LIVE: XRP’s Regulatory Endgame: CLARITY Act Is Near Senate Deal – What It Means for XRP

[00:00:00]All right, good evening everybody. We've had a flurry of action this week when it comes to the Clarity Act. Uh we had a hearing that Republicans put on today.

[00:00:11]It was it was House Republicans. No Democrats showed up to that meeting, but uh President Trump met with senators yesterday. Uh we got a ton of like um uh news coverage and interviews today. I'm just going to go through kind of what we learned, what's to be expected next week. Uh, as well as we had the DTCC kick off their u um their event this this week on Wednesday, which which I covered in detail. Uh, that was around Canton Network and uh several institutions that kind of participated in the first ever kind of live uh blockchain transactions. And so um that was a big week for crypto and blockchain. I kind of felt like this is where we're moving from speculation to utility finally. Uh and we just got uh some information around Ripple getting their actual uh ESMA approved uh license to operate in Europe. It's all official now. It's on the website and just like a ton of other news stories that I'm going to cover with you guys. So, um I hope you're all doing well. Sorry I couldn't be here uh Tuesday. I just couldn't do it physically. I I wasn't able to. So, um, you know, just my my my body is asking more and more of me lately and, um, it's been difficult to kind of keep up with it. So, um, you know, I do appreciate, um, you guys kind of, uh, working with me on on the live streams and things like that. And, uh, I'll try to show up as much as I can to give you guys the updates and news. Let me just say hello to everyone before we get started. Peter O'Neal, great to see you.

[00:01:45]Stuart, what's up, man? Wayne, what's up, Wayne? Chippers, great to see you, man. How's it going? Uh, Michael, is it?

[00:01:53]Uh, oh, Michelle Kelly. Michelle, great to see you. Sorry about that. Robert Kidney, what's up, Robert? Great to see you. Great name. Love that. Love that.

[00:02:02]Paul, great to see you. Paul Walls, uh, man, Chipper, how you been, Chipper?

[00:02:07]It's been a while since I seen you, I think.

[00:02:10]See here, Gary Deodler, great to see you, Gary. I hope you're well.

[00:02:16]Rick, Rick Rue, thank you so much for being a member of the channel, Rick Chaos, good to see you, man. What's good? What's good, Todd? What's up, man?

[00:02:25]See who? Lax is here. Good to see you, LAX. Ariana, always good to see you, Ariana. Big Papa, XRP to 100 without clarity. I mean, even with clarity, XRP to 100, I think, is a tall order in the short term, man. you know, uh, you would need something like massive to happen for XRP to hit kind of those prices all of a sudden. You would need like billions of of sudden inflows into the asset class like like a lot of money really quickly to come into XRP.

[00:02:54]You might you it might happen. I mean, I'm not saying it can happen, but uh the likelihood of it happening in a short window, you know, probability is low, I would say. Uh, I mean, you're still like, no matter kind of what you hear on on other channels and crypto and regulation, it's still a very slow process. And even if the US is able to pass the Clarity Act, it could, you know, you'll get a sudden rush maybe of people coming in and buying, but it'll still take a while for those rules to be implemented from from securities regulators. And that could, you know, that could take 12 months, 18 months. it could be a little bit of time before you see movement. Uh but I mean you are seeing like Japan move forward with with uh they passed in kind of what is the Japan Senate uh on Wednesday they also move forward with uh their kind of version of crypto regulation and you know there are places that are moving forward without the United States and so we can have like a separate conversation about that but um Charles what's up thank you so much I really appreciate you Charles thank you man you know you guys you guys make the channel so I really really appreciate you MJM, give us some good stuff, Sensei. Always, man.

[00:04:10]Always. Uh, whoa. Rule Splasher. Great to see you. How you doing? That's a pretty cool name. How we doing?

[00:04:20]Some weird guy. I like the name. I like the name. What's up from Aahu? Dreamer.

[00:04:25]Dreamer. Good to see you. Nice weather we've had. Actually, I can see out from my window. It's really beautiful outside.

[00:04:32]Uh.

[00:04:36]how ETH goes from two bucks to a,000 bucks.

[00:04:39]I hope XRP does. You know, it's it's about supply and demand, right? There's a lot less ETH in supply than there is XRP, but I I hear you. I think we're all hoping for a higher XRP price, and we'll we'll uh we'll hopefully get there sooner or later. John, good to see you.

[00:04:55]Rich, what's up, dude? Good to see you, man. All right, let's jump in. Japan ETFs are promising, but $100, I would love to see it. Japan ETFs probably won't happen until in 2027 though, right? Because because most of their their legislation stuff won't happen uh like enacted until the end of this year or some of it's even later like 28. Um but you probably will see ETFs out of Japan in 27.

