
Loading summary
Chip
Foreign.
Jeff
Welcome to on the Chain. This is Jeff here with co host Chip. What's going on, Chip? What's going on? Everybody out there in the on the Chain community, on the Chain world, crypto world. I'll tell you what, XRP's historic Q4. We're going to go over that. We're going to talk about the RL USD boom. What does that mean exactly? What's that doing for crypto? What's that doing for xrp? What's that doing for normalcy in the space? Maybe replacing USDT and some of those others that aren't approved through the European Union. Billion dollar in trading and an ETP explosion also coming soon to a theater near you. Grayscale is working on ETF for xrp, as are a number of others.
Chip
It's exciting times, man. Exciting times. We're In Happy February. February 1st today.
Jeff
Oh, my God, it is.
Chip
Holy cow. That happened. We're already one month down in 2025. We're two weeks into the Trump presidency and there's just so much winning. Let's go. Welcome to on the Chains. Welcome, everybody. Drop where you are coming in from. We had some early birds in here. Fairly, fairly early. And I think Brian was a. Brian Wolf the first one in. No, he wasn't the first one. And we had PB TV 29, our Slovakian ground correspondent there holding down the, holding down the fort there. And then of course we had Brian Wolf came in from Colorado and it's cold over there. Yeah, Got the UK king Cots Conor. He's been the. An OG in the space for a long time. Early supporter of the show. What's going on? Good to see you, man.
Jeff
We got the King. The King is back to the King. No yeti in the profile, but getting ready for the drawing later in the show with a big yeti shout out.
Chip
He's back to the King. Back to the King.
Jeff
Now we got Australia. Oh, look at that. Look how fast that happened.
Chip
Hey, hey.
Jeff
Back to the little prowler.
Chip
Something weird. Something weird is going on because I. It's not collecting names. I see one in there. Okay, there's. Okay, I see it. Now there's two. Got it. We're good. We're good to go.
Jeff
Now they're gathering.
Chip
Now it's going on. Damn, that was fast. It was. Switch it just for the, for the show, then go back. I like that.
Jeff
That's.
Chip
I don't even know where I was looking for it the other day. I don't even know where it is. I tried really hard to try to figure out where it is. It's not like you just click on your image, just change it. You gotta like go to your. Some other.
Jeff
You gotta dig. Dig deep.
Chip
Got Akron, Ohio in there. I love that.
Jeff
All the cold places.
Chip
Oh, good morning all from Australia. Good day mate. Good to see you. John Page, Love our Aussies. We're gonna be there again this year. Jeff.
Jeff
We will be tuning in from Detroit.
Chip
He's over there on Dequinder hanging out, passing out, passing out, passing out some 11 pagers for the, for the show. Caroline's here. Look at Caroline's here. We can start now. Morning gents. We're both good. We're both good. We're happy. February.
Jeff
Caroline, it's with the lemon.
Chip
It's already evening for you have I should say good evening. We got Bradleton, Florida. Yeah. Somebody you know so many people are from Florida by the way. We will be. It's at least I know for sure that I will be at the. There's an upcoming summit and happening in March that Jeff and I are going to be there. It's a two day summit and it's going to be a fabulous time. Jeff and I are going to do a little bit of MC in there but more importantly it's going to be. We'll release some details about it but in the coming week. But we will. It's going to be a great time. And there's so many of you from Florida if you guys want to come down for that. Well, you know, we'd love to have you guys there. I'd love to meet her. We love to meet people in person. We've had some of the most fun interactions when Jeff and I get together with people from the community. Sometimes it's just me, sometimes just Jeff. But we'll both be there, so it'll be great.
Jeff
That's right.
Chip
Higher ratings in the Super Bowl. Well, I won't be watching, let's put it that way. I don't care. I really don't care. I really don't. It's not like I'm gonna say like, well, I hope the Eagles win. I hope that. I just don't care. I just don't care. After all the bad calls these last weeks. I mean, you know we have, we have technology in tennis. You can see exactly the ball, the replay exactly where it hit on the line. But rest aside games, guys, clearly almost a half yard, a yard over the line and like, oh no, let's move it back. Let's do it again. Let's move it back. Just can't. We can't have. We can't have humans determining outcomes of games. Let's let technology determine outcomes. So don't get me started on that.
Jeff
Good night.
Chip
Thank you. Don't get me started. Too early for the rant. Thank you. All right, Jeff, enough of that. Thank you and good night. Thank you and good night. Thank you and good night. Thank you. It's just too much.
Jeff
Stuck in the loop.
Chip
Yeah. You know what, what happens, guys is like on our soundboard, it's. It defaults to loop. So you click it thinking it's going to play once and it just keeps going, which is kind of a weird thing there. But so look at this here. Garlinghouse put this out. So he was talking about there's this new Q4 Ripple Market Reports that comes out every quarter. And so he commented on that saying, suffice to say the Q4 2024 was absolutely one for the XRP history books. Five different firms filed for XRP related ETPs in the US plus four more this month. Dude, that's a lot. You have nine total. I think they're all going to improve, but this is not the Gary Gensler. We're not in the era of Gary Gensler anymore. So can you imagine nine different related ETPs? You know, ETL, some crazy stuff is going on. And then we've got the RL USD, which Jeff and I are going to get into a little bit. But that launched, right? That happened. They just talked about it last, last July, I think it was June, July period when they introduced it. And it's so it's hitting 100 million market cap within a month. Pretty solid. And that thing's gonna rock it in 2025. And on chain XRPL decentralized exchange trading volume reached 1 billion in Q4. So this is what's interesting, Jeff. This is like the, the decks on the XRPL really for a while was pretty quiet, but it's the first decentralized exchange ever. Nobody even knew what a decentralized exchange was. The first one ever. And, and that's pretty solid volume. One billion. Whoa. A lot of that has to do probably with the increase in, in the XRP as well, but still pretty interesting. What do you think about. What do you think? I mean, this, this is a lot of news. Like it seems like it's nothing, but there's a lot going on especially. What do you think about this, Jeff?
Jeff
I think everything is gearing up. You know, they're getting ready. You know, to make a big transition within the financial institutions. I think we're going to see some big moves from the US Government in regards to the Fed. I think we're gonna start seeing some big moves regarding tax policy. We're also going to see some big moves regarding crypto policy. Everything's happening at the same time. You got to have everything in place. You know, if the, if the ground game or the, the ground isn't tilled properly, you don't, you didn't build the right structure, foundation for the structure, then how do you make everything else happen? So I think they're really, they're prepping. We've seen it being built over time. There's a lot going on. There's a lot of, you know, toes being dipped in the water for a long period of time and now it's all come into fruition. So the ETPs I think are, you know, definitely a major push in, in the right direction. If you look at what grayscale has been doing, you know, so you have the, at the, the grayscale XRP trust they recently filed to with the SEC to have that become an official etf. So they want to move from trust to etf. And the XRP trust right now per share of on grayscale is trading at, as of yesterday close 59.79. So it's pushing high. We saw some interesting moves with grayscale trust. When they launched Bitcoin and Ethereum Trust, they already had the GBTC ETF and then they had two trusts behind it. And it was as they launched that BTC trust, it came in at like, oh, $4 and something, $5 and something, whatever it was at. Then it did a 10 for 1 reverse split up and increased the price point. So it went from four to like 40 up and now it's trading up, you know, in more. It was, it was definitely a good move on their part, but there's so much momentum and interest in these ETPs across the board. It's not just grayscale, obviously.
Chip
No. Well, you got a really great question here from Thomas Bren. He's saying, what do you guys think the ETS will really move the price of xrp? With Bitcoin, it didn't seem to move the price much. Your thoughts on that as he takes a sip of coffee.
Jeff
Give you a chance to think. That's a great point. You know, we've, we've seen the price of XRP scale in the past couple months since the election. Right where November time frame, we're sitting at 50 cents. Now it's sitting, you know, circa like, you know, three. It just went under three yesterday I think was sitting at 299. But overall you think about, there's a lot of people investing institutions, individual investors, 401ks retirement accounts, all these people that want to get in don't have disposable income to get in, you know, on the side to invest, but they have money sitting in, in investment accounts they would love to put into. ETFs gonna do is get more people involved in investing. Within the crypto space, we're already seeing a massive push on the bitcoin side which also maintains additional identification, recognition of the product, of the crypto product, but then gets more people involved. So more people involved is more asset purchased, purchased and held. Obviously there's going to be some buying and selling of the etf. So then if we look at where it's going to go, it's, I think overall it's going to create more stability, more serious recognition and it's moving it away from, you know, just some people being able to invest, to everybody being able to invest. You know, that makes a big difference how that impacts the price point. That's still, you know, based on investor appetite at this point.
