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In this episode of Edge of NFT, host Richard Carthon is joined by two special guests: George from Crypto Potato, Editor in Chief of a leading crypto news platform, and Lenky from ApeBond, CMO and co-founder of the innovative bonding protocol. Together, they dive into some of the most pivotal developments shaping the crypto world, including:
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Key Topics Covered:
U.S. Presidential Election and Crypto Market Reactions
The election of a pro-Bitcoin U.S. president has sent waves of optimism through the crypto markets.
- George: Highlights Trump’s promises to fire SEC Chair Gary Gensler, appoint a crypto-friendly SEC Chair, and create a U.S. strategic Bitcoin stockpile.
- Lenky: Reflects on the bullish market sentiment and the opportunities it brings for new crypto investors, while cautioning about the need for realistic expectations.
British Pension Fund Allocates 3% to Bitcoin
A UK pension fund has made a bold move by directly investing 3% of its portfolio in Bitcoin, bypassing ETFs or derivatives.
- George: Notes the significance of self-custody for a traditionally conservative institution, emphasizing its philosophical and financial implications.
- Lenky: Believes this sets the stage for a domino effect, inspiring other institutions to follow suit.
Apple’s NFC Chip Update for Crypto Payments
Apple’s decision to open its NFC chip to third-party developers could revolutionize crypto payments.
- Lenky: Highlights the ease and utility this brings for using digital currencies in everyday life, like Circle’s plans to enable tap-to-pay for USDC transactions.
- George: Points out how this development aligns with broader adoption trends, referencing Trump’s past promises to eliminate Bitcoin transaction taxes.
Bonding Over Brews in Bangkok: Blockchain Mixer
ApeBond’s networking event in Bangkok on November 14th, 2024, offers attendees a chance to relax, connect, and collaborate with leaders across blockchain and AI.
- Lenky: Looks forward to engaging face-to-face with industry leaders and brainstorming ways to push the boundaries of innovation.
- George: Highlights the value of such events for networking and uncovering critical partnerships in a dynamic industry.
What was your favorite quote or lesson from this episode? Please let us know in the comments on YouTube. https://www.youtube.com/@edgeofnft/
Episode Highlights:
George from Crypto Potato: “Trump’s pro-Bitcoin promises are transformative, but the market will be watching to see if they materialize. His stance on regulatory changes could be a game-changer for the industry.”
Lenky from ApeBond: “Adoption isn’t just about technology—it’s about creating moments like these bull runs, where new users feel compelled to explore and invest in crypto.”
For the full transcript, see further below.
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Transcription
Welcome to another exciting episode of edge of NFT. I'm Richard Carthon. And today we have two very special guests. We have George from Crypto Potato and Lenky from Apebond. Great to have you both today.
For having me, man.
Pleasure being here.
Absolutely. George is the Editor in Chief at Crypto Potato, a leading crypto news platform that covers essential developments in the crypto space.
With over seven years of experience, George brings a wealth of knowledge and insight into a rapidly evolving world of digital currencies. And Lenky is the CMO and co founder of 8Bond. With over a decade experience in marketing, having invested in crypto since 2016. He's transitioned to working in blockchain in 2021.
He studied communication, specializing in advertising and marketing graduating in 2016. It's another production of the edge of company, a rapidly growing media ecosystem, empowering the pioneers of web three tech and culture. Today we'll cover the impact of us presidential election results on the crypto landscape, the innovative 3 percent Bitcoin allocation by.
British pension fund and Apple's new NFC chip access for crypto payments and the upcoming bonding over bruise event in Bangkok hosted by a bond. Let's dive in. The outcome of the U S presidential elections has sent shockwaves throughout the crypto world. And we are seeing this actively being reflected in current crypto pricing, George, as the editor in chief at crypto potato, you know, what's your take on this election result in how is it impacting the crypto market?
Yeah, so I think the general consensus within the industry is that Trump being elected is good and we can kind of see this in the markets. Um, but it's important to understand that he's made a bunch of promises for, for the industry and we have yet to see whether or not he will follow through. He's to be inaugurated, I think, on January 20th, so there is still time until then.
