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On The Chain - Blockchain and Cryptocurrency News + Opinion
XRP: Ready to Explode? | Ripple’s $1.25B DeFi Play Could Unlock Trillions
01:24:45
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- [00:00]
Unknown Speaker
Foreign.
- [00:04]
Jeff
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 on the Chain community, you know who you are, man. XRP ready to explode. Ripple's 1.25 billion dollar D5 play could unlock trillions. Trillions with a T. Ripple just had made a massive move not that long ago looking at that broker hidden road, big acquisition opportunity that could reshape institutional crypto Chip forever. That's right. Brad Garlinghouse breaks it down in a crypto in one minute and he keeps it to one minute. We're going to tune into that, see what's going on. We're going to break that down. We're going to break down his one minute segment in about an hour it'll take us to go through it. But here's what the XRP army really needs to know. This isn't just some acquisition. It's a D5 power play that again could unlock trillions with a T in trade volume, transform trade Phi clearing and position, XRP and. And maybe only the RL USD at the heart of institutional adoption. We're going to get into that and a lot more because there's something going on with a fire aid scandal and there's like a hundred million dollars just missing. Poof. Evaporated. And usa. Usaid, the dissolution of USAID is decimating all those liberal talk shows one by one by one. They're all disappearing. And we have to ask ourselves why Trump, Nvidia, Powell and the AI race. Chip and I were just talking about AI, all that and we're going to map and we're going to pack that into a 60 minute segment. But since we're spending about 58 minutes breaking down Garlinghouse's one minute segment, that gives us like 30 seconds for the rest.
- [01:53]
Chip
That's how it works, Jeff. That's how we do it here, how we roll. Not to mention the seven minute open. So that too. So let's go. Welcome everybody. Drop in where you're coming from. I see all the great faces in here today. Everyone's coming in, everyone's excited. It is fantastic. You got a lot to talk about today. Just never ends. There's so much stuff going on. There's so much winning going on. The winning is insanely good. I hope everybody is enjoying the winning, which is always a good thing. And Jeff and I got a, a rare sort of a. We had a, we had a. Went and got a Guinness the other day.
- [02:41]
Jeff
We did.
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Chip
And we got One of those rare moments where we hung out and got a Guinness and I said let's live stream. And like now from the middle of the pub, right? The Irish pub was great. So we just.
- [02:55]
Jeff
Awesome.
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Chip
As you can see. I didn't realize mine was tipping and like foaming all over the place when I was taking it. But it's okay.
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Jeff
And they, they poured it pretty tall. Well, I mean flowing a little bit.
- [03:05]
Chip
Traditionally if you go over there, it always flows over the edge. When you grab it, the whole thing side. They'll take the little thing and. And then it's all over the. They. They do it pretty neat in the States. I'll just say that they don't mess around. They, it's. They clean up the glass and you don't get a crappy ass glass like that. So anyway, let's jump. Let's jump into this Brad Garlinghouse minute. This is some. I don't think people realize how big this is. It's like, oh, it's a crypto minute. But this is, this is again, Ripple is making some very strategic moves and it's great to see. Here we go. Let's. Brad Garlinghouse, be honest.
- [03:40]
Brad Garlinghouse
Who is better, me or David Schwartz? Hi, I'm Brad Garlinghouse.
- [03:44]
Chip
I'll be honest. Brad Garlinghouse. You think Garlinghouse is better? Team Garlinghouse started a thing going on. I'm gonna, I'm gonna, I'm gonna put this out there to the, to the. To a vote and I'm going to say who is better?
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Jeff
There we go.
- [04:06]
Chip
Are we Team Garlinghouse or Team Schwartz? Let's see, we'll see. We'll put up.
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Jeff
I'll create that. I'm going to create the poll over here. Let me log into our back then.
- [04:18]
Chip
I'll do it on X too. So we'll do that. And look, Garlinghouse brought it up. So you know, it's like not. It's not us. We're not the ones bringing it up. It's Garlinghouse all the way. So that's what we will do. Don't say that too loud, Jeff. I don't know what it was, but don't say it. Don't say it. So it was something you said better. But go ahead and put the poll up. Let's see what everybody here thinks again. He brought it up in the beginning. Who's better, Schwartz or Garlinghouse? Let's see who the OTC fam thinks. And then later I'll go ahead and put that up and Then we'll, we'll circle back on, on tomorrow night, I'll set it for 24 hours and we'll circle back and see what that's going to look like, which would be great. So let's listen in and let's be.
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Brad Garlinghouse
Honest, who is better, me or David Schwartz?
- [04:58]
Chip
You.
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Brad Garlinghouse
Hi, I'm Brad Garlinghouse. This is Crypto in one minute. Prime Broker is really a one stop shop that allows all kinds of different asset managers, whether these are well known hedge funds, trading desks, market makers. It gives them a one stop shop venue to trade and clear everything from digital assets, derivatives, swaps, all kinds of assets. And these guys are doing trillions of, of dollars of trades. Historically those have been really owned by the traditional commercial banks, the JP Morgan's, the Goldman Sachs banks now don't do well. New players like Hidden Road, a company Ripple bought recently, is new to this space and they're growing very quickly. By serving that same market but also including digital assets as part of the mix, having a well capitalized and a super strong balance sheet player like Hidden Road is allowing more institutions to come into these asset classes against a well capitalized counterparty. And that is Prime Brokers bringing people into crypto in one minute.
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Jeff
Wow, that's pretty fast.
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Chip
It was a minute. Jeff. I want to break down Jim D's comment. Garlinghouse doesn't dress like a billionaire. How does a billionaire supposed to dress? Dude, that's what I want to know. How does a billionaire dress? Instead of curiosity, you know there's something.
- [06:18]
Jeff
But Brad, Brad Garland house is always very well put together. You know, nice Chris shirt, nice button down shirt all the time. Typically, you know, he's got a suit coat on. You know, he's always very well impressive, you know, just overall, just how he presents. There's got to be, got to be something to learn from that. You know I look at, you know how we come on the show with our T shirts kind of laid back and everything. No, but it's funny too because I've been watching some shows about that and then people are talking about dressing at work, you know, to, to impress and everybody that's talking about on their podcast, they're all wearing T shirts. They're talking about impressing at work, but on the podcast it's okay, you can dress down on the podcast but then when you go into a work environment, should you wear like a polo shirt? Is that clean enough? Or should you be wearing a button down shirt and like press sl, you know something, you know, with a Nice leather dress shoe. Not like the sneaker dress shoes, but like a dress shoe.
- [07:21]
Chip
That's why Chad says it right there. A billionaire dresses any way he damn well pleases.
- [07:26]
Jeff
That's right.
- [07:29]
Chip
Very, very well spoken. David's too technical. Yeah, I agree with that. There's. David is very good with the technical stuff, but I sometimes think he loses a lot of people and he has this way of stringing this stuff together where he just kind of starts talking and I'm like, whoa, dude, slow the. Slow down, bro. And then this thing that happens and when you go to rebel behind the scenes is that he's very fast talker, very cohesive. Billionaires comb their hair. Chip. Damn. I combed it through today once. Billionaires don't have long hair either. There you go. Billionaires comb their hair.
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Jeff
I don't know about that. You see that one guy that's in Monaco, he's got the beard, the crazy hair, the.
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Chip
Oh, yeah. The guy's like David style. I love it. Yeah, there is a funk. There is a funk to that. There certainly is a funk. He's got the long hair too. He's like a rebel. He doesn't wanna. Doesn't want to let go of that.
- [08:25]
Jeff
I think so far, man, Brad Garland House is crushing it in the poll already. He's like, brad garland house has 77 of the vote so far.
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Chip
Holy cow.
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Jeff
We're only two minutes in.
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Chip
You had Jimmy John's on his clothes. Yeah, I do remember that. Hey, listen, man, that's okay. When you're intact, dude, anything flies. Anything flies. That's right.
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Jeff
He's got to be comfortable. You know, he's sitting behind a computer.
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Chip
It's all good. And so let's. I want to break this down a little bit, you know, what are your thoughts about what Garling House is talking about when it comes to hidden road?
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Jeff
Hidden road. You know, I find it to be, you know, interesting. You know, you and I talk about this all the time. Which comes first? Are we getting crypto getting into traditional centralized banking for Main street, you know, to really start stimulating movement within the Main street, you know, or are the Main street banks getting into crypto first? Now we're starting to see a blend of the two. The. The fact that they really have to move in that direction. There's no choice if they want to get more identification. And we can talk about Main street could be retail or it could be institution. Right? So getting into the whole. Getting into an exchange, getting into a platform that is, you know, heavy already within the Main street is, is really critical for them. You have to, they have to move out of the stigma. It can't just be cryptocentric, it can't be software centric. They have to show that, you know, they, they can be players, you know, that can have a major impact across the board and not just as a back end support solution, that, you know, there's more to it. And they have the technology chip, they have everything baked in. And so if they utilize it correctly with an established platform, it's game changing. If not, then it's not game changing. Right. So they need, they need established presence within the centralized financial institution. Has to happen. Otherwise they're going to be fighting an uphill battle for the next decade because that switchover is going to take a lot longer or they just become a back end support and let the banks and financial institutions do it. So. But there's going to be a challenge. I look at it, there's going to be competition across the board. Everybody's going to get into it. All right, These guys have big player, first mover advantage kind of, you know, from a crypto perspective, banks and financial institutions have first mover advantage already being in the industry for Main street, rip, big acquisition, gets you there a little bit faster. And that's going to be on both sides. So we're going to start seeing heavy competition across the board. And this, it just helps as a catalyst to move this entire industry, you know, a step further towards normalization. Is it going to happen in 12 months? Is it going to happen in 24 months? It's happening right now. It's just a matter of until it becomes galvanized. But we're starting to see all the big players coming into it soon. You know, we're going to start seeing probably bigger acquisitions coming from like a PayPal wants to get in, you know, bank of America's of the world, the JP Morgans of the world, the fidelities of the world, they're all moving in that direction as well. And these guys, you know, Ripple is putting their, you know, definitely putting their right foot forward, that's for sure.
