← On The Chain - Blockchain and Cryptocurrency News + Opinion
On The Chain - Blockchain and Cryptocurrency News + Opinion
Ripple Case BOMBSHELL: Judge Torres Just Shook Up the Settlement!
01:24:02
Loading summary
Transcript282 lines
- [00:02]
Jeff
Hey. Welcome to on the Chain. This is Jeff. Some technical glitches as usual, as per the course. Welcome to on the Chain. Today's show, we are going to dig in. Why? Because there was a bomb show that was just dropped on the Ripple case. On the secv. Ripple case. Something just happened. Judge Taurus just shook up the settlement. And so we got to get into that. We want to workshop this a little bit. Just so many things going on, and just when you think it's over, guess what? It's not. So in today's live stream, we're going to break down the latest procedural twist in that Ripple v. SEC saga. Man, just when he thought it was over, I honestly thought we put all this behind us. No more discussion on this case. Judge Torres has denied the motion for the settlement. And so it's, it's interesting as these voices come together. So we're going to get in and, and review some of the top legal voices who are weighing in. We're going to take go over some of the takeaways from Stu Aldarati. And then Eleanor Terry had some really great coverage as well, going through and interviewing a few key attorneys. What we'll go. We'll kind of break it down as we go through. And what does this mean for XRP holders moving forward? Case just doesn't end. It is really, really amazing. And yet here we are. So gonna dig in. If you guys are ready, we're gonna kick this thing off here in one second. One second. Here we go. Ready? Let's go. Welcome to On. And for this, I think we need to go a little bit harder. How about this one? Let's go. Let's dig into this. Give a quick shout out to where you guys are tuning in from. It'll be really cool to see where everybody's tuning in from. From coast to coast, from country to country. We've got Belgium here. I know that for a fact. So we'll go in. What is Chad commenting on here? Judge Tour said, hey, sec, waste five years of my time. Here's some flaming hoops you need to jump through. That's it, man. It's just. It's crazy. Just when you thought it's over. Before we get into that, though, let's go check out some of the things that were going on over at the Dubai fintech. Why? Because we got, let's see, Reese Merrick, who's the senior executive offer executive officer, managing director, Middle east and Africa over at Ripple. And so he was interviewed on Web3TV. So I'm gonna pull that up, we're gonna play that, we're gonna go through, we'll go into some of the cool stuff first and then we'll dig into the, the court case. So do some of the fun first, see what's going on over there at the FinTech over in Dubai. So hang on a second, here we go, let's play this.
- [03:27]
Lisa Amdegaard
Hello Web3TV. I'm Lisa Amdegaard and today we're at the Dubai Fintech Summit 2025. And joining me right now is Rhys Merrick, Managing Director for the Middle east and Africa for Ripple. So thank you so much for joining me today.
- [03:39]
Rhys Merrick
You're welcome. Great to be here.
- [03:40]
Lisa Amdegaard
And how's your day so far?
- [03:41]
Rhys Merrick
Awesome. Look, I think it's our third year at Dubai FinTech Summit. I think the energy is high, there's tons of people already and we're really busy. So yeah, very hopeful. It's going to be a great event.
- [03:51]
Lisa Amdegaard
And Ripple has been very busy in the last year. So can you tell me a little bit what's happening there and what's new?
- [03:57]
Rhys Merrick
Absolutely. So Ripple primarily known for our cross border payment which utilizes XRP and XRP ledger to move value in real time. But we've since become, I would say a digital asset and blockchain infrastructure provider. So we offer custody solutions to large FIs and enterprise customers. We've also recently announced that we have launched our rlusd which is a USD backed stablecoin as well. So plenty going on at Ripple definitely.
- [04:22]
Lisa Amdegaard
And I know that you just received your DFSA license for the uae. So can you tell me a little bit what does that mean for Ripple?
- [04:30]
Rhys Merrick
This is huge. Ripple were the first blockchain enabled payment solution provider to get license fully approved from the dfsa. So what that means is we can serve entities in the region. So that's FIs payment service providers, large enterprise customers with our cross border payment solution. You know today we've done over 35 million transactions, over $70 billion worth of volume. So you know, we're very optimistic on the growth that we'll see here in the region.
- [04:57]
Lisa Amdegaard
Definitely. And when it comes to cross border payments and blockchain enabled finance, Ripple has been at the forefront of this. So what kind of role do you see that having in let's say traditional finance?
- [05:09]
Jeff
So this is, this is really getting into and I think some really good questions because now we're seeing what, you know, where blockchain, Fintech, you know, all these things are coming together on a global stage, you know, really making some big Impacts on traditional financial infrastructure. We've talked about it for a long time obviously, but now I believe it's really starting to resonate at a much higher level. We're starting to see, obviously it's a fintech event. However, we're seeing financial institutions all over the world that are coming to the table now because they realize this is it, you know, so let's see where, where we're at here, what he's, how we respond going forward.
- [05:56]
Rhys Merrick
I think there's, there's definitely a convergence between DEFI and TRADFI that we've certainly seen over the last 12, 18 months. And I really think that's come from regulation. Regulation is allowing large financial institutions to basically offer digital asset solutions, whether that's through tokenization with that, through allowing them to buy, sell, hold crypto for their consumers. And as a result Ripple are, you know, at the forefront of that to be able to facilitate the services that they want to be able to get involved with.
- [06:24]
Lisa Amdegaard
Definitely. And also the DFSA has been sort of driving growth and innovation. So how has that helped Ripple in innovation and what kind of plans do you have for the uae?
- [06:34]
Rhys Merrick
Look, Ripple are a global entity, but we want to, we want to be able to operate in jurisdictions where there is firstly regulation and be, you know, support from the top down. And you get that in the Middle east, you get that in Dubai with the DFSA and other regulators in the region, which is phenomenal.
- [06:50]
Jeff
So another, you know, really big point regarding regulation, regulatory clarity, some of the things that have been holding FinTech back. Obviously now one of the big movements I believe that we're seeing with Ripple is a departure from the XRP asset, still utilizing the ledger, still, you know, focusing in on fast movement. However, now with the RL USD moving financial, global financial institutions over to the platform a lot easier when they are moving and transacting up front. Like from their perspective, the front asset that they're using will be a stable coin, dollar to dollar. And you know, I think it's easier for them also from a calculation perspective, especially given, you know, the situations. Now from a regulatory perspective, even if they're utilizing XRP on the back end to move money, what is the impact of moving money in and out of xrp, even if it's a fractional change in valuation, what does that mean for the financial institution? You know, given that there's potentially a realized gain or loss potential, you know, potentially if you're directly using xrp, if the XRP is being used in the back end of the technology to provide liquidity and move money. And it's a third party that's facilitating. And yet, you know, financial institution A is moving to B. There's still a transaction element in the middle. So now if they look at it, they almost don't even need a third party to transact because if as long as they can move it through the solution, they say, hey, I'm holding a million dollars of RL USD. I'll send you a million dollars of RL USD. And if Ripple is now the bridge, that's it. You know, that's, that's, there's not a lot more from the direct movement now. You know, when the financial institutions start look at all the D5 components that can be built in and around it. The significance, the importance of the smart contracts and, and everything else that has to be orchestrated when we're going to start seeing the inner workings. Hopefully, you know, with, with flare and some of the other platforms that are going to help medium and small size business to also expand into the space. Because right now the hyper focus and has been for a while is all a, a big financial institution. What about small business and medium sized business? Because that's where there's also a massive real life glitch in the system that really needs some, some direct resolution. Yep. Because small business, medium sized business is what makes the world go around. It's not all just big financial institutions. So you know, we definitely need to, you know, see some movement and some more development in that direction. So. All right, let's. This is, what is this one? This from an article over here on Coindesk. Let me. Hang on. This is uh, Portnoy. Hang on. What is this interview here? Because this is going to be. Let's see what this is all about. Let me get this expanded. So this is. Why does still president own xrp. This is going to be interesting. Let's bring this back up to light. Here we go. All right.
- [10:43]
Chip
I remember I was trying to buy an apartment in Miami and I got outbid by a crypto bro and I'm just like that. That bastard. Yeah, he just bought thought you know, he heard about bitcoin when it was, I don't know, eight bucks, seven bucks, it's up by 100. I've slayed for 20 years and he just outbid. So yes, there's a hundred percent of FOMO on everything. I think that's the meme coin. That's general. I mean I, I don't know Bitcoin, I don't know if there's as much FOMO now, it's so established, but like, that's why I'm an xrp like that, that it's fomo. It's not like I have some grand belief in it, but it, it, it's what, 2 bucks 40 cents or something like that. It's like, what if that's the next bitcoin? So FOMO I think, plays a huge part.
