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Crypto Market Updates
Recorded: Aug. 6, 2025 Duration: 0:18:18Space Recording
Short Summary
In a pivotal discussion, the SEC's recent clarification on liquid staking tokens not being classified as securities has sparked bullish sentiment for Ethereum, while Satsuma's $218 million fundraising and Mara Holdings' record profits signal robust growth in the crypto sector. However, the rise in phishing scams poses significant risks, emphasizing the need for investor caution.
Full Transcription
Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. all right we are live, everybody.
Welcome, welcome.
Feel free to request.
I'm just going to read off some market updates,
but feel free to request and come up if you want to have a conversation.
More than happy to dive into each of these components,
or rather each of these headlines.
So the SEC clarifies. this is actually a big one the sec the sec clarifies that liquid staking tokens are not
securities so more bullish news for ether the u.s securities and exchange commission affirmed that
the liquid taking tokens all fall outside of securities regulations.
This is a rare win for DeFi.
I haven't seen anything like this in years, and something tells me that the Gensler administration
probably wouldn't have made it remotely this easy.
So big win, big W for institutional participants.
Also, Ethereum is strengthening, and every time it dumps, it seems like the pullbacks are gobbled up.
Same with Bitcoin, although we're looking at this on a short time frame. The regulatory updates in the U.S. that are enhancing clarity around Ethereum's utility, I think, is also a bullish catalyst, as well as the fueling stablecoin in ETH transaction growth.
I think the stablecoin one is big, right?
We talked about this, the Genius Act and different companies launching their own stablecoins
and those being on L2s and those L2s being on top of Ethereum.
I think the trickle down and the ripple effect is undoubtedly going to be, in my opinion, going to be a positive for the overall EVM ecosystem and Ether itself.
Policy Pivot, SEC Chair Paul Atkins, via the Project Crypto Initiative, aims to align U.S. markets with blockchain infrastructure on-chain.
They want to embrace ICOs, staking, and unified trading platforms under new rules.
So, again, the world's moving on-chain. A lot of that's going to be on Ethereum. I think it's very exciting.
I think that it's great to see the U.S. at the forefront of that. Dare me if I say this, but it does feel slightly different this time. I don't know if that means super cycle or not super cycle.
All I'm saying is that it definitely feels, and it is different this time.
This is actual institutional and white-collar adoption happening before our eyes.
our eyes. So just to balance things out a bit, there is options data that shows kind of a bearish
tilt for August. Traders seem to be increasingly favoring put options on Bitcoin and Ethereum,
and this signals expectations of a potential price drop through the rest of August.
This is, again, this is just from traders, right? Traders are wrong a lot. In fact,
many of the traders that I would see with big channels and strong opinions back in 2017 and 2018 are not around today.
So I have my feelings about chart readers and imaginary lines on the chart and, you know,
that determining which way we go. But that's just me. Either way, there are some folks that
are expecting price drops. I'm not making any moves based on that. I, you know,
I want to accumulate more. I want to hold for the long term. And so that's, that's my thesis. And
that's been my thesis over the last almost three years of hosting the show. Satsuma, Satsuma raises $218 million, including $125 billion in BTC.
This is a London-based technology company.
And they secured this funding in order to support their decentralized AI and Bitcoin strategy.
Bitcoin treasury, excuse me, Bitcoin treasury strategy. Bitcoin treasury, excuse me, Bitcoin treasury strategy. So, oh, yeah, another company
jumps on the Bitcoin treasury bandwagon. I mean, if number keeps going up, then I think it's going to work out. Something tells me that at some point it's not going to end well for a lot of these companies.
on this bull market in the next bear, it will likely point towards the aggressive purchasing of Bitcoin by different companies
and more importantly, the way that the money was raised in order to purchase that Bitcoin.
But hey, look, happy to be wrong on this.
Happy to be wrong on this. I think it would be with great pleasure for me to admit that this time it is different and I was wrong and we are in a super cycle and we're going to be up only for several years at least. That would be the dream.
Bitcoin holdings have cumulatively reached $414 billion.
So that's a lot.
That's a lot of money.
And it doesn't show any signs of slowing down.
And Mara Holdings.
Mara Holdings posts record profits on their Bitcoin gains.
Mara Holdings has reported their Q2 earnings, driven by over $1.2 billion in digital
asset gains, posting an $808.2 million net income. So that's great. And the DeFi community, I think,
was quite excited with the liquid staking consensus that I mentioned earlier, and I think former SEC staffer Amanda Fisher likened the risks in liquid staking to those seen in legacy collapses like Lehman Brothers, drawing a sharp criticism.
So there isn't – everyone isn't happy about it, right?
And I think that she could have a point. There are so many different staking protocols and there's so many different wrapped Ethers at this point, derivatives of Ether at this point.
And I think that she could have a point.
You know, if it's a battle tested, known derivative, then sure, maybe I'll hold it.
But for the most part, I can understand Ms. Fisher's concerns about liquid staking and kind of how many of those liquid staking products exist and will start to spin up, especially after this SEC verdict.
start to spin up, especially after this SEC verdict. And then safety, right? As more people
enter crypto, it's important to be safe. I think that the number of scams and the number of fishes
are going to increase exponentially. And so an Indonesian investor lost $3 million to a phishing scam, right? This is a
high-profile phishing scam resulted in a $3 million loss. And so this is something that people need to
be careful about when they're doing self-custody. That's all the updated news for the day, guys.
We will go back to the regular scheduled programming of having a
topic in socratic cell discussions next week it's been a bit of a crazy time on our end and
some moving parts and some changes being made in the company so thank you everyone for joining and
see you all in the next one soon
