AGGRESSIVELY AVERAGE APPAREL:
SIGN UP FOR A FREE 7 DAY TRIALGET YOUR .CRYPTO DOMAIN AT UNSTOPPABLE DOMAINS
TRADE CRYPTO ON BINANCE HERE "LOW FEES"
THE BULL’S MENTORSHIP PROGRAM:
UDEMY Altcoin Ratings & Reviews Course:
Twitter:
Instagram:
TikTok:
OnlyFans:
????I DO NOT SOLICIT MONEY FROM ANYONE IN DMS ON INSTAGRAM (DO NOT SEND YOUR CRYPTO TO ANYONE AS THEY ARE IMPERSONATING ME) ????
*I DO NOT COMMENT IN COMMENT SECTIONS…. IF YOU SEE A COMMENT WITH MY NAME, IT IS AN IMPERSONATOR!!! DO NOT CLICK ON LINKS!!!!! THEY ARE SCAMS!!!!*
*I AM NOT A FINANCIAL ADVISOR/ADVISER & THIS IS NOT FINANCIAL ADVICE*
Ladies and gentlemen today's video is Going to be one where rarely I don't Have to speak Much I'm going to let Brad garlinghouse The Ripple CEO do all the talking Because quite frankly he is on a Victory Lap and once you hear the full speech Brad garlinghouse did at DC fintech week You're going to exude extreme confidence As a ripple xrp investor and if you have Not gotten any xrp already or have Doubted Ripple in any capacity at All this spee might just change your Mind it was a powerful Message Brad Garling house is at DC Fintech week while Monica long and the Rest of Ripple is at Swell divide and Conquer we've already won for you uh Very short this time but but it's always Good to be back in Washington you're Going to have to spend any time at the SEC while you're here this time maybe a Photo op no I'm Kidding no uh no no planned visits to The SEC but why would welcome that I Mean honestly I think an open dialogue Between industry and the SEC would be a Step forward from where we are now well Of course what we're all referring to And I think everyone in this room pretty Much knows what I'm talking about is the SDC case which a judge ruled in your Favor round xrp and whether or not it
Was improperly issued as a security are We calling that done and dusted or are You bracing yourself for some kind of Remedy or appeal process well look I Think the SEC clearly lost on everything That matters uh there is a remedy Process which continues forward there's The unknown and I know chair gendler is On stage later you should ask him if They're going to appeal uh that would be Great look I I that's not a knowable Thing uh I from my point of view they Lost on the things they care most about But by the same token if they move the It up the appet ladder it becomes more Amplified as a decision of consequence And so it'll be interesting it's a I Think there's a strategic trade-off I'm Sure there's way more lawyers in this Room than uh I'm comfortable you know That you guys know more about it than I Do but uh I I think it's to be Determined whether not I choose to Appeal I think regardless of whether They appeal I feel really good about it I think it's very clear the SEC now has Lo they lost three times with ripple They lost uh I know the CEO of grayscale Is on you know they lost the grayscale Case and by the these are federal judges Saying things I I'll quote grayscale the Judge said that the SEC was being Arbitrary and Capricious I mean this is damning
Language from a federal judge like you Know I also happen to believe as long as I'm on a role here look at some point When you have the same you keep trying To do the same thing and you keep having The same outcome at some point you Change your approach what I hope it Would be magical if chair gendler got up Here and said hey we're going to change Our approach we have lost time and time And time again so let's re let's step Back apparently we haven't had it right Because the judicial branch is saying we Keep getting it wrong and so like it Would be great to have that constructive Dialogue I would be happy to go to the SEC today actually today would be tough But yeah I know you have he has to get On a flight to Dubai in a couple of Hours so we'll pass the message along to Chair Gensler when he arrives I would Come back from by here to meet with Cher Gendler okay on the record he says this So you mentioned that there was a win in The Ripple case and in the grayscale Case or a loss on the other hand for the SEC but of course those aren't the only High-profile cases the SEC is currently Pursuing they've brought cases against Binance against coinbase does the Ripple Case teach us anything about what might Happen in those cases how do you view The debate around xrp in the context of Those