- [11:26]
Jeff
I already is real, definitely department in Miami. FOMO is definitely real, you know, and so, you know, that's an interesting point. You know, and I look across the board. Obviously that's why people are getting into meme coins and things like that, because the FOMO is for real. All right, let's, let's, let's start, let's dig in here into the court case. Hang on one second. Trying to stack everything up. I got to get rid of this one. Hang on one minute. Get rid of Portnoy, bring this one over here. We'll get into some Stu Alderati, then he's going to talk about some of the changes of what just transpired. We have multiple posts as. And we'll kind of go down and Stu Alderati, I think, had, you know, some very key, significant statements to make specifically in and around what just transpired. And, and so we need to, I'm just trying to open up. No, it's the same exact post. Why do we have that one duplicated? Here's Eleanor Terrett just making sure I have the right articles to, to review. So, okay, let's bring this one up and let's get into this one. So Stu Alderati is going to comment here on James Filan's comment as well. So let's start right from the top, you know, first and foremost as he makes his comment. And we have to go back to the original, you know, outcome of the court case, which was XRP was deemed a non security. All right, so Stu Aldarati says no, you know, first and foremost, nothing in today's orders in today's order changes Ripple's win, I. E. XRP is not a security, etc, because that was already settled. It was already in the case. That's what Judge Torres had originally come out in her decision. This is about procedural concerns with the dismissal of Ripple's cross appeal because now we had, you know, cross appeals going on. Ripple and the SEC are fully in agreement to resolve this case and we'll revisit this issue with the court together. So. But now Judge Torres basically making them go back and do Even more homework on it. But James Filan is basically saying judge Taurus has denied the party's motion for an indicative ruling. If jurisdictions, if jurisdiction were restored to this court, the court would deny the party's motion as procedurally improper. So obviously there was something going on. And she's saying, hey, there's an issue, and we're kicking this back and, you know, there's. And you guys got to sort it out. But it's an interesting statement. It does seem like it's more delayed the Versus, you know, let's just come right out and, you know, here's, here's our, you know, let's, let's just get this thing. Let's just get this thing done. But I like how, you know, Stuart is very succinct and very quick to come out and say, listen, still doesn't change anything. Let's, so let's, let's calm down and let's get, get focused. So let me get over here. So Eleanor Terrett, you know, had some interesting, you know, take on it as well, mainly because she went and interviewed, you know, multiple different legal sources to get some commentary. And she's also commenting on James filing here as well. So if we look through what Eleanor. And she talked to John Deaton. So here, after speaking with three legal sort, I guess she tuned into John Deaton's live analysis. After speaking with three legal sources and tuning into John Deaton's live analysis, my reading this, Eleanor Teret, is that Judge Torres is playing hardball. She's not making it. She's not making it easy for the parties to simply walk away. Instead, she'll make them work for it. So it's an interesting, you know, commentary that, hey, we can't just end this thing. Guys have only been at it for four or five years. So how about, you know, let's go another six months. Deaton raises a valid point from Torres perspective. The SEC has spent the past five years doubling down on a narrative and legal strategy that resulted in thousands of hours of legal and judicial manpower, only for the agency to suggest that those five years were essentially a waste. And that's, that's on that. You know, it's just really unfathomable, you know, also considering that we have doge and we have, you know, scrutiny on every last dollar and dime that's being misappropriated or misused within government. So that audit's taking place. What about the misuse of judicial manpower? Especially in a case like this where you see, you know, Gary Gener obviously Had, you know, a specific mission, whether it was his own or if it was orchestrated through specific senators that we've all spoken about. But there was obviously an objective for him to crush the crypto space. So was that a misuse of judicial manpower? Was that a misuse of millions and millions and millions of dollars, of taxpayer. Taxpayer dollars? So here we have. While Taurus has denied their. Their initial request, she outlined a clear path forward, provided the SEC and Ripple can meet the legal standards and present a compelling case that withdrawing her ruling is in the best interest of the public and institutional buyers of xrp. So this is going to be. Yeah, it's gonna. You know, it's kind of crazy. I like. You got King Christopher saying it's all a show. Just wake up. So, yeah, it. The timing of it is really, really interesting. You know, the timing, the delay. You know, we have tons and tons of winning going on right now. And why delay it now? Why, you know, why is she all of a sudden saying after there was already agreement, it was already getting ready, you know, to move into a positive space? And then. Here you go. So Stu Alder mentioned Ripple will work with the SEC to revisit the issue together. Pretty wild, considering they've been on opposite sides for nearly five years. But also consider that we have a completely different SEC at this point. New administration, new everything. That new objective, new focus. Pro pro crypto, pro Bitcoin, pro xrp. It's a whole different initiative, a whole different agenda. And so even the discussion point. And so it might not be a bad thing to say, hey, under. New administration, new sec, let's come together, work through this together, and also, you know, find a positive outcome on the other side, because whatever they finalize and agree to can also be used as court case precedent as. As we move through this navigating of regulatory clarity. So. Oh, it'll. It'll be even more interesting to see if Torres eases up once they've done the necessary work or if she sticks to her guns and makes this more of a political fight. So there you go. It could be very, you know, political again. You know who just mentioned it up here that Andy was saying, hey, big shocker. T was appointed by Obama, so welcome. Chip. Chip.
- [19:40]
Chip
Got Jeff, but stuck in traffic getting.
- [19:44]
Jeff
Ready to wrap up the show.
- [19:47]
Chip
We. I think you just started it, so. I'm good. I'm in good shape.
- [19:50]
Jeff
Yeah, about eight minutes ago.
- [19:52]
Chip
Sorry. Yeah, it's good.
- [19:55]
Jeff
Welcome, welcome, welcome.
- [19:56]
Chip
Welcome, everybody. Yeah.
- [20:01]
Jeff
There you go.
- [20:01]
Chip
Time.
- [20:03]
Jeff
I'm always forgetting. It's Pepsi To Coke. There's a lot of that, man. All sorts of crazy things going on right now. So that is, that, that was kind of, it's interesting, you know, Chip, just the whole timing of this, you know, why, why now? What exactly is the objective? Why, why delay it further? And is it a net positive? As I was saying, just as you came in, we have a brand new SEC coming together with Ripple which could also, you know, assess and, and anything they decide on will go down into judicial books or into law books and can set precedent, case precedent and negotiation and settlement precedent for anything that happens in the crypto space. So any move at this point could also have an impact on regulatory clarity, on anything that they're trying to achieve. You know, they'll say, hey, well look at how they settled this. Look at what happened. Therefore let's do xyz. So I, I don't know if it's a, if it's a negative positive. I think it's somewhere in the middle that it just keeps dragging on instead of being done. ETX small business said Jeff. If Ripple can't sell and only retail is liquidity and the ETF approves before institutional clarity, wouldn't that cause Shane Willis theory to occur on the Central Centralized Exchange? 30 minute aim and 11 days for BTC ETF. That's pretty deep. You remember Shane Willis? Shane Willis had a super in depth.
- [21:38]
Chip
Shane Willis. Or is it something else? Was it.
- [21:41]
Jeff
No, it's Ellis, wasn't it?
- [21:42]
Chip
Shane Ellis?
- [21:43]
Jeff
Shane Ellis, yeah.
- [21:44]
Chip
Who's Shane Willis? I don't know who that is.
- [21:47]
Jeff
Shane Ellis. Let me see if I can find that.
- [21:53]
Chip
Shane Ellis, yeah. Shane Ellis theory. Well, this is actually very simple. There's nothing really, there's nothing complicated about this at all. It's, it's, it's. You know what Deaton talked about in his, in his, he did a, he did a live stream the day that it was denied and it's. Right, it's what? It's Freddie Raspoli's saying here. It's the fact that the meeting, the parties didn't require request the relief under the right rule of civil procedure. They basically took a shortcut. Say, okay, let's get together, let's take a shortcut, let's just file it. And the judge called them on it and they sold. They have to refile under the correct rule. Yeah, this is Freddie saying me reading between the lines. Ripple and SEC need to get on, you know, all fours and beg for a leaf also too. The fact is, is like Deaton said, the Same thing about the idea of them wasting five years of the court's time tying up all kinds of resources, energy. You know, it doesn't matter what kind of SEC it is today. You still got to follow the law. You still got to follow the right procedural correct under the correct rule. So this is the judge being very, you know, just calling it to the books the way it should be. And again, you know, they're not going to let them off the hook pretty. That easily, you know, and I don't know. Did you put Stu Alderati's post up there?
