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On The Chain - Blockchain and Cryptocurrency News + Opinion
Something Big Is Forming… XRP, Stablecoins & The New Payment System
01:12:47
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- [00:02]
A
All right. I think people are truly underestimating what is happening with XRP and stablecoins right now. This has been building up for years, but what's the difference that we're actually starting to see now versus before? Right now, we're starting to see a move towards real payment rails, real institutions, and real actual use.
- [00:23]
B
Yeah, that's the shift. It isn't just development anymore. It's really starting to look like implementation.
- [00:30]
A
Right. I like that, Chip. Real implementation. So the question is, are we still early? Watching this build these early days, are we actually starting to see this thing go live? That's what I want to know. Hey, this is chef Jeff here with co host Chip. What is going on, Chip? What's going on, everybody out there in the on the Chain community? Welcome back to on the Chain. Chip, you ready to kick this thing off?
- [00:54]
B
Let's go. Welcome to on the Chain.
- [01:03]
A
All right, Tonight we're actually going to dig into XRP, stablecoins, Ripple, MoonPay, and why this shift towards real adoption might be closer than everybody out there really thinks, Chip. I mean, this is. We're actually going to break this down. What's really happening and how all of this is really starting to connect. I'm excited about today's show. I think it's gonna be amazing.
- [01:25]
B
Hell's to the end. I'll get there's right. Welcome. From Belgium in the house to art on the Chain from Hawthorne, Florida. Get Joe, buddy. What's up, everybody? Vincent Scully. Happy Sunday, everybody. Guys, feeling sick as a dog. Don't worry. We've got something. We've got a dog to improve your spirits. Hold on. Wait. Wait for the dog. You got a dog to improve your spirit. The dog. We got a dog video that you'll like, but sorry to hear that, man. I know. I was sick a couple weeks ago. Four or five weeks. I was sick and managed like two weeks. I couldn't shake it. It was crazy. Two weeks, I could not shake it. And I was feeling very under the weather. Under the weather. And let's. Let's. Let's start it off. Jeff. Let's go with J I O. J I O. J I O. J, J, J I O, J I O. So Jay is. It's funny because I used to follow him before he even got hired over at Ripple. Because now he's at Ripple. Yeah, now he's over at Ripple. But I've, you know, who's it. So he's the head of engineering. It's funny. Head of engineering. He's really like A chief tech officer almost. He's almost like the new David Schwartz, although not maybe as visionary. But I think this, I just been loving his threads. I've been loving what he's writing. I think he's got the right energy, the right approach, fresh ideas. This is really great to see this. And he talks about being more proactive and AI driven when it comes to strengthening the XRP security. He said that includes AI assisted testing across the development life cycle, dedicated red team, higher standards for how changes are evaluated before they go live. And if you remember recently there was like a little bit of hubbub and dust up about one of these amendments that had some not so good code, was a little bit. Needed to be tweaked a little bit, probably shouldn't have got committed. There was like a bug in it. And this is one of the reasons he says as the XRPL scales to support global payments, tokenized assets and institutional use cases, our goal is to continuously strengthen its reliability. The reality is the work of building secure, reliable financial infrastructure. And then more in the post.
- [03:31]
A
It's never done.
- [03:32]
B
It's never done. And I don't know if you saw Anthropic released. Anthropic who makes Claude they accidentally, like, you know, if you put like a post up and it's like in a draft thing, but it was in an online cache. But somebody found it. Of course there's always these. Somebody found it and IT basically erased $5 billion from cyber security because, because of the, because of the nature of this new model. So they're like, well we, we don't know if we're going to release it or when we're going to release it, but unfortunately they leaked it way too soon. Oh like 5 billion. Palantir palo alto. All these cyber security firms got just boom, destroyed in the market last week on a blog post saying that it could, that they might have to give it to these security guys first to make it more so when you think about code and being safe and being secure, you know, AI can do things that humans can't. This is one of the key pieces. Like it can find bugs faster. You know, you can do like I'm working with Claude code and I've got a, I've got a QA specialist. All they do is just go ahead and just look at stuff and try to break it and see before it goes into like a production type environment and you know, you know it takes humans a long time. The other part too is sometimes you fix one piece of code, but there's legacy stuff and it breaks another piece of code. And so then you have a. Then you're screwed. But then you know like your humans can't find the AI is like okay yeah this is the problem. You did this and affect this and you got to. Then it also changed it for you. So I think, I think these AI models are going to get better and I like this because just kind of touch on those three bullet points. Jeff, kind of like what this is really all about. Oh we already kind of hit that but just jump in here for the grab this one here, these two.
- [05:21]
A
This is, this is exciting because is the longevity in the financial systems coming with a much higher bar of performance. I think all these things starting to line up. But the XRPL no exception to this reality. It has been operating continuously since 2012. Think about that, think about 14, 14 years. It's it all this seems that old but it seems like yesterday. It doesn't seem like 2012. I mean it's, it's really amazing. It was, it been. It's been serving as a foundation for global payments, real world asset issuance and financial primitives for institutions. So we're looking at a long period of time testing the test a decade in over this time. Over that time it has processed more than 100 million ledgers. That's right, 100 million facilitated over 3 billion transactions. Billions in value transfer. This is a big deal. This is real world utility in play. You know obviously early on but here we are a decade in and a lot has actually been happening. So now as we dig further into this document, that track record is a testament to the robustness of the system but also comes with an important trade off. Like any long running production great software system, the XRPL code base reflects over a decade of engineering evolution. As we just mentioned, design decisions made in earlier phase of the network, assumptions that held at smaller scale and patterns that predate modern tooling collectively shape how the system operates today. I'm, I'm excited about this. It what all the things that are being said right here in, in this statement are really leading to the fact that you know we've got a decade in 12 years. Chip. A lot of things have been happening with the XRPO a lot towards institutional growth. If we go back and we look at from the inception of Ethereum to where we're at today, we're not seeing monetary changes or you know, monetary impact within the financial institutions. Global payment rails that's not happening with Ethereum, not happening with Bitcoin. Per se. But the XRPL is the system that has the technology to allow this to happen hands down. Now there's a lot of other chains that have significantly more success than the XRPL going into the blockchain crypto community. Obviously if you relate back from the blockchain to the crypto asset, XRP is still in, in that top grouping. But Ethereum, Bitcoin, from a valuation perspective, you know, far supersede, you know, anything that XRP is accomplishing at this moment. Building wise chip, I think the xrpl and we've always talked about that, that technology wise, there's more tech in the XRPL to bring about a adoption into financial institutions to have a more direct impact on business and beyond than any of the other chains.
- [08:37]
B
Yeah, and it's, it's a whole different time. I mean, look, just with the, with the acquisitions ripples made and we're going to get into something a little bit in just a few seconds here. We're going to talk a little bit more about this. You know, usually when you get a interview with Brad Garlinghouse and Maria Barcelona, it's like three minutes. They're always like three to four minute segments. Right. They get them in the, get them out. Right. When you start getting into the interview, they're like, okay, let's go on the next one. This is a long one. When I say long, it's longer than 3, 4, 5, even 10 minutes long. But there's a lot of stuff dropped on this thing. This is boom, baby. And I think that's one of the reasons that, that I'm very bullish now after listening to Brad and really kind of understanding a little bit about what this clarity act really means. The, to the Ripple world, but also the XRPL community. You know, this clarity is one thing, but what it's going to do for. Well, let's just play this. We'll, we'll get into it. But again, I didn't listen to anything. I saw excerpts. But I haven't watched the entire, the whole, you know, interview. So we'll watch it together, we'll sort of comment. I don't like to pre watch these. Only watch one little segment that somebody pulled a clip from that wasn't 14 minutes long. So. But let's listen in and we'll stop it periodically. But this is a great interview right
- [09:50]
C
now with the CEO of Ripple, Brad Garlinghouse, who's been a friend of this program and a regular on the show. We so appreciate you joining us once again.
- [09:58]
D
Great to be back as always.
