XRP Rails Activated | Trump Cyber Strategy & Banks Not Ready

Summary

On The Chain – Episode Summary

Episode: XRP Rails Activated | Trump Cyber Strategy & Banks Not Ready
Date: March 7, 2026

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Episode Overview

In this episode, hosts Jeff and Chip dive into a transformational week for global finance, with the US unveiling a new cyber strategy under President Trump that emphasizes American leadership in blockchain and cryptocurrency technologies. Simultaneously, the XRP ecosystem is making significant institutional inroads, expanding regulated access, and underlining the shifting tectonics of digital asset finance. The hosts frame these developments against an escalating geopolitical backdrop, particularly spotlighting Iran, the evolving role of banks, and the growing divide between traditional finance and emergent crypto rails. Special attention is given to Ripple’s technological milestone, its continued journey, and the political environment in both the US and UK.

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Key Discussion Points & Insights

1. Trump’s Cyber Strategy: U.S. Leads on Blockchain

• Major News: The White House’s new cyber strategy, emanating from President Trump, explicitly positions the US to lead in the realms of blockchain and cryptocurrency.
  • “The White House just released a new cyber strategy for America…for the first time, it positions blockchain and cryptocurrency as technologies the US must lead globally. Let me underline and underscore that. Lead right. Lead globally, Chip. This is big time.” – Jeff ([00:24])
• Significance: First official positioning of crypto as not just viable, but critical to national infrastructure and global competition.
• Implications for Banks: Regulatory friction is lessening for institutional use of digital assets, but traditional banks are struggling to keep up with emerging decentralized rails.
  • “While the regulators are lowering friction for institutions to use digital dollars, the banks…they’re facing a system that’s starting to evolve outside of their traditional control.” – Chip ([01:11])

2. XRP Infrastructure: Institutional and Global Expansion

• XRP’s Momentum: Ripple’s infrastructure now enables prime clients access to regulated derivatives, and stablecoins like RLUSD are being recognized as cash-equivalents on institutional balance sheets.
  • “Crypto derivatives expanding, stablecoins entering regulated finance…The infrastructure like the XR Pay ledger increasingly sitting in the middle of it all.” – Chip ([01:11])
• Community Stories: Listeners and the hosts reflect on “diamond hands,” long-term holding since XRP’s infancy, and growing community identification “in the wild.”
• Ecosystem Progress: Introduction of staking in Zomban wallet, yielding passive returns for XRP holders without leaving the ledger.
  • “Now with Zomban wallet, you can actually stake, which is great. Without ever leaving XRP...earning yield. It’s a great thing.” – Chip ([06:24])
• Strategic Acquisitions: Ripple’s $4 billion in recent acquisitions (including Hidden Road and G Treasury) are designed to integrate XRPL deep into global corporate finance.
  • “XRP is the North Star of what Ripple’s doing. We care more about what’s going on in XRP than anybody else…sometimes there’s a direct line, sometimes it’s one, two, three hops, but we’re doing it to drive an outcome in the XRP ecosystem.” – Brad Garlinghouse ([49:27])

3. Ripple Leadership: Resilience Through Hatred and Headwinds

• Defying Naysayers: Ripple execs recall massive media skepticism and internal “FUD” in crypto’s early days.
  • “The more vocal and the more vitriol that comes our way, the more I’m just calm about it...The amount of progress we’ve made in 10 years is truly incredible…” – Monica Long ([34:43])
• Conspiracy & Resistance: Chris Larsen, Ripple cofounder, was long “conspiratorial” about MIT Media Lab’s and others’ coordinated resistance.
  • “Chris always was a little conspiratorial about this stuff. And now…you’re like, holy shit, he’s kind of right…They were afraid of us because this technology was ahead of its time and it was a threat.” – Monica Long ([29:51])
• Infamous Snoop Dogg Story: Ripple’s attempt to appear as “adults in the room” backfired when Snoop Dogg’s performance caused a weed-scented event at an XRP community day.
  • “Snoop Dogg and his crew are in the green room…The entire venue reeked of weed. It wasn’t the best look for what we were trying to do, but it was memorable.” – Monica Long ([20:03])

4. Geopolitical and Political Analysis

• US Policy and Iran:
  • The escalation and apparent decimation of Iranian military capabilities under the Trump administration was discussed—highlighting both military and political maneuvers by the US.
    • “Their army is gone. Their navy is gone. Their communications are gone. Their leaders are gone…Other than that, they’re doing very well, coach.” – Trump ([62:49])
  • Trump’s statement highlighted Iran’s surrender to regional neighbors and US/Israeli military dominance.
    • (Full read at [68:40].)
  • Ripple impacts and defense production ramp-up were tied into broader US strategic interests.
• Political Commentary:
  • Discussion of John Deaton’s senatorial campaign, political alignment, and the importance of being ‘America First’ in the context of global leadership in crypto.
    • “If there’s one stumbling that John Deaton had through that campaign, which was not embracing Trump, it’s impossible to know that, right?” – Jeff ([11:09])
• UK in Crisis:
  • The fall of the UK’s internal stability and political clarity, mass migration, and threat of radical influences.
    • “The UK has become the laughingstock of Europe and relationships with our strongest allies have deteriorated. Great Britain is a shambles.” – UK listener ([80:18])
  • US hosts reflect on similar challenges of integration and assimilation posed by unrestricted immigration.
• Trump’s Moves against Lloyd’s of London:
  • Trump’s decision to have the US government insure oil shipments through the Strait of Hormuz, bypassing Lloyd’s of London and weakening a critical arm of British leverage.
    • “In just a matter of minutes, the United States has shut down one of the largest geopolitical tools the United Kingdom had…It’s going to crush their economy.” ([89:43])
• 2nd Amendment Victory:
  • DC court strikes down magazine ban, hosts reinforce importance of strong gun rights as uniquely American.

5. XRP Technical Developments:

• XRPL Continuing Evolution:
  • Permissioned decentralized exchange (DEX) amendment passed, enabling on-chain compliance.
  • “XRPL is still best in class for speed of transactions and also exchange but you need to enable compliance on chain and so that’s what things like permission DEX allow.” – Ashish Burla ([55:17])
• Cross-Border Payments & Tokenization:
  • Ripple’s advances position the XRPL as the bridge between traditional and decentralized finance.
  • Rapid growth in tokenizing real-world assets, and stablecoin volume on ledger.

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Memorable Quotes & Moments

• “Ripple’s been out to build their company, their bottom line, their customer base, their software platform… They’re taking this as that bridge between DeFi and traditional finance…” – Jeff ([31:46])
• “You could make a fart-coin overnight. But actually connecting to the financial system, you need a lot of things to align… now I think you’re seeing the fruits of that vision come true.” – Brad Garlinghouse ([45:27])
• “There’s not one switch, there’s a hundred switches, there’s a thousand switches, and it’s all of these little switches and bit by bit by bit until it really does, I think, have an exponential impact.” – Monica Long ([45:48])
• “Ripple X team… Permission DEX passed the amendment voting. So thank you to everyone who played a role.” – Ashish Burla ([55:16])

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Important Timestamps

• [00:24] – Trump cyber strategy and US commitment to leading blockchain/crypto
• [06:24] – Community stories: staking with Zomban wallet
• [16:09–30:22] – Ripple leaders’ panel (Brad, Monica, Ashish): API stories, Snoop Dogg event, early struggles
• [34:43] – Monica Long on emotional resilience and “proving detractors wrong”
• [49:27] – Garlinghouse on Ripple’s North Star, recent acquisitions, integration strategy
• [55:16] – Technical advancements: permissioned DEX on XRPL
• [62:49] – Trump on Iran’s military defeat, political context
• [68:40] – Trump statement on Iran’s surrender and Middle East strategy
• [89:43] – Trump’s move against Lloyd’s of London and insurance of oil tankers

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Final Reflections

Hosts’ Tone:
Candid, passionate, often irreverent, sometimes conspiratorial but rooted in crypto fundamentals and strong critique of mainstream narratives—both in finance and politics.

Closing Thoughts:
2026 is a pivotal year. Ripple and XRP are achieving real, measurable institutional adoption, regulatory shifts are finally favoring digital finance, and the United States, under Trump, is staking its claim as a global leader in these critical technologies. The landscape—both technical and geopolitical—is shifting rapidly, and this episode of On The Chain puts listeners in the eye of that storm.

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For More
Follow On The Chain on Twitter and YouTube for ongoing analysis and updates.

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Transcript

[Jeff]

Hey, morning. Welcome to on the Chain. This is Jeff here with co host Chip. What is going on? Chip, what's going on? Everybody out there in the punctual on the Chain community. Punctual. Today we have, and we may have just crossed a line in the evolution of the financial system. This is really important, so tune in, especially if you care about your money. The White House just released a new cyber strategy for America. That's right, coming from Trump, President Trump. So all those naysayers out there, you can go away. And for the first time, it positions blockchain and cryptocurrency as technologies. The US Must lead globally. Let me underline and underscore that. Lead right. Lead globally, Chip. This is big time. At the same time, the infrastructure around XR Pay XRP keeps expanding with Ripple prime clients that now have access to regulated derivatives markets. Chip, I think this is big news. You know, people are really getting fired up. Stable coins are being treated more like cash on institutional balance sheets. And the rails for digital finance are quietly coming online.

[Chip]

Yeah, and if you think about it, Jeff, the timing itself, it's. It's really fascinating because while the regulators are lowering friction for institutions to use digital dollars, the banks, they're facing a system that's starting to evolve outside of their traditional control. So crypto derivatives expanding, stable coins entering regulated finance. And so the infrastructure like the XR pay ledger increasingly sitting in the middle of it all.

[Jeff]

And this is getting. It's getting good. Meanwhile, the geopolitical backdrop getting hotter. It really is Iran tensions are rising. Defense production ramping up. Again, the naysayers out there that all these media outlets saying that we're running out of munitions, they forget about production. I don't know how they forget about that pesky little thing called production. Global political narratives are shifting. The deep state is running scared. They have no idea what to do at this point. And all the lefty liberal libertarians, you guys got to get a clue because you're on the wrong side of history. And while all this unfolds, the financial architecture underneath the global economy is also changing.

[Chip]

Yeah, today we're going to do is we're going to break down the cyber strategy. XRP infrastructure expansion, institutional adoption trends, and what this could mean for the next phase of global finance. Are you ready to kick this piece off, Jeff?

[Jeff]

Ready.

[Chip]

All right, let's go. Welcome to on the Chains. Whoa, whoa. We got a coffee, Jeff. We were brewing coffee a little bit later today. Kind of took us in, but we've been pretty much on time during the week, weekends. A lot of stuff to do on the weekends.

[Jeff]

We're up early getting the show prepped

[Chip]

and we were up. So I was up at 5:45 doing show prep. You were up 5:45 doing show prep. So we are up early. Unfortunately, sometimes we don't get started because sometimes I'll get sidetracked with other things just like how the show goes. There's no difference.

[Jeff]

There you go. Luke is saying they saw a license plate on a Beamer in Naples that said XR Pay.

[Chip]

Oh, nice. We got a picture of it. Luke, you posted it up on X.

[Jeff]

There's only one time I was going into a Costco. I was driving. I saw the guy on the other side of the parking lot, man, and he had his whole XRP gear on. I made a shirt, hat, the whole thing. And I was trying to catch up. I was like trying to get my parking spot real fast and getting I. Then I finally got there and he was on his way out of the parking lot driving. I'm like, oh, come on.

[Chip]

He was already halfway, right?

[Jeff]

The one chance I see an XRP supporter in the wild.