[00:05:20]We looked this up last time. Somebody said something about it. I think it was Kame that said something about it and we looked it up. All right, but let's just jump in. I know we're we all want to know what's going on with Clarity Act. I am I do want to start actually you know what let me let me start somewhere else.

[00:05:34]I you know we got to cover what happened with the DTCC because that was that was really big you know and I know not everybody kind of maybe felt like that was a big thing for the crypto market but I think it was really it was really big. Oh man. Then there was like the US UK um uh transatlantic partnership news too and the Swift news. Oh my god. All right. So it's been a week since I've seen you. So, all of this stuff piled up over the last uh over the last six days and I just kept saving it. So, bear with me. I'm going to catch you up on some stuff here. All right. Um, God, where to start here? Okay, let's just start here. Um, over the last few days, this was uh about 4 days ago, there was u a new UK government tokenization task force that was uh pulled together focusing on tokenized repo and other use cases. And this involves Black Rockck, Goldman Sachs, JP Morgan, Morgan Stanley, Coinbase, Ripple Circle, and so many more. This is actually a really big deal. Um, and Ripple is already kind of focused on repo uh with DBS, Franklin Templeton, and BNY. So, uh, they're kind of perfect for the job. And I think this is going to be, uh, you know, you're going to see more partnerships and more things announced out of here, out of the UK, uh, maybe over the next six months. But onchain funds, bonds, and repo aren't experiments. They're already happening.

[00:06:58]Delivering onchain financial instruments that are cheaper, better, faster than legacy equivalents. The UK has capital markets depth and regulatory credibility to be a global leader in tokenized wholesale markets, delivering up to 33 billion in annual economic output. So, I want to be clear, this is how much they're expected to kind of uh grow their economy. 33 billion. This is not what's going to be expected to be, you know, to move. It's like it's an 80 possibly an 88 trillion dollar market by 2035. Um, but the UK is expecting a ton of growth uh as they're moving towards blockchain rails. And so that's why we're proud to support HM Treasury wholesale digital market task force. And so this is actually pretty interesting because Ripple has actually been working with the US and the UK for quite some time on this transatlantic partnership.

[00:07:48]You guys remember back? Um, oh, where was it? Let me see. Do I have that? I think I do. Hold on. Did I bring it into this one? I think I did. Hold on. Let me just see if I have it. Yes. You remember this, right? Uh, we covered this. God, this was September 2025. And this is Cassie Crotic, who's the managing director of UK and Europe for Ripple.

[00:08:10]And this is the 10 Downing Street. And so Cassie Kronic, managing director of UK Ripple, uh Ripple is well placed to leverage its strategic transatlantic footprint to further drive US UK tech innovation. So there's there's so much stuff happening in the background here and um you know Ripple's been involved.

[00:08:27]There was also this the US and UK released a 10point roadmap to coordinate oversight of tokenized assets, stable coins, and digital finance. So man, this has been a very very busy week. Um let me switch to the Swift stuff. If you guys want any additional details on all this stuff, I I mean like I every every like if you look at the date here of when some of this stuff came out, uh you just look at the same date of when this when this came out or the day after, you're going to see a bunch of my content where I covered these stories in detail. So, just want to make sure you guys understand that. All right, I do need to cover what happened with Swift really quickly. Uh because that was that was a big deal and there was a lot of maybe confusion in the XRP space about the technology and things like that. Um, but there was a great interview uh by Crypto in America and this is the former innovation head of Swift, Tom Zastn, and he, you know, he's not a, you know, I wouldn't call him the XRP community's favorite person. He often, you know, clashes with people in the XRP community. I don't think he's like doing it to be nefarious. I think he's just trying to set set the record straight that Swift, the institutional side of Swift doesn't really have plans around XRP. It's more of the Swift partner banks that would use the infrastructure.

[00:09:43]So, let me play this really quickly. um you know the narrative was that Ripple specifically was going to replace Swift and you and I have talked about this at our various meetings at crypto conferences but you know why do you think that narrative caught on and you know from where I sit and how you've described it and and when I look at Ripple and what they do now it seems like they were never really trying to solve for the same problem. So why do you think that was such a prevalent narrative among that community?

[00:10:11]>> I I'm not entirely sure. Um, I mean, I think I think it's a it's a valid strategy to kind of go for the go for the the the visible target um that people know. Go for number one, right?