Chip
It's a good point. Brian Wilson, do you think the ripple will take the place of the Fed? Is it possible? I don't think it's possible. Because of Trump. Because first of all, in the United States we've had three central banks. The, the Federal Reserve is a third party, unverified, unaudited entity that nobody even really knows who's part of it. Okay, so the founders and framers of the United States stated they weren't interested in any sort of centralized banks. They didn't want that. They wanted sovereign currency. And Congress basically delegated all its authority. Some third party. This is everything but freedom. And this is why the Federal Reserve just does what it wants to do. Nobody, it's not regulated by anyone. The President has no control over it. The only one that can change it is Congress. And Congress the one to change it. But the problem with, you know, it came into fruition in 1913 under, you know, some, some shady circumstances. And then. Right, right then we had tariffs which were funding the United States. There was no such thing as an income tax. And after 1913 they formed. That's when the IRS came out of that. And originally, Jeff, it was 10% and it was only going to be the rich people. Haven't we heard that story before? Don't worry it's only going to be on the rich. We're going to tax the rich and it's only going to be 10%. Then what they did was they moved the tariffs down to 40%. They had them, it was funding it, all of it. So then they moved the tariffs down to 40% because now they were going to penalize the citizens. But not everybody. Oh, no, just the rich. And today everybody pays. Everybody pays. And now we're talking about tax cuts. What Trump wants to do is eliminate IRS altogether. Now, if that's going away, the only way you can have what Trump calls this jubilee or this like these new days. The only way to do that is you have to have a sovereign currency. And what will happen is if Trump gets rid of the Federal Reserve, happy days will be here again. Because first of all, getting rid of the IRS and income tax will take so much money and flood it back into the economy. Things will go ballistic. Imagine people. And the people that affect the most will be across the board, right? Depending. It doesn't matter what, how much you're paying, but it will be just extra money across the board. And then the Federal Reserve itself. And the reason I don't think somebody like a ripple can that can be come the Fed because we don't want a third party. I don't care who it is. We don't want a centralized third party. The way to do this in a sovereign currency is probably something digital, something probably blockchain based that can. That's a true sovereign currency that's issued by the United States government, not some third party, you know, independent firm. And what will happen there is it will collapse the central banks around the world. Why do you think there's so much opposition to Trump? The opposition to Trump is he's coming in and changing things. I mean, the first week he was already hitting like 50 of the things he promised, right? He's doing. He's also draining the swamp. We got some good examples of that. He wanted to drain the swamp because what happens in every country is the people that you elect to go represent, you end up don't representing you because of all. Everything's run internally by, you know, unelected bureaucrats. Jeff and I harp on this all the time, this unelected bureaucrat thing. So no, it's not possible. I don't. And especially not possible with Trump. Nor do we want something like that. No. What is possible, you have Cynthia Lummis, a senator in the U. S. Senate who is vying for a big strategic bitcoin Reserve because she's a bitcoin maxi and is dumber than a box of rocks when it comes to understanding the digital landscape. If you remember, her and Klobuchar were in an interview, Jeff, and they were talking about how much they thought Gary Gensler was doing a good job. This is not the person you want heading up anything digitally related in the Senate, okay? She's, she's, she's on my shit list. And she's quickly becoming the Elizabeth Warren in the Republican Party because somebody that laser focuses on just one digital asset, that's not the big picture, that's not, that's not scalable. And so this is why the bitcoin maxis were upset. Because when Trump put the, put the executive order out there, he said in there, it didn't say the bitcoin reserve, it said a strategic digital asset. I don't even know if the word was reserved, but it's going to be a basket. And why wouldn't it be? My God. We don't, when we invest in the stock market, you don't just go like, I'm going all in on one. No, we diversify. That's every, there's no, there's nobody out there that wouldn't say diversification is bad. So why would the US Government not diversify? But here's what could happen. This is, I was thinking about this this morning, by the way. Jeff, I want to get your thoughts on this. Now. When, when Ripple sells to institutional investors, they don't sell at the price, they sell under the price, right? So let's suppose, you know, XRP's trading at $3. But let's say the U.S. government wanted to buy, I don't know, 15 billion XRP, 20 billion XRP. Are they going to pay $3? They're not, they're not going to pay the spot price. You know, they're going to pay under that. All institutional buy less than right now, I don't know, significantly less than. So what, what are the chances of XRP going to 15, 20, 30, 40, $50? Right. You're talking about a big increase. Now let's look at, let's look at X. Let's look at Bitcoin. Bitcoin's trading right around a hundred thousand. But let's see, that goes up 10x1 Bitcoin's worth 1 million. That's 10x the possibility for a basket of currencies like a cardano, like an xrp, like an excellent, what you name it. This, even if we look at the top 10 the chances of that more than 10 Xing are very favorable. Right. And in the best interest of any investor, let alone the US government. So that's my thought, Jeff. I just think that they could really purchase a lot and if it, it doubles, triples, quadruples, 10, 15, 20, 100 X's, it's all possible within the next five years to 10 years, right?
Jeff
Yeah. I mean you have to, you know, look at what Micro Strategy has done and some of the other, other companies. Michael Sailor led the way in this identification of adding Bitcoin to a company's treasury. You look at Bukele in El Salvador, added Bitcoin to his national treasury as a strategic reserve up and there should be no difference. If you think from the US perspective, we have to change our view overall on what should go into a reserve. Should it be strictly dollars, should it be, you know, strictly gold? Should gold back everything or should be a basket of product that creates a balance. Right. So if there's ever an issue, you know, we're across the board balancing and touching different aspects of society. And so from a crypto perspective, which is identified cryptocurrencies, obviously important on a global scale, it's recognized on a global scale as a currency. It's moving us in a direction of transparency and efficiency. You can't get rid of the dollar because that maintains sovereignty. You have to change the way the dollar is held, how the dollar is viewed, who controls the dollar. As you'd mentioned, you know, creating a monetary system that's propped up by a third party entity that nobody understands how or why is problematic. And that's where, you know, Trump is addressing those factors. You can't print your currency into oblivion and have it not backed up by anything other than a promissory note, which is basically all it is, which is then backed up by our military power and everything else, and, and productivity. But if we have a massive oil production, oil reserve, gold reserve, which would be precious metals, let's put more things into that crypto reserve, which can't just be Bitcoin, it has to be, it has to be Bitcoin, has to be xrp, it has to be other assets, has to be a basket. And though the smart people will figure out how to leverage the assets based on valuation and quantities up and then that way they have an impact on a global scale and try to leverage it so that we have more of it, so we maintain more power and more value. You know, that's, that's the reserve. So little by little they got to figure that part out. And, you know, and then it puts us in a, in a strength position. Now, if you also, then what Trump is, is doing is then looking focused to the street, which is, how do we put more of this money back into the hands of the people? How do we hold other countries accountable for what's going on? All these countries are developing. Even the fascist dictatorships are developing in some way or form. It's just, they're consolidating money and power to a very few number of people, and they're not letting their people prosper and benefit from it. However, we're seeing countries all over the world that are blossoming and, and benefiting from it. And yet, you know, from the US Perspective, we've offered, you know, favorite nation status to many different countries that allow free trade or imbalanced trade, which gives them the benefit of, of sending their product to us. You look at, you know, when you have countries that are stepping over the line and dumping product on us and then breaching all of our, our trademark and property rights, like China, for example, and then you still let them trade with our country and you don't levy tariffs on them. When they level levy tariffs on our products. You think about the trade imbalances back in, in the 80s and, and 90s with Japan, you know, you, it's amazing because most people don't go back and try to figure out that this same scenario has repeated itself multiple times over. You know, there was a book I, I read once, it was called the Coming War with Japan, and it was really over steel trade. And, and Japan had better production and cheaper production of steel. And they were creating an imbalance in our market because they were dumping steel in our market at a cheaper price point. Japan was, Japan also was bringing in vehicles and products that were more efficient than our products, cheaper than our products. And, and there was, you know, concern at one point in time with Japan, and Japan was buying up real estate. They had all this money, didn't know what to do with it, and they're buying everything in, in big major cities. Now, China's been doing that, right? Except China is a little, they have a little bit of a different agenda. And so, you know, when we look at the overall, we can't allow these countries to continuously take advantage of us while we're consuming all their products. And then we're not leveraging it. So that's, and I look at what Trump is going to do and this factors in. You have to look at all of these things. No one thing is in a vacuum. It's not just the ETFs, not just, you know, the global strategic or the currency strategic strategy, strategic reserves, it's all of these things. So now if Trump can then minimize taxation on the people, why are we penalizing our own people? Why are we making it impossible for people to survive in our own society? And they talk about minimum wage and you have to keep increasing minimum wage, which increases the cost of goods. The products will keep going up, everything keeps going up. Inflation will keep skyrocketing. If you keep buying stuff from overseas and you don't produce it yourselves, the price is going to keep going up. You know, you'll never create. We're creating, we created a vacuum in our country. And it was one thing I learned back in economics, in undergrad even, and it was the donut theory. It's like you have different layers of production. It all starts in manufacturing and you end up getting out into the service industry. The US has become a service oriented society and got rid of manufacturing and then eventually the whole society collapses in on itself. Because if you don't have a base of manufacturing where you're, where you're producing a product and, and Elon Musk just had something said, money has no value. It's the product, goods and services that you supply all together that have the value, right? And it's products. You have to make product, you know, and so, you know, you have to allow that to happen in this country. You have to allow people to benefit from it. You have to allow people to have opportunities to work and spend their money. You have to, you want people to inject money back into the economy. You know, there's all these factors, but you tax people to oblivion and they have no means of production, they have no means of spending. They're living paycheck to paycheck. They're just doing the basics. They're not consuming product, they're not putting money to product produced in the US everyone's looking externally for ways to make stuff cheaper. Over in China, meanwhile, you know, you have countries, they're taking advantage of us. So levy tariffs on them. 25, 50, 100, they tariff us.
Chip
We can't sell our vehicles in Europe.
Jeff
They care all the time, all the time. That why, why is our vehicle sales relatively low as a comparative even in Japan they did that part was the stupidity of our manufacturers here where they tried shipping left hand drive vehicles to Japan and wonder why they didn't buy them, you know, while they drive their right hand drive vehicles over there, pop Quiz.