[Chip]

I remember going to my nephew's wedding a couple years ago in Dallas and we, you know, we were out with, with my sister in law and my brother and, and my wife and we were. They were going shopping. And so I remember that we were. It was some cool little. Like, it was weird because the clothing stores were on one side and the bars were on the other side. It was like a. Think of like a horseshoe type of a plaza. And there's a bunch of guys sitting outside the store. And I'm like, well, I guess I'll join them on the park bench. You know, there's like a bench outside for the guys to sit while the girls are shopping inside. And some guy goes on the chain, Chip, Are you Chip? I'm like, yeah. And then another guy turns around, he goes, holy, Chip. And I was like, the first time and really the only time was right by the same place, two different people, like, oh, I watch your thing all the time. We started chatting and stuff. And then I said, if you guys noticed how weird this is, we're sitting on this side and the hot sun, because it was like, I don't know, it was like April or May. I'm like, we're sitting in the hot sun and look what's right over there. And they go, the bar. I go, does that strategic blunder or what? Like, we should be over there hanging out, right? And the girls come over and hang out with us. Right? So, yeah, kind of one of those. One of those weird oddities that happens every now and again. Guys, where are you coming in from today? Let's see where we're coming in from. Good morning, otc. Good morning. Lots of good morning. What up, gentlemen? Mike, Mike, Mike. What's up? Mike, Mike, Mike, Mike. We got Marquise. I work at a gas station part time on Saturday mornings. No excuses for missing episodes now. Well, yeah, well, you have. Not while you're working, though. I mean. Yeah. And if you're working, I mean, you know, gotta pay attention. But good to have you, man. It's good to have you. Onaga Pablo Martinez says good morning. Can you believe that I still have all my XRP coins since 2016. You are an OG.

[Jeff]

That's awesome.

[Chip]

That's good for you, man. That's why you hold strong. It's called diamond hand, son. Nega. Texas. All right, there we go. Oh, Kansas. Sorry, what? I say Texas. It's Kansas.

[European Commentator]

I don't know.

[Chip]

Morning, guys. Pittsburgh Penns doing up in Pittsburgh. Morning, guys. Davey X1.

[Jeff]

Jeff, Mike wants to know if you went to the bar. Did you end up getting the guys in the bar?

[Chip]

What's funny is we didn't end up going to the bar. We started chatting, talking, and then the girls came out. We said. We said our pleasantries and we said goodbye, but I was just like. And it was a cool outside bar. You know, they have those like long outside bars where people are sitting outside. I'm like, we could have still been sitting outside, but, you know, we didn't make it to the bar. But it was actually really cool to. To see that. Oh, no. Bunch of farmer guys talking and sipping coffee.

[Jeff]

Farmer guys, Farmer guys.

[Chip]

Farmer guys. Farmer dudes. Been stacking XRP since 2017. Brothers. Look at that. Yeah, look at you, man. I like it. Yeah, there's no. There's no. It's amazing, this community. And now with Zomban wallet, you can actually stake, which is great. Without ever leaving xrp. Leaving your wallet. So you're earning yield. It's great. It's a great thing.

[Jeff]

Hercules. Hercules. First time watching. Welcome to the show. I'm glad to have you here from the uk.

[Chip]

Hercules the bear. I like that you need. Instead of a P, you need a bear icon or something. You know what? Or get yourself a badass yeti. Put it on there.

[Jeff]

Good.

[Chip]

Right there. That'd be really fantastic. But I like that Hercules the Bear. Kind of says a lot about, you know, where you're coming from don't poke the bear. As they always say, don't mess with the bear.

[Jeff]

That's what they, One of the tough ones over in the uk.

[Chip]

Yeah, he's one of the ones that's. Yeah, well, there's, there's a lot more, but they just don't, you don't hear from them, but there's a lot, they're

[Jeff]

the, the silent majority. They need to be very outspoken.

[Chip]

They need to be swinging, they need

[Jeff]

to be punching, they need to be doing something.

[Chip]

Look at this one right there. Is XRP Hollywood, another OG in the community. He's been, he's been on the show since day one. XRP Hollywood. XRP since 2018.

[Jeff]

Wow.

[Chip]

I think I'm since 2018 as well. 2017 or 2018. Bitcoin since 2013. 2013.

[Jeff]

Damn.

[Chip]

I was, I was, I was a bitcoin maxi at one point because I had a bitcoin maxi friend from the UK by the way, who got me into, who got me into the whole thing. And he was like, no, no, that xrp, that's, that's centralized. You don't want to mess with that. That's what he told me. But he's like, no, you don't want to mess with that. But he's the one that got me into to bitcoin.

[Jeff]

So very cool bikes over in Connecticut. Behind enemy lines, really hard to do. Things are going to shift up in the Northeast at some point. I don't know. Especially with John Deaton's campaign heating up up in Massachusetts.

[Chip]

Yeah, John's doing a great job with

[Jeff]

marketing, phenomenal job and some good opportunity there to unseat the incumbent, which will be great. And then he'll be one of two senators to sit opposite Elizabeth Warren, who hopefully she'll be unseated too soon. But we'll get it. We'll get into the political landscape here in a little bit. The geopolitical landscape. We got a few things to cover in the XRP crypto space. Yes, really interesting things have been heating up and we introduced them a little bit in the beginning and now we're going to dig in. So Deaton is the man.

[Chip]

Hotlanta. There we go. Atlanta. Beautiful.

[Jeff]

So what do you got?

[Chip]

I saw Trump made an endorsement too. We'll get, maybe we'll talk about that for, for governor of Georgia. Has he publicly supported Trump? Oh yeah, he publicly supports him all the time. You got to follow him on, on X. Yeah.

[Jeff]

Non stop time to come around. And now he's, well, he's playing it Smart.

[Chip]

I mean, you're warning there, there are no Republicans that represent any part of Massachusetts. So you're dealing with. But what he discovered was that like 60% plus are registered independents. And he also, he also, you know, when I was speaking to him, he basically told me that I saw him up at Swell, and then we've had some other conversations as well, but he's told me that what's interesting is that the people that voted for him last time against Warren, if those same people show up and vote for him again, he wins. Because the turnout and midterm, the midterms is very, very low. I think only like 1.2, 1.3 million. I think he had close to 2 million people voting for him. If all, even if 90, 85 that voted before turn out vote for him, he wins. So I think there's a real path to victory here. I think Markey is just a, you know, he's gone way woke and he's been missing for, he's been around there for 50 years. And nobody even know if you say Senator Markey, no one even knows who he is.

[Jeff]

Nobody knows who is at all. But Joe, Bud, you bring up a solid point. And if you want to look at two people that actually had mentioned that right in the beginning when, when John was running that conversation with them, but look, we had that conversation multiple times. Once over in Australia, a couple times in Australia. And then beyond that, said, hey, you got to get, get on board. You got to endorse Trump. And then we talked about that a lot. We said, if there's one stumbling that John Deaton had through that campaign, which was not embracing Trump, it's impossible to know that, right?

[Chip]

You don't know.

[Jeff]

Yeah, we got to stand firm, you know, behind and, and, you know, become, you know, it's, it's the momentum, right? You, this is your president. Here's who you got to support. You got to come out and have conviction on that point. But you live and learn, right? That was the first time he ran for office ever. You put your dip your toe into politics, you know, you got to run the campaign, you run.

[Chip]

But he's running a strong campaign these days. Look at Paulo Martinez.

[Jeff]

Totally different.

[Chip]

Look at this one, man. Trump's been doing a great job. I pray we freeze you next. My father was born there, fought the Bay of Pigs invasion. Really cool, man. Well, somebody was saying like, well, maybe a lot of the, the Cubans who, you know, that were exiled or go back to Cuba. I'm like, no, we don't Want them to go back to Cuba, man, they're the only, they're the only, they're the only red voters in Miami. Like they flipped Miami pretty much red because they're, they're hardcore conservatives, they're Christians, you know, they're really strong, it's a really strong voting block. And I'm like, no, man, you can't leave. Why don't you leave? We, we need you guys.

[Jeff]

Like, you know what's interesting about that? And I think that's, you know, really critical. You know, if we get a free Cuba, the America only crowd, the libertarians that, the wannabe MAGA that keep saying that MAGA left them, you see them all over social media. They were never maga. No, they're never, never conservatives. They're always, you know, these libertarian minded, as much as they want to lie to you and pretend, but they never understood what it means to be America first as a leader, right? And so what we're doing like over in Iran and what we could do for Cuba and what we did in Venezuela, it's about settling not just differences, but the world is in chaos. And how do you succeed, how do you succeed financially? How do you succeed at trade when there's chaos in different regions of the world and when you know who the culprits of chaos are, you go and chop off the head of the snake. And who does that benefit? It benefits us. You know who else it benefits? Our allies. If you help your ally, you help yourself. You know, I mean, you can't be so selfish. These same people that are so outspoken about this agenda are the same people that, I guarantee you the way they live their life is selfish. And it's all about them. It's all about a money grab. They could care less about anybody else. They'll step on and crush anybody in their way. And you see them, you'll see them on social media, you'll see them on tv, you'll see how they, how they, how they present themselves. And so, you know, like in their, in their, in their heart, in their soul, you know, they just, it's all about them. They're. And so that's why it's America only, you know, it's them only. And they're. And they don't even care, right? And this is so important. If we can write, if we can liberate Cuba, imagine, you know, the, the Cubans that we have in this country, how amazing that would be. I mean, imagine the money flow with Cuba and set up and plus we're chopping off the control, right? You have Russia and China who have their talents in all these different regions. And as soon as you cut that off, now we're the support and so we're coalescing our support globally.

[Chip]

How amazing Cuba is going to be when money starts pouring in there and it gets revitalized. And you know, it's cool that you're driving 1950s and 60s cars but I mean the Cuban people are awesome. And I tell you man, first of all, I mean Cuban, Cuban food's my butt. I mean obviously cool living in South Florida, there's Cuban. I go to this place up in boat called the Cuban Cafe. There's a bunch of cool Cuban places you can go to. I love Cuban food and I love the, you know, the influence especially on, in the, in the South Florida region. But I mean how cool would it be just like fly over there, you know, 40 minute flight, fly over, you land, head to the beach, you know, smoke a Cuban cigar, have some Cuban rum. You know it's going to be phenomenal too. I just find that, I find Cuba is just going to take a massive, you know, it's going to take off like a rocket ship. It's going to have so much tourism and industry. It's gonna, you know, and the US will help support the free trade and a lot of cool stuff coming back into the US they'll have to ramp up production on cigars. 100 that'll be, that'll be a massive commodity. But you know, and also liquor too. Like the rums and stuff is really good. So XRP plumbing in the house. Never misses, never misses, never misses be Hollywood. My wife's from Cuba, been twice. Family fled to Brazil. It'd be a great day for a family. And Cuba's liberated. 100 man. What. I mean listen, when we're not gonna get, we probably should just move on. Let's get back, let's circle back on this.

[Jeff]

Oh, we'll get back to this.

[Chip]

We'll get back to this. Otherwise we won't do, we won't do ourselves. But anyway, yeah, we won't jump into it but so at the XRP Australia, Jeff and I didn't make it this year. We were there, we were emcees the first one. But this was, this was Brad Garlinghouse as Monica Long and Ashish Burla on stage there. So I'm gonna play a little bit of a clip from that because I thought it was pretty solid. But let's listen in.

[Brad Garlinghouse]

Okay, well this crowd now one of

[Chip]

the things that I noticed Jeff was the stage was very low, so you saw a lot of people's heads and you were sitting in a seat. You saw a lot of people were taking pictures and it was the back of people's heads. It was very low stage, which is, you know, okay. But I mean, if you're having an event, you need a stage so the people can look up and have a direct sight line. So that was like a.

[Brad Garlinghouse]

Is pumped up. So. Yeah, thanks for bearing with us on that one. And thank God you follow Brad Garlinghouse

[Chip]

on X. Yeah, they had like a giant screen back there, but it was nothing like the. The first one too. It's like first one was.

[Jeff]

Was so pro. I mean it was any. Any big conference pro.

[Chip]

Yeah, it was. It was. I mean, I kind of like the screen too, but I would like a better, you know, sort of a backdrop.

[Monica Long]

But anyways, David Schwartz is better on X than me for sure.

[Ashish Burla]

Where he's Joel Katz.

[Brad Garlinghouse]

Where's Joel Katz? He's out hobnobbing out there.

[Ashish Burla]

He saw that we were up here. He's like, that's not interesting. Yeah.

[Brad Garlinghouse]

All right.

[Chip]

Well, she even see the shots from back there. They weren't elevated enough to come down on me. See people's heads and like, you know, again, that's. They'll fix that next time.

[Ashish Burla]

He is. Hi, David.

[Jeff]

Conference one one.

[Brad Garlinghouse]

We didn't call you in here, but you can still hang out out there. But so we've worked together for a long time since the earliest days at Ripple. I think Monica likes to tell people she is two weeks senior than me at Ripple. She joined two weeks before I did. But we have so many fond memories. We only have great memories together.