- [09:59]
C
And of course here we are at a moment in time after massive volatility, not just for the broader markets, but for crypto in general. So how has that impacted your business that we've seen this drop off in valuations? What are you seeing?
- [10:11]
D
Yeah, the crypto markets definitely kind of ended the year last year with some headwinds and it started this year in kind of a flat ish. And I think a lot of eyes are on what is U.S. regulation going to look like and is it going to get done For Ripple at our core we've been on a tear. Our business has been growing very quickly. We do care deeply about the health of the crypto markets overall. But to some degree our technology, it's just a piece of our technology. And so we made two big acquisitions last year year, both for over $1 billion. And both those have really overperformed our expectations. Company we bought now called Ripple treasury, which is a Treasury management platform. Think of it as a dashboard for CFO's ability to manage liquidity around the world. That is way ahead of our forecast for both the end of last year, but also even Q1, we're going have a record quarter. And then we bought a prime brokerage business, the largest non bank prime branch brokerage business. It was called Hidden Road, now called Ripple Prime. They also have tripled their revenue run rate since we announced that acquisition.
- [11:14]
B
So just listen. Tripling run rates, doubling run rates. This is like, you know, he named it too when everything else is just stuck in the, in the stagnant, you know, not doing anything. I mean you're talking about always just killing it. So I mean it's phenomenal to hear these, these, these numbers, the change of
- [11:33]
A
names from Hidden Road to Ripple Prime. That's nice too.
- [11:37]
B
Yeah, well they have to rippleize it, you know. Of course. What does Hidden Road mean anyway? It's odd. Rebel prime, you know, it's a prime brokerage, you know, like at least their names have gotten so much better at naming products or at least on point, you know, it is what what it says it is, you know, which is great. And the in the treasury part of
- [11:54]
D
it as well since we announced that acquisition. So super happy with both those. But all of that is in service. So how do we make XRP as a digital digital asset more useful, more trusted with higher utility. That is our north star of how we think about the world.
- [12:09]
C
Let me go back to some of those acquisitions because you are expanding your business with all of these different revenue lines right now. And giving you this moat. This is important to investors. Tell us about the how CFOs are reacting to Treasury, Ripple treasury and also in terms of, of prime brokerage. I mean this gets you in a completely new business.
- [12:30]
D
Yeah, for sure.
- [12:31]
A
Yeah.
- [12:31]
D
So Maria, I think it is a fascinating time and place and in part because of what's going on with stablecoins. You have boards of directors and CEOs at companies whether it's a Fortune 500 or Fortune 2000. They're asking their treasurers, they're asking their CFOs saying hey, what are we doing with stablecoins? Last year G Treasury, the company we bought, now Ripple treasury, they orchestrated $13 trillion of payments. Zero percent of those were through a stablecoin or crypto. That's the opportunity and as we slowly integrate the ability from those dashboards, say you're making a payment to the Philippine peso. You could send it to the traditional rail, it'll take three to five days, it'll cost this much. Or you can send it to be there one minute. And giving the treasurer and the CFO that option is really, I think the unlock. And again we're seeing a ton of interest and it's partly because people are more aware of what's going on in stablecoins in general. You had $33 trillion of stablecoin trades last year. It's, you know, this is kind of as Citibank analysts called it, it's the chat GPT moment of crypto is that people are seeing stablecoins as the kind of the entry point into other blockchain based and crypto solutions.
- [13:44]
C
Absolutely. And it's also enabling so much transaction for individuals and businesses across the world which we had not seen before for sure.
- [13:51]
D
I mean people sometimes don't fully, I think understand is the unlock for that small business that has contractors around the world or wants to work with a consultant and you know, being able to facilitate cross border commerce and a low friction. We have called it Ripple. From the beginning of time. We need to enable an Internet of value. The Internet allows us to move information around anytime, any place. But value still, I mean you may have seen just last week PayPal announced you can finally, after 13 years, you can finally move money from Venmo to PayPal. They own both. But before you had to go through a bank to get back in. The interoperability between payment networks is happening and it's going to unlock a lot of opportunity, interoperability, financial success for a lot of companies.
- [14:35]
B
Those words, interoperability, Internet Value stuff has been around forever.
- [14:39]
A
Right. And he hit on something in the
- [14:41]
B
background or something playing in the background.
- [14:43]
A
He hit on a lot of real critical points, which is really important. Right on.
- [14:49]
E
Right on.
- [14:49]
B
Yeah. I was like, I was wondering what was playing in the background with his other videos. I kept hearing something in the background. I was like, I was like, what the hell is the planet in the background here? But it's good.
- [14:59]
A
It's amazing. It's amazing to see this, to see what he's talking about with the interoperability development, you know, all the things that he's forecasting that are occurring right now. Talking about the stablecoin, talking about the movement of currency, you know, the. Just all this stuff resonates. The big one is what he's talking about giving the CFO the opportunity to say, I want to transfer it in one minute, I want to receive it, I want it now. Right. Or, hey, we'll do it the traditional route. That's okay. Based on our transaction, we, we want the slow rail. We want to move the money slow. We want it to be there in three to five days, you know, but I, I don't know that that's even going to be needed if you can grab it, throw it into escrow, do something with it along the way with the stable coin, and don't even give them access. I mean, there's so many good points to what he's talking about right now. Yeah.
- [15:51]
B
What I like about Maria is like, you can, you can see that she genuinely, like, respects Brad. She, she's had him on a lot of. She has really in depth conversations, but she kind of knows her stuff too. She's not, She's. It's very different than when, when he goes on Fox Business and they're like, yeah, they name a couple buzzwords. She, like, gets into some deeper conversations. She starts opening up about the questioning about like some of these other acquisitions. So it's always a really good interview because a lot of times, you know, you don't really necessarily get deep enough to really extract stuff. And I thought this was a, a lot of stuff came out here that we just haven't heard in some time. It's good to see it repeating. But that treasury, when you have a CFO managing liquidity is the biggest problem. Liquidity is the biggest problem in crypto, but it's also the problem with companies. So, you know, if you have money sitting over in Europe and you got a shortcoming over here, like, to be able to manage that on the quick is a Huge, huge boost. So it's understandable why the growth has been so big.
- [16:47]
C
That's the key. And that is a great example. After 13 years, we finally actually see this happening. Now, look, we've got to also talk about policy, because policy has enabled this. And we saw last week the securities and Exchange Commission and the CFTC say, look, we are coming up with a specific framework and identifying what's a security, what's a commodity. How important was that?
- [17:08]
D
I'm. I can't overstate. That was a massive step forward. And I.
- [17:14]
B
But, but meaningless, Jeff, but meaningless. It was a great step forward, but that's what you get with the crypto president in a crypto administration. But a new administration comes in, it's gone. Just like it gets wiped. Just like Gary Gensler got wiped. I know it's exciting, but it doesn't mean anything.
- [17:30]
D
Partly say that with the backdrop of, in the industry, we lived through four years of a Biden administration that was waging a war on crypto. This never made sense to me. Like, crypto is a digital technology. Like, it's almost like saying we're going to wage war on email.
- [17:45]
A
We don't like email.
- [17:45]
D
So it makes no sense to me.
- [17:47]
C
But waged war on oil as well, right?
- [17:49]
D
Yeah. So they waged this war on crypto and you had agencies like the SEC who instead of engaging in thoughtful rulemaking, they just sued. It was, it was lawfare. It wasn't. It was just, let's attack these companies and drive them offshore. And so I think it was nine days ago that the SEC and CFTC came together, this joint announcement and made a big step in just acknowledging here are 16 digital assets which we can concretely say are commodity digital assets. That is a huge step forward compared to where we've been.
- [18:24]
B
Except it's all opinion, Jeff, because it's not root, remember, you know, it's not rooted in any legislation. They just made it up. And remember, remember what Chevron. The Chevron over being overturned saying that agencies can't interpret or make up new rule sets unless it's based off of legislation. Because this is what was happening quite a bit. So again, it's, it's a fun thing. It's like, yay, let's ring a bell. It's fun, but it doesn't mean anything in the long term. That's why the Clarity act means something. But it just drives me crazy how exciting. Like the SEC is going to tell us what digital assets are. Okay. And these 16 are okay, but the rest of them, we don't know. It's ridiculous, Jeff. It's just absolutely insanely ridiculous that. That this is where we are in 2026.
