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Welcome back to the show ladies and Gentlemen we have the US Deputy Secretary of the Treasury Nelly Le Nelly Leang and we have Brad garlinghouse Fresh off of Fox news this morning uh Somebody rote that beautiful Intro digital perspectives with Brad KES Come on in Welcome back to the show you can follow Us on Twitter Youtube and dig Perspective.com for exclusive content Right now $ 2.38 trillion market cap for Crypto the market is up. 3% 62,200 Plus For Bitcoin 300 or 3,000 Plus for Ethereum right now 10 18.8 billion plus Market cap for tether for now oh boy Wait till you hear this uh Brad Garling House's clip on you're going to want it 49 cents for xrp we're off by 19.8% on the 7 day but don't you worry About it oh A change is going to come Ladies and gentlemen ranging between 48 And 50 cents we'll keep an eye on it I Want to tell you about this gold is Setting new highs ladies and gentlemen How many times I've told you I told you Go to Miles Franklin look at all the Products they got Gold Eagles silvered Eagle Maple Leaves gold kangaroos bars Silver gold bars Platinum bars they Rounds they got it all all you have to Do is go sign up and once you hit the Sign up button in the top right go right Here and then just simply put dig gold
In the referral code and you're straight And then you could even email them if You already have an account then email Them info@ mfranklin decom and put dig Gold in the subject box that's the way To get the best prices and services Right there okay now let's start right Here because apparently we have found The only three people in the world that Are slightly confused about the benefits Of a ripple launching a stable coin and They don't happen to mention that it's Going to be launched off of ethereum as Well as The xrp Ledger look at the Confusion here how could they be Confused knowing tether has been able to Conflate bitcoin for more than a decade How could they be confused that having The usdc erc20 token on the ethereum Network has been beneficial but yet when It comes to Ripple and the xrp Ledger we Just we I you know maybe it'll be good I What's wrong with these people just Briefly about the Ripple supposed stable Coin supposed um Rob so right so they Have xrp which you know is the a big Altcoin supposedly they're in thinking Of of launching a stable coin um they're Not supposedly thinking about it Rob They're doing it I don't know like do do We need more stable coins I I don't even Really know you know I mean obviously They're a great use case for crypto Outside of Bitcoin but I mean you know
Eron Arnold like you're your quick Thoughts on that have you followed that Are they going to do it why are they Doing it is it significant here we go Yeah um it is it's a good question They're doing it because they're seeing In the past five years the stable coin Market has really blown up you know over Five years ago the crypto people the Bitcoin people used to think oh you know These third world countries they're Going to want Bitcoin because their Currency is being devalued and that's Still true but what they want more than Bitcoin right now is even just a access To the US dollars so they have a a Stable medium of exchange and the Regulations for stable coins have been Getting better and better and if you can Get a piece of that market any Savvy Businessman in that sector would want to So Ripple is creating a stable coin uh On The xrp Ledger and will it get Adopted that remains to be seen is that Kind of uh you know the antithesis of What you would do if you want to see xrp Get adopted I'm not sure I think they Could both uh they they could both uh Grow together like the thing is what we Have been seeing though is um ethereum And ethereum L2 stable coins kind of Getting adopted more than others but Even usdc which is an ethereum Us-centric stable coin is is multichain
Now with salana and uh and multichain With salana which crashes Right the damn thing goes down more than My ex-girlfriend for Christ Sake waiting all more than to hit you With that line uh listen uh look these Guys here what the confusion I you know God I don't know you know what's to come Of all of this you know uh I don't know Maybe educate yourself before you decide To answer a question why does anybody Have a problem going you know I really Don't know that much about Ripple or xrp The token or stable coins being on their Ledger so I really couldn't speak to it That's how if I didn't know the answer That's how I would come at that and then I would engage someone else to maybe Enlighten me if they are able to um that Doesn't seem to be found here uh it's Just great confusion here I guess if it Was Bitcoin no one would be confused About it right it wouldn't be a problem But you know what just hold on to your Hatch gentlemen the big boys are here The instit tions are coming and they Won't be needing any of your help right That's what's coming and stable coin Legislation is about to show you what's Going on and wait till you hear Brad Garlinghouse talk here in a second this Is a reminder of the kind of shape the Federal Reserve is in while we're Talking about new Innovative options to
