WEBVTT - Crypto Security & Coinbase’s S&P 500 Milestone: Risks, Opportunities, and the Future Explained

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<v Speaker 1>Earners. What's up.

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<v Speaker 2>by P and C Bank, a lot of people think

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<v Speaker 3>So let's get into the crypto conversation. Last week a

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<v Speaker 3>Coinbase was named into the S and P five hundred

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<v Speaker 3>and you know that skyrocketed their stock and it's also

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<v Speaker 3>been encouraging news for the crypto community as a whole,

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<v Speaker 3>so going forward, but they also had an issue as

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<v Speaker 3>far as for sure security breach. So let's talk about

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<v Speaker 3>the security issue, and let's also talk about coinbase future

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<v Speaker 3>as far as its stock price and you know, stability

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<v Speaker 3>as a company.

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<v Speaker 4>I think the security issue is just the penality of leadership.

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<v Speaker 4>I think Brian handled it pretty well. I think he

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<v Speaker 4>was very direct and addressing it. He didn't skirt around

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<v Speaker 4>the leak of the news or the break of the news.

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<v Speaker 4>So I do like that. As far as them being included,

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<v Speaker 4>A lot of people were asking does this give crypto

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<v Speaker 4>a lot more credibility? And I'm gonna be honest with bitcoin,

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<v Speaker 4>if it's the highest return of asset of all time,

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<v Speaker 4>how much more credibility does it need.

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<v Speaker 1>It's outperforming Bitcoin or you know, bigcoin.

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<v Speaker 3>Yah crypto or all right, crypto currencies outside of bigcoin,

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<v Speaker 3>because I think I think at this point people have

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<v Speaker 3>already solidified bigcoin. Yes, when they say gave credibility to crypto,

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<v Speaker 3>I think they're talking about every other crypto currency outside

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<v Speaker 3>of bigcoin.

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<v Speaker 4>Most, I think are not institutional assets to hold long term,

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<v Speaker 4>even on the retail side. I know, I don't want

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<v Speaker 4>to cause the war between the other crypto of factions,

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<v Speaker 4>but there's only one to invest in currently if you

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<v Speaker 4>want an incredible return.

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<v Speaker 1>I think the crypto currency market at large.

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<v Speaker 4>Needs some reform and just needs better projects for sure.

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<v Speaker 4>But as far as a coin business inclusion, I think

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<v Speaker 4>it goes to the testament of people want high returns

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<v Speaker 4>and they want something that isn't necessarily tied to the

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<v Speaker 4>dollar in the current regime. Do I like moon coin

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<v Speaker 4>or or Solano the most. I mean, I think we've

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<v Speaker 4>had the conversation enough. Sharp is still fighting a good

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<v Speaker 4>fight and hopefully that make a turnaround. But if you

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<v Speaker 4>want some exposure that is not tied directly to Michael Saylor,

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<v Speaker 4>coin is a good alternative, even though I think MicroStrategy

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<v Speaker 4>is better.

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<v Speaker 1>But I think we.

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<v Speaker 4>Can be very honest to overall crypto market, there is

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<v Speaker 4>nothing to invest in but bitcoin.

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<v Speaker 1>Yeah.

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<v Speaker 2>I think that's what makes it interesting is that when

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<v Speaker 2>you Bitcoin and coin base of synonymous with each other

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<v Speaker 2>at this point, because coinbase is the largest custodian of

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<v Speaker 2>bigcoin in the world, then own twelve percent of all

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<v Speaker 2>the bitcoin.

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<v Speaker 1>Yeah, right at this point.

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<v Speaker 2>Right now, I think they said that they manage over

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<v Speaker 2>four hundred billion in cryptocurrency, which is a great uptick

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<v Speaker 2>from last year where I think they closed that three

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<v Speaker 2>twenty five billion. But they also are the largest custodian

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<v Speaker 2>of ethereum as well. And so if it's will it

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<v Speaker 2>impact the entire space, no, will it impact certain coins, yes, for.

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<v Speaker 1>Sure, he is one of them.

