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I am not a licensed financial advisor. All videos on this channel are intended for entertainment purposes only. You should not buy, sell, or invest in any asset based on what I say in these videos. You should know that investing carries extreme risks. You could lose your entire investment. This is not trading advice and I am in no way liable for any losses incurred.
[Music] Ignition sequence starts six five four Three two one zero liftoff we have a Liftoff [Music] Hey everybody this is the digital asset Investor and I woke up this morning and I was literally flooded with all kinds Of stuff that I need to show you today We're going to start here this is the BlackRock CEO in Davos talking about Tokenization of stocks I believe the Next Generation for markets the Next Generation for Securities will be will Be tokenization of securities Um we will and if we can have that Distributed Ledger that we know every Beneficial owner every beneficial seller We all have our our code of who's buying Who's selling instantaneous settlements That sounds like Atomic settlement Do you remember when Jack McDonald from Poly-san was talking about Atomic Settlement you know what else he does Over there at poly-san he does custody Of digital assets and think about it Changes the whole ecosystem you don't Eat Trust Banks does that disrupt you Eventually because you are custodian all This we don't know we're not a custodian We're not that we don't We use third-party custodians in Everything we do ooh in everything we're Not a custodian bank so you're so your
Goal in that by the way I don't think he Was technically a custodian either which Is a separate issue I think they were I don't know if there Was a real custodian in that closed Ledger but that's a whole other story uh You should ask them that question Uh you know who uh is one of the major Custodians bny Mellon one of the biggest Custodians in the world just so happens That the same guys went to help create Poly-sign Uh no I I mean the transformation think About instantaneous settlement bonds and Stocks Um No middlemen we're going to bring down Fees even more dramatically As for me I don't have to vote on any Shares anymore because a beneficial Owner will do all the voting yep so Remember back a couple of years ago when We were covering I was just talking About the polysun website it used to say On their website that they had built it To scale to the trillions well why would You need to scale to the trillions not One trillion like the crypto Market was But to the trillions well you would need To do that so that you can have so that You can custody a tokenized world that's Why you need to do that Um polysun private equity which I own a Bunch of happens to be still there's
Still some of it on the link to platform Who is one of my sponsors linked to the Links in the top of the description Click on it tell them da I sent you now Yesterday I saw this Bank warning it was Yesterday wasn't it let me look at the Date here Date yeah so yesterday banking warning Something is seriously messed up at bank At Bank of America today no Zell Transactions are being received Additionally if you call B of A customer Service you will receive a recorded Message saying due to extenuating Circumstances we cannot complete your Call then this video is going around the Look folks this might just be some Glitch that Bank of America had that's Fine but I still want to show it to you And make a point So I'm a Bank of America and everybody's Missing money I'm also missing money Over thirteen hundred dollars and They're telling me to call customer Service and they keep hanging up on People it's another question here he's Also made some money so we're trying to See what's going on money's missing Today and we ain't got money and they're Only telling us to call customer service And customer service ain't doing nothing About it so just a heads up it's Anybody's experiencing this please let Us know because this is not right I'm
Missing 1400 for my account and they're Telling me that there is no way they can Help us this guy's missing money too This other person is missing money too And it's you miss the money too there You go so this is not something that's Just one person this is everybody's Happening to them and this is crazy this Is very crazy yes Bank of America Decided to take people's money without Their consent and we're asking what's Going on are they giving us run around Okay now this may have just been some Local thing this may have been just some Kind of flash in the pan I don't know But I do want to make a point out of it Because we keep on and I'll cover this That's probably in the next video some But one thing these people at the world Economic Forum keep talking about is Cyber tax like they're imminent and all This and that is that gives me the Creeps because I remember and I'll show You this in the next video just to Refresh your mind the Jim Rickards video About what he called um ice nine about How they have a plan to shut down the Banks we I've told you before that in Their in their documentation they have Put in bail-ins so they don't have to go Kneel to some nut case like Nancy Pelosi To get a bail out next time that's the Lesson that these bureaucrats and Politicians learned from the financial
Crisis so they wrote bail-ins in Cyprus Was a test run back in 2013 and it's Important that you understand what Happened when they they literally in Cypress shut down the bank accounts and Shaved off a portion of those depositors Deposits okay now when that happened What happened to crypto Bitcoin surged Okay my point for you and me is that We're all sitting out here we might have A bifrost wallet or you might have a sum Wallet or you might have a ledger Nano Us who is one of my sponsors and links In the top of the description I I use All of the above okay well when when They when people lose their access I Mean this is how I'm preparing I can't Tell you how I'm not a financial advisor But what the way I'm preparing is that I'm having I've got a diversified set of Wallets that are in my control I'm Making sure I have physical cash making Sure I have physical gold I talk to you About my Glenn account part of the Reason I have the Glenn accounts because It's a non-bank account and I can have Gold that I buy in there and I can spend That gold with my um so I'm just Protecting this is how I'm protecting Myself you gotta do talk to your Financial advisor about how to protect Yourself the link to these ledgers is in The top of the description there's they Just came out with these Ledger stacks
