like educate people and to move them forward But in all honesty, I mean Cryptocurrencies and digital assets I still think are gonna be one of the big driving forces moving forward So if they're gonna let them a lot of do this This is where we should really get together and actually talk to people about doing their own research Finding out about the tokenomics seeing which actual products have utility and not just because I'm kind of hype And that's why I made dad teach us crypto The thing that's always circling above my head or actually right down there 100% free website You can kind of learn about everything you want to know or most what you want to know about crypto So there is that part itself now moving on Number three is that this is a democrat democrat rep brad Sherman wants to shut bitcoin down He's probably seen a bunch of memes coming about About this guy and he's for california's 30th congressional district and before you give me any thumbs down because you don't like Democrats or you don't like Brad Sherman or whatever else don't give me a thumbs down for that Give me a thumbs down if the video was just awful and it sucks Don't give me a thumbs down because of your political opinion. There's nothing to do with anything So anyhow rep brad Sherman states, uh, he would rather People make bets in equity markets. Sure Or the california lottery then invest in crypto and I kind of see his point on the lottery thing because When you invest into invest when you put your money in the lottery It does go into like the taxes and things like that. So I mean sure, but it's so stupid because I mean That's just like that's almost like a charity in all honesty If you want to go into lotteries The chances of you making anything are pretty low and the chances for that being put into taxes is pretty high And uh, let's see how the california works with that. I'm not here to debate. I have no care about that But uh, lastly he says he called for nothing less than to shut bitcoin and cryptocurrencies down But it is pretty interesting where he says, you know, you should go into equity markets, blah, blah, blah So I was curious about mr. Sherman and what uh, where his agendas lie And this is brad Sherman right there. There he is representative soon count from me opensecrets.org and uh here For all his donors, uh, the most that donated to him were securities investments Insurance 766 now, let's take a look at uh, uh, who were those top contributors? Pro is real america pack. Great. Okay. Uh, capital group companies. All right, uh, blackstone group black rock, ink American institute cpa's and he noticed that the total isn't that much But um, it is what it is. So take that as you will and uh, maybe there's a Agenda for there because you know, look if uh, someone's paying paying your lunch It's kind of hard to kind of go against them and just say yeah, you know We should go into crypto currencies, but uh, I'll let you be the judge of that and let's move on to number four number four Uh, most members of congress are keen to gain more and understanding crypto And I thought this was a bright point Unlike rep Sherman the majority of the members of congress were eager to find out more about crypto. That's great Uh, because look, uh, a lot of them don't know anything about them they just know there's this thing called bitcoin and they probably heard about dogecoin and Maybe a theorem. That's about it. That's all I know. They have no idea what it is So it's good that they actually, uh, you know are like taking a keen interest Van Valkenburg was keen to enlighten them emphasizing the technology is transparent And peer to peer nature and its resistance to censorship and sustainability compared to the traditional finance system The latter as far as the traditional system. He said uses an estimated five times more energy than bitcoin Let me say it again The traditional finance system uses five times more energy than bitcoin just food for thought Okay, someone says bitcoin's sucking up all the energy and uh, then you can come back and say well, you know, we are using a lot of Uh renewables, especially here in texas using about a third of wind and solar But that's another argument and then lastly and this was the best. This was the best fiat's potential for money laundering puts crypto in the shade meaning that uh fiat or cash Is what everybody is using for money laundering rep Anthony gonzales was keen to highlight a little sided figure in the debate about crypto and aml And he says, uh, I would ask compared to what? Compared to fiat where 99 percent of money laundering goes unprosecuted as opposed to cryptocurrency He states it's an argument that many advocates of crypto and even legacy banking institutions have made a september 2020 report by the Society for Society for worldwide interbank financial telecommunications or swift as a that's an awful acronym noted that the number of identified cases of money laundering using crypto Remain relatively small compared to the volumes of cash laundered through traditional methods. I'm sorry, uh, gonzales did not say that that was just a little piece there And of course, it's not likely to silence regulators. So, uh, that's great that rep gonzales Said that he said look 99 percent of money laundering is still fiat. So because of that, uh, I have to give Mr. Anthony Gonzalez a follow here on twitter. I will link his Twitter handle and sound like he's on the right track. So all in all To be honest with you, I think it was pretty good about, uh, what came out of there I'm sure there's going to be some negative. Look, you can have 99 Positive stuff come out of a of anything of any story of any hearing and then the one percent gets amplified to the moon That's why