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Welcome back to the show everybody check Out these headlines we have for you Today we're going to talk about this We've got van Eck with 11 20 23 crypto Predictions one of which is about the SEC versus Ripple case and so so much More somebody rolled that beautiful Intro Digital perspectives with Brad kimes Come on in Welcome back to the show everybody you Can follow us on Tick Tock YouTube and Twitter for exclusive content right now 1.07 trillion dollar market cap for Cryptocurrency good morning we're off by Point five percent Bitcoin 22 400 plus 1567 and change for ethereum tethered Market cap is 71.5 billion dollars You're they're in the news today too 36 Cents per xrp we're off by 2.4 into 24 Hour and 3.4 on the seven day ladies and Gentlemen March 15th we're going to get Glint pays live reveal of the brand new Glint app MasterCard launching soon I'm Excited I've already got the app now and The MasterCard debit card but I tell you I can't wait to see what the new Features are and how all of this is Going to work together make sure you Click the link for Glenn it is the best Way for me to get my gold and accumulate My gold so I can have it and be able to Spend it just like everyday real money Without anyone ever realizing it click
That link underneath the video Breaking right now microstrategy Confirms exposure to silvergate but Underneath of this if you go down to the Statement from March 2nd microstrategy Says that they had a loan from Silvergate which is not due until q1 of 2025 there are Market concerns of Silvergate's financial condition for Anyone wondering the loan wouldn't Accelerate because of this uh insolvency Of silvergate or bankruptcy should it Happen and basically our Bitcoin Collateral isn't custodied by them Either so we have no other Financial Relationship with silvergate that's what Microstrategy had to say about that so That covers that we'll give you more When we have it Uh this is something I want to talk About right here this is a great read And we're going to go through some of This but not all of it you know uh and Most of you know that Caitlyn long has Been a huge advocate in crypto big Bitcoin supporter and also has custodia Bank and what I want to get into now is What she's really sharing here that She's been thinking about crypto and Banking which is in the news and we've Got some information and news after this Thread that sets it all up that you're Going to need so Hang in there with me here so you're
Going to need all of this so it Basically what she's saying here is that I spent years thinking about the issues Between Banking and crypto and that's What the summation of this threat is Really about here she talks about demand Deposits 100 with cash held in federal Master uh accounts for safely banking Crypto in the industry Now I want to bring you down here Because she also talks about here that Uh but that's not what the U.S banks uh And crypto generally are doing it says Please see for yourselves by reviewing Their financial statements it says 10-year Securities back backing demand Deposits that customers excuse me could Withdraw in minutes that's probably uh Probably but does it inherit isn't Inherent to crypto She goes on to say here I just finished Updating the balance sheet here analysis Of the banks in crypto and something Jumped out at her which is eight times Which is a number I've seen before she Says when any Bank puts eight times its Shareholders Equity at risk in anything That thing is going it goes Haywire the Outcome is predictable so basically what She's saying is is that Banks generally Are eight times leveraging against their Shareholders Equity right that's what She's explaining there now if we Understand that and then we understand
That you could do the math on that very Simply Simply compare demand deposits that Could be withdrawn in minutes versus Cash on hand and calculate that as a Percentage of shareholders equity So in other words what she's saying is If you're if a company has invested Eight times its shareholders equity in The stock market and when the stock Market corrects at 12 percent the Company goes bust that's what happens Right pretty simple math right there Even I can follow that but what Conclusions can be drawn A Bank Run Serving crypto have nothing to do with Crypto per se and instead have to do With good old-fashioned Banks borrowing Short and lending long that doesn't work When the bank demand deposits can be Withdrawn within minutes and crypto is a Canary in the coal mine for fed now Remember fednow 24 7 365 payments will Come online this year which means demand Deposits outside of crypto will start Settling near instantly Curiously though I have seen Bank Regulators requiring fed now Banks Haven't seen Bank Regulators requiring Fed now Banks to hold more liquidity you Get what she's saying here said settling Near instantly how does this how does This affect these banks that are eight Times leveraged their shareholders
Equity positions when you start settling Instantly now it's a really great Question because that is the transition That is literally where the rubber meets The road on this moving to a new near Instant settlement system right they Can't rely on the friction of the old System anymore related it was always Bothered her that the president's Working group Wanted only to ensure Depository institutions to issue stable Coins that's backwards she says there's A lot of liquidity risk in stable coins Depository institutions involved with Them should only hold a hundred percent Cash all of this is why Wyoming spdis Makes sense for the banking crypto Industry spdis can't lend and must hold 100 reserves in liquid assets custodia Bank proposed to hold 108 of its Customers demand deposits in cash in its Master account but was declined not over Yet though she says finally she noticed That uh something interesting when Compared to recent reports of FDIC You're going to love this part Inspector General of ftx's bankruptcy filings the FDIC internal Inspector General excuse me report said 11 FDIC insured Banks may have had Involvement in alleged wire transfer Fraud And of those some of them were Systemically globally systemically