- [23:09]
Jeff
Yeah, I've already covered that.
- [23:10]
Chip
Yeah. It's easy. It's. There's not. There's not a. There's not a big.
- [23:12]
Jeff
That was pretty straightforward.
- [23:14]
Chip
Pretty straightforward. You know, it's not a big thing. And. And everybody flipping out over this. I had to go back and forth with. With some people yesterday, and I was like, okay, man. At some point, you just got to say, like, okay, you're just not. You're not in the right headspace to understand that's okay. And you can't argue with people. People, like, it's not a win. It's not this. It's not that ripple is denied. I'm like, it is none of that. Nobody cares. And the bottom line is.
- [23:37]
Jeff
Andy brings up a good point, though. It's hard to imagine all the lawyers didn't know the correct rule.
- [23:41]
Chip
They took a shortcut, dude. They did. They do know that. That's the whole point. They do know the correct rule, but they should have filed it on. They. They didn't take. They took a shortcut. They said, we both agree, and then that's it. And then they filed it, and that's not how it works. It's got to be done for procedure. And you don't think shorties take shortcuts?
- [24:01]
Jeff
Yeah, they do, but typically, you know, not. Not in such a. A major case.
- [24:07]
Chip
Well, you also.
- [24:08]
Jeff
It's based on federal.
- [24:09]
Chip
Jeff, you also have two people here as well, right? You have two people here that, you know, two teams. They're following the SEC's lead. You know, they. They thought they could just, like, they thought they could just go ahead and get away with it pretty fast. And nowadays, not how it works. So, you know, when I saw Stu's tweet, I was like, okay, this is spot on. He doesn't care. This is, like, a simple thing. And when he said he was just gonna get with the sec, I'm like, that's something new. You're not. Oh, well, don't worry, we'll get with the sec. We'll work it out.
- [24:36]
Jeff
That's a new, also brand new sec. Yeah, that's, that's the other component of it all. Anything they decided on previously was under a different sec. So now moving forward there had to have been also requests to say, hey, regardless of what you guys put together before, it was a different administration, different sec. We need to go towards, you know, positive outcome, go back and redo this. It does make sense from a lot of different levels. Plus there, plus it's another delay. You know, what exactly is happening, you know what, why delay it? And we don't even know how long it's going to take.
- [25:13]
Chip
We don't get a long. You know, it could be months, it could be months. We, we.
- [25:17]
Jeff
Six months, could be a year.
- [25:20]
Chip
Yeah, I don't think it'll be that long, quite honestly. And, and again, none of this matters. I know about, you talk about, people are talking about institutional sales and this and that and can ripple do this. Look man, if they can't, if, if they can't. The first rule number one is get the Rhinos out of Congress because you had five Rhinos vote down the bill. That was that there should be no, no, no disparaging with, no messing with which is the, you know, the, the tax cuts, redoing the tax cuts that were passed, you know, from the Trump's last term. Right. They expire. You got five Republicans. I'm glad they named themselves. Every one of them will be primaried. Everybody, everyone will be removed. They will be removed forcibly. They can go out there. You know, that's the problem with Congress is what you have Rhinos, R I N O Republican and name only. You got to get them out. So you got to get these losers. You got to get them out. If you don't part, if you don't vote party line and what the people voted for, you're done. So they, they just ousted themselves. They're, there's, they're about. Their districts are going to get ready to put up a candidate. They'll get primaried and they'll be out. They'll be out on their ass. So that's done. This is how it's done. So you have to, that's the first thing that's going to happen. Second thing is you got this, you know the, they're putting together, they put together cloture for the, for the, the new bill that didn't pass last week and everybody was like oh Congress, whoa, boohoo. Because you had people like Josh Holly, who's pretty solid. He voted against the, you know, this, the stablecoin genius act they call it. And they're putting it gonna, it's gonna go to a floor vote now. You had, you had Gillibrand coming out, you had some other prominent Republicans coming out. They got the changes that they wanted. One of the big changes that they wanted in that bill was they wanted to prevent big tech and just anybody and even foreign countries from launching. Basically we saw what happened when, we saw what happened in the XRPL when the meme coins went live. Meme coins went live. There were two, there were three, then there were hundreds, then there were over a thousand. Right? So many of these damn meme coins. What they don't want to happen is they do not want a scenario where, where you, you're, you're, you're pegging it to the dollar. There has to be some standards around it. So they had to put some standards around who can launch it. They didn't want big tech, you know, Google, Apple, IBM, you know, Amazon. They didn't want them launching their own stable coins. And so they put some light. That was one of the things that Josh Hawley wanted in there to sort of protect the, you know, the launching of it. And then there were some, some things about foreign company countries launching stable coins. So you know, these are, these were some necessary things. They were trying to rush it. Trying to rush it. People were like, it's been three months. Yeah, it is, but this is for Congress. You know, it moves pretty slow there. Jeff, we talked about this a lot, that the checks and balances, they're designed for legislation not to fly through. Even when you own have both sides. There's ways you do need some bipartisan support here. And I don't have any doubt. I called it last week. I mean we read that, we read this the other day with two bit idiot. And John Deaton said, oh, woe's me, we're not going to get it. I'm like, this is going to pass. There's one little simple thing. This is. They need some changes. They're going to put it through and they're going to pass it. But really none of this matters. The only thing that matters is that fit 21 build it. Jeff, I looked it up this morning. Do you know when the fit21 passed last year? A year ago. May. It's a year ago. Passed it in the House and it's been sitting in the Senate. We rolled over to a new, you know, into a New Congress in January and here we are back in May, almost in June, and yet that fit 21. So, I mean, the stable, stable coin bill. Yeah, that's sovereignty. That's the U.S. that's, that's USD. That's promoting, you know, the, it's the reserve currency. It's all those things. But what, what it isn't. It isn't the crypto bill. So that's the bill that we care about. And the SEC is just like the old sec, but they're just, you know, it reminds me of socialism. It's like when somebody, when a country tries socialism, Jeff, they're like, socialism. I know it didn't work for anybody else. Ah, we know how to implement. If you just give us a shot, we know how to make socialism work. You know, we're going to make communism work. We're going to make. I know it just didn't go off so well, but. And then they do the same thing better. That's the sec. So the old SEC against her, gone. Gensler moves out. Now you got, you know, crypto mom beating her chest. And we're gonna do this. We'll have a crypto console. You know what? You're, you're none of that. Nobody cares. You don't make rules. You don't. You interpret existing legislation. We've been through five years of interpreting it wrong. You come out and say, we're going to interpret it right. They're going to come out, they're going to make rules and they're going to do this and they do that. And guess what? The old SEC is just like the new sec. The new one's just like the old one. We don't care. And the CFTC is falling apart as we speak. The CFTC got all of the. Everyone's pretty much bailing and leaving to leave them kind of hamstrung before Brian Quintiers is sworn in. They don't even have a nomination for him yet. He's not even on the books yet for to. I mean, he's nominated, but he's not for, for his confirmation hearing.
- [30:33]
Jeff
That's right.
- [30:33]
Chip
That'll be interesting.
- [30:34]
Jeff
So Jim D. Is saying, are they going to let retailers be exempted from the qualified investor malarkey so all can invest in Ripple Inc. Without the shackles of government protection from being made wealthy? And that's, that's a really, it's a really good point, you know, because you think about how many investment opportunities retail is prevented from participating in. If you're not qual. If you're not a, if you're not qualified, you don't meet the specific expectation. And they have adjusted it a little bit, but you know, and it's, it makes it extremely difficult.
- [31:15]
Chip
Right.
- [31:16]
Jeff
So hopefully, you know, that's one of the, the changes. The other, from a taxation perspective, you know, can we get rid of capital gains taxes? You know, the other guys, when they were in office and they said if we win, they wanted to have un, they wanted to tax unrealized gains. So that's any movement that it's so, it's just crazy. Let's just get rid of all capital gains. Let's make it fair. Let's, you know, find a better solution to support the bottom line and not over tax and overburden the, the, the population, which is exactly what we see on a regular basis between, between your federal tax, income tax and state tax, property tax, like sales tax. Think about how much money everybody is paying in tax. It, it's so out of control, you probably end up spending easily. You know, between all the taxes you're probably spending, you know, 50, 60% of every dollar goes into some form of a tax. That's how, that's how ludicrous it is. And so once we figure out how to adjust and change that, whether it's through the tariff system or something comparable, go to a, a flat, if you want to have a flat tax, get rid of all income tax, let everybody keep every dollar they earn. Will be a major, major success. And if, if we can start putting some regulatory clarity together, some rules of the road on crypto, man, it'll be even better. We'll be in such a great place. Look at spycoun says crypto is the first successful socialism. A thing where lower income groups can also hedge. I don't, I don't know if I'd quantify that as socialism, but that would be, you know, giving people, you know, opportunities to succeed. Oh, there we go. Steve Forbes. That's right, his flat tax. Steve Forbes was, he was on the forefront of the flat tax proposal. So you think about how long that's been going on.