- [19:08]
A
Then we certainly give us the exact test that they qualified. The other six, though, it's not.
- [19:14]
B
But what do you do that 33 and 34, you know, securities Act 47. Like, there's nothing that you can define it with. It's just an opinion.
- [19:24]
E
Right.
- [19:24]
B
It's no different than Gensler saying, oh, crypto's bad, and it's used for bad, you know, nefarious purposes. It's the same thing. He's flipped it to a different administration.
- [19:33]
A
And that's exactly the point. You flip flop administrations, you get a different opinion. Without regulatory clarity, it's going to change. So let's say three years from now, you have different sec, different administration. They. They're no longer. No longer friendly with crypto. All of a sudden, it goes the other way.
- [19:50]
B
Unless you have.
- [19:52]
A
Without legislation to see more.
- [19:55]
D
We want to see this codified in law in case there is another. The former chair of the SEC was a guy named Gary Gensler, who I think really did act in bad faith around this. We need very political, very political, very much influenced by his ultimate boss, Joe Biden. And so we want to make sure that we can't have got a shot
- [20:13]
B
in there taking a shot maga. Brad. What in the hell, Jeff? He could have just said the old administer. Oh, no. He had a. Oh, no, no. He had to get it in there.
- [20:26]
D
We need very political, very political, very much influenced by his ultimate boss, Joe Biden. And so we want to make sure that we can't have another Gary Gensler moment where they try to, you know, weaponize policy in a way that is about politics, not about what's good for
- [20:42]
C
the United States, which is why we need to see these things codified and we need to have Congress's role here. And that's what we're waiting for right now. We had the Genius act. That's sort of in the books. We don't want to reopen that, by the way. I know some people would like to, but then there's the Clarity Act. Tell us how important these two pieces of legislation are and what they do for Ripple and the overall industry.
- [21:05]
D
So the Clarity Act. I was on your show not a little over a month ago, and I predicted that by. We'd see the Clarity act signed by the end of April. I'm going to say that the likelihood of that has gone down, but I said by the end of. I'll say by the end of May. So give me an extra 30 days there. Everyone's still at the table. We're still making progress. Ultimately, there's going to have to be a compromise on this key issue around how rewards are managed. And Ripple doesn't actually personally have a dog in that fight, but we think to get Clarity act for the industry, for the US to be competitive to the US to these entrepreneurs, not to move offshore, for crypto capital and investment not to move offshore, we need the Clarity act to get done. I am very optimistic. I was at a dinner two days ago in Washington, D.C. sat next to
- [21:50]
B
people who are much smarter than name dropping.
- [21:52]
D
What I am about how law gets made, I'll say, you know, watching the sausage getting made here has not been pretty, but they gave me more optimism that we are going to get there. And the point that one gentleman said to me is like, look, when people are at their most frustrated is when you finally get it done. Because people will compromise. Yeah. And from this White House, we're seeing amazing leadership to push this forward. And so I think we're going to get there. It's just take a little longer than we thought.
- [22:18]
C
So what happens to Ripple once clarity gets passed?
- [22:21]
D
Well, it won't change Ripple's business too much. What it does is it unlocks the banks in the United States who have been a little bit fearful about, should I lean into this industry? What if there is a future? Gary Gensler. And then what? How am I going to unwind things? So if we get that codified into law, it's a big unlock for the banks around the world, particularly in the United States.
- [22:42]
B
Boom. That's it right there, Jeff. That was the big. That was the big one right there.
- [22:45]
A
Yeah. Let me ask you this question. How is it that we can read through the. The lines. We see all of this. We've explained it, we've told what he just said. He said succinctly what we were talking about a minute ago. Without regulatory clarity, it can be changed. The rules that they write today can be undone by the next sec. Why is it that everybody gets so excited when they hear the mundane, when. When they know for a fact this is how laws get written, this, how it gets cod. Codified, you know, then without that, that means, you know, we're just subject to constant change and it's just ambiguous. But here we are, we talk about this. We've dissected these things and we've talked about this for months. Really, the past couple of years, always. Right. We're always analyzing.
- [23:38]
B
I think too part of it is, is that what most people want to do is they want to say, oh, because someone said to me the other day, like why do you do a crypto show that has politics? I'm like, because they're so related, they're intertwined. You know, decentralization is what everybody wants. I don't care what government you have. And the other thing is what the people want. Governments always are often against. And we're seeing what's coming up with the bank worried about outflows. I mean, Jeff, do you really give a crap if, if you get yield on a stable coin? I really don't care. I'm not going to store a stable coin in a do I care? Like I just put in crypto, you can, you can get yield on XRP 5 to 8%. Some people are getting 9, 10 on XRP. I don't think it matters. I think for the general public, the bigger question I wonder about is who are these people in Congress that are going to dictate how Americans can, can earn money and how the banks can give it? Because you're basically, you want to talk about antitrust and, and, and shutting out competition. They're trying to codify legislation that shuts down competition. We're going to ensure that the banks don't have competition so they can continue playing 0.25% interest or 0% interest because we certainly don't want 4 or 5. Because they're making 4% on your money right now while on millions, if not billions of dollars on the back end and that they don't want to come up with a new way to make money. But who are these people in Congress that are anti American that do not want you to have the opportunity to have a competitor who can say, well, we can pay 5% on stable coins. This is crazy to me. Like, it's a bigger issue than. I personally don't care if, about the, if I am going to leverage stable coins for your yield. But it's a bigger issue that who are these people who think that they can say that. Oh no, no, we're, we have to. The banks, the Democrats. The banks give us money. The Rhinos, the banks give us money. We got it for our campaign. It's, it's shutting down competition. And this should never be anything codified into law where you dictate what a competitor can and can't do to earn, to, to make, you know, to give a better offering.
- [25:51]
A
Right. And that, and that's a great point. You Know the, the aspect of the stable coin. What the stable coin will do is to help simplify the movement of money to somebody else.
- [26:06]
B
Right.
- [26:06]
A
If I wanted, if you're overseas and I want to hold my, you know, my US dollar in the RL USD and then I want to send it to you, I, I can easily send it to you in seconds. We don't need the transaction through banking. We don't need any of that infrastructure. While I'm holding my money in the rlusd, can I earn some sort of an interest or a yield on it by where it's sitting in a money market account where it's not at risk? You know, so it just simplified, I put it in a quote unquote checking type environment so I can earn yield without risk. I think that's what people really want because there's a lot people out. Everybody has a different risk tolerance. So if I put my US dollar into an account right now, but I, you, you have limited access to that dollar when it's sitting in the bank because you can either do a bank transfer, you can do a wire, you can do an ach, but it's ne, it's never instant. You're not getting the money today if you want to move it to yourself, even up. And so I think that's a big component of it within the stable coin. You know, it gives you other options. So it's definitely a big play. But to your point, you know, I mean it's really, you know, at this point there, there's so, there's so many more factors and it, and that's why I was looking at some of the comments here, you know, visual vendetta said we just need all this personal security and rails in place before we leave the security of the banks. I don't, I don't think that we're leaving the security of the banks. I think the majority of the people, and this goes back to the argument who are the banks? Because if it's a crypto exchange, that's your bank. I don't, I don't care what you want to call it. If your money is sitting there and you can earn a yield on it while it's sitting there in a wallet and they're the ones that are protecting it and you get some form of FDIC coverage, security that it's there, that's what everybody wants. That's the security. People want to know that if something happens, their money is covered, that they're, they're not subject to. I've got, I'VE got gold bars in my safe. And if my safe gets broke, my house gets broken into, my gold bars are gone. That's kind of how we're operating right now. If you lose your key. Yeah, yeah, exactly. Gold bars or bars. We got gold bars. We drink at the gold bar. But here's. So then Devon said, Steve was saying, he said, yeah, true, but we still need banks for some years yet. After all, the public will also be slow to it up. And this is the whole point. It's the general public. In order for mass adoption, for all, all this to move, you need protection in place. It's banking. I don't care how you call it. You still need banks, you still need mortgages, you still need car loans, you still need all that. Is it the bank that's going to do it? Is it the crypto house, however you want to phrase it? People still need to be able to leverage credit. Credit's going to be issued by a third party. That credit is going to be based off of your paying an interest. Is that interest rate going to come down? Because it. You're simplifying, you're cutting out the fat. Because now they can make more or less however, you know, can you make more leverage on your asset? I think there's a lot of variables that are going to unfold, you know, so it's very interesting. There you go. That's. That's an interesting point there.