But obviously the market's reaction has been so far very, very positive. And in terms of his promises, he's, he's said a few very wild things and perhaps what a lot of people are currently very excited about is his promise to fire current sec chair Gary Gensler on day one after he steps into the office.
And this actually carries very, very important implications. Um, the sec under. Gensler has so far has so forth filed, I think over 100 lawsuits against crypto focused companies, including, you know, Coinbase, Kraken, Binance, and whatever you, you can think about it. They've probably sued them. And he's also promised to appoint a crypto friendly chairman of the SEC.
And this is very important because A shift in regulatory policies can open so many doors for the industry in the U. S. and abroad. Uh, and we can also see this in the market. So you saw legacy DeFi coins like Uniswap, Uniswap, we also have Radium even on Solana, we have Aave, we have Maker. All of these have been popping in the past.
48 hours. And the reason for this is that traders are obviously betting on the fact that these companies will see a lot less regulatory pressure if not, if not, if the pressure is not, uh, you know, diminished at all. Um, but he's also made other promises for the industry. So he promised to create a strategic Bitcoin, uh, stockpile for the U S.
Which endorses Bitcoin on an entirely different level. So it's one thing to have BlackRock and Fidelity and all these asset managers endorsing Bitcoin because they're investing in it. It's a completely different ballgame to have the president of arguably the most influential country in the entire world saying that this country is going to not only acquire, but also keep all of the Bitcoins that it gets.
Um, I think this changes the, the scene entirely, but again, we have to see if Trump will actually follow through because let's not forget that he had already one term and back then he was kind of opposed crypto and Bitcoin, but right now he seems to be, um, you know, pro crypto and pro Bitcoin and, and, and that's very, very good.
I think.
Yeah. Thank you. What's your take on this? All right.
Well, there's no denying that, uh, Trump was the, uh, five favorite candidate for everyone that works or invests, uh, in blockchain crypto web3. Um, he's been, um, vocally, uh, pro Bitcoin, um, for a long time. Um, I agree. It's true that, uh, it's not his first.
term, um, the one that is going to be coming up, but a lot of things might have changed. Um, and also I think a part of the victory that he got as well. There's a lot of, um, a lot of investors that are pro crypto as well. And there's a lot of hype. That has been built around, um, his victory and at the same time it, it got proven as, uh, after the election, uh, we saw this, this big bump for the crypto market as a whole, reaching a new all time high, I believe as we speak, we, we might be getting a new all time high as well, which is crazy.
And, um, to be honest, um, I also agree that this is all. Speculation and we need to see what happens in practice as well with the SEC decisions. Um, and yeah, I think that, uh, It's very optimistic news and it's reflected in the market. Um, but it's uncertain, um, if this will bring actual results, um, or what will happen, the, the real, uh, news is that, uh, the market is super bullish right now, and that is always.
And it's always good in terms, not for the short term, uh, price action to, uh, you know, uh, cash out, uh, on crypto, but mostly to, I love it when there's, uh, bull runs and people from, uh, every industry or any context put their eyes on crypto because, you know, Everyone, uh, including, uh, my mother can talk about, uh, Bitcoin or crypto when this, uh, periods come and what happens as well there is that a new people get to invest and get to experience crypto.
Um, our company is, uh, in DeFi, which is getting more deeper into blockchain itself, but there's always a starting point. So these, uh, opportunities are, are present. Uh, moments where new users can get in and, uh, of course some would just, uh, stay on the surface of it. Uh, but there are, there's a percentage of people that will get deeper into it.
So, all in all, I think, uh, this is great news, not for the short term, but always welcome that, uh, we have a positive market sentiment. We've been through a lot, we've been through hard times. Uh, so, uh, I, I. I can say that it's very, um, very positive to have these sentiments, but at the same time, let's not forget that we are in an industry where things can change from one moment to the other.
So yeah, let's, uh, be optimistic, but, uh, cautious and, uh, always researching. And, uh, let's see what actually happens in practice with the decisions and the Trump in the elections.