- [33:20]
Chip
He's still out there talking about it. That's why I saw him not recently talking about it, but Greg Abbott, who's the governor of, of California or California, my God, California might know of Texas here. So listen, what he has to say about capital gains. Check this out. This is Governor Greg Abbott and I am about to sign a joint resolution that will constitutionally ban a capital gains tax in the state of Texas. There you go.
- [33:50]
Jeff
It's starting.
- [33:53]
Chip
Voters will vote on this to ensure that we're not going to have a capital gains tax in the state of Texas. The next tax law that I will sign will be a tax law to reduce your property taxes in Texas. There you go. Now, Jeff, ask yourself a question. Is this a red state or a blue state? Do the blue states that care so much about you always. Do they ever talk about tax cuts?
- [34:19]
Jeff
Never. Oh, they never talk about tax cuts. It's always about how much more can they tax you? How much more money? How. How can they transfer your wealth to any. Any other party?
- [34:30]
Chip
How can they. How can they bleed you for. For more money? Is pretty much the way it goes, right? They want to see how much more they can. How much blood they can get out of you.
- [34:38]
Jeff
Yeah, go ahead.
- [34:39]
Chip
Go. No, go ahead.
- [34:40]
Jeff
What's that? No, no, go ahead. Finish your thought.
- [34:42]
Chip
I lost my thought. That's why I told you to go ahead. A lot was there.
- [34:46]
Jeff
I was just. I was going to comment on the blood. Talking about blood. I've got a quick video to play.
- [34:53]
Chip
Okay, well, that's an interesting tie in. Let's do it. Yeah, I know. I know what we're playing here. Yeah, I know. When about us yet.
- [35:09]
Jeff
From the Blue Tribe.
- [35:13]
Chip
Word of the day, Day Yeti. Hey, you got your salmon wallet ready? Why? Cuz this is going to be epic. It's time. Time to claim your legendary Blue Tribe. Yeti of the clan Spirit Walkers. His name. Yes. Battle make for legend. Claim yours or be forgotten on the chain. Another banger, Jeff. Another banger.
- [36:25]
Jeff
I love that one, man.
- [36:26]
Chip
That was. There's a lot of. A lot going on on that one, for sure. Did you. Did you play any videos at all, Jeff? Did you play any. Any videos or.
- [36:34]
Jeff
Yeah, I played just the one. No, I played two. I played the one right in the beginning. Which one?
- [36:41]
Chip
Reese Merrick. One from Ripple. You play that one?
- [36:43]
Jeff
Yeah, I played that one and then played the what's his name from the stool bit.
- [36:51]
Chip
Oh, yeah. Oh, yeah, yeah, the FOMO one. Oh, yeah, he fomoed in. That was good. Yeah, yeah. All right, cool. I just want to make sure. Just gonna see where we are here.
- [37:03]
Jeff
Look at all those yetis. Adrian Stormbarg.
- [37:07]
Chip
Stormbarg.
- [37:09]
Jeff
Stormbarg is here. Adrian just got back from. From the new Arsenal Jersey launch. Check that out.
- [37:19]
Chip
Oh, very cool. Very cool. Nice. Very cool, man. I like that.
- [37:24]
Jeff
Yes.
- [37:26]
Chip
Got. Let's see here. What was I gonna put on here? There's a couple things that I wanted to talk about. Oh, Because. So let's try to find the. For some reason I don't think I had the. Where is it? Can't find it for some reason anyway. But John Deaton has a new radio show, local radio show on Saturdays. It's called the Hard Truth. It'll be. I'm sorry, every Sunday at 7pm it'll be on iHeartradios, WRKO 6:80am radio. So I saw this promo, so I thought we'd play this promo. Let me know if you hear this, Jeff. Hopefully I have this up. Right. Let's see. Because you put this on. This is the promo. Tune into the. Do you hear it?
- [38:08]
Jeff
Oh, yeah, yeah. Yep.
- [38:10]
Chip
Okay. I just want to double check. Here we go.
- [38:11]
Jeff
Tune into the Heart Truth with John DEATON Every Sunday, 7pm to 8pm on WRKO8. John Deaton brings you the raw, unfiltered truth that hits hard and he holds nothing back. John Deaton is a Marine veteran, lawyer and best selling author who stared down poverty, survived street violence and beat cancer to fight another day, always for the little guy. Join us as we dive into his journey, his vision, and what he hopes to bring to the people of Massachusetts. The Hard Truth with John deaton every Sunday, 7 to 8pm on WRKO.
- [38:43]
Chip
Pretty exciting.
- [38:44]
Jeff
So it's pretty cool.
- [38:46]
Chip
Sounds to me like he's gearing up for a run against the. The other senator. It's up for. Yeah, for reelection. That dude's.
- [38:52]
Jeff
It's awesome.
- [38:53]
Chip
I think that guy's really. He's at the end of his rope. What's it. What's the. What is that other senator? We always hear about Warren, but who's the other senator from.
- [39:02]
Jeff
Are they. They're not even really that relevant, it seems.
- [39:06]
Chip
Senator is Shane Massey. Is that it? No. Who is it? Senator? I can't. You can't even Google this and find it.
- [39:15]
Jeff
Elizabeth Warren and Ed Markey.
- [39:17]
Chip
Marky is the guy. That's the guy I was thinking about. Yeah. Marky, that dude's. That dude's seen some better days, that guy.
- [39:24]
Jeff
Oh, yeah. Ted Kennedy was the longest serving senator from 1962 until he died in 2009. Imagine that.
- [39:36]
Chip
Imagine if he had lived longer. He would still be there, probably. I mean, this is exactly.
- [39:42]
Jeff
Yeah, yeah. Crypto wealth is at a theme park. I think he's at Six Flags somewhere in Belgium. He said, because I'm really addicted to otc.
- [39:51]
Chip
Oh, he dropped the pick. Okay, let me.
- [39:53]
Jeff
I'll.
- [39:53]
Chip
Let me. Let me put that pick up. If you're saying we can play. Put it on there. Let's see. Let me go into. Let me go check it. You go check, check, check on the mic. Check two. Okay, here we go. There it is. Okay. Yeah, let me put it up here. Let me stop sharing here for a second. I'll start sharing again. Let's see here. Here we go. There's where he is. Let's see. Crypto. Well, let's see. Bam. There he is. It looks like. It's looking all burned out right there. So you can see the roller coaster in the background. Looks a little bit like one of the theme parks we have here in Florida. Looks like the. So what was that called?
- [40:42]
Jeff
Where's that?
- [40:43]
Chip
Yeah, where's that? Where's that from? There it is. See that? Bringing you news from around the world. Where exactly is that? Don't know where it is exactly, but there you have it.
- [40:56]
Jeff
Then we head up more. More monkey business, said Jeff. Google British gas advert taking care of things. They're using your yetis as the characters. No, I'm not. I'm not sure if this is it.
- [41:09]
Chip
But are there any yeti creatures in there?
- [41:13]
Jeff
There's creatures. Here we go. Look at the creatures.
- [41:22]
Chip
Oh, yeah, those are. Those are. Those look like. Dude, Those like people. Bad suits. Geez creepies.
- [41:32]
Jeff
They look like funny. Can't play the music.
- [41:36]
Chip
Yeah, of course. Because sure, it's something to be copyright and trouble. Yeah, the Fuzzies. They look like Fuzzies. Whatever. But yeah, I guess I could see that. I could see the correlation there. I can definitely see it. I could definitely see it for sure. Fantastic.
- [41:57]
Jeff
So where is he? Someone's saying Jurassic. Jim D. Said Jurassic Park.