- [11:56]
Chip
Yeah, I made a couple notes on this. Yeah, I think, I think it's spot on. It's, it's interesting that what we talked about is really coming true. So a couple things that I was thinking about. So one of the things Garlinghouse talked about was institutional capital. And he talked about like, you know, traditionally you had these sort of like the banks, you know, your Goldman Sachs, your JP Morgan's the world they were normally where sort of the gateway for, let's say, the institutional investors. You know, he named a couple of, like, hedge funds, your asset managers, you know, and when you talk about accessing markets, when you think about the custody side of the house. Yeah, Ripple has that. The lending side. Yeah, okay. In trading on the, you know, the trading side talked about all the trades that are happening. When you think about DeFi, and he said it opens it up to a more than $2 trillion sort of market. And I think really what's gonna make this come together is legislation because there's that volatility of not understanding where, you know, where the market is. And then I think when it comes to, you know, clearing the bridges, like on the trust side of it, the defi, because it's decentralized, I think there's a distinct advantage here over the fact that, you know, and we know DEFI requires, you know, smart contracts. You know, it doesn't have, you know, your typical intermediaries, like what with the regular, you know, traditional finance or trade fi, as they call it. You know, you've got your kyc, your AML stuff. The prime broker is really kind of opening up to, like, your derivatives, your swaps, your, you know, your crypto trades. And you think about one of the things he dropped in there was like, very subtle, but he's like, hey, by the way, we acquired, you know, we acquired Hidden Road. And I think when he talked about acquiring Hidden Road, you know, that was such a really pivotal puzzle piece that was missing. So now you've got something. And then they picked up about a lot of banking licenses with that. Okay, so now you've gotten Money, Money transmitter. So what that does is that gives you this sort of. This, you're compliant, but it also is going to reduce any kind of sort of when you think about counterparty risk. So I almost see that this is merging of their traditional finance, kind of like with your decentralized finance. So your trade fi, your DEFI is coming together and, you know, having like these open systems, kind of almost a hybrid model. And when you think about prime brokers, you know, acting as a bridge, they can now offer services, kind of like Hidden Road has FX equities, you know, those. Those types of things. You know, the digital assets, this is where this comes in as a big deal. And I think as it scales, this is where an organization like Ripple is going to absolutely 100% best, like the JP Morgan's the World, because they're not. They. They're traditional, they're not in the defi space. And I think that you know, the defi is what, what people are really moving towards. So there's going to be trillions unlocked when it comes to trades. You know, think about liquidity, who can provide the liquidity? When you think about the leverage, you know, think about like risk management tools. It's, it's going to be. That's why I think this is, this announcement is so critical and what he's, what he's talking about here and you Talk about this 2,3 trillion dollar market is massive and I'm not sure the traditional players are going to be able to you know, catch up. So when you think about the hidden road, you know it's really owning this global multi asset sort of a, you know, they're a prime broker and now they're going to leverage XRPL for this really fast, you know, post trade settlement. And again this is where the, the XRPL's big time advantage comes in over other orgs. Like you think about a JP Morgan, they got the jp, you know, the JPM coin. You think about like Goldman Sachs. These guys, I don't know that they're going to be able to catch up and if they do, they, you might look at them purchase like going the other way where they're going to purchase somebody who has that. But I don't think anybody's even caught up to where Ripple is right now and what this does. And again you're challenging the, the incumbents, the big banks, people that were traditionally, you know, your traditional prime brokers were legacy, they're controlled, right? Everybody went through like a Goldman Sachs, a JP Morgan and now Ripple is going to move over junior because this other component that they have now especially I think what's when it's all going to come together is when we have the legislation and you're going to see it explode and the incumbents, the traditional players are going to be gone. And you know, because Defi, a lot of the problem with Defi is issues with like local liquidity. You know, the tech can be a little bit challenged. Like people think oh, and then right now we've got this regulatory issue. We're like well we kind of don't really know. So I think that these will all be mitigated. You think about liquidity pools, you know, blockchain and all this kind of stuff. So I think it's an incredibly, you know, big deal. And I think what we have, what we're gonna have, it's gonna open a lot of things up, but especially on the extra XRP site, RL USD, you already saw the blue chip, ranked it as number one because they have all the components, man. They have all the components. Your circle is a, you know, sort of a, you know, one, you know, it's, it's a singular type of thing. Now they have built in the payment system on the backside and that's fine. There's going to be plenty of people that show up, Jeff. But I don't really necessarily think that when we envision kind of how that's going to look, there's going to be a lot of room for a lot of different players. But Ripple has really stepped up. I've been so impressed the moves they made the last two years. They've really stepped up because I thought kind of, I mean, sure enough during the lawsuit, they weren't going to make any moves, but they were strategic in their thought pattern and what they wanted to do and how they want to achieve it. Because you go ahead and get Hidden Road and man, you got a lot of the big boys, you got the black rocks of the world. You have everything locked in now. You have this suite of services, the custody side of it, the trade side, the defi side. You're basically pocket launching all of these orgs. And so when they get the banking license, I think November is when they're looking at getting that. It's over. You know, Ripple will officially be a bank. It's. They will have the banking sort of power.
- [18:24]
Jeff
Yeah. So. So here's to the point, I think that has to be identified also. You know, with all of this, Ripple has established themselves for institutions. Right. Whether they're going into retail play is a different story. And we'll have to see. And that's where the hidden road, and you brought that up, you know, perfectly, because all the, the big boys are going to use them. Right. They're used from Hidden Roads perspective. And it says it right here. The global credit network for institutions. Ripple has always been an institution play. It's always about the big financial institutions. It was always about moving money. It wasn't about moving money for retailers. That was, you know, stellar. Stellar was all about the unbanked and moving money for retail and figuring that out. So even when we saw Ripple and Western Union partnership or working or whatever, that wasn't the play. All right? That's not the Ripple play. The Ripple playbook and, and we'll see how this, you know, how this expands. But it's all about backing the institutions. The institutions need the infrastructure without the infrastructure then, you know, we're, we're working with legacy systems. So that's where Ripple is so far ahead of everybody bringing in the RL USD, which is a retail component, but it's also an institution component. So if you can start leveraging the technology that Ripple has the technology of acquisition through like a hidden road which states it again right here very succinctly, the global credit network for institutions bringing all sorts of technology to, to these institutions. This is the back end, you know, with fx with precious metals, digital assets, synthetics, over the counter swaps, OTC swaps, you know, and that's across the board, fx, equities, commodities, digital assets, energy rates, etc, and there's, there's more technology there, but the clearing aspect is massive. If you can start clearing fx, you know, think about the issues, you know, that, that we all, you know, we all have across the board, you know, with, with all of these different components, you know, and that's, and that's where this is all at, you know, which is. Here we go again with the camera thing.
- [20:43]
Chip
Jeff, you need a new camera. Jeff, what's going on?
- [20:46]
Jeff
I think so. I think it's the USB cable is, keeps disconnected. Get a new cable, get a whole new camera. That's a whole new camera. It's. Yeah, I gotta replace the whole thing. I have another one at the office. I'm gonna swap it out and that way I'll have the better one over here.
- [21:03]
Chip
Yeah, we can't have that, Jeff. It's unacceptable.
- [21:05]
Jeff
No, it keeps happening. Let me remove myself for a minute, okay? And then I'll be right back. I'll be right back.
