Massive news today. If you're invested in crypto, $4 trillion asset manager JP Morgan Chase has settled its first transaction on a public blockchain using chain link ando to move tokenized treasuries. And let me put this in perspective for you because altcoin daily put chain link on your radar over 6 years ago.
We were telling you about chain link when it was just a few dollars. All right, welcome back everybody. My name's Austin.
Today we're talking about Chain Link, Polka Dot, JP Morgan, and Ethereum. Hit subscribe if you like staying informed. We were telling you about Ando mid last year.
Now's only been in existence for about a year. But point is, if you subscribe to Altcoin Daily, you've done very well in crypto just by watching one video per day. And now the news today is this.
JP Morgan Chase steps beyond their walled garden to settle transactions on a public blockchain. And even though Jaime Diamond has been FUD cryptocurrency for almost a decade, telling you that cryptocurrency has no real use case. I've always been deeply opposed to crypto, Bitcoin, etc.
You pointed out the only true use case for it is criminals, drug traffickers, anti-moneyarna, tax avoidance, and that is a use case. If I was the governments, I'd close it down. All while Jamie Diamond was telling you that cryptocurrency has no value.
Altcoin Daily was sharing with you the truth that JP Morgan had been building using Ethereum the whole time. Pretty significant news involving Ethereum, at least for Ethereum infrastructure and software firm Consensus, who is right now in the process of finalizing a $50 million raise via convertible debt. And JP Morgan is leading the investment.
That means JP Morgan is investing into an Ethereum incubator. That should make you feel good if you hold Ethereum. JP Morgan is getting their giving their nod of approval.
The Ethereum price at the time was around $400 per coin when we reported to you. Again, all that was a permissioned private blockchain. Now, for the first time ever, they've used Ando and Chain Link to interact with the public ones.
I also have new altcoin news to share with you. So, watch today's entire video. But just so you understand, JP Morgan is the United States's largest bank.
So, this sends a massive signal. And on Wednesday, they announced that they had settled a transaction on a public ledger with the help of crypto firms chain link ando finance. Now, how and why was used?
Ando was the tokenized treasuries part of the transaction. Remember, Ando's founder, Nathan Alman, comes from traditional finance. He has the connections.
He knows the system and why they need crypto. Um, my own background is in traditional finance. I worked in private credit.
Uh, and then I was at Goldman Sachs on the digital assets team helping to shape their early crypto blockchain strategy from 2019 to 2021. Um, before founding. Um, Mondo is in the business of bringing financial markets on chain to make products and services more accessible.
Um, we tokenize real world assets. Um, starting with US treasuries. So, if you like and you like this and how and why JP Morgan is using chain link well chain link provides the interoperability to be able to communicate across public blockchains, private blockchains, the traditional system, the new system.
This is uh basically the the role that that chain link is is playing. It's creating those pipes. Chain link allows the interoperability.
Are they paying in a central bank digital currency? Are they paying in a swift payment? Are they paying in a stable coin?
In all three of those cases, you need to instruct the payment. You need to move that payment probably across chains. You need to provide all kind of identity information, price information, all kinds of information.
So the base transaction in a blockchain just between you and me in the same blockchain is literally one to three steps. It's pretty simple. The base transaction in this advanced next generation world that we were talking about earlier is like 10 to 20 steps depending on the asset, depending on the payment method.
All of those steps can't happen without something like Chain. This is an ongoing story like always. I will keep you updated and I do have new altcoin news to share with you including XRP, but major announcement from exchange partner Bitget.
Bit onchain challenge phase 1 is coming. It's actually here. It starts today.
And there's no reason that somebody from the altcoin daily army, actually many people from the altcoin daily army can't hunt hidden gems and win up to earn up to 50,000 BGB tokens. That's bit token. Again, this just started today.
You have to click join now. I will put a link down below and you have up to 6 days to take advantage. Essentially, how it works is if you trade, you can earn shares in an airdrop.
