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Welcome back to the show everybody check Out these headlines cftc chairman says Eth Security oh boy we got that and so much More somebody roll that beautiful Intro digital perspectives with Brad KES Come on In welcome back to the show you can find Follow us on Twitter and YouTube for Exclusive content right now it is $ 2.64 Trillion market cap for crypto the Market is up 2% in the last 24 66,800 Plus for Bitcoin 3700 Plus for ethereum And 100 plus uh billion dollar market Cap for tether right now and xrp at the Number seven spot back at 62 cents and Up 2.9 on the 24 and up 3% on the 7 day Let's look at the range of price because We know we had a huge back test Yesterday to 59 and we see we're sitting Right now towards the upper side of that Range between 59 and 62 cents we will Keep an eye on it I do want to tell Everybody right now if you do not know This well you're going to want to know It we know link 2 has the best private Equity in the world and today starting At 8 8 a.m. Pacific time you have 24 Hours of circle and special tier pricing So make sure you get that while it's Available the next 24 hours starting 8: A.m. PST time you can get Circle and Tier pricing so do not mess around You're going to want to get a hold of
That also remember there's a limited Amount of Ripple right now you're going To want to get it you know you're going To want to get that too don't fool Around ladies and gentlemen the circle Is amazing I tell you I have been Tickled to death with what I've gotten And I plan to get more and if you beat Me to it I won't be mad with anybody but Myself because I would do it to Everybody else no get it while it's Ladies and gentlemen click the link to Link to underneath of the video and then Look at this uh this is pro crypto Lawyer mul suing Nydfs over ripples xrp removal from the Green list oh you know who this is oh Yes we have him on the show often it is James metala man Murphy that's right and He submitted the foyers because he wants To find out why the Nydfs after judge Torres ruled that s RP In and of itself is not a security the Nydfs still removed it from the green List well let me tell you something if You haven't learned anything about James Metal law man Murphy you better know This he's going to see this one through And land the plane and we're all going To get the answers you can bet on that We will follow it we will have him on The show and by the way he's going to be On the stage at xrp Las Vegas oh it's going to be straight fire
Ladies and gentlemen get you ticket They're selling fast this right here Metal law man says uh this is about the Federal Reserve and operation choke Point 2.0 and the Crackdown on crypto And just a very quick level set for People who not aware Caitlyn long who Has custodian bank and custodia Bank Applied for a uh an account a master Account with the fed and they were Basically turn down after like 18 months Or two years or something it was absurd They made them wait that long and then Told Caitlyn no and what's the harm in It well the real harm when you get Underneath of this is that custodia bank Is designed to back everything with zero Fractional lending it's one to one or a Surplus when they Lend and that's not how the entire Financial banking system works now is it Because in short order if custodia Bank Was allowed to do that then guess what Then every other bank would seem as a Liability because they're fra fractional Lending in custodia bank would not be That's why I believe the FED said no to Them and strung Caitlyn and everyone Else along for so long however the judge In the custodia bank case against the FED has canceled the scheduled trial Uh-oh signaling that a ruling on summary Judgment is imminent a ruling against The FED would be a major blow to the
Government's operation choke point 2.0 Attack back on crypto I tell You shout out to metal all man for that One and while we wait for that decision To happen let's understand what's going On with the stock market and everything With Larry Fink at Black Rock and shout Out to the good morning crypto crew ABS Johnny everybody over there coach JV and Jeremy and I can't name everybody over There but they're all great Jenner toos There I believe now so shout out to Everybody over there they're really Great crew I I want you to listen to This clip I want to raise my hand Because you make such a good point you Know now advising 28% Allocation well if anything I think you Know listen and what have we seen Billions and billions and billions of Shares being sold at the same time in The General stock market ladies and Gentlemen and let me tell you let's mix Those two understandings so Jeff Bezos And JP Morgan and everybody else out Here is selling off massive positions of Their stock sh and I just saw somebody Else this morning I can't remember who It was and now black Rock's telling Their clients 28% allocation instead of Two to five% exactly this is for spot Bitcoin ETFs now is the biggest signal You're ever goingon to need to know and Understand that there's a huge collapse
And correction coming in the traditional Markets and this flight to Quality as They call it at Black Rock is absolutely A hedge for their clients as the rest of The mark Market is going to get Decimated if they don't find some high Ground to stand on I really do believe That I really do believe that now it's Not Financial advice but I do believe That that is a signal there uh and now We want to look at this signal uh Gary Gendler pressed and Kaylee over at Bloomberg is I'm tell you she's going to Ask the tough questions I'm gonna tell You that take a list that it is that she Asks Gary gendler and grills him about Ethereum possibly being a security Staying within the sec's chalk lines Despite U uh conversations that you're Having today around climate risk you Also I'm sure as a five member Commission and is the staff are going to Be considering in recent months because You are uh facing a deadline coming up In May around a spot ethereum ETF having A it is Kaye you had to get I do have to Ask this question of course we are now About two months into a world in which Spot Bitcoin products exist they have Had incredible uh demand more than $8 Billion in inflows now the optimism is Ether spot ETFs are next do you not First have to settle the question as to Whether ether is a security or a