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<v Speaker 2>They also are the largest custodian of Solana as well,

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<v Speaker 2>and so those are three coins. If Coinbase is the

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<v Speaker 2>custodian of and you're trying to invest in the space

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<v Speaker 2>without directly investing in it, yeah, coin makes a lot

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<v Speaker 2>of sense. And it's obviously the first digital asset to

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<v Speaker 2>be on the S and P five hundred, So it's

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<v Speaker 2>it's a.

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<v Speaker 1>Major monumental moment.

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<v Speaker 2>Like you said, good coins is already been solidified once

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<v Speaker 2>it crossed certain thresholds fifty five one.

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<v Speaker 1>Hundred thousand, now it's been there.

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<v Speaker 2>But coin it, I mean, it's a good investment if

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<v Speaker 2>you're looking to be in the space without directly owning

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<v Speaker 2>those coins, well, yeah, for sure.

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<v Speaker 1>Pushback, thank you now you put that.

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<v Speaker 3>I was going to say, because for people that's listening

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<v Speaker 3>the close all right, the next best thing and not

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<v Speaker 3>owning big cooin is is owning the bigcoin etf I bet.

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<v Speaker 1>So it's related.

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<v Speaker 3>Coinbase is related, but it's not direct because some people

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<v Speaker 3>still an educational process that for sure keep in mind.

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<v Speaker 3>So I don't I want people just to fully understand

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<v Speaker 3>because we can't take it for granted.

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<v Speaker 1>Owning coin base is not like owning bitcoin.

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<v Speaker 3>It's it's related because it's like what you just said,

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<v Speaker 3>it's the brokerage. But if you do want to have

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<v Speaker 3>if you want to mimic bitcoin's performance on the stock

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<v Speaker 3>market and not actually own bitcoin and not have to,

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<v Speaker 3>you can you can buy ibit And there's other bitcoin

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<v Speaker 3>ETFs which track bitcoin. Now why would you do that

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<v Speaker 3>because if you feel like you're not one hundred percent

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<v Speaker 3>confident with crypto. As far as the security, there's no

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<v Speaker 3>recourse if money gets if your crypto gets stolen. Ibit

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<v Speaker 3>is on the stock exchange, so it's regulated. You get

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<v Speaker 3>it through the brokerage. There's some level of security. There's

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<v Speaker 3>also that's important for people to understand because a lot

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<v Speaker 3>of people still don't understand crypto. They understand bitcoin, they

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<v Speaker 3>want to buy it, but they don't understand it. They

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<v Speaker 3>don't understand it the nuances or how to keep the

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<v Speaker 3>coin safe, and the difference between the cold wild and

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<v Speaker 3>the hot water. It's kind of like mumbo jumbo. So

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<v Speaker 3>and then for the people that's like, all right, well,

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<v Speaker 3>if you don't invest in bitcoin, then ibit is not bitcoin. Yes, true,

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<v Speaker 3>but the thing about bitcoin is that is liquid. You

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<v Speaker 3>can always buy bitcoin. So if you can buy ibit

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<v Speaker 3>and at any point in time cash that and then

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<v Speaker 3>buy bitcoin, but at least you're actually still participating in

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<v Speaker 3>upward mobility of bitcoin if you feel bitcoin is a

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<v Speaker 3>good investment without having.

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<v Speaker 1>To go through all of the hurdles and.

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<v Speaker 3>Obstacles that could potentially happen because of owning the outright cryptocurrency.

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<v Speaker 1>I got to ask the minute all the question why

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<v Speaker 1>I bit over micro strategy.

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<v Speaker 3>Well, because well, so ibit tracks Bitcoin dollar for dollar

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<v Speaker 3>as far as like whatever it does.

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<v Speaker 1>Ibit does that.

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<v Speaker 3>Micro's strategy is once again that's like a coin based

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<v Speaker 3>type thing, but more centered around bitcoin, where that is

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<v Speaker 3>a bitcoin linked investment. When it's direct, so Bitcoin can

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<v Speaker 3>go up and Michael strategy can go down hypothetically, right,

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<v Speaker 3>but it's also designed to it has higher volatility than bitcoin.