[Monica Long]

Right? Fond memories and colorful.

[Chip]

Yeah.

[Brad Garlinghouse]

Okay, well, now you get to hear about some of these favorite untold stories about your time at Ripple. Let's go back maybe to the early days. Brad, you want us. He wants to start look at. He's already ready.

[Jeff]

He's already ready.

[Brad Garlinghouse]

Fire to go.

[Chip]

Right.

[Brad Garlinghouse]

So let's hear your fond memory that you haven't told before.

[Monica Long]

Well, I'm going to start with. It is awesome to be here in Australia. Thank you to the team who organized this. I know that it's a lot of blood, sweat and tears. And even if the slides didn't work perfectly, I think it's awesome to have the community together.

[Chip]

Talk about now, what was funny, Jeff, was they were they. They swapped the times. So there's a picture I saw floating around on. On the ax where they had to carry The. The crew wasn't ready for them, so they all brought their own chairs from off the stage. They're carrying their chairs. I gotta see if I can. I can see if I can find that picture. And it's a great pitch picture because Brad's like, crack it up. He's got this freaking bursting out laughing, and they're carrying their own chairs on stage. So.

[Monica Long]

And I think what you're probably to get here is like, three people have known each other a long time, and it's kind of some raw stories from way back when. It's really fun. I will start by. I need an answer to a question first. And this is maybe a stupid question, but in Australia, is weed known as weed? Is there another name for it?

[Iranian Political Analyst]

Okay.

[Monica Long]

All right, so there's a funny.

[Brad Garlinghouse]

You're probably wondering. There are cameras out here.

[Monica Long]

Brad, where is this going?

[Chip]

The weed story. Brad, please tell the weed story. When you got caught at the airport with, like a suitcase full of weed. Okay.

[Monica Long]

You're probably nervous.

[Brad Garlinghouse]

Ripple comm team is sweating right over there. But go ahead.

[Monica Long]

This is a true story. And so you have to remember, I mean, from the earliest days, Ripple.

[Chip]

By the way, Jeff, I haven't seen this either. I wanted to react. I haven't. I haven't previewed it. So I don't know what this is about.

[Monica Long]

Has been focused on. We want to be the adults in the room of crypto. We want to be, you know, engaging with corporates, banks, governments, and one of the first community days, the XRP community days we ever did, I think it was 2017 or 2018.

[Ashish Burla]

Yeah, I'm wearing the T shirt.

[Monica Long]

Oh, yeah, that's right.

[Chip]

Yeah.

[Monica Long]

Okay. So we decided we needed entertainment, so we had Snoop Dogg.

[Jeff]

Oh, right.

[Monica Long]

You're connecting dots. You're connecting dots. All right, so that's all fine. Like, whatever Snoop Dogg's good entertainment we did, it was in New York City. We had a bunch of bank type people come as, you know, partners, customers, what have you. The mistake was that the venue we chose. So imagine like this is the stage, right? Underneath the stage was the green room. Oh, boy, you're putting dots together again. So Snoop Dogg and his crew are in the green room beforehand hanging out.

[Chip]

Yeah.

[Monica Long]

And the entire venue reeked of weed. And it wasn't the best look for what we were trying to do, but it was memorable. So that's one of the.

[Ashish Burla]

Yeah, so I was the head of marketing. Yeah, I remember this was my team's event. So he gave me some real time feedback. The Next morning, Monica Smoke rises.

[Brad Garlinghouse]

But it was awesome.

[Monica Long]

Well, you want to give an early Days story? Yeah.

[Ashish Burla]

I mean, well, yes. Thank you so much for having us here. It's an honor. And also catching up with some OG ripplers backstage. So what I remember joining in the 2013 era was just. I mean, how far ahead of its time XRP Ledger was. So I remember there being a gold gateway tokenizing gold and representing it on the ledger. Silver, silver, dimes, beer. We had like an internal beer coin to pay each other back from bar tabs and that kind of thing. So I remember that. I also remember especially because I was communications and then marketing, just the, like, absolute vitriol toward Ripple at the time. And it did. It just felt like there was this mysterious dark cloud, this headwind that we couldn't quite put a finger on. Like, where's this coming from?

[Chip]

Like, why Bitcoin Maxis? That's where it was coming from. That's not that much of a surprise.

[Jeff]

Definitely. Yeah. There was so much outspoken 2013.

[Chip]

I mean, it was. Ethereum hadn't even taken off yet. What else was there? It's a bunch of scam coins.

[Jeff]

Exactly.

[Ashish Burla]

So much hate. And then I will say, so we, Brad and I were exchanging notes with the Epstein files. Reveal of some of the Epstein files.

[Monica Long]

Get a lot of attention down here.

[Jeff]

Yeah, yeah.

[Chip]

You know, it's so funny, as I was talking to my brother Jeff, just a real quick story, he was starting a YouTube channel finally. I've been. I've been trying to get him to start one. It's not going to be on crypto. It's going to be on just like general news and stuff. And it's so funny. He goes. Because he's really. He's a guy that's in the watch community, so he watches all these watch channels, and he knows guys from all over the world and he knows a lot of Australians. He said, first of all, he goes. He goes, you guys have a lot of Australia. I goes, australia is like our second biggest audience, you know, more so on the podcast. But, you know, people that watch us. I go, it's. And it's great to have been there and have met a lot of cool people. He goes, dude, the Australians know more about our politics and what's going on over here than most, probably Democrats or even most people in the U.S. he goes, they have such a command of what's going on. He goes, I always ask my buddies, like, what? What is it? How do you guys know so much? How do you follow it? They Know, politicians, they. They know the state of what's going on. I said, how do you know so much? And they said, well, we just, you know, we grew up on, you know, television that came from the U.S. we, we, you know, we just. We take a liking to it. We like the U.S. you know, we like what's going on. We love Trump. So that's kind of what's kind of come out of it. I thought, wow, how fascinating. And, you know, it speaks loudly about, you know, the patriots over there and, you know, down under. They're great people.

[Jeff]

They are. Definitely are. And we met many of them when we were there. But here's the big question, which I'm sure nobody can answer over here. Who's. Who's the leader of Australia? Is it a prime minister?

[Chip]

Yeah, the prime.

[Jeff]

I know, but who is it? I don't know. Do you have any idea who the.

[Chip]

Does anybody care? It's. It's. Well, it's Albanese, but the. The. The other guy. Yeah, Albanese has been there since 20. He's the. Well, he's the. He's the. What do you call it? The. He's the prime minister. And this guy is loathe, man. He was in. I don't know what year. I gotta look it up. Let's see. What year is he. Did he start. Let me just Google here.

[Jeff]

Nobody really knows. Nobody's. Okay.

[Chip]

So he's been in since 22. And then before him was Scott Morrison, Malcolm Turnbull, Tony Abbott. The one that I remember, too, is John Howard from 96, 2007.

[Jeff]

I remember that name.

[Chip]

Yeah, that's like the other one that. The other ones, I don't wreck. Julia, Jill, are. I don't even know who those. I don't know who they are. Yeah.

[Jeff]

The thing is, is Australia is a big market, you know, even for, you know, for our product. You know, General Motors. General Motors had a big market over in Australia. They had a production team over in Australia.

[Chip]

Yeah.

[Jeff]

You know, it's really interesting to see how the market in Australia is very closely aligned with us. And that's one thing I, I noticed, you know, and I believe, you know, you and I talked about it, but when we were over there, it's like we could have been anywhere, us, right. When we went to the beach town, we could. It was kind of a blend of Florida and. And like the Northwest, you know, Northwest beach with rocks and things like that. And just the building structure, you know, the downtown area, when. When we were going, it was just like everything seemed very US Centric except

[Chip]

we were on the other side of the road. That was the other thing that was weird, you know. And of course, we're like. With the accent. They're like, you mean you have an American accent? I'm like, of course we do. But for us, you know, here in the, you know, the Aussies, and it's. And there's different grades of it, too. You know, it's different depending on people from. But we're on the Gold coast, which is really the Miami, the South beach of, you know, of. Of Australia. This. This particular one was in Sydney, which probably made more sense for people to get to. I mean, it would have been one

[Jeff]

less, you know, one less flight for us.

[Chip]

For us. But I think I've told this story before about, like, what the Snoop Dogg story is. Like, one time I. My oldest daughter, she comes home from. From high school, and she goes. She said something about, oh, I have to wear, like, the school colors tomorrow and this and that. You know, she was asking mom, where's my. My. I was gonna wear my sweatshirt or my. Whatever. I don't know. It's in the wash. I need that for tomorrow. Why? I go, what's. What's going on tomorrow? And she goes, oh, we're having a big pep rally and. And somebody you probably know is going to be there. I'm like, well, who is it? She goes, I think it's a rap guy. I'm like, well, which rap guy? I'm like, yeah, you know. And she goes, snoopy Dog. She says, snoopy Dog? I'm like, snoop Dogg? She goes, yeah, that's it. I'm waiting. I go, wait a minute. Hang on a second. This is West Boca High School. I go, snoop Dogg is coming to your high school tomorrow? She's like, yeah. I go, are you sure? I mean, it's kind of. I mean, it's not like. It's like Fort Lauderdale. It's way out west. I mean, right where the high school is. Is swamp right past that, right? So it's out where Christ lost his sandal, Jeff. It's in the middle of nowhere, right? And I'm like, snoop Dogg's coming. And she goes, yeah, he is. His son plays football and they're. The high school is letting him the. His team practice on the field. And I'm like, okay, that makes a little bit more sense, you know, because he played at the division A or Division 1 football. He was someone's pretty good football player. And so, like, that day, she comes home, I go, how was the. How Was the. How was the. The thing? And I said, what did Snoop Dogg say? And he said, well, because I was thinking the same thing. He opens the bus and just plumes of smoke come out or whatever, right? And I was thinking to myself, she probably doesn't know. He's like, hi all the time, this guy. But he said. He just came out and said, you know, you had to. You have to study hard. You really have to get good grades. You have to stay in school. Something along that line. I go, that's it? He goes, yeah. I was like, okay. They play any of his music? No. I was like, probably a good idea. Yeah. Snoop doggy Doggy, you know. Got my mind on my money and my money on my mind. So, yeah. I was like, he didn't do it. I thought it was a funny story. I was like, snoop Dogg goes to her school, she doesn't even know who he is. That's why.

[Jeff]

Yeah.

[Chip]

You know, she didn't know the whole. Yeah.

[Jeff]

Yeah.

[Chip]

Albanese. Anthony Albany's a left flying boomerang. He's. He's horrific, man. My God, what a jack.

[Jeff]

Most of the world have all these.

[Chip]

Let's see if we can get through this video judge. Jesus.

[Jeff]

I don't know. We're like a minute and a half into it.

[Chip]

I know. We didn't really. We gotta let it ride.

[Jeff]

Wait, I don't think so. Where.

[Monica Long]

You know, Monica and I both experience. Chris Larson, co founder of Ripple Chairman, the company. A fabulous human being. And not. But. But. And he's a bit of a conspiracy theorist. And that's fun and interesting sometimes. And sometimes you're like, huh. But one of the things that Chris.

[Chip]

That's what Jeff deals with all the time with me. Jeff's like, huh? I was like, jeff, did you hear this? He's like, what are you talking about? I go to my buddy's house the other day on our longtime buddies, where it just happened to be in town. I go over there. We talked for 25 straight minutes. We were like, connecting. Yeah. What this yeah. And that and this and this. Meanwhile, my buddy's looking at me going, dude, I would love to wear a tinfoil hat. I don't know what you guys are talking about. He said that like 10 times. I don't know what you guys are talking about. I'm like, don't worry. We know what we're talking about.

[Monica Long]

Has said for a long time to Monica's point around, it's always felt like there's just a. An invisible negative force kind of attacking in various ways. And you're kind of like, what is going on? And he had always said that Joey Ito, who ran the MIT Media Lab, had something out for, for XRP and for Ripple. And I, you know, I admit I was always kind of like, look, I don't know if that's true or not, but like, we got to keep building, we got to keep going and like, focus on what we can control. And as you may know, Gary Gensler ended up as part of the MIT Media Lab again. Connecting those dots. Connecting those dots. It's like saying Voldemort.

[Chip]

Yeah.