Commodity can you answer that first well Kaye again uh on any one of these crypto Tokens it's about the facts and Circumstances as to whether the Investing public is anticipating a Profit based on the efforts of others um But we do have filings in front of us I'm not going to comment I will say this This is a highly speculative asset class One could just look at the volatility of Bitcoin in the last few days and look I Grew up loving roller coasters maybe in My adult years I don't ride them as much But you you really should be conscious As the investing public that this is a Bit of a roller coaster ride on these Volatile uh assets and then the question Is is how How firm is the foundation of The you know you get to the top of that Hill how's the foundation underneath it And other cash flows or what's the use Case for thousands of these tokens There's about 15 or 20,000 of them they Also may be Securities because the Investing public is relying on the Efforts of some group of entrepreneurs In the middle of these projects and Would you consider ether as part of that Group that may be Securities I Understand you're asking the question But again I'm going to defer on that Question I love that she grills him Though because it really shows the Evasiveness and the lack of true
Leadership he could absolutely speak on The matter if he wanted to there's no Question about it because you know what Roston Benham speaking on it take a Listen to what he says as it sounds a Lot like him saying they considering Allowing the SEC uh uh the cftc says SEC Is considering allowing special purpose Broker dealer prometheum to list Ethereum as a security which would Require Commodities exchange to delist E Ethereum Futures uhoh uhoh and we have Had them for a number of years just About four years um and by default this Is at least in part why I publicly Stated that both Bitcoin and ether are Commodities um I am not I have not been In communication with uh promethium I've Not um discussed their decision-making But from my understanding essentially Reading the press and talking to my Staff who have reached out the to the SEC this was an independent decision by Prometheum which is um as you mentioned A special purpose broker dealer to Signal to the market that there is their Intent to custody ether so it is my Understanding that this was not at all a Decision by the SEC um and that this was an individual Decision by The Entity how this plays Out obviously is very critical and Really goes to your your point and the Issue is if we do have any action by the
SEC to essentially validate um that Decision I.E you know constituting ether As a security it would then put Our registrants our exchanges who list Ether as a Futures Contract sort of in Non-compliance of SEC rules as opposed To cftc rules so I am working with chair Gensler we're working with his office We're working with the agency to ensure That whatever steps are taken are Deliberate that we involved and that They understand certainly what the Consequences would be if there was a Decision by the agency to determine that Ether was a security as of now we need To preserve the Integrity of our Market Market and understand that this is a Years old decision where these markets Are functioning well under the under the The decision and the conclusion that Ether is a Commodity so there you have it now you Have to wonder as Anders asked the Question right rightfully so underneath Why would the SEC do this and not just Launch a lawsuit just a theory could be Completely wrong maybe they wouldn't Want to open a lawsuit with all the Potential dirt that could appear hm Clayton Henman Etc He's Absol you know this is certainly a Valid uh thought process there's no Question about it uh the other side of This is too is that if this is in fact
The case and maybe that is the angle you Have to wonder think about the negative Impact that could happen now right think Of it for a moment I want you to think Of you know what could really take place And the decimation could take place to That protocol and that Network could it be the realization that It's centrally controlled by JP Morgan And China could we have that honest of a Conversation with the SEC I don't know I Wouldn't hold my breath for that but Nevertheless with that being said let's We got a lot more to look at here let's Take a look at this as well in response To that Ashley Prosper says here sounds Like the cftc chair is warning the SEC To not claim ethereum as a security Now Why after all this time time why would He the need feel the need to issue such A public statement if the SEC was not Thinking of doing exactly that that's Another fantastic point from Ashley Right here the red flags can't be Ignored failure to answer if eth is a Security in Congress failure to answer e E is a security in a lawsuit rejecting Henman's speech is personal opinion Delaying the ETFs for eth uh twice and Using a default judgment in court that Names veral eth tokens as Securities Gary might not call eth a security in The end but you could tell he really Wants
To right and think about what kind of Impact that would have in the Market then I I couldn't help but think About uh I couldn't think about pist Who's building the bridge from the Ethereum virtual machine to The xrp Ledger boy how grateful will they be for That bridge if this really continues to Get Ugly then there's this Matt W says if The SEC wants to use promethium as a Puppet to say eth is a security they may Want to think about leading the Company's next financing round this is Some seriously thin Ice it's not a lot of dough here of Course they're not launched yet either But then Michael down here says yikes Turns out having a law degree in some Friends at the SEC doesn't equate to Product Market fit which I thought was a Very fun answer and then I responded a Great comment to Mike but I said but I'm Thinking maybe it's just that exposing Eth gate has forced the SEC to take an Unavoidable stance to save what's left Of the Integrity of the SEC if there's Any left to save at All and that's pretty much where we sum It up here with Ashley Prosper here Funny how most ethereum competitors Soul Avac had suddenly uh spikes and prices Over the last few months you remember All the VCS pushing it's going to be