Yeah, um, I think both of you had, um, both very interesting takes with this. Uh, obviously the sentiment has changed very bullish, uh, in the, in the industry.
Uh, Trump is the most, uh, pro crypto president in us history at this point and. Even, uh, bringing up what you said about, uh, what he said he's going to do day one. He's made a lot of promises for day one. So it's going to be very interesting to see how many of his day one things that he can actually implement, especially, um, you know, to, in theory, you have to get it both through your house and the Senate and several other, uh, parts of Congress in the U S so we'll see what happens.
Trump has a lot of interest within the crypto space. Anyway, right between his own token between NFT projects he's launched and other things that are coming along So it's in his own interest to make sure that a lot of Sentiment in the US is more pro crypto now of the list of all the things on his initiatives that he needs to get done Is this at the top of the list?
I don't think so, but it's on the list and who knows how long it'll take to Start to do some of the things that he said But the fact that it's even on the docket is what I think has a lot of people excited but George, I think you had one more thing you wanted to say.
Yeah, you mentioned that he has promised to do a lot of things on day one and kind of slipped through my mind, but he's also promised to free Ross Ulbricht on day one, which a lot in the, a lot of people in our community are looking forward to because it kind of brings the debate about open source software and whether or not it's, Purposeful usage should be prosecuted.
Um, I think this is also something that we should keep an eye on and it carries implications for our industry because as a lot of people probably know, uh, most of the software that's being developed for, um, in within our industry is open source. Um, and you will recently had stories like tornado cash and stuff like this, which, um, a potential pardon, a full brief sentence can carry.
regulatory implications within this entire field. So I think that's also something that we should keep an eye on.
Definitely. Um, but another thing that we need to keep watching, I think is what's moving a lot of the market, which is Bitcoin. And so that kind of brings us into our next topic, uh, which has to do with, uh, the British pension firm that's making the first direct allocation into Bitcoin.
And so the British pension firm Cartwright has advised, uh, 3 percent allocation of Bitcoin to an unnamed pension fund. It marks a significant milestone as it represents the first direct investment in Bitcoin by a UK pension fund rather than through an exchange traded fund. So George, what are your thoughts on this bold move and what do you think the implications are for the broader crypto landscape?
Yeah, well, the fascinating thing to me here is. It's not that an institution is allocating funds within crypto, but this specific type of institution is doing it. And it's a pension fund. These are typically the traditionally the most conservative investors, right? They would put money in assets that have the lower, uh, Risk of depreciation and for them to consider and not only to consider, but to actually invest 3%, which is significant, uh, for a fund in Bitcoin, it's, it's just, you know, the biggest endorsement and asset can get.
But I also like to think of it from, from a more philosophical, um, perspective that this fund specifically decided to invest directly into Bitcoin. Right. So they didn't buy an ETF. Um, they didn't buy a derivative. They, they, they bought BTC straight up, which means that they have to self custody it. And if you think about it, self custody is perhaps the highest form of responsibility.
A pension fund could, uh, take up, um, you know, in the name of, of, of the elderly, because they're managing their funds. So. To me, this is really, really interesting.
Definitely. Leiky, what do you think?
Oh, I think this is a huge deal. Uh, not because of this, uh, individual, uh, money retirement pension firm and not because of the amount, uh, that they bought.
But I think it's a big deal because it is the first time, uh, that, uh, UK pension firm, uh, has done that. So, um, I think that, you know, Bitcoin can be. Unpredictable. Um, but this shows how, uh, you know, um, uh, uh, an, uh, particular company, a pension firm, can do this with money that is very sensible, right? Um, they, uh, take in, uh, a lot of measures to keep the money safe.
Um. They can also decide when to sell if needed, uh, with that self custody as uh, mentioned. Um, but, uh, I think that the most important thing here is that, uh, this move could inspire other companies, uh, to do the same, right. And that's what, uh, you know, It's the snowball effect and a little first offs that we get on this industry And it's always great to see them and hopefully more will come.