Chip
Do you. Does your family drive American vehicles?
Jeff
We do, yes.
Chip
Okay. Unfortunately, my family drives Japanese vehicles. So there you are. I drive.
Jeff
These vehicles are made in the U.S. yeah, they're made. Yeah.
Chip
Made in the U.S. north Carolina or South Carolina, I think. Yeah, My vehicles. So is. My wife's. Both made in the US and that's kind of the difference. That's what Trump's looking to change. Look at this. So Matt's saying, when's the Super Bowl? It's next Sunday. I don't watch because I don't care. Most people won't. A lot of people are boycotting. Oh, look at that. Philadelphia's already been penalized for past interference. Look at that. Geez, Jeff, that seems a little bit early. I can't believe that's happened. Oh, and I wanted to show this. Look at Kane. He's on it. He's like, well, seeing as you called me an og, I work out how to get my yeti, my profile. Do you see what yeti he's got.
Jeff
Look at that man. An elder.
Chip
He's got an elder. You got one of the seven elders. There's only seven of those, dude. That is rare. So he has an elder. That is badass right there. Congrats on OG Deserves to have to an elder for sure. No doubt. So there's some other chatter here going on, but we'll get to it in a little bit. The king says powder eggs is the next few. King.
Jeff
I was like, okay, you saying your boy or your eggs sliced into four. 25 a bite. You're welcome.
Chip
There you go. Pretty simple. That's how it works. So just on the. Just some high points of the crypto. The Q4XRP market reports a 280 price movement. Right. Regulatory uncertainty faded. XRP demand soared. Policy shift U. S. Shifts toward a regulatory clarity and banking in the crypto. And here's something that's. I'm not going to look at this whole report, but I just want to just capitalize in this one thing, this one paragraph. The final quarter of 2024 is a turning point for the crypto market, sparking optimism for a new era of growth for the industry, specifically in the US Following President Donald Trump's victory, marketing markets focused on how the Federal Reserve would navigate interest rate cuts, wary of triggering inflation. So there you go. I mean, what a different era we are from a year ago, you know, from the. From the Q4 of 2023. It's remarkably, absolutely 100 different. This is something we wanted to break down. I thought this is a pretty good summarization. This is Austin King. He's a former Rippler. He sold one of his companies to Ripple early on. He's also the comp. The co founder of Omni fdn. So he's an ex Rippler. He just, I think he left recently but he kind of put some, kind of put some thought leadership around this. He's like, you know, most people don't understand the impact of the Ripple USD will have on the XRP ledger. If you think it's just about a stable coin, you're missing the scale of this opportunity by a thousand times. And here's the actual strategy the Ripple's pursuing and the impact it will have on XRP. Ripple USD. Daily volumes are already exceeding $300 million. Additionally, dozens of teams are working with Omni to integrate the Ripple USD into their products. And while it's all exciting, it's really just the team, the tip of the iceberg. So this week Ondo financed announced that they will be launching tokenized treasury bills in the XRP ledger now. So if you've been following me, you might have seen this coming. Now we're starting to see the next stage. Ripple's actual strategy. So Ondo and Ripple together. Step one, prove out tokenization technology by launching Ripple USD. Step two, begin expanding with low risk tokenized assets like treasury bills and the in the low trillions. And then step three, tokenized debt and equities. That's tens of trillions of dollars. Step four, tokenized derivatives and beyond. Hundreds of trillions. And I'm going to add step five, live a good life. Retire and live a good life. Just do whatever the hell you want. So this is what's really going on. This surpasses any Bitcoin. Max, he's a banker's coin. This has nothing. This, this right here, this kind of strategy, you're tens of trillions, hundreds of trillion. It's insane. The, the potential and there's going to be a room for a lot of different people, Jeff.
Jeff
Yeah, And I agree. Yeah. I mean you look at the technology, you look at the power of it. Once we get into tokenized asset and even you know, tokenized like they're looking at treasury bills simp. The, the, the concept of this tokenization, we haven't even scratched the surface of it yet. Right? You tokenize real estate. Great. How simple is it then to move and, and sell your share of that real estate? It should be super easy at that point. If I'm tokenizing it, I own one. 100th of, of a apartment complex, I should be able to go onto the, onto the exchange and I should, and you, you know, and I should be able to list it, right. I usually put it out there just like I'm trading any other fund. If I'm selling XRP or if I'm selling this, you know, XRPL backed or facilitated tokenized asset. And so now all of a sudden I'm selling my 100th of, of this real estate and it just transacts and someone else buys it and, and that I'm, I'm the net benefactor of it. But, but what's interesting based off of that is the automation. So as you're holding that tokenized asset and there's gains, they're paying you profits from, from the overall gain holdings, maybe it's quarterly or annually and if it's treasury bills or it's going to change the fabric of how we function within society. It's cutting out so many middle people, which is amazing because think about how many things within society have multiple hands touching them. I know within my business on its own there's multiple layers and there's multiple people making money off of the process as it goes through. Now if I could cut out some of them and, and our industry a little bit difficult to cut out some of that. But you know, if you look at, if you can cut out the, the legal aspect of it, if you can simplify, create transparency from a payment processing, that would be an immediate. If I can cut out all the fat in the middle of a payment transaction just gone, right? Bank leasing, financing. Why do we need a person involved in it right here? Put your stuff in. Let the AI tell you what it needs. Everything goes into, you have these, these auditors or whatever within banking that are looking at people's paperwork and, and for the most part everything is just very rigid and automated by them anyways. Right. And so if you can figure out and say, you know, there's certain mechanisms to just. Here you go, just go through this product. I don't want to talk to anyone. I want to get someone approved for financing. I want them to buy something. You know, I want, you know, I want the whole process to be transparent. I want it to be fast. If we're working in this space, we haven't even, we haven't even seen the direction that this is going to go, how simple things can happen. And again, all these people are going to be cut out. I, I think there's a lot of redundancies built into our, our Economy that don't need to be there. In some cases we need people. I don't want everything to be sterile either. You know, business is based on relationship. It's based on, you know, long term relationships and human interaction. You know. But if we can get all the noise and we get rid of the noise then we go back to human interaction, which is the way it should be. And that's, that's, I think where we're going to get to with a lot of this stuff. That's what it's going to be. You're muted. Muted.
Chip
I had to clear my throat. It's super exciting. Where we are right now, Ripple is going to bring trillions from traditional finance on xrp. Omni is going to expand those trillions across the rest of the on chain financial system. Because one of the things that Austin King, he was in this interview he was talking about, yeah, here, this is him here. I actually have the video I can pull up in a second. But he's like, this will cement XRP at the center of the entire on chain economy. What is that? What is getting into trillions look like? And then I'll play that video. But a flywheel effect will take place. XRP will tokenize more assets. Omni will expand those assets across the on chain economy, incentivizing more institutions to tokenize assets on xrp. And this is the thousand X opportunity. It's going to happen sooner than you expect. So I'll go ahead and play that video here. Let me go ahead and throw that video up there. Austin King. There we go.
Jeff
Let's listen to Austin.
Chip
Other projects that you're excited about within the crypto ecosystem.
C
Austin, there are a ton out there I'm really excited about. Stablecoins. That's one that I think is offering very concrete financial utility for people across the world. Specifically Ripple's new stablecoin is one that I've been saying are paying very close attention to.
Chip
What about that new stablecoin is on your radar?
C
Yeah, so I sold my first company to Ripple. I've been very involved with that company for a very long time now and I think just throughout the years they've been around since like 2013. So a decade of building relationships with existing financial companies is something that I think is super important when you're trying to drive adoption of these new technologies.
Chip
Anything else for 2025?
C
For 2025 I think the growing, the growth of like real world assets so like treasury bills on chain and tokenized securities I think is a huge area for Growth as well.
Chip
How is the incoming administration expected to impact this space?
C
Honestly, as an American who lives in New York City, building in this industry over the past seven years, it's fantastic. I can see a bunch of other American builders finally excited. Like we are going to get clarity for the. From the regulatory perspective here and that's going to unblock a lot of progress here. There's like very little legitimate, valuable technology being built here.
Chip
Yeah, Jeff, we can't go on one of those shows because you see how succinct and perfect his answers were. She asked him a question answer because like, you know, he was coach. The producer said, okay, listen, you're gonna do this very small segment, you're gonna ask a bunch. These are all the questions we get to. Short, concise answers. That's what you can tell. He was. But. But yeah, Austin King, he's. He's got a lot to. To con to, you know, to add to it. I mean, it's a guy that's been inside a ripple, right? This guy that understands it from the inside. And also I love the fact that he's going multi chain to bring it to xr, you know, pl. It's just phenomenal. So there you go. It's. That's what you're going to get. This is a flywheel type effect. People are missing the point. Share this with your friends. Help them see the bigger picture. He puts a lot of good stuff out there. He's a good dude. I like following him sometimes. He's, you know, I've seen him get a couple things a little bit. I know he got called out for a couple things. Like he was saying, like, you know, the whole. I'm not gonna get into it right now, but anyway. But the guy knows. He worked at Ripple. He's been there. He sold his company Ripple. The guy knows what's up.
Jeff
Panos was that middle name is concise. How we say. Takes us 20 minutes to get to the con. Concise ass part of our.
Chip
Every time I go, I don't know if we have enough to talk about. And then about five minutes and I'm like, oh, we're never gonna get to it. We're not gonna get to everything we have here. There. Wait, it is not possible. Jeff, how's that going to happen? Holy cow.
