 Hello, everybody. Welcome to today's live stream. These are one of these these days that it's not so Wise I think to focus on the markets It's kind of a good day to focus on what's going on behind the scenes And this is what I would call a master class Given by Ripple's CEO Brad Garlinghouse This is a great response to getting away from the fud that the Jamie diamonds and the Gary Genslers and the senator Elizabeth Warrens of the world just kind of Dump on us day in and day out and this is the things that we have to understand to really push the narrative of what's happening So we're gonna go through this in detail about what's going on and about what Brad is saying This is a Fox business interview that Brad gave over a Davos and we're gonna go through this piece by piece So the first part he's going to talk about The ETF narrative and it's very quick. So just take a listen and go from there Well, I think it's a very big deal In large part because I think it's further validation from Institutions and even in this case a government entity where you know the crypto has been on kind of the outskirts I think and increasingly you're seeing that come into the mainstream and so I think it's a validation I think it's further Indication of more institutions coming into the crypto asset market Yeah, I just wanted to kick off with that because it's just a good way to kind of open things up This is the things that I've been saying I didn't really care so much if we actually had the ETF approved I personally didn't think it was gonna get approved and of course I was wrong in that one But it just shows Another aspect of it to say like hey Yeah, it actually got approved and it's really good for the industry because it kind of gives us, you know a little bit of notoriety and Legitimacy as we move forward especially because of the institutions that are actually coming in so I have to you know wholeheartedly agree here with Brad what he said so The next part we're gonna talk about is the Jamie Diamond narrative How we kind of move away from that because this was an actual video that we took a look at just a couple of days ago And this was also being recorded at Davos This is the CEO of JP Morgan. This is Jamie Diamond and he's gonna talk about what? Essentially is crypto used for and I need to play this so you understand like Where the information that people are getting this from because when you go out there and talk to people They're gonna start to talk about well, you know, I heard it's furloughist activity And I heard for this and I heard it because this is the same kind of parroting talk So just take a listen this is about 20 seconds or so and then we'll go from there First of all, I'm not trying to make a joke here. There are use cases AML fraud Anti-money laundering tax avoidance sex trafficking Those are real use cases and you see it being used for hundreds maybe 50 or 100 billion dollars a year for that That is the end use case everything else is people train among themselves Yeah, so I mean Well, I mean we talked about that quite enough on this channel I'm not gonna beat it to like a dead horse But it is just one of those things that's you know, people are gonna keep saying and they're gonna keep saying an ad nauseam It's kind of a pain, but that's what it is. However, just remind them this illicit activity There was a report this came out from chain analysis. This is from Paul rule is the head counsel for Coinbase and This was a little data piece that over 24 billion worth of crypto was actually received by illicit addresses in 2023 Accounting for zero point three four percent of all transaction volume chain analysis has estimated now Of course any percentage is too much percentage but the vast majority of course is being used by the US dollar and The reason I talked about it is because Brad knows these things and we know these things and just very it's very good of What actually is said in the next round with Brad here as he talks about it kind of like piggybacks on what Jamie Diamond says and kind of dispels these types of notions. So I just take a listen here This is a real quick section and we'll talk about moving away from the Jamie Diamond there And and riffle enables global financial institutions take take us through that. How so ripple at its core We sell blockchain technologies and solutions to enterprises. We focus primarily on financial institutions We started with a payment solution to settle cross-border settlement for banks for PSPs You know typically cross-border payments have been slow. They've been expensive using these technologies We can dramatically reduce the cost and increase the speed and efficiency and now you're seeing financial services Institutions try to get their own strategy with regard to blockchain underway. How is that change the dynamic for ripple? Well, I think anytime you have a new technology It's it's nascent and although crypto has kind of been around for ten or almost twelve years Let's say it's still new and I think you have a lot of large Organizations, even JP Morgan despite Jamie Diamonds comments about how he thinks about crypto They're investing heavily in blockchain technologies. Now that being said, I think in order for blockchain to thrive and for the largest Population to benefit from these technologies. You can't have insular closed networks Like the whole point it's kind of like the internet the internet opened up networks You had a well and comp you serve in prodigy along comes the internet to create interoperability Crypto does that and can do that across many banks and to provide dramatic improvements to how we think about money movements And it really any transaction I get I mean perfect right there, right? It actually it shows people that look You know Jamie diamond can have his opinion and people gonna have their opinion But this is what's really the reality that's going on and we're actually have a legitimate business And we're actually helping things move forward and we're actually helping customers Not only with their with their transactions, but also I mean as far as fees, but also speed So I mean these are the things that we need to keep talking about and move things forward So that was just moving away from the Jamie diamond piece and now it gets really interesting because Maria here is gonna ask him Well, you know, what is this? How did this all come down between Ripple and SEC and These are the parts that I truly relish and enjoy because I get to hear people gloat but not really gloat of how they Beat the pants off