Trump's crypto pitch and whether it can swing US voters

Transcript

there are 160 days until the next US presidential election this past weekend Trump held a speech at a Libertarian convention he stated to the nation's 50 million crypto holders I say this with your vote I will keep Elizabeth Warren and her goons away from your Bitcoin he followed up with a post on Truth social saying I am very positive and open-minded to cryptocurrency compan compies and all things related to this new and burgeoning Industry our country must be the leader in the field crypto is quickly becoming a political issue and in today's episode

we're going to discuss how big of an impact this next president could have if they are pro crypto are people likely to vote in the next election based on their crypto beliefs alone what if Trump doesn't win has the US become Pro crypto regardless and finally we'll talk about Trump Poss pardoning the founder of Silk Road which was the first use case for Bitcoin and the inspiration behind the milk Road name gmgm welcome to milk Road radio the easiest path to get smarter about crypto I'm Jay Hamilton joined by Kyle rehead and we believe that onchain is the next online and we're here to help you capitalize Kyle welcome back to the show again kyos let's start off what

do you think about what Trump said this past weekend well look let me just set the record straight I'm not American and so what I say does not matter for voting and so don't get mad at me what I think my comments on what Trump said is I mean it's super bullish it's actually very exciting not necessarily that Trump is so pumped about crypto yes I'm not a huge fan of trump either in the sense of who he is as a person but the things he's saying about crypto cannot be understated like this is actually a massive moment for this industry the fact that someone of the stature of trump and again take your like your emotions aside for a second here he's very likely to be the next president he's already been a president and he is sitting here talking about crypto saying

he wants to keep this safe he wants to keep cre crypto in the US I think it's a really big deal if he becomes an ex president and we have a pro crypto president I don't think people realize how massive this is for crypto so I don't know I'm pretty excited I'm excited that he's talking about it I'm just excited in general that this is a discussion in Politics the fact that he stated hey there's 50 million of you in the us alone and I want to win your guys votes because crypto's becoming that big it's becoming that important in the US that pumps me up that we have been able to be such a small industry years ago have been able to become such an important topic in just I mean not even just in US politics but in global

politics and Global discussions that to me is super exciting so yeah it's great that we are sitting here talking today that a president has you know is favoring crypto and to be honest it's probably the thing that's been pushing Biden to be a little bit more favorable it's why the SEC I think has approved the EFS we talked about last week so like there are Ripple effects to what Trump is doing and ultimately regardless of what you think of him it is super exciting for this industry yeah I think a a massive moment uh to have a potential a past president and a potential president just put us on the scale that he is putting crypto on before leading into this election and for anyone who's wondering is Trump

actually going to be the next president I've got poly Market open up right now let's just take a look Trump currently favored at 56% to win the election Biden 37% so I'd say it's looking currently a lot can change between now and the election but looking very likely that Trump will be the next president if we didn't have Trump talking about crypto then the biggest thing in our industry right now outside the ETFs would be Caitlyn Jenner launching a mean coin and rugging and that's not what we want so thankful that Trump is the headline this week it's amazing that you just put Trump and Caitlyn Jenner in the same sentence we're going to talk about what happened with Caitlyn Jenner at the end of this episode so if you don't have any idea what Kyle's talking about we'll

fill you in but Kai you mentioned 50 million crypto holders in the US Trump clearly recognizes that these people have a vote and caribo crypto a lot of people though are sort of slamming this idea of single is issue voting and saying hey that may be not such a good thing if people vote just based upon their beliefs in crypto for before we talk about that whether it's a good thing or a bad thing can you just explain single issue voting to our listeners yeah it's basically voting for the president or I mean could be prime minister depending on where you are but voting for one specific reason we had in the past where you know women were voting for their rights which makes sense they want to vote because they

want pro-choice and they vote specifically for that one reason I think that was happening when Trump was trying to get elected last time I can't remember who it was but so it's kind of hilarious but the same thing's Happening Here with crypto there was a article that went out in oped with block works I think last week or two weeks ago and and basically it came out saying like people are I forget what the word they use but it was a bad word and saying that they weren't it was not a good idea to vote as a single issue voter and that's not the way you should be doing it and so that's why this kind of like over the last week has been sort of a conversation of discussion on crypto Twitter whether this is a good thing or a bad thing but basically that's what it

is and in if you were an American and we were voting in this would you vote based upon crypto alone having being somebody who has large net worth in crypto who has a business in crypto I mean so first I don't think there's an issue with single issue voting I think that that is fine if people want to do that who's to tell them how they want to vote vote for whatever reason you want to vote for right some people might have multiple reasons and so you vote for that some people might have one reason you you vote for that it's fine people can votee however they want I don't know why this became such a big deal on crypto Twitter I get other people have other reasons that are very important and that's fine you can push that you can promote that that's the whole point in this in a