And they're going to ship in April but You can also buy the The Ledger Nano X And all that in the meantime if you want To go ahead and while you're waiting all Right Brad garlinghouse did a far side Chat I clipped out what I found to be The most interesting parts of his Fireside chat we're now processing Billions of dollars of transactions Every quarter uh and you know well over Half of our total transaction volume Because we do have a Fiat and xrp Enabled product called on-demand Liquidity over half of all of our Transactions go through xrp now that has Grown and so you know we did have some Exposure to FTX I think I think we've Publicly shared before that's right just Over 10 million dollars of xrp we had Least two uh I had not heard that until This interview so they used for various Things on FTX You know what we get back from that I Have no idea the the alleged fraud uh Yeah we'll see how the bankruptcy stuff Plays out and as I said you know Regardless of that again some companies Were way Overexposed and found Themselves in a very stressful situation Because they had too much exposure too Much debt uh too many of those types of Things and for us you know that I think Represented about one percent of liquid Assets so you know it's kind of it's I
Mean I would rather not lose that money And I'm hopeful that through the Bankruptcy process we get some or all of It back but uh it's not too Consequential to the business well we Publicly when the kind of layoffs and Crypto started we publicly announced We're still hiring I think in Q2 last Year we hired 100 people in Q3 we hired 100 people Q4 is a little less than that Probably because the holidays Uh we're going to continue to grow and Higher and again that's just so we sign More customers we need more people to Support those customers we need uh we're Obviously building well not obviously We're building new products that we're Excited about and even in the Conversations I've had here in Davos you Know we have existing customers coming To us wanting help with other elements Of the kind of crypto ecosystem how are You expecting to be resolved are you Expecting to reach a settlement with the SEC or just let the judge decide on this One so you know as I mentioned earlier We're now two years and two months in Their two years and one month into the Lawsuit uh SEC filed suit against us Saying there are sales of xrp Represented sales of unregistered Securities and you know from the Beginning I thought it was very clear That the facts were on our side and the
Law was on our side and I think as you Have seen this play out and you've seen The filings in the court that you know The judge certainly is hearing our Arguments uh there's been I think the Sec's behavior and some of it has been Uh I don't know I I would say Embarrassing as a U.S citizen that you Know there's some of the things you've Seen happen you're like you've got to be Kidding uh but look it's now fully filed And fully briefed uh in front of the Judge and the second district and we Expect a decision from the judge Certainly in 2023 uh but you don't Really have any control over when a Judge makes their decisions and I'm Optimistic that you know sometime in the Coming single digit number of months We'll we'll have closer there so your Question around settlement I mean the Problem here is the SEC and sugar Gary Gensler has articulated a view that all Crypto is a security The only way that Ripple would settle And I've I've said this at the very Beginning the only way we would settle Is if there's Clarity that xrp is not a Security on a go forward basis If we if there's I mean so you have this Conundrum where the SEC is saying all Cryptos of security were saying there's Only a settlement if we can say xrp is Not a security and go forward basis so
That the Venn diagram for settlement is I think zero so I think we're going to End up letting the judge decide and I'm Very optimistic and I think and I think People here in this audience know and Here Davos know this case is very Important to crypto not just for ripple It's for for the whole industry and I Think that the fight that we've been Fighting really in some ways has been For the whole industry and and in terms Of the SEC specifically we're critical Of the way the U.S has approached Regulation towards the industry what Exactly you know are you concerned about And why are you critical of the way the US is approached well I mean two things One you know something called regulation Through enforcement is never a Particularly efficient way to regulate Right if you want to regulate do the Work write the rules codify the rules And you know when when a company comes To you and says hey help me understand The rules I make sure we're following The rules help them understand the rules You know I met personally with the SEC Three times not once in those meetings Did the SEC ever say to me hey we're Totally transparent about what we're Doing not once did the SEC say hey we Think xrp might be a security so then For the later on to go back and say hey The whole time we thought xrp was a