- [21:12]
Chip
Just be right back. But it's, but we're living in good times. I mean, I mean, I think that when you think about like, you know, where you are in your life, you know, I'm probably, you know, ahead of a lot of you guys and maybe age wise or maybe I doubt very few of you are older than I am, but I look at, you know, things that I've seen in my world, right? So the personal computer came into effect and it changed the game and now allowed people to do things that traditionally only like larger organizations could do. Then we got into the Internet, which changed the rewired everything, right? Made so much and it had access to everything. Especially you think about news today. We know about stuff like that. You're not waiting for the 6 o' clock news, you're not waiting to read a newspaper. Like it happened so quickly. And then I look at the next Big evolution was cryptocurrency, right? With the. With. With the advent of bitcoin. And now we've got AI. So when you start combining AI with trade fi, it's in even further into the defi side. We are living in, like, some historic times to see a lot of that happen over a course, even if you just caught, like, the tail end of the Internet. But even crypto and AI, These are massive. You think about throughout history, some of the big movements that happen. We are living in some really phenomenal times. And what we've seen with this new administration and what we've seen with embracing crypto, and we've also seen, when we think about that, the. The bill that just went through, you know, the stablecoin bill, we had a lot of Dems cross over. So you're starting to see a turn right. Is it going to be for. Is it going to be a lot more. We'll wait and see. But it should be a bipartisan issue. It shouldn't be partisan at all, because I think it benefits. It doesn't matter what your politics are. It's going to benefit you on both sides. So I think that's something we really need to sort of get a little tighter on. I think that's something that we're going to really get good at. So I wanted to just kind of break that down. Also, we've got here. There's, again, there's so much great stuff that's. That's happening out there in the crypto world. We can't cover it all. We just. We kind of just pick little pieces here and there. I wanted to talk about this. Geez, Jeff, what did you. What does Jeff do?
- [23:23]
Jeff
He's.
- [23:23]
Chip
This camera's still not working. There we go. XRP Plumbing. Thank you for. Gosh, I can't wait to put that up. Thank you for that. XRP Plumbing for Jeff's. We're taking up a donation for Jeff's new USB cable. Let's go. Let's go. I think it's a camera. See you next week, Jeff. That's already starting. He can't get his camera working, man. Well, what are you gonna do? He has a separate camera. I just use the onboard camera on my MacBook. So it's. It's good. It's. It's actually better. I got one of those fancy schmancy cameras. You know, it's a pain in the ass because it's on a little tripod and you always got to move it. It's always bumping into things. I was like, you know what? Just let me just use the one on my MacBook. Let's just do that. I used to use it and sometimes it was crooked and you had to adjust it. It was just too much work then, you know. Remember those old school ones used to sit on. They used to sit on your monitor. They'd sit right there. It's always weird to me. Like, I do a lot of sales meetings here and there. Jeff. Oh, we almost had you, Jeff. Yeah, he's. I think it looks like you've activated a different camera. You're using your phone or something. He's just kind of working it. So I think we will have it. But sometimes I'm on, I'm on calls with people and the whole call is like this and I'm talking to them and they're. Because their camera or like this is what it looks like. They're looking at their monitor, looking at me, but their, their camera somewhere else. I'm like, it's really awkward. Always have the camera in front of you so that when you're talking, it looks like you're talking to the person. It's always so weird or it's far away or the camera's in another way. I'm like, guys, this is like, this is not that hard. It's just like, you know, kind of a decorum where you get on camera and you kind of look into the camera. That's it. I get it if your camera's somewhere else, but that's the problem with having these cameras because it's really hard if you got bigger monitors, got these two big monitors here and it's really hard to sort of figure that out. It's always, yeah, keep it simple. Stupid. Yes, Kelly. Right. Keep it simple. But sometimes what I've noticed is common sense is not so common anymore. It used to be common, which is why it's called common sense now. It's like very, very infrequent. You see that happening where anybody has any sort of sense, sense at all. So this year right here, Doppler Finance. Look at this. They teased this right here. Doppler might soon introduce another use case for Ripple USD. Stop holding. Start earning on Doppler. So again, another, another play where you're going to be able to stake and, and do well. This is, it's exciting to be able to see stuff like this. And then we've got more markets we're going to look at. I want to, I want to play this interview here. Let me see here. Let me go ahead and Grab this interview but I wanted to do this crypto ready had this amazing clip. Just succinct couple of questions here but this is for More markets and I wanted to play this first and we'll get into some of what this is. Let's see if I can find the actual video file because I did clip it. Here we go. More Market. So let's take a look at this one first. This is their video and then we'll take a look at the the interview. Here we go.
- [26:21]
Alton Tutard
Just entered the Defi era and it's a $160 billion opportunity. XRP makes up over 4% of the total crypto market and nearly one fifth of all altcoins excluding Bitcoin, Ethereum and stables on chain activity is strong with 5.6 million unique active senders and 10 million transactions per week driven largely by payments XRP's core use case. But despite all this, most of the XRP just sits idle. There's no native staking, no real way to earn until now. More Markets launches XRP Earn accounts a secure, self custodial way to finally earn on your XRP. With just 1% of the XRP market that's over a billion dollars in unlocked liquidity for defi simple secure made for xrp. More Markets is live. Let your XRP Earn start earning at more markets XYZ and follow More Markets.
- [27:19]
Chip
Now what I like. I'll tell you one thing I saw right that I didn't see right away but this More Markets. You see how the, the I guess what you would refer to as the O looks like A plus, which is more plus but it's clever in a sense that it's almost the XRP logo sort of turned on its side. Not exactly but again it's a suggested sort of. You kind of look sideways you see an X. But it's clever how they did the more which looks like a plus. Very, very, very clever logo. One of the better ones I've seen in a while. I don't usually see a lot of people put that much effort into logos anymore. Especially if you look at some of the redesigned ones like Jaguar. This looks like someone went to their computer accidentally selected a font and you know, 100 years of history just wiped out in a, in a nanosecond. And then this one right here, this is an interview that we have here. This is from Alton Tutard, he's the co founder of More Markets and Crypto Eddie did a fantastic interview. I would pop over to her channel to watch the entire interview. I don't know if she's posted yet, but she did clip a little piece of it and we're gonna watch that now. But this is a couple questions. Kind of get you a little bit deeper into what they're up to.
- [28:28]
Crypto Eddie
Markets is a decentralized solution. It uses what actually Flare uses, which is an MPC network. We use message passing like Axelar and Wormhole. When you deposit in the more markets, what happens is that we lock the XRP on the XRP ledger and mint another version like Flare does onto different networks. So for now we deposit, we mint on Ethereum, but eventually we can mint it to Flare or any other blockchain and that goes into a strategy like AAVE on Ethereum. So that's the whole flow, right. When, when you deposit XRP is locked, we use an interpro interrupt solution like Wormhole that goes in there and then we basically the yield comes from RL USD on aave.
- [29:15]
Chip
There's actually so, so that was like the big question. So like where's the yield coming from? Right. And later he kind of gets into the percentage you can hope to earn, not the 15 to 20% you see floated around there. I mean it's not a sustainable thing. But on AAVE is where it's basically that's where the yield's coming from. So that makes a lot of sense right now. He said Ethereum, but again they're going to be doing, they're going to be moving a lot of different places. Flare will be another one. Because what's necessary in order to make this work is smart contracts.
- [29:44]
Crypto Eddie
So 250 million RL USD on AAVE. So the, the yield actually on more markets are coming from those vaults that Ripple Labs incentivizes and puts 10% APY. But since we can't do one to one. So when you deposit one XRP, we can't take one RLUSD. Instead what we do is we take a half of that.
- [30:09]
Chip
Right.
- [30:10]
Crypto Eddie
So if ARRI deposits two xrp, we now have access to one rlusd, which we then can deposit into aave. And all of this happens in a decentralized manner through from XRP ledger to Ethereum.
- [30:25]
Chip
Through the use of smart contracts.
- [30:27]
Crypto Eddie
Yeah, through the use of a combination of smart contracts, MPC and message passing.
- [30:35]
Jeff
Got it.
- [30:36]
Chip
There were some crazy articles out there about percentages in the yields that seem unattainable or at least unsustainable. You want to address that at all? Because it seemed to be a little, a little out there for clickbait maybe.
- [30:53]
Crypto Eddie
Yeah, thanks for asking. Definitely want to clarify that I think 20% APYs are really unattainable. We've seen some of those yields through other blockchains, but that's not the vision of more markets. More markets wants to give sustainable yield sources and they all come through RLUSD. So we are targeting something like 4 to 5% on XRP, which we think is sustainable in the long term. But 20% APYs are not sustainable. If you see them anywhere. I would question that. It's that these journals, they want to get clicks and getting a 20% APY is a good way to do so.
- [31:37]
Chip
Yeah. So this is more markets. You kind of missed the original one. But again, what they do is they're using AAVE for. For the yield to create the yield on Rl USD 4 to 5%. I think it's gonna be roughly around there. And also it's on Ethereum right now. But they're looking to move the flare because they need the. They need the smart contract solution. So that's kind of how it works. Just because you had last week off. Jeff wanted this week off. I got you, so. And then I will be off for a little bit. So we took a collection up. Look at this. You just need USB cable, XRP plumber. And we got Rough Rican who never fails. Rough Rican. It never fails, guys. I mean, why is it always the same guy, the same two people? It's always going to be XRP plumbing and. Come on, man.
- [32:23]
Jeff
Oh, you know what happened? So I went out it. I was moving my laptop in front of me, disconnected everything. No cameras worked. Got out of it, rebooted and the and stream yard reset everything. So everything reset. So I had to go back into logitech and then re. So I repositioned my camera and logitech. I had to go back through all the video settings. So all of a sudden I was just like, everything went out.
- [32:49]
Chip
I was wondering why it took you so damn long, man. It was.
