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Welcome back to the show everybody well Is tether out or is tether in what's it Going to be we're going to take a look At it and guess what else we got Ripple Partner news it's going to make you Smile somebody roll that beautiful [Music] [Applause] Intro digital perspectives with Brad KES Come on in Welcome back to the show everybody you Can follow us on Twitter Youtube and dig Prospectives decom for exclusive content At the top of the screen $22.59 trillion Market cap the market is up 1.7% Bitcoin 66,500 plus 3200 Plus for ethereum 110 Billion plus market cap for tether and Xrp at the number eight spot slipping Back down one on the market cap at 54 Sets right now up 0.2 on the 24 and up 11.5 on the 7 day oh I like that and Ranging between 54 and 56 cents we'll Keep an eye on it but I tell you what I Like the way this is looking strong like Bull is how I'm seeing it this morning Uh don't make me buy more xrp cuz I did All this whole dip I've been buying just All through it don't tell Mrs backup Either but I've been buying the damn dip And at 55 cents it's looking nice like You know maybe I just I don't know maybe I get a little more it's two for a Dollar That's how I'm seeing it that's a that's
A sale isn't it all day long yeah look We got a lot to get into I can't get my Needle stuck I want to start right here Because this really points to why I'm in This space right there's many people in This space for many different reasons And they're all great and I love it but This is how I got in this space and this Is ultimately why I'm here because of The problems you're going to hear Ray Doio talk about in this Clip great I thank you for your time um My question is do you believe there is An actual uh currency currently Challenging the US dollar as the Global Currency and if yes which one would that Be is there any realistic air to the Throne No but listen I think we're entering a We are entering an era where all Currencies are going to be Bad and it's an ugly Contest in other words is it the euro is It the yen is it the REM andb okay is it Gold gold is a currency that's right is It Bitcoin okay there's going to be a void In my opinion because of this nature of This debt debt is currency if you're Holding um a currency you're holding a Debt instrument that's right and so be Given the dynamic that we talked about We have a debt problem I believe here And so the question is what is an
Alternative a currency is a medium of Exchange or a storeold of Wealth I think the dollar will remain a Medium of Exchange but it won't be effective as a Storeold of wealth And so that's where we think okay what Are the elements of a storeold of wealth Well one of the elements of a storeold Of wealth is that you have to be able to Transfer it to somebody in another Country who will accept it so it's got To move around okay so it's not a Storeold uh a currency is not a real Estate oh so how do you trans and what Will be accepted all around the World is so that is what the question is Going to be I think I think gold will Stand as the best of that but Bitcoin And others are going to their you know What are their issues and we will be in A void as to what that is because the Basic problem is that you can't trust Central Bankers I mean they're all in a Bind they all have too much debt they All have that bind so who's going to Withstand it they compete with each Other when one devalues if the dollar Devalues the others are going to want to Devalue because they going to be under Uncompetitive so I think that that's the Nature of our circumstances that is the Nature of our circumstances and you Can't sum it up any better why I'm in
This Space and a part of that Competition to race to prove that you Could be a worthy Competitor as a reserve Currency that competition has already Begun Just like there was a 14 15E period Before the US dollar was chosen as the World Reserve currency where it had to Compete to become strong to even be a Contender on the list for a replacement To the Pound this is the moment we're In and what I hear Ray doio saying here That the US dollar won't be very good For a storeold of value but it'll still Work as a medium of exchange Well that sounds like Hyperinflation in Disguise is what that Sounds like to me you'll still be able To use it to make transactions but you Won't want to hold it because it won't Be worth a damn dayto Day and that speaks to the larger Narrative of stable coin legislation Being so very very important because of What I've talked about about building a New use case for dollars and Treasuries to soak up the hyperinflated Money coming back home to the US because The world is moving to a new Financial System because as Ray doio just Said it's at the doorstep of all the
Central bankers and that aligns with What we have said from this channel from Day One it was a real estate default swap Crisis in the last crisis 0809 it is a Money crisis in 2024 which means it is at the doorstep Of the central banker and they have no Other means printing money won't fix it This Time it'll continue to harm It that's why stable coin legislation is So important to Me here we see the current SDR is limited by the US dollar And this is coming from a report from JP Morgan 2024 abandonment of the US dollar as a Reserve currency caused by a crypto Challenger yes this is a report right Here by JP Morgan which was not intended For the general public retail Distribution institutional wholesale Professional clients and qualified Investors Only yeah how about that one And here inside the Report rapid abandonment of USD is key Reserve currency sounds like what Ray Was talking About you could use it as a medium of Exchange but the storeold of value isn't Going to be what it was right a Challenger to USD from either crypto or