Jeff
Kelly. There has always been division between the XRP community and the Maxis, especially when XRP gets any kind of positive attention. It's true. But then there's that there are these true believers that you know or these believers that Just are so passionate about XRP replacing the Fed for XRP replacing the dollar or the US government taking, you know, everybody's xrp. I mean it's such like. And you know, we're talking about that earlier. It is interesting to me to see now the functionality, the software, you know, the behind the scenes stuff, can it be utilized, what, you know, what is going to happen with the RL USD, how does that get built into the functionality of trade and what is allowed and what isn't allowed? It's going to be, it's going to be great. Yeah, I just, I just see this direction that things are moving it. As long as we don't see any interruption, things are going to happen very, very quickly. We're gonna have, we have to have some solid bills that are passed though through Congress and then you know, signed into, into law to make these things simplified to allow for some, you know, true, concise understanding of what crypto is in this marketplace. And, and we're starting to see that, you know, we're going to get some executive order through, we're going to get more. The one, you know, the one glowing and very obvious is that we saw an administration previous to this that was ex, extremely anti, they were the antagonist to the crypto, to the crypto, everything basically to growth. Everything, everything that happened in this country you could tell, you know, now even with illegal immigration, if you break law number one, which is our border, don't come in here illegally, you have to wait in line, you have to do it legally. You break law number one. And the previous administration let millions upon millions upon millions of people break the law coming in and then cover it up for them while they were here, allowed them to run ramp. So you gotta, there's so many aspects of society that have to be fixed. But at the, the lining of what we're seeing here is that we also have to have people that are willing to stand on principle. Right? And so one of the, it has to happen every so often, you know.
Chip
Shouldn'T stand on clutter and mental illness.
Jeff
Right? But just to throw this in here at this point of our conversation is kind of important. But we all saw that Gary Gensler is named professor of some nonsense title at mit, right? And we saw this happen. We saw this happen with, you know, with the universities that, you know, wouldn't stop supporting terrorism and things like that or the terrorists overseas and they're letting their mouthpiece run around campus. But here, you know, we see the strength not just amongst the CEOs telling universities hey, if you allow this to fester, we're not hiring any of your people. Forget about it. None of your kids coming out of your law school are getting jobs here, so you can forget about it. Now, the same thing has happened in this case. Gary Gensler, ex. He cost people millions and millions of dollars. He was so detrimental to the economy over the period of time that he was there. The negative impact that he had on companies and individuals shutting down, like a company like Library. We have no idea where Library would have been. What kind of impact could it have had on this marketplace and competing against a YouTube as an example. But now it's gone. Why is it gone? Because of Gary Gensler. Now, you see, the Winklevoss twins came out strong. And this is a big statement because you have people coming out of MIT that could probably add a lot of value to Gemini potentially. Right? And what do they say? They came out and said, listen, as long as MIT has any association with Gary Gensler, Gemini will not hire any graduates from this school, not even interns for our summit intern program. Now, I would like to see more companies come out like Gemini did. Obviously, the Winklevoss twins are extremely outspoken, but I would love to see more companies come out and say, hey, mit. And they need to keep doing that and say, hey, you know what? We're going to blacklist this guy because of the damage he caused in our industry, and it needs to happen. I'm glad that they're taking a stand like that. I think it's really impressive. It's very important. And they've put the, they put the community on notice. We don't need you. And if you go to that school and you know you're going to be penalized as a result of the school's choice. So you might want to consider, if you're at that school, go to a different school and invest your money someplace else. And we're seeing that at Harvard, at Yale, at Columbia and mit. They become kind of clown schools. They're not, you know, I, you know, it's such a shift in dynamics, Chip, of what we're seeing as a, as a whole, as a. On scale. And, you know, these, these companies, it's always been pay to play, right? And I remember hearing that for, for years and years I had friends that went to Harvard and they said the same thing. It's not like they said, it's not that it' more difficult here. It's basically, once you're in, you pay to be here, then the rest is kind of up to you, you have that degree on the wall and you can gain that little bit of leverage because you go to Harvard or Yale or elsewhere.
Chip
Right on. We got blockchain trucker in the house. A legend, puts out legendary videos. You guys already have to be following him on X. But I had the pleasure of meeting him at the proper party at the pre party that was had up there. So it was really great meeting him. And I wouldn't mess with this dude, man. He's a big dude, man. He's. He's a big muscular guy. He's, you know, I don't look up to too many people, but he's. He's a big dude, but a good guy with amazing heart and, and a lot of great perspective. Jeff, you're muted.
Jeff
Yeah, I know. Yeah. It was from the. Yep.
Chip
You were chatting to somebody off screen.
Jeff
Yeah, Just talking about the coffee that I. That I poisoned with the sour milk. So we had an event at the office last weekend. I brought a nice big half gallon fresh, nice organic milk because on Friday people complained there was no milk. And then all the little milk things that you put in your espre in your coffee were all bad. So I brought this nice milk and I kept it in the fridge and I brought a thing. You pour it in a glass. What are those things called? And so we had that out to the side with the coffee picture. Right. Somehow the milk itself sitting in our refrigerator at the office spoiled because I brought it back home because no one uses milk at the office typically.
Chip
And it was poisoned around. Correspondent from Denmark in the house. I love that. Correspondent. Letting us know what's going on, keeping us informed. I like that so much. So Zober was saying about. It's all about utility. Yeah, it was really cool, man. It was really amazing to see in person, man. You know, because I watch your videos, you know, it's like. And I like what. You don't hold back. That's the best part, man. There's no holding back on your videos, which is what we need in this space. Right. And somebody that absolutely understands the space as well. That's also a huge, huge deal. But Zobra is putting up about utilities. So Christine Lagarde, who's the European Central Bank, I don't think they call her the chair or whatever. She runs the European Central Bank. And there was a. And there Mark Smith. We gotta get Mark Smithson on the show because just for the, just for the fun, come in here, hang out with us, sit in. But listen to this right here. She fields a Question Christine Lagarde does from the audience listen what she says here. Completely different topic. Your Czech counterpart yesterday said that his institution will assess including bitcoin into foreign currency reserves. Reserves. And US President Trump has backed the idea of a national strategic Bitcoin reserve. What do you think about such ideas? Is that something the ECB is looking into? Thanks.
D
On this matter that you referred to and whether reserves of central bank should or could include bitcoins. I think there is a view around the table of the Governing Council and most likely the general counsel as well, that reserves have to be liquid, that reserves have to be secure, that they have to be safe, that they should not be plagued by the suspicion of money laundering or other criminal activities. And as a result, I'm confident that reserves will not enter. Sorry, that bitcoins will not enter the reserves of any of the central banks of the General Council. I had a good conversation with my colleague from the Czech Republic and I leave it to him to make whatever announcement he wants to make. But I'm confident that he's convinced, as we all are of the necessity to have liquid secure and safe reserves.
Chip
Liquid safe secure utility. Right, There you go. So calling it out a little bit there saying it's not going to be part of because the Czech Republic was going to announce that they were going to create a strategic Bitcoin reserve, something to that effect. So funny to hear, funny to hear a little bit perspective from, from the European Central bank had Christine Lagarde and here we go. This is Panos.
Jeff
You know, let's see how long that lasts. As soon as the US does it, everyone's well, they'll do.
Chip
But she has talked about a basket of currency. She has made that like maybe it'll be four or five different ones and it should, should be. Panos was saying the fee on the XRP Ripple USD is way too high. I'm very curious why most top LPs are voting for 1%. I guess it would be the lack of understanding. The standard and average fee on AMM pools in the industry is 0.3%. Most centralized exchanges have a point 1% trading fee. So putting anything higher than 0.3% just turns traders away and decreases activity on the XRPL. If you're a top LP because only the top 8 LPS can vote for fees in a pool and then you care about the future of the XRP decentralized exchange, then you should definitely vote for lower fees. We need to have a competitive advantage in the ecosystem, not a predatory trade file like fees well said panels always chiming in. Smart guy knows what he's saying. And I agree with this. Like why would you break from the industry? If if am and pool industry standard is 0.3% why are we talking. Why are they looking at 1%? Like this is just basic stuff here.
Jeff
Too much. Too much.
Chip
Wendy O. Who's who who has come around to XRP recently. She is now kind of turning into her. She's more of a. Not a bitcoin maxi but I'd say more of an Ethereum maxi. But she's open to stuff and she's, she's a big supporter of Trump. She. I like a lot of the stuff she puts out but she's absolutely missing the point on this. So she's commenting on this. The XRP ledger clawback goes live in Boost for Ripple USD trading. Clawback refers to tokens that have a feature allowing the issuer to reclaim tokens from user wallets under certain conditions. She says the XRPL is no longer decentralized. She's completely, she's completely wrong. So thank God for people like Santiago Velez that comes in and says you are technically incorrect. The worst kind of incorrect. This is for the issue just called her out.
Jeff
The worst kind of like you're wrong.
Chip
Not only wrong, but you're the worst kind of wrong. I mean this is for the issuance of specific coins or assets in need of things like chargebacks. Have you ever disputed a payment with your credit card company for a faulty product or service? This enables real world activity like that. This doesn't give anyone the power to seize your XRP or reverse transactions. This is completely participatory for the business and individuals wanting to use that specific function to resolve disputes. This is a technical achievement and decentralized technology. And first of all, XRP has already been issued. This is like. Let's suppose we wanted to issue a badass Yeti coin, right? We could say we would want. We would. From the time of issuance we would actually say that the xrp the, the badass Yeti token would. This clawback feature, right? He is a legend. He's great. I, I repost them all the time. And, and that, that's what he's, that's what he's talking about. Xrp, the, the, the. The XRPL is decentralized. You're, you're. And you're basically turning on a feature if you want to turn the feature on. Right? If you want to have that part of your thing. XRP are issued. It's Never going to affect xrp. The XRPL is decentralized. This is a feature. So he's absolutely right. Set in the best possible way. Of course. A lot of people also, Cookie says, I think she was being sarcastic. He goes, then I feel like a fool.