Cases look I followed the coinbase case A little more closely uh and so maybe Like I can comment there a little bit More I look I I think that the the Challenge has been and again even if you Read what the or listen to what the Judge has said in some of the early Coinbase uh procedural stuff you know The SEC is not trending well there and Again if at some point you would think If you keep getting losses you would say Okay wait a minute let's step back let's Reevaluate or even better let's be part Of championing a legislative solution Let's not go to Congress and testify and Say the laws are clear the laws clearly Uh could be much clearer at a minimum And you know I think what we seeing in The coinbase case that the world is not Just a simple Howe test and we have seen Some momentum around legislative Solutions obviously uh washing it's hard To get things passed in Washington uh in Some ways that's a good thing in some Ways that's bad but uh I'm hopeful that In 2024 we do see some legislative Momentum that actually does provide that Clarity and it would be a magical thing If the SEC were part of that working Constructively with the industry to find That right path well you say you're Hopeful that something happens Legislatively but ultimately the way Things are going right now do you think
More clarity is likely to come from Congress or is it just going to continue To come from the courts and the judicial Branch I think that's a question for CH Denler I mean right now he has taken Approach of your regulation through Enforcement that is not a in my judgment Constructive way to regulate look I one Of the things is most frustrating about This I mean Ripple spent well over $150 Million defending that case there is no Recourse so you know the the the case Was brought by Bill Henman and Jay Clayton Bill Henman and Jay Clayton let I mean Jay Clayton left office the next Day Right like you know it just feels a Little bit like this wasn't uh this was Not an there's just no recourse to the SEC there's no negative outcome for Anyone and I think it's really really Confusing to me when you know Bill Hinman got up to the world in 2018 and Said eth is not a security and you know Now we know from the litigation with Ripple that the the sec's general Council even said this is going to make Things less clear this isn't following The hoe test so you know it just it Feels a little bit and I think there Should be you know some call to Accountability uh and even an Investigative work like how do like why Why would we take an approach of putting
Ripple on the defense if we got to spend $150 million to show that the law Actually doesn't say what they're saying And then in another case say okay we Think this one's clear like the Government should not be picking winners And losers so as we talk about this Litigation do you think if there is an Appeal in your case or in in one of the Other cases we've talked about that Ultimately this ends up with the Supreme Court that this goes all the way to the Top I think that definitely could happen I Mean certainly and we've said this Publicly we are in it till the end so You'd take it to scottus 100% by the way I again there's a lot of lawyers in this Room that is a good thing I mean the Current Supreme Court I uh I would we'd Love to see the Vegas odds on how that Would go they haven't been super Friendly to Regulators I think friendly To Regulators no and so it look and that Goes back to my earlier point I don't Know if the SEC will choose to appeal This decision If they do I think it it risks to them Amplifying you know something that They're not yet saying uh I I think it'd Be more constructive for the SEC and Even the industry just to say look okay Let's step back let's Reevaluate as you know I'm going from
Here to Dubai other Regulators around The world like we we have been in this Dialogue I've been talking to other Regulators around the world for years And there's an open dialogue there's a Constructive dialogue the US used to be Looked at as a leader from Securities Regulation and protecting Consumers I think it's become a Political liability the the way the SEC Has approached this in the United States We are looked at here in the US relative To other countries as stuck you know Just we are not leading and even worse It's just kind of looked at the other Countries are absolutely leading the UK I mean I happen to be going to the U Later today but uh I could name five or Six countries Japan even Australia uh Switzerland Singapore I mean these are All countries that are leading and by Virtue of that you're seeing capital Investment you're seeing entrepreneurers Set up shop in those countries because The rules are clear I want to come back To that rest of the world versus the US Point but just to clarify something Quickly because you just said you'll Take it to the Supreme Court if you have To you will ride this out fight it in The court until it is done if the SEC Appeals there's no chance that you would End up settling in some way well that's A slightly different question I mean
