Hello this is Matt on the moon family Said Dan channel on demand liquidity Utilizing xrp as a bridge currency Shrank for I think the first time in History quarter over quarter and if That's not right for somebody just drop Out some to drop some Source information Below that's perfectly fine because Admittedly I'm pulling from recollection Here but I can't think of a time I've Ever seen a quarter of recorder On-demand liquidity shrinking in terms Of of transactions which is an Implication is it because adoption is Shrinking well there has been disruption And I will tell you here at the outside Of the video this actually uh isn't Something that I find particularly Alarming for a couple reasons that'll Get to Um and a lot of this it really just Stems from you know the mess that has Been Legacy banking in the first quarter Of this year uh also there's this Headline from the crypto basic Ripple CEO Shades us says he likes to focus on Positive and then there is also this Headline from coindesk uh grayscale CEO And expects decision on attempt to Overturn sec's ETF rejection by end of Q3 so Uh it's an inevitability at some point In the future there will be a spot Bitcoin ETF I think it's ridiculous that
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In 2023 it doesn't already exist but This may be another instance of the SEC Act and just experiencing a devastating Loss which I'm optimistic for so it's Just another legal happening and I I'm Tracking it and I'll keep giving you Updates as they occur but uh we're gonna This is a big year for legal stuff Happening with the SEC there's obviously The biggest news being the secv Ripple Case but this is another one this is Absolutely massive because you may Recall grayscale is actively suing the SEC because the SEC is For whatever the reasons are Absolutely making every attempt they can To devastate the entire crypto and Blockchain asset class But before going To be clear I do not have a financial Background of any kind I'm not offering Financial advice and you definitely Should not buy or sell anything because Of anything I say right I'm just an Enthusiast who enjoys making YouTube Videos about crypto related topics but Just as a hobby And just for fun all right so into this First piece having to do with uh some Brief comments from Ripple CEO Brad Garlinghouse uh Ripple CEO Brad Garland House has taken a swipe at the United States for being backward in Establishing new regulatory Frameworks
For cryptocurrency related activities in A tweet today garlinghouse said even Though the United States is moving Backward and establishing clear crypto Rules he is more focused on positive Events happening in other parts of the World and here's the uh verbatim tweet From Brad garlinghouse reads as follows The U.S may be moving backwards but I Like to focus on the positive in the Last few months the EU UK and UAE all Move forward with new regulatory Frameworks and regimes for crypto Activities read on in our markets report For more and then he links to the the First quarter xrp markets report which Ripple voluntarily puts out because they Are the most transparent company in all Of crypto and blockchain Etc And It's it's just so fascinating to see for The first time again on-demand liquidity Shrinking but there are reasons for this Uh and really again it has to do with The disruption in Legacy Finance it's It's not that there's some sort of loss Of customers not that's been publicly Articulated from Ripple now if you have Another quarter where it's down if There's not more banking catastrophe Well then I might start to scratch my Head a little But uh but take a look at this so here's The headline from uh from the crypto
Basic Ripple key one 2023 report shows On-demand liquidity thrived despite Banking crisis so thrived but that's the Way they characterize it still shrank But it does seem truly resilient so far As we know because again uh Ripple being A private company they are the most Transparent out there in all of crypto And blockchain but it's not that we're Going to know with any company even Publicly traded companies uh every Little bit of inner working I mean when Peach reads his files despite the Disruptive effects of the U.S banking Crisis Ripple's on-demand liquidity Solution exhibited robust growth in the First quarter of this year the recently Released q1 2023 report for the xrp Market disclosed that Ripple's total On-demand liquidity sales amounted to 2.93 billion dollars worth of xrp in This year's first quarter The report reveals a slight dip of 1.1 Percent from the previous quarter with Odl sales amounting to 2.93 billion Dollars in q12 2023 compared to 2.96 Billion in Q4 2022 the minimal drop Underscores on-demand liquidity's Resilience considering the impact of the U.S banking crisis on Ripple and I think That actually is a fair assessment so Because every you you know everything That was on fire like for the purposes Of this video I'm gonna assume that I
Don't have to go through everything that Happened with Silicon Valley Bank and Signature Bank and Credit Suisse and all That right I'll just assume that we're All caught up to speed on that because Otherwise that's been like another 10 Minutes setting the table for that one But just to understand that that's What's being referenced here uh now here Is Ripple's actual Cuban report and the Only part I decided that I wanted to Highlight for this video I had Specifically to do with uh their Comments regarding on-demand liquidity In particular you know in light of it Actually dropping which again to the Best of my knowledge is the first time Quarter over quarter we've seen a drop Um I don't know for that that for 100 100 certainty I just don't recall ever Seeing this before ever Uh but check this out here's what Ripple Wrote in their uh xrp markets report Uh bitso the leading crypto Exchange in Latin America Announced the last quarter it surpassed More than 3.3 billion dollars in Transactions between the US and Mexico In 2022 through its institutional crypto Solutions utilizing bitso's strategic Partners such as Ripple and its odl Product this partnership illustrates the Institutional use of cryptocurrency as a Cross-border payment solution and an