I think so as well I think both of you have really good takes on it A couple weeks ago, we covered how one of the first endowments for a college university in the u. s Also decided to diversify into bitcoin. You're starting to see more and more people of these larger institutions that are traditionally conservative start to expand the portfolio into Bitcoin, which means inherently Bitcoin is becoming more and more de risked.
And it also means that if the cost basis right now of Bitcoin, at the time of this recording, is around 75, 000 and These new investors are coming and saying like, yeah, that's a good cost basis. Like where can this thing go? Um, so I think this is all very exciting and I think, uh, there's a lot more to come.
And like you said, with this being the first, I don't think it would be the last. And I think you'll see more and more of this continues to happen. Um, but for our third article, I want to shift gears into our next topic, which is centered around Apple. So Apple recent. Lee announced that it is going to allow third party developers to access its NFC chip with the release of iOS 18.
1. This changes the experience to enhance crypto payments by enabling Web3 wallets and crypto payment apps to facilitate tap to pay functionality. So for any of you who have the iPhone right now, you know that you can like put your phones together and it'll share information, etc. Imagine being able to do that for tap to pay.
So, um, like I'm gonna give this one to you first, how do you see this development impacting crypto transactions and for your everyday purchases?
Well, uh, basically I think this change, uh, means that apps, uh, other than Apple pay, uh, can now use, uh, this feature, um, you know, Including those that handle cryptocurrencies like Bitcoin, uh, and others, uh, for example, uh, circle, uh, which is a company behind, uh, USTC, uh, plans to enable tap and go payments on iPhones, uh, using this technology.
Um, so yeah, I think this move, uh, will definitely make it easier for people to use, uh, digital currencies for everyday purchases. Um, Which in the end, uh, the adoption and the use, uh, cases are what can bring value to the technology. I mean, the technology is already valuable by itself. Um, but, uh, the adoption is what also, uh, gives it an extra value if you are able to use it in, in different cases.
So we all know the story about, uh, the Bitcoin pizza. And we've come to the point that, uh, people can now use, uh, digital currencies, uh, on the, on their day life. So, uh, it's huge, honestly.
Definitely. How about you, George?
Well, my take on this is that whatever gives developers more opportunities to, to create cool stuff, all the more power to it.
But it also brings me to, to, to Donald Trump again, because I remembered, uh, one video of him during his presidential election campaign, where he was in a restaurant and he was, uh, buying a burger with Bitcoin, right? Um, and, uh, after that, he also promised to eliminate taxes on Bitcoin transactions. So it kind of seems timely that this is happening.
Um, but the implications of Apple getting more involved within Web3 are obviously huge. This is after all, Apple is Is it, you know, one of the biggest companies in the world and they're the largest manufacturer of smart devices. They, they have probably the biggest ecosystem of, of devices out there and whatever, whatever helps Web3 get within this ecosystem and in front of the eyes of the users.
Yeah,
I agree. I think this is going to be very hopeful as adoption continues to pick up. You have these large companies like PayPal, Venmo, uh, Stripe, several others that are starting to allow for crypto payments and a lot of these. are on your phone. So now with Apple allowing for this, it's making that transfer of, of payments even more seamless.
And again, I think that continues to bolster the use case of cryptocurrency, uh, in your everyday use case. And, um, yeah, it just gets me excited for, you know, where things are headed going into 2025, but for a final article in. Thing that we're going to be talking about today. Um, I'm excited for, for a lot of reasons and a big chunk of why all three of us are here discussing today.
So we have a pretty cool event coming up in Bangkok, Thailand next week on November 14th, 2024 for everyone listening to this. If you're going to be out there, make sure you come through. Uh, we want people to come relax, refresh and connect with fellow attendees from DevCon and other industry leaders while taking breathtaking views of the Chao Phraya river.
It is a not to be missed intimate gathering of. Industry A list executives who are pioneering innovation across blockchain and AI industries, from infrastructure to gaming to decentralized finance. 8Bond is presenting sponsor for this amazing event titled Bonding over Brews and Bytes in Industry Leader Blockchain Mixer.