Jeff
Let's go back to her statement. I don't think she was being sarcastic.
Chip
I don't think she was either. She's not. She's very intelligent, she's very smart. I watched her podcast. She just, you know, I mean, again, you know, sometimes isn't as steeped in the ecosystem. I agree, dumb was harsh, rude, inappropriate. Apologize to Wendy. But you're wrong. Respectively. There you go. So a lot of people, you know, and then so Jose Fajardo says, it'll be absurd, it'll be abused to clawback tokens in a wallet for political reasons. Guaranteed. Santiago's like, no, it's, it's not compulsory.
Jeff
Exactly.
Chip
It's an opt in feature. This is where a lot of people got the claw back. They're like, oh great, so I can buy it from the exchange. They can claw up that. No, that's not what it is. But again, you gotta, you gotta do a little reading, Jeff. You know, there's a lot of.
Jeff
Go back to what she wrote. Go back to what she wrote.
Chip
No longer decentralized. Oh, here you go. There you go.
Jeff
Look at the only thing she put there. And, and this is the important part, which is clawback refers to tokens that have a feature allowing the issuer to reclaim coins from a user wallet under certain conditions. And that there's certain. Then you know, you need to outline what those conditions are, you know, and you really have to get a good understanding of it. And you know, I think her, you know, her premise, but really that's the important part. But nobody goes in and really reads what that means. And it's not just a user, you know, it's. It's all users. It's both sides. It's not just, you know, people think about it from a consumer's perspective, but it's also from the, if you're transferring, you're going to buy a good. You're buying it from a business entity or another individual or whatever it is you're. You built in within that are going to be clawback rights, which is, I've said this a million times, I would rather use a credit card. Then I'll never use a debit card to purchase anything. You know, you put yourself at high risk. You should always use a credit card because of the fact that you have more rights built into the credit card from the credit card issuer, which allows you to call them up and say, hey, you know, I never got my goods. Can you please freeze that charge? Guess what happens. It didn't come out of your pocket yet, right? There's a float. And you call them up and you know, they're like, oh, you got to wait till your next billing statement or whatever it is. Okay, well I'm gonna, I'm gonna issue a charge back or hey, that was fraudulent. I didn't make that charge. Now imagine you're running around using your XRP debit card and there's all sorts of fraudulent charges on it, just like your debit card. Imagine you have fraudulent charges. Guess where those are coming out of your bank account.
Chip
Correct.
Jeff
With credit card. I want that buffer. From a consumer perspective, with all the fraud going on, why would anybody want to use directly use their cash card or their XRP? I use interference.
Chip
Well, I use something called privacy.com, which allows me to connect spin up a credit card. If I buy something, I spin up a credit card and I, and it's hooked up to my bank. It's free because it's paid for. You can use it, but, but you spin up a credit card for a one off type purchase. Or I use a credit. But I don't. Cause I don't like a lot. I don't like putting my credit card in places. If I buy a one off somewhere or if I want to test something out and it automatically opts you into subscription, well, that credit card is only authorized for that purchase. They can never, they can never charge me again. So there's a lot of cool things you can do around privacy.com that allow you to spin up a one use credit card only and then it burns, right? And then it can never be used. And if anything does get compromised, it's done. And it's only allotted. Like, you know, I do the same thing with paying like utility bills. It's only allotted for a certain amount. And I had a scenario where my gym was charging me. They if, if it didn't go a full 30 days minimum 30 days. And they try to build twice and within one time it would reject the fee. And I'm like, why are you guys billing me not after every 30 days? They're like, oh, well, sometimes the bill. I'm like, no, that's because they would call me and oh, there's something wrong with your credit card. No, it's a, it's a, it's a, it's a feature built in so I don't get double charged within a period of time. Right. So it offers all of that. I've been using it for, I don't know, six, eight years, whatever. It's great. I've never had an issue.
Jeff
Yeah, you got to be smart on how you, you know, transact. And then there's other features depending on the credit card you use, like Amex or whatever, you know, and there's, you know, different protections in like your rental car, you got to rent, you need a credit card to rent, but that it automatically hasn't, you know.
Chip
Jeff, can I tell you about how that works? So I had a little minor, you know, a little minor like incident with. With the thing and they said, oh, you charge, you use the American Express. Okay. It's covered. Right. So it's like this is the kind of things where, I mean, they come in handy, you know, I mean, but it's bigger than that Amex, you know, getting into lounges points. There's so many things that people like, oh, you pay a high fee, you get it all back. I mean, if you're going to use the card, you get that back and more. Right. It pays for your fee. But the protections that Jess is talking about. Jim D. Says, I bet Wendy O wish he had now had and now X had a comment clawback for value. Those comments.
Jeff
It's called delete.
Chip
That's good. Yeah, that's.
Jeff
And still delete it.
Chip
Right? That's fantastic. Yeah. And then, you know, there's a lot of, there's a lot of hubbub around Deep Seek. I'm really steeped in AI sell AI. I work with Jenny. I. I mean it's my whole life. I use AI every day, whether it's music, whatever, whether it's, you know, writing stuff, using stuff. I mean I. I'm steeped in that agents. I'm all into AI. Like I could do an AI podcast just there's enough data out there. But Deep Sea came out, it's from China interested in trying out Deep Seq AI says Jeremy Hogan. I read Deep seeks privacy policy so you don't have to the Deep seat privacy poly is policy is you don't have any privacy. None. It can collect anything, all the information you have, share it with almost anyone. But don't worry, all of your info is shared safely somewhere in China where privacy is paramount. So before you ask something embarrassing like is the XRPL really decentralized? Just remember those words will be attached to you forever enjoy. And you know, listen, Jeff, you talked a little bit before about Chinese, you know, China strategy. What do you do? You, you release a model and you say, and you open source it. Now if you take the open source code and you take that code and you take out all the filtering of the CCP that says like, you know, ask about Tiananmen Square and ask about, you know, privacy rights in China. All that stuff that's been, if you remove all that, yes, you can use the model, if you put it on your own computers, but you got to go scrub all the code and then you got to keep up with the updates, which is going to become a major hassle. Yeah, it's open source, but they're dumping it on over here. And do you think the timing was a little bit suspicious after Trump announces that he's going to have spend billions of dollars of infrastructure to create, you know, nuclear power plants to be able to power, you know, AI facilities. And all of a sudden conveniently this gets dropped in the US and everybody's like, oh my gosh. And people are writing code and apps. I'm like, dude, that's just all that I, any intellectual property is gone. I mean, they're like, it's a fantastic bottle. I'm like, well good, enjoy. Because it, it'll log your IP address. It'll look everything you do, everything thing you think about, it's gonna, it's gonna log.
Jeff
So Jeremy, I saw it, it came up on the Play thing. I read an article about it. They didn't connect to a China, went to download it on the, on the Play store. And then I'm like, I gotta look and where this come from? Let me go and look where this came from. I'm like, right away, no. You know, but it popped up the way it popped up. It's like, oh, competing with Chachi tp, whatever, blah, blah, you know, so I wanted to see it. And so I go to. And then that's when I was like, no. And it's crazy, right? China has had a massive campaign to invade our IP over here. Massive. On a scale that nobody realizes, right? Any of these products that we buy, whether they're TVs, whether they're cell phones, whether they're computers, if it's a Chinese product, meaning Chinese company product, there's a high probability that somehow it's, it's IP is being monitored and there's a two way communication going on and they're siphoning data. A company just this past week was caught there a Major manufacturer of patient monitoring that go into hospitals in the US It's a Chinese manufacturer and then there is an off brand from the same manufacturer under a different name. But they were caught this past week. The IP address of these products was, was somehow they blocked it so that the, the outbound traffic wasn't visible. And they discovered that there was outbound traffic and these monitoring devices were pulling data out of the hospital electronic medical record systems and it was pulling data and feeding data back into a Chinese server and they hid it from, from the company. And it was going into a Chinese server on a, on a university campus in China and, and all the monitors were doing it. And this is what you know, we've been saying for a long time, you got to be very cognizant. These are the types of things they're up to, you know, whether it's government related or not. But the one thing that is known is that when a company reaches a certain point in China it no longer is a private company. It then all the government steps in and says okay, we now have a seat at your company. And, and they then have a seat and a controlling interest in making decision, you know, at least directing decisions because if you do something what they want they're going to tell you otherwise. You can keep running the company. They do it. But it's, it's very pervasive.
Chip
Yeah but Jeff, there's so much, there's so much history around this deep seat that I don't buy, I didn't buy when I read it, I'm like, which we, we trained it in two months, cost $6 million.
Jeff
Just fake.
Chip
And, and, and, and of course there was like a leakage of that would run on 500 machines that were running Nvidia, but they weren't, they weren't the AI chips, they were the gaming chips. So you can run this on a gaming computer. First thing Elon Musk came on said I don't buy any of it either. I was like yeah, because I, it's just if it sounds too good, if it smells too good, it just, something isn't right there. I mean I'm not saying it can't be the way they use the model, the shortcuts they took in the LLM that they. And the training data.