Example of the utility of blockchain and Crypto the big news of the quarter was The banking crisis and the negative Impact to crypto liquidity which also Led to some disruption to liquidity Available for on-demand liquidity though Customer flows recovered quickly odl Remains robust and continues to Serve Customer flow to facilitate cross-border Payments in a low-cost timely and Reliable method thanks to redundancy and Sustainability planning while there is No denying the industry is facing strong Headwinds Ripple continues to be laser Focused on minimizing the impact of the Banking crisis on our partners and Providing the best experience for its Customers and so it's important to Remember and I think this is just if Nothing more certainly a friendly Reminder that in terms of the what Appears to be the growth of on-demand Liquidity historically the underlying Economy on a global scale plays a major Role in that and I think this is an Excellent reminder of that it's it this Hasn't this isn't necessarily this Looking at this particular metric in and Of itself some sort of indication that There's a decline in either on-demand Liquidity adoption in terms of number of Customers or you know interest or Adoption in xrp specifically I don't see Any indication of that that'll be way
Too soon to assume something like that Given the disastrous you know quarter we Had first quarter in the world of Banking uh in hindsight looking upon This I'm like oh yeah I guess that's Actually not that surprising if anything It's kind of impressive that you know The the numbers were actually about flat From quarter to quarter so we'll keep an Eye on this now if a trend actually Develops and there you know there's not Some sort of disastrous economic Activity or banking activity that could Potentially cause it well then I might Start to say okay but that's it I don't I don't anticipate that uh I'm just Saying I'm gonna keep watching stuff no Matter what the data shows moving Forward because well I'm highly Interested I have a strong interest in Xrp and so I want to know all the ways Uh you know that are publicly disclosed In which developers are building on top Of the xrp Ledger and utilizing xrp Because I care about the entirety of the Ecosystem itself And then we have this from coindesk Grayscale CEO expects decision on Attempt to overturn sec's ETF rejection By end of Q3 now I would just love for Uh this to be a completely disastrous Year for the SEC which it could Potentially be you know because I think We'll see what happens but I'm
Optimistic that the SEC is going to get Their ass handed to him when it comes to The secb Ripple case and if we could Have that stunning defeat and then Follow that up with uh this lawsuit Having to do with grayscale and by the Way I love that grayscale is bringing The fight to the SEC because just Relentlessly the SEC has been turning Down every Bitcoin spot ETF that's ever Been brought to them and it just doesn't Make any damn sense we already have Futures markets out there what is the Material difference here okay come on it Seems completely disingenuous and that Goes hand in hand with the fact that you Can easily see the tremendous assault Against everything crypto by the SEC Anyway peace reads his files grayscale Expects to learn by the end of the third Quarter whether it will be allowed to Turn at 17.5 billion dollar grayscale Bitcoin trust gbtc for short into an Exchange traded fund The asset manager CEO Michael sun and Sheen said Wednesday at coindesks Consensus 2023 conference And I will note that uh the reason that This matters is because when you're Talking about an exchange traded fund it Would be traded on on traditional Legacy Exchanges like for instance could be NASDAQ a New York Stock Exchange So that would bring exposure to all
Sorts of people who maybe they're aware Of crypto like I don't want to set up a New account what's this coinbase thing But if it's just you plop down an ETF And then get exposure to crypto perhaps For the first time ever and you're Talking about some of the world's Largest exchanges out there well that's A big deal so now you get the exposure But The ETF actually has to hold Bitcoin Itself So you're taking so if it's being held There that means other people can't Purchase it and then you're increasing Exposure So there should be more demand that's The reason that all of it matters And there's no reason that you couldn't Have at some unknown point in the future An ETF that's specifically for xrp why Not But you need to get a foot in the door Just as a crypto Community here at Bitcoin first fine you know A more interested in xrp obviously but Bitcoin it's it's the name that's known It's the most adopted in terms of actual Money put into it so okay fine get Bitcoin in the door but I don't see why You couldn't have that for any other Cryptocurrency necessarily conceptually There's nothing that would stop that and Peace continues
The Securities and Exchange Commission Last year turned down the asset Manager's request to convert the biggest Bitcoin trust into an ETF The conversion could help grayscale Eliminate the infamous discount for the Product gbtc's market value is far below The actual value of all the Bitcoin it Holds grayscale which like coindesk is Owned by digital currency group then Sued the SEC over that decision and its CEO sun and Shing said Wednesday that he Anticipates a decision in that case by The end of September a quote where Eagerly anticipating a decision from the Courts between now and then end quote So and by the way um I just want to Bring this up too I need to read this Article but just as a reminder this is One of the reasons that I'm optimistic I Mean the headline says enough From March 7th of this year from decrypt Judges scrutinize SEC over denial of Grayscale Bitcoin ETF and I covered it All in detail at the time but I just Wanted to remind you that There's in so many cases this year where The judges are just looking at what the Hell the SEC is doing recognizing what Appears to be completely disingenuous Behavior Uh you know it doesn't look Like a faithful allegiance to the law That's the phrase that was used by judge Netburn in the secv Ripple case so
You know cautiously optimistic I'm just Gonna keep watching this thing here but I would just love to see stunning defeat After defeat for the SEC this year that Would be absolutely fantastic a lot of a Lot of big stuff is going to be Happening in the remainder of 2023. I'm Not a financial advisor you should not Buy or sell anything because of anything I say or right that would be a very very Very bad idea until next time to the Moon family sedan