Take advantage of to help the economy Like stable coins yeah then we know Tether is on the chop and block for Having uh all the money that has gone Tether has laundered 10 billion a month That we know of uh for Russian sanction Evasion how about that one and that is Not sitting well with the US Treasury as You can imagine and it may very well be The reason they go kick the doors In I'm going to play a couple Clips out Of here shout out to 801 xrp for this This is the US Deputy Secretary of Treasury here and I'm going to try to Give you just the highlights uh you're Going to want every single bit of it but I can only give you so much here so let Me give you this um yeah let let let me Uh let me start right here with uh let Me go into it's video number two Let me Find this for us here we go first Video there's two interbank settlement Systems that enable Banks to conduct These kinds of value Transfers um first there's the Clearing House RTP Network launched in 2017 but more recently the Federal Reserves fed now service which was Launched in July 2023 um it started with 35 institutions It now has as a February 470 Institutions um there's clearly an Upward Trend but it's limited and There's a couple reasons it could be
Limited uh one it takes some time to Gain Network effects two there may be Limited incentives on the parts of the Intermediaries to make fast payments Available to to customers they could Lose out on some of their fees or it Could just be there's limited consumer Demand for fast payment systems given All the other available payment options And regardless she goes on to press on About why we need to move and accept This Innovation and bring It Forward Including the conversations based around Tokenization and security fails which She talks about in the second video we Don't need to go into this I want to Highlight it for But I want to start with this not I Think it's this one right here so uh one Second here let me get this cued up for Us some of the potential benefit right Here okay so let me cue this up for us So we have this you're going to want This as well this is dealing with Updates regulations for non-banks which Is the current status of Ripple part of the token ganization So in the US I think you also need to Update the regulations for Non-banks um advances in technology on Their own aren't going to ensure that we Get these benefits um non-bank payment Service providers are regulated at the State level many of these Frameworks
Were introduced in the 1930s when for wire services like Western Union so our current payment Firms are quite different um the firms Are growing they increase competition They can create efficiencies from Innovation because they specialize they Just do payments they don't do Everything but they can also introduce Risk because they they're creating money That is from non-banks not Banks so There's some risk in the way they Transfer value across C holders so I Would argue that as part of this these Advances in technology that I believe we Should be trying to adopt um you also Want to update the Framework to address the risks but also Perhaps to encourage faster adoption so So that right there is talking about the Market infrastructure which Ripple's Been working on for more than a decade Reminder that they're also a part of fed Now and let's keep going so um just for Those who are we we spend a bit of time On stable coin legislation m which Includes requirements regarding the Assets to back the stable coin as well As high standards for operational risk And um illicit finance and these would Sort of C they capture the elements of What an important like new uh payment Regulatory framework should cover and we All know what that what that entails
From the new stable coin bill now let me Give you one more here with you going to Want to see here and this is about the Importance of why all of this is even Being talked about it isn't because They're chasing green candles and it Isn't because they're interested in meme Coins this is about why I'm here the Role of the US doll around the world as The world Reserve currency and the Deputy of the US Treasury secretary is Getting ready to tell it to you to your Face and then we're going to hear from Brad garlinghouse and wait till you hear What he says take a listen to This not to to be a a national security System the role of the payment system Would be um to support the role of the US dollar by having it maintain its Technological status aligned with the Rest of the world there you have it this Is about the power and dominance of the US dollar serving as a world Reserve Currency um as I mentioned about a 100 Countries now have fast payment systems There are many countries you know They're looking at tokenization many are Looking at cbdc which is one form of Tokenization the US needs to be engaged In those discussions it's not a tool it Is The payment system is not a tool it's a Tool for National SEC it's a tool just To support the continued use of the
Dollar which has many um other Advantages to the United States other Than National Security as you know we Benefit from the role of the dollar in And we sure do you tell them Nelly uh Listen let's understand this very Quickly too sologenic was joined by uh Innovators here but take a listen to This and what they're doing I'm Mike Mclusky head of strategic Partnerships At sologenic I'm Marcus I'm the SVP of Ripple X and ripple X as you may know is Basically uh overseeing all the Contributions of Ripple to the xrp Leer What we're working on here at sologenic Is real world asset tokenization so we Are mostly focused on tokenizing stocks And ETFs uh but we have the technology Infrastructure to tokenize really any Asset um our position is that Financial Institutions are going to want to trade And and build portfolios with tokenized Securities um and so we're we're really Building for where the puck is going uh Because we see in the future that's Going to be a very important piece to uh Every asset manager's portfolio oh super Excited about uh what you guys are doing And look uh we at Ripple we uh see uh Rwa really as a key strategic pillar Particularly on Ripple X you probably All have seen the news with uh Black Rock basically launching a tokenized Money market fund and I think it really