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<v Speaker 3>So the micro strategy is something that if Bitcoin returns

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<v Speaker 3>ten percent, micro strategy might do twenty percent. Yeah right,

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<v Speaker 3>So it's like you get higher leverage. So that's why

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<v Speaker 3>a lot of people have done options on Michael on

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<v Speaker 3>micro strategy and then just purchase bitcoin.

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<v Speaker 1>Purchase bitcoin for the long haul. That's a good strategy.

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<v Speaker 3>Options on micro strategy, so you get that accelerated growth

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<v Speaker 3>in a short period of time, but for bitcoin to ride.

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<v Speaker 3>So I would say, if if you really just want

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<v Speaker 3>to just do bitcoin and want an alternative, I bit

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<v Speaker 3>is the way to go. Micro Strategy is a I'm

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<v Speaker 3>trying to just fast track this thing and get as

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<v Speaker 3>much money as I possibly can while bitcoin is going up.

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<v Speaker 4>Yeah, and if you get in at forty three bucks,

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<v Speaker 4>I bet it's currently at the high or not a high.

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<v Speaker 4>Fifty nine dollars almost at the high. Sixty one is

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<v Speaker 4>way cheaper than micro strategy as well. For those of

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<v Speaker 4>you who are looking for a more cost effective alternative.

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<v Speaker 2>What do we think about the appreciation potential for coinbase

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<v Speaker 2>now that it's being added to the S and P

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<v Speaker 2>five hundred? How many funds will it be in? Will

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<v Speaker 2>the price increase over the next six or twelve months?

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<v Speaker 4>I think so on the institutional side, and just from

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<v Speaker 4>a validity standpoint, it does take some of that concern

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<v Speaker 4>or worry away from is this too volitude to well,

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<v Speaker 4>if it's in the s and P five hundred, it

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<v Speaker 4>has to be legit.

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<v Speaker 1>And you have to give Brian credit.

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<v Speaker 4>He's fought through a lot of wars business wise to

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<v Speaker 4>be able to survive this.

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<v Speaker 1>So I think their inclusion.

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<v Speaker 4>Is needed and it's very good and credit to SMP

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<v Speaker 4>four including them because there's a lot of legacy companies

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<v Speaker 4>that they probably could have kept in. But I'm glad

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<v Speaker 4>that they were included, and I should get to three

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<v Speaker 4>seventy eight.

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<v Speaker 1>They were included.

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<v Speaker 2>Discover Financial was removed, but they were acquired.

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<v Speaker 1>I believe Discover Financial was acquired.

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<v Speaker 2>But essentially, like you said, like they iPod in twenty twelve,

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<v Speaker 2>here we are in twenty twenty five. When they iPod,

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<v Speaker 2>it was an it was kind of around this idea

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<v Speaker 2>like will this space even exist exist?

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<v Speaker 1>Right?

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<v Speaker 2>So he wasn't coming in with the same type of

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<v Speaker 2>favor that a lot of companies come in with. So

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<v Speaker 2>to be here thirteen years later and being part of

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<v Speaker 2>the S and P five hundred it is a monumental moment.

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<v Speaker 2>But I mean, so the security part is part of it.

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<v Speaker 2>It used to feel like the safest way to do

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<v Speaker 2>it if I didn't know anything, was to be coin based.

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<v Speaker 2>We know that not to be true from some stories

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<v Speaker 2>that we've obviously heard and experience, but I mean, he

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<v Speaker 2>put out a ransom the other day. He was like, look,

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<v Speaker 2>they try to extort me for twenty million. I'm getting

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<v Speaker 2>twenty million into the people who can find them.

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<v Speaker 1>Yes, smart move. Yeah that was okay, Brian Bryce.

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<v Speaker 4>You can't pay any terrorists, man, because if they pay

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<v Speaker 4>that twenty somebody else is going to hack an Act

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<v Speaker 4>two hundred. It's a good big business lesson. You cannot

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<v Speaker 4>pay that excursion feed.