- [29:28]
B
Yeah. And then remember that, remember the video with Tim Draper who basically predicted it, all right. Talked about them getting angry and then eventually they capitulated. The end. And it's kind of. He totally nailed that. That still was probably one of the greatest videos ever. I'll see if I can. I might be able to find that. Yeah. Everything he said was exact and he said it right. The Gensler's face. Now this is before Gensler was actually the chair. But how appropriate was that that it turned out that way? Let's, let's finish this interview. We'll move on.
- [29:56]
D
We have seen banks say to us, look, we understand that you won the lawsuit and you have clarity that XRP is not a security. And last week, obviously that's another great step forward. But if we get it codified into law, I think you'll see more of the largest financial institutions in the United States and really the world lean in more to this industry.
- [30:14]
C
Tell me more about xrp. And with the main use cases are so that our audience understands how it impacts them.
- [30:21]
D
So xrp, much like Bitcoin, is an open source Digital asset. There's a blockchain called the XRP ledger Ripple as one of the primary participants of that ecosystem. We really use it primarily around payments. There's some other things we're doing around settlement for the prime brokerage business. But we're seeing entrepreneurs because XRP is so fast and out turns terms of transactions and so low cost and also energy efficient. You're seeing more and more developers and entrepreneurs build on top of the XRP ledger and that's around things like tokenization of real world assets. We're working with Guggenheim and a money market tokenization or the Land Authority of Dubai is doing land registry on the XRP ledger. There's lots of examples and it's really how do we take blockchain efficient, highly scalable, highly, you know, very fast and low cost blockchain technologies to enable these settlement technologies that I think are going to continue to rewire financial infrastructure around the globe.
- [31:20]
C
And the acquisitions that you made sort of complement one another in that regard because you've got treasury, but that's going to complement what happens in the brokerage for sure.
- [31:29]
D
I think I've been very happy about how those acquisitions have gone and think people see how we're stitching these pieces together. Some in crypto I think have done acquisitions that are intra crypto inside the echo chamber. We've only done things kind of outside the echo chamber because we think it's really about how do we build those bridges between traditional finance and what we call decentralized finance or crypto. And you know, both treasury and Hidden Road both are just tremendous examples of that. And we're seeing their clients, they want to lean in. And so we're seeing great adoption and excited. I mean 2026 can be a record year for us for sure.
- [32:02]
C
Congratulations on that. That's incredible. When you think about what's going on with traditional financial services, little by little they're leaning in. It took them a while. But how do you think the competitive landscape changes now? Now that you see the big guys understanding what has been taking place under their noses, but they didn't want to get involved.
- [32:20]
D
Yeah, it's been interesting to see and I'm sure you've seen this, that you were your guests, the people you've interviewed. You know, we went from kind of it's rat poison to that's pet rock to, you know, you remember some of these quotes. I think they were on your show and now people are kind of. Some of those same leaders are coming around and saying, oh, okay, I see how These technologies. And look, I'll give Larry Fink at BlackRock Credit. Like he was one of the first really senior, well respected leaders to step forward and say, no, I do see real value in real technology value to how these technologies can be applied. So we are seeing a shift from the JP Morgans. We're seeing a people start to be more exploratory. Oh, okay. How could we use stablecoins? How could. And it's really also driven by customers. Right. As I said earlier, the CEOs and boards of directors of companies across the United States are asking their finance organizations, are we using stablecoins? Should we be? Are they more efficient? Because remember the other unlock around stablecoins is now you can access them and use them 24 7. They don't close at 4, 3 o' clock on a Friday afternoon.
- [33:24]
C
Really important point.
- [33:26]
D
Settle a real estate transaction on Saturday. It's a big shift.
- [33:29]
C
Yeah. And stablecoin is real blockchain is real tokenization as well. Do you see most markets getting tokenized?
- [33:37]
D
For sure. You know, when I started this job@ripple 11 years ago, I had a lot less gray hair. And you know, it's finally we're seeing the unlock where people are now. The only thing I'll say about just the tokenization topic, sometimes I hear people talk about tokenization like, well, we can tokenize that. And I think we have to ask ourselves, does it improve something? Is it make it faster? Does it make it better? In some ways, tokenization just for the sake of tokenization doesn't really make sense. You know, Silk and Valley has a reputation sometimes of having a technology in search of a problem versus a problem in search of a technology. And so tokenization I think has very valuable applications. But there's some examples that I see that I'm like, I don't quite get it.
- [34:20]
C
All right, Brad, you've had a record year. Things are going incredibly well and we see that growth. What does the year ahead look like? Tell us where the growth at Ripple comes from in the coming one to three years.
- [34:32]
D
The biggest thing for us in 2026 is really just we made two big acquisitions last year. We increased our headcount by 50%. Integrate. Let's make sure that we digest some of that as opposed to just run, run, run. Look, our industry is a very dynamic space. We will certainly continue to look at investments. We've invested over $1 billion in the last year in other projects and continue to look, look at playing offense in certain ways. But for our internal execution, it's Going to be really about making sure that Ripple prime starts to take advantage of the opportunities we have. With Ripple's balance sheet brought to bear in the prime brokerage business. And then again, the Ripple treasury, really, the corporate demand here is growing incredibly quickly and we want to make sure that we are doing that in a really good way, that they're very happy with Ripple Treasuries business.
- [35:21]
C
So, so does the growth come from the corporate, corporate area? Does the growth come from the prime brokerage?
- [35:28]
D
I mean, I'm going to say yes. You know, as I mentioned earlier, the prime brokerage business, we've already tripled the revenue run rate. You know, that already has happened and that's partly because we have a much bigger balance sheet. There's a lot more we can do with counterparties to some of the largest financial institutions out there. Didn't really want to work with Hidden Road as a smaller player. But now as Ripple prime, they're like, oh, okay, we trust that as a counterparty we can do more with them. So that's been a great unlock for us. But again, you know, it's going to be less about another new business for us as opposed to how do we bring those businesses together. And there's a lot of synergies between them and we haven't quite unlocked all of that yet. So it'll be good.
- [36:07]
C
What a time to be alive for sure. Brad, thank you so much. We'll be watching. Come back soon. Brad Garlinghouse here. So stay with us. We'll be right back.
- [36:15]
A
We'll be right back.
- [36:16]
B
What do you think about that? It's pretty strong, isn't it?
- [36:19]
A
Man, I, we watch, we watch his interviews and you know, every single one of them, he's always positive. Things are always moving forward. There's always developments at Ripple through the worst of times, the hardest of the lawsuits. He, the lesson you learned from a CEO like that is that he promotes the positivity. He exudes the positivity. And, you know, they overcame, you know, against unsurmountable, surmountable odds that here you had an SEC backed by an administration that wanted to decimate crypto, decimate blockchain, and they put all the, every resource the government had against them. They crushed other companies, right? Library got crushed.
- [37:11]
B
They got crushed.
- [37:12]
A
These guys, Garland House could have, you know, they could have said, look, you know, we're not going to spend $150 million in legal fees. But they fought it and they came out again, you know, and, and it, it was so important. That lawsuit, the victory at the end to show that XRP was not a. Terminology, you know. But this is, this is so, it's so vital right now I. To see where we're sitting, you know, and I'm looking at.