[Monica Long]

Anyway, so it's interesting because Chris always was a little conspiratorial about this stuff. And now that we have seen the public Epstein files, you're like, holy shit, he's kind of right now, what's interesting about it, they were afraid of us. They were afraid of us because the technology was ahead of its time and it was a threat and they were trying to do things to put pressure on it. And again, I don't think I totally appreciated in the earliest days how prescient some of Chris's concerns were about that stuff. But in retrospect, it was real.

[Brad Garlinghouse]

Yeah, Chris used to always tell me, hey, people are hating on you. You're onto something big. And I was like, we're onto something massive. There's a lot of hate out there. But this is a great segue into my next question around. You know, over the years there's just been a lot of, I would say like negative media, pointed words or negative media about this relationship between XRP and Ripple. And I mean, some ones that, you know, just sort of always, that I'm always going to remember, like one here. For more than a decade now, the company has held vast quantities of magic beans. XRP Ripple is not worth anything outside of its XRP holdings. No one uses their tech, no activity on their ledger. I mean, how wrong was this? So, I mean, you look and you fast forward today, you know, XRP is, you know, gaining momentum faster than Solana and others on tokenized real world assets. 1.9 billion ripple stablecoin rl USD is now a top 50 stablecoin $1.5 billion market cap. Tremendous job. And then ripple payments. Monica. 100 billion in total transaction volume. Now that is not nothing. And so, man, one question I have for you guys is like, when you read those headlines, how did that make you feel? And now looking back at that moment, what's your reaction?

[Jeff]

This is a great question. You think about how the prompting of it From a building development perspective, right. Everything that they had been doing kind of early on, obviously a lot of hate. And we've tried to create kind of this, you know, clear understanding where, you know, obviously we all know, you know, Ripple, the company Ripple has been out to build their, their company, their bottom line, their customer base, their software platform. And they had a number of different iterations of it as they started really clarifying what their purpose was and also the verbiage and you think about how it all broke down kind of early on with Ripple, it could be a little confusing. And as they navigate and it's really interesting to see over the years, you think for like 2016, 17 till now, you know, how far they've come. And there were so many haters even in the early days, you know, and here they are trying to build a platform that is streamlining the payment infrastructure and everybody is, you know, totally looking, you know, to, you know, specifically try to get an understanding of, you know, when, when are they going to, you know, when does this all happen? How fast is it going to happen, you know, what kind of impact are they going to have within the market? But that was like early on and everybody wants it to happen immediately. We're talking about complete financial infrastructural changes that are, have been happening over the last decade. And so here we have 10 years in and there's still so much more to go. And so this question, you know, really prompting them from kind of an emotional state. You know, here, here's the, the hate they're getting. How do they overcome? I, I really like these types of questions, especially you know, looking at building, developing companies as a, you know, business owner and things like that, you know, so, so let's, let's see how these guys answer this.

[Chip]

First.

[Ashish Burla]

I would say to the people saying there's nothing going on in XRP Ledger, first Ledger, Doppler Finance, Zalmen Flare, Braza bank, just token, I can keep going. Aviva investors, DBs like there's real significant shit happening. And you mentioned just, you know, the growth, I mean we've seen from $100 million worth of real world assets on the ledger in January of 25 to now, $2.5 billion. And if you look at like the RWA charts, it's considered the number four chain for RWAs. So I think that the proof is in the pudding.

[Brad Garlinghouse]

100% right.

[Monica Long]

You know, one of the things that motivates me in life is a little bit of like proving people wrong to some degree. And so I Hear those headlines and there's a part of me, it just

[Brad Garlinghouse]

gets me fired up 100%.

[Monica Long]

Like I do think kind of Ashish, you said Chris's comment like, you know, you're onto something when people are upset about it. Like the more vocal and the more vitriol that comes our way, the more I'm just calm about it. Like, you know what, we're going to prove them all wrong. And the amount of progress we've made in 10 years is truly incredible. There's so many kind of players that have come and gone along the way that we thought were threats or what have you. And just by focusing on what we're doing, what we do. Well, I heard some of the earlier presentations and I truly deeply believe there will be robust opportunities in being the bridge between traditional finance and decentralized finance finance. I, I love this banner over here. Built for finance, trusted by ex institutions xrp.

[Jeff]

Like Chip this, this is such a succinct answer and what he's talking about. And this is where you know, people's, you know, commentary, you know, these, you know, people that are just in it from a speculative perspective that are looking for the huge gain of xrp, you know that then try to tie everything back to Ripple. Ripple's going at their pace. They're building at their pace. They're building something amazing technology wise that no one has ever seen before. So imagine they're taking this as that bridge between D5 and traditional finance and to get the adoption of it. So adoption doesn't happen overnight. We have so many people in the crypto space, they're like, hey, I'm all in on crypto, I believe in it. Well, Main street it doesn't. Right. It's going to take Main Street a long time and then not just Main street, but now you got to get the financial institutions, the banking infrastructures, the governments, you got to get everybody on board with it. So, right. It's bare, barely even, not even a dent. You know, it's just a little bit of a scratch. You know, we're kind of scratching the surface here. You need a solid strong. Banks aren't moving until they're confident that the technology is going to work. They move super slow. Banks aren't moving if the government regulatory framework isn't in place either. Right. So there's multiple components to it and it's not just local government regulatory compliance, it's international global regulatory framework. And there's one true leader in the space and that's the United States. So if the United States isn't on board, nothing happens. And that's what we've seen over the last decade. So we've seen little action in terms of adoption of regulatory clarity in the U.S. massive lawsuits. Now we have a president that is coalesced firmly into having the US be a leader in this crypto space. And I'm not going to take away from Korea, Japan, Singapore and many of the countries out there that have adopted regulatory guide rails for crypto. But without the US nothing happens. And so that's where we're at right now. And without Ripple doing everything they did, we'd have nothing. So all the haters out there, they could beat up on RIP all they want chip, but without Ripple, we'd have no progress in this cross border transactional or the bridge between traditional finance and crypto. Without Bitcoin, nothing would exist. We wouldn't even be without Bitcoin. And that's why you can't hate Bitcoin, you can't hate Ethereum, you know, and you definitely can't hate the XRP ledger. These are the three most prominent chains complete, you know, across, across the board. I mean there's others obviously. And what are your thoughts on that? You know, especially from like a business perspective, development perspective, you know what, how would you comment on that?

[Chip]

Yeah, I mean, I agree with everything you said so far. I mean I, I just think that, you know, when, when, when you think about Ripple, the company and what they're up to, I mean these last four, these last four acquisitions are massive. I mean just for taking over sectors, they're gonna be, if they're not already a leader. So I feel like, you know, you're laughing at somebody in the comments there, but I feel like, you know, having them be the leader in this financial, this tech sector, you know, company value to 40 billion, but I expect that to rise over 100 billion just because they're doing the right thing. And you know, I also love the decentralization move they just made recently with, you know, like taking care of the community, but kind of not kind of taking it out of their hands and kind of like with, you know, XRPL Commons and with Zao and with the XRP Japan, like there's a lot of great things that have been happening over the course. Once the lawsuit ended, you can see that here's a company getting back to work. And I love this, this talk right here because you know, you know, Monica saying the S word and you know, saying, you know, they're just very relaxed here, but this is A good interview because you got a sheesh who worked there for so long, you know, And I was with Evernorth heading up Ever North. And you have, you know, Monica and Brad, they've all been. She was there since 2013. Brad didn't come on board till 2015. She was there two years before Brad was. So this, this is kind of like this, this camaraderie you see on stage. These. These. Them able to be themselves. This isn't one of those stuffy interviews where you're like, so please tell me what you're. And they, you know, like the CNBC ones, and then they give the PR statement that's already been talked about by the lawyers. This is way more fun watching this and then going into the OG stories and then talking from this perspective about where Ripple is and proving everybody wrong. I love this take. So that's fantastic.

[Jeff]

It's really great. I don't know. You can't see that. But this is, this is a good comment from Devon. Steve. Banks and, and financial institutions love the profits because of low cost. They hate that we. Right. All the. Anyone invested in crypto can be part of that. That's what they're trying to stamp out. And that. And that's true, right? That's. That's the whole point of the SEC narrative going after Ripple. If you. And, you know, they look at. They were big crypto haters, right? And anyone during the previous election cycle that said the Democrats were supporters of crypto were out of their minds. So anyone in the crypto space that didn't support Trump and didn't support the narrative, they had no idea what they were doing. And, and this is the point is that we saw the. An entire previous administration that was anti crypto and led the charge of trying to take down one of the biggest names in the industry, which was Ripple in terms of being the bridge between traditional finance and DeFi. If you take them down, the whole industry collapsed with it. So the fact that they couldn't take them down and they took out some other players along the way. Don't forget about Library. Library got taken out. Well, what purpose? Like what. What was the narrative that they had to take Library out and other others within the industry collapsed during that period of time because of the devaluation of crypto asset and the difficulty of building and things like that, and the focus of the over $100 million that Ripple had to invest into the lawsuit and taxpayer dollars invested in this lawsuit, you know, that ended up at the end. And one thing that Chip And I said right from day one is that it's going to be funny because it's going to the, the lawsuit end game is it's going to end up being a net positive for Ripple and xrp. That that's how it's going to get clarity. We said that from day one and it took a lot longer than we thought. Right. You know, but here's, here's the point is that that agenda under the previous administration, Gary Genzer and the rest were there because of the banking industry. They wanted to either slow it down or destroy it to allow the banks to keep doing what they're doing. And the big institutions like that don't like the fact that the little guy got there first. That's a hundred percent. You know and it's not conspiracy. It's not anything. They hate the fact that the little guy got their first chip.

[Chip]

Yeah. 100. Yeah. And that's what this whole stable. That's what this, this the act. What's getting hung up in the Clarity act right now in Congress is that the banks are worried about outflows. Well of course you make a half a percent here and you can go over here and make 6 to 8% yield on your same money. What you know, it's not a difficult choice to make and that's why I love what you know. You know, Trump keeping on pushing on that and then some of the other things that he's doing to, to gain support. Look, the Rhinos got ousted right in the Texas election on the primary they got primaried and they got tossed. And this is an indicator when Trump endorses the candidate, you're gone, the other guy's gone. So he's holding it over Thune, who I cannot stand as a rhino. A little massive Massey, another little. I mean these guys are just, they're bad. Get them out of there. Primary them. It also Cornyn, John, you know, Cornyn in Texas is no friend of Trump. He's a Trump hater. He's a, he's a never Trumper. And Trump said I'm holding off my endorsement until, for Thune and for Corning until the, the, the, the Save America act is, is, is on my desk. But don't expect an endorsement before that.

[Jeff]

That's right.

[Chip]

So and then. Well we'll, we'll talk about some other, some other chess moves too. But we'll let's, let's get through this

[Monica Long]

paper that is captures it perfectly. The, the, the mean tweets the people. I will tell one other quick story on this. It's kind of funny. One of the more vocal negative people about xrp, I was at the White House for a crypto event and, you know, he and I had not always seen eye to eye. That's a delicate way of saying

[Chip]

it sounds like it's going to be the dude from consensus, doesn't it? It sounds like it's going to be what's his name, Jerk off's name. I mean, because they've always, they've been on panels together and they've got, what the hell is his name? Somebody, somebody will throw it in the comments.

[Jeff]

Great.

[Chip]

Yeah, the consensus dude, the God, I see his face too, and I just can't. This name eludes me at this point.

[Monica Long]

Anyway, he comes up to me and he says, sorry. He comes up to me and he's like, look, I just want, you know, I'm sorry, I was wrong and you guys have done an incredible job. And it, I mean, it's kind of weird that it had to happen at the White House. But like, I think if we stay the course, we. We keep doing what we're doing, we keep focusing on utility. I'm incredibly optimistic about the road ahead.

[Brad Garlinghouse]

Yeah, What I love about this story is that we took the longer path, but that was the correct one. I mean, you could make a fart coin overnight. But actually connecting to Joe Lubin is

[Chip]

who I'm thinking about.

[Brad Garlinghouse]

The financial. That wasn't supposed to be funny, but anyways, I just can't help it. But anyways, connecting to the financial system, you need a lot of things to align. You need regulation to align pollution. But I mean, I love how that stuck true to that vision over all the years. And now I think you're seeing the fruits of that vision come to true.