- [42:01]
Chip
That's what it looks like. Looks like. So I was talking about the CFTC rug pull test. Is a rug pulled Yetis. Ellie Terra was talking about the fact. Well, I mean, she's commenting on this one here. The Democrat commissioner Christy Goldsmith Romero just officially announced her departure for the cftc. Got fam. She's leaving. She's the acting CFTC chair, but when Brian Quinteros comes in, she's going to be. She's going to be leaving. But again, they haven't scheduled his hearing yet, so nobody knows when that's going to be. So she's out by the 31st. And what she's saying here is she says it's notable because both Mersinger and Goldsmith Romero will be out by the end of the month, leaving Democrat Commissioner Kristen Johnson and Republican Carolyn Pham, who's announced her intention to leave when Quinterance takes over his Chair Quinterres has yet to have his nomination scheduled. We don't even know. There's nothing set up right now. But a quorum, minimum number of commissioners needed to conduct votes for the CFTC requires at least two commissioners. So both Johnson and Pham will be needed just to hold a vote. If Johnson were to recuse herself or abstain from voting, it would create a major procedural hurdle. Also, with a 1:1 vote, it'd be super hard to get any rulemaking done, especially at a time when Congress is mulling giving the agency broader authority to crypto through its market structure bill. And so the White House has yet to make any announcement about the replacements for Mersinger or Goldsmith Romero. But whoever fills those roles will be critical to shaping the future of crypto policy in the U.S. i don't know how long, I don't know how I know she's, that if something happens, if somebody does recuse themselves, I don't know how often it happens at the cftc, but she's bringing up a good point, is if you get, if you're down to two and you get a tie, and she's saying if the Republican commissioner goes ahead and recuses, then you have, you're gonna end up having a tie every time with no, no, no way to, to resolve a tiebreaker. But I imagine they'll probably, I'm sure this will probably get solved and they can just probably get somebody and there's a commissioner. I don't know how they do that or nominate somebody to be commissioner. I don't know if the commissioners need to be, the commissioners need to be vetted and, and voted on. I think it's just the, I think it's just the chair. The chair hires who they want, right? More or less.
- [44:25]
Jeff
I think so. I believe.
- [44:26]
Chip
Well, they'll bring in Republicans anyway. So.
- [44:28]
Jeff
Yeah.
- [44:29]
Chip
But this is going to be really important going forward because when that fit 21 bill does come and does get passed, it probably, it may not even happen until after the midterms. Who knows? They're always, they're always weird about passing stuff during an election year, which 26 will be. But I am, I'm gonna call it right now that there will be a massive amount of pickups for the Republicans only because the, the Democrats are doing a phenomenal job of just destroying the party by themselves. They just keep, they just keep stepping in it over and over. And I don't think they have a real, I don't think they have a real shot at picking up seats. I don't know who, what, what they're, they don't even have any messaging at this point. Their messaging is anti, you know, anything against Trump or the Republican Party and people that are fighting for criminals to come back on the country is not a winning message. The polls are reflecting it. They're trying to get off that, but almost at every turn. Then we've come to find out, Jeff, that the 400 million plane that the Democrats can't believe that, that a foreign country would want. This is what Warren's, you know, Pocahontas is saying and they're giving Trump 400 million dollar plane but they don't want anything returned. And then we come to find out that this conversation happened, started a year ago with the Biden administration and people have weighed in who fly, you know, this is the second, they always have a backup plane. And they said that the backup plane had originally had, was so old that it had the, you know, the, in the seats, the smoking thing and it was written in their language. So that was a foreign plane as well. And this is a backup for you for Air Force One. It's not a replacement. And it is something that was. And so then when all sudden, when I saw the fake tapper, when the guy was on there talking, the fake tapper, he was saying, yeah, this started under the Biden administration. It's like, oh, then all of a sudden that disappears that story because everything is, you know, everything that Trump does, he went out there and he just got 1.2 trillion dollar investment in the U. S from the Middle East. He went up there and he basically went it alone and said, you guys are free to operate, you guys are free to be countries and do what's in the best interest of your country. We don't need the World Economic Forum involved, We don't need, we don't need Europe involved. We don't need anybody involved. You guys are sovereign countries, you can do what you want. You don't. This is not nation building with, with installed governments. He's given Syria a shot. He's given him a chance to do the right thing. He's given a shot. They've been basically closed down for 10 years. So he's saying, go, this is your shot, you know, this is your shot at greatness. Let's go. And so you gotta incredible amount of, of of props in the Middle East. You can see how he was, he was treated. And then, you know, you can see the contrast when Biden went over and visited versus Trump going over and visit. They rolled out the red carpet gave him the highest honors when they escorted him in. It's just an amazing all all around sort of a put on a show. And Trump had great things to say and I think it's, you know, you can see his foreign policy is very different than previous presidents foreign policy of hey, you guys, start making your own way and start doing your own thing. And the other thing he did was he took away the China card from all these countries. He's basically saying we're going to be your partners, we're going to do things together, we're going to have your back. And guess what? And he's. He's kind of boxing out China in this whole thing. So it's a really. People look at it one way in an economic sort of sense, but in another way it's really a lot bigger than what's what you're seeing take place. Jeff. I mean I think it's been spectacular in every sense of the word. Every sense of the word. I say every step, every sense of the word. So let's see what else we have here. If there's any other. Oh, this was, this was something. I don't know if. Did you. Did you put that Garlinghouse post up there at all? This one here.
- [48:40]
Jeff
Which one was that?
- [48:42]
Chip
He said he's loved it. Yeah, he put this up. This was on the 15th. It was two days ago. I love starting the day seeing my friends through Alderati getting the public recognition he deserves for the amazing work he's done here at Ripple and in support of the crypto industry. And of course this was. This was a national law review. Yeah, Pretty cool.
- [49:00]
Jeff
Yep.
- [49:01]
Chip
Man behind crypto's biggest court victory. Pretty awesome to see his name out there. And when you say biggest court victory, hell yeah. SEC and here it is. Ripple's chief legal officer since 2019 knew the stakes were high, knew the implications and he basically said that the SEC provided no clear regulatory guidance on the before the lawsuit and again they don't provide guidance of the whole thing is what's their guidance was poorly structured. He said the agencies were regulating by enforcement, meaning that the legal expectations were clarified via cases brought by agencies rather than establishing clear guidelines and rules. Talked about the 46 Supreme Court, you know, SEC versus the Howie, you know, three contentious years felt it felt like forever. Jeff going yeah. Battle winning strategy impact was celebrated across the crypto ecosystem, said Alderati. On July 13, 2023. Torres ruled that XRP is as a digital token and not in fact it's in itself A contract, transaction, or scheme that embodies the Howie requirements. And this is the one thing where again, I was going back with people, back and forth with folks on. On X. This is the part they're missing. They're like, what does Ripple care about that? Well, you're talking about the very first ever legal clarity of any digital asset in the United States has legal clarity. Because some could say, well, you know, bitcoin has it. Well, who are you going to sue in Bitcoin? Right? You're gonna go after Sakamoto. I mean, who's gonna. Who are you going to go after? But the point of it is, is that now you have something on the book saying it doesn't meet the requirement of the Howie test. And that's. That's a huge deal.
- [50:46]
Jeff
So that was a massive deal. Yeah.
- [50:48]
Chip
Big props to Stu Alderati for. For pulling that one out, man. Very.
- [50:52]
Jeff
Did a great job.
- [50:54]
Chip
Did a great job, man. It was a lot of stuff. And 150 to 200 million dollars later, you know, they luckily, like, they said they had money to go.
- [51:01]
Jeff
Right. Some others weren't as fortunate.
- [51:04]
Chip
No.
- [51:04]
Jeff
Look what happened to Jeremy Kaufman's.
- [51:08]
Chip
No. Such a shame. Such a shame. Such a shame to see that because he's such a good dude and, you know, just. It's just. It's a sad, sad state of affairs, man. But he didn't have the money to. Deep pockets also, too. That was done. And what was that? Was that New Hampshire? Where was that fought? Where was the court district on that?
- [51:27]
Jeff
I don't remember exactly, but it was.
- [51:29]
Chip
So 5, 86 years old. The guy was like. He was like an ancient. He didn't even understand. I don't think you knew what crypto assets were.
- [51:37]
Jeff
All thing was bad. Yeah, that's Mark. The Panthers did not meet the Howie test last night. That game was a travesty. It was a travesty. They went into the. Into the third period. 00. Yeah, they. They just weren't playing aggressive offense. They were, you know, kind of lulled from the night before with a 61 victory. They led 60 into one minute left in the game on Wednesday, and then they come back in tomorrow last night, and it was just. It was just so crazy. I go over to my neighbor's house over for the third period, and I. And I sit down, and after I sit down, you know, we're talking about. I'm like, oh, that was 00. Now 01. All of a sudden they score. That was just brutal. The fact they gave that up you know, they had some opportunities to score. It was at home, you know, just the whole thing just did not look, you know, just didn't look good. You know, now they have to go, you know, Sunday be back in Toronto and now they gotta win. They've got to pull this off. So, yeah, winner goes, man.
