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Market Momentum: Big Tech and Crypto Insights from Money20/20

Market Movers: The Opening Bell

October 29, 2025

Video Transcript

A few weeks ago we were seeing record price action across multiple asset classes.

Big tech has been stealing the show as of late, and cryptomas have been sluggish with Bitcoin and E slipping yesterday afternoon, as well as gold and silver.

They have been pulling back, but we have seen gold recover that 4000 level.

The major averages.

Today are extending record closes following Monday's and Tuesday's gains, and we saw Apple hit a $4 trillion market cap yesterday with Nvidia close to that $5 trillion market cap level.

Well, joining me live here in Vegas is Tong Tan Gong, chief operating officer for Amber Data.

Well, thank you so much for joining me today.

Morning, Remy.

Happy to join you live from Money 2020.

Yeah, absolutely.

It's been quite a whirlwind here in Vegas as we went through each day of the conference, but I do want to take a look at the markets.

So while you and I were here in Vegas, in New York, we saw the major stock averages hit new record highs.

So what do you make of the gains and the levels?

I think there are multiple tailwinds that's pushing the market to go into the right direction, right?

And today is a big day.

We're expecting FOMC, the Feds to release the rate, and I think the market is expecting a 25 basis point cut.

We're all hoping for that and uh I think the dovish.

First, and along with the expected earning that's going to be released today for um it's alphabet meta, right?

And I think that's gonna, everybody's expecting good good things and also renew trade talk with Trump's um Asia trip, right?

So I think um.

Today is an exciting day, yeah, yeah, and you mentioned the trip in Asia that Trump has been on since this past weekend.

Of course, we're anticipating that meeting between Trump and China's leader Xi Jinping.

So what are your expectations for that?

Oh my goodness.

So I think we all know, we're already tired of the, the uncertainty, right, and the, the terror of the trade war that's overhanging us for the better half of this year and progress and Resolution comes from these face to face meetings and, and, um, you know, collaborations.

I think this is the first time I believe President Trump's meeting with President Xi uh for this term, so I'm very looking forward to that uh dialogue and conversation.

I think, uh, you know, fentanyl is on the on the table and I believe China just bought the first cargo of, um, soybean and uh we also heard about the super duper chip um from Naviia might be.

You know, possible to enter the market in China.

So these are all very exciting gestures.

I'm looking forward to that, um, trade talk and have some kind of resolution.

You know, the global economy is intertwined more so than ever, and it's the trade war and tariff is not just hurting US and China.

I think many other countries are get caught in the crossfire, crossfire as well, well, so I think it's uh good for that, you know, the optimism is definitely there.

Yeah, yeah, it's really interesting because when we think about.

Geopolitics, politics, as well as what we've seen in the markets, despite all of the volatility we saw earlier this year, US markets are hitting record highs in terms of equities.

We are looking at a double digit percentage gain for gold, for example, outpacing the equity averages.

So there's a lot going on in terms of the drivers for these asset classes.

So as we head into year end, are there any specific price targets that you're watching?

I'm watching Bitcoin.

I think Bitcoin is gonna, uh, surge past 120, 125 again and I'm hoping for a 140 by year end.

Yeah, and while we're keeping a close eye on crypto prices, we're here at a conference that focuses on fintech as well as digital assets, the technology that underpins digital assets as well.

So what are your key takeaways from this year gathering and what are the implications for investors?

Like this is exciting time for digital assets, right?

So at Amber Data, we, we are data analytics company.

We provide data analytic insights for many of the leading financial institutions today that's adopting crypto.

And so we provide that intelligence, we definitely see the massive adoption, uh, the ETFs and tokenizations of, you know, treasury, uh, tokenization of um uh equity, and it's happening and look at money 2020, right, um, stablecoin, stablecoin, stablecoin, and uh Uh, and also from regulatory perspective, Gies Act and Clarity Act all kind of paved the way to clear off the uncertainty and so we can focus on innovation.

And of course in the nation's capital, the US government does continue and there's still a lot of uncertainty as we head into year end, but what is the data actually telling you when it comes to crypto and from that data, what does it mean for 2026 and beyond?

I think we, we definitely see the major institution adoption and the inflow of money into the the crypto assets and we also can see um the, the crypto majors like Bitcoin, Ethereum, they start stabilizing, right?

And they're trading like a range bound um because three weeks ago we had that big liquidation events, you know, I think that's the contingent effect of all coin that's in thinly traded markets and plus it highly leverage position when the market moves, uh, you know.

Catastrophe happens, but I think right now we're seeing the rebound, um, especially the majors, and, uh, and I think again the tailwinds, right, and it's pushing the market to the right direction.

OK, Tong Tang, well thank you so much for joining me here at Money 2020 in Vegas and thank you so much for sharing all of your having me.

My pleasure.

“I think we all know we’re already tired of the uncertainty, right, and the terror of the trade war that’s overhanging us for the better half of this year.” – 01:57

Remy Blaire welcomes Tongtong Gong, the Chief Operating Officer at Amberdata, for a live discussion from the Money20/20 conference in Las Vegas. The conversation begins with an overview of the current financial markets, highlighting the recent record highs in U.S. equities, particularly in big tech, while noting the sluggish performance of major cryptocurrencies like Bitcoin and Ethereum, as well as precious metals such as gold and silver.

Remy and Tongtong discuss the factors contributing to the market’s upward momentum, including the anticipation of a 25 basis point interest rate cut from the Federal Reserve. They explore the implications of this potential decision and how it aligns with the expected earnings reports from major companies like Apple, Alphabet, and Meta. Tongtong emphasizes the importance of these developments in shaping investor sentiment.

The discussion then shifts to the geopolitical landscape, focusing on President Trump’s recent trip to Asia and the anticipated meeting with China’s leader, Xi Jinping. Tongtong expresses optimism about the potential for productive dialogue, particularly in light of ongoing trade tensions and issues such as fentanyl and agricultural trade. She highlights the significance of face-to-face meetings in resolving uncertainties that have affected the global economy.

As the conversation progresses, Remy and Tongtong examine the performance of various asset classes as they approach year-end. Tongtong shares her bullish outlook on Bitcoin, predicting it could surge past $120, with hopes for it to reach $140 by the end of the year. This leads to a broader discussion on the implications of fintech and digital assets, especially in the context of the innovations showcased at Money20/20.

Tongtong highlights the growing adoption of cryptocurrencies by major financial institutions and the increasing interest in ETFs and asset tokenization. She notes that regulatory developments, such as the Genius Act and Clarity Act, are helping to reduce uncertainty and foster innovation in the industry.

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