Manifests that we're at the start of a Paradigm shift where blockchain Technology uh will be integrated in the Real Financial economy by traditional Financial institutions and that's a Million per on point right there now let Me take you right to this shout out to Chad Stein grber for this Brad Garlinghouse just recently on Fox you Want every single bit of this and tether Comes up as well as stable coins on The Xrp Ledger oh my oh My take a look at crypto this morning as We see stocks moving higher crypto is as Well Bitcoin at 62,000 as you see Ethereum Litecoin all up this morning Joining me right now exclusively is the CEO of Ripple Brad garlinghouse Brad It's great to see you great to see you Again thank you so much for being here First assess where we are in this market Because crypto's up huge in just the Last couple weeks Well it's been up it came down a little Bit this past weekend uh but I think if You step back the last 6 months Bitcoin's up about 250% I think you're Going to continue to see Tailwinds Partly because of the ETFs that have Been approved which you and I spoke About and Davos but also the upcoming Having which is imminent yeah it's a Great it's a great point the ETF uh Introduction really broadened out the
Market in terms of potential users I Think and people wanted to get in on it So they bought an ETF to do so but you Recently predicted that the crypto Market will double in size to $5 Trillion by the end of 2024 that is a Big prediction just by the end of this Year yeah I don't even feel like it's That big a prediction when you step back And you know like any Market this is Driven by supply and demand you have Decreasing supply for a whole bunch of Reasons to having Bitcoin being an Important one you have an increasing Demand the ETF being a key part of that Uh and I think it's also people Realizing that crypto plays a role as an Asset uh you know it's a 2 and a half Dollar market maybe it's a little less Than that now but so it's basically just Predicting it's going to double by the End of the year and uh if anything I I Think I probably under predicted that I I feel like Washington is still trying To understand this market and the people Writing the legislation or potential Legislation here to put barriers and and Around this Market I don't know that They really understand uh the the Strength and the growth story here but You think putting regulation around this Putting barriers in place is going to be A positive for this There is no question mean one of the
Headwinds that has held back the market The largest economy in the world the United States has been one of the most Problematic for the crypto Market Innovation entrepreneurs and capital Have flown into markets that have Actually constructively engaged this Market so Dubai Singapore even the UK The the EU has passed uh legislative Progress here the US has really been Behind the eightball this Administration I think has taken a pretty anti- crypto Stance led by the C Gary gendler as a Chair has really because he doesn't Understand it I like I think there's Maybe he doesn't the people working for Him don't it's not clear to me I mean Clearly I think you have politicians and I would frankly call out Elizabeth Warren goes out and says the only people He's in crypto are you know Bad actors It's just not true and the US should Have a pro-innovation pro compliance Policy this is good for in terms of Growing jobs high paying jobs growing The economy and I think you're seeing You know people go out and just you know Talking points around anti- crypto that It doesn't make sense this shouldn't Even be a part is an issue this is about Growing our economy yeah this is about Leading the next wave of innovation I Was around Silicon Valley when the Internet was booming massive amount of
Value creation massive amount of job Creation the blockchain and crypto space Is here to stay and I think that's Become clearer and clearer but the US Government needs to embrace that and put Those those clear rules around it so That uh all participants can can play And grow yeah of countries because That's also an opportunity for you Obviously at Ripple I want to get your Take on that because you recently Announced Ripple is launching a US Dollar back stable coin later this year You say the bridges the the BR this Bridges the gap between traditional Finance and cryptocurrency tell us how That will play out why it's valuable and Give us the growth story for ripple Where does growth come from at your Company in the coming three years so to Start with that last piece we rippled About over 95% of our customers are non Us financial institutions we sell Payment Solutions we sell custody Solutions around blockchain and crypto We're going to keep expanding even Though the US market as we were talking About earlier partly from a regulatory Point of view has been slow to adopt uh The non- US market has been really Really strong for us and even and you're Going to be the infrastructure around All of that that is our goal and we Think that opportunity is huge we think