I like to talk about the positives here about what's going on crypto and just move forward So let me know what you think in the comment section I see this as a as a win for us as things have been put out Especially the whole thing about people actually wanted to learn more about crypto and there'll be an ongoing debate Let's move on to our next piece. So this one I like this one grayscale and cardano I digress. Let me let me come back here. This was a nice little, uh Tweet that I retweeted out and this was uh today and they state from grayscale right from them We adjusted the portfolio of grayscale digital large cap fund by selling certain amounts of the existing fund components And we now have cardano. This table shows the funds weightings as of today july 2nd 2021. So chain link 0.86 watch out litecoin 0.99 percent. All right bitcoin cash one percent Cardano four percent pretty good. They must have been bought a lot of it and uh, But it is still pales a comparison to bitcoin and ethereum But look it is something and it's good for them to put these things in the mix now I just will tell you I am super biased Because I have cardano. Also, I have a cardano staking pool Which if you go to danteacherscrypto.com right up there, uh, just click on a to a to staking nice little video It explains what staking is how to stake and how d news compares all the different stake pools out there So, uh, I was pretty happy to see this and I was kind of surprised that it was uh, you know one of six they're pretty Uh, pretty conservative and actually what they get into so they must see some type of future and just to uh verify grayscale digital large cap fund announces quarterly rebalancing and I'll let you read this and just a paraphrase they said that um For them to actually put money into another type of large cap They actually get rid of something and they move things around that's what they did with chain link before And they said we're excited to announce or to welcome cardano to our digital large cap funds portfolio As we work to ensure that our diversified funds can safely hold assets that collectively compromise 70 percent of the entire digital asset market. This was Edward McGee vp of finance. So look, I mean You know cardano was in the top five So it'll slip it'll be between five and seven depending on the days That's how it goes But it's good to see that they've put cardano in there. Cardano has a pretty It's it's gaining momentum we'll say but uh again and people will say this all the time But rob, what does it do? What does it do? What does cardano do well right now? Not much Let's say that's that's that's the truth and uh, we won't see the full potential till smart contracts roll in in august And uh, that leads me to my last point where we're going to talk about world mobile token and just so you know Again, I'm an advisor to this one. I advise this This project, but I've talked about it at length when we talk about real world utility This is the one that actually does things. Uh, they've already Gone into tanzania. They've already put in a smart village essentially where they put in solar panels and also pods to Give telecommunications internet service and I'm going to the video itself Is over on dan clips and we interviewed the CEO, but this one is I had a talk With one of my contacts there at world mobile sedric and we're going to talk at length We talked about two minutes or so and that video will will air tomorrow on dan clips And what we talked about is just the uh, what's going on with the vault creating the vault Which will actually get you in there and you can get into the pre-sale and everything else Unfortunately, if you're in america like myself if I click on create vault, it's going to tell me Tough because you're not you're in the states and that's just how it is. So if you're in the state, sorry But we do me and sedra do talk about secondary markets and when all this thing will happen but it's uh going to happen on july 4th And uh, there's a certain time frame. So you have to create your vault and then you have to get in at a certain point and that's the big thing so Wait for that for tomorrow and we'll talk to sedric and that is it for today. So look uh exciting times exciting times on what is going on for The market and when I say exciting times. I'm just kidding. It's super boring, but These are the times when the investor Of me just comes out and says this is the boring times. No one's paying attention to these projects They're just letting them sit and no one really cares But the projects themselves are the ones that are making all the headway. They're forming partnerships They're strengthening their base. They are working for acquisitions and marketing all those things later on so again, I still think that this is the best time and When when the market explodes and goes up like a hockey stick That's when you'll see everybody else in uh and youtube land and twitter and tiktok talk about how great crypto currency is I talk about it right now and then when the thing just takes off. That's when I don't really do too much And I just talk about hey mark is taking off great, but uh not good for me because I've already done all my purchases before And that's it for today. So look thanks for sticking with me to the very end I appreciate it if you like the video give it a thumbs up and like uh it goes a long way And uh, if you like these types of videos for daily news subscribe to the channel We only do daily news here on digital asset news over on dan clips We talk about more advancements and different projects you can follow us over there links in the description But that's it for today. Thanks so much for coming by appreciate it and we'll see you in the next one