democratic vote is hey everyone has an opinion everyone has a vote and you just see which one is the best and or which one's the most popular and so like if you want to be a single issue voter go for it in my context to me it's not even really single issue like crypto is one thing sure but it matters a lot to me because as you said I have a business in crypto which myself my family people around me like they this matters to them right I have my net worth in crypto a lot of it I have a team of 20 people who their lives and their livelihoods revolve around getting paid from this company which makes money in the crypto space I also have like I've seen how much crypto can improve other people's lives especially because I've just been traveling in Argentina and all these

other countries that have inflating currency so like there are many reasons why I believe that we need to push crypto forward and if there a president or a leader in the world that is going to support that that is a really big deal for me for many reasons and so yes it is a single issue but it proliferates much more than just one thing it's not just because I love crypto it's because it matters to me my family to people who work for me and to many people around the world and so would I vote for Trump I don't know I'm not American so I don't have to I don't have to say that which is which is great look I don't like who Trump is as a person I don't like how he presents himself and the things that he says But ultimately I think that you need to look

past that and look at how does he produce how does he perform what does he do and I mean if you look at some of the numbers when he was president there is some numbers to back up that hey he did a really good job in his presidency and so I don't know I care about what results is he gonna is he gonna bring and especially because I care a lot about crypto like that that leans a lot for me for sure yeah well this isn't a political podcast so I'm not going to put you on the spot and ask you who you would vote for Kai don't worry about that uh but I do know that 20% of Voters in swing states have said that crypto is a main issue for them in the upcoming election and we also know that the US election is decided by a very small

margin and so any opportunity either leader has either party has to get more votes they will take it and so you can see that Trump is going after that now let's just take a step back for a second one thing I want to know is I want to know if our listeners you know if you were voting in the US election or your own election would crypto be the most important issue to you and impacting your vote let us know answer the poll on Spotify or if you're listening on YouTube let us know yes no undecided or if you have another strong opinion let us know we'd love to hear from you guys Kai let's say Trump does come into power or you know what quite honestly either side comes into Power doesn't really

matter who it is but who whoever it is if they are pro crypto that's the main thing and the main question here is what would the impact be if the US had a pro crypto president crypto will go up more than 100x in both users and value over the next decade if you're listening this right now you're extremely early and have an incredible opportunity to capitalize at milk Road our mission is to make you smarter about crypto that's why we're doing today's podcast and why we send you a daily newsletter for free but if you're ready to level up as an investor let me tell you about milk Ro Pro we crafted this resource for investors who are already smart enough about crypto and are looking for more actionable insights on how to invest successfully in one of the fastest growing Industries on Earth every week

we break down the latest trends dive into tokenomics of popular and upand cominging tokens and get into the nitty-gritty of market analysis all to help you invest smarter plus we have a private Discord Community for pro members it's like your backstage pass to the milk road crew exclusive insights Hot Tips and live amas with our team now after look going to level up as an investor then click the link in the show notes below and sign up to Pro today don't let this bull market opportunity slip through your fingers oh I think it would be just massive I don't think people are quite ready for what it would mean to be honest there are countries that are pro crypto already I mean El Salvador has taken it full on China recently has come out you know and allowing a lot of different crypto things which originally they were not so

they have become more Pro crypto Hong Kong Singapore the UK and look that is great competition now can that was in the US can now go and start businesses there and so like that has been good that we have somewhere that is proc crypto Dubai would be another one but obviously the biggest and most important in terms of capital in terms of just like where most Innovation is in the world at least in the tech world it's the US and if the US decides to go pro crypto and create good regulation and starts to support businesses in this and start to do what they did with Silicon Valley but for crypto this would just be so massive for this space because not only will they be the best incubator in Hub to develop crypto in the way that it should be I also think other countries

will start to look at what the US is doing and they will mimic it this happens in many Industries whenever there's regulation a lot of countries just follow what the US does right part of this is because the US has so much control over many countries because well they have a big military that is pointing guns at all their countries so they have no choice but to follow suit so that is part of it and others like it's obviously a dominant country it's been dominant for a long time and so other countries want to mimic what they're doing they want to follow suit and so I think if this happens the innovation in crypto is finally going to just go I mean it's already going pretty nuts but I think it really really accelerates here just think right now like how many airdrops Americans cannot