- [52:46]
Chip
Be better if the loser stays home. Yeah, well, better for the winner to go home.
- [52:52]
Jeff
Exactly.
- [52:52]
Chip
Yes. Yeah.
- [52:53]
Jeff
In that case, yes, exactly. The loser stays home.
- [52:58]
Chip
It's a sad.
- [53:00]
Jeff
That was bad. That was really bad.
- [53:02]
Chip
I really honestly thought, I did not see that, you know, that that was gonna happen. I really thought there was a way at home.
- [53:08]
Jeff
Dude, they want three games in a row, three in a row, which is pretty big. You know, overall, to pull off a fourth win in a row would be major. You know, Toronto isn't horrible, but last night showing, you know, the Panthers just didn't play. It was just kind of crazy. Low shots on goal. Wasn't like the goalie, the, the Toronto goalie was doing anything exceptional. You know, they had like 14, 15 shots on goal, you know, versus, you know, the, the game before. It was just crazy. And how do you go from a 60 to 02 defeat? It's just, how does that, you know, that's hockey. You know, it's amazing. Amazing.
- [53:52]
Chip
It's weird about hockey. It's like you can go down, you can have a, you can blow somebody out one night and then the next and you know, two days later you get, you know, lose hard fought when you should have just wrapped it up and been on the round two. I mean, that's what it really should have been. But it's a sad thing, man. But that's right.
- [54:08]
Jeff
And for the weather news, man, I think it's going to be hot today.
- [54:12]
Chip
It's gonna be hot, man. It's always gonna be hot. Every day it's hot. The hot Florida. There's three, there's three weather patterns. It's, it's, it's wicked hot. It's hot or it's not so hot. That's so hot. That's it.
- [54:28]
Jeff
Well, you came out of the great, the greatest season. You know, every day it's been in the low 80s. And then yesterday 97, at least that's what my car said. So it was supposed to be 91. When I was driving back, it said 97. It was just, it was brutally hot yesterday. That was crazy.
- [54:46]
Chip
It was, it was definitely a barn burner. Barn burner. Yeah. So there you go.
- [54:53]
Jeff
They will choke Game seven. Charles, you heard it Here first.
- [54:57]
Chip
Let's hope that that is the case. And, you know, like I said, anything could happen. You don't want to get overconfident, but obviously that could. There could be something like that. We'll see what happens. I wanted to talk a little bit about Trump's. His. His. His visit to the.
- [55:14]
Jeff
Colin wants to know what software we use for those great tunes that we're making. Software?
- [55:22]
Chip
I can't tell you, man.
- [55:23]
Jeff
The secret sauce.
- [55:25]
Chip
Yeah, it's good stuff, man.
- [55:27]
Jeff
Takes a couple different sauce.
- [55:28]
Chip
Yeah. Not taking a shot at making legit music, being a musician myself and knowing how to craft lyrics and learn how to write a good prompt. I mean, it's amazing the stuff that I'm. I'm blown away by what I'm able to do. And I'll be releasing an album of a fictional band with fictional members with my. My lyrics, you know, my. Know how. But I'm gonna put it out and I've got like four songs together. I get about two more that I think are good. It's a lot of iteration with AI, but I'm pretty excited. What's that?
- [55:58]
Jeff
Do you want to do a preview? Play one.
- [56:00]
Chip
Yeah. Let me see if I can pull it up. And then you'll see the software we use. You'll see the software. If you guys pay attention, if you really paying attention, you probably can see attention. Let me see if. Let me see if I can up here. That's the thing about this. I've done. I've made over 1200 songs, Jeff. So you see the iteration that goes into, you know, getting one.
- [56:26]
Jeff
It's amazing. Oh, yeah. They don't all come out the way you want them to come out. And you gotta adjust and. Can I join the fictional band?
- [56:37]
Chip
Oh, yeah, you can, dude.
- [56:38]
Jeff
I think Chip needs some roadies.
- [56:39]
Chip
It's a fictional band, of course. Colin, you're in Collins and Fictional band. Fictional band. Well, what's funny is I've got the name of the singer. His name is. His name. His. Fen Loxley is the name I've named the fictional singer I'm coming up with. His name is Fenn Loxley. I mean, it is really so much fun to. But let me. Let me put on this tune here. What do I. I just have to share it right on the. Yeah.
- [57:07]
Jeff
Yep.
- [57:08]
Chip
Second. Okay, here we go. So here's funny thing is I wrote these lyrics. My gosh, I don't know. Like, I have a whole book of, you know. Nice. I just write stuff down all the time. And then I was like, let me kind of like revive. And then I put them in a. Put in my Dropbox. So I had them all digital, so I could just run through there and kind of craft them that way. But I will go ahead and. Let's just preview this one. Where is the here we go share screen? This one right there. There we go. Okay, here we go. So tell me if you hear this, Jeff, you should hear it. You hear that?
- [57:40]
Jeff
Yeah. No, because you haven't shared it yet. You got to share it. Put it up on the screen. Put it up. Here we go. Jim D says Chip has a new career opportunity. A human cyborg bridge between AI generated lyrics and stoner rock and roll. And Chad is the air drummer, by the way.
- [58:17]
Chip
Air drummer. Beautiful.
- [58:21]
Jeff
There you are. No, there's the lyrics, too. Put it up whenever you're ready. Be awesome. So the secret call it is also to use up, make sure if you write your own lyrics, which is great, you can do that. You can clean up the cadence in chat GPT and tell it what kind of music you want. And make sure you prompt that right. Make sure it doesn't adjust all your words, but you can have it help you with cadence, help specific beat, help come up with a specific style bait. And so you can kind of. You have a good starting point based off of the chat GPT commentary. You can have it write something up. And then when you use this software, then you start plugging in and you start adjusting even further, you know, based on correct style prompting. But it. A lot of it comes down to the cadence and understanding how to break it up. Like, you can see what Chip did over here, like, with a chorus, and it's amazing. So, you know, and I've been playing around. You can do male vocals, female vocals. Now I'm playing around with different accent vocals. So you do, like, British male vocal. And so if you start playing around with that and then figure out what kind of depth you want from it, what type of speed within your cadence. So if you have the cadence of the lyric prepped and then you can speed the beat to the. You know, to that. And it's just all, you know, based off the prompting. But what will inevitably happen, like what Chip was saying, you'll generate it and you. When you listen through it, like when I do the, you know, for the badass yetis, each one, you'll. You'll get a mispronunciation somewhere or they'll skip lyrics. So as you listen through. So then you just gotta. You and I, I had a Couple. They were amazing. Like, starts off, everything's perfect and then it gets a like blue tribe and it says Blue Tribby.
- [60:26]
Chip
Yeah.
- [60:26]
Jeff
Or it doesn't say epic or it doesn't say the name. It doesn't say Mrs. Like this. The whole, you know, they'll miss a whole segment and you know, like, how does it, how does that, you know, and then you get. So you delete, you redo. And then you want to make sure you're fine tuning, you know, the sound and intonation of everything, which is really cool.
- [60:47]
Chip
Well, the other thing I'm doing, it's a lot different too, is I'm uploading my own. I've got a lot of demos, so I've uploaded demos, I've updated some guitar tracks and I'll upload a guitar track. So it's based on something. I've also stripped my vocals off of my other songs and made new versions of them. So it's my voice, but it's making a brand new version in a different style. So I've taken, I've taken. Stripped my voice off like other recordings that I've done. And so that's where, that's where the, I think the big, the big sort of game changer for me is. And then too, like if I take a guitar part, I upload a guitar part, you can even humor, you can even hum a melody into this. But what we use is suno s u n o.com suno.com you have so many free credits a day. But Jeff and I both have the paid version. But it's, it's just a, an amazing piece of software that I spent way too much time of my life on. I mean, it's, it's. I don't know if I can, you know.
- [61:47]
Jeff
All right, so let's do one of.
- [61:48]
Chip
Yours here, let me preview a preview. Let's see. Hang on a second. Here we go. Let me try to find. I'm going to play one of these. Or I made a new version of one of my tunes. Yeah. Okay, so I'll just trip you through some of these songs that took my voice, stripped it, put it on here, created a brand new version of one of my tunes. So she don't know, but it's a couple of different, different sort of versions of it.
- [62:24]
Jeff
We don't hear anything.
- [62:29]
Chip
Chip.
- [62:30]
Jeff
We don't hear it.