[00:10:23]And if you don't make it quite there, but you make it number three, you still have a substantial business. Um, uh, but I also think that, you know, a lot of these companies have really evolved as well, right? You look what Ripple's done with with acquisitions and issuing a stable coin, everything else. It's very different than it was in 2017 2018 and it looks like they're building a you know pretty robust business. Um not only you know well beyond just kind of the network but but issuing assets and getting to prime brokerage and treasury services and everything else. So um I mean look I I like to see that kind of innovation. I I think the competition the challenge is good. I would hate to be in a in a in a company or a service where nobody challenged you and you're just kind of the incumbent and everybody just kind of let it be. I don't think that's I think you need competition. I think you need people to challenge your ideas. I think you need people to push you. Not just in finance. I mean, I think we see that in AI now, right? You need that challenge. You need somebody pushing you. You need, you know, if you're the only one, that's just not a good, you know, incentive plan. That's not a really good outcome. There's not a history of good outcomes out of those kind of things, right? So, I I think I think those are are fine. And and look, some people are more aggressive than others. Um, I don't take any of this personally. One of the reasons I think, you know, people um uh listen to what I say and read what I I write is because I kind of cut through the hype. And >> all right. Um and then I I did want to uh show you this. I thought this was a great great clip by Coach JV. I'm not going to play the full three minutes, but the first like minute and a half, I think, really speaks to the moment we're in. And people really need to realize that that, you know, we're all just trying to figure this out ourselves. and nobody really has a crystal ball or direct connection to uh global adoption of the crypto market.

[00:12:01]>> I'm about to trigger a lot of people in the XRP community. I hate to be the bearer of bad news, but I just want to let you know that there's no influencer, not one, that has the inside scoop on who's doing what or who's using what. We can argue back and forth all day. You can pull articles from the internet, connect your logic, create any story or narrative you want. That's what I do.

[00:12:22]I'm using logical circuit. I logically believe that XRP won't be the only one, but I believe based on my logic and investment thesis that XRP, Bitcoin, and Salana, my top three holdings, will be huge parts of the financial system. Not the only parts, huge parts. So, my advice and my message is to those who are making investment decisions and emotional decisions based on all the [ __ ] going back and forth on X and Instagram and Tik Tok. Trust me on this.

[00:12:54]There is not one influencer that is being told what's happening behind the scenes. Not one. There's layers to this game. Can say they have secret information. That's called Grock. It's called ChatGBT. It's called Google.

[00:13:09]We're all doing the best we can with the information we have.

[00:13:12]>> All right. Fair enough. uh you know I always hear that so and so has inside information and uh that clip just really kind of spoke to the moment because I mean I can't tell you how many people have told me this person said Swift's new new infrastructure is built on XRP technology that was wrong and then the DTCC going live is going to pump XRP that that was also wrong so I think we just need to understand that we're all trying to figure this out we all have access to similar information and not one person is ever going to know what's happening or have have the inside track as you would say. All right. Um, let me shift gears here. Somebody was bringing up Japan. I think that was Wayne talking about what's going on in Japan. So, let's just cover that really quickly.

[00:13:57]Crypto is now uh is now officially financial assets under Japanese law, not payments tokens, not a gray area. Real financial assets, regulated like securities, new insider trading rules, real disclosure requirements, and exchanges getting a serious upgrade. So, if you're not familiar, Japan has has essentially moved crypto out of the payments and speculative toy bucket and into the same legal bucket as stocks and bonds, which is huge for legitimacy, investor protection, taxation, and eventually institutional products like ETFs. And so, crypto assets are being class reclassified as payment tools under the payment services act and financial instruments and financial products under the financial instruments exchange act, the FIA. That means the same regime that governs equities and bonds, disclosure rules, market abuse rules, licensing and supervisions now applies to major crypto assets. The implementation is staged here um to uh to basically roll out this framework out of parliament uh in 2027. So a lot of things happening in Japan with crypto and we should start seeing more and more announcements around that come you know end of the year early next year. All right, Tyler, what's up, man? Good to see you.

[00:15:16]How's it going? How's it going?

[00:15:19]I think Japan sees what the US is doing and understands how important blockchain technology is. I was reading something earlier. I can't remember. I was putting some content together um and it was talking about Japan as as far as like the last few years has done more upgrades for crypto and blockchain than than all of the um all of the G7 combined or something. Ah I I'm trying to remember where I saw this, but I'm going to put together a video once I once I track that down. Did I bookmark it? Hold on.

[00:15:51]I tend to bookmark stuff when I'm when I'm trying to build content and I see something that might be worth saving.

[00:15:57]Sometimes I bookmark it.

[00:16:01]No, I didn't bookmark it. Shoots.