Jeff
Yeah.
Chip
And then you have so called experts that were able to, you know, give their professional opinion. And I'm wondering if these professional opinions were paid because it just, it just sounded too much like they dumped in and it's the greatest evolution ever. And you know, I'm not buying it. Sorry, man, it's just not there.
Jeff
Mark is going out to shovel driveways. Good for you, man. And he could be. We could be in his earbuds right now.
Chip
Five bucks a driveway. You can earn some money. Yeah. Come on, dude. Listen to us when you're. Look at this right here. Another, some more. There's just so much winning going on. Jeff Pronouns to be removed from federal employees email signatures Employees across multiple federal departments were ordered to remove preferred pronouns from their email signatures by Friday afternoon following changes as a result of the two gender and diversity equity inclusion executive order signed by President Donald Trump. An internal memo obtained by multiple View sources said Friday. That morning by Jason Bonner, the chief information officer at the Centers for Disease Control and Prevention told employees at the public health agency the pronouns and any other information is not permitted in the policy and must be removed. And of course, John, Senator John Kennedy, who's great with the laughs. And I got, we've got three successive videos here from the hearings from him. Here they are. They, them are now was. Were. There you go. He stole the thunder there. But there it is right there. They, them is now was and were. And like I've always said, my pronouns are. First one begins with F and the second one is you. So there's my pronouns. That's how, that's how. That's how easy it is. But I wanted to play these. Dang. They killed your. That killed it, dude. He said he's ahead of it is over. It killed it killed your fury. It killed me, man. You put it on the screen before I even had a chance to talk. Throw that up there.
Jeff
I did.
Chip
Jeff. Thanks. Jeff Appreciate was a step ahead. Yeah, he's a step. Well, you. Maybe he's got Internet. I don't know. I don't know. I don't know what he has there. Here's the first one here. So here's, here's, here's, here's a couple of John Kennedy during the hearings that.
E
Happened this week to be challenging the status quo. You're going to be called crazy. Many people also called Noah crazy. Then the rains came and all the fact checkers died.
Jeff
The guy behind him look up when he's.
Chip
The fact checkers died. That was amazing. That was great.
Jeff
So let's.
E
And all the fact checkers died.
Chip
Thank, you know, thank God for John Kennedy, man. He is just an absolute delight. I mean, gosh, isn't he something great?
Jeff
If you're not ticking off some people, you're not doing your Job.
Chip
Right.
E
My colleague and friend, Senator Durbin called you a conspiracy theorists. You remember that?
Jeff
I do.
Chip
Senator.
E
You were instrumental in revealing that the Trump Russia election collusion hoax was a hoax, weren't you?
Jeff
Yes, sir. I was a lead investigator.
E
Sounds to me like we need to get some new conspiracy theories because all the old ones turned out to be true.
Jeff
Facts matter, Senator.
E
Yeah, I mean, conspiracy theorists are up something like 37 and nothing.
Jeff
Did you. Did I put the video in there with Kennedy and Grassley?
Chip
I have it. That's the next. That's the next one.
E
Mr. Chairman, before we go to Lee. Mr. Chairman.
Jeff
Yes.
Chip
What do you want?
E
I love this guy. Mr. Chairman. I'm unlike. Senator, tell us. I mean, if we're going to start this, I don't. I want an extra three minutes. Well, now, my friend, Senator Carpenter with three minutes.
Chip
So here, what you're saying is the chairman wasn't a very good chairman by not shutting her up. But I've gone through this before and I think I know how to handle it. And get.
E
I think you're. I think you're a star spangled awesome chairman. I just want to say that for the record, but if you're going to let somebody over there go three minutes over, I want my extra three minutes.
Chip
Well, let's see. Let's see if it's abused by anybody else before we make that decision.
E
I'm just telling you I'm going to abuse it.
Chip
Well, I'm not going to let you abuse. That was like somebody, somebody said they need. These two need to star in the remake of Grumpy Old Men. He said, I think your star spangled awesome. I was like, that was the greatest comment right there.
Jeff
These guys up with stuff. He just, I mean so much. I tell you what.
Chip
Do you want to see what happened behind the scenes of the hearing? Like, what really happened at the hearing? I'm not gonna play the whole thing. I just play a little bit of it.
Jeff
Did you accept money from big pharma? You don't have to answer that. I'll answer that. You want answers? I want the truth. You can't handle that truth. I have a job that only pays 174,000. Who's gonna pay for my free mansions? You? I ain't paying for your fucking mansions, dude. You Tulsi. Oh, fuck no. Did you take the money? Yeah, goddamn right I did. Plus the 8 million from the morons who paid me $27 a piece. What do you have to say for yourself? That you look like the keynote speaker of a finger smelling conviction.
Chip
Ha.
Jeff
Yeah, you're a corrupt piece of.
Chip
Anyway, it gets a little bit vulgar. I'm like, who's, who's making all these, who's making all these crazy memes, man? I mean, really, it's out of the control.
Jeff
The whole thing with Bernie Sanders and, and rfk and RFK just hammering them. They, you know, he was talking about the, the big pharma and he's just like, I don't take money from big pharma. And then finally, and then Bernie Sanders said, well, I don't take it from the CEOs, a big pharma, only from the employees of big pharma. Well, that's how they siphoned all the money to you. And then they keep going back and forth. And then finally at the end, Bernie says, well, it was only, it was only $5 million out of 200 million. And he goes, let's go on to the next question. Like, so you just admitted it. So it's 5 million. He makes it. Now it's. He tries to belittle it. It was only $5 million that he took. Come on.
Chip
Yeah, and then he was, and then he was mad that he. This was the other part that I thought was funny is like, Bernie's like, yeah, you used to be part of this organization and this is the merch they're selling on their, on their, on their, on their website. It was these little onesies, unvaxed, unafraid. So, so Bernie brought this in there about these onesies. I mean, like, dude, what is it? What? These people are unhinged. They're just, they're psychotic. You want to see the sighting of BG123 on the open waters? It's a sighting. Yeah. There's BG right on the top there for new horizons right there, Jeff. I mean, it's, it's going down, man. I. Let's see what else we have here. I want to show this one. Here we go. This is. Here we have a little bit of that, what you were talking about. And by the way, Bernie, you know, the problem of corruption is not just in the federal agencies. It's in Congress too. Almost all the members of this panel are accepting, including yourself, are accepting millions of dollars from the pharmaceutical industry. Oh, no. And protecting their interests. I thought that that would come. No, no, no. I ran for president like you. I got millions and millions of contributions. They did not come from the executives, not one nickel of PAC money from the pharmaceutical. They came from workers. 2020. In 2020 you were the single largest. Because I had pharmaceutical money from workers all over this country. Workers, not a nickel from corporate. With the single largest pharmaceutical dollars. Oh, from workers in 1.5 million. Yeah, out of 200 million. All right, but you have not answered last question.
Jeff
You have not answered my end.
Chip
Well, he puts out. He didn't. He got zero money from pharmaceutical CEOs. Okay, well, that's not what was being said. I got zero money from workers. No, you did. Look at the disclosures there. It's open disclosures. People lied. Imagine we imagine that guy was running for president. I mean, look at the, look at. I mean, there seems like so much mental illness on the left, Jeff. It just seems like it's out of control. It's at a, it's at a pace. I want to play this Trump video here. Trump, here we go. This is a good one right here. This is from the campaign, but I thought it was. Somebody was, was putting her on social. But this is funny. They're not struggling. You know, this is the worst platform.
Jeff
Who put this stage up here?
Chip
This is the worst. The freaking place is falling down.
Jeff
I notice it keeps tilting further left like too many other things. What a crappy contract.
Chip
It keeps tilting left. Who put this thing together? This is. Yeah, Trump. The one thing about Trump is funny. Like so somebody. It was funny because Bill Maher even even referenced this. But on the. Somebody asked them and said, you know, I mean, the horrible disaster, right? Midair collision, Blackhawk helicopter hits a, you know, passenger plane. It goes right into the water. The atomic rate. And, and uh, one of the reporters said, are you going to visit the crash site? He says, the water. What am I gonna do? Go swimming? Like, you know, it's because these people want to get these, get. You got your questions, want to make you look stupid. Oh, Trump said he was going to go visit the wall. I mean, you know, and even Bill Maher said that was dumb. A lot of people do. Well, a lot of people do. I saw see a lot of chatter out there because you know what? But I'll tell you what's going to happen though, Caroline. He's. He's in gonna influence. His influence is coming off. So the leader of the opposition party in Germany. I didn't play the speech. It's all in German subtitles a little bit hard to follow. But I was, but she was basically saying that if she's elected, she's closing the borders and she's getting people out of the country. She's. She's basically deporting People, they're going back to sensible policies. And what does everybody else say? And including Elon Musk that supported them. They're the Nazi party. Because that works so well in the u. S With these goofy lies that. Why wouldn't they use that? Right, Jeff? What? What yet do we have to give away today?
Jeff
So the yeti that we're giving away today is. Drum roll. Is it?
Chip
Hang on.
Jeff
That's not a drum roll. There we go.
Chip
There it goes. Ooh, Good timing there, Jeff. Impressive.
Jeff
Look at that. That guy's pretty bad. He just looks cool. These are cute. I love. I love the ash yetis. Don't confuse them for the fire yetis. Even though they exist in and around the fire. But you can tell the distinction. These guys are always dirty. They're always in and around the ash of the fire.