- [32:52]
Jeff
I rebooted, went back in, had to change everything. Went through the whole setup. So the difficulty of streaming from here, you know, I don't. I. I should just set up at the office and I'll stream from there all the time. It'll be perfect high speed.
- [33:08]
Chip
Well, then you got to go to the office.
- [33:10]
Jeff
No, I know. Yeah, rather not do that.
- [33:12]
Chip
Make your coffee and you're all set and ready to go. Jeff. It's halfway through. Let's go ahead.
- [33:16]
Jeff
Oh, it's halfway through already, man.
- [33:18]
Chip
Messing with your camera.
- [33:20]
Jeff
I know. I can't believe I've been messing with my camera. 30 minutes.
- [33:25]
Chip
XRP Plumbing says my gut feeling is telling me, be patient. By the middle of 2026 or sooner, banks will want to start cussing your crypto. Well, next week, city announced that they are, you know, going to be able to custody crypto, so. Yeah, you're. You're right on about that. Yeah. So it's nice that they're the first ones, but you're right. This is going to be a very big, you know, profit center. They'll charge you a little bit to, you know, custody it and people feel better. It's really. It's. Whether you like banks or not, it's mainstream adoption. Main street adoption is what we need, so.
- [33:57]
Jeff
Exactly. Let's roll this. Here we go. You ready?
- [34:00]
Chip
This is a tribute to Ozzy Osborne because it's a little bit on the heavier side, so a tribute to the legend Ozzy Osbourne out there.
- [34:07]
Jeff
Ozzy here.
- [34:25]
Unknown Speaker
From the blue tr. Word of the day. Yay. You got your S and wallet ready. W is going to be epic. It's time. Time to claim your legendary blue driver, Yeti of the cl. His name. Let's go. Wow. All the chain basket is born for battle made for legend. Claim yours will be forgotten. Best yet is on the chain. On the chain.
- [35:15]
Jeff
There you go.
- [35:16]
Chip
Headbanger. That was a banger, Jeff.
- [35:18]
Jeff
I like that. Then there was this little bit of an outtake here.
- [35:35]
Chip
I like that. I like that. Great tribute. Yeah, fantastic tribute. What a. I mean, just that. That concert he had, man, and. And it was just, man, the fact that he was in so much pain. He wasn't. He was off the painkillers. The fact that he was doing that show, the fact that he struggled through it. I even watched the. When they, you know, when they were doing a sound check, he wasn't supposed to sing, and he just started singing his heart out, man. It's. Yeah, Ozzy was. Ozzy was amazing, man. Ozzy was just an amazing, amazing guy. And the Black Sabbath stuff is just legend, man. It was great to see everybody up there again. And. And it was funny because a buddy of mine, buddy since third grade, he said to me, he's. I like, I was talking to him, I go, what'd you do on your son's birthday? He goes, well, we watched. We watched all the Aussie show. That's all he wanted to do is just watch the whole thing. And I was like, that's pretty cool, dude. That's a. What a cool bonding moment, you know, that he was really into it. So that was pretty cool. We got, let's see. So guys, seven, man. This is what's going on. I'm a little bit, I'm a little bit shocked over here. Yeah, we only have seven. Come on, people, let's type in the yeti. Come on, John. I don't see your yeti there. Type in the yeti there. Dr. Sean, we need you, man. We need to start. We get a yeti from you. Zober's coming in. We got Smithson coming in. Yeah, Ray, run. No, it's not dead. That's a good. You know what, what a great segue, Ray, run. These guys always like bring stuff up, right? They're like smarter than us, Jeff. They, they're on. Their pulse is right there. They know what's going on.
- [37:14]
Jeff
So there we go.
- [37:15]
Chip
The grad crypto who's actually pretty good. I was, I was. Listen, I wanted to see what Blockchain Backer had. He didn't have anything web based. He. I didn't want to go into his videos, but this is what he was talking about. Stabilizing the top of the 21 EMA. We're seeing long lead candles. Decrease in volume is evident. Selling pressures easing. Keep your fingers crossed. The bulls can generate some green volume to break through the descending trend line. And if they succeed, the 21 EMA is robust support level. However, if we don't see the momentum, we see another sell could push the 21 EMA on the, on the time frame. And then he also had this one here where the insights. So he said if. Let's talk about what happened in the past with the 21 EMA and 25 SMA on the weekly time frame. So in March of 2017 we saw this bullish crossover leading to an astonishing 40,000 pump until the cycle top. And then in August of 2020, we saw another bullish crossover and XRP surge around 750% before reaching its cycle top. While there was a mini pump in April of 23. He doesn't factor that into the analysis. Now in this cycle as of October 2024, we have another promising bullish cross between the 21 EMA and the 55 SMA. So so far we're experiencing a 560% pump. So this is a lot of words there and I kind of think that we are just. I really think that it's not over. I don't think it's over. I, I really don't even really think it's begun because a lot of things are going to change that. First of all, regulatory clarity, getting past a lot of things that are happening, you know, with, with orgs out there, especially with Ripple, especially how it's going to affect XRP and the xrpl. I think we're just getting started honestly.
- [38:56]
Jeff
And I think there's still not enough movement chip.
- [38:58]
Chip
There isn't right now but, but there will be, there will be and I think when it blasts off it's gonna, it's gonna go, we need, we need.
- [39:05]
Jeff
More, we need more transaction, we need more investment buys and sells. The institutions are going to be big somehow. There's an issue right now with the XRP etf. They retracted based on some update yesterday. So once I believe once that ETF goes in and gets approved for the XRP then you know we're going to start seeing things really take off. Right now we have the BTC etf, the ETC ETF remains a little bit sluggish, you know, even with the price movement of ETC with Ethereum. But once the XRP ETF goes live now all of a sudden we're going to see. I think that's going to be a sign. I think that's going to be the, the pivotal moment to where the whole crypto space is going. Mainstream Bitcoin is there. It's already gained its recognition, its identification. It's within the ETFs. It's getting institution and retail investment heavy. And now we get to that next level. XRP ETFs institution money flows in. Then it's also opening up the channel for other ETFs. After that then you have people, BTC etc and XRP ETFs that are solid ETFs from both a retail and an institutional perspective. Now we're starting to see momentum. So you know, I think you're, you're right. We're just starting to see the beginning. Then we're going to need massive volume. You need to start seeing development in the space. There has to be more right. Where we're at right now with XRP I think is good with a little bit of FOMO. Push price points up from $0.50 to $3 to an all time high. Retracted. Now we're sitting probably back to where XRP is valued at until it gets more momentum. And that's the one thing with the asset with xrp it's still following Bitcoin. It's going to follow Bitcoin's lead. But it was, I don't want to say it was artificially suppressed but let's say due to all the issues that were kind of on the table, it was being, the price point was being held back. So now we're, and again, you know, if we go back in time, then we look at xrp, once it hits kind of its base, there's going to be a little fluctuation, probably going to drop under $3 again, just based on history, historical, because we don't have institutions, we don't have massive volume movement on it. Whereas Bitcoin has the big volume movement because of the ETFs and because it's in traditional, it's available to traditional investment. You know, so there, there's still more Play. I think 26, 2026 is going to be a more pivotal year for crypto. We need more legislation stacked up to see market stimulation. You know, I, I believe that's where that it's at. And I'm not even thinking about chip technical analysis. Those guys, they can dig in and look at technical analysis all they want. I still don't know how you apply true technical analysis if your entire market is based purely on speculation and there's nothing behind it. If you have zero behind it, zero, nothing behind stocks, zero Main street, there's nothing. What's that?
- [42:17]
Chip
There's nothing behind stocks either. If you want to get critical, right? I mean that's the problem.
- [42:22]
Jeff
But at least you have a company behind it though. You have something.
- [42:24]
Chip
But you do see cycles though. You do see that there are cycles there.
- [42:28]
Jeff
Because, and I think from the technical analysis perspective, the cycle that they're looking at is pure psychology. It's all psychology because now it's based on what's happening on an annual basis. What's motivating people to move money in and out of an investment.
- [42:46]
Chip
Right.
- [42:46]
Jeff
What's the trigger point? What's happening like on a global economic scale that's going to boost confidence or pull back confidence of what the technical analysis is starting to reflect is it's looking at those minute by minute, hour by hour, day by day, incremental changes within the human behavior. And so if people are starting to buy in incrementally, the technical analysis is picking up on that. And now we have cycles. You just like, you know, you have seasonal cycles, the seasons impact people. So if summer people are traveling, then the, they're less likely to trade. If you're on, you know, if you have downtime and you have a 24 hour opportunity to trade, you're probably more likely to trade. You know, you're probably not trading on you know, Fridays and Saturdays, but you know, maybe you're try trading on Sundays. I don't, I don't know. But all of the technical analysis is able to go back and monitor all of those human behaviors, which I think that part is really interesting. And then when they start breaking it down to the EMAs and the SMAs and looking at price movement and they're looking at all the technicals because now we're looking across, you know, thousands or hundreds of thousands or millions of people. You're collecting all of that data and seeing all those micro changes that, that's impactful, you know, so that's where the technical analysis is analyzing more than just oh look, there's phone, you know, price and fomo. But you'll also see the spike in fomo and again it's related and there's, there's incremental build up to it. So that's, that's the cool thing about it. But beyond that, the human emotional cycle, what else is there? But I think from Chip, from the stock perspective at least there's something.