[00:16:04]All right. Oh, yeah. You also had Robin ch Robin Hood chain that's been popping off, too. Um Robin Hood says it's an opportunity insight. Robin Hood app says its opportunity isn't taking volume from cryptonnative traders. Instead, the firm is betting its 10 million plus active users can bring a new wave of investors onchain through tokenized assets, commodities, FX markets, and crypto perpetuals. Man, uh, Robin Hood is making some pretty big moves here. And, uh, we've been kind of keeping track of this the last maybe 12 months, and their CEO is extremely bullish on on blockchain infrastructure. Um, and uh, I'd imagine you're going to see a lot out of Robin Hood over the next maybe um, you know, three to six months.

[00:16:49]There's going to be a lot of announcements. All right, let me transition you to Man, there's just so many things to kind of talk about here. All right, I do want to talk about what's going on with clarity really quickly because I think that's very important for people to understand. All right. Um, Robert, watch the zeros from Japan.

[00:17:13]Watch the zeros from Japan. If the reverse carry trade doesn't work for them, I we've been hearing about the reverse carry trade for how long?

[00:17:31]Yeah, I I don't even know if it's worth talking about at this point. uh you know uh no you know let's just uh we'll just skip that. We'll skip that all together.

[00:17:46]All right.

[00:17:48]Uh need to be careful what I say there. You know I don't want to I don't want to get sued or anything like that. So just got to be careful.

[00:17:58]I keep getting scam friend requests from that guy. Yeah, you got to be careful.

[00:18:02]There's a so like there's a lot of there's a lot of scam scams on X where people pretend to um you know they'll they'll copy creator accounts you know uh maybe mine or I mean pretty much any content creator that has a decent following you're going to have like fake accounts and then you can basically see um you know they they'll have like smaller uh followers usually but they'll they'll be posting and responding sounding like they are trying to impersonate those people. So, you just got to be careful not to ever engage uh with with accounts, right? And if you if you think you're engaging with the content creator that you're following, ask yourself like in the moment say, "Is this really the person, right? And how can I verify or check that this is the person?" And probably don't ask if they are the real person because obviously they're going to say, "Yes, I'm the real person." Um, but just you can always look up uh using AI or Google what the what the real person's social medias should be and then you could like check, you know, account to account to see. Um, very rarely is someone going to DM you out of the blue and and talk to you about crypto randomly. So, just make sure you guys keep yourself safe. All right.

[00:19:24]Yeah. I mean, you know, I got to be I got to be careful, right? I got to be on my best behavior because, you know, don't want the big bad wolf showing up.

[00:19:33]Got to be careful.

[00:19:36]Yeah. I I you know, I wish there was something that they would do like uh you know, we actively report the the the accounts that that try to copy. Um but there there are some content creators that don't do anything about it. So, you know, you you just really got to be careful. I've been trying to point like this stuff out almost not almost not every show but we we we talk about it a lot man you know um want to keep people safe that's the really important part all right let's talk about clarity because I know that's what's on everybody's mind and and that's really the biggest piece of news that you know although like we had the DTCC we had the swift we have the Ripple USUK transatlantic I mean there's a busy week this week right I am tired it's Friday and I think I made like I don't 20some videos this week. It's been a jam-packed week of of really cool stuff.

[00:20:26]Um, and the crypto market is moving forward at at full speed right now.

[00:20:30]Like, don't get me wrong, you don't see it really in pricing, but believe me, the underlying infrastructure is moving pretty quickly behind the scenes. So, um, let's get into the clarity act here.

[00:20:41]Let's hear. Todd, any thoughts on what would likely happen should the stock market crash? I mean, do you feel that crypto would would go would follow or go in the same direction or am I talking mainly about coins with the utility? So Todd, listen, um, nobody has a crystal ball and there has been a lot of analysts that have said that the stock market is overbought, that, you know, it's an AI bubble. Um, you know, obviously it would be it would be in your best interest to talk with your financial adviser. Usually, if you have a brokerage account and you have stock somewhere, you have somebody helping you with that, right? Um, talk with them, you know, get their advice on on what you should do and how you can maybe protect yourself in case something should happen. Um, if you're asking if the stock market crashes, could the crypto market crash with it? Yeah. I mean, you know, usually panic when somebody panics doesn't just happen in one market or another market. It could be like the stock market is crashing and people go to crypto for for safety, right? Like that could also happen too.

[00:21:47]And and recently the the crypto market's been dead because everybody has been investing in stocks and so if that were kind of to reverse, it could actually have a positive thing for crypto. But it, you know, it it could also go the other way, too. It's really hard to know, Todd. Um, but you know, regardless of the ups and downs, you know, I I feel comfortable where the market is heading.