An alternative fiat currency now I think That the Challenger will be the Complement and that's xrp Meanwhile the brics Coalition explores Creating a crypto stable coin for global Trade Settlements you have to wonder if Ripple May be helping out in that regard seems How they have so many connections to so Many of the countries in the bricks Coalition and I remind people Ripple to Launch a US dollar stable coin taking on The1 15 billion stable coin Market That's currently dominated by tether and Circle Listen to what Joe or uh David Schwarz Known as Joel Katz on Twitter says back In 2015 went asked about this question See is it possible that just as the USD Is the reserve currency of the world Right now against what a lot of people Would like to see is it possible that The USD could eventually be the reserve Currency of the Ripple protocol Ripple Network it's certainly possible there You have it and here we are watching it Unfold not in in 2015 but 2024 Ripple is going to launch a US Dollar stable coin on ethereum and The Xrp Ledger it will be Massive let's listen to the latest here From Tony Edwards from thinking crypto Who's got a new book out rethinking Crypto make sure you get that and listen
To this right here from Cody Carbone From the digital chamber you had Senator Kristen gilbran and Cynthia lumus put Together a stable coin regulation Bill Tell us about that lumus and gilbran Have worked on stable coin legislation For several years now this is something That they truly worked on themselves There is some discrepancies between this Bill and the house bill the way they Regulate State issuers non-bank issuers Versus the house effort is different They both try to preserve the Dual Banking system they added about a 100 Pages in this effort on what happens if A stable coin issuer fails I think this Is directly um in response to some of The bank failures back in March of 2023 When some of the stable coin issuers Lost their Peg I think it signals that There is a real motivation to get stable Coin legislation moving forward now that We have a house product and a senate Product now all we need to do is get Them together and get something enacted You heads that's 100% on point right There and shout out to Cody who will be On stage at xrp Los Vegas don't mess Around ladies and gentlemen get your Tickets before it is too late now let's Do this right here presentation of Micah Literally says the exact opposite of What you are saying there is a Contention moment here and lo and behold
Elizabeth's right in the middle of it Tether can meet the requirements of Micah regulation which is anticipated to Be enforced starting by the end of this Year 2024 to to adhere to this Regulation tether must thoroughly Examine Micah guidelines particularly Focus on the definitions of key let me Just finish the rest of this uh finish The uh let me find my spot Here H starting December particularly Focusing on the definition of key such As transactions and means of exchange Tether has already initiated adjustments To its compliance procedures by Collaborating with regulatory bodies in European Union and thirdparty audit Firms these Partnerships aim to furnish Evidence and transparency regarding Tether's reserves indicating proactive Approach to Regulatory Compliance so now Coming back to uh let's see if we can Get this uh tweet here to Micah Micah uh Says here Smoke Dog shares this since Usdc and USD te are no longer pegged to The US dollar and their value is Supported by other assets as well Technically they do not meet the Definition of an e-money token under Micah so at the very least some things Are going to have to change if they're Going to be compliant under Micah right But that is all because we know that Also it has been referenced by Monica
Long that Ripple has shifted its on Demand liquidity operations to USD Tether or stable coins broadly because They don't want it touch us customers Touching xrp while the case is still Underway uh Elizabeth publicized this Change on social media and long stressed The importance of using legally approved Stable coins for future transactions Within the us but the problem is is that Is tether technically a legal asset in The US that's the that's the question right That's the question this is where the Plot thickens right here from xrp drops Not long ago last Month tether world's largest stable coin With a market cap ization of more than $ 100 billion would not be classified as a Stable coin under the proposed Cftc taxonomy here in the United States not to Mention this guy talking about tether Being used for illicit activity just Last week the Wall Street Journal Reported how Russian Smugglers use the Stable coin tether to evade sanctions on Russia's War Machine tether's a quote Key step in the chain unquote of ilicit Transactions one Smuggler said close Listen to this Russia increasingly in Addition we've seen Russia increasingly Turn to Alternative payment mechanisms Including the Sable coin tether to try
To circumvent our sanctions and continue To finance its war machine that is Deputy secretary to the US Treasury Wally Ado right There and Elizabeth waren plant if you Want to be more specific pafic right so The problem is is that you know look I Don't know what happens to teller I've Been saying this and asking this Question for a long time about tether Does it get Unwound is it get shut down Or does it get forced under presedential Regulation as Elizabeth is Suggesting how do you make tether kyc AML and CFT compliant when they haven't Been for more than a decade I don't know The I I do not pretend to know the Answer to this I know others do but this Is why I asked a question a very real Question here will tether remain or will It be forced Out and if they did wouldn't that solve A lot of problems for the Gary genders Of the world who would love to see this Space go away because if they squash Tether the money from tether could flee Into usdc and ripple stable Coin so your treasuries are going to get Used if you're concern is the US Treasuries they'll go somewhere they Won't be sold off and just fall through The floor they'll just run into another Stable Coin so then the question remains from