Look uh I I we've talked a little about this Publicly now I was offered the ability To settle prior to to you know they Didn't just Su Ripple they sued me yes And they Sued that has all been uh all dropped With prejudice and so you know look that Feels really good asterisk it feels like How did we end up here like what you Sued me as if it was clear I had to Knowingly sell know that xrp is a Security and act recklessly to not know Again people here in the law know more About this than I do but like there was No chance they were going to win that And pushing it the way they did it just Feels like the SEC should be part of the Solution other countries it's no problem And you joke I mean I think you were Joking to my meeting with the SEC today In another country that wouldn't I I've Met with central banks I've met with uh You name the regulator and it's kind of Like yeah no problem open meeting open Dialogue we talk about Ripple's doing we Talk about our view on the crypto crypto Industry no problem here in the US it's Like you know it's like oh the laws are Clear but yet we can't answer is Etha Security yeah that's something that the Chairman has still not actually uh Expressed opin today but ask him again Today maybe I'll find him behind the
Curtain somewhere I'll let you know um Okay so let's go back to the US the rest Of the world topic as you were just Discussing it there where do you think The best example is being set what Should the US be trying to replicate or Does the US just need to doing something Different but taking that regulat Regulatory approach differently I like I I partly because they're you know a Close economic and political partner to The US the United Kingdom the UK I think Has been very constructive on crypto and That uh you know get when I say that They're not you know again Cher gendler Likes to talk about crypto is the wild West it is absolutely not the wild west Uh you know Ripple is a regulated Company in many jurisdictions around the World uh you can the singap in Singapore We have our uh license from Mas as a Major payments provider uh in the UK we Have well in in Dubai we've applied for The virtual asset regulatory I can't Vara I can't remember what the a stands For but you know it's not the wild west And I think it's it's a Narrative to promote I guess a political Agenda as opposed to sound policy And uh you know I think there's still Time for the US to remain a key leader In this space and some of the most Important crypto companies in the world Are based here in the United States but
You know if you if Brian Armstrong were Up here today I I think he would say as Well you know does he wish you had gone Public in a different jurisdiction in The United States the SEC approved his S1 but then sued him for doing things They knew he was Doing how does that make sense okay so You just said you think there is still Time for the US to be a leader how much Time is still time like where in The Hourglass are we well I mean look I want To be realistic about this the United States is what 23% of global GDP the US gets us act together years From now probably it's such an important Economic actor that it it feels like That option always exists because where Of where the US stands in a global GDP Point of view and it is really the Finance capital of the world but there Are other Finance capitals of the world And certainly Dubai is you know trying To emerge even more so Singapore for Sure London for sure and not surprising Me you know I've said publicly 80% of Ripple's hiring this year will be Outside the United States and it's Partly why would I want to hire more and More people in the United States when The US is making it hostile for me to Operate here and even with the SEC case I mean we have US Banks as customers and You know I've talked to them post the
SEC case and I'd say you okay so great Now we can we have a product called On Demand liquidity which uses xrp and so I'll go to those Banks and say you know Should we engage on that topic they're Like look even though you won the case The United States government is still Hostile towards crypto the OCC is Hostile towards crypto and until that Changes the banks of the United States Are not going to engage meaningfully so I don't think the window has passed for The US to be a leader but I think uh Every day that goes by these other Markets that they want the entrepreneurs There they want growth uh and you know Again I'm mentioning Singapore London And Dubai as three key examples but I Mean the ripples London office is our Second largest office well that's a Really good point until your point of You're hiring a lot internationally These are long-term decisions you're Making these are long-term Investments So even if things were to get friendlier In the US would you all of a sudden Shift shift back here how are you Thinking about the longterm for Ripple well look I mean a majority of Our employees are still us-based I I Think think eventually if if you zoom Out far enough you know none of this Stuff barely existed 10 or 12 years ago Fair so if you zoom out far enough do I