[00:22:12]I would obviously like to see higher prices and I do think eventually we're going to see those. Uh whether that's in a ne in the next week or next month or at the end of the year or we have to wait even longer. I I I really don't know, man. Like um I don't think anybody can tell you when the market is going to turn around. People can look at the four-year cycles and the previous years of when the market started to turn around. Usually I've seen a lot of people talk about October timelines, but I do think with the Clarity Act stuff happening, you should be able to get some type of momentum if that passes.

[00:22:44]So, um I've seen some analysts say that the market could start turning around if if if we get positive news clarity act wise. So, really hard really hard to know, man.

[00:22:58]You always get Wendyo. Is that is that right? I mean, you know, that makes sense. Uh, crypto is what uh a large a large portion of people that in crypto are are male and you you would think that uh female content creators that they probably get um you know, copied maybe even more than than male creators do. That that makes total sense to me.

[00:23:27]Sensei, we can get the ball rolling with exemptive relief if the Clarity Act falls short. So, so the regulators, the head of the SEC and the head of the CFTC have already said if Congress doesn't get like if they're not able to pass clarity that we'll do it for them, right? But obviously, they're just going to do what you're saying here is give the give the market the necessary uh language that they could move forward. But there's always a possibility of the next administration reversing everything that they've done.

[00:24:01]So yeah, regardless, I do think you're you're going to get uh you know, things to move forward on a on a larger scale, but obviously getting the bill signed is the the ultimate moment that we that we want to get to.

[00:24:18]All right, guys. We got 400 people watching. Make sure you guys uh like, comment, subscribe. It's nice and even.

[00:24:23]Look at that. 199 on X, 202 on YouTube.

[00:24:26]You guys are man, you guys are awesome.

[00:24:29]Uh, kindly give me your seed phrases.

[00:24:31]Yeah. See, like, you know, some people will be like, "Sure." You know, here's my 12 words. Make sure you get the spelling right. I don't know. Some people are very trustworthy, you know, and and some people just don't know, you know, if you're not if you haven't been in crypto a long time and you don't know what to look out for, you know, like there's a large part of people that have been scammed and it it's it's so sad and it's unfortunate, but like this is maybe what regulation will help solve somewhat. uh you know it's not going to solve everything because you're never going to be able to stop you know illegal activity especially because it can happen anywhere u but it would it would definitely help move move us forward let's see here morning from Australia Jason what's up man hello sensei ara I watched an interview with lady with a lady thinks she is the boss of Ripple UK so Cassie Croic is who you're talking about in the interview she said that Ripple won't put the ledger full speed until clarity. So, um, Ripple has clarity in the UK. So, you're probably talking about this woman. Hold on, let me just, uh, let me pull this up real quick. You're talking about Cassie Crotic, who I showed at the beginning of this. Where is that? Yeah, you're talking about this lady.

[00:25:49]This is Cassie Croic. And, um, you can go Cassie Croic. This is her. This is her account. She's the uh UK CEO and managing director of Europe. The reason I said that, you know, you're good to go in Europe. Um, let me see. Let me see.

[00:26:06]Do I have the video? I was just building another video about what's going on in Europe. And that's actually going to come out in the morning time, but let me see. Hold on. Too many windows open.

[00:26:17]Sorry about that. Give me one second.

[00:26:19]All right. Here it is. Here it is. Here it is. So, um, let me load some content here for you really quickly to just talk about this and then we'll get into clarity.

[00:26:28]Uh, hold on. I wasn't I wasn't actually going to talk about this, but I will um I will show you a little bit of stuff.

[00:26:41]Yeah, I don't I don't want to spend too much time on this, but um here you go.

[00:26:44]So uh today we uh Ripple Ripple payments was added to the ESMA uh the Europe it's Mika register and so you can actually see right here Ripple payments so Ripple is fully licensed to operate in Europe right now right so regulation obviously in the United States we're still working towards that but places like the EU uh have already enacted their regulations so they're they don't have to wait for anything they can do what they want. And so Ripple and their full payment stack is is fully licensed to operate in the EU right now. That's why in previous sessions I've said that you'll probably get some announcements out of the EU over the next few months to do with Ripple and new partnerships. I would imagine that they've been working on this stuff for quite some time and now that they're fully licensed, uh I would imagine you'll see some action happening. Uh there's 294 total companies that are licensed. um in the in the EU out of a few thousand though out of like 3,000 there's only like 300 and so it's 10%. So there's a lot of lot of companies blockchain companies that can't operate right now because they don't have the licensing but Ripple is one of those that that can and will move move forward.