Chip
Yeah, they can't throw fire. But you see, he looks like he's got a little fire streak going through him. He's probably. There's probably a fire yeti in the background. That's the thing too, is like, they're not they. Because they. They brown, but they don't burn. You see, like, he's like running through fire. They don't. They don't burn. That's why they get all that ashy color.
Jeff
The fire yetis can project out fire, so they're one with the fire. These guys are badass in their own right. You can see kind of good one, Jeff.
Chip
I wish I. You know what? The funny thing is, Jeff and I have zero badass. We don't have. We don't even own one. We have none of them. We just give them all away. So I got none of them.
Jeff
All of them. But these guys are cool. I love these guys.
Chip
Yeah, they're cool as hell. There's 24 guys. I'm gonna give you a little bit. I'm gonna play two more videos, but you got 24 type in yeti if you guys. But right now, you have a 1 in 24 chance of winning. I want to play two videos back to back, and then we're gonna go ahead and do the drawing. Here we go. This woman here, she's talking about, she gives a good sort of a. A good overview of legal versus Illegal immigration. Let's go.
F
The press secretary was asked how many of those illegal immigrants are criminals. She said, all of them. We like, straight up gangster. You heard me. So there's this dude who just want to hate. He's like, it's not criminal. It is civil. So they're all not criminals if they came into the country illegal. So I told him, cool, let me pack my bag right now and go break into your house. And when you wake up in the morning, I'm gonna be baking biscuits. And when you ask me what I'm doing there, I'm gonna say, I broke in. Then when you get ready to call 91 1, I'm gonna take the phone, I'm gonna put it down. I'm gonna say, what you calling 911 for? This is simple. And you're gonna say, I didn't invite you in. You broke in. And I'm gonna say, you treat me like I'm a criminal. And you're gonna say, but you are a criminal. And I'm gonna say, no, I'm not. Let's work this thing out civilly. And as the police dragging me off the jail, I'm gonna holler, no justice, no peace. Yeah, it sounds ignorant, right? Because it is.
Chip
That's the best analogy I've heard in a long time right there. Breaking your house. And then you turn the tables. There you go. I was waiting for the obligatory supportive comment. We haven't had it. And, Jeff, look at this. Look at this short right here. Before the settlers arrived, one woman was chosen to lead her people. She fought for their survival. A legacy written in history. See what that says. 1 1024th Native American. They called her Pocahontas. But was she truly one of them? Pocahontas. The Warren Story. Coming soon in theaters. Yeah. Dr. Clown is the best man. Billy. Oh, my God. That was some. That was so well made, so well done. I gotta love AI. Especially when it's used for those type of purposes. All right, we've got 28 in there, guys. We're gonna go ahead and draw it. You gotta be here to win. You know the drill. You gotta say, I'm here, and I'm getting my. My Zaman wallet. If you don't have a Zaman wallet, and if you're not here, we go on to the next person. You know how it goes. You know the thing.
Jeff
A lot of people here. So how many do we have registered?
Chip
We have 28 registered.
Jeff
Come on. Two more that registered yet with a Zaman wallet. And let's get this number to 30 so we can roll it at 30. How cool would that show on the roll?
Chip
Can we get the show on the road? Let's go. Let's do it.
Jeff
Laurel, do you have you register? Who hasn't registered yet? There we go, 29. We need one more.
Chip
That Warren Video was absolute fire, man. That was great.
Jeff
Did you see the other one?
Chip
Which one?
Jeff
Jeff, did you see the. The video? It came out was on X with the home people and the guests.
Chip
I don't think I saw that one. We. Could you dig it up for tomorrow?
Jeff
I gotta see if I can find it.
Chip
If you can dig it up for tomorrow, we'll use that tomorrow. It'd be great to play.
Jeff
It was so perfect.
Chip
The only DNA she ever got was from a Native American accidentally farting in her general direction. General direction. So now we got 30 guys. We're ready to go. 30. Let's pull it. Ready? Here we go, guys. Remember, you got to say I'm here. I'm getting my wallet, address. If we don't hear from you, we will draw again. You got to be present. Let's go.
Jeff
Hang on. I gotta put it on there. Okay, ready?
Chip
Here we go. We're going. Boom. A yeti. There you go. Matt Laroche is present. Matt, you gotta say, I'm here. Getting my wallet.
Jeff
It's gotta say, I'm here. And that's it.
Chip
This comment here, so I know there's a little bit of a delay. I think there's like a 15, 18 second delay from the comments, but you gotta. He probably jumped off right after that comment. He's gone.
Jeff
He's gone. He's out someplace else.
Chip
Hear from you.
Jeff
Is he here?
Chip
Boom. He said boom. Right there. Yeah, he's there. All right. Get your wallet, dude, and we will. Congratulations to you. That is awesome.
Jeff
Now I can't find it. I was doing something. I meant to grab it. It was the greatest thing. It was kind of like the. The dolls from. What was that movie? America. Yeah, what was that movie?
Chip
Which one you thinking about, Jeff?
Jeff
You know, the movie. Why can't I think of the name of the movie?
Chip
I don't know. What's. What's. What's the premise?
Jeff
Yeah, you know. You know the song.
Chip
Let's see what you're talking about.
Jeff
Someone knows it. Someone's gonna say, I know that movie.
Chip
What was the song?
Jeff
I'll tell you. I'm trying to find the who's in the movie. It was all dolls. You know what I'm talking about.
Chip
I have no idea what you're talking about, Jeff. No clues.
Jeff
Someone knows what I'm talking about. I'm trying to find the video.
Chip
Chucky. Was it Chucky?
Jeff
Can't believe I didn't grab it. It was so great with the home people and the visitors.
Chip
No, man, I missed that one. Drink more coffee. Absolutely. 100 Team America. That's what it was. It was the. Yes, it was the. Yeah, it was the puppet one with the guys from south park made it. Right.
Jeff
Team America video that came out that was similar to that.
Chip
Okay. He gave his wallet. You got it, Jeff?
Jeff
No, I do not have it. I gotta go on YouTube and find it.
Chip
Go on there and grab it. While we're doing that, I'm gonna put this video. You know, Trump signed an executive order banning all transgenders from the military. And this guy had a good take on why I'm just signing executive order.
G
Banning transgender people from the military. Let me tell you what this means. First of all, number one, and this is what a lot of people don't realize. There are upwards of 15,000 trans people that are serving, quote, unquote, in the United States military right now. The first thing that I'm going to tell you is that all of these people are non deployable. What that means is that if you are a transgender identified person that is, quote, unquote, serving in the United States military right now, you are non combat deployable. So these people cannot deploy to combat theaters. When the United States is involved in any sort of conflict overseas. Transgender people literally cannot be deployed. What this means is that you've got a lot of people that are sucking up taxpayer funds sitting in an office somewhere, maybe they're doing pack clerk work, et cetera, but they are non combat deployable. This does not bode well for Pete Hegseth's mission of a lethal military. The second thing is that the vast majority of transgender people, when they separate from the United States military, do so by medically separating. This means that they are at 80 to 100% disability. And so now what that means is that they are on the taxpayers. They're on the hook. Taxpayers on the hook, excuse me, for two to three hundred thousand dollars per year annually of quote, unquote, transgender health care, which is also covered by the va. So every single transgender person that separates from the military via medical discharge is covered by the VA for their hormones or their test, like whatever it is that the trans person is on that is covered by the VA because they are medically separated. This costs American taxpayers to the tune upwards of six figures per person. All right? Third of all gender dysphoria is a documented mental illness, which means that we have these people that are not only non combat.
Chip
Well, I got to give the whole thing, but I mean, the reason they're not deployable is because they're on hormones you can't take hormones into a combat zone. Right? And the only reason. The only reason I'm keeping them to maybe, you know, have the deeper voice or have. Be more feminine is the massive amounts of hormones they have to take to be there. And so people thought this is a cruel thing. And it's not a cruel thing. It's just a base. It's a bait. It comes down to, you know, you have a military where people are deployable. You have to be able to deploy. And so you have people that are different and they're going to get different treatment, special treatment, and never go to combat zones. And then they will live off, you know, with their. With their. You know, with their. With the va, The Veterans Administration for the health care. So he. I thought he gave a very good take. It's a little bit longer than that, but a really good take on why people are like, oh, it's. I can't believe you're. You're anti this. No, no. You go to the military to be deployable to a combat zone. If you're not deployable, you can't be in the military. It's as simple as that. It's not about being discriminatory.
Jeff
That's right, Chip. Matt is now the proud owner of a badass.
Chip
Eddie dude, he's building an army. He's already got a bunch. He's. And as you saw over there, he's already got in his.
Jeff
That now belongs to Matt. That's your ash Yeti.
Chip
See that right there? He's got that guy right there. Look at that.
Jeff
And he had a menalist. Now you got the ash Yeti. So now you've got one from the blue tribe, one from the white tribe, and the white tribe and blue tribe, you know, they get along, you know, because the. Got the. The blue tribe, they're like the standard. They're kind of like the republic, right? They. They're not, you know, they don't follow. They don't have elders. They work in a different way and more like, you know, operating on our decentralized system. The white tribe operate under the elders. They have seven elders, and they have support mechanism. They have to carry tribal lore and things like that. And the blue tribe operate a little different. The mentalist, those. Those guys are pretty badass, too. So a lot of times the different tribes come into conflict, different clans within the tribe, and that clan is the ash Yeti clan right there. That's what you just got. Ash Yeti. Boom. You can have conflict in your wallet. Maybe you can get them to get along.