- [62:32]
Chip
You don't hear it?
- [62:33]
Jeff
No.
- [62:34]
Chip
Weird. How do you hear it?
- [62:37]
Jeff
I don't know.
- [62:38]
Chip
Let me see. Oh, wish would have told me sooner. I was thinking you were hearing that I don't know how I'm sharing the sound from. Oh, you know, I'm. Let's see. That's weird. You know what? I don't think the first time, I.
- [62:53]
Jeff
Don'T think you were sharing the sound because now it actually tells you if you're sharing sound over here. And then you can mute the screen audio once you share. Look at that. That's new.
- [63:02]
Chip
Oh, you know what?
- [63:03]
Jeff
So when you share, you have to make sure you share the audio.
- [63:07]
Chip
It's weird. Okay, let me try.
- [63:11]
Jeff
Unfortunately, the sound of silence.
- [63:15]
Chip
That's weird because, you know, I was sharing that on a different browser. That's.
- [63:21]
Jeff
Oh, that's weird.
- [63:22]
Chip
I mean. So.
- [63:26]
Jeff
Were you sharing your screen? Are you sharing.
- [63:27]
Chip
I was just sharing the screen. I was. I never shared the audio. Which is really strange, right? Because I mean, because I don't think you can share. Yeah, because I can only share. Unfortunately, the software I'm have to switch over to Chrome 100. Yeah, that's very strange because. Did they change something here?
- [63:48]
Jeff
No.
- [63:49]
Chip
Oh, no. How did you.
- [63:50]
Jeff
Still gotta go in.
- [63:52]
Chip
Because I shared. I shared a Brave tab on a Chrome browser. How did you.
- [63:57]
Jeff
Yeah, everything else we could hear. But if you go into. Let's make sure you're sharing your audio. There you go. Like on this one, I can tell it's audio. I can even see the volume when you had the other one up. I didn't see your audio like the one that you have there, the guy on Trump. I can adjust the audio on my side. I can turn it up and down.
- [64:22]
Chip
So that's something.
- [64:23]
Jeff
When I can mute it. That's new. Now that I muted, I can't unmute it. That's not nice.
- [64:30]
Chip
Okay, so that's wild, dude. I didn't even know that that was. It was an issue. But let's see. Let's go to. Let's go to Share Screen. Let's go here. Okay, so now you should be able to see the screen, right?
- [64:44]
Jeff
Oh, now I see it. I don't see the screen yet, but I see the audio. Now throw it up on stage.
- [64:49]
Chip
There you go.
- [64:50]
Jeff
Now it should play.
- [64:51]
Chip
Yes, here we go.
- [65:08]
Jeff
She thinks out loud.
- [65:12]
Chip
It'S always something more than we bargain for she walks down.
- [65:19]
Jeff
Gonna meet her at the corner.
- [65:21]
Chip
Of Fairfax, baby so I stripped the voice off another tune and put it on here. I made a whole brand new version, which is insane.
- [65:36]
Jeff
That's so cool.
- [65:41]
Chip
So I'll just give you a number. I got it. Let's see. Yeah, see, so I just made a ton of them. So I'm just going the ones with the thumbs up so you can see. They all have a different vibe to them. You know, it's. I mean it's. It's absolutely insane, man. What it does.
- [66:13]
Jeff
Amazing how it totally trusts the. The song pattern.
- [66:17]
Chip
I'm trying to find one. I mean, it's crazy. Grunge version, you know.
- [66:34]
Jeff
It'S amazing.
- [66:36]
Chip
That's crazy how it did so many different, you know, so many different versions, man. Let's see. There's another good one here that's trying to find. Weird. I don't see it here, but it's like a garage version. Oh, you know why? Because I didn't scroll up. That's why. Dude. Okay, there you go. There we go. Yeah, this is it right here. I'll take it to the chorus here. It's insane, dude. It's insane.
- [67:39]
Jeff
So.
- [67:39]
Chip
So yeah, there's so many cool. I mean so many cool parts of that.
- [67:46]
Jeff
So you can separate the lyrics and also each instrument on different tracks you can create.
- [67:51]
Chip
There's stems where you can download just the music and then you can separate the. There's a little bit of bleed over when you review, when you remove the. The vocal. So. So if you wanted like, I mean, if you technically wanted to re record it, you know you could.
- [68:09]
Jeff
Right?
- [68:10]
Chip
If. If, you know, if you wanted like record your own vocal over it, you.
- [68:12]
Jeff
Technically could do that because you can do instrumental only.
- [68:16]
Chip
Exactly. Yeah, you could do. You could do something along those lines. But I was going to. Let's see that.
- [68:28]
Jeff
How many yetis do we have in, by the way?
- [68:32]
Chip
How many yetis? What?
- [68:34]
Jeff
How many people have typed in yeti?
- [68:36]
Chip
Oh, let me look. We take a look. Let's take a look at how many we have in the. Let me look at the kind of damage we have over here. You know what? I don't think I even. We don't have enough. 127. Kidding. That's. That's not true. 16.
- [68:56]
Jeff
16. All right, well I'm gonna play this and you guys gotta type in yeti because we're very close to doing the drawing for people. Drawing Badass yeti. It's not just any badass yeti. It's a badass yeti from the blue tribe of the clan. Spirit walkers. His name. Yarn over. Yarn over. So here we go. From the Blue Tribe.
- [69:34]
Chip
Word of the day, Yeti. Hey, you got your salmon wallet ready?
- [69:44]
Jeff
Why?
- [69:46]
Chip
Cuz this is gonna be epic. It's time. Time to claim your legendary Blue Tribe Yeti of the clan. Spirit walkers. His name. Yeah. On a chain. Bad as yet claim yours or be forgotten. But I get it on the chain. Yeah. That's a banger right there, isn't it?
- [70:45]
Jeff
Yeah. You're an alar and you're an offer.
- [70:51]
Chip
That's really cool. That is really cool, guys. You guys have the chance. You gotta type in Yeti. We got a couple more pickups. We went from 16 to 22. If there's any late people out there want to just run in there is Yarn offering the fictional band now. Man, he got booted. He's out of the band, dude.
- [71:05]
Jeff
Oh, we kicked out.
- [71:06]
Chip
He got kicked out. No, we. They're the road crew. They're the. They work security. The yetis work security, Jeff.
- [71:15]
Jeff
Yeah, that's exactly what they do.
- [71:17]
Chip
Yeah. Colin, if you want to hit me up on X, hit me up DM me on X and I'll give you. I can. Yeah. Answering some of your questions and stuff where it makes up all these names. Yeah, dude. Well, these are based on Nordic and Viking folklore. That's why they're missing a lot of vowels. But yeah, all of the badass yetis have an original name, all 589 of them. So. And may I remind people that we. We're trying to sell this out, guys. So we're getting very close to the end here of going full sellout and before I, before I do the thing, I want to just go ahead and mention that and we are getting ready. Jeff and I were working the other night on the bad ass chimps. The badass chimps are almost ready for mint and. But this is where if you go, I'll drop it in the website. It's there 86. We're trying to sell this out. If you want to go ahead and mint one, you connect your zombie wallet, you connect it up here, you collect mint and then you can go ahead and you can go ahead and mint one. And we're getting close to the edge on 589. It'll be a total sellout and it'll just only be remarketed after that. So we got 229 holders there. 9% of 9 and a half percent of the people have relisted them. What we see right down here. But let's see. I will go ahead. Let me put this in the. We put this in the chat here, you guys. You want, if you want to. You haven't. You don't have a bad S. Yeti or you want to add to your collection. There it is right there. Go Click on that. You connect your Zaman wallet up here. While it's already connected, you click mint and you get a random one. You don't know what you're gonna get. It's like a blind box. You click on it and next thing you know you end up with one of the. One of the tribe members, but you'll get one of the badass yetis. These are the ones down here, the ones you, you know, the different ones you can take a look at. So that's, that's what's at stake here, guys. So go ahead and get yourself a badass. Yeah. Today it's 16XRP for a badass blue tribe member. The white tribe member is. The white Tribe number is 12 XRP. The badass chimps are getting ready to roll out. Jeff. We've previewed those so people are excited about the. About them. So we'll be rolling those out hopefully in the next week or two. Is like we're looking, targeting, trying to coordinate it with XRP Cafe, which will be. Which is where the yetis live, of course. And here we go, guys. Let's go ahead and give this a drawing. We've got 25 in here. You got two more people jumped in. Here we go. Let's see who's going to win a badass yeti. Go. There it goes. Charles. Boom. Look at that. Right before Charles. Charles, the big winner here. Another badass yeti. Thomas. Thomas. I mean Thomas. But it was funny because we saw Colin's name come up. It always teases you with that. Oh, I think I want. And no, it's Charles.