And all you have to do is trade at least $20 per day to earn one point. You hit target points and win your share of over or up to 45,000 BGB tokens. And then if you're a top trader, the top 100 traders by volume split the extra 5,000 BGB tokens.
Best of all, this is all decentralized. Although BitGet is a centralized exchange, they allow you to trade decentralized onchain. Link down below, but you must register sooner rather than later.
Take advantage of the airdrops when they happen. There's a big vote for the stable coin bill coming up hopefully tomorrow. So, Coinbase CEO Brian Armstrong is at Washington DC today as crypto legislation happens.
Hey y'all, I'm here in DC today trying to help get legislation passed for crypto. There's a big vote for the stablecoin bill coming up hopefully tomorrow. That's going to be a big important one.
And then we're going to move on to market structure legislation, which is even more important. We've been meeting with members of the Senate on both sides of the House. And there's a lot of good excitement about getting this done.
Like any good negotiation, there's a lot of details to work out at the last minute, but we've been stressing the urgency of this. There's 52 million Americans who want to see this legislation get passed. Um, and we need to make sure the industry stays on shore here in America.
And we know Coinbase is the first 100% crypto company in history to officially be added to the S&P 500. That means crypto is now a part of everybody's retirement fund in the United States. Crazy.
Big news for you guys on the S&P 500. Is that going to change your outlook at all or the impact that that Coinbase has? Well, we're very happy to be included in the S&P 500.
Uh it now means that crypto is here to stay. It's going to be a part of everybody's 401k. Um, it's a testament to the hard work of our employees and our investors and it's a big appreciation to our customers, too, that helped us get to be one of the most trusted companies in America.
And so, we couldn't be happier. By the way, great networking opportunity. If you want a job in crypto, a job in Bitcoin, the largest crypto conference in the United States is happening in just a few weeks.
My brother and I will be there. Use code altcoin daily for 10% off your tickets. Link down below.
And also while that is happening in the United States, Binance and the country of Bhutan partner up to launch crypto payment system to increase tourism. I mean this initiative represent another key milestone in terms of crypto adoption and deployment globally. Uh what it does is you know travelers and tourists going forward can make use of a very seamless very uh costefficient way of paying locally everything from things like flights, accommodations, meals, uh even your local tour guys uh and uh when you're buying from local merchants in Bhutan when Bitcoin's eventually soaring past $140,000 when Ethereum is over $5,000 and quality crypto projects are popping off.
You were paying attention to crypto early. Quick piece of news on EOS OGs in the space that have been around for multiple cycles. You'll you'll find this interesting.
EOS rebrands to Vulta, now with the ticker A. EOS used to be the top altcoin in the 2017 bull run. They raised over $4 billion I believe back then and put most of that in Bitcoin meaning they have a huge huge treasury and they were in L1.
They were known as one of the original Ethereum killers and then Solana stayed relevant. Cardano stayed relevant. Even Tron stayed relevant and EOS kind of faded away.
So what is Vulta? Vulta is a web3 banking network empowering the next frontier of finance made in America. I believe it's still a layer 1 and all tokens were swapped one for one from EOS to a no tokconomic exchanges, no fees.
And quick piece of news for XRP. You're seriously underestimating how big XRP is going to be. And what they're basing this off of is Bitwise is educating their clientele on why XRP has value and why their XRP exchange traded product, why you should buy it, why it has value.
And this is interesting. Send this to a friend that eats at Steak and Shake, which is a burger joint getting ready to celebrate Bitcoin launch on Friday at all locations. And you can see their smash burgers will now be smashed, at least for a little while.
smashed with the Bitcoin logo as all Steak and Shake locations are now accepting Bitcoin. By the way, I will not be spending my Bitcoin on any burger. They're not going to trick me out of my Bitcoin that easily.
I'd do a stable coin payment if they accepted that, but I'm trying to keep my Bitcoin and Ethereum. Still cool to have the option, though. Click subscribe for daily videos, keeping you informed.
And like all we see tomorrow.