[Monica Long]

Before you go to the next question, one other thing I think I did retweet someone recently that had kind of posted about this. And actually I commented this during XRP Community Day, which we did online. People use this expression, like, flip the switch. And I promise you, if I had a magic switch to flip, I would have switched. Like, I would have done that a long time ago. Like what I. What I said at the XRP Community Day, which I then retweeted, somebody summarized it was there's not one switch, there's a hundred switches, there's a thousand switches, and it's all of these little switches and bit by bit by bit until it really does, I think, have an exponential impact. And I think you're starting to see that it's taken a Little longer and some cases. But on the other hand, we've made so much progress, and you're seeing more and more of these little switches flip. And it's the reason why I have so much optimism about both 2026 and certainly beyond. And look, part of that truly is you all are one of those flipped switches. Like, seeing the passion in Australia. Seeing the passion. We're on a kind of a world tour right now, and it's awesome. And each of these individual things. Things, and the advocacy and clarifying and debunking the. The FUD and the misinformation, like, it's all part of the. The number of switches that are being flipped. And I think at some point you're going to feel like, oh, my gosh, the flip. The switch did get flipped.

[Chip]

Jeff, what's going on here? So. So, like, now I put this comment, and now it's covering the video. But when I had it up before, it was going, what. What's going on? Did they just fix that? Did they flip that switch and fix it where it goes behind the video and you can't read the damn comment.

[Jeff]

Exactly. They broke it. I don't know what they're. What they're doing.

[Chip]

I'll tell you, we're not getting into today because this video, this five minutes, 30 minutes, because we can't shut up. But I will say that that's how

[Jeff]

we gotta do it.

[Chip]

Tomorrow night, we're gonna do the. We're gonna break down the. The. The. The cyber thing that Trump just put out. Yeah, well, you know, on your. Like, you're on your. On your. You know, in your. Your electrical box, there's the master switch. You go. And everything goes off. And then I'm like, where's the master? Where's the master? I guess that only turns all the other switches off. It doesn't actually turn the ones that aren't on yet on, which happens, but it's the main.

[Jeff]

It shuts off. The main. Does everything shut off? I haven't shut off in a while. Oh, yeah, the main switch. Does everything go off or does it just disconnect and then the main switch.

[Chip]

Everything's gone.

[Jeff]

Turn everything on again.

[Chip]

Yeah, I believe it goes off. I don't know. I haven't done it in a while

[Jeff]

myself, but I gotta try it.

[Chip]

There you go.

[Monica Long]

It was the culmination decade of that. Those events.

[Brad Garlinghouse]

Yeah, absolutely. You know, next topic is, you know, $4 billion in acquisitions, which is funny because Brad used to give me about my expense reports, and I'm like yo, you're spending billions now. I peasy expense. That's my peasley expense report. What's the rounding error? Not even a decimal. But anyways, let's move on. But how do those.

[Monica Long]

Ashish likes nice wine. He didn't have to buy the expensive wine you got the cheap wine.

[Ashish Burla]

You were making an example of him for a bottle of water he bought at an airport.

[Brad Garlinghouse]

Yeah, you know, I was just thirsty. Right, but you can't drink water. Anyways, let's move on. So 44 billion. And in acquisitions, Brad and Monica, how do they fit together in the product suite? But also how does XRP fit into those acquisitions? Like to hear a little bit about that. And then Monica, you know what gaps remain now and how are you looking to close those gaps in the product suite?

[Monica Long]

Yeah, I'll take the first part and then hand over Monica. I say this and I keep saying, I'm going to keep saying it. XRP is the north star of what Ripple's doing. We care more about what's going on in XRP than anybody else. There's obviously a lot of people who care, but we care more than anybody else. That will remain the case. Sometimes you'll see Ripple do something and you'll be like, oh, I see a direct line between they did this positive outcome around xrp. There's a direct line. Sometimes I even people inside the company are like, hey, I don't get it. I promise you that when we do something over here, it may have one hop or two hops or three hops, but we're doing it because we think it's going to drive an outcome in the actual XRP ecosystem. So if we use, you know, these two recent, the bigger acquisitions we made last year, a company called Hidden Road in the prime brokerage services business. And the second, a company called G Treasury, which has a sizable and growing office here in Sydney. I just mentioned that because I don't know if any of you are here, but kudos to that team. Both of them are a little bit different than how other crypto companies approached it. Because they don't do crypto. Right. G Treasury is last year processed about $14 trillion of payment flows. Do you know how many of those went through crypto or stablecoins? Zero. And that's the opportunity. And I promise you, like we're not going to go force. They have over a thousand corporates ranging from kind of mid sized corporates all the way up to Fortune 50. We're not going to go force ripple payments on top of Those customers, we're not going to go for force ripple custody on top of those. We're not going to force rlusd, but we're going to start to introduce it and we're gonna have to chip.

[Jeff]

That's it. What he's talking about is such a massive deal.

[Chip]

Huge.

[Jeff]

And, and this is the other thing people say flip the switch. You know, it's going to replace everything. It's not going to replace everything. You know, how, how do you get a mindset shift? How do you start implementing the different technologies? It's got to be easy. Nobody cares about the Rails. All they care about is if it's efficient and inexpensive. And as you start building the, the foundation and all of a sudden they're like, oh, this is much more streamlined. This is great. Oh, what is this? R.L. uSD? Oh, I can do it even cheaper, you know, and it's going to be faster and more efficient If I hold R.L. uSD, you know. And little by little people start utilizing in Main street financial institutions, start moving transactions. They're you know, a whole different shift in, in methodology on how they're doing it. And like you said that you know, right now they've been using just traditional means of, of movement. Once we get to a point where people understand that we could be more efficient in our settlements, we can be more efficient in our, in our time sequence, more efficient on the cost, more efficient on less personnel, more efficient on less human hands having to be somehow involved in this entire process, removing certain third parties, replaced with a more streamlined ledger as, as a third party mechanism for escrows and, and what, what have you. You were almost there, you know, but it's now we kept talking and it's interesting, Chip, you know, I hear these guys talk and it's amazing over all these years how on point we've been with their process and progress while all the, you know, big YouTube bros out there, other crypto bros, keep talking just this just focused on the speculative FOMO and fud, the ups and the downs and drawing all these conspiracies and, and the 589s and all that stuff. We always use levity and have fun with it. But from a progressive perspective, we're always spot on with how these guys are thinking where we're at in the market, you know, and, and the trend that's getting ready to be developed. It just, it's great, you know, listening to, you know, their mindset and how they're analyzing it.

[Chip]

Especially coming From Garland House 100% man, it's such a, it's. I love, I love the, the raw nature of this whole thing. And, and this is another, this is another workshop on how to turn a five minute video into a 30 minute segment. Jeff, that's.

[Monica Long]

We should make a point out.

[Jeff]

Hey, make a video.

[Monica Long]

You're holding these deposits in whatever bank, whatever country and they're getting zero yield. You could hold those in rlusd and that would be a better outcome. Hey, did you know you could use XRP for your payment flows? And I'll tell you that the cultural fit of both, on both these acquisitions, of them understanding the North Star, they are bought in. They see that, they see how they do.

[Chip]

They have a choice, Jeff. When you acquire a company, of course they're bought. I mean, you know, I mean what choice do you have? You either join the fight or you're not part of the company anymore.

[Monica Long]

Be a catalyst in transitioning a bunch of legacy kind of boring, fuddy duddy corporates into this future of financial infrastructure.

[Ashish Burla]

So the role of so what we've been building within the ripple, the kind of core product development team is the end to end digital asset infrastructure. So, so that whether you're a corporate or a financial institution or other kind of payment company, it's easy for you to transition from the world of fiat normal money and currency into the world of digital assets with XRP ledger being the foundation to the whole platform. So we think of it as like how do we build such that XRPL is always the default blockchain used for all these various use cases, cases that we're pushing into our clients. On top, you mentioned, you asked like where do the gaps remain? So there have been some really significant amendments driven by our Ripple X team. I know IO is here and others from the team working on the core ledger. So really importantly, the permission decks passed the amendment voting. So thank you to everyone who played a role.

[European Commentator]

Big deal.

[Chip]

Thank you.

[Ashish Burla]

Absolutely. So features like this are important because the thing that I mean XRPL is still best in class for speed of transactions and also exchange but you need to enable compliance on chain and so that's what things like permission decks allow. So now we're working through pilots with some of our payment customers to put some of their flows onto the decks. And then we're also working on some new pilots.

[Chip]

What I did lie, Jeff, this is a 26 minute video. I thought it was like 5 minutes.

[Jeff]

No wonder it's taking us an hour.

[Chip]

I think I grabbed the wrong clip. But anyway let's. Maybe we'll circle back tomorrow. We'll make a, we'll make a note of this because we got to move on. We're 16 minutes into this, so we'll play the rest of it tomorrow.

[Jeff]

Yeah, we cover. We covered a lot, you know, the whole gist of it, really breaking it down, being able to workshop it. And this is really, you know, just playing the video for the video sake. But the fact that we can analyze the video and get so much out of it, 100, you know, and most people, you go watch through it and you miss segment of it, right? And so to be able to sit and analyze exactly where we're at, you know, is really impressive. And the last statement, Right, exactly, But the last statement of trying to identify where we're at with this thing, you know, it's, it really is impressive. And you know, the xrpl, amazing technology and the, I think the most comprehensive part of it is that it can keep expanding. Right. Whereas many of like if you look at Bitcoin, that's it, right? Unless you change and you branch off and create your own. And they tried that, right. Bitcoin cash and some of the others. But now it's back to just, you know, just focus on Bitcoin Ethereum. You can use it, build on it and all that stuff and spin off your ERC 20s and build your own. But the power of the technology of the XRPL is that it's continuously developing and improving based on a vote of the validators. And that is really impressive. And they're adding and growing as they learn. So we're in a really amazing spot right now, especially as we transition towards tokenization of real world asset.

[Chip]

Nice.

[Jeff]

Impressive. Impressive.

[Chip]

Very impressive. We all played a role. That's what Jim D says. Roll the dice and roll the dollars. Yeah. More importantly the roll the dollars which made it all happen. Cassie Cradock too runs the UK part of Over There Ripple. She's the UK CEO and Managing Director of UK and Europe. She says, look at this, Jeff. This is interesting. What an incredible evening to celebrate Ripple's recent regulatory milestones and the UK and the European Union. I'm still pinching myself, but yes, we really did lift Tower Bridge. For a Ripple branded boat to pass through, it felt like the perfect backdrop. Our EMI license and crypto asset registration from the UK's FCA along with the EU's EMI license mean that the bridge between TRADFI and DEFI is officially open. And last night we made that quite literal. The era of expansion experimentation's over. Regulated into institutional grade production is here. Huge thank you to everyone who joined us at the top of Tower Bridge to mark the occasion and my colleagues across. I walked across that bridge so many times when I was there. Back and forth and back and forth.

[Jeff]

And here last somewhere there was stayed right around the corner from the Tower Bridge. Yeah.

[Chip]

Did you go to the Tower of London there? Have you ever been there?

[Jeff]

I didn't go inside, dude.

[Chip]

It's a great, it's a great tour. Yeah, it was so funny because I was, I got a UK buddy and lives in London. He, he goes, this is like maybe I want to say 15 years ago. And I go, let's go to the. He goes, let's go to the Tower of London. You must be sick of it by now. He goes, I've never gone. I'm like dude, how is that possible? How is that possible? He goes, I don't know. I walked by there a bunch of times but I never went. So like we, I figured like, oh, that's like one of the tourist traps that he's like, ah, I have to endure this for the 40th time. But no, he'd never been there. And man, it's a fascinating place, man. So many deaths and happened there. You know, it goes back to 980 or something I think when it was built. But here's the Ripple branded boat and what's cool about that is I always knew there was a cool place up on the top of the Tower Bridge there you could actually rent out and people go up there. You know, you can't go there if you're not authorized. But this is, you know, this is where it was there, the ripple sign. So there it is. You can be up top there and this is, There it is passing down below. So you can see it through the, yeah, through the, you know, the bridge is up there.

[Jeff]

Nice.

[Chip]

And then there's the, there's the Ripplers or whoever was invited to this personal soiree.

[Jeff]

Oh, hey, look at this. Hercules the bear took, took some advice and put a bear.

