Bits + Bips: Why XRP Might Have Been The ‘Most Hated’ Rally Ever - Ep. 744

Unchained

Laura Shin

Tech News, Business News, News

4.6 • 1.3K Ratings

🗓️ 4 December 2024

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of Bits + Bips, hosts James Seyffart, Noelle Acheson, and Ram Ahluwalia are joined by Alex Thorn, head of research at Galaxy Digital, to discuss the surprising mainstream buzz around XRP’s latest rally, dubbed the “most hated rally in crypto.” They also analyze the new Treasury Secretary’s ambitious economic plan and what it could mean for inflation, fiscal discipline, and market stability. Meanwhile, Ethereum struggles to reclaim its narrative as the go-to blockchain, even as its ETH/BTC ratio shows signs of life. And in a moment that captures the personal side of crypto’s rise, the team reflects on Thanksgiving table conversations, where bitcoin and digital assets became unexpected stars. Show highlights: Why the newly appointed Treasury Secretary might be the right person for the job Whether the December rates cut is unnecessary How Marc Andreessen brought Operation Chokepoint 2.0 to the spotlight How Facebook’s project Libra would have benefited the US Dollar hegemony Whether the U.S. Congress will pass stablecoin legislation in 2025 Why Ram believes Ryan Selkis would be a good Crypto Czar How people have been asking more about bitcoin during Thanksgiving Whether the XRP rally is a negative indicator What James thinks about the filings for news ETFs, such as WisdomTree’s XRP Why Alex thinks that ETH could continue its recent rally The impact of MicroStrategy being added to the Nasdaq-100, aka the QQQ ETF Hosts: James Seyffart, Research Analyst at Bloomberg Intelligence Ram Ahluwalia, CFA, CEO and Founder of Lumida Noelle Acheson, Author of the “Crypto Is Macro Now” Newsletter Guest: Alex Thorn, Head of Firmwide Research at Galaxy Digital Links Politics Unchained: Trump Taps Hedge Fund Manager Scott Bessent to Be Treasury Secretary The Trump-Connected Brad Bondi Is A New SEC Chair Contender and Pro-Crypto Investing: How Scott Bessent Plans to Reshape the US Economy with His 3-3-3 Rule Macro Investing: US manufacturing improves in November as orders rebound, input price gains slow Operation Chokepoint 2.0 Forbes: How ‘Debanking’ Tech And Crypto Companies Could Kill Businesses Marc Andreessen and the CFPB: Debunking the Debanking Debunkers by Nic Carter Unchained: Regulators Are Limiting Banks Serving Crypto Clients. Does That Violate the Law? Unchained: Killed By Politics, Ex-Diem Boss Says of Meta’s Stablecoin XRP Unchained: XRP Becomes the Top Traded Token on Binance and Coinbase, Hits Almost 7-Year High XRP Rallies 70% in a Week to Top Solana, Tether Market Cap The Block: WisdomTree files with SEC for spot XRP ETF Ethereum Unchained: Ether Gains 19% Against Bitcoin in a Week After Months of Underperformance Timestamps: 00:00 Intro 02:15 Why the new Treasury Secretary could reshape the economy 06:28 Is a December rate cut unnecessary? 15:18 How Marc Andreessen spotlighted Operation Chokepoint 2.0 19:54 The missed opportunity of Facebook’s Libra for USD dominance 26:48 Will stablecoin legislation finally pass in 2025? 31:28 Why Ram thinks Ryan Selkis should be the “Crypto Czar” 34:45 Bitcoin conversations taking over Thanksgiving dinner 39:48 Is the XRP rally a red flag for the market? 48:15 James’s take on new ETF filings like WisdomTree’s XRP 55:48 Why Alex believes ETH could extend its recent gains 1:01:37 What MicroStrategy’s NASDAQ addition means for crypto Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I would say the level of inbound I'm getting around digital assets has never been higher.
0:07.3	And it's from a new layer of parties that have previously not engaged with me personally on that topic.
0:14.4	Hi, everyone.
0:15.2	Welcome to Bits and Bips, exploring how crypto and macro collide one basis point at a time.
0:19.3	I'm your host, James Safer, Tadfai Archmaister, Lord of Bloomberg's End. Today, it's just me from the original crew,
0:25.4	but before we begin, we have some exciting news. Our team's growing. We're thrilled to welcome
0:29.6	two new amazing co-hosts. They've been on the show before, Noel Atchison, author of
0:33.5	Crypto is Macro Now Newsletter, and Rom Al-Alualia, founder and CEO of investment firm Lumida.
0:39.0	We had the both of us guests in the past, as I said, and we all thought their expertise
0:42.1	and insights would make bits and bibs even better for diving to the worlds of crypto and macro.
0:46.0	And there's more. We're moving to a weekly format, which is part of the reason why we're adding
0:49.4	some more hosts. So with so much happening, the markets, the bull market that we're in, we hope our new schedule helps to stay ahead of the news and hear from us more often.
0:57.1	Just remember that nothing we say here is investment advice.
0:59.5	Please check unchain crypto.com slash bips and bips for more disclosures.
1:03.8	And today we're also joined by Alex Thorne, the Bitcoin Viking of House Galaxy.
1:08.2	Alex, before we get in, why don't you give us a little background in how you're relevant
1:12.1	to our conversation today?
1:14.3	Yeah.
1:14.6	Hey, James.
1:15.8	Hey, everyone.
1:17.0	Super happy to be here.
1:18.0	I've been a fan of the show.
	...

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