the SEC and did a pretty good job So just take a listen here as they talk about the SEC and why they keep losing and with any new technology I question whether or not those writing the laws around the regulation framework really understand the technology now recently You called the securities and exchange commission chairman Garry Gensler a quote political liability to the United States You said he's acting in the interests of Citizensary or the long-term growth of the economy that he's not acting in the on behalf of customers and users tell us more Well, I think Gary Gensler has prioritized hiring more lawyers to litigate the industry and this is often described as You know it or kind of regulation through enforcement If we just took the time to codify rules of the road most of the industry in crypto wants to follow the rules the road Countries around the world have leaned in even the European Union 27 countries in the European Union come together to create a Construct for how crypto should be regulated in the United States. We haven't done this work I jokingly suggested maybe what we should just do is type into chat GBT. How should the US that's more than the US SEC has done and it's frustrating and I think even I guess yesterday there's a court hearings and coin based in the SEC and That the judicial system continues to slap down the SEC because they're overreaching they're overstepping what the laws say It's the reason why they lost the case against ripple It's a reason why they lost the case against grayskills the reason why they were dragged kicking and screaming to have an ETF Thus, you know as I was quoted. I think Gary Gensler hasn't been acting. He's been acting on almost his own agenda Not the people's agenda in the United States Why you know, I wish I had a clear answer to that I think these are technologies that are here to stay and the ETF approvals. I think further indication of that It's just frustrating that we're spending so much time the judicial process to get clarity when we could do that as many other Countries like Japan the UK the UAE Switzerland here in Switzerland. Yeah, these are not small economies They're doing the work to provide that clarity in the US I think it's become a political agenda not a policy agenda from someone who studies and that's it That's the whole thing and this is why I never Thought that the ETF would go through because it was a political agenda because for the SEC The chair Gary Gensler and the other two commissioners their Democrats and there's other two are Republicans I didn't think that they would agree on anything and it was Gary Gensler Actually had to break that tie and actually came through which I found I mean shocking quite honestly But he's right and this is a problem and this is why Americans getting less than the dust This is why Ripple has actually thrived in the face of going against the SEC and spending millions hundred I want to say it's over a hundred million dollars now of what they spent illegal fees to get this out the door It's because they have embraced the rest of the world Because the US is dragging its feet and pushing it down if the US would just do what they did with the internet Back in the early 90s and gave it some sort of regulation when it was law 212 They said look you will not be sued if you are an internet provider and somebody says something Disingenuous on your platform you cannot be sued and held responsible for that We can move forward just that little bit of legislation allowed the United States to take Charge and actually do great things as far as the internet now We become the hub and now we're losing that and that's just the reality of the situation So I got to tell you I got to applaud Brad I got to applaud everybody that on the Ripple team for really taking the hit and taking down the SEC so thanks and now to finish up and Then this is kind of like well I was just talking about why the US is actually is losing crypto and of course the days of the internet when we did it Right actually, I'm gonna skip that because it's pretty much got there. I want to go this next piece There's only two pieces left this is like a little little gotcha question because Well, I'm really gonna ask him is about China and how China is not getting around the the rules and laws and regulations of Crypto and it's actually becoming a problem. So just take a listen to this. This is at 645 take a listen to this. It's kind of a gotcha question, but Brad answers it perfectly Ina's crypto traders are evading the rules there They write this the success of the country's crypto traders and evading the rule shows how difficult it will be For regulators across the world including the United States to actually police this industry your reaction You know, I think there are elements of that with any new technology You know, there's obviously the great firewall of China is something that has people have sought to circumvent evade within China for You know probably a decade or two I think again if you think about the activities that these technologies enable KYC still matters AML still matters and ultimately today, you know, they're the off-ramps through typically exchanges like Coinbase that are very good Actors where I think you are able to enforce these kinds of regulations That's part of the you know, the self-inflicted wound of a settlement with Binance the largest exchange in the world With the US government, you know, but I think a few months ago Well that settlement you just referred to congratulations to you and to yeah, and I mean just to just to piggyback off that I mean, this is how you do things, right? Like you don't step around the question and just gonna kind of blow it all off and go KYC will not a big deal answer the question perfectly There is there is a place for that and crypto assets We're actually following the rules is just that we can't get anybody to let us into the room because they are regulating by enforcement So again excellent way to do these things and the last one is this was a pretty great piece where he really gets in the Jamie Diamond and Maria praises him for actually what happened grayscale What does this mean for you in terms of new business opportunities now that that's behind what we ripple Thrived under the scrutiny of the SEC but outside the United States My hope is that now that there is at least clarity for ripple that XRP is not a security That that opens up the US market a little bit the challenge of course is you still have US regulators who are pretty hostile, right? The the