- [44:34]
Chip
Yeah, but here's the thing. This last cycle though still the last cycle was absolutely predicted. You could actually see it coming down. It was predicted it was going to blast off. So there are. Well, I agree with you on some things. I'm starting to, I do think that you know, we knew this was going to blast off. I mean it was predicted by so many tna. But the problem is, is just I, I kind of agree with you and I don't really think market cap is the right. But you don't take something from legacy and then bring it over to like the market cap really doesn't mean a lot. I mean it can if you want to judge it in certain aspects, but it doesn't really talk. It doesn't address anything that crypto is about. So it's just like a traditional stock does. What it's a, it's a, you know, a portion of an organization that you're investing in, you know, type of thing that they're going to do. Good, bad, the stock's going to go up. Crypto's way more complex. So market cap seems weird to me on that news there. So it's always hard to understand.
- [45:28]
Jeff
Marcus saying I'm hearing that the four year cycles are dead. BTC reached all time high before April 24having was the first sign, 50% drawdown than local highs. So. But it's interesting because you've got different commentary. Jim D. Is saying crypto hinged a 4 year U S POTUS election going forward.
- [45:49]
Chip
Could be. Yeah, that's something. I agree. Agree with that too.
- [45:52]
Jeff
Yeah, they're all of those things. Are into it. Yep.
- [45:55]
Chip
Talk about this. Trump put this out. Fire aid. Fire aid. Was that that big funding was an OR concert they had. And the whole idea is it was supposed to fund the victims. So fire aid is a total disaster. Looks like another Democrat inspired scam. $100 million missing was supposed to go to Los Angeles fire victims. Fires that with proper management would never have happened. Governor Newscom refused to release billions of gallons of water from the Northern California and the Pacific Northwest. What a difference it would have made. I have since overruled him and it is now released. All federal housing permits have also been approved. Approved. The city is years late. Get the fire victims to their approvals to rebuild and do it now. So that was something he put out to me. It's just such a weird thing. I want to play this clip by California Representative Kevin Kiley who kind of breaks it down, but he's talking about. He's talking about this and this is where. And then we'll play something from Trump here. Let's see. Where is this? Where, oh, where is this damn video? And it's so funny that I cannot find it when you need it. Looking for it, looking for it.
- [47:07]
Jeff
Look at that.
- [47:08]
Chip
There it is, huh? Buried, but here it is. This is Kevin Kiley talking about this.
- [47:13]
Kevin Kiley
I have asked Attorney General Pam Bondi to open an investigation into the fire aid concert that took place in the aftermath of the devastating Los Angeles fires. What has happened, what we have learned is absolutely beyond belief. In the aftermath of these fires, which destroyed 18,000 homes and killed tragically 30 people, there was a fire aid concert in which a number of high profile musicians generously agreed to perform. And people responded in an amazing way. Tens of thousands of people donated, raising $100 million for what they were told was direct relief for the victims. But now we've learned that this money didn't go to the victims at all. Instead, it went to nonprofits, some of which have nothing to do with fire relief, where they promote things like voting and civic engagement and multi generational power building. Some of them aren't even located in la. So I've asked the Attorney General to open an investigation in order to restore the intent of the donors, in order to make the victims whole and to bring accountability. I yield back.
- [48:19]
Chip
It's amazing to me. It is absolutely incredibly amazing to me that, you know, people's hearts go out. They wanted to donate, they Wanted to do something and for what, when you think about it, for what reason, you know, here we go. We have this here. This is said previous supporters. So what kind of nonprofits? He talks about the nonprofits. It was a nonprofit that cleans preschool bathrooms. There was a California Native Vote project. You have the Pasadena NAACP also got money. They sent 3.3 million to musicians and the Sweet Relief Musicians Fund, the Music Health alliance and the Black Music Action Coalition. The podcasters also got paid too. One of the podcasters only got seven views. Jeff. We get more than seven views. Thank God. Thanks to everybody out there. We do get more than seven views. We don't get paid for anything. Only one. And we wouldn't want to get paid for this. I'm just saying. Only 1 million went to the LA Fire Department Foundation. 1 million out of 100 million went to the fire and it was supposed to go to the victims. So let's talk about the celebrities. So you had Billy Crystal, Quinta Brunson, you had musicians, Alice Lannis, Morissette Anderson pay Billy, Billy Armstrong from Green Day, another anti Trumper, Dave Grohl from Nirvana and Foo Fighters. I would say not more so. Dave Matthews, Dawes, Dr. Dre, Earth, wind and Fire, Phas, Oconnell Flea from Red Hot Chili Peppers, Gracie Adams, Grape Nash, Green Day, Gwen Stefani, Jelly Roll, Joan Jet, Jo John Fargaty, John Mayer, Joni Mitchell, Katy Perry, Kim Gordon, Sonic Youth, man.
- [49:57]
Jeff
Haven't heard that for a while.
- [49:58]
Chip
No, I haven't heard that in a long time. Chris Novoselic, he is from. He was the bass player in Nirvana, Lady Gaga, Little Baby, Mike Campbell from the Heartbreakers, who was the guitar player for. For so many years. No doubt was there Olivia Rodrigo, Pink, Asapluma, Red Hot Chili Peppers, Rod Stewart, sheil E, slash, St. Vincent, Stephen Still, Stephen Nicks, Stevie Wonder, Sting, Tate McGray, Taylor Goldsmith from Dolls and Black Crows, Violet Gro and then that's Dave Gro's daughter and you two and the Eagles. All these people, these bands generously donated her time. Came out, came together to raise money. People were very excited to do so. And what happened?
- [50:39]
Jeff
The money, where the money go?
- [50:41]
Chip
Where the money? Where the money gonna thank Thomas Brennan. Thank you Thomas for that. Appreciate that super sticker Thomas said earlier. He was. When I was. When you were gone, I was talking about the segment about what I got to see in my lifetime. Personal computer, Internet, crypto and AI. Like four major.
- [50:55]
Jeff
Yeah.
- [50:55]
Chip
And I was like, I'm older than most of you. If you haven't A chance to see it. And Thomas said, I'm 68. I'm sure you're younger than that. Slightly, Thomas, slightly. Thank you for making me feel better. But that's okay. We're, we're in the same, we're, we're in the same decade there, so it's all good. My man. Thank you very much. Appreciate that. But Jeff, I mean, this is insane to me. I mean, what, what is going on that, that this kind of stuff is. So they asked.
- [51:19]
Jeff
It always happens though. This always. This always happens. This happened with the Haiti Red Cross relief, and that was a major scandal that none of the money actually went to them. This is, this is just, it's just, you know, so common that. And what kills me is you look at that list of A listers, right, and there's. There had to be, you know, at least 100 of them, right? Were there about 100 A listers that, that showed up? And how much did they raise? They raised 100 million. Or did 100 million disappear out of what was raised?
- [51:52]
Chip
Well, not only that one. Everything disappeared. The money disappeared. They never tracked it. That's why this stuff has to be on blockchain.
- [52:00]
Jeff
But here's, here's the thing. You bring one of these people in ship, let them donate to participate. What? I, I just, I still don't understand. I don't want to give a dot. I don't care if a musician shows up. I don't care if an actor shows up. If you're going to come up, what they normally do is donate their time. And they probably use that time donation as a tax write off. Now you want to, you know, you should be able to use. You want to use your celebrity because that's how you're earning power. That's great. When you have hundreds of millions of dollars sitting in a bank account someplace and there's something like this that's like a fundraise for relief for direct victims. And you're going to figure out a way to, to monetize on it. You know, give something away, give something back. Don't just think by showing up, that's giving back. Who could give a crap if you show up? Especially if you're taking something in return? Show the, the criteria for a musician of that caliber to show up should be a $1 million investment or a donation. You show up with a million dollars, you can participate. You don't show up with a million dollars, you don't participate. And then you'll see. Now we'll see who actually gives A right. And it's the same thing with the actors and actresses. You have hundreds of millions in the bank and you want to show up just to use your celebrity to raise money from the public. You know, that to me it's, it's such a travesty, you know, to w when we see that, because they're also the first ones that come out, you know, you know, very outspoken against conservative values, very outspoken against, you know, our republic, you know, and so they wanted, they want to have it every single way, yet they want to go back to their walled gardens, you know, and go to their, you know, fake Hollywood life and all of this, they don't really care. They just want to put their celebrity out there. If they really, really were passionate and they cared about stuff again, take money out of your pocket, put a million dollar stake on it. You invest a million. Now all of a sudden it's like, hey, we've raised a hundred million. Or say, here's the list of everybody, dollar for dollar, everything that is raised from the public. This group is going to match it dollar for dollar, you know, as a pool, you know, they'll figure out what that total number is and they'll split it up amongst them. Either that or you bring a million dollars to the table. Yeah, obviously they had others, you know, so figure out the scenario. And now we're talking about instead of 100 million raised, there could have been 200 million raised. Now, now we're talking about something that, that actually makes sense. But instead, not only do they not raise the money, but they pill for the money. Right? And there's expectation that they're going to get paid to show up for a donation. And that's the problem with a lot of the nonprofits, quote, unquote, they have a fat administrative cost and you'll raise a fraction gets goes to. And this has always been that way. So that's why it's always important somebody calls you up to raise money for something. Well, tell me how much money is actually going to the organization? Is it 100%? You know, you are, you know, a for profit, you know, entity that's, you know, that's sitting in and pretending to be part of the nonprofit, but you're not the nonprofit. The nonprofits hire professional fundraising organizations to put on shows or to raise funds. And then you gotta figure out how much money is actually going to the, to the, to the cause. And you'll be shocked at what actually goes to the, to the cause and how much money goes to the, you know, for Profit, fundraising, you know, it's amazing to me.