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<v Speaker 1>Yeah.

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<v Speaker 2>And as the price of big client is going up,

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<v Speaker 2>you've seen the amount of crypto theft going up. Absolutely.

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<v Speaker 2>I mean this is as part of it. So security

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<v Speaker 2>around that space is going to be paramount, especially as

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<v Speaker 2>that price continues to climb and climb and climb, because

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<v Speaker 2>we don't see it stopping here at one hundred, right,

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<v Speaker 2>it looks like that's a right. So yes, security around

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<v Speaker 2>the space is going to be a wave.

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<v Speaker 4>Oh the last note, crypto founders and crypto megal whales,

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<v Speaker 4>up your security. I know a lot of people may

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<v Speaker 4>have seen a video where the husband and wife was

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<v Speaker 4>almost kidnapped. If you go look at the amount of

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<v Speaker 4>crypto whales that have had unfortunate circumstances the last three

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<v Speaker 4>or four years, please be mindful.

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<v Speaker 1>I will say that.

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<v Speaker 3>And it's uh two point two billion dollars was stolen

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<v Speaker 3>in crypto in twenty twenty four and so far this year,

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<v Speaker 3>first four months, one point seven billion has already been stolen.

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<v Speaker 3>And that doesn't even a count for the tool, the

0:12:20.280 --> 0:12:25.360
<v Speaker 3>full cryptos hacking and everything that's been going on. So

0:12:25.559 --> 0:12:27.720
<v Speaker 3>when you look at it from a standpoint of crypto,

0:12:27.880 --> 0:12:31.280
<v Speaker 3>is this security aspect has not been solved, it's not.

0:12:31.440 --> 0:12:32.840
<v Speaker 3>It's not an issue that has been solved. It's an

0:12:32.880 --> 0:12:36.240
<v Speaker 3>issue that is Actually it's only getting bigger. And we

0:12:36.320 --> 0:12:40.680
<v Speaker 3>posted this on Instagram, but you know there's a Michael Turpin,

0:12:41.760 --> 0:12:46.320
<v Speaker 3>So it's interesting this this made news twenty eighteen. Hackers

0:12:46.320 --> 0:12:49.079
<v Speaker 3>stole twenty four million work for Crypto from his phone,

0:12:49.679 --> 0:12:54.559
<v Speaker 3>and how they did it was through a SIM swap scam,

0:12:54.960 --> 0:12:59.640
<v Speaker 3>So they convinced AT and T to transfer his phone

0:12:59.720 --> 0:13:03.520
<v Speaker 3>number and or they had somebody on the inside do it,

0:13:03.559 --> 0:13:06.320
<v Speaker 3>and they they stole twenty four million dollars from his

0:13:06.360 --> 0:13:08.640
<v Speaker 3>phone and he actually sued them for two hundred and

0:13:08.640 --> 0:13:11.600
<v Speaker 3>twenty four million dollars. So the reason why the SIM

0:13:11.720 --> 0:13:13.920
<v Speaker 3>swap thing is interesting is that it actually happened to me.

0:13:14.120 --> 0:13:16.760
<v Speaker 3>I can't prove this, but I'm pretty sure that's what

0:13:16.800 --> 0:13:20.800
<v Speaker 3>happened because but my coin base got hacked. I had

0:13:20.800 --> 0:13:23.240
<v Speaker 3>to take my phone in to get serviced, and then

0:13:23.280 --> 0:13:25.400
<v Speaker 3>we went to LA and then I actually had COVID.

0:13:25.480 --> 0:13:28.240
<v Speaker 3>It was a whole long story, but my phone stopped

0:13:28.280 --> 0:13:30.120
<v Speaker 3>working for like two days, and then when it came

0:13:30.160 --> 0:13:32.560
<v Speaker 3>back on, that's when my coinbase was hacked. So I

0:13:32.640 --> 0:13:38.960
<v Speaker 3>think that somebody inside this store switch saw your Google

0:13:39.040 --> 0:13:43.360
<v Speaker 3>Instagram and said, oh, sim car swap. So that's this

0:13:43.400 --> 0:13:48.760
<v Speaker 3>is a real thing. So coin base security issue has

0:13:48.800 --> 0:13:50.520
<v Speaker 3>not been solved.