SECs continues their Litigation enforcement through litigation and you know, even the OCC has been pretty negative about crypto My view is this is a technology. This is an asset class that is here to stay We need to embrace it and understand that I think ultimately the US typically gets it, right? It just has taken a little while so what's the pushback for Jamie Diamond who was on the program last week saying look look who's using crypto You know terrorists look who's uses sex traffickers, you know my reaction to that is Terrorists and sex traffickers use cash if you look on a percentage basis I'm not trying to say that any new technology bad actors can use any new tool bad actors Will use AI bad actors will use crypto bad act I think there are a lot of very good actors in crypto who are doing the right thing ripple only works with regulated financial institutions You can't have anonymous transactions using ripples technology. So yeah, some of those things I think are good political talking points They're not reality. Yeah, well said Brad. Great to have you this morning. They are not Reality again masterclass. That was that's how you supposed to do things you supposed to go on to an interview As the question the best of your abilities and move forward any answer them perfectly these are things that I play these things and we talk about these things is because to move forward for us for everybody here that I think the next couple years are gonna be critical and I need everybody to Kind of be on board with the things that are true and untrue And if we don't because the people that are gonna get into our space They're not people that are gonna they're gonna watch Fox and I watch MSNBC and CNN But then they're gonna talk to you and they're gonna trust you or they're gonna talk up Trust a banker. They're gonna trust you more. They're gonna talk trust a senator They're gonna trust you more they're gonna touch the CEO of a big business So when they're saying like hey, what's up with this solicit activity and what about this is ETF What about anonymous transactions and what I'm always think I need you guys to understand this So when you get asked these questions like well, this is the reality What's the activity? It's less than 1% the ETF is kind of up and down But the long one will be pretty good Don't get too caught up right now just to have a long-term horizon for your outlook is pretty good if trying to get rich quick It's not gonna work out just the simple things like that if we can do these things I think in the next two years, we can really have a great bull run anyhow Let me just think about that in the comment section and then Also, just wanted to piggyback off that a little bit, which is just some some mental aspects of Investing now on this channel. I can't tell you what to do not a potential advisor. I'm sure not your dad But there's some rules we try to follow right one. It's all gone. Don't invest money before to lose everything's a scam It's up here. Otherwise, you don't even trust me Don't leave anything on exchanges. Don't use leverage take profits along the way simple, right, right? so there was this tweet I put out today and I just need the people to stop Not you guys you guys get it, right? But again, I need you to kind of help me out here and I said this very simply stop complaining Stop crying and take some profits and really what it comes out. It was greed So this was a chart I pulled up and it's the same thing going over and over again It's where people say hey, I'll take some profits at some point. They start out. This is today generates. Well, actually no today's January 19th, right? What's a day today? All right. All right. Yeah, 19 January 18. Oh, okay 1130 at night and then of course it came over here So it started $6 and then it went to like almost 10 and I'm saying like people are doing this So like, okay, I'm gonna start at 6 and then it comes up. I'm are you gonna take profits? No, no It goes down. Of course, I'm not gonna take any I just check a little bit of a trickle down I'm not gonna any profits not yet diamond hands. No and like right here. You're at almost 14 bucks in like six hours Or eight hours correct me the comment section You should be taking profits along this way. What are you doing? If you're if you're too exed if if you're too exed you this is what you're thinking. I know what you're thinking you're thinking this Why would I take profits because it could turn X and of course we have this thing right here where we get to this not yet And then of course it drops and you're like, why you dumping on me and then it goes up You're like, hey, we're back and then it drops all again and oh I'm a victim victim. You're not Because here it just comes up again So this was a this was a chart I got it Satoshi VM and I'm ticked off. I didn't get into it early I didn't realize actually you started they honestly, but it looks good. It's a Bitcoin ZK roll up layer 2 It's compatible with a theorem virtual machine You're gonna have a layer 2 solution on top of Bitcoin to use EVM and Ethereum products. That's awesome Now I don't have anything against it I don't really know I mean these are the things that I know about it But the thing that was surprising is everybody's complaining because it dropped off. I'm like, why are people complaining about this? Stop complaining take your profits and and move on So this is what I'm gonna tell everybody like this Everybody's dumping on us, right? If you're DCing with me, I'm dollar-cost average right now I bought a bunch of stuff today like I do every day And I put this out and I told you I'm like look If you dump on me, that's fine. I'm a big kid Old person, but I have no problems with picking up those bags But do not complain to me When there's 10 to 50 X's and I start selling speaking of which there's a link in the description of all my videos Where I talk about exactly when I'm going to actually sell and all the indicators I'm going to use at that point I'll be selling 80% of my crypto and I will be stepping down from this channel and tell the bear market comes So I just want to be clear with everybody that we have to understand that We should be taking profits. We should not invest more. We can afford to lose We should believe everything is a scam and talk for otherwise We should not leave things on on leverage or on exchanges and we shouldn't use leverage just basic stuff and yeah That's it for today. So look if you like today's video, give a thumbs up consider subscribing everything we talk about is time-sensitive