- [74:39]
Jeff
Rigged.
- [74:43]
Chip
Congrats, Gerald. Well, the good news, guys, I put the. If you guys want to go ahead there and you can go ahead and get your own very own. Helps out the show and you can go ahead and get your own badass yeti. There he goes. Boom. Quick. Tons of congrats. Beautiful. I know Charles is here.
- [75:01]
Jeff
So Charles, are you still here?
- [75:03]
Chip
You still need to see you chime in over here.
- [75:06]
Jeff
That's right. If he left.
- [75:08]
Chip
589, baby.
- [75:09]
Jeff
Of course.
- [75:09]
Chip
589. 589. We're getting real close to it. We're gonna, we're gonna sell this out. It's gonna be exciting. Sorry about that. We'll just. Dude, go get yourself. Go on x. Takes you 3 seconds to open up an account. It's not the big deal, man. I mean, you're missing a lot of stuff. You're not an X. But that's why we. That's why we. That's why we read it here. So you don't have to. So you don't have to look for it. We read the. We read the X post. You don't have.
- [75:41]
Jeff
There he is. Charles is here. Charles, my rug has been rigged.
- [75:47]
Chip
Okay. He just put his wallet up there, too, dude.
- [75:51]
Jeff
They did.
- [75:51]
Chip
All right. Yeah. Boom. Right there. He said, boom. See that? He's in the john. You know, that's what my dad says. My. My dad's favorite joke is like, he goes. He said, you know how Trump renamed. Trump went ahead and renamed the, you know, Gulf of Mexico the Gulf of America. My dad renamed the john in his house. He named it the gym. He goes, yeah, I go to the gym twice a day. They go, oh, wow, that's awesome. He renamed the John the gym. So instead of going to John twice a day, he goes to the gym twice a day.
- [76:23]
Jeff
It's very funny.
- [76:25]
Chip
Yeah, he dropped the address. Yeah, we saw that.
- [76:27]
Jeff
Yeah.
- [76:29]
Chip
Big beat down. Big beat down. Not the small. Don't get this confused with the mild to medium Beat down. This is the big beat down, baby. I'm messing around. Awesome.
- [76:39]
Jeff
Sliding to accept. Here we go. This bad boy is going to be yours in two seconds.
- [76:46]
Chip
Gotta love that, man.
- [76:48]
Jeff
It is. Verifying. Boom. Submitted successfully over to Charles Tamarello. This bad boy is now yours. Badass Yeti number 471. Check it out. That guy's cool.
- [77:02]
Chip
That awesome man offered all four. Say that three times. Fast.
- [77:08]
Jeff
Yarn all far.
- [77:11]
Chip
Yeah, just click on the. Click on the image itself so we can get a bigger picture of him. There we go.
- [77:16]
Jeff
Yeah, guy.
- [77:18]
Chip
There it is.
- [77:19]
Jeff
That's yarn right there. Look at those teeth.
- [77:22]
Chip
Hey now. Hey now. Yeah, yeah, yeah.
- [77:30]
Jeff
Now yours.
- [77:33]
Chip
Yours. Sweet.
- [77:34]
Jeff
That's it.
- [77:35]
Chip
That's it, man. That's all we know. That's all we have. So, guys, be back tomorrow night. Crypto whelp. Enjoy the rest of your time at the theme park. And we will. You know, here we go. If we didn't play this. Margaritas. Margaritas. Risky. Is it risky? Is it risky? No.
- [78:04]
Jeff
Margaritas.
- [78:08]
Chip
Gotta love it. Margaritas.
- [78:10]
Jeff
Margaritas.
- [78:11]
Chip
Wait, what's which word?
- [78:13]
Jeff
Bad yet? He's on the chain.
- [78:16]
Chip
Oh, yeah. So we'll take it out of here, guys. We will take it out of here. We'll see you guys tomorrow night on the chain. On the chain. On the chain where we will be giving away yet another badass yeti. We got to give away some white tribe, too. Then very soon, very soon indeed, we will be giving out the badass chimps that's coming up, guys. Need a big kickoff on that to.
- [78:42]
Jeff
And we still have some land available, too.
- [78:44]
Chip
Got some land we give away.
- [78:47]
Jeff
We've been holding the land. We got to give away the land.
- [78:52]
Chip
Yeah. Hell yeah, man.
- [78:54]
Jeff
How many plots of land do we have here? Let me see. I think we had four plots of land that we have to give away if XRP wants to validate my human. Yep, we have four plots of land to give away over at X Spectre, so. Hillside City. All four of them are in Hillside City.
- [79:17]
Chip
Hillside.
- [79:18]
Jeff
Well, we'll be giving those guys away soon in the near future. There they are right there.
- [79:24]
Chip
There's four.
- [79:26]
Jeff
It'll be pretty kick ass, so.
- [79:29]
Chip
Got lots of stuff to give away, man. Lots of stuff to give away, people. All right.
- [79:37]
Jeff
Blue Drive yeti. They're not related to the Smurfs. They're badass yetis.
- [79:44]
Chip
Oh, the Smurfs. Who put the smurf reference in there? Come on now, people. Come on. Now.
- [79:49]
Jeff
I. I get how, you know, he could almost confuse some of them, but these are the badass yetis. There's different clans within the badass yetis, but I could see how if you were to think about a yeti as a Smurf, whereas the smurf is yeti, maybe one of these guys could almost, Almost make it, you know?
- [80:07]
Chip
But yeah, they're not as. They're way cooler than the Smurfs. But no, if you want to preview, let's show what the badass chimps look like.
- [80:15]
Jeff
Beard. All right, let's do a quick, quick preview of the. Check out these badass chimps. These guys are kick ass. Finally finished that.
- [80:27]
Chip
With those badasses. Well, look at that. Look at those. Yeah, look at that. Got the revolutionary gear on right there. You gotta love it, man. You gotta love it. The fedora, hoodies there. That's a. Look at that right there, man. Spacesuit. Hell, yeah. This American spacesuit giant. That one's happy. Don't mess with that badass, man. You have that description, Jeff, that you can read while we're flipping through here?
- [81:06]
Jeff
Oh, yeah.
- [81:08]
Chip
To read that. Look at that. He's got a little stub nose revolver there. Where do we put it? That's a James Bond looking badass chimp right there. Yeah, it's in the. Keep under.
- [81:18]
Jeff
Yeah.
- [81:23]
Chip
That'S the. The Viking hat with the exposed skin.
- [81:30]
Jeff
You ever mint. You ever minted an NFT that looks like it was sketched during a sugar crash in kindergarten? Yeah, not here. The Badass Chimps 131 unique traits of pure, unfiltered badassery. They didn't sneak back. They didn't sneak in the back. They kicked the damn door off the hinges, slapped your floor with muddy boots, and said, legacy is loud. Hope you brought earplugs. No utility bribes. No road map, yoga circles. No token launch moon dances. Snag a badass chimp and join the uprising. If you need a safe space after that, try knitting. We're busy being legends, dude.
- [82:09]
Chip
Legends, baby. Legends. Join the uprising. That's what it is. Look at that right there. He's going to war. It's some revolutionary gear right there. So, yeah, this is it. Some of them, some of the more rare ones are holding something in their hand, like the popcorn, which will be you'll need for the next three and a half years as things play out, you know? Or maybe a flight jacket you'll need with a. With a nice bucket hat. Or maybe you're pimping in style and you need a nice, good fur coat. You know, that's always a possibility. Get the lab coat too. That's another rarity. That's the good doctor, you know, mixing up this thing. Got some army fatigues in there. Yeah, it's got the whole thing. Man, these guys are cool. Yeah. So you guys can get an idea what these puppies look like. Different expressions, different hats, different, you know, holding stuff. See that right there? That's the rocker dude. Look at this. This skull breaker. Look at that. Oof. Damn. The guitar in hand, ready to rock out the. There's the bones. So, yeah, guys, that's pretty excited about this launch. So let you guys know when it's going live and we will make a splash. Great, dude. That's great. Gotta love it. Gots to love it. So that's all we have today, guys. We will see you guys on the next one. We will be getting out of here. Let me see what. I'll play the. I'm gonna play the. I'll play the older outro. Should I play that one? I'll play the long outro. We haven't played that in a while, Jeff. Oh. See you guys tomorrow night. Are you down with otc? Please, like, subscribe and click the bell to be notified when the next video drops.