The Oldest Player in the Game Is Going Big on Crypto

The Market Is Starting to Awaken to The Convergence                                                                                                                                                                                                                                                                                                                                                                                                                 October 04, 2024 | [Listen Online]( | [Read Online]( [Teeka Tiwari]( mailto:?subject=Post%20from%20The%20Digital%20Asset%20Daily&body=The%20Oldest%20Player%20in%20the%20Game%20Is%20Going%20Big%20on%20Crypto%3A%20The%20Market%20Is%20Starting%20to%20Awaken%20to%20The%20Convergence%0A%0Ahttps%3A%2F%2Ftiwariresearchgroup.com%2Fp%2Fthe-oldest-player-in-the-game-is-going-big-on-crypto The Oldest Player in the Game Is Going Big on Crypto The Bank of New York is one of the oldest in the world. Founding fathers Alexander Hamilton and Aaron Burr were among the group that established the bank in 1784. Five years later, Hamilton – then the Secretary of the Treasury – orchestrated a loan from the Bank of New York to the United States – giving the government its first loan. The loan paid the salaries of Congress and the nation’s first president, George Washington. And in 1792, it became the first company to trade on the New York Stock Exchange. Since then, the Bank of New York has become a giant in the financial world and major innovator on Wall Street. (In 2007, the Bank of New York merged with Mellon Financial – one of the world’s largest asset managers – to become BNY Mellon.) Today, BNY Mellon is the largest custodian bank in the world. It has $47 trillion in assets under custody… and $1.9 trillion under management across 35 countries. I’m sharing this brief history lesson to educate you about the future. For years, BNY Mellon has sat on the sidelines as tiny offshore firms and upstarts like Coinbase have made billions of dollars providing crypto trading and custody services. Crypto is the asset of the future. And BNY Mellon didn’t become a Wall Street titan by sitting idly on the sidelines and letting high-growth opportunities pass it by. It wants a piece of the multi-trillion-dollar crypto pie. And this 200-year-old giant has finally muscled its way into this asset class. On Monday, federal regulators gave BNY Mellon a waiver allowing the bank to custody digital assets on behalf of its institutional clients. Think about that… Really ponder what that means. BNY Mellon is tasked with safeguarding more money than the entire annual economic output of the United States. Why would you put that at risk if you weren’t completely convinced that bitcoin and digital assets have a bright future of further adoption ahead? BNY Mellon doesn’t take outrageous risks. You can’t survive countless wars, famines, pandemics, and depressions by taking outrageous risks. It sees the future, and it’s ensuring it doesn’t get left behind. This is just the latest evidence that [The Convergence I’ve been warning you about]( is playing out faster than even I expected. Friends, I’ve been working overtime trying to spread the word about The Convergence so everyone can position themselves in the correct cryptos. Because once the confluence of the three catalysts finally comes together – those holding the wrong tokens could see them get abandoned and ultimately go to zero… [While those who have positioned themselves correctly could see face-melting gains.]( Removing a Major Roadblock to Adoption The Convergence is the meeting of three one-time generational trends: The launch of the Ethereum ETFs… A friendlier regulatory landscape… And Federal Reserve interest rate cuts. I recently held a special briefing to explain how these three catalysts will push a tiny subsector of the crypto market much higher. [You can stream the replay right here.]( (NOTE: Do it now because the free year expires tonight at midnight) Of the three catalysts, the creation of a “friendlier regulatory environment” appears to be kicking in first. [In Wednesday’s]([Digital Asset Daily]([,]( I told you that just last week, the U.S. Securities and Exchange Commission (SEC) had approved the listing and trading of options against BlackRock's spot bitcoin exchange-traded fund (IBIT). This is huge because gigantic institutions will now have a way to hedge their exposure to bitcoin. Just days later, the SEC granted BNY Mellon permission to safeguard digital assets without having to list them as balance-sheet liabilities. The agency’s “non-objection” to BNY Mellon’s request will make it easier for the bank to offer these services while adhering to regulatory requirements. This could be an even bigger deal for bitcoin than the approval of bitcoin options. Here’s why…. Earlier this year, I told you about an obscure regulation