Salana it's going to be salana right They're looking for ground to get off of This network somebody knew something cuz The rats are jumping ship before the Ship sinks saying that I just realized That ethereum's logo isn't a pyramid at All it's a sinking ship silhouette with The bow pointing upwards out of the Waves and the rest of the below the Water just like the Titanic it could be You better be careful I mean this could Really get out of control this could Really get out of control for ethereum And anybody on It now I want you to take a look at this Because here's another macro idea to Consider this is a multiple year old Video of Greg kid back when he was at Ripple and explaining to people in the Early days exactly what the xrp Ledger Can do now I want you to take what we Understand today about the current Problems that have just been highlighted About ethereum and where it may be Headed and I have often said certainly When I certainly started the channel Here everything runs across on the LED Because the Ledger is also a Decentralized exchange that doesn't mean It'll be one Ledger for for them all it Means it'll be multiple ledgers plugged Into that decentralized exchange because The more value it to The decentralized Ledger is when you have more liquidity
And utility to make pairings and settle Things right and move it from repository To repository person to person so um the Interesting part about this is that Knowing where we are today and the Possibility of the trouble e may be Looking at and staring down to barrel of Think about the fact that everything Could be running across the Ledger at Some point with digital assets and Support to making a market because of The Decks take a listen at this and multiple Ledgers could be plugged into this and Serve this way by just asking you to Describe to the committee a little more About what Ripple is I mean it's Obviously a company it's been in Business for how long it is now Currently handling transactions for Banks other currencies around the world Could you just give us a little more Background as to Ripple sure so so Ripple is a very Traditional Silicon Valley backed Venture Capital back company it's raised Money from the likes of uh Google Andre Uh Horowitz idg the Chinese um raised About $30 million in Venture Capital so Far and announced rounds as I mentioned There's 95 folks so uh it is a company That has mostly Engineers working on Building this protocol and again to Think about the protocol if Bitcoin is
Like one big Ledger uh where everybody's amount of Bitcoin is in that ledger Ripple is the Same except The Ledger includes every Form of currency so instead of just Holding Bitcoin balances or xrp P Balances think of it as like one large Spreadsheet that everybody can see and Everybody can use but the balances also Include Fiat currencies it could also Include Commodities such as gold and Silver so the part that is like Bitcoin Is that there is a distributed Ledger Most of the engineers here are sort of X Bitcoiners it just is that they extended The protocol to include all currencies Rather than just simply the Bitcoin and It also allows the use of market makers People that are willing to trade from One currency to another to actually Operate within the protocol so so that's The big innovation here sort of a 2.0 Innovation is to allow a distributed Ledger virtual currency but operating Right alongside fiat currency as well There you have it right there talking to The senate in Canada and everything runs On The Ledger did you hear it it doesn't Mean one ledger to rule them all The xrp Ledger is a DEX the more ledgers you can Plug and tap into the Dex the better you Could make markets and serve the world More Efficiently that's what it's all
About the question now is is the trouble That ethereum may be staring down the Barrel of of being a security going to Decimate that Network and protocol to Where it forces a lot of attention to The only asset with true legal Clarity Which is xrp and The xrp Ledger before we get out of here let's Look at this from coins kids uh taking a Look at the xrp chart on the monthly is More Confluence to my blowoff top theory In July of this year for risk appetite Bitcoin xrp tags everybody for all of it You can see the chart here what a clean Chart this is right here and I love Looking at this and seeing that head Room and seeing that right above Somewhere just under 250 might be 220 or Something I've seen in the past from Technical analysts whether it's egg rad Crypto or others you know um it's Definitely uh something to look out for I love how clean this chart is and you Can see where we've hit resistance here Before it hit resistance here right and Then we're here and if we hit here so It's what what I love about this is that If we get above that 220 250 Mark Whatever it happens to be there I'm Really interested to see what happens After we get above that Mark and what Would be the price driver to take it and Continue to push above that Mark Wouldn't that be interesting especially
If it ends up being something like Stable coin legislation right open up The door for banks in the United States To start using this technology how Amazing would that be I hope you will Join us at dig perspectives. in the Freedom Zone it's not Financial advice From me or anyone else but we are going To get into gen xers today that's right It's about us and boy this is a fun Little clip and you're going to want it It's so true it is going to take you Back we going to love this all in the Freedom Zone ladies and gentlemen come On In all right