Important institutions you could guess That one of them was in fact JP Morgan The plot thickens Kraken however who also recently went Through a settlement in SEC turmoil has Said that they intend to start a bank That's what they intend to do so this is Something to watch very closely because Now that we know that Caitlyn long Custodia bags taking a turn the door was Shut on them crackers Chief legal Officer says the exchange plans to Launch its own bank let's see where that Goes This is a clip right here from digital Asset investor shout out to him and John Deaton I think this is so spot on The plan Hand the crypto assets off to Gary's Wall Street buddies former U.S Securities Exchange Commission Enforcement branch chief uh I guess it's Bragonka I guess it is I don't know if I'm saying that right forgive me if I'm Not uh law attorney and this is what she Has to say here because I believe this Has been absolutely spot on that the Plan from day one is that if you can't Kill it crush it for the incumbents to Come in and save it Pennies on the Dollar I don't mind adding take a watch What what happens to the likes of let's Say a coinbase or a kraken or or some Other U.S base entity that that trades
In crypto uh that tries to be uh on the Books and and show everything to to Regulators when they're asked what Happens to them they get sued Well as long as they can satisfy the Sort of requirements that typically are Imposed on an ordinary broker dealer Like Merrill Lynch uh they will be fine but This is a problem because you can't take Your uh your crypto and find a custodian That can handle it I mean you can't go To the ordinary Bank custodians we know That uh the SEC has spoken about that So how do you do it What do you do uh it's a it's a real Dilemma What we need is guidance that says okay Here is an asset class that people want To invest in here is a way that the SEC Considers acceptable uh for for custody Of the asset Without that we are going to Regulation enforcement as people try to Figure out what would be acceptable and There you have it and what a great clip It is because I think it shows exactly What's going on you know there is a There is a price to keeping your eye on The ball right And I think all of this falls back for Me not Financial advice but certainly Falls back to one of my core tenets I'm Stacking my pennies next to their
Dollars when I see these large entities Not pulling away from this space but yet Digging in and setting up shop for what Is to come I have said it many times we Look at what is missing from this young Nascent emerging market and superimpose A traditional Market over top of it and Say oh custody is one of the first Things that's missing and if we solve That correctly which poly sign is also Doing and you can get that on link to Then you know that this is where we're Going and it starts with custody first You solve the custody problem and then We can start dealing with the other Choke points like stable coins hang in There Well looky here Tether has rebuffed a report on Wall Street Journal claiming it had ties to Entities that fake documents and use Shell companies to maintain access to The banking system First of all give Michael Branch a Follow he's amazing and second of all Shout out to my buddy Ricky who him and I were talking about this very issue and It's like you know you never see the CEO Talk where where is he at where's that Guy at and you you rebuff a report I'll Tell you what you want to rebuff a Report why don't you do it with a full On No Holds Barred third-party audit Because your greatest feature as tether
Is actually not revealing where all the Reserves are and I don't know how that Works for a future I can tell you that Look at what we're seeing and ask Yourself if that remains now some Positive stuff we want to keep a focus On while we move through all of this Information which I believe reveals a Transformation that's coming to this Digital asset space and it is birthing It as a very new market That will be very much regulated Confirmation here from Wrath of common That uh September 2021 announcement About paydeck mentioned local payments But little more about them is that local Payment also user covers the entire Cross-border e-commerce transaction flow For Latin America local payments Note the other ripponet users as well You can see Inside of this I tell you you know it's like there's a Lot that's being done and I know people Focus on price and you're welcome to Focus on whatever you want I'll focus on The fundamental news and as long as I See things like this happening I'm still Excited regardless of what's going on With the SEC versus Ripple case and that Is a huge impact we're waiting for and It could be days away local payments uh Lists Ripple as a partner user on their Website includes it including a
Description detailing the use of Ripple Net API you can see all the other References in this thread but I do want To say big shout out to wrathicom and Give him a follow Was their predictions 11 of them however For 2023 some of these you're going to Like probably and in some of these You're probably not going to like let's Get into them very quickly we'll Overview these I'm not going to read Them all Bitcoin will test 10 to 12 000 Range in q1 amid a wave of minor Bankruptcies which will Mark the low Point of the crypto winner now that's That's what we're talking about here This is December 2022 they gave these Predictions in full disclosure I want to Be fair right so it was the end of last Year that they gave these predictions But let's see how they shape up we're Still in the first quarter 2023 so it's Not out the window yet right in the Second half and by the way if I could You know if tether gets the rug pull we Could see that Bitcoin 10 to 12 000 Tests now couldn't we in the second half Of 2023 Bitcoin will rise to thirty Thousand they say lower inflation easing Energy concerns and a possible truce in Ukraine would be nice and to turn around Down in M2 Supply will power the start Of a new bull market Number three financial institutions will