get how many uh companies that are in the US cannot launch a token right this has been Unis one of the problems with Unis swap for a long time I mean base can't launch a token like there are many big companies and I'm sure there's like actual public companies that want to launch tokens want to build on chain and they have not been able to there's so many companies and Banks and institutions that want to start to use defi but they can't and once we have regulation and that Capital can flow on chain whether that's launching new tokens whether it's innovating whether it's just using the services there's a lineup of massive companies in a lot of capital that wants to flow in the space and currently can't so I think it's going to be a big big deal in the US and globally if we do get a pro crypto

president hopefully in that four years that they have they can actually get regulation through and and push this thing forward I don't know sometimes it takes just way too long in the US or really in any politics but if they can that would be massive you mentioned some businesses that uh can't launch tokens can't take advantage of the crypto Innovation right now I'm curious if the next president is pro crypto and we go in this direction this regulation happens what businesses or companies are you most bullish on as a result of that yeah good question I mean one it would be interesting just see a lot of the like decentralized protocols that are in the US most of them have moved out at this point unfortunately so like a lot of VC Capital they don't even want to invest

in companies that are in the US so like I think it brings a bunch of whole new companies that we've never even thought of so that could be really cool I think probably the biggest one that I'm most bullish on I've been saying this since we've had this kind of favorable regulation over the last like week or so this like sort of 180 turn in the SEC and in politics is coinbase right they're the biggest crypto company one of the biggest crypto companies in the world they are in the US they are publicly traded in the US they are I'm a dominant player for us residents and so I just think this is so bullish coin right now it's insane and I've been saying this for the last week I mean I've been calling coin since it was at like $36 I think is where I originally

bought in and we've been calling it in our newsletter for when it was at like 50 $60 as well I think it's sitting at like 240 maybe and I'm still super super bullish it is a tiny market cap compared to most of the banks in the US compared to a lot of tech companies coinbase is going to become one of the biggest banks in the US in my opinion and then it's also a tech company on the side of that and so I think that just really really excites me the thing that's held them back is regulation they're not sure how far can they go on chain they've been pushing the limits over the last few months especially launching Bas they're now moving a lot of their like capital and some of the user funds on chain but I know that there's way more they want

to do and they just don't really know what they can do plus they have so many resources going to fight the U or the SEC in in court right now and it's like if we can just get rid of all that and let them just focus on innovating and building man that company is just they're shipping at a hell of a rate right now and if they just if we could remove the restrictions I just think they're going to become one of the most important companies in the world in the next few years so have you been buying more ether more coin recently we were just having this conversation in one of our Pro research meetings actually and um so recently I actually bought more coin but here's the thing I've been buying eth every month and then I recently just did a big buy of coin so that's the only

reason I would say that so it depends on what we mean by recent but I actually think coin I was thinking about this the other day of like if someone was to ask me what should they buy right now like usually I would just be like just buy eth or buy soul and both of those I think are going to do really well the only thing is if you think about the most Diversified bet in crypto right now it's buying coin because whether the ethereum ecosystem crushes it or it's Salon ecosystem or something we're not even thinking of or it's just Bitcoin either way coinbase is going to succeed from it it does not matter which ecosystem or all of them whatever coin will succeed so I'm starting to think that the best Diversified bet maybe risk reward bet in crypto is coin it's not

even a crypto asset which is hilarious hot hot take definitely love hearing that thanks for sharing okay I would say probably the person who's most excited about Trump possibly being president or a pro crypto president but specifically Trump is Ross Albright for those you don't remember Ross Albright is the founder of Silk Road who got sentenced to Lifetime in prison without parole in May 2015 Silk Road was the uh online Black Market that operated in like the dark web and it became best known for selling illegal drugs it launched I think in like February 2011 so this is

like early crypto days Ross was under the pseudonym dread pirate Roberts which is just a hilarious pseudonym and built up so grod into qu a large Enterprise look the what silkroad was doing definitely not good selling illegal drugs not what we need to be supporting but was Ross deserving of a lifetime sentence for building a platform that was open source and really allowed anybody to use it for what they wanted and he didn't necessarily try to make it for illegal drugs like that's just what it became used for as a marketplace where it had the ability to buy and sell

products using Bitcoin so and what Trump said most recently is that if he became president he would pardon Ross alright and release him from prison and his lifetime sentence Kai any thoughts on this statement and does this matter I think this is a good moment for crypto I mean so silkroad just the tied all together they used Bitcoin you couldn't use the dollar at that point and they could block crypto or credit cards they couldn't block Bitcoin so that's why it was kind of bitcoin's first use case whether that's a good thing or bad thing I don't know but either way Bitcoin has made it through all this which is amazing and so like do I think he should be gone for Life absolutely not you know like you said he built an open source