- [55:42]
Chip
Does it all on a blockchain designate, an intermediary that's going to be tracked and transparent and show you where every donation ended up.
- [55:48]
Jeff
Yeah.
- [55:49]
Chip
You know, I mean, so here's Trump. He was asked the question. This one, he has to say. I got a couple of questions for you. One is about fire aid. That's the benefit concert.
- [55:57]
Jeff
They had a Pacific Palisades.
- [55:58]
Donald Trump
That's horrible.
- [55:59]
Chip
Raised $100 million. But some reports indicate that the majority.
- [56:03]
Jeff
Of that money has never made it to the act.
- [56:05]
Donald Trump
All of it. It's horrible. I saw it last night and I referred it to the Attorney general, and I think they're going to look at it and I think they're going to act very strongly. I think it's very swift. 100 million. More than $100 million and nobody. They just walked away with a money, it would seem.
- [56:21]
Jeff
Right.
- [56:22]
Chip
Yeah.
- [56:22]
Donald Trump
So that was a horrible.
- [56:25]
Chip
I mean, it's just like, it's, it's, it's like a. You know, it just happens over and over. It's like constant. Like it's on repeat. You know, the. Jeff, USB cable rant. That's what it's called. That's what it shall be. That's what it shall be called. You know, that's.
- [56:39]
Jeff
You have those $99 donations flooding in.
- [56:44]
Chip
Yeah, the 1.99 donations. I love it.
- [56:46]
Jeff
So the USB cable donation ahead of.
- [56:50]
Chip
Ahead of the things. Trump in Scotland and the EU is amazed that a country can actually control its borders. Yeah. So it was. It was actually pretty cool to see him there because of. Of the fanfare. Like, I was really even impressed at. Let me see. Here's. Let me play a couple of these. So first of all, we're gonna play this one. I'm just queuing up the clips as we have got three video clips here. And then we've got.
- [57:19]
Jeff
Mg. You're right. There's non profits with executives making much more than six figures in some cases. Look at that. Like the Red Cross. How much. How much money the CEO makes or any of those big ones, the big charities.
- [57:34]
Chip
I got that one in there. It's voice. Yeah. I mean, it's, It's. Why would you give. Why would you. So did they think that these nonprofits were going to donate it? So they were going to give it to the nonprofits? Was that what they're going to say is, like, well, we. We didn't know. This is what we thought. So here's Trump. Look at the crowd that Assembled for Trump just landing. Not going to see anybody. He's going to come down the steps and get in a car. But look at this. Look at the crowd waiting for him to land. They just showed up. They got a gate there, and they're just. They. Everybody's got their cameras. They're looking and hoping for a shot, a glimpse of Trump.
- [58:10]
Jeff
Oh, in Scotland.
- [58:11]
Chip
So when you say that, you know, if you say that Trump isn't liked, well, maybe by the government and they could put out a word of propaganda they want. But the people. The people are interested. Right. And he basically landed. He came down the steps, he waved, he got in his, you know, the big. The big limo there, and that was it. That was pretty much it. And now look at this. This is him going through a small town. Now listen to the excitement. So especially the kids are so excited. He waved when he went by. Now listen, look at this.
- [58:41]
Jeff
His mom is.
- [58:44]
Chip
Look at how excited they are. What's an excitement, kid?
- [58:46]
Jeff
Look at the beast. It's so funny to see those. Those vehicles on Scottish roads. Bring the beast. They're still big to that.
- [59:07]
Donald Trump
Did you see.
- [59:13]
Jeff
You know what the best thing is of all of that? None of them. None of them saw it first person. They also saw it through their. Through their phone.
- [59:25]
Chip
That's okay.
- [59:26]
Jeff
Instead of stopping and savoring the moment for one second, every single one is looking through their phone to watch it.
- [59:33]
Chip
You want to know something of the proper party? I have the best footage of Lenny Kravitz. When. When September 29th rolls around again, I will post those videos. You'll be like, did they send a professional crew? No, this guy looked through. I was looking like this. Both. I was experienced in the moment, but I was getting Lenny Kravitz. And you know what? I got the footage. And you know what most people do? They do the vertical thing. Oh, look at vertical. I'm an. Look at me. Oh, you know, look at me. I love a soccer mom. We call them over here football moms, you know, because they got to get their kid. And it's unwatchable because the thing's bouncing all over the damn place. What's going on? Yeah, mine's perfectly stable. Beautiful shots, nice zooms. Right. I've got that and of a lot of concerts that I've. That I've seen where I've got the footage. I experienced it, I listened to it in the moment.
- [60:17]
Jeff
You don't record the entire concert. You're taking segments of it.
- [60:21]
Chip
Yeah, but, I mean, maybe I'll. Most of us, I'll be getting Paul McCartney on November 2nd. So I'm going to Atlanta.
- [60:30]
Jeff
Get your little segment. So you know.
- [60:31]
Chip
Yeah, that's, that is true. But here, now listen what he says in an interview in Scotland. Check this out.
- [60:38]
Donald Trump
You better get your act together. You're not going to have Europe anymore. You got to get your act together. And we, you know, as you know, last month we had nobody entering our country. Nobody shut it down. And we took out a lot of bad people that got there with Biden. Biden was a total stiff and what he allowed to happen, but you're allowing it to happen to your countries and you got to stop the, this horrible invasion that's happening to Europe. Many countries in Europe, some people, some leaders let it happen and they're not getting the proper credit. They, I could name them to you right now, but I'm not going to embarrass the other ones. But stop this. Immigration is killing Europe.
- [61:25]
Chip
He's not wrong. It's an invasion. It is killing Europe. It's 100% spot on right there, Jeff.
- [61:30]
Jeff
Yeah.
- [61:31]
Chip
And it's, it's incredible to, to hear him, you know, CNN has had to be really honest with them. Chris Cillizza, who is no fan of Republicans or Trump. Listen to this. I had to see if this was AI. I was like, really? Is this real? Check this out. This is Chris Cilliza talking about the last six months of the Trump presidency. Incredibly argue that no modern president has had a more consequential first six months in office. I'm not putting a value judgment on the word consequential, but it's been very consequential. Donald Trump is right about that.
- [62:07]
Kevin Kiley
He's been busy securing a cease fire.
- [62:10]
Chip
Between Israel and Iran, pushing $4.5 trillion in tax cuts through illegal border crossings are at a record low, inflation is lower than the tape was at the start of the year, gas prices are actually affordable and the stock markets continue to look up. It's all those things Americans wanted, right? What he campaigned on. Yeah, it's what he campaigned on. And there's so much fricking winning going on, Jeff, you know, and I'm still waiting for Stephen A. To pull over and come over from the dark side because Stephen A. Like, gets off, does these rants. He's still clingy. He's still clinging to it. Yeah, he's still clinging to it. It's taken him a lot longer to transition. But you listen to the Stephen A. Now, you don't have to agree with everything. He says, I've loved him for many, many years, and I love the fact that he's outspoken, he gives zero Fs about it. He just. He just goes raw. He shoots off his, you know, whatever's on the top of his head. And you never see many people just operate like he does. So I have a lot of respect for him. And again, I don't have to agree with everything, but you gotta, like, watch a little bit of this clip and just watch how he, you know, how he frames this argument.
- [63:19]
Stephen A. Smith
You're talking about Trump winning the election in 2016, and you then turn around and show proof that there was a concerted effort by the Obama administration to derail his presidency. That creates problems. Not from the typical scandal stuff. And you listen, I remember when the Republicans were trying to disrupt Clinton's presidency by living on a Monica Lewinsky situation, okay? And essentially you had libertarians going all crazy and all of this other stuff.
- [63:53]
Chip
He lied.
- [63:54]
Stephen A. Smith
He lied, and he did this in the Oval Office.
- [63:58]
Chip
Now, Jeff, if you got a Democrat calling out the libertarians, which are Democrat like, Jeff, do we call them out all the time? Because libertarians always call them out. I don't want the Democrat label, but in a lot of ways, they're worse. I mean, Democrats, they're almost worse than Democrat. Democrats stick together. Democrats are very cohesive sort of a group. The libertarians are nutters, man. They are like nut jobs. I mean, floaters. They're floaters. Look at that. I got balloons, Jeff. Balloons are going up.