- [37:47]
B
It's a good vantage point.
- [37:49]
A
It's such a great vantage point. Here's, you know, Charlie saying there needs to be an antitrust lawsuit against banks when the Clarity act passes.
- [37:57]
B
Right.
- [37:57]
A
You're locking on, cops locking out, everything. There's so many things that are going to be happening here. Here's. Look at.
- [38:03]
B
There's some call we got into a little bit of the VV platform. The other thing seems solid. Nothing I'm into, but it seems like it was decent. Look at this right here. So things need to get tokenized votes. Titles, stocks, investment and IDs. And then Jim D. Says don't forget tokenized pet and marriage license.
- [38:24]
A
Yes.
- [38:24]
B
Also needs to be on the list.
- [38:26]
A
No, it does to that. That's an important thing. You know, think about your driver's license. Tokenized, you know, I mean it just. Well with it at least in the blockchain format.
- [38:36]
B
Yeah.
- [38:36]
A
In a digital format, somebody dies. Death certificate takes them off the voter rolls immediately or has to have an approval process. You know, goes through some double check. But this is a big issue like all the whole thing, the whole cycle is. Is really important, by the way. A lot for good and bad and a little some of it. Stepping over some lines here that I don't know.
- [39:00]
B
The video Tim Draper and Gary Gensler. This would be a good fun one to watch. We've played it so many times and I was able to pull this clip and this is one that Tony from thinking Crypto popped Jamie Diamond.
- [39:12]
A
So let's bring it back to Jamie and JP Morgan. What do you think's going to be the.
- [39:17]
D
The thing that they will have to
- [39:18]
A
change the most or lose market share and somebody else is going to do better, faster, you know, serve their clients
- [39:25]
D
better than JP Morgan or Goldman Sachs.
- [39:28]
F
You can, you can just hear the bankers panicking right now. But what just what feel the panic in their voices.
- [39:37]
D
But here's business is most.
- [39:38]
B
Well, here's what the other thing I love too is. I don't know who's running the soundboard, but his microphone is so far away from him and it's jacked up to like a 12. No matter what happens, he overpowers against her. It's like he's like, you can roll the prank. I'm like, holy Tim. And there's little meek Gary Gensler. I know, but you call him in sex. What a douchebag.
- [40:06]
F
But here's what always happens first. The first thing that happens is they try to go, oh, it's nothing. And they did that. I mean, that's with every new industry. Every new technology comes along, the powers that be, the incumbents, the status quo, all say, it's nothing. Don't ignore the man behind the curtain. This is nothing. And then all of a sudden, it's too big to get in there. You know, they're going, oh my God, I gotta face this thing. And then they all line up and they wrap their arms together and they say, we're not letting this happen. And then it keeps going. And then they say, okay, well let's, let's go after, let's sue them or let's go get the government.
- [40:51]
A
There's another thing.
- [40:52]
D
They adopt the technology, I think.
- [40:54]
F
No, no, that's at the end.
- [40:56]
D
They will adopt.
- [40:57]
F
No, this is the last thing they do. No, it's after.
- [41:01]
B
It's after, right?
- [41:02]
F
It's after the, the, the press play, planting. They plant the press stories, they put out lawsuits, they create as much of a fuss as possible. They try to get their government friends involved. And then they go, oh God, this thing's happening. And then they go, okay, what are we going to do? How do we get it? So then they either make or buy, as all great companies do. They go, am I going to make this or am I going to buy it? Am I going to make a, an exchange or am I going to make a new kind of wallet? Am I going to bring it in so my clients can use this?
- [41:45]
B
Eight years, Freaking so on point. Thanks for recommending that, Steve. That was great. It's always a good one to have. Great one that was good to be able to play. I mean, my gosh, is that so on point? Holy cow, what a great one.
- [41:57]
A
Amazing.
- [41:58]
B
What a great one. Gensler didn't like the referral to the little man behind the curtain. That was funny. He said, then you sue them. Then he mentioned the government, but as the government official, he did one of the biggest ones and Ripple took him down. And that will forever be an embarrassment to the little man behind the curtain. I love that. What a jackass. I mean, this guy, remember all the memes that it was like, you know, clown show this. And that was non stop. It was just incredibly, you know, should
- [42:30]
A
have resigned way before, you know, Right?
- [42:33]
B
I mean, yeah, I mean, but he, he stuck the 10 year out. A guy that used to teach blockchain for three years, all of a sudden became, you know, some other dude. Here's Moonpay. Like, here, Jeff, do you remember?
- [42:45]
A
Of course, not many people know that Gary Gensler has a very good body. Underneath the suit he always wears, the guy works out hard. He's not gay, by the way.
- [42:58]
B
Surex gay. But I'm just saying,
- [43:02]
A
I wonder if he works out with. With Kennedy, with Robert, you know?
- [43:08]
B
Do you remember, Jeff, the. The Bud Light commercials from like, like late 99 or 2000. It was like. It was like 98, I think was.
- [43:16]
A
Ah.
- [43:16]
B
Remember those commercials? You guys are old enough to remember those. Like, and then we call some. Hey, Dookie, what's up?
- [43:23]
D
What's up?
- [43:25]
B
Right. Well, Moonpay thought enough time had gone by that they would redo it, because with their new product, that sounds very similar to what's Up? And this is the Moonpay video. And I immediately captured. Here we go. Yo, big dog.
- [43:39]
A
What's up? Just chilling. What's up, bro? You already know. Just locking in, building on Wap Wap. Whop. Yo, call up Dookie.
- [43:50]
B
Yo, what's up?
- [44:05]
A
So what's up, Wap? You
- [44:11]
B
Moonpay, Wap. I like it. I don't care if it's a reinvention on the whole thing. It's still funny. It's still good. Yeah, it's. It was someone.
- [44:18]
A
Someone thought about that. They're like, oh, this is gonna be great.
- [44:21]
B
Cut it together nicely. It was very good. I'll take it.
- [44:24]
A
It's funny.
- [44:25]
B
Sure. Sometimes you got to bring stuff back and reinvent it. Always a good thing, never a necessarily bad thing. I wanted to get in Rubio first,
- [44:33]
A
but it was good.
- [44:34]
B
Let's jump into Rubio. Rubio was talking to the press. This is Rubio. You know, of course, one of the things, I think the. The greatest thing that happened is Trump has taught Rubio how to, like, punch people in the face. He was pretty good at it before, but he's gotten a lot better at it. He's been studying. Right.
- [44:54]
E
Mr. Secretary, on Cuba, two questions. So for decades, you have been a proponent of regime change, but now there seems to be a sense that perhaps President Trump would be happy with a win, which would only entail an economic deal. So where do you. Where there is a lot of report. Well, there is a lot of reporting that. No, no, no, no, no. Any reporting on Cuba that you didn't get from me or the president. Liars. Do you still want regime change? I'm just warning you guys all, there's
- [45:26]
B
a Lot of reporting. Okay.
- [45:29]
A
It's only two people responsible. You're talking to one or two.
- [45:33]
B
Yeah, okay. There's a lot of reporting.
- [45:36]
C
It's all wrong.
- [45:36]
E
But these sources that are pitching you on Cuba don't know jack. Okay? They're not in the mix, okay? I promise you. They don't know what they're about.
- [45:43]
B
Regime change or.
- [45:43]
E
Would you be okay with an economic deal? No, you need an economic deal. No, Cuba's economy needs to change and their economy can't change unless the system of government. It's that simple. Who's going to invest billions of dollars in a communist country?
- [45:57]
B
Folks, as I've stated, you're looking at the next President of the United States. Okay? This is ass kicker number two right here. Okay? What do you mean economic? He doesn't take. I wish he would have said, you don't know jack. That's what he said. He held back his Secretary of State. He's a little decorum.