[Chip]

I remember being there in 2000, looking around going, what the hell is going on? I remember being in central London and looking around and going, whoa, this has changed since I was been there in the 90s. And I was like, something's wrong here. And that was 2000, we're talking 25 years ago. So. Yeah, yeah, it's, it's changed quite a bit. Yeah, it's, it's, it's, it's bizarre to me, man. And you know, and like Sections where they close down a lot of the pubs and stuff. Like, hey, man, British culture is what I go to experience. And people like, oh, I don't. Oh, the food is horrible. I go, dude, I love the food, man. I go, are you kidding me, man? I go, any pub you pop into, you know, it's. It's phenomenal. I'm like, dude, everything's on the menu. The. To me, the English breakfast is still, to me, one of the top breakfasts in the world. I if a traditional breakfast, dude, it's the best, man. Everything on there, you know, the tomatoes to the beans. I'm like, I don't care where you get it, you know, and it's just like the brown bread.

[Jeff]

I love the brown bread, you know, I love all that.

[Chip]

They always get like a bad rap for food. And they got some of the greatest food, especially, you know, in London, some amazing restaurants, dude, it's like, I don't know, talking about.

[Jeff]

Plus the pub food is great if you get like steak pie, you know,

[Chip]

and you can get shepherd's pie. Yeah, the steak pie, Shepherd's pie. I mean, we. It's funny, my wife makes that for me here. She, you know, we get the. She gets the seasoning packet and then she makes. She makes the, you know, the potatoes and the bean, you know, the peas in there and all the whole thing. It's like, it's phenomenal. She makes a really phenomenally good job. But yeah, it's Bricker required for the next UK cruise on the tennis. We spelled tab is wrong, but that's okay. It's T H A M E S. But that's close. This is spelled out.

[Jeff]

They're changing it.

[Chip]

Oh, I get it. See, look at that. The bridge currency. So I thought that was pretty cool that they were doing that, Jeff. That was pretty cool. Also got something from Rashees that I think we're gonna have to pass on. We'll put that in tomorrow nights as well. It's a good. It's a good. And this one here too, which is CoinDesk, but this Ripple prime clients. Now I've accessed the Coinbase Derivatives full contact suite, which nano Bitcoin and Ethereum futures, plus solana and XRP contracts 247 in a CFTC regulated environment. It's so great that CoinDesk is giving so much love to XRP. They rarely ever covered it. Now they're all over it. It's just major shift.

[Jeff]

Things are happening.

[Chip]

Things big time happening, man. It's a. It's a big. It's a big thing. And so I, let's, let's, why don't we pop over to our geo political segment that we like to do, which is usually the back half of the show. I wanted to play this one. This is Trump talking about Iran, the state of what's going on with Iran right now. And then we're gonna. Jeff, you'll go ahead and read a statement from him.

[Jeff]

Give it a 12 to a 15. Their army is gone. They're just about. Look, their navy is gone. Their communications are gone. Their leaders are gone. Two sets of their leaders are gone. They're down to their third set. Third set. Their air force is wiped out entirely. Think of it, they have 32 ships. All 32 are at the bottom of the ocean. Other than that, they're doing very well, coach. Very well. We're doing. Our military is doing phenomenally. That's the big thing for this week. We seem to have a new thing every week, but the, the situation with a very bad and very sick group of leaders who were killing a lot of people. A lot of our people were.

[Chip]

Well, yeah, they're actually, the third set was just eliminated yesterday. So taking them off,

[Jeff]

put them up, need to surrender, has to be unconditional.

[Chip]

Supreme leader. There was supreme leader for seven hours. Right. So it's not, you know, that was that funny. The Babylon be where they had the, they had the, the skeleton with the beard. They said they came out with a new strategy for Supreme Leader, somebody who's already dead. Right. So that's, you gotta, you have to love that too.

[Jeff]

And, and this, this comments is spot on. Thank God for Trump. He saved us all and he's still in the process of saving us all on a global scale. And what's good for the world is really good for the U.S. and you know, the, the more we get towards that point and when you see the Trump agenda, you know, and you see exactly the direction we're going in, he hasn't, he hasn't, you know, changed at all. You know, go back to the videos that he made years and years and years ago when he was a lot younger and talking about, you know, when and if he would think about Oprah, had interviewed him and he said when and if, you know, he had run for president, he said when he would be needed, that would be the only time. And he said this is what we'd have to take care of. And even talked about Iran way back then, you know, as, as a problem. 47, 48 years of Iran being a problem, Cuba being A problem. Venezuela, obviously, over the past decade plus, you know, and, and all with the rhinos and the Democrats in this country just kicking the can down the road because they like the status quo. And when we look around, the global leaders like the status quo, the EU leadership likes the status quo. As they, as they drain the financial coffers of the European countries into the eu. The UN is about to go away. The UN is, is, is morally bankrupt and now financially bankrupted. And so that's important. And it's going to be replaced. This is the Trump doctrine. And most people don't understand it, which is amazing that they don't understand it. And what we're also seeing, Trump is playing, you know, 5D chess. Everyone else is not even playing checkers or playing marbles. And a lot of. Of the social media influencers don't understand it, you know, and, and it's amazing how they're being revealed as to who they truly are. And it's amazing, you know, loving to see this.

[Chip]

Hercules. The beer says, I wish we had someone like him running in the uk. You do. You do have someone that's going to be running in the UK who's actually building a strong, strong party out of the whole thing. And it's not Nigel Farage. Nigel Farage is what we call a Rhino or Republican in name only. I hate to see what's happened to Nigel. He's good friends with Trump, but he's no Trump. But I'll tell you who is right there. Rupert Lowe. Rupert Lowe is the guy. I mean, this guy's like this. What he's. What he's doing right now. I mean, is this phenomenal? I mean, he was elected for Reform UK and then he got tossed out of his party. But this is a guy to watch right here because he's the guy that's putting out some strong stuff. We play a lot of his videos here, but I think that's the dude. And you had mentioned Oprah, Jeff. I saw this earlier and I went and just found it, but this was. I thought this was funny. Here's Oprah. Somebody said Oprah's looking like she's taken Ozempic for breakfast, lunch and dinner. Look at her. Look. Oh, my God.

[Jeff]

These people have no idea what they're doing. The amount of. They go into these GLP1s and Ozempic in the face. You can see they're not building up their lean mass properly.

[Chip]

Well, the problem is it attacks muscle mass. And that's what that. You're right. You get the Saggy face. You get all the, you know, the, the, all those issues that go along with it. And then, Jeff, over in London, the Iranians turned up for the service members of the United States, you know, who were, who were killed in the con Iran conflict. And this, dude, this is more th, this is more than we get. Even on our side. The Democrats won't even support it. You had this, you had this war going on for 47 years, basically, or whatever. I mean, look at this, look at the turn, look at all the flowers, look at the candles, look at this vigil. They're even singing the national anthem. Trump, truly incredible. I mean, it's just incredible, Jeff. I mean, you see that kind of support going out there and it's like. Truly impressive, man. Truly impressive. Dave, go ahead and take this statement right here. This is a good one. Why don't you grab the statement right here. I'll throw it up on screen. Jeff, but read this. This is a good one. This. Trump just put this out this morning and renal function.

[Jeff]

That's funny. Trump was saying, Iran, which is being beat to hell, has apologized and surrendered to its Middle east neighbors and promised that it will not shoot, shoot at them anymore. This promise was only made because of the relentless US And Israeli attack. They were looking to take over and rule the Middle East. It is the first time that Iran has ever lost in thousands of years to surrounding Middle Eastern countries. They have said, thank you, President Trump. I have said, you're welcome. Iran is no longer the Billy of the Middle east, are instead the loser of the Middle east and will be for many decades until they surrender or more, more likely completely collapse. Today, Iran will be hit very hard. Under serious consideration for complete destruction and certain death because of Iran's bad behavior are areas and groups of people that were not considered for targeting up until this moment in time. Thank you for your attention to this matter. President DONALD J. Trump and, and that's it. You know, we need, we also need the Iranian people. You know, they need to have that opportunity to take back their government. There's a lot of people and a lot of infrastructure in terms of personal infrastructure, leadership that has to be removed. And, and so they're working on that. Once all that gets done, then they get to move in. And that's where Israel is striking in Lebanon, taking out Hisbah. Uh, now the, uh, Lebanese military is also going after Hezbollah up in Lebanon, which is a long time coming. We needed to see that, you know, Syria next destination. Iran destabilized Lebanon and Syria and well beyond that in the Middle east and, and we see, you know, the Middle Eastern, you know, countries are finally, you know, rid of that, you know, fascist regime in Iran. Imagine, you know, Saddam Hussein's Iraq is gone. Iran is gone. Iran and Iraq had the largest standing armies in the Middle East. And how did that work out for them? Didn't, didn't really work out so well.

[Chip]

Well, you can't, you can't go up against the might, man. The might is, is, is, is, is, is for, for real, for serious. And then this one was put out yesterday. Jeff. We kind of teased this a little bit, but Trump said we just concluded a very good meeting with the largest U.S. defense manufacturing companies where we discussed production and production schedules. They've agreed the quadruple production of the exquisite class weaponry in which we want to reach as rapidly as possible highest levels of quantity expansion began three months prior to this meeting and plants and production of many of these weapons are already underway. We have virtually unlimited supply of medium and upper medium grade munitions which we are using as an example in Iran and recently used in Venezuela. Regardless, however, we have increased orders at these levels. The companies represented were the CEOs of the base systems, Boeing, Honeywell Aerospace, L3Harris Missile Solutions, Lockheed Martin, Northrop Grumman, Raytheon. These meetings concluded with another meeting scheduled in two months. States all over the the country are bidding for these new plants. Thank you for your attention. This matter. Lockheed Martin said yes, we've agreed to quadruple critical munitions production as a result of President Trump's leadership. We began the work months ago with Secretary of War Pete Hexseth and Deputy Secretary Feinberg. So you knew they, they were, they were doing it three months ago because they knew the campaign was coming, right? They knew it was, it was up. Trump said, if you start hurting the protesters of Iran, they announced that were killed and well over 32,000 is more the official number. 32,000 people who wanted freedom were gunned down and killed. Right. So if you think of it like that, Jeff, they're, and they're saying and, and the official number is like 6 to 12,000. Like ah, only 6 to 12,000 died. That's still 6 to 12,000. Way too many. I just appalled that what, what's going on with the left of this country. I said get out, go experience one of these other countries. You know, do not. I mean Venezuela's back on it. There's, I don't know whether there'll be to go anymore to experience true communism because Venezuela is cooperating. I'LL say the best. They're going to schedule elections down there. It sounds to me like the exotic. One of the exiled leaders from Iran is going to be an interim leader and they're going to have elections to figure out who the Iranian people want. But first they got to weed out all the losers, Jeff. They got to get rid of the losers who are still there. Well, check this out here. So here's two segments from CNN when the truth got to be a little bit too much. Well, they couldn't handle the truth, Jeff. So here we go.

[Iranian Political Analyst]

Happened with President Obama. I'll just say this very quickly.

[Chip]

And I was next Iranian political prisoner. Right. So this is somebody who kind of knows the regime pretty well.

[Iranian Political Analyst]

President Obama. I'll just say this very quickly. And I was in, I was in the State department in the 2000s when we, we implored the Bush administration not to restrict the engagement with Iran simply to the nuclear file. What happened with President Obama is that for better or worse, and I'm not going to litigate that here, he decided that given the three big, the four big problems that have always been on American objectives with Iran, that is enrichment, ballistic missiles, proxies and democracy inside Iran, that he would put all the last three aside and focus only on the nuclear deal. Now I'm not going to say that was good or bad. I don't think it was a great idea. But what we have seen, and this is also maybe controversial and I think a lot of my liberal friends are going to hate me for this.

[Ashish Burla]

Don't point to me, but okay, I

[Iranian Political Analyst]

know, I know

[Chip]

you point to everyone there. They're all a bunch of nut jobs anyway.

[Jeff]

Notice how civil they're being with each other. This is, this is a change now also, right. We never saw civility like this.

[Chip]

Well, watch what happens.

[Iranian Political Analyst]

You can draw a straight line from the 2015 nuclear deal to October 7th.

[Jeff]

You can Iran.