that had been a major roadblock to crypto adoption. It’s called Special Accounting Bulletin (SAB) 121. The SEC introduced the notice back in March 2022. It requires digital asset custodians to hold their clients’ assets on their own corporate balance sheets as a liability. That means if a bank holds $1 billion worth of bitcoin on behalf of a customer, it will need to hold $1 billion worth of its own assets as security against that bitcoin. As I wrote back then, this is an insane request when the bank is taking no investment risk. This standard is only being applied to crypto assets and – in my view – seemed clearly designed to slow the adoption of crypto by the U.S. financial system. But Wall Street stalwarts like BNY Mellon see crypto as the future. And they have become powerful allies of the industry. With that much weight behind crypto, there has been intense lobbying pressure on Washington to ease the regulatory environment for crypto. BNY Mellon is now in a position to offer custody services without this burden, potentially paving the way for other traditional banks to follow suit. But don’t just take my word for it. Here’s what Bloomberg reported about the decision: SEC Chair Gary Gensler [said] the “non-objection” ruling is based on the custody structure itself, rather than the nature of the assets, potentially allowing other banks to adopt a similar model for crypto custody, and also potentially expanding the digital assets that they can have custody of. According to Yahoo! Finance, fees attributed to the crypto custody market are currently valued around $300 million and are growing at an annual rate of about 30%. You think Wall Street will let all those fees flow to upstarts? As I always tell you, never bet against Wall Street greed. Of course, nothing is ever easy when it comes to crypto adoption. And there will be bumps along the way. But now that the industry has powerful allies in the form of global banks like BNY Mellon… Investment firms like BlackRock and Fidelity… And massive pension funds… Along with the coming support of the U.S. options market, Washington will have no choice but to accept the inevitable: Crypto is here to stay. The Market Is Starting to Awaken to The Convergence Right now, one of the three catalysts that makes up The Convergence is starting to move the market. But you don’t want to wait until all three align. By then, it’ll be too late. Consider this… Bitcoin ended September up 7.3%. This is very bullish because September is historically a bad month for the king of crypto. It’s only finished in the green in September three times since its launch in 2009. Meanwhile, October is generally the best-performing month for bitcoin. And the numbers are starting to show that. According to Kaiko research, offshore options volumes have increased over the past few weeks as markets shift to a risk-on mindset. Traders are positioning themselves to capture upside price movements ahead of October, which is historically BTC’s best trading month. BTC’s price has only ended October down twice since 2013. This is important because as bitcoin goes, so do altcoins. But I expect a special subset of alt coins to do even better… Recently, I held a special briefing where I revealed this tiny subsector of the crypto market that will get a massive tailwind from The Convergence. [You can watch the replay right here.]( (Again, the free year ends tonight so watch it now before you lose your free year.) You’ll also get details about six tokens I’m targeting in this niche sector. What makes these tokens unique is that they have automatic payouts that generate income month after month after month… no matter what’s happening in the market. That’s why we call them crypto payout coins. I know I sound like a broken record. But the time to act is now. You don’t want to wait for confirmation that The Convergence is underway. By the time you get it, the tokens I’ve targeted could have already gone up 5x or 10x. If you’re sitting there bored or thinking maybe I can get in at a better price, I want you to think again. Remember what I’ve taught you: When it comes to crypto, you have to go in the opposite direction of what your emotions are telling you to do. The friendlier regulatory landscape catalyst alone isn’t priced into bitcoin yet. If it was, we'd be well over $100,000 per bitcoin. [Imagine what happens when all three of these catalysts align.]( Friends, all of the chess pieces are in front of us. They’re telling us what they’re doing. They can’t hide from us. All you need to do is take action and… Let the Game Come to You! Big T Share The Digital Asset Daily You currently have 0 referrals. [Click to Share]( Or copy and paste this link to others: [ [fb]( [tw]( [ig]( [yt]( [in]( Update your email preferences or unsubscribe [here]( © 2024 Tiwari Research Group 1607 Ponce De Leon Ave San Juan, Puerto Rico 00909, Puerto Rico [Terms of Service](