I Got Rich Off Bitcoin. This Will Be Even Bigger. Transcript, AI Summary & Key Points

00:00 Three big things just happened in crypto that 100% affect you if you hold the coins, the crypto coins. Watch today's entire video so you understand everything. This has never happened before. And while I've made money in Bitcoin, I'm a long-term investor in Bitcoin. This is bigger. So, number one, this literally just dropped a few hours ago. The CFTC has just released updated guidance for Bitcoin, crypto, and blockchain tech.

00:27 The wording, this wording is a little complicated. Stick with me. So, basically, the commodities futures trading commissions market participants division, the division of market oversight and division of clearing and risk today released updates to the frequently asked questions concerning registrant and registered entity activities relating to crypto assets and blockchain technologies.

00:56 Again, that's very wordy, but all that to address this. Well, this was to address investments of customer funds in tokenized forms of permitted investments and the use of blockchain technology to satisfy a registrance recordkeeping requirements. So, this was nothing revolutionary. In fact, this document was originally released back in March of this year.

01:20 It just got updated. More clarity. And this is a signal from the CFTC that it's okay to release tokenized products. Come on the blockchain. You have our support if you follow the basic guidelines which we put out right here. America has never had that. We're finally getting it. This could be rocket fuel on the crypto market because America's financial system has so much money and they're now legally to bring those assets on the blockchain.

01:48 And you may ask, well Austin, then why is price down? I see Bitcoin dipping today. Well, that's just traders trading the market. Bitcoin long liquidations hit $280 million as Bitcoin price dips under $84,000. So, we got a bit of a correction in the market, which is healthy because as we switch over to the daily chart, it helps it helped bring us down from overbought territories.

02:19 Corrections are healthy. That's event number one. Number two is bigger. We see that Zcash continues to hit all-time highs. If you're bullish on privacy, you're bullish on Zcash. Zcash co-founder sees Zcash hitting $5,000 by the end of 2026. And number one, of course, a founder would say that. But the adoption continues to increase. 21 shares just launched a physically backed Zcash ETP in Europe.

02:46 giving investors direct Zcash exposure through a traditional exchange traded product. And while buying crypto, buying any crypto, even a Zcash, can always be risky, why buy it when you can mine it, turn energy into Zcash. This section of today's video is sponsored by our friends at Musk Miners, and every crypto investor should own a Zcash miner. Zcash mining is among the strongest opportunities in crypto today with some Zcash miners producing upwards of $70 per day.

03:18 And by the way, these were strong even before the recent price bump. Of course, how much money you make per day that fluctuates. Musk Miners already has over 200 Zcash miners running for clients already. They're based right here in the United States. And Musk Miners will provide the equipment hosting. They'll host it for you. power installation, monitoring, and technical support.

03:42 Link down below if you want to mine crypto. Check it out. And big news coming out of the Fed. The Federal Reserve proposes new regulatory framework for stable coin issues under the Genius Act. So basically, new rules for stable coins, which is something that the Federal Reserve was required to do when the Genius Act was sworn into law last year. And while I guess technically that was actually due months and months ago, they just released it now.

04:11 I believe they were sort of waiting for the Clarity Act to be signed, seeing if Congress would take care of it, but now they're just doing it themselves. So what are these new rules from the Federal Reserve for stable coins? And how does this affect you? Under the proposal, the Fed would require that payment stable coin issuers under its supervision fully back their tokens with certain reserve assets such as short-term treasury bills.

04:41 Yeah. So, basically, you got to back it with the US dollar. Back it with Yeah. So, basically, you got to back it with the US dollar. back every stable coin with T bills which the United States government loves because this becomes uh uh neverending buyers for their T bills. So the government loves this as well as the proposal would also impose capital requirements on stablecoin issuers to address certain credit and operational risks.

05:08 The Fed will accept comments on the proposed new rules for 60 days after they are published in the Federal Register. And again, you could say, Austin, what does this do for my bags today? Will this make price pump for the crypto markets, my coins today? And the answer is no. But again, the crypto market has grown for the last 16 plus years without these rules.

05:32 Crypto was a scourge on traditional finance, and now traditional finance is adopting crypto in every single form and fashion. That's good for Bitcoin. That's good for Solana. That's good for Ethereum. That's good for Zcash. A lot of the blue chips. And we've never seen this before. Yes, dips will happen. Bitcoin could continue to dips, right? We don't know what the market's going to do tomorrow, but this is very positive for crypto long term.

05:58 And speaking of ETH, actually bearish news, right? Altcoin Daily always share with you the bad and the good news. So, you have all the information as a crypto investor. At the time of recording, the information we have at the moment appears to be that Bitcat, the crypto exchange, reportedly got hacked for $170 million. Large amounts of Ethereum, Avalanche, and BNB, and stable coins are being transferred out while users report withdrawal issues.

06:26 Bit has said nothing on this. They have not yet confirmed a hack, but we're getting all these screenshots of why is there a mass exodus of money and coins from the Big Gut wallets. Again, this is all speculation right now. I don't want to jump to conclusions, but I always want to make sure you have all the information I have that we have. And imagine being bearish on Solana just in tokenized equity holders on Solana cross 1 million.

06:53 This is what the mainstream media for some reason is not sharing with you. I will. And again, we see the new rules, the clarity that the SEC and the CFTC are providing and then we see the money flowing into these assets. This is not a coincidence. This is not a coincidence. This will keep happening I believe as I mean this basically the starting gun was just the race literally this is not the finish line.

07:20 The race literally just started and we're starting to see the money flow into these blockchains with the tokenization mega trend. Anybody trading using AI bots, using your own bots, 17 days remain to join the trading competition. You can either join team human, which is just you trading on your own old school way, or if you have a bot, they let you plug it in and we'll see which team makes the most money.

07:46 Round three is live. That's $75,000 for this round. although more in total and the winners share 70% of that and the losers get 30% of that. So even if you're not sure, join a team and you'll still get 30%. But you do have to click join now link below. For anybody sticking to the end of this video, I have a little bit of alpha for you. My brother and I just recorded a big interview with Joe Biden's son, Hunter Biden, and we really grilled him on his memecoin launch, which is down 99%, as well as just had a prominent

08:18 voice in the Democratic party, gave his thoughts on Bitcoin and crypto, and get sort of a uh it was a great conversation. I'm not going to give it away. That drops this Saturday. See you tomorrow.