[Ashish Burla]

I'd love to hear that from some

[Jeff]

administration officials that leveling with the American

[Ashish Burla]

people, what you're saying these thoughtful.

[Iranian Political Analyst]

Well, I think that what the Trump administration.

[Chip]

We do have to go to a break here. Oh, we have to go to break

[Ashish Burla]

on the other side. So hold your thought because I, I have some follow up questions for you about.

[Chip]

Geez, she has to go right when it's starting to get good. Oh, we gotta go right when he calls. I can't handle it. Jeff, here's the same dude on cnn.

[Ashish Burla]

Watch this ago yesterday, this morning I

[Chip]

was told we were not at war. Today in the press conference, PKF says

[Ashish Burla]

in the war, are we at war?

[Jeff]

Are we not at war?

[Chip]

Do we want regime change or do we not? In the very first moment.

[Iranian Political Analyst]

You know, I know this may sound controversial, and a number of, among my friends, some of them is controversial, but I think that a lot of commentary is missing, perhaps the big picture.

[Brad Garlinghouse]

I agree.

[Iranian Political Analyst]

And there is a big picture here. And I perhaps for simple. To simplify it, I would put it this way. I don't think it's right to say that President Trump has started a war with Iran. I think President Trump wants to finish a war that Iran started in 1979, 47 years ago. And I'll just, I'll.

[Jeff]

This is.

[Iranian Political Analyst]

These aren't just words. Let me just tell you an anecdote. In the 2003, 2004, when I was there in Iran working on projects at a very high level, I was talking with deputy ministers, I was talking with, going back and forth. And I was in the Foreign Ministry in Tehran, where I met someone who was very senior, and he was semi sympathetic with the projects we were doing. But as I was leaving, he looked me in the eye and he said, you, as an Iranian American, I want you to know something and listen very carefully. He said, we in this building. And what he meant is the Foreign Ministry, which meant representing the government, which means representing the, the regime. He said, we believe we are at war with the United States. He said at that time, it's a cold war, but it's a war nonetheless.

[Chip]

I know.

[Ashish Burla]

I think it's.

[Chip]

Yeah, well, there goes the civility, Jeff. Right out the freaking window. But.

[Jeff]

But this guy, he knows.

[Chip]

He knows, he knows. And, like, they can't take it. Like, they have him on there. But here's Bill Maher. Check this out. This is Bill Maher from last night on Iran. Listen to this. So this week, war. Did you hear about that thing we bombed Iran, and it's going on now. Have you expected me to say I hate it? I don't. Sorry. When he puts boots on the ground. Yeah, they don't hate it now. I know. Too many happy Iranian Americans. Sorry. Right.

[European Commentator]

And

[Chip]

you cannot name one horrible thing that has happened in the Middle east in the last 50 years and not connected to this fascist theocracy. They're like six degrees of. They don't eat bacon. And it's popular. I mean, Iranians all over the world

[Monica Long]

are doing the Trump dance.

[Chip]

Have you seen that, though? I mean, Bill Maher is the only one. I mean, she's a liberal. He's upset. What happened to the party, which he should be because it's unrecognizable anymore. But at least he calls stuff out like, hey man, this has been going on for a long time.

[Jeff]

This isn't something new, it's a long time coming.

[Chip]

It didn't start yesterday, you know, it's a, it's so.

[Jeff]

It's such a disaster when you see the left, you know, taking sides and siding with the theocracy, you know, siding with, with Khomeini and his, and his ilk, you know, and how, how's that even.

[Chip]

I got it. Someone's at my door. I'll be right back. Right back.

[Jeff]

Go get that.

[UK Viewer]

Genuinely seeking answers from my fellow Brits whilst on like a top tier level. I can talk till the sun don't shine about the geopolitical situation back in the uk. When it comes to the inner workings and the legalities of UK politics, I don't know too much. But what I do know is that the UK is being run into the ground. We have an incapable government. Our Prime Minister is inept. Keir Starmer elected Peter Mandelson as the UK ambassador to the US despite knowing full well his connection to Jeffrey Epstein. Sadiq Khan, the Mayor of London, is an Islamist in disguise. We have a convicted terrorist, Shahid Butt, running as an MP in Birmingham and he might actually win. Crime in the major UK cities is non stop. It's constant, it's dangerous. Women are unsafe. We can't walk around with our phones out, we can't go out at night. Illegal immigration is not discouraged, in fact, it's rewarded. The UK has become the laughingstock of Europe and relationships with our strongest allies have deteriorated. Great Britain is a shambles. And the good Brits, the wealthy Brits, the hard working Brits, the British speaking Brits, the tax paying Brits are tired, tired and miserable even fleeing the country just like I did. So this is my question. What can we do? What can we actually do? Something has got to give.

[Chip]

100. Something has to give.

[Jeff]

She's 100. Spot on. And it's amazing because she said she doesn't really understand the inner workings of the politics. You don't have to, you can just be very observant to realize that the UK ever since Brexit, you know, and, and that was a good thing. But since that point in time there's been a concerted effort to topple the uk, the UK also, you know, you think about the things that they got involved in, the things that they've been supporting on this global scale. Because they want the Islamification for whatever reason, you know, it somehow, you know, benefited them. But they've destroyed their country. And it's, and everybody comes in and says it's unrecognizable from 15 years ago. And everyone who's been there has seen the no go zones and you see the changes now the problem now they have a known convicted terrorist that's running as a member of parliament and the UK is okay with that. You know, it's, it's so warped now in this country we have the same exact problem. The stupidity of the, of the west is the fact that, and, and you hear it from, from leadership in the Middle east, right is that the Muslim Brotherhood outlawed organizations like CARE outlawed. Right. They, they don't appreciate extremist groups that adhere to and support terrorist act. And obviously Iran was the biggest sponsor of all this. That's why all of these subgroups, all these groups around the world, they're all losing their financial support. But this is also why they know it's coming which is why they're rooting themselves in western country to raise more funds. And the stupid stupidity of the west and the left in the west are financially and politically supporting them. So in the UK massive problem. In the US it's a growing cancerous problem where we're starting to see Islamification of certain regions of the US like they're, and they're rooting it out. We see a mayor right now in New York City shouldn't be there. New York City. The voters there are stupid and, and they need, and they need to have a come to a realization moment. This is going to be their, their come to Jesus moment in New York City because they brought exactly what was elected into the uk, into the new, into New York City. And these organizations are doing it purposefully. They're very orchestrated and organized. They've learned over the past couple decades they've been doing this, they've been lying to the, to the, the leftist organizations, they've been lying to the political infrastructure and an organization like care, which is labeled as a terrorist group and now they fought for an injunction and they had a judge that has put that, you know, is going after Florida for that. You know, and so here's an organization that is specifically educating and placing these politicians in order to take down and, and there was someone recent. You know, it's happening across, across the country. They want this to happen just like what happened in Hamtramck, Michigan. And this stuff has to come to an end and we have to wake up as a western civil country to the fact that the Islamification is a detriment across the board. And you also can't have mass migration of populace centers that have low IQ and are coming into the country specifically to live off the teat of the government, not to be productive members of society. And, and you can't single out individuals, but you can say as a mass group. Right? And that's the problem in Minnesota with a Somali community because they're, they, they immigrated mass numbers of them, never integrated them into society. So they're going to bring the cultural activity from Somalia to Minnesota and they're going to act the exact same and they're not going to assimilate into culture in the United States and nor do they want to. And we're starting to see a couple of the representatives, including Ilan Omar and speaking out very vocally in support of Somalia over the United States. They're not here for the benefit of the US they're here for the benefit strictly of their people. And, and that's a detriment to the survival of this country. You come to this country, you come here as an American. Doesn't matter where you come from. I don't care what continent you come from. I don't care what country you come from. You come to this country, it's a benefit this country. You're productive members of society in the US you're earning money in the US you're building business in the US in order to build this country. If you want to take some of yours and donate and say, hey, I want to help Somalia, you know, as the Somalian community, want to help them over there, that's great. You know, do what you want to do. But as an elected official, that can't be your primary objective. It's US number one, US first. You can obviously have passion in your heart. That's where you're from. No one can take that away from them, Chip, you know, but the way they're doing it, everything's ass backwards. Yeah, Europe to see the ass backwardness of it.

[Chip]

Remember earlier you'd mentioned that all these libertarians and these fake MAGA people. The base is fragmented. The base is broken. Well, here's cnn. CNN of all people. Listen to this book.

[CNN Commentator]

Can love Donald Trump more than any president's own party supporters loved him at this particular point. Just take a look here, okay? Own party supporters, 21st century presidents, own party approval about at this point in the second term. Bush was at 77%, Obama was at 77%. Look at this, 86% of Republicans approve of the job that Donald Trump is doing at this point. That is higher than either Obama or Bush had within their own party at this point. Trump's magic touch has not seemed to wore off yet when it comes to the Republican base.

[Jeff]

And what kind of approval are we talking about here?

[CNN Commentator]

Okay, so we're talking about.

[Chip]

We got to get it. We got to get clarification on that. That's possible. It couldn't be true.

[CNN Commentator]

Overall approval here. How about the strongly approved? The strongly approved. Not just like, but love.

[Chip]

Love.

[CNN Commentator]

Okay, we're going to look at these same presidents again. Strong approval among your own party's base. What you see is Trump is the only one who gets a majority at this point in their presidency. Obama was at 48%. Bush was at 47%. You see her, Trump at 53%. Not as high as overall approval rating, but still getting f around.

[Chip]

Ask another dumb question, get another answer. You're not going to like their son. Isn't that funny, Jeff? You got to love that. I love that. I love this. Sometimes sports figures speak out, Jeff, and they say stupid things, whatever. But Antonio Brown is a former NFL, you know, American football player. Posted this. Look at this here. Here he is right there. So it says, dear feminist, Trump just freed the most oppressed women on planet earth. And you hated it.

[Jeff]

Right? That's so true.

[Chip]

Right? And you hated it. I was like, you know, all of this feminism and this and that and the women and dontra. Meanwhile, the one group of people that were forced to wear, you know, head scarves and burkas and all that kind of crap and tortured and I mean, for all these years, and they, they were against it job. It's just, it's. It's beyond insanity at this point, man. And then here's another move. This is why Trump doesn't f around. This is another one right here. Trump outmaneuvered the British Empire at Hormuz. A viral breakdown exposed a subtle but devastating dynamic unfolding in the Persian Gulf. In a single stroke of economic and military genius, this Trump administration appears to have neutralized one of the UK's most ancient and powerful geopolitical tools, potentially crushing a key ally's economy to secure American energy supremacy. The crisis began when Lloyds of London, the world's only Jeff insurance market large enough to back the staggering value of the global oil fleet, abruptly announced it would no longer ensure any vessel transiting the Strait of Hormuz. This move, according to arms, would have effectively grounded the 20 to 30% of the world's oil that flows through the 21 mile choke point. Trump just killed the British Empire. Let me explain. This is the Strait of Hormuz. You've been hearing about it on the news. About 20 to 30 of all oil in the world goes through the strait. Here's what you don't know. In order to go through the straight, ships have to have insurance. There's only one company in the entire globe that's big enough to ensure all of oil tankers going through that straight, and that company is Lloyd's of London. It's responsible for about 2% of the British Empire's GDP, over a 40 billion contribution to the United Kingdom and 50, 000 jobs. But it's also a geopolitical tool for the UK and they decided they were no longer going to ensure anyone going through the Strait of Hormuz, which would have halted all energy shipments. What kind of giant fu to johnald Trump to confuse and distort the energy markets and make America look bad. But Trump said the United States government's going to start insuring these shipping companies. Not only that, but they're going to provide personal escorts for these boats with the U. S. Navy. In just a matter of minutes, the United States has shut down one of the largest geopolitical tools the United Kingdom had all the way back to the 1600s, and not only ensures that they no longer have a geopolitical leverage, but it's going to crush their economy. It's not like Lloyds can just magically come back online now. The United States is insuring these boats, which, by the way, were the reason the boats could even go through the straight anyway because of the United States military. It's not like these boats are going to go back to Lloyd's of London insurance. They're probably going to stay with the United States. Trump knows this. A very subtle move, but incredibly important. And what's interesting about this, Jeff, he's actually making it available for less than Lloyds of London was charging. So in one move he says, you want to f us F you. We just, boom, took out Lloyd's of London. There you go. Any questions? I can't think of any.