Chip
Well, listen, Jeff, I mean, we had a great time. Went over when I did an hour 23 today. I got an appointment that I got to run to, but rigged. Oh, come on, Zobert, stop it. It's an automated thing that's built into the platform. We have no idea how it works, but that's it. I mean, the people who come here often will get rewarded and sometimes there are repeat winners, but again, it's just luck of the draw. That's how it works. Mike says f that they should be the first ones deployed. XRP Community Day. Any comments on it? We played it. We played some stuff during the week. I thought it was. I think it's great that Ripple's getting out there and kind of going into the different, you know, APEC region, North America, you know, emea like, I thought. I thought it was great. I like that they're out there communicating with the community again. I think that. I think they're well done. A lot of. I thought there were some good things where we shared some of Brad Garlinghouse's comments. I saw some. A lot of good comments coming from David Schwartz. I think the involvement with the community is really a great idea. I'd love to see more of it. And I think ultimately, just having real people answer, people from the community who aren't on a podcast, who aren't just regular people that have been supporters for, you know, and they want to hear what extra, you know, what's up with Ripple or Ripple's take on XRP or the rlusd. I thought it was very well done and I didn't get to listen to all of it. I saw a lot of snippets. People pulled out the better parts because I just don't have four or five hours to listen to solid stuff. And I mean, Jeff and I have show prep we do for this show. And, you know, it's only so much. And then time it takes to do the shows. There's only so much time in a week that you can do, but. But I think it's a great idea.
Jeff
Oh, maybe we might do. Which would be kind of cool. Start taking a poll. You know, we've talked about doing one of those X things to bring community members up to talk with each other. You know, we got to do something like that in the future. We'll do a poll and see if people are down with that. And maybe a lot of people here in our own community just like sitting around and listening and chatting this way. But it'd Be cool to bring some of these people up on stage and let you know and have a good conversation with everybody that we have here with such great followers and supporters.
Chip
I love that idea. And you can come in anonymously where you just show your name. You don't have to be on camera, but we can basically throw that in that want to come on. We'll do a community day where we just have our own xrp, you know, our own OTC community day. And we'll have people come in, share a little bit, you know, and again, it's just volunteer and. And if you want to show your face, you can. If you don't, you can just be a. You can just be a voice on the other side. So we've been trying to get Jim D. On this forever so you can share all his insights.
Jeff
And, you know, it's interesting as we wrap this up and we look at conspiratorial things, and eventually a lot of it comes out to be true. This is very interesting, you know, to see what just happened with the helicopter and the FAA person. And just a week or two ago, they were talking about how they were flying a Blackhawk remotely with nobody in it. And, you know, now all of a sudden this happens, and there was a near miss a week ago or the day before, you know, similar kind of scenario. Something is a miss. Could it be just coincidental that accidents are accidents, you know, inefficiencies are inefficiencies. And then we have a plane crash the following day where a jet falls out of the sky in Philly.
Chip
Did you see how. Did you see how violently. Like, that almost looked like a missile, the way it was traveling. It was crazy.
Jeff
Came down so fast. At the angle it came down, maybe the. The engines just died out and. But the lights were still on, obviously, because you could. It looked like a missile.
Chip
But what was weird about. But what was weird about it. It was assessed that. But that was weird. Is that even like a plane that loses its thing wouldn't dive like that. You know, they can still glide. Yeah, like something bad happened. I mean, something went wrong. Even if they have enough momentum and the engine quits, they get a little bit of. They can. Where they do a little bit of. A little bit of glide. They won't have the thrust, but that thing was moving. It was almost like somebody turned the engines and turned it down and just put it on full, full force. I mean, and it was sad because it was a. It was a. An ambulance plane which probably had a young child on it with their. One of their parents and then some other people. So it's just a sad thing. And seeing this back to back, you know, I don't know, sometimes, I mean, it just seems a little too timing wise. Seems a little bit mysterious that we'd see something like that, but who knows? Appreciate you guys. Appreciate you guys. Yeah. Thank you for. Thank you for rocking on the coffee man. Hit the likes. Guys, before you get out of here, if you're still here, please hit the like button. It does help the machine. Caroline says something's not right with the crash. Too steep. Has Pentagon vibes. It was a missile. Seems weird. Yeah. Something doesn't seem right there at all. Something's off. A necessary coincidence.
Jeff
The same healer went after three others.
Chip
Yep.
Jeff
It's just really bizarre. He's the pilot of the aircraft was.
Chip
Going to land on that. That plane was going to land on a different Runway. And then it's. They made him go to a different Runway and circle back around to the other Runway. It did a whole thing where it circled back, go back to an alternate Runway. If it had landed on another Runway, would this have happened? You know? And it's. It's just. It's a sad thing all the way around, but it's.
Jeff
We saw a Trump.
Chip
I fly a lot, Jeff. You fly a lot.
Jeff
Too high. It was flying too high. It goes. Enough said.
Chip
Supposed to be under 200ft, right? That was flying too high. Once you lock on an approach, once you're coming in, a lot of that stuff is almost automatic until you. Until you get really close, so you lock in an approach and as that's coming down, people are like, it should have seen it. But then you're like, you listen to the. To the air traffic controller and like, do you see the plane? Hello. Dude. And there was another one where they're trying to contact the plane. There was no response. It's just too much weird stuff going on here. Then there. Then everyone, the left is blaming Trump, saying, you fired all the air traffic controllers. No, that was Reagan. No, he did not fire all the air traffic. By the way, Jeff, one time I, when I worked in Oregon, I said something, something, something about Reagan. Do you like Reagan? I go, I go, you know what's crazy? That. Remember that time he fired all the air traffic controllers? And the guy goes, yeah, I remember. I was an air traffic controller at the time. I was like, oh, poorly timed. Oops. So, all right, everybody, we'll see you people on the next one. Chip and Jeff, holy cow. We're out, but I can't even find the damn button. Dude, where is all this stuff?
Jeff
For the next three hours, Chip winds he out. Don't wear out.
Chip
Here we go. Ready? Here he goes. Ready, Chip. And jab. Oh.
Jeff
Are you down with otc? Please, like, subscribe and click the bell.
Chip
To be notified when the next video drops.
Podcast Summary: 🚨 XRP’s Historic Q4: RLUSD Boom, $1B Trading, & ETP Explosion! 🚀
Podcast Information:
In the February 1, 2025 episode of On The Chain, hosts Jeff and Chip delve into the remarkable developments surrounding XRP's performance in Q4 2024. The episode highlights significant growth in various facets of the XRP ecosystem, including the RLUSD boom, billion-dollar trading volumes, and an explosion of Exchange-Traded Products (ETPs). Additionally, the hosts engage with their global community, acknowledging early listeners from various regions and teasing upcoming events and giveaways.
Chip introduces the episode by emphasizing the historic nature of XRP's fourth quarter:
Chip [00:03]: "XRP's historic Q4. We're going to go over that. We're going to talk about the RL USD boom..."
Ripple Market Reports: Ripple CEO Brad Garlinghouse announced that Q4 2024 would be a transformative period for XRP, underscored by significant institutional activities and market dynamics.
The hosts discuss the burgeoning interest in XRP ETPs:
Chip [02:28]: "Now they're gathering...it's a lot of ETPs."
Ripple has seen nine filings for XRP-related ETPs, a notable increase that positions XRP as a competitive asset in traditional financial markets. The involvement of major players like Grayscale, which is transitioning its XRP Trust into an official ETF, further solidifies XRP's standing.
Ripple's stablecoin, RLUSD, has rapidly grown in adoption and market capitalization:
Chip [07:21]: "RL USD, which Jeff and I are going to get into a little bit. But that launched, right?"
RLUSD hit the $100 million market cap milestone within a month of its launch, indicating strong demand and integration within the XRP ecosystem. This growth is pivotal for XRP's utility and adoption across various financial products.
The XRPL decentralized exchange marked a significant milestone with $1 billion in trading volume during Q4 2024:
Chip [34:04]: "The XRPL decentralized exchange trading volume reached 1 billion in Q4."
This achievement underscores the XRPL's growing role in facilitating large-scale, decentralized trading, making XRP a central player in the decentralized finance (DeFi) space.
Jeff provides a forward-looking perspective on the developments:
Jeff [09:12]: "Everything is gearing up...we're moving towards more institutional and regulatory clarity."
He anticipates that the convergence of ETP growth, stablecoin adoption, and decentralized trading will create a robust foundation for XRP, potentially leading to significant price appreciation and broader market acceptance.
The episode features interactions with the global On The Chain community, highlighting listeners from various regions, including Slovakia, Colorado, the UK, Australia, Florida, and Denmark. The hosts discuss upcoming events, such as a summit in Florida, and emphasize the importance of community-driven initiatives.
The episode concludes with reflections on the rapid advancements within the XRP ecosystem and its implications for the broader cryptocurrency market. Jeff and Chip express optimism about XRP's trajectory, emphasizing the importance of regulatory clarity, institutional support, and community engagement in driving future growth. Additionally, they highlight the potential of tokenization and decentralized finance in reshaping traditional financial systems.
Follow On The Chain:
Upcoming Events:
This episode of On The Chain provides an in-depth analysis of XRP's significant fourth-quarter performance, highlighting key growth areas and future prospects. For listeners looking to stay informed about the latest in cryptocurrency and blockchain, particularly regarding XRP, this episode offers valuable insights and comprehensive coverage of current trends and developments.