- [64:26]
Jeff
But, but here's. Here's what the Democrat mantra. And so this is where he's still trying to figure out where he is on this whole opinion thing. But I guess he's talking about how the libertarians were crying, you know, about the whole Clinton thing, you know, interfering in. In that part of it, you know. But to put that into any perspective, you know, when. When the whole Monica Lewinsky unfolded, the significance is that, you know, is that Clinton lied about it.
- [64:57]
Chip
Right.
- [64:57]
Jeff
You know, and it wasn't just he was covering up his affair with Monica Lewinsky. He perjured himself, you know, based on the fact that it was a case regarding the sexual harassment of other women. So it was all relevant. Then it gets into the Monica Lewinsky part of it, says he doesn't. So that's where the relevant part of it, it wasn't strictly. It ended up being the emphasis and focus of the whole thing was on the whole Monica Lewinsky. And then he said, it depends what your definition of is is. And, you know, Then the whole thing unfolds. And you know, how he treated, how they treated. And it wasn't just, you know, because Bill was like the kind of guy, he's just the party guy. All right, Everybody loved Clinton. But then you look at, you look at who was behind that, right, With Hillary. Hillary was. When they went on that Arsenio hall show and Hillary Clinton, they asked about the women that were around him and stuff, and she came after every single one of them on the Arsenal hall show and defame them and defame their characters and destroyed them on the Arsenio hall show. But everyone's like Clinton. You know, they worship the Clintons, almost like they were worshiping the Kennedy family. Not quite to that level, but. But it, it amazes me that then the Democrats, the Libertarians, they want to come back and say, well, this whole thing, they were trying to impeach Clinton over Monica Lewinsky's and his affair that he had and the fact that he was getting, you know, BJ's in the, in the Oval Office. Okay, well, he did all of that, but that's not why it went all the way. It was because he was perjuring himself over another case, and that was the case that he was trying to cover up because he was covering up all of his litany of affairs. There's a whole history of them. Why doesn't anyone, you know, they don't want to acknowledge that. That's the, that's the crazy thing.
- [66:47]
Chip
Well, it was Watergate. The Watergate was about, it was a break in and it was all about the COVID up. Right. So, you know, worse than the actual crime. But don't forget, Trump brought those women that Hillary defamed to one of the debates she was running against Hillary in 2016. He had him, that was his guest sitting in the front row like that against Hillary. I mean, that was. You just don't get any more powerful than that. We'll listen to a little more. We're not gonna listen the whole segment.
- [67:08]
Stephen A. Smith
That's what they were saying. Okay. But it did, it did lead to Clinton losing his law license, ability to practice law for several years. Okay. And obviously it was a scandal that really, really stained his presidency to some degree, even though he won back to back elections. So we understand that. But you can't ignore scandals like this because if it involves the CIA, if it involves the FBI, if it involves the weaponization of law enforcement in this country, then we got a problem. We got a problem.
- [67:43]
Chip
Yeah, we got a problem. He goes on to get even More information. And it's like, it's a. I just. I'm waiting for Stephen A. To kind of come over, man. I'm just like, he's on the edge. And then he'll go. Then I'll go, like, right back in the Democrat camp for a while. But it's just like the way he talks, the way he thinks, the way he breaks things down. It's just still surprising to me that he's kind of come a little bit to the center. You know, he's. He was. When he came around with the immigration thing, that was another big thing for him. So it's just kind of. It's a little bit troubling. Here's Trump and Powell. If you guys missed this this week, this was something to behold. Trump looks like massively powerful and Powell looks like a little. A frail old man. Look at this.
- [68:21]
Donald Trump
A long way to go.
- [68:22]
Chip
Yes, sir. Mr. President, are there things the chairman can say to you today that would make you back off some of the earlier criticism?
- [68:30]
Donald Trump
Well, I'd love him to lower interest rates. Other than that, what can I tell you?
- [68:36]
Chip
Yeah, so he answered a bunch of questions and stuff. He got into the whole thing about, you know, the $3 billion overrun, all this stuff. Like, what does the Fed need new offices for? What are these massive offices for? What? It's insane. It's time to get rid of that. He wants them to get rid of, you know, drop the interest rates. It's just gotten to be way too much overhead, Jeff. I mean, this whole thing has been great. So after that meeting, this is what Powell had to say about it. I want to talk about President Trump's visit yesterday.
- [69:03]
Alton Tutard
As you probably heard by now, President Trump was a little aggressive with me. He kept calling me little man. At one point, he lifted me up like a toddler and literally put me in the corner. He said, you stay right there until you lower the rates, little man. Then he just left. I don't ever want him to come back to this place. So I'm afraid I'm going to have to lower the rate.
- [69:28]
Chip
Well, it was effective. Put him in the corner. No one puts baby in the corner. He throw him right. He threw. He threw him right in the corner. It's that time, Jeff. We got how many? We don't have enough people. We have 18. Get a couple more of those things. Play the. Play the trailer and let's give away this yeti and get out of here.
- [69:46]
Jeff
Do that. Dude. I was using the new chat GPT agent. It's pretty insane.
- [69:53]
Chip
That's pretty wild. Yeah.
- [69:54]
Jeff
I can't believe I asked it to do something and then I got pinged while we're on here and it went through, researched and wrote me an entire itinerary, but it dug in and it kept asking me questions about timing and where, where I need to be and all that stuff and flights. And then it put in a. I asked it to put a five day itinerary together and it, it delivered the most in depth, like precise, like where you should go, what the hour sequence looks like, you know, where, you know, recommendations in the area, other web links. Man, that's crazy. That was the first time I used it. That was insane.
- [70:34]
Chip
Yeah. I mean, the only value I can see, Thomas Massie bringing XRP Plumbing, saying the Federal Reserve is a private bank. Trump has no say who's hired and fired. Yeah. But his term's up next May, so he does have a big say in who he wants to appoint. If Trump really wanted to show up at us, he is. Oh, he's gonna audit the Fed. The timing will be right, but he'll audit the Fed. Thomas Massie, who I dislike because he goes against the will of the people and the president all the time, but he did author a bill that is to audit the Fed. That will happen. Okay. They're gonna audit the Fed. Now, if you don't think since 1913, left unchecked, that there's no fraud, I would be willing to sell you some farmland here in Florida, some swamp land. You guys will love it. It's fantastic. It's got five feet of water, bugs and snakes. You're going to love it. You grow any crop you want.
- [71:19]
Jeff
Might be Everglades.
- [71:21]
Chip
Everglades. Give you, give you some of the Everglades. You'll love it. It's going to be fantastic. So it will get audited. Yeah, I will get audited and shut down, definitely. Well, that's what he's doing. What do you think? The external revenue sort that's bypassing the Fed. All this stuff is to bypass the Fed. He wants to get rid of the irs. There'll still be, there'll still be irs, but you know, businesses and corporations will still pay tax. You'll have, you know, he wants to get rid of it for 1 5050k and less. Now he does this. This is what, this is how you govern a country. This is what the founders envisioned before this 1913, you know, recess 12, recession, before three of the major obstacles to it were taken out in the Titanic. Yeah, sure, a lot of that Stuff happens. But let's get ready to do the badass yeti. Roll the clip and let's go, Jeff. We're getting ready to roll.
- [72:24]
Unknown Speaker
Break. Head care from the blue tribe. Word of the day. You got your s and wallet ready? W. This is going to be epic. It's time. Time to claim your legendary blue driver. Yeti of the clown prospect. Name his name. Let go all the chain. Bas yet is born for battle. Made for legend. Claim your to be forgotten. Best yet is on the chain. On the chain. Be forgotten. Badass yet is on.
- [73:29]
Jeff
On the chain. On the chain. Do we have the. Do we have the drawing?
- [73:36]
Chip
It's beautiful. Put it. Putting it up right now. All right. There we go. Who's going to win? Who's going to be. Who's it going to be? Jim D winner today. Jim D.
- [74:02]
Jeff
Jim.
- [74:06]
Chip
Yeah. Get your z wallet. Rete re.
- [74:13]
Jeff
Is Jim D here?
- [74:14]
Chip
Yes, here. Unless he bailed. How he's been here.
- [74:18]
Jeff
Oh, my God.
- [74:21]
Chip
Baby. Jim d the winner. A big winner.
- [74:26]
Jeff
He's so the.
- [74:27]
Chip
Yes. High, dude. Beautiful. Jim D got it, baby. Jim D already posted it. I'm not messing around, dude. Jim D ain't playing.
- [74:41]
Jeff
That one was rigged, Chip. It was rigged.
- [74:44]
Chip
Jim D. Grimner, congrats. Jimmy crack corn and I don't care. This is. You see the whole. You see how model textbook this is. Jim D has his almond wallet ready. Has his handle ready. This is how you do it, man. This. Let this be a. Let this be the. The. The bar that be surpassed. You can get it faster, but you can't do better than this. Didn't even ask for it. Jim d's all over it.
- [75:11]
Jeff
He was like, boom, boom, boom.
- [75:12]
Chip
Quality of the handle. Jeff's waiting to send it. Jeff. He's already. He's already on top of it. I love this.
- [75:21]
Jeff
Look at that. That's awesome.
- [75:23]
Chip
That's my performance right there.