- [46:17]
E
Invest billions of dollars in a communist country run by incompetent communists, which is even worse than communists. The only thing worse than a communist is an incompetent communist. And so their. Their system of government has to change because they will never be able to develop economically without those changes. Economic change is important. Giving people economic and political freedom is important, but they come hand in hand. They come together. Is there a deal? I don't know why there's any confusion on. Is there a deal where for you, where Castro family remains in place and that. Not about the Castro family. It's about a system of government in a regime that doesn't work.
- [46:48]
B
He's just making mincemeat of these guys. He's just destroying them.
- [46:53]
A
Stupid.
- [46:53]
B
So stupid. I mean, like, look, man, this isn't 20 years ago when a Republican would just like, cower and run in the corner. No, no. We're not playing games anymore.
- [47:01]
E
I didn't come all the way to France to talk about Cuba. Let's talk about Cuba. It's perfect. I'm happy to do it because we actually talked about it. We cannot not ask this. No, of course not. Plus, we talked about it, okay? Everyone talks about these blackouts. Cuba's been having blackouts all of last year, all the year before. There isn't a naval blockade surrounding Cuba. The reason why Cuba doesn't have oil and fuel because they want it for free. And people don't give away oil and fuel for free on a regular basis unless it was the Soviet Union subsidizing them or Maduro subsidizing them. They just don't do it. They may get a shipment here or there now and then someone, but not enough to sustain their country. Okay, so that the reason why they're having black that's why they don't have fuel. And the reason why they're having blackouts is because they have equipment from the 1950s and 60s that they never maintained. But ultimately the reason why she was a disaster. Their economic system doesn't work. It's a nonsensical system. And the people of Tuba are suffering because of the decisions, because of the unwillingness of the people who govern that country to make the changes that need to be made so they can join the 21st century. It is sad that the only place humans can only be successful if they leave the country. That's a very sad thing. You see, Cubans go all over the world and find things that's. Except include that hasn't changed. And for that to change, you need to change the people in charge. You need to change the system that runs the country, and you need to change the economic model that it's following. That's the only way forward if Cuba wants a better future. We've expressed that clearly and repeatedly over many years. And maybe now there's an opportunity to do it. We'll see.
- [48:33]
B
By the way, there was so much engine noise, I had to remove it. That's why the audio was a little garbled, but you could almost. It was like when he was talking, I was like, you just heard the engine? The engines. I'm like, oh, my God.
- [48:43]
A
You can.
- [48:44]
B
So even though it's a little garbled, it was a lot clearer than.
- [48:47]
A
Than they don't have noise cancellation on their microphones.
- [48:52]
B
I don't understand why they don't have noise cancellation. I mean, come on, man. This is 2026. We have it on. This dog gonna be barking right here, and you don't even hear it. We have noise cancellation. Just two. Just two guys, Jeff. Two guys do a podcast.
- [49:04]
A
Exactly. Blackouts in Cuba that there was a Yet there was a load of visitors over there with power in their hotel 24 7.
- [49:12]
E
Not only.
- [49:13]
A
Not only they have it 24 7, but they're partying. 24 7. It was just the whole. Whole trip over there was just to show the trip out was the show. Once they got there, no one cared. They didn't do anything. Just a bunch of feckless people. They have no purpose in society. They have zero purpose in society.
- [49:36]
B
Jeff, by the way, you know this past taco Tuesday, you want to see what Trump unveiled? Check this out.
- [49:41]
A
Ask you a question.
- [49:43]
B
Oh, sorry, wrong one. What is going on, people? Who's running the video? I'm like, Tuesday. I know, but where's the taco? Tuesday one. There it is. Okay, here it is. There it is. It's very cool. A sombrero. Neglect a sombrero. How funny is that, man? Of course, it's not real, but it's very cool. Very cool. Humor with sombrero, eating a taco. Isn't that great? That's fantastic.
- [50:15]
A
It's the best.
- [50:16]
B
And Trump, he's just so funny off the cuff. What a great sense of humor. Listen to this about. Listen to what he says about Scott Bessette. And Scott Bessette is just sitting there listening in the big cabinet meeting. Listen to this.
- [50:27]
A
Is this guy central casting?
- [50:30]
D
I'm looking at him.
- [50:31]
A
I mean, Treasury. He might not be so good for war.
- [50:34]
B
I don't know.
- [50:36]
D
I'm looking pretty good, too.
- [50:38]
A
I'm looking at this guy. He's central casting. Even the glasses are perfect.
- [50:45]
B
He says it's. He's central casting. I love when he says that. Central casting, you know, central casting is, you know, an acting thing, right? So it's like, you know, if you're a central. He's like. He's like. He's perfect for the role. It's like he. He looks like he fits the role. He's got everything down. Even the glasses. He says even the glasses. This is great.
- [51:02]
A
He's central casting. Even the glasses are perfect. I think I want to get glasses. That's beautiful. Great job.
- [51:12]
B
That's really good.
- [51:13]
A
No, he's done a great job. And you all have. Proud of you all.
- [51:19]
B
One of you ever heard that, an Academy meeting when he said, president says they're proud of everybody and what a great job they're doing. No, you don't hear any of that.
- [51:25]
E
It's amazing.
- [51:26]
B
You don't hear any of that, Jeff. There's none of that stuff going on where. None of it at all.
- [51:31]
A
Democrats aren't proud of anybody. They're definitely not proud of themselves.
- [51:35]
B
Well, they don't even have a platform anymore, Jeff. They don't even have a platform. By the way, the new. The no Kings and there's no Kings thing. I don't even understand what no Kings means, basically.
- [51:47]
A
Basically, they gave up. They had antifa. That's done. That's a terrorist group now. BLM caught up in fraud. So they're left with nothing. So they had to reinvent something else. Real Quick and antifa is now what. What is it called? Trans tifa.
- [52:03]
B
Transition, whatever. Pretty much gun shootings are always the trans nut jobs.
- [52:10]
A
You've got that and then you got the BLM again. Fraud. So now they got nothing left. They need foot soldiers out there doing something. And so here you go.
- [52:19]
B
So I got some video clips from the no Kings rally. Jeff, this is some good stuff right here. Look at this right here.
- [52:24]
A
It makes no sense.
- [52:25]
B
Communist rally is what it should have been called. The communists, we are us.
- [52:28]
A
They should go working class. Revolution.
- [52:35]
D
Solution. There is only one solution. Communist revolution.
- [52:40]
B
Okay, so the no Kings rally, there's. There's only one solution. It's communist revolution. Look at them with the communist flags in central. This is in Times Square, Jeff. These are some of the dumbest humans on the planet. And the humans is debatable whether they're human or not. But this is the other part.
- [52:56]
A
Who runs the Communist party? Who's the head? Who do you bow down to?
- [53:01]
B
It's a dictator. No kings. We want dictators. It should be called dictators only.
- [53:14]
E
Communist revolution.
- [53:17]
B
Why do they always look like they just lost their best friend? There's always like these sad looking people that just like, you know, maybe fell out of like a, you know, a dumpster somewhere. They're always the weirdest people. I'm like, there's so much going on with mental illness in this country, Jeff. How much more mental illness can we put up with at a single? I mean, it's getting to the point they got to bring the asylum psalms back, you know, and then this. You want to hear what the musical Entertainment was in D.C. this is for real. It's not a joke. This was part of the Music Entertainment
- [53:46]
C
in D.C. ourselves here in Hope.
- [53:49]
B
Can't hear you in prayer. We're right here.
- [53:54]
C
And we rise up from the wreckage.
- [54:01]
B
Rise courage ris spirit to guide us rise. Fantastic, isn't it? Mental illness bad.
- [54:18]
A
This is so embarrassing.
- [54:20]
B
They're screaming,
- [54:23]
A
oh, my God.
- [54:27]
B
I'm here representing Singing Resistance, which started in Minneapolis. Okay, that's enough. Okay, get on your way.
- [54:38]
A
But he closed the door light in Minneapolis. Just throw the key away.
- [54:42]
B
Wait, you want to see some. Don't ask these mental patients questions that they might start getting worried about. Listen, don't ask him any serious questions. Look at this guy. He's painted up like Trump with a king hat on. Look at this. Would you like JD Vance to be the president?