Security we just didn't tell you That doesn't feel like a a genuine uh You know partnership between Public Schools Some of this stuff will be more uh vague About because some of this stuff it Hasn't been public yet but yeah there's Something called the Hinman email Bill Hinman the director of corporate finance At the SEC gave a speech in June 2018 About how eth had been a security but Had magically become not a security and Uh there's some emails associated with That that the judge ordered turned over Six times we finally did get those Emails and I think When those come to light I think you Will see more kind of like how is it Possible the SEC decided to bring a case Against Ripple given what they were Saying within their own walls yeah and And then if you look at the global Regulatory landscape where do you think Is sort of on the right track in the European Union you've got this Mika Regulation coming in which sort of Specifically targets things like stable Coins and exchanges is that a good first Step I mean where where do you see good Regulational I would talk about Regulation happening so I think Mika is A good first step and also maybe uh not Dodging your question I'll get there but I think one of the things that I have
Been struck by is how much the U.S Regulatory discussion has dominated and Some of the meetings I've been in here In Davos and it loses sight of the fact That globally the direction of travel on Crypto regulation is actually quite Positive you have more and more Countries doing the work to codify and Be clear and these are countries these Aren't you know small countries you know This includes the UK and Japan uh Certainly here in Switzerland Singapore The UAE uh you're even seeing countries Like South Africa start to do that work And again instead of you know Enforcement through sorry regulation Through enforcement it's actually hey Let's let's take the time let's partner With private sector to write down and be Clear about those rules so leaving the U.S aside I think uh it's actually quite Positive and yeah yes the US is the Largest economy in the world but there's A big economy out there and again Ripple Has thrived over the last two years and We basically haven't been able to sell Into the United States market so that's Why you've seen a lot of Attraction Outside of the US so far in the business Right right Great Clip and then we have Uh John Deaton weighing in he says nine Days after the SEC filed the case Against Ripple alleging xrp itself was Is and always will be a security that's
The complaint and summary judgment claim I read a I filed a riddleman Davis Versus the SEC and said the lawsuit Appeared to be used as a weapon Um so here so so John is pointing out That that and and see this is the reason All this talk is the reason that I'm Convinced that that rip that this judge Has to for xrv going forward this is the Reason I think Brad's so confident xrp Going forward you can't say that the Aren't this is not how the Howie test Works you can't say that the orange the Some future oranges the oranges Themselves are a security going forward You can't say that it now the only way The judge says that is if the judge Either does not understand Howie or I don't even want to go there but or has Been influenced otherwise but because The Howie test doesn't say that the Judge knows that that's the reason these Guys are so confident you can't say that The the SEC literally says in the Lawsuit that the orange there's in Essence saying that the oranges Themselves are securities they know That's not true the judge knows that's Not true Ripple knows it's not true and John Deaton knows it's not true well if That's not true Ripple has to win that Portion of this lawsuit which means that You can't say xrp going forward no Matter what how you do it to security
Now you the judge could say here's how It won't be a security if it's sold Going forward that's what I think is Going to be done so anyway that's the The point of that now uh Brooks in Twistle from Ripple was also in Davos He's a sharp guy we're building outside The U.S very rapidly given the Opportunities we see but we're not going To go kind of off-piste and try to chase Shiny things this year it's no rumored Time for that with this kind of Environment in terms of you mentioned Cbdc's is on your radar in what regard How are you helping out with that Absolutely we have an interesting Approach we're trying to we realize We're not going to solve that problem For every single Central Bank around the World we're very targeted we found great Interest in some of the smaller central Banks around the world that are looking For a strategy looking for a partner Looking for a technology a side Blockchain ideas about how to go about This so we had our first mlu sign with The kingdom of Bhutan in why neck of the Woods back in Asia Palau is an example But we're in conversations with dozens Of central banks around the world trying To figure out the best way to help them Across this goal they want to use xrp or Ripple Labs or to develop it they want To use technologies that will help them
Help their own citizens and so we don't Believe there's any one solution for all These central banks in this technology Across the world there's places we can Play there may be a side chain to The Xrp Ledger we may help the Interoperability across this but it's Going to be different at every single Central Bank like to always remind Everybody the way I heard David Schwartz Describe this because this is where People always go they're doing it on a Private Ledger well David Schwartz Presented that as being like a starting Point so in other words I've always Imagined you've got these private Ledgers let's say you've got Bhutan and They've got their their cbdc that's Built on an xrp private Ledger and it's Walled Garden and then over here you You've got let's say let's say you had Australian they had their own cbdc That's had a private Ledger built on xrp When those walls come down they can go Through xrp to go to the next country And then they go back into the Walled Garden At that other country And the wall goes back up and and so on And so that is what you call a bridge Currency folks and that Is the way I've always pictured this Thing I can't remember which Conversation David Schwartz said that in
But that's how I've always thought about This thing when when they started Talking about these these cbdcs built on A private Ledger I'm the digital asset Investor I'm not an investment advisor This is for entertainment purposes only Please Subscribe hit the like button and Tell your friends and family that if it Would be if xrp would be a bridge in That scenario people have to Buy it sell it borrow it in that Scenario thank You [Music] [Music]