Think 10 years from now the us is going To figure this out and have a Constructive regulatory framework for Crypto a Th% yeah so that's 10 years okay what About five I you know I don't know where I would go as we rewind but I remain a Long-term Optimist uh in I I was in Silicon Valley for about 25 years I Moved last a couple years ago but better Technologies almost always win in the End and I truly believe blockchain Technologies are a path to reducing Friction for financial transactions to The benefit of many Industries and the Irony and you and I were talking about This backstage a little bit for some Reason crypto has become a little bit of A partisan issue I when I first came to Washington and as Chris said I've been Coming here four or five years uh it was A totally bipartisan issue and for some Reason recently it's come a little bit Partisan towards Republicans being more Open and constructive saying okay let's Pass this legislation I the irony to me Around that is one of the core benefits Around crypto particularly around Payments are customers who are can least Afford the cost of remittances are Actually burdened the most so I'm Talking about uh immigrant populations Sending you know millions billions of Dollars into uh other countries and
They're paying you know the World Bank Would say 600 to 700 basis points that's Outrageous You Know It uh again so for For me it's surprising that it is not uh More bipartisan and that we would have Seen kind of something pass already uh But again I think there's still hope and I think now that we have a speaker the House maybe will make progress maybe They have to figure out you know how to Fund the government in the next nine Days uh as well so they have quite a lot That they're dealing with but to your Point if it doesn't happen this congress With this lead of that the house Financial Services committee obviously They've passed a few bills uh out of Committee stable coin legislation a Market structure bill as well if they Can't get it done before the next Election what does that mean I I I I I Don't really know what I mean by that is I I don't know that the uh the Presidential politics I haven't heard Either of you Biden or Trump really Speak about this I mean I think Trump Once tweeted about Bitcoin or something Years ago you a true social it now yeah That's right sorry yes uh but so I I Don't I don't really have an opinion on That I I view this as a bipartisan issue It's good for the United States to have Constructive engagement with next Generational exponential technologies
That truly can have dramatically Positive impacts on our economy to the Benefit of citizens and you know the us If you go back in the history books you Know the fact that the US passed clear Legisla legislative Solutions around the Internet in the late 90s allowed massive Amounts of capital and entrepreneurs you Think about that like I think we're Hosted by AWS here the largest most Important internet companies are based In the United States the the Geopolitical benefit to the United States not just economic has been Massive because we created the right Environment for entrepreneurs and Capital to flow into a next generational Technology framework blockchain is is a Next generational technology framework It is going to touch many many Industries I would agree with people say Well right now there's too much Speculation I agree we need more clear Constructive uses of these Technologies To solve industry problems but you're Seeing more and more companies doing That and you're seeing more and more Traction the United States should get Behind that we want these Technologies To emanate here we want to be to have That and for whatever reasons you know I Think the SEC is part of the problem There you know we have uh been hostile What you hear and you talk about how
This is becoming somewhat of a partisan Issue I've spoken with a lot of Democratic lawmakers crypto Skeptics About this and they cite fraud often That a lot of people are defrauded Through crypto scams also things Questioning whether or not blockchain Ultimately really does anything new that Can't be done already that it's just Trying to recreate something for no good Reason and potentially bad things come With it how much more work needs to be Done to push back against that kind of Narrative well I mean the fraud point You know and you and I talked a little About this backstage you know uh the FTX Fraud wasn't a crypto fraud I mean yes It was it was a it was a Fraud uh I I don't know like it Absolutely it wasn't unique that this Happened to crypto uh there's other Frauds that in some cases were even a Bigger scale than uh what happened there So I when I I hear people say well we Need legislative Solutions around uh to Prevent FTX it's like well maybe if Gary Gendler and the SEC weren't so focused On going after Ripple and meeting openly With Sam bankman freed maybe we could Have actually avoided some of that right Uh I I don't I don't know I mean you Know gendler won't comment on his Meetings he had with SBF so I don't Really know what that's all about but it