Tokenize more than 10 billion in Off-chain Assets Now that is promising Brazil will emerge as one of the most Crypto friendly countries of the world And tokenize a portion of sovereign debt Offerings on blockchain well let me tell You now you guys know if you've been With me for a while I have spoken about Putting debt on The Ledger and I'm not Suggesting that this is obviously The Xrp Ledger I'm not saying it is but I've Talked about the idea of countries Putting debt on a blockchain or Distributed Ledger technology whatever Xrp Ledger and it doesn't mean it'll be For Brazil but Brazil does have a great Relationship for ripple so I'll watch it Closely to see what takes shape but to Me that is big long game picture of Where we're going Twitter will bolster Its payments offering with State money Licenses competing more directly with Venmo and cash app I do want to see that Competition is great A nation most Likely one dependent on oil exports Listen to this we'll announce it's Adding Bitcoin and other digital assets To its Sovereign wealth fund now how Would van Eck know that wink wink a Decentralized a new decentralized stable Coin will reach 1 billion in market cap They say They also believe that Ripple will lose The SEC lawsuit that's van X saying that
Not me right and they believe that and I'm going to go to that one in a second But Gary genzer will leave the SEC and We're all waiting for it as proposed Legislation fails to gain wide support Total web 3 money Gamers will rise from 2 million to 20 million as multiple AAA Games come to Market ethereum will Enable withdrawals from the beacon chain So we'll see if all those things happen I want to get down here as you guys do Too Ripple Labs has engaged in illegal Battle since 2020 He says Ripple has the support of many Large players in the industry including Coinbase blockchain Association the Support has increased with 12 Independent entities now offering legal Support to Ripple as well Both the SEC and ripple have called for Summary judgment from a federal judge in The case so a decision by end of q1 is Likely they say now this was December 2022 Unfortunately the crypto Bowls the SEC Won its lawsuit against blockchain-based Published company uh library in November The U.S District Judge in New Hampshire Writing noting that the case law Suggests that a token both consumptive And speculative use case cannot be sold As an investment contract with the case As precedent we lowered our probability Of a ripple Victory materially Ripple
CEO has said that crypto company will Move to another country if it loses Significant financial penalties Discouragement are also possible but I Want to say this that was December of 2022. let us not forget that it was a Completely different District Court that The library case happened let us not Forget that John Deaton intervene as a Friend to the court with an amicus brief Filing there and has had a massive Impact to highlight in dicta from that Judge that in fact uh uh that they they Cannot be a secondary Market cannot be Securities uh that is a very very Important thing that was not in this Right and then we have to remember this As well just days ago in the court Documents Ripple argued that a recent U.S Supreme Court ruling from Bittner Versus United States buttresses their Fair notice argument and this is another Matter that could extend don't like to Say it but could extend the time that This decision gets made on this case and It could be for very good reasons Because this case has been cited to Support the fair notice defense for Ripple so we shall see how this unfolds But it is not over yet but those are the Predictions from van Eck and we're going To watch them closely by the way a joint Study conducted by Ripple in the faster Payments Council estimate that more than
A half a billion of their surveyed Leaders of payment firms think most Merchants will accept cryptocurrencies As settlement methods within one to Three years years That's who's being sued by the SEC Ripple working with the Federal Reserve Faster payments Council No I'm not saying that to be dismissive Of the case I'm saying that to highlight The importance Of the case And before we get out of here ladies and Gentlemen this here from egg rag crypto Says we're going to get above a dollar 22 and these little inverted white Triangles that are Illustrated here There's our bull market line he shows us And the b-i-m-i is to break it or make It line which is where we happen to be Right here If we go lower we know we could go all The way down right so you know we got to Look at the up the dollar 22 and this is Once we get above dollar 22 Then you could talk about these higher Three-digit numbers like 184 dollars and Things of that nature but I'm reminded Too and I got a shout out to blockchain Backer who really says uh it highlights In his video that I saw recently that There you know the the chart Shows us that when xrp moves it doesn't Move big moves often but when it does
It's drastic when it happens and it's Very quick and I don't know if a dollar 22 is that quick move I don't know if 184 dollars is that quick move or if It's 10 cents But I tell you this We're getting to a place where I believe We're going to find out one way or Another Not Financial advice for me Edward Crypto or anyone else it's just my Digital perspectives I'll catch all of You on the next one