Lenky, we got you on. What are you looking forward to in this event?
Well, man, with this context of, uh, the market, I think the timing couldn't have been better for DevCon and everyone in the industry. I think, um, well, the main thing about our upcoming event should be, as you said, enjoying it as well. A celebrating these moments and also get the chance to connect.
I'm super excited getting this chance to connect with a brightest, some of the brightest minds in blockchain, AI and all the new innovations in this setting. Um, not often you get to have this meaningful, uh, chats, uh, and person to person, um, talks with, uh, industry leaders, um, because, you know, we, we always have in, in crypto, in blockchain, we also have always have this, uh, you know, Cold thing of, um, being connected via telegram, discord or whatnot.
So, uh, the magic of the face to face is, is always awesome. Uh, looking forward to exchanging ideas, uh, exploring collaborations and yeah, see how we can continue pushing the boundaries forward, uh, for the industry as well. Uh, it's a pleasure. really, uh, you know, to discuss a particularly for me marketing, uh, with, uh, my peers, and I'm sure it's going to be an unforgettable event.
Um, I think we cannot, uh, uh, skip these huge, huge shout outs, uh, to our, uh, amazing sponsors, um, which we really, really appreciate, Animoca, Heilborn. And reach, uh, feel, uh, and of course, edge off, uh, for, uh, organizing the event as well. Um, uh, the support makes the event, uh, possible. So yeah, I'm super thrilled to see, um, the incredible impact, uh, that we can continue doing together and kind of the way to be there.
Uh, it's my first time in Thailand as well. So it's always very, very fun as well. Uh, personally, when the. You know, our team gets together, uh, somewhere around the world. We have coworkers from all over the world. Uh, we gotta be, uh, between 10 and 15 from our team, I believe there. So, um, yeah, super, super excited.
I'm, I'm traveling tomorrow and honestly, I, I don't know how can I, I be waiting any longer, but, uh, I will, uh, yeah, be, be looking forward to it and, uh, I hope everyone can assist and we can connect there.
Absolutely. And before I pass it over to George, I also want to give a, an awesome shout out to all of our, you know, media partners as well.
George with Crypto Potato, it being one of them, Impost and BGA. But George, you know, what are you looking forward to?
Hey man, listen, bytes, Bruce, beautiful views, great people and a bull run. You can't really ask for much more than this. It's going to be a great event. You know, it's always fun to talk and network with like minded people, find new friends.
Conferences and events like this have taught me one thing through the years is that you can always count on meeting critical people and our industry is filled with them. So I'm definitely looking forward to it.
Awesome. Um, I am as well, uh, as Link you brought up, we've been planning this, uh, for quite some time now.
And I think we put together quite the lineup of amazing partners, sponsors, media partners, and just attendees that are going to be. It's a really good blend of people, uh, and industry leaders, of course. And it's going to be at an incredible venue with incredible views. And I think it's a great way to kind of.
Memorialize what I think has been a really solid year in web three and what an exciting time it's looking like it's going to be in 2025. So I'm looking forward to being on Thailand. It's going to be my first time. I think it's going to be a link. He's first time to, uh, and looking forward to having, uh, a really fun experience out there.
But that is a wrap. We've delved into the outcomes of the U. S. presidential elections and their implications for the crypto world, explored the groundbreaking 3 percent Bitcoin allocation by a British pension fund, discussed Apple's new NFC chip access for crypto payments, and the bonding over brews upcoming event in Bangkok presented by 8Bond.
Special thanks to our guests George and lenky. The landscape of cryptocurrency is evolving rapidly, and it's crucial for investors and institutions to stay informed all the time. about these developments. For everyone listening, what are your thoughts on these topics? How do you see the future of crypto shaping up in light of these changes?
Share your insight with us in social media. Stay curious and keep pushing the boundaries. Your voice shapes the future. Thank you for tuning to the Edge of NFT. I'm Richard Carthon alongside with George and Lenky signing off. Stay secure, stay curious and catch you on the flip side.
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