- [54:56]
A
No, I would not. Okay, yeah, probably not.
- [54:59]
B
Who would you like to be the president?
- [55:01]
A
Kamala Harris. Right Now. But she didn't win.
- [55:03]
B
But can I point out something that we say no kings and no authoritarianism. But Kamala Harris. No one voted for her.
- [55:12]
A
Yes, they did. Half the country voted for her. So let's.
- [55:14]
B
No one was voted for her to be the nominee.
- [55:16]
A
Yes, I did. Oh, my God, these people.
- [55:20]
B
He doesn't know that. Yeah. Yes, he did. No, he didn't. Look at this guy. This guy's got Doritos wiped all over his face. The king hat on. Isn't that what, like authoritarian.
- [55:29]
A
You're going down the wrong road right now with me. I wouldn't go any further.
- [55:32]
B
What. What does that mean?
- [55:33]
A
I'm not going to talk to anymore. That's what it means.
- [55:34]
B
I just think it's ironic that no one voted for her to be the nominee. They just selected her. Like a king gets selected, Right?
- [55:42]
A
Keep it to yourself, okay? This is how deranged these people are.
- [55:46]
B
They can't even engage, like, in an argument. Like, he starts asking questions. Don't you think it's a little weird? No. You know Alex Stein, primetime Stein. Alex Stein was in Dallas at the Dallas rally. This is the great. This is fantastic.
- [56:00]
A
You guys are retarded.
- [56:02]
B
You are a.
- [56:05]
E
Everybody here is a. These people are vaccinated retards. These people are vaccinated retards. These people are vaccinated vaccinated retards.
- [56:20]
B
Anybody that believes these people is a vaccinated.
- [56:25]
E
I believe this protest.
- [56:27]
B
Now the party's getting started.
- [56:30]
E
Yeah, we're here. We're having fun, guys.
- [56:34]
A
Two funny.
- [56:38]
E
What now?
- [56:40]
B
We're having fun. I mean, he was right. I think he called them out.
- [56:49]
A
DeVont. I. I would agree with you. I think there are more of them because it wasn't just what. It definitely wasn't a vax because there was no vaccine in it. It didn't.
- [56:59]
B
Well, they also changed the definition, right?
- [57:02]
A
They changed the definition in order to fit the fact that you needed boosters and boosters and boosters to the point where you needed in every single six. Whatever. It didn't. Didn't do what it was supposed to do. But anyhow. But it definitely did something because it affected people parts, it affected cancer growth, and it definitely affected mental. I mean, there's definitely.
- [57:26]
B
People used to ask me, jeff, they said, you're an anti vaxxer. I said, no, I'm not. I got the polio vaccine. I go, how many polio vaccine boosters have you had in your lifetime? Zero. Because it's an actual vaccine. That worked.
- [57:38]
A
That was.
- [57:38]
B
It took 10 or 12 or 15 years to make. And they created a vaccine that worked. That's what they call me. Anti vax. I'm like, I'm not. How many polio boosters did you get? How many diphthereal boosters you get? Here we go. Here's CNN talking about King's rally, Jeff. And you know how this is going to go, right?
- [57:56]
A
O King's rallies actually look pretty representative to me of the Democratic coalition. I saw people flying the hammer and sickle in New York City. I saw Hezbollah flags, I saw Hamas flags, I saw Palestinian flags. I saw trans signs. I see weirdo liberal boomers out there. This is pretty representative of the Democratic coalition and that's who funds it as well, by the way. And so I think if, if America looks at this and says, what do the two parties stand for? They got it at the no kings.
- [58:23]
D
No. I think if you Americans are out there,
- [58:28]
A
you like hammer and sickle. You like hammer and sickle flag.
- [58:30]
D
That's not what that no King stood for. They had a bunch of come from somewhere.
- [58:35]
B
All right, Kings roll.
- [58:36]
A
I did. I went to six.
- [58:37]
D
And I'll tell you, there's so much
- [58:38]
A
excitement, there's so much energy. Yeah, I'll get you a T shirt.
- [58:43]
D
That's a lot of free speech for a country with a lot of free speech.
- [58:46]
A
And you know, I'll tell you, there's so much.
- [58:48]
B
How come fake Tapper keeps his. I didn't know fake Tapper was there. I could. Kept his mouth shut.
- [58:52]
A
You didn't say anything.
- [58:53]
B
Fake Tapper is just like, he's. He was getting uncomfortable. He started fixing his papers. He was like, he was like, I don't know what to say. It's like fixing his papers. He didn't know what to do. You want to, you don't want to step out of line. Here's a girl talk. A lady talking about the funding 500
- [59:06]
C
groups with, get this, a 3 billion dollar budget collectively. And where does their, you know, political influence, their political contributions and their, you know, individual employee donations go, but mostly to the Democratic Party. And that's why we see the silence. And, and unfortunately they pull their punches on the issues that matter to you. For example, that you just cited because that would mean turning against the Democratic politicians.
- [59:39]
B
Yeah, Woodman turn events. But the last one I was reading, Warren Buffett gave like $3 million. I didn't know Warren Buffett was a lefty nut job. That's weird.
- [59:50]
A
Definitely a lefty. Didn't know.
- [59:52]
B
Surprised. I didn't. I was Surprised he was given the. You know, the. The big. The big money. But the best, I would say that's probably the post of the week. Had to be this. And the fact that it came from the GOP is actually a little bit shocking, Jeff. Only because the GOP is a little bit boring and weird. But Tim Tampon. Tim. Timmy Waltz put up this. No kings. He said no kings. Before that, I got a clip of Timmy Tampon. Tim. Where's Tampon Tim? Let's see. Where is he? Here he is. Here he is.
- [60:29]
A
Tampinator.
- [60:30]
B
Yeah. Listen to this.
- [60:35]
A
And I will add a special. A special thank you and a special acknowledgment that we will never leave the
- [60:44]
D
side of our Somali Minnesotans.
- [60:49]
B
The ones that ripped off the country, like 18 to 20 billion dollars. Those people.
- [60:55]
D
Here's our pledge to you.
- [60:57]
B
Please.
- [60:58]
D
Our Somali Minnesotans, your great grandchildren, will still be here. When that orange clown is in the
- [61:09]
A
dustbin of history, you will be here. Any somois in the audience? Can't see any Somalis in the audience.
- [61:20]
B
Yeah, well, it doesn't matter. They're all in. But it's a nutshells. But anyway, he put this up. No kings, right? And the GOP put this up. No queens.
- [61:34]
A
Look at him. Oh, my God.
- [61:35]
B
Oh, my God. This is. This might be. This might have won the Internet this week. Holy cow. This is fantastic. The gop, no queens. Hello, everybody. Gonna put tampons in the men's bathroom. What a nut job.
- [61:48]
E
Oh, my God.
- [61:49]
A
So crazy.
- [61:50]
B
How freaking weird, Jeff.
- [61:52]
A
All of them are crazy. Every single one of them is a nut job. Nut.
- [61:57]
B
I mean, like, you ask somebody, like, you want to let you, like, what do you stand for? Oh, Trump. No, no, no. I get you don't like Trump, but tell me what your solution is. But what are you gonna do?
- [62:09]
A
Talking. We're done talking.
- [62:10]
B
Yeah, we're done. I think we're done here. We're not gonna talk anymore. I think we're done.
- [62:15]
A
The best is you come. They come to interview someone, and there's always that one girl that comes over and she goes, no, no, no interviews. And she always whispers in his ear, right? And, oh, no, I can't. I can't talk to you.
- [62:27]
B
Because they know not to talk. Because if they start talking, it'll be stupid, right? They're gonna start doing things. Oh, my God, I'm missing a video here. A very good one.
- [62:36]
A
But on a side note, while you're looking for that other video, I gotta play this dog video, because it's just Sitting here. This is the feel good video of the century. Chip and I were talking about this the other day and we couldn't find it. And of course since we were talking about it, eventually showed up. But gotta show this video.