[Jeff]

It's amazing. And this is, this is the problem over in the uk. I mean, they've lost their narrative so long ago, but they did certain things very subtle that people didn't realize how they're manipulating, you know, and the UK's been orchestrating a lot of, a lot of the issues around the world in order to Maintain their, their position and they really, they have nothing. Now you take that away from them. I don't know what the UK has left other than they better get in check because, you know, they're, they're also speaking out. And Starmer, you know, what he did to Trump, no longer respected, you know, the guy, you know, basically backstabbed Trump and wasn't there in the, in the hour of need and, and that, you know, that loyalty, you know, goes a long way and there's zero loyalty coming from the uk, from the Prime Minister, you know, and now he's, you know, now they're trying to backtrack a little bit and trying to get in line. Hopefully they will go and protect their own bases and protect some of the, you know, areas of influence around the Middle east, which they should be doing. But the fact that just the way they came out, it's just this, this is unfortunate. This is the lesson they've got to learn, you know. And here we go.

[Chip]

Yeah, take this. Wrong story, Jeff. This is another, another. There's so much winning going on, I'm not even getting tired of it yet. But there's just a lot of winning you gotta acknowledge. But take this next one right here. Time for Zeppelin. See you later, Mark. We're gonna be winding up anyway. Here we go. Take that story, Jeff.

[Jeff]

Saying that's the first time I've heard that. With a bit of luck, it may take us to an early election. That'd be great if you guys can do that. Breaking massive Second Amendment win the D.C. court by anyone overseas that the 2A, that's our Second Amendment. So this is really important one, gun rights. The D.C. court of Appeals just struck down Washington D.C. 's tyrannical ban on firearm magazines over 10 rounds, ruling it a blatant violation of the Second Amendment. This is our right to bear arms shall not be infringed. Period. This is a normal victory for gun rights. The court made it crystal clear the right to keep and bear arms isn't limited to what politicians deem acceptable standard capacity magazines. What the left calls high capacity are uncommon use for lawful self defense and are protected under the Constitution. And, and that's exactly it. And we've seen this happen around the country where they try to limit, you know, the number of rounds per magazine. And if you think about some of the standard, you know, like I have a little Caltech carry, but it holds in the extended magazine, I, it holds more. I like the shorter magazine. It only holds uh, six rounds, uh, one in the chamber. So seven, but it's small. In my SIG, I have. The standard is 17 with an extended magazine for 21. Now, imagine standard could only be 10, you know, when you know, it can hold 17, you know, very comfortably. I have a P320M18, which is really nice, but that. That's kind of like, you know, this the standard, you know, 15, 17, the. Obviously, if you go with a smaller carry gun, you're going to get less rounds in a magazine. But you can't have government politicians limiting what you can or can't buy. I mean, that makes zero sense to me.

[Chip]

Yeah, well, you shouldn't even have to register. It's the second amendment. You should, right? So not be infringed. You don't have to register for anything. You don't have to have to carry a permit. It's your right is the Constitution. Fraud alert. AOC Alexandria Oesio Cortez voted against releasing sexual harassment records of members of Congress, but wants to lecture you on Epstein scam. Canceled. Well, that's what Nancy Mace was saying about aoc. AOC shot back, lady, your sloppy resolution would have doc's victim statements that had identifying info. It redacted names and nothing else. House employment records can match statements to reverse ID names. Take your job seriously, fix your messy loopholes, and I'd vote yes. You know that. Not hard. Okay, well, since you can go ahead and fix it and put it back again, let's see if who votes for it. I don't think anything's going to change, personally.

[Jeff]

Hey, your kebab houses are good, though. I mean, that's. You can't get knocked. Turkish barbers and the kebab house. I love kebab. Kebab is good.

[Chip]

You want to see something, Jeff? This is funny. You know, like when. When Trump mentioned about the Somali pirates and then he put the picture of Omar. So someone. Someone thought it'd be a good idea, you know, and of course, if you're from Pittsburgh. Just saying if you're from Pittsburgh. The Pittsburgh Pirates are the baseball team in Pittsburgh. So somebody took and made Omar a. A player for the Pittsburgh Pirates. There you go down and watch the

[Ashish Burla]

Somali pirates in action.

[Chip]

We provide daycare during all home games.

[Ashish Burla]

Come on down and watch the Somali pirates in action.

[Chip]

We provide daycare during all home games. Holy cow. And then. How funny is that, Jeff? That's too much, right?

[Jeff]

Can't believe people do this. It's so funny. It's the greatest AI ever.

[Chip]

And then, of course, you know, I. Someone thought it'd be a funny idea to also put Eyepatch McCain, better known as Eye Patch McCain. There he is right there. Dan Crenshaw lost. He was. He was all drunk on some podcast. He was all upset that he lost. What a loser. What an absolute freaking loser, Jeff. And then, you know, Jesse Jackson's funeral happened, and Jesse Jackson's son said, listen, anybody that gets up and speaks, do not bring your politics into it. Well, everybody brought their politics, you know, he said, leave your politics. You're there to honor a man and say something about his death. And this is what Joe Biden said to a largely African American crowd. Here, Jeff, look at this. That's the wrong one. Here we go. Told you all earlier, when I was

[Jeff]

a kid, I had a cleft palate or club foot.

[Chip]

None of you would have laughed. He had a club palate and a club foot. Jeff, what the hell?

[Jeff]

But it's okay to laugh at stuttering.

[Chip]

I'm not being critical of you, but think about it. It's the one place where people think you're stupid. Oh, really?

[Jeff]

I'm a hell of a lot smarter

[Chip]

than most of you. All kidding aside.

[Jeff]

What the.

[Chip]

I'm a lot smart place where people think you're stupid. Oh, really?

[Jeff]

I'm a hell of a lot smarter.

[Chip]

Most of you. I mean, I. There's so many clips of this. It's just, just. I mean, you know, I mean, if his son says, don't get up there and talk politics, and. And that was just something stupid he said. But they were all talking politics up there. I mean, holy cow, Jeff, what the hell's going on up there? I mean, you know, I can't believe

[Jeff]

that guy can still speak.

[Chip]

Yeah, it's. It's a. It's a weird thing.

[Jeff]

Now that I'm speaking, what do you think about.

[Chip]

What do you think about this meme? It says, guy with his thumb up. It says, liberals always wrong but damn pleased with themselves.

[Jeff]

That's so true. Always looking down. But he also.

[Chip]

Spot on. That is so spot on. So, yeah, I was just. I. I had John Deaton's feet up here. Here he is. Had a great time in Lawrence celebrating Dominican Republic's independence days. God, homeland and liberty. And then here he is here. Enough jokes. We want an audit. Is the audit for the state of Massachusetts? Taxpayers are asked to pay more, expect less. More waste. More spending, not enough accountability. You work hard for your money. The government should treat it with respect. I'll fight for responsible spending, oversight. Here he is right here. Kelly waits tables. The state this is her. A video. She waits for her tips because Massachusetts taxes them. She's losing about 10,000 a year. Politicians call that revenue. I call it nonsense. Do you really like taxes that are so. That's Trump's no tax on tips he's talking to, you know, hammering that home. They're using your tax dollars to bury sexual harassment scandals. Corrupt politicians are protecting their own. Here he is driving to the big old. I don't know, he's driving the bus there, cooking up ideas to fix message. He drives his own political bus and we're hitting the road. Drop a comment, tell us where our next stop should be. Don't worry, unlike Walter White, the only recipe in this RV is common sense. John Deaton. Corruption is right in front of our faces in Massachusetts. The only question is how much longer voters are going to tolerate it. Owning a home, Massachusetts should not be out of reach. But for many families, rising costs. I mean, it's running a good campaign. A lot of good videos, a lot of good stuff. Time to go nuclear, in my opinion. You talk about John Bolton and the jackass he is. Ed Markey co authored the Green New Deal. His campaigns, he campaigns on it. But when it came time to vote, he voted present. Yeah, that's right. Not a no, but present.

[Jeff]

Right.

[Chip]

So these guys, that's how they get around it, to be tied back to them, which is.

[Jeff]

Right.

[Chip]

Freaking hilarious, dude. That's all really the time I think we have, Jeff. I think that was pretty much it. We ran an hour and a half campaign here, went long,

[Jeff]

only talked about the ripple. All right, one more thing for like two minutes.

[Chip]

One more. That's a fun one. This is two Europeans watching a video about how difficult it would be to invade the United States. Listen to this.

[European Narrator]

Suppose they somehow land. Now comes the real enemy, the continent itself. Deserts, mountains, swamps, snow, every mile.

[Chip]

It is impossible.

[European Commentator]

Look, America, to be fair, I think we need to call America a continent. You know, calling this a country is weird because it's so big. They have desert, they have mountains, they have, you know, snow, snow, swamps. There is a bit of everything there, you know what I mean? It's crazy.

[European Narrator]

While different, every region hostile. The Rockies slice the west in half. The Mississippi floods its plains. The Appalachians twist the east into endless ridges. Each barrier splits armies and burns fuel. Even US convoys need weeks to cross in peace. In war, it'd be hopeless. The Great Plains look flat, but their open exposure nowhere to hide from drones or jets. The deserts kill engines with heat. The winters break them with ice. Nature doesn't just slow invaders, it starves them. No refuel points, no factories, no friendly locals. Every state line becomes another front. And that's before you count the 330 million people already living here. Most.

[European Commentator]

330 million. I thought it was a bit more, actually. But let's say there is 300 million in America. There is more GS than that.

[Chip]

More guns than people.

[European Commentator]

More GS than people.

[European Narrator]

Good luck of them armed. Here's something no invader wants to hear. America has more guns than people. 390 million firearms, 120 for every one can use it.

[European Commentator]

Yeah, yeah. And I think even people that don't care about GS or if. If there is an invasion, I think Americans would unite, you know, everyone.

[Chip]

Basically, he's like, finally, I can use it.

[European Commentator]

No, but it's crazy.

[Jeff]

I'm joking, guys.

[Brad Garlinghouse]

No, he's.

[European Commentator]

I mean, I think, I think it's true, actually.

[Chip]

Oh, my friend is getting best.

[European Commentator]

No. Invading America is really, really difficult. It's really, really difficult, actually. Again, the entire world is such a crazy scenario. But for sure, if there is a country that you have doubts, if it's possible, is this one. Canada. Portugal can invite Canada 100 citizens.

[European Narrator]

That's not an army. That's 50 million potential militias. From Maine to Montana, from Texas to Alaska. Every home could be a stronghold. There are 15 million licensed hunters, more than most nations militaries. That's why the Japanese Admiral Yamamoto supposedly said we could never invade America. Behind every blade of grass is a gun. Even if the okay US military fell back, the population wouldn't. They know their terrain. They stock ammo like winter food.

[Chip]

That's why they say you don't mess with America.

[Jeff]

Yes, and no idea.

[Chip]

I'm telling you, if it's good to be proud.

[European Commentator]

If Russia, Europe and China for some reason say we are going to defeat them. I'm telling you. Americans would unite the automatic come the

[European Narrator]

largest guerrilla war in human history. Afghanistan bled superpowers dry with a few hundred thousand rifles. America would fight with with hundreds of millions. But even getting close enough to test that is almost impossible because the sky sees everything.

[Chip]

Oh, look, it looks on their faces. Jeff is fantastic. They can't.

[Jeff]

I know. I love. I love videos like that.

[Chip]

I detected a Portuguese like Portugal can invade Canada. Like that was the best. Like Canada. You can walk, Cakewalk Canada.

[Jeff]

Nothing.

[Chip]

Yeah, I love it, man. Well anyway guys, that was a lot. We did a lot. We'll impact more tomorrow. We did an hour and 45 minutes. It'll go a little longer.

[Jeff]

8pm Eastern Standard Time tomorrow night.

[Chip]

We gotta run out of here. But that's it, man. We've gotta see you guys tomorrow. Some stories we're gonna cover, we kind of got pushed because we watched a long video. Watch the rest of that video. From the 16 minute mark on, we got another eight minutes to go on that video, and we'll see you on the next one. And Jeff.

[Jeff]

Oh,

[UK Viewer]

are you down with ot?

[Chip]

Please, like, subscribe and click the bell

[Jeff]

to be notified when the next video drops.