[00:28:04]Yeah, Robin Hood chains man is been popping off like you always look for the next big thing in crypto, right? the next the next like movement and you have seen a lot of uh a lot of things happening now. You got to be careful though, right? Like one of the first I think meme coins on Robin Hood was Cash Cat and that went up to like 200 million very quickly and I think it's down to like 60 million, right? And so you just you got to be so careful in the market.

[00:28:31]you you know if you if you don't kind of catch the hype before it happens or as it's happening you you know and you kind of get in there a little bit late you're just going to get dumped on. So you know take a deep breath you know you got to ask yourself am I early right or or or am I late and uh if you're late be careful.

[00:28:57]Yeah. Yeah. So uh just just call me Vince. Vince is like, "I know Wendy O is not coming to talk to me. That's so funny." Hey, um you know, I I see her shorts pop up all the time. You know, she does a she does a great job. And uh you know, I I can see why people uh would person impersonate her, right? Um you know, there there's a lot of uh female content creators in the crypto space. I mean, there's not as many male obviously, but um there's not as many that um show their face, you know, and and actually have a public persona and um she's one of them. So, obviously, she would definitely be um copied.

[00:29:37]Yeah, scammers are a little exhausting.

[00:29:39]They really are. All right, let's get into clarity. Let's do it. Let's do it.

[00:29:42]Let's do it. Okay, so um what happened over the last few days? Okay, so we've had a flurry of updates. President Trump yesterday met with senators about ethics and a few other things. We really didn't get an update on what happened in that meeting though. If you noticed today, I didn't see anybody talking about uh about um the meeting and what happened inside of the meeting. Um, all I know is when I look at like the poly markets of the world, um, you know, this thing, this thing was at 46% and then the the meeting happened and it went down to like 31%.

[00:30:22]And then then it came back up and then it's back down and then it came back up.

[00:30:26]I mean, this thing is just exhausting and people don't really know what they want to do. Um, but I can tell you that Democrats are still on the ethics side of things. They want to see some provisions put in there about any person in office. It's not just about the president. And we haven't seen the new text. There was supposed to be the text.

[00:30:48]The new text was supposed to be released on Thursday. That didn't happen. We are supposed to get the text today. I didn't see it yet. Um, and you know when will it happen? Now, we've also heard that like French Hill was on Fox News the like yesterday or today and he said that um the the Senate majority leader, I think it's Thun uh is or is it is it Thoon or Tillis? I think it's Thun. Um he's going to schedule a vote or the vote is already been scheduled. We just don't know it yet. Let me see if I have that clip to show you.

[00:31:23]Well, I can find it. Hold on. Because I just I just built this content really quickly. Hold on.

[00:31:33]Congressman. Okay, let me pull it up.

[00:31:36]Congressman history. Close windows.

[00:31:41]No.

[00:31:43]Yep.

[00:31:48]All right. Hold on. I might need to I might need to search it. I might have I might have closed out the window.

[00:31:57]Hold on.

[00:31:58]Um, Fox Fox News clarity. It was French Hill, so I should be able to find it.

[00:32:10]Why do they make it so difficult? It should be at the top here. That's what I I don't love about X. When you search something on X Oh, here it is. Here it is. Oh, that's June 5th. No, hold on.

[00:32:23]Robin Hood Coin Bureau Clarity Act.

[00:32:29]I found it. All right. Here. Here. This is what I'm talking about to commemorate that one-year anniversary of passing clarity with 78 Democratic votes last summer. I want to commend Senator Senator Lamus, Senator Scott, and many others on both sides of the aisle that have been trying to get clarity through the Senate. I think we're on the cusp of doing that. This is, as Cynthia said, a key time. I'm so pleased John Thun, the leader in the Senate, has set a date to bring this bill to the floor. We've done four years of work on this. I'm so pleased >> right here. Thon set a date to bring it to the floor.

[00:33:08]>> Pleased John Thun, the leader in the Senate, has set a date to bring this bill to the floor. We've done four years of work on this under the leadership of former chairman Patrick Mckenry. Brian Style, who you just had on, has done a marvelous job this Congress. And it's time to close the deal. We need to get clarity in place because of a key point I always make. If you have genius and dollarback stable coins, which we have, signed into law by President Trump last July, but you do not have a market framework, market structure bill, then you have like passed the authorization to have a cell phone, but no cell network. There's no ecosystem to support the use of that cell phone. So that's what I think that is so critical that we get the companion legislation framework legislation completed to be married then to the implementation of genius for dollar back stable.

[00:33:58]>> All right. So it feels like something's going to happen there. Um we're just waiting but we should get a we should get an announcement any time now about like when they're going to bring it to the floor. Like what's the day?

[00:34:15]Let me see here. curious how many of these dems would make money if clarity passes. My guess it will probably pass.

