TRUMP'S CRYPTO DISCLOSURE COULD HURT CLARITY ACT? BLACKROCK & MAJOR INSTITUTIONS NEW STABLECOIN!

**Tony Edward** (0:05)
Hey everyone, welcome into the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. I'm your host Tony Edward. On your way in, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please be sure to follow and leave a five star rating. All right folks, we gotta kick it off with President Trump's and Vice President JD Vance's crypto holdings. So they had their financials and investments disclosures come out today and of course it includes crypto. Now President Trump has a significant amount of exposure to crypto, but this should come as no surprise. We know he has been involved for a long time, so has his kids, Eric and Don Jr. Here are some details as far as what Trump is holding. For Bitcoin, over $100 million of Bitcoin in its portfolio, over $55 million in Ethereum. For the World Liberty financial token, over $50 million.
As far as stable coins, it has here over $5 million.
And then collectively, a bunch of altcoins worth over $1.5 million, which includes LINK, AVE, ENA, MOVE and ONDO.
So I don't necessarily have an issue with this.
I do have an issue with the meme coins, right? That's the one thing that you guys know. I've been telling you all that no elected official should have such a thing. Now, JD Vance, his disclosure showed he has between 250,000 to 500,000 in Bitcoin. And again, they own stocks and other stuff. But this is a crypto podcast, so we're going to talk about that. So as mentioned, my issue is primarily with the meme coin because both the Trump and Melania meme coins are down like over 98% down, pretty much like they look like rug pulls, right? Like big fat L's on the charts. And that's not a good thing. And I've been saying for a long time, I wish President Trump didn't do that because he has done a lot for crypto, but it gets overshadowed by all the other stuff that he's doing, such as the meme coin, which his political opponents can use against him. And that's where I'm concerned, guys. The timing of this disclosure does not help the Clarity Act. Why? Many Democrats, like Elizabeth Warren and others, are already beating the drum about the ethics issue as it relates to crypto. Now, we've been talking about it ad nauseam. There's a larger ethics issue that needs to be addressed within Congress and for elected officials, right? Because guess what? They can trade stocks, oil, gold and much more. It's not just crypto. In fact, crypto is probably the smallest part of the whole asset distribution because many of them have been trading stocks for a long time, a la Nancy Pelosi. And look, Trump is doing the same thing, right?
So we need to have a bigger conversation and a bill that encompasses all asset classes.
But because the Clarity Act is on the table, we know it's going to be on the Senate floor next month, which starts tomorrow, July, right? July 1st. It's coming up for vote. Could the Democrats say, look, we have the details here. Trump conflict of interest. Here's all his disclosures. He has X amount of hundreds of millions of dollars in crypto. You know, they're going to use this as ammo. So I'm a bit concerned, guys, because the Clarity Act is facing headwinds that includes the ethics issues, but also the banks are fighting hard. We know they're going after DeFi and the stablecoin yield. Jamie Dimon, visibly frustrated and angry in his interviews, saying the bill is no good as is. So we got to fight on our hands. And unfortunately, this does not help us because Trump's political opponents. And again, I think they're just playing the game of politics because there's a lot larger ethics issue. But he's giving them the ammo here, which really sucks. But hopefully, hopefully they can find some sort of compromise to not let the ethics issue be a major headwind. So something to think about, guys, and just be prepared that they have the details now of how much crypto this President Trump is holding and much more. So we shall see how it all plays out. Nevertheless, guys, we've been tracking the market. And obviously, I've been saying we're near the bottom. I don't know if the bottom is 100% in as yet. We're going to have to let the market show confirmation. But we're seeing things like the bullish divergence on the weekly chart for Bitcoin, the bearish divergence on the stablecoin USDT weekly chart, right? So you're seeing the inverse correlation there, plus the supply of Bitcoin underwater in unrealized losses at an all-time high. So a lot of big players are starting to accumulate. And here, Grant Cardone via Cardone Capital, they bought another 282 Bitcoin worth $16.5 million. They now hold over 2,700 Bitcoin. Now Grant is actually doing something unique. You may have seen my interview with him from earlier in the month, where he's pairing a portfolio which includes Bitcoin and real estate, which is very unique and that's how he's pitching it, that you have exposure to these two asset classes. So he's doing something very unique. So you have big players like him accumulating. And here we got news that the UAE-based Goldman Lampe Private Bank purchased 120 million euro of Bitcoin. They said Bitcoin continues to demonstrate remarkable resilience as a store of value and strategic asset. So you got banks buying, you got big wealthy investors, funds and much more. And the on-chain data is showing confirmation of big money's buying. So whale holdings for Bitcoin just put in the largest spike in history. So the data shows whales have accumulated around 270,000 Bitcoin in the $59,000 area. So they are buying the blood on the streets, right? So this may be the bottom or maybe not, right? Obviously Bitcoin's price went below that. It went to $58,000. Now, there is the possibility it could wick down to $54,000 or $52,000, right? We can't rule that out. But there is also the probability that the bottom is in. And that's why I've been saying no one can call the exact bottom. But when you identify the bottom zone, which I think we're in, it's a great place to start accumulating. And I've been telling you guys, I've been buying all coins. So I think the bottom is near. And we're going to continue to monitor the charts and the on-chain data. And we have to be patient, obviously expect volatility. It's part of the course. And there is the possibility, like I've been saying, that Bitcoin starts to rally because it's oversold, there's extreme fear. And you have the narrative of the Clarity Act, where you can have a buy the rumor, sell the news event that makes this relief rally very strong in July, may be bleeding into August. Then you have a correction, you form a higher low or the possibility of going lower, right? We can't rule that out. You have to look at all scenarios. Smart investors, you got to look at all scenarios. Obviously, as we get closer, we'll look at the metrics and say, well, you know, which scenario has the higher probability of playing out. But there is the possibility of going lower than 58K. And if we don't go right now, and then we start, you know, the recovery, the true recovery. So we're going to have to be patient and see how it all plays out. But like I said, I'm buying the dip. And guys, a great place you can buy the dip for crypto, as well as precious metals, is on iTrust Capital. They allow you to invest in crypto and gold and silver via an IRA. And you may say, why would I want to do that? Well, when you sell your crypto or your gold, you incur capital gains taxes. When you do that in an IRA, there's no long-term or short-term capital gains taxes. So if you have a long-term view on these assets, this is a great option. You can buy and sell 24-7. It's low cost, no monthly fee. And if you have an existing 401k or IRA, you can simply roll it over to iTrust Capital's version. Now, their gold and silver investment offerings is not paper gold and silver. It's the physical asset. So if you ever want to redeem it, you can do that. It's custodyed at a bank. So this is a great option. A lot of platforms do not offer this. And they also have a premium custody account that you can store your assets and not have to worry. You can buy and sell your crypto 24-7. It's a closed loop system. So if someone hacks into your account, they can't withdraw funds. And they use Coinbase Prime and other big institutions for custody. We know BlackRock uses Coinbase Prime. So you're getting that tier one level custodial service and it's low fees. And folks, if you sign up with my link, you can get $100 funding bonus. And I also put in the description my contact at iTrustCapital. So if you have any questions as you're signing up, that person can help you. His name is Ryan and can give you a bit of a white glove service, right? Hold your hand through the process and answer your questions so you don't feel alone. And if you are curious about something, you can just send an email and contact that person. They can help you. So the contact information will be in the description. And folks, to learn more, go to itrustcapital.com/go/thinkingcrypto.