protocol so kind of it is what it is and I I think it's a good story for crypto it's good for us to kind of band around and say hey you know what Ross did was not the worst thing in the world he shouldn't be there for life and if we can get him free it's just another win for crypto is all I think we've had so many losses not even losses we've just had so much friction and so much hate and so much fighting in this space against the US and really most other countries to finally get a bunch of wins on our belt in terms of the ETFs in terms of Regulation to free some of these people that don't deserve it the other one would be I can't remember his name now but the one that created tornado cash he looks like he's going to

jail forever many years we report on it last week and he'd be another one that I wish we could free but I think that's in the Netherlands so Trump can't do anything about that but yeah of course I think it's a great thing for some of these older cases to get cleared up so it sort of feels like Trump has been maybe Pro crypto for a while with his nft collection but really it feels like he's been Pro crypto for like three weeks here like this you know what's the the noticeable impact that you've seen in just these past few weeks yeah I mean so Trump I remember in like 2018 2019 he was public publicly basically saying that you know crypto's useless and whatever but everyone was kind of saying it back then so I can't really judge

someone for their opinions on crypto in 2019 crypto in 2019 was useless we didn't even have defi we had nothing back then it was a bunch of icos that ended up being scammed so like sure most people's opinions were it was pretty crap back then but a lot of people have come a long way since then including Trump and I don't think it's Trump really for the last three weeks I think like you said he has been launching nfts he's been playing around the space so like I think he's been learning he's also an entrepreneur so I think he like he gets it he's just been more public about it now and I'm sure that's because he realized he could win a bunch of votes if he did it so like he's definitely doing this because it's opportunistic for him but either way I think it's good because it's making

Biden and his administration change their tune on crypto too they're realizing oh these crypto people there's a lot of them they have a lot of money which is really important and they have a big voice they're loud they are internet native people almost everyone who's in crypto is like they're allowed on the internet that's what we do we hang out on X we hang out on YouTube right older vote they don't necessarily do that they talk to their circles but their circles are like four or five people right we at the age 30 and 40 that love crypto that are internet natives our circles are I don't know I have 10,000 followers on Twitter so there's my circle right and so the crypto industry these are important votes these are important people that have money that are building businesses that are on the Forefront of the tech

industry and you want those people backing you and I think Trump knows that he's smart and I think Biden is realizing oh I kind of miss this one and I need to do a 180 I need to come back around now let's say Biden does do a 180 and everyone starts to believe it does he stick with this if he actually won I don't know that one's a bit risky to me so anything can happen but either way they're both talking about it and I think that's super bullish well as you said Trump a political genius Kyle you're a crypto genius we appreciate your time and joining us on today's show and sharing your thoughts on this exciting news thanks so much Kai before we wrap up here a couple other quick hits of what happened this over the weekend in the

crypto world first up GMX is expanding to salana now GMX for those who don't know is one of the largest D5 protocols in the world trading volume over 200 trillion over 500,000 users and the GMX governance Forum has outlined a plan to bring a version of their GMX decentralized exchange to the salana blockchain this project would be called GM soul we're going to be keeping a close eye on that we'll keep you guys updated as well also the EU commission has urged uh the EU and its countries to prepare for a blockchain and AI integration on May 29 sorry on May 24th they wrote a report basically concluding that there is a strong convergence

between blockchain and Ai and that the sensitive data that we are all putting into these AI models right now that blockchain could be the answer to secure that data in a safe way and finally as Kyle mentioned earlier in the show today Caitlyn Jenner was Shilling the Jenner token over the weekend this is a newly launched token on pumped off fun the token went from zero to 25 million market cap in nine and a half hours and look I'm not going to get into the details of this token but here's what I'll remind you of in 2022 Kim Kardashian was fined $1.2 million for Shilling ethereum Max so yeah you do the math same family Kardashians and Jenner

I'd say no doubt that this also ends in a lawsuit so be careful with your Investments don't invol don't be investing in shitcoins and have yourselves a great day thanks for listening everybody we'll see you tomorrow thank you for listening to milk Road radio the easiest path to get smarter about crypto if you like this episode share it and hit subscribe or follow so you don't miss out on the next one there's also a link in the description to our free 5minute daily newsletter where we simplify crypto for you while making you laugh and if you're willing to step up your crypto investing game then we'll leave a link to milk Road Pro as well your number one resource to help you invest successfully in crypto one final note this podcast is

for educational purposes only and nothing we say is financial advice crypto is risky so you should never invest more than you're willing to lose thank you friends and we'll see you in the next one a