[00:34:21]It's not it's not about them making money. Um you know uh very few have like personal investment like I it all right so it's hard to know exactly where everybody's positioned. They all have to give like disclosures of what they're invested in and how much. There's very few people in Congress that own crypto.

[00:34:44]Uh it's it's a smaller number than than people that that don't own. Um and so you know I think there's like I I think it was Christian Gillibbrand. I think it was like her son that was engaged or going to um is it Gillibrand? I think it's Gillibrand. But uh it was her son that is trying to got an investment from Chris Larson. Um I mean there's very few that that are engaged in it. Um, I mean, the only person making substantial money on crypto I is President Trump. Like, you know, over it was like 1.3 billion last year, which is a lot of money. And like, this is why the whole thing is is happening. But it's frustrating that Democrats use President Trump's how much money he's made in crypto to like prevent the Clarity Act. It it shouldn't Yes, we can have a conversation. Should he be making this much money while in office while promoting, you know, his crypto brands and things like that?

[00:35:41]That's like a side question. We like we should have a sidebar on that. Um, but you got to pass the innovation for the country because it'll create jobs. It'll create taxes. And if America wants to be a leader in this innovation race, we're already behind. and not getting it done would take all the momentum out of out of all of the hard work in the past year. You got to imagine there's been thousands of hours by senators and their their their families and their staff and and all of these meetings, the White House, the the crypto uh companies, uh the banks that have been involved. Um it's it's staggering how much time has been spent on this bill, more than any other bill, uh this Congress. and um not getting uh not getting it over the finish line, I think, would be uh it would it would be an epic uh an epic failure, you know, and it would be on both parties. You can't just blame the Democrats. Uh it really will fall on the shoulders of of both parties and um they have to find a deal. They have to find a deal.

[00:36:55]Let's see here. I saw a video about China's central bank XRP XLM and Swift competitor. Are you talking about Mbridge? They moved like 55 billion in crossber payments in 6 months. So that's that's also what the Senate is panicking right now. Yes, if I agree with you that if the United States isn't able to lead uh countries like China will. Yes. And you know, if you're from China, that's a great thing. If you're from the United States, you know, you probably don't want to see China leading uh with with crypto and blockchain. But China did overtake the United States as far as patents go for blockchain technology.

[00:37:38]And that was like like two weeks ago. Um you know, what what are we going to do here?

[00:37:51]So, no s news on the box with talking heads. Yeah. I mean, it's it's a little exhausting watching all of these interviews and like the same thing that we're just going around and around and around. It's the same fight. It's the same issue for the past six six months, right? Uh we we first kind of heard about this kind of towards the end of uh end of the year 2025 and it's just gotten louder and louder and louder, right? I think the distraction was the stable coin yield fight, but really the distraction is the uh the ethics fight.

[00:38:30]How much do you think are banks are paying? Like banks are paying to prevent the Clarity Act. Is that is that what you're saying saying, Stuart? I just want to make sure I understand, you know, what what you're saying before I try to uh jump in there.

[00:38:45]I think banks can save a lot of money.

[00:38:48]Uh you know, JP Morgan had the best like the best year it's ever had. You know, and you know, that might it's probably not all to do with blockchain, but they're making paper uh and you know, they're having all kinds of uh parties and bonuses, I'd imagine.

[00:39:10]Corey says, "I wouldn't worry about who makes money. We're all Americans and we should be able to make money. Pass the damn act." Oo, I love that. It's passion. It's fury. Yes.

[00:39:22]Super copper. If the Senate passes the Revised Clarity Act, how long would before the House voted? So, so great point here by Super Cooper Magic. Um because and what he's talking about here is because the Senate has made so many changes to the House version of the Clarity Act, the House has to take that version and say, okay, um yeah, I guess we'll, you know, we will repass this. Um and that's still a conversation that's that has to happen, right? And so what you need first is you need the new text.

[00:40:00]You need everybody to understand what's in the new text. you need the Senate to pass it. And if that happens, then the Senate goes to uh the House to try to reconcile the bill to try to find the common ground so the House can repass the bill and then it would go to President Trump's desk. Great point.

[00:40:22]So, Country Living says, "I personally believe most of them use their office to promote their own personal finance gain.

[00:40:27]I really doubt that any of them do very little for the country and that many of them will get personal gain. I think that is what a lot of people feel like country. I think I think you're expressing frustration that the system feels broken. I think you're expressing uh uh you know when we when you take a look at all the special interest groups and how much money is being made and how much money are put into campaigns and how some of these votes don't appear to be what's best for the people. I 100% understand where you're coming from and I I would agree with what you're saying here that um you know money has kind of spoiled and and kind of rotten some of the system that we now rely on to you know pass laws in this country and I think that's a whole separate conversation about how do we fix that broken system because you know every party says you know the the system is broken we're going to go in and fix the system. And administration after administration after administration, nothing changes, right? The the swamp is still the swamp.