0:13:51.200 --> 0:13:56.120
<v Speaker 1>No, in the experts. What is the MAK that's insured?

0:13:56.240 --> 0:13:58.240
<v Speaker 1>Do we know? Is it is two hundred? Is it?

0:13:58.280 --> 0:14:00.240
<v Speaker 3>If you guys see, No, it's no insurance. What I'm

0:14:00.240 --> 0:14:03.880
<v Speaker 3>saying crypto. That's why I said if you want to,

0:14:03.920 --> 0:14:06.640
<v Speaker 3>if you want to safer route is I bit because

0:14:06.640 --> 0:14:11.439
<v Speaker 3>there's no insurance on crypto, so there's nothing you can

0:14:11.480 --> 0:14:14.760
<v Speaker 3>do about it, even if even if it's on coin base,

0:14:14.880 --> 0:14:15.920
<v Speaker 3>it's not there's no.

0:14:17.640 --> 0:14:22.840
<v Speaker 1>There's no insurance for that short coin base, is what

0:14:22.920 --> 0:14:24.120
<v Speaker 1>you're saying. That's Brian.

0:14:24.120 --> 0:14:27.280
<v Speaker 4>I'm sorry, but you do need you do need to

0:14:27.280 --> 0:14:32.280
<v Speaker 4>fix that issue for sure, triple factor authentication or something

0:14:33.360 --> 0:14:36.800
<v Speaker 4>triple the next leg because.

0:14:37.040 --> 0:14:38.680
<v Speaker 3>The vast majority of people is not going to do

0:14:38.720 --> 0:14:43.000
<v Speaker 3>a coal wallet, right. The coal wallet is the it

0:14:43.040 --> 0:14:47.080
<v Speaker 3>looks like a USB drive, this drive thing, and that's

0:14:47.120 --> 0:14:49.680
<v Speaker 3>when you actually have you know your code and you

0:14:49.720 --> 0:14:54.160
<v Speaker 3>actually own your own crypto, meaning you're the sole custodian

0:14:54.240 --> 0:14:59.280
<v Speaker 3>of it. But for most people, especially if you got

0:14:59.280 --> 0:15:03.400
<v Speaker 3>a lot of money, we're conditioned and trained to have

0:15:03.520 --> 0:15:05.600
<v Speaker 3>institutions hold on money like you know what I mean.

0:15:06.560 --> 0:15:09.000
<v Speaker 3>Most people are not going to have five million dollars

0:15:09.080 --> 0:15:13.480
<v Speaker 3>and just put it in a safe. They would rather

0:15:13.480 --> 0:15:16.440
<v Speaker 3>put five million dollars in the bank. Feel comfortable with that,

0:15:16.600 --> 0:15:18.960
<v Speaker 3>right If feel comfortable for five million dollars in josh wab,

0:15:18.960 --> 0:15:22.200
<v Speaker 3>they don't feel comfortable actually having five million dollars in

0:15:22.240 --> 0:15:23.640
<v Speaker 3>there in their possession.

0:15:23.760 --> 0:15:25.160
<v Speaker 1>So I don't know.

0:15:25.240 --> 0:15:28.600
<v Speaker 3>I think crypto experts are going to have that, but

0:15:28.720 --> 0:15:32.320
<v Speaker 3>the average everyday person I don't think is going to

0:15:32.360 --> 0:15:33.280
<v Speaker 3>be comfortable with that.

0:15:33.480 --> 0:15:36.280
<v Speaker 2>It'd be interesting to see what the encryption is, right,

0:15:36.320 --> 0:15:38.560
<v Speaker 2>if you're holding twelve percent of the world's big point

0:15:39.040 --> 0:15:42.400
<v Speaker 2>and you're managing over four hundred billion dollars of assets,

0:15:43.000 --> 0:15:43.440
<v Speaker 2>how is that?