It's going to be great for ripple we Think it's going to be great for xrp Which is a digital asset we use uh so I'm very very optimistic about that I Just think that the US needs to to to Figure it out and the stable coin oh the Stable coin so like Ripple has always Been about how do we bridge this new World with a traditional kind of people Call it trafi traditional finance and it Ripple has always been that bridge we Started around payments and we sell into Banks a stable coin the demand for Stable coins has exceeded I think what People thought it's $150 billion asset Class right now some forecast it to be Over two 3 trillion in a few years that Would mean by the way very quickly not To interrupt that if we see a $2.8 Trillion stable coin Market in the next Few years that means that the crypto Market cap would be between 40 and 60 Trillion thought you would want to know The players in that space particularly One called tether is a non us-based Entity and the US frankly is kind of Going after that because they want this To be Regulated did you hear that well that's The first we've ever heard of that even Though the US market as we were talking About earlier partly from a regulatory Point of view has been slow to adopt uh The non- US market has been really
Really strong for us and even and you're Going to be the infrastructure around All of that that is our goal and we Think that and you're going to be the Infrastructure around all of that that Is our goal it sounds like to me that uh Xrp Ledger is in a position to be Revered as the HTTP for payments for the Internet of information making it become And helping it become the internet of Value that's what it sounds like to me Opportunity is huge we think it's going To be great for ripple we think it's Going to be great for xrp which is a Digital asset we use uh so I'm very very Optimistic about that I just think that The US needs to to to figure it out and The stable coin oh the stable coin so Look Ripple has always been about how do We bridge this new world with a Traditional kind of people call it trafi Traditional finance and Ripple has Always been that bridge we started Around payments and we sell into Banks a Stable coin the demand for stable coins Has exceeded I think what people thought It's $150 billion asset class right now Some forecast it to be over two three Trillion in a few years the players in That space particularly one called Tether is a non- us-based entity and the US frankly is kind of going after that Because they want this to be regulated Just yesterday uh there's a new bill
Introduced in the Senate to create some Stable coin legislation which I think is A positive step of like hey finally we Might get some forward momentum there uh But I think that Market's going to grow A lot I think a us-based player who is Compliance first yeah has a great role To play it's a great story to tell BR Thank you wow I got to be honest I mean That looks like that sounds a lot like a Bat signal to me ladies and gentlemen And if I was at tether I'd be turning in My time card I don't give a how it Works out whether the FDIC ends up Taking it over right uh conservatorship Or whatever they call they refer to it As in the bill I don't know but I'll Tell you what it looks like a change is Going to come and if Brad garlinghouse Is talking about the obvious truth that The US government is now targeting Tether you better know it too and I'm Going to go back to a couple years ago When I brought up this point it was a Conversation that me and Big Skinny had And it is simply this if you were in a Token and the only way that you're on And offramp in that token is USD tether You better be thinking about your Choices right now ladies and gentlemen And be comfortable in those choices I'm Not telling you to change I'm telling You to be Aware because they probably won't send
Out an email when they do whatever it is They're going to do to either bring Tether in compliance or shut it Down looking at the chart right here Deja Vu ladies and gentlemen takes us Back to 2017 while well I like that kind Of talk from dark Defender cuz 2017 2018 Gave us this right here and boy was that Something to watch I was here for it uh If we get that again Sky really is the Limit and it could take us to$ 15 to $25 In a first to second leg move the first Leg move could take us up above five to Six bucks and then we could pull back And then go up even higher to that 10 to 15 $25 range that so many have talked About I'm super excited understanding Where we are and the announcement of This stablecoin bill and I don't think It'll be long now you don't make these Kind of statements without understanding That some kind of action is soon to Follow not Financial advice of me or Anyone else we're going into the freedom Zone ladies and gentlemen and boy you're Going to want to join us in there if you Think the Twitter slle in the xrp Community or something I'm about to show You the dangers of being on the internet And boy it could you could learn a Lesson here and it's for the whole Family no question about that we're Going to go into it right now in dig Prospectives decom click the button for
The freedom Zone and come on In all right welcome back everybody well As described I mean this is like super Creepy