- [62:54]
B
This is the greatest video ever. I can. Well, every time it comes on my feet, I watch it like 10 times. I love it.
- [63:00]
A
Let me see. Why larger.
- [63:03]
B
Yeah. Why women live longer than men.
- [63:06]
A
Here we go. Why women live longer than men. This is outstanding.
- [63:45]
B
Why women longer than men.
- [63:47]
A
I can watch that.
- [63:48]
B
It never gets old. It really never gets old. You have to watch if it comes on the feet. You just have to.
- [63:54]
A
Had a dog that did that all the time. Would always. If he growl at you. She was always growling. You pet her, growling, always showing her teeth. That was just what she did. I love it. I used to do that with her.
- [64:11]
B
He had a whole channel with that dog. He does that with that dog all the time. That's the most famous one, Jeff. The European Parliament, right? This is shocking a lot of people, but here's the European Parliament and I love this girl. Listen to the. Listen to this.
- [64:27]
C
Right now I am in the European Parliament and I want to show. Okay, these mother there, do you see them? They are protesting against the new religious relation. That it's gonna pass today or hopefully it's gonna pass, but it's gonna be like one step forward towards re migration. And these people here, these are the reason why Europe is such a mess. These people here are the reason why our women are getting raped on a daily basis. They are the reason why we have to live with fear. They are the reason why our nations are in complete destruction. And they are the reason why we are allowing the invasion of our conflicts. Shame on them. They are very safe here. I have to say, to get here in the European Parliament I had to go through many, many checks. But even though here we are all safe outside on the streets, we are not. And they are the ones making the streets not safe. And of course they don't care because they are safe inside the buildings. Shame on them.
- [65:29]
B
Love it. Efforts. She's like these mother efforts. I love that. You know, people are tired of this stuff, man. They're waking up the re immigration. Well, she was indeed right. It did pass. But here's what's interesting. So the vote against the EU deportation bill. The for and against that abstained. Okay, so you have it right there. And then here we've got number percentage of respondents who feel their country takes in too many migrants. Look at Greece. 90 of Greeks think that they take in too many. Cyprus at 84, Ireland at 78. Germany at 77. That's huge numbers. That's going to bode very well for the AFC party. Australia 77. Bulgaria 76. Poland. Now, you thought Poland would be 100 because they don't let anybody in. Italy 74. Belgium 73%.
- [66:20]
A
They're all high numbers.
- [66:22]
B
Spain 70, France 70.
- [66:26]
A
Where's the UK?
- [66:27]
B
Look at that. Lithuania, lots of. I mean, the lowest One is Romania, 57. Denmark of all places.
- [66:33]
A
Where's the UK on that list?
- [66:36]
B
That's probably under 50. They're a bunch of wussies. I saw some video today from London. I was like, I don't want to play it on the channel. It's just so embarrassing. I didn't want to play it. It's just.
- [66:47]
A
It's really embarrassing.
- [66:48]
B
I'm just embarrassed for them. Another thing the EU has officially recognized, and this is huge, it's officially recognized, the Christian phobia. For the first time, the European Parliament declared Christianity remains the most persecuted religion in the world today, with more than 380 million people affected. Finally, the suffering of Christians is being seen. That is huge.
- [67:12]
A
They still won't show what's going on in Syria?
- [67:14]
B
No, they won't. No, they won't show any of that. That's. That's the whole.
- [67:19]
A
No one's wanting to talk about it.
- [67:21]
B
Oh, man. It's just something, man. It's all together something, isn't it?
- [67:26]
A
Oh, you're right, Devon. Steve, he brought a good point. UK is not on the list because it's eu. That's right.
- [67:33]
B
Oh, that's right.
- [67:35]
A
That was an EU list. Good point.
- [67:37]
B
That's right. That was E, Right? Correct. Yeah. Let's see. I got this one. Oh, here we go. I don't know why I didn't play this one here.
- [67:48]
A
Wow.
- [67:50]
B
Here we go. We're gonna have to do it the old fashioned way of sharing the screen. But I love this when you get the no kings thing. So someone makes Trump as a king, walking away from the White House, blowing up as a king.
- [68:08]
A
Meanwhile, tampon too.
- [68:17]
B
They slowed it down though. I hope, I still hope it won't get popped, but you never know. Long live the king. Trump.
- [68:33]
A
That's right.
- [68:33]
B
In Trump, he came in on, he said, yeah, I wish I was a king. We could half this stuff through. I can't do anything. I'm not a king. Well, if it was a king, he would have shut these rallies down. Right? That's what a king would have done. People Are so stupid. Stupid.
- [68:50]
A
There nothing but stupids now under Obama, they. They tried to do all that stuff.
- [68:59]
B
They try to do a lot of stuff and. Yeah, but that's it, Jeff. I think that's everything we have. I. I just had this other. Yeah, there's another.
- [69:08]
A
They caught somebody and there was a special election in Palm beach last week that went to the Democrat. But they're the. It's going back up again in November.
- [69:18]
C
But.
- [69:18]
A
But now they found. They arrested somebody because he had stolen one of the key thumb drives. And now there's more missing. And it happened before the election.
- [69:31]
B
Correct. And 800 votes. Yeah, it was at a story we had. Here's another look at. Watch this one.
- [69:43]
A
The next day.
- [69:44]
B
Stop killing dictators. Stop killing dictators. Stop killing dictators.
- [69:51]
A
Oh, my God.
- [69:54]
B
The next day, stop killing dictator. Anyway, that's all we have, guys. That's all we have. We're done. Yeah. Thanks for the smiles, guys. Appreciate it. Doesn't look at the big bang. I mean, with top tampon Timmy. That's all we have, guys. We will be getting out of here. That's it. We'll be back on. What day is today? Saturday. Jeff back on Saturday. Wednesday.
- [70:16]
A
It's Saturday. No, today's Sunday.
- [70:18]
B
I know. We'll be back on Wednesday. You know, anything going on when we couldn't. You and I both were out of pocket. Couldn't do it on Saturday. Couldn't do it yesterday Saturday. But that's it. Anything before we get out of here, Jeff?
- [70:29]
A
See you guys on the next one.
- [70:30]
B
That was. Can you use a little more enthusiasm when you say that? Oh, yes. Yeah. On the next one. See you on the next one. See you on the next one. See you on the next one. We'll see you on the next one here with us.
- [70:45]
A
You guys are amazing. I want to thank everybody out there for being here. Anybody who's new listening to us, make sure that you check us back out. Just got this group. There's all these new people joining. We've concluded we're getting. We got the algorithms pumping right now on YouTube. Happy to say so. So we're attracting a bunch of new people to the show and we'll start seeing them in the chat. So if you're brand new, make sure you guys are, you know, posting some. Some commentary. Love to see some new names up in here. So. But appreciate all of you guys. You guys are great. You guys are amazing. We got the best and the brightest, the smartest in the YouTube space.
- [71:26]
B
Come here. Yeah, I do. And I like this comment right here, Jeff, can you read? Can you read that? Or is it too to Harvey.
- [71:33]
A
Oh, there we go. What does that say? I am very high. Or is it. It's really a decent podcast. Big ups, guys. And then the response from us was, thank you. We prefer to think of it as a podcast. So good it passes the sobriety test and yet fails it at the same time. Either way, we're honored to be this chose to be the chosen soundtrack for your chemical and intellectual awakening.
- [72:03]
B
I love it. I love these people. Please leave the comments. The other guy said, like, you know, XRP is going to 50 cents. I'm like, well, not everyone is intellectually gifted as you. He's like, well said. You just got to have fun with this stuff, man. The meaner the comments, the more fun we have with it. So there you go. Make sure you leave. But it's good to see new people, new comments. Yeah, yeah, that's all we have. Chip and Jeff.
- [72:29]
A
Oh, are you down with otc?
- [72:35]
B
Please, like, subscribe and click the bell
- [72:39]
A
to be notified when the next video drops.