There if they were to go after tether to The point of shutting it Down wouldn't that get rid of 90 plus Per of the crypto market and the only on And offramp into those little piddly a Coins that a lot of people put claiming They're supporting developers but They're really just pumping tokens and Just cloaking it with the idea that They're trying to elevate the space for Developers right oh what a racket what a Racket it has Become we'll see where all this goes but I tell you there is still more to go Here because I have said this clearly And I say it again today because I think It's obvious from the conversation That's happening here which isn't bad I Think we're trying to all find out Exactly where tether Falls at the end of The day because right now it's quite Clear to people on Capitol Hill that Tether is on the outside of Regulation as far as they're concerned And isn't that who we need to be Concerned About I mean with respect I mean I Certainly appreciate all the people Involved in this conversation's Insights Ripple included but at the end Of the day it's the legislators and The Regulators we really need to hear From we can all sit around and talk About what we think but let's talk about
This Ripple news Ripple Partners you Know triango just to remind you going Through this news as a reminder Ripple Partner triango uses xrp in realtime Transactions right that one down that's Nice visa and Standard Charter Collaborate to facilitate crossb Payments B2B come on in yeah and both of Those are direct and indirect Relationships to Ripple as well I love It it you love it we all love it Standard Charter joins voices with them In that crossb effort and they go on in Here to talk about how that Relationship's going to work it doesn't Mention Ripple but we know we know as I Can show you a lot of people are new to The space Visa acquired Ripple partner Currency Cloud for $925 million back in 2021 that's right they were preparing For the moment that is coming back in 2021 Standard Charter back zodiac Custody joins Ripple own Medico Global Crypto storage Network all the Connections are there and then Ripple Partner thunes acquires Tillia to further expand into the US Market it operates under Licensing in 48 States in territories provided Payment Solutions provides Payment Solutions for A wide range of digital environments Including online gaming and Virtual Worlds that's what's going on in the World of Ripple and xrp and stable coin
Coins and the digital asset space Broadly and you know it right here if You haven't gotten your ticket ladies And gentlemen we're now 8 days away this Is the time to do it ticket sales are Supposed to go up tomorrow but I have Gotten so many messages from people Asking me can I just wait a couple days And you know what I'm hearing you and I Love You and I'm postponing that we're not Raising the price if you're going to get Get your ticket get it today I want all Of you to be there get your ticket but I Tell you it is very real I may have to Stop selling tickets based on the room Size because there's other events Happening around us and I honestly if I'm being honest I am pleasantly Surprised that we have sold as many Tickets as we have because I did not Know that we would do that right and it Is a happy problem to have and it is Because everyone has responded so well And kind to want to come and I want you Guys to come so we are postponing the Ticket raise Because the the response has been Overwhelming and you know what I I love You guys I think you guys are amazing And I want as many of you to be there as Possible that's that's what I want I Want us all to be there together because Like Ray doio pointed out this is the
Moment we're in and this conference is Themed exactly around the topic that Ray D one of the largest investors in the World one of the most successful Investors in the history of the world is Saying is the theme of our conference It's a new era of finance that we're Moving into ladies and gentlemen and it Would really be amazing to be able to Meet you at xrp Las Vegas in eight days I can't believe it oh by the way special Announcement future of digital asset Benefit dinner I've got a 25% off coupon So this disc code rather so you can have Private dinner and meet brag Garling House in person and guess what else Special breaking Announcement this just in there's going To be a live band performance and it's Going to be off the chain ladies and Gentlemen yes we have musicians flying In and coming in from California and They are remarkable and I will be Performing on stage after Brad Ging House is live uh fireside chat with a Remarkable artist Ronnie Nash who is Just absolutely incredible and we are Going to rip the roof off so if you Haven't got your ticket for the Fundraiser click that button right here And go get it because when you click it It'll take you right to the Future Digital assets uh benefit dinner and Look at here look at all the great
People Brad garlinghouse John Deon Michael Arington uh Christian Carlo Eleanor terret Congressman Wy Nichols Going to be there now too I'm going to Be there performing digital asset Investor's going to be there Mrs Backup's going to be there listen this Is going to be a remarkable time and This event will sell out and I know There's only a few days left and I tell You there's not that many seats left Either so if you're coming you better Get your ticket ladies and gentlemen That's what we're doing I'll catch all Of you in the freedom Zone not Financial Advice to me or anyone else we're going Inside right now come and join us come On in