Strikes me those aren't the laws we need To clarify fraud laws are there and There's many jurisdictions you have uh Chair benam from the cftc there's fraud I mean there's lots of ways you can Address that and obviously Sam B freed I Think is probably going to go to jail I Know the sentencing hasn't happened yeah Uh but guilty on all seven counts Correct so I I don't think that's the Core of the problem I I think but the Other part of your problem like people Who say there's not enough real Utility I mean look I kind of agree with That there's a lot of excitement and There should be but that also was true In the earliest days of the internet There are lot there's a birth just an Explosion of entrepreneurial activity That did result in the dotc bust but Then you still have emerged from that Google and Amazon and fate meta you know Like uh there's no doubt in my mind These Technologies because they actually Can be used to rewire how transactions Happen there's immense friction in how Crosswater payments happen where Ripple's focused but there's immense Friction in real estate in bond Settlement there's ways to use these use These te techologies and by the way I Use those examples those aren't things Ripple's doing but just it's more Advocating for the industry at large
Well let's talk about Ripple though and The utility there what's institutional Adoption looking like outside the United States it's been great I mean look we I'm sensing a theme Here I I was it was a dark time when Ripple got sued To December 22nd 2020 q1 of 2021 you Know we didn't know it was going to Happen uh outside of the United States Regulators are like we don't understand What the SEC is doing and we continue I Mean 2021 and 2022 is some of our best Years ever grow and the primary measure We use to measure Growth tens of millions to hundreds of Millions to billions of dollars of Transactions at a time when we're in the Middle of this massive lawsuit with the SEC so uh other countries again have Engaged constructively they see how These Technologies can be used to Improve payment flows they see how Crossborder settlement works today it's Slow it's expensive I mean actually the The uh head of the Italian Central Bank I'm forgetting his name right now he Just wrote an opinion piece in the Financial times about how broken Crosswater payments are it's 2023 and you know uh these are Technologies that actually the US is is Trying to Stymy it doesn't make sense so I know
You always would rather focus on xrp Utility rather than speculation but do You have a thought on I believe it's Been bit up 30% in the last month uh Crypto overall has been up Bitcoin hit a Low of I think 16 or 17,000 now it's I Think at 35,000 xrp definitely has been On a rally I you know look if if I had a Magical window into what drives crypto Prices I probably would quit this job And just go do that uh so you know look I I take a very long view the big Picture around these Technologies and And by I'm very a multi-chain Viewpoint Like yes xrp is extremely good at some Use cases and payments is clearly one But I think there are lots of other uh Blockchains that can be used for other Purposes that it's not going to be one You know kind of one winner to take it All I'm already bracing myself for when I go check Twitter after this to see Everything the xrp Army had to say about This conversation there is a passionate Advocate Group and you could say that Yes look I I I think that is a good Thing there's obviously a very Passionate Advocate Group around Bitcoin I I will say and I I say this to anyone Who will listen like the ideolog and the Kind of uh the maximalism that happens In crypto I think is counterproductive To crypto and when I see people Advocating of like it's all Bitcoin or
It's all xrp or something I'm just like No it's not and I I think we all have to Come together and frankly one of the Silver Linings of the Ripple case with The SEC has been the industry realizing Like this was important for the industry Yes it was great for ripple and frankly It was nice for Brad Garling house to Have the case dropped But it's important for the industry and The grayscale decision I think it's Incredibly important for the whole Industry to come together and agree on Things here in Washington to to catalyze That legislative solution that we Haven't yet seen all right we're going To have to leave it on that note Brad Garling how the CEO of Ripple thank you So much and with that I have some words To say we are going to turn to a another Atory conversation focused on a very Different angle and that would be from The cftc so for that I'd like to welcome Chris back to the stage he's going to be Joined by the cftc chair Ross Benham