0:15:43.600 --> 0:15:47.840
<v Speaker 1>How is that protected while being a target? Yeah? I

0:15:47.840 --> 0:15:50.240
<v Speaker 1>would love somebody to break that down for us that

0:15:50.240 --> 0:15:51.000
<v Speaker 1>that's interesting.

0:15:51.600 --> 0:15:55.000
<v Speaker 4>Does CrowdStrike have a crypto division or it's solely focused

0:15:55.000 --> 0:15:59.880
<v Speaker 4>on crypto or no, I'm.

0:15:58.960 --> 0:16:01.320
<v Speaker 1>Not sure give you that information momentarily.

0:16:01.480 --> 0:16:05.720
<v Speaker 4>Yeah, because whoever finds a way to provide it actra

0:16:05.800 --> 0:16:08.040
<v Speaker 4>layoff security, that's where the real money is going to be.

0:16:08.800 --> 0:16:11.440
<v Speaker 2>Right, that's going to be that's the way, right, And

0:16:12.200 --> 0:16:14.360
<v Speaker 2>we're speaking about crypto, but even.

0:16:14.160 --> 0:16:15.800
<v Speaker 1>In artificial intelligence as well.

0:16:15.840 --> 0:16:19.480
<v Speaker 2>For sure, you can see how this technology, especially when

0:16:19.520 --> 0:16:23.560
<v Speaker 2>we talk about cyber companies, CrowdStrike, Pale all to Z scale,

0:16:23.640 --> 0:16:24.720
<v Speaker 2>all these companies.

0:16:24.760 --> 0:16:26.160
<v Speaker 1>How important they will be.

0:16:26.360 --> 0:16:28.680
<v Speaker 2>Not now, but I mean definitely now, but even more

0:16:28.680 --> 0:16:32.520
<v Speaker 2>so in the future as that becomes more of the commonplace.

0:16:33.240 --> 0:16:34.600
<v Speaker 1>These companies are going to be needed.

0:16:35.200 --> 0:16:38.840
<v Speaker 5>An illegal alien from Guatemala charged with raping a child

0:16:38.920 --> 0:16:42.720
<v Speaker 5>in Massachusetts. An MS thirteen gang member from El Salvador

0:16:42.960 --> 0:16:47.080
<v Speaker 5>accused of murdering a Texas man of Venezuelan charged with

0:16:47.160 --> 0:16:51.080
<v Speaker 5>filming and selling child pornography in Michigan. These are just

0:16:51.160 --> 0:16:54.920
<v Speaker 5>some of the heinous migrant criminals caught because of President

0:16:54.960 --> 0:16:58.480
<v Speaker 5>Donald J. Trump's leadership. I'm Christine Noman, the United States

0:16:58.560 --> 0:17:03.880
<v Speaker 5>Secretary of Homeland under President Trump, attempted illegal border crossings

0:17:03.960 --> 0:17:07.160
<v Speaker 5>are at the lowest levels ever recorded, and over one

0:17:07.240 --> 0:17:10.440
<v Speaker 5>hundred thousand illegal aliens have been arrested. If you are

0:17:10.520 --> 0:17:14.440
<v Speaker 5>here illegally, your next you will be fine nearly one

0:17:14.480 --> 0:17:19.040
<v Speaker 5>thousand dollars a day, imprisoned, and deported. You will never return.

0:17:19.359 --> 0:17:22.359
<v Speaker 5>But if you register using our CBP home app and

0:17:22.480 --> 0:17:25.800
<v Speaker 5>leave now, you could be allowed to return legally. Do

0:17:25.920 --> 0:17:31.040
<v Speaker 5>what's right, leave now. Under President Trump America's laws, border

0:17:31.240 --> 0:17:33.080
<v Speaker 5>and families will be protected.

0:17:33.160 --> 0:17:35.320
<v Speaker 1>Sponsored by the United States Department of Homeland Security,