- [75:24]
Jeff
That's. And then here we now. Here we go. This bad boy is coming your way in 5, 4, 3, 2, 1. Boom. There you go. Submitted successfully. You now own that badass yeti of the frost beards.
- [75:43]
Chip
Definitely rig says Ray run. Definitely. It's been a long time. Thanks. Well, you keep playing, man. You're going to win. Didn't want your stupid yeti anyways. Yigged. I like yig better. It's a yeti rigged. It's yigged. That's even. Yig is the new. Is the new rigged. The yeti rigged. I love it. I don't know if that was a typo or you Meant to do that. Jimmy. Jimmy rigged. There you go. Jimmy. Jim D. Rigged following. Yeah, I'll go follow him too. There you go. So you want to go follow each other. Always want to follow each other. Jim D. Jimmy crack corn and I don't care. I never cared the Jimmy crack corn. I had zero and zero steak and Jimmy cracking corn. No, nobody cared.
- [76:28]
Jeff
Nobody cared.
- [76:30]
Chip
It's not rugged. It's yugged and yigged. Pointing some new phrases here. Congrats. Says Nick Buffalaria. Nice. You gotta like that. Mark will be well everyone please donate the fire aid. No, don't donate the fire rate. What are you talking about? That's not how Thomas Brennan says we need Trump to do an Andrew Jackson. Where Jackson? Absolutely. Well, who do you think is pitcher's hanging in the Oval Office. Andrew Jackson who canceled the second bank, the central bank. Andrew Jackson. But that was a 20 year charter that he let run out a lot easier. That's why when they rolled out this incarnation of the bank, why would we pay a third party that we'd have to pay interest to for our. Where's our sovereign currency? It's the dumbest thing, you know, Rand Paul or what's Ron Paul? When Ron Paul was talking about auditing the Fed, people looked at him like he had two heads. He was like making so much sense. We have to audit the Fed. We have. We. We have to audit the Fed. He was going crazy and absolutely 100% man. Grimmer Jim Grimmer Jim. Jim D. Has enough to form his own congress. You see that Jim D. They're all over you, man. Local Florida people should have been XRP celebration party at the breakers when it happens. We could do that too. Chips. Chuck Manzioni. Pass. Yeah, I remember that feels. Yeah, his. The feels so good. Yeah. I'll be honest with you. I don't want that song in my head ever again. I had to deal with it through childhood. I was not a big. I was a bigger Herb Albert fan than I was Chuck Mangione. But I was like does is. I tried to find one photo of. Of Chuck Bangione without the hat and without the beard. And he was a good looking dude. Jeff. He was a good looking guy. I was like, well, I don't. I don't understand why he had that weird hair. Like my weird hair. No, the weird hat. You always wore the hat and the beard. He was a good looking dude. I was like, if I can find a Chuck Mangione without hat hat beard. Let's see if we can. If I can Pull this up. Because I was like, dude, you know, I could see if you're not a good looking dude. Of course, course you'd wanna. But I did pull up this one picture. I was like, because if you look through it, he's always got the hat, he's got the beard. But there was one time in the 90s where he apparently shaved it off. And God, if I can't find it. There is a photo out there, man. There is one photo without the hat and beard. Here it is. Look at this. Here we go. Let's go ahead. You see how he took us down a rabbit hole? We're getting out of here and you see what happens? There it is. Look at this right here.
- [79:11]
Jeff
Let's see.
- [79:12]
Chip
There it is. That. I was like, you would never think that was Chuck Mangione. He's a good looking dude. He looks like a normal guy. He's like. You thought he was like. It's some kind of like weird things on his face or whatever. There he is. You know. But then you always. And you see all these other pictures. He always has the. You know, that's how we're. That's how we're used to seeing Chuck Mangione like that.
- [79:32]
Jeff
That's right.
- [79:33]
Chip
Of course, we've had so many celebs die. We had Malcolm Jamal Warner was Theo on the Cosby Show.
- [79:38]
Jeff
Just passed Hulk Hogan.
- [79:41]
Chip
The Hulkster. That, that, that's. That speech he gave at the RNC was just epic, man. And, you know, I had a chance to meet him in San Francisco. I'll probably tell that story sometime. But it was a very. Just a humble man. Really nice dude. Great to meet you, brother. Yeah, great. Yeah, brother. He was a good dude. I met him in the San Francisco bar. Someone pointed out, I think that's Hulk. I went up to him, started chat with him. Okay, The Hulkster's gone. Ozzy everything. So that's all we have, guys. Really appreciate you guys popping in. We'll see you guys tomorrow night. And yeah, badass. Grew up with them. Very cool. Very cool. Good dude. He was a good dude. He was amazing, man. He. I mean, that flugelhorn he played, whatever the hell that was. Just what a. What a set of pipes that guy had, man. What a good dude.
- [80:26]
Jeff
That's right. Look at this. DJ mighty said, hey, my wife got her crypto hacked. Can you recommend an attorney I can trust? I'm in Florida.
- [80:35]
Chip
I don't know who you go to do that. Is it on exchange? If it's on an exchange, then you Might be able to reach out to the exchange and see if they can help. There are. There's another org out there that I can't name. Escapes me right now, but does track crypto. That's. That's scam. They can trace it and they try to help out too, and I can't if anyone remembers in the chat who they are, but I always see them trying to help people recover crypto.
- [81:01]
Jeff
So if it was on Coinbase, then that's a good place to start. Like you said, reach out to the exchange. If it was that, that's a starting point.
- [81:11]
Chip
It could have been a fishing thing and, you know, it's so. Man, it's so sad to hear this, man. It really breaks my heart.
- [81:16]
Jeff
It's tough on ledger. Not on an exchange.
- [81:19]
Chip
Oh, yeah, I've heard of this thing happening too, on a ledger. Geez, man. Like they do with these fake updates and all this. Man, what a. Yeah.
- [81:28]
Jeff
Mike is saying James Rule has info on that.
- [81:31]
Chip
Yeah, reach out. Ping James Rule on that and who to reach out for that. He'll. He'll help you out.
- [81:37]
Jeff
Do we have James Rules X. X handle here?
- [81:41]
Chip
No, but just feel the type. James Rule. It's easy enough to get to all over there. It's all.
- [81:45]
Jeff
Make sure it's the right one. Yeah. See if I can pull something up real quick for him. But he went. Yeah, he had gone through some stuff.
- [81:57]
Chip
James, it's Rule XRP is what it is on. On X here is.
- [82:03]
Jeff
Yeah, it's just. Yeah, just Rule at Rule xrp. I'll put up. I'll grab his thing here.
- [82:09]
Chip
Drop it in there, Jeff.
- [82:11]
Jeff
Yeah, Here we go. Oh, you already got it. They tricked her to give up the private keys. What in the world?
- [82:21]
Chip
Never give up your private keys, guys, to anybody, for any.
- [82:26]
Jeff
And they could be international. That could be, you know, real challenging. Yep.
- [82:30]
Chip
Yeah. I'll say it again. No one's asking you for private keys. No one in tech support's asking for it. If they do, it's a red flag. You never give up your private keys to any. Anybody. Don't give them to anybody that asks you. Someone that wants to borrow them. Yeah, there was somebody that did do forensics. You're right. I don't remember who it was. But reach out to James more.
- [82:50]
Jeff
Yeah, yeah, there's going to be more and more of that stuff going on, and then that means there'll be more companies popping up as this becomes more mainstream. Which is another reason why, you know, most people don't want to have to worry about, you know, managing this stuff.
- [83:08]
Chip
Yeah, exactly.
- [83:09]
Jeff
And everybody, everyone can get caught up in it, though. It's not, you know, very, very astute. You know, people that are in, on the tech side have gotten caught up in this stuff. You just never know. There's so many different types of scams out there. So many things happening, you know, I mean, you just have to be ultra, ultra aware to never even click a link. And that's one of the reasons there are a couple of the exchanges that were sending links to click into your email. They're like, well, we're gonna forward you a. An email with a link that you have to click. I don't want. Don't send me a link in my email to click. I'm not logging in to your website from my email.
- [83:47]
Chip
I don't care who sends you an email, what exchange. Delete them all if it's something important. If there's a message there, go log in and then see. Never click any links. They're. Most of them are spooked.
- [83:58]
Jeff
So tough.
- [83:59]
Chip
Hey, so and so, did you reset your password? You got a text. Did you reset your password? Delete and Marcus spin spam. Every single one of them. Don't read it, don't look at it. Get rid of it. If there's a problem, you can log in and see the problem. Then you can reach out through the exchange. If you have an exchange or if it's a ledger, reach out to ledger. Don't fall for these scams. That's all the time we got. We gotta go, guys. I gotta get out of here. I gotta someone to go with my wife here.
- [84:24]
Jeff
Let's go. We're out.
- [84:25]
Chip
Appreciate you guys. Appreciate you guys all being here. We'll see you guys tomorrow. Chip and Jeff out.
- [84:32]
Jeff
Are you down with otc?
- [84:35]
Chip
Please, like subscribe and click the bell.
- [84:38]
Jeff
To be notified when the next video drops.