[00:41:38]And so, what is it going to take to change it?

[00:41:42]Who will change it? And how long do we have to be in this system? I guess that's probably uh the stronger questions.

[00:41:52]But thank you for sharing that. All right. Hold hold my breath. Snow snowsar.

[00:41:58]Can Trump just agree not to launch crypto investments for two years? That seems so simple. In 24 months, he can give his kids and let it go crazy and it would be totally legal. I can't blame the Dems on this one. I think that is a very reasonable statement. I I absolutely agree with what you're saying here. Um, you already made 600 million on the memecoin. That's probably not going to come back, right? I don't see people wanting to go back and invest in that. So, we can kind of put that on the shelf. Separate yourself from World Liberty Financial, you know. Uh I I think see the the there's a larger question here of who if if somebody's in Congress in the Senate or the White House, right? How many layers deep does it go about the connections to have to towards blockchain and crypto? Does it go to the person in office and their spouse, their wife or their husband? Or does it go to their kids, right? Does does it go down a layer? Or does it go even deeper than that? I like you can't really go deeper than that, right? I I I saw on Fox News someone said something about business associates, right? Like you want they can't they don't want your kids and your business associates, you know? Like that's impossible to to cover business associates. But like I don't even think kids is fair. I think it just needs to go from the person and the spouse. Um, I think that's as far as that probably should extend. Like you shouldn't your kids shouldn't be punished for, you know, living their own life and and doing their own thing. Yes, there's a lot of like tanglement in Trump's family, but like, you know, we're just looking at one case and we're we're making a sole decision on that one thing. Um, I would say that he could step back from his involvement in crypto and just let his kids run it. And I think that would be a fair compromise. I think it really would. Um, and that's that's what I hope happens. Now, what what we hope and what we want often doesn't happen. Um, but I think what you're saying, a lot of people feel the same way you do. And I I get it, you know, and and let's see. Let's see what he decides to do because this is his signature promise. If they're able to get it through the Senate and if they're able to pass it in the House and if they're able to get it to his desk, is he really not going to sign it? You know, hard to say, man.

[00:44:26]Uh, so OSW says China won't do anything without the US. And the same goes for Russia. What you don't realize is that behind the scenes, they all make decisions together, not separately.

[00:44:40]I don't know. I'm I'm going to have to I'm going to have to put in that uh I'm gonna have to put this in the the strongly, you know, disagree box. I think every country is trying to do their own thing. And you know, you you might you might say this is true on some matters, but not all matters, right?

[00:44:57]Like the US isn't involved with what's going on in certain cities and and certain provinces in China. Like, you know, who's got the time to do that? Um, but I think that maybe the bigger global decisions um you know, that's a very complicated thing.

[00:45:18]Uh I do need to thank Snow for the donation. I I greatly appreciate it.

[00:45:21]Donations go to my dog Luna. We buy her some nice treats and anything left over, you know, uh I'll use to buy more uh green green tea.

[00:45:31]So, thank you so much.

[00:45:34]All right, I do have more to show you.

[00:45:37]So, it says, "I'm from Australia. Not sure about the US rules. How many politicians will bring their own meme coins out and help their campaigns in the midterms?"

[00:45:47]I don't know, man.

[00:45:49]I I think Trump's the only one. Uh I I have not heard of another Congress person or Senate person on either side of the aisle launching their own meme coins and promoting them. Yeah, we have some we're living in a very interesting time here, you know, and um you know, there there's there's people on both sides of this argument that are very passionate about how they feel. Me personally, you know, once you get elected office and you're, you know, you're being paid by taxpayers, probably shouldn't be able to use that office to make billion dollars, right? Like that's a that's a that's that's a little too far in my book. Um, you know, where's the separation? Um, but people people say that, you know, people have made the argument that he launched the memecoin two days before he got into office. And because he he launched it 2 days before that, you know, it shouldn't matter. But most of the money that he made on the coin happened while he was in office because it was trading fees uh for the token, right? So it the US is a very interesting place right now and um you know I would imagine and and this is just me you know foreshadowing some of this stuff feels a little you know and I'd imagine there's going to be some type of investigations and uh you know I mean you had you had the teleprompter guy Trump's teleprompter guy was betting on prediction markets about what was going to be in the speech, right? So, there's some weird stuff going on there. And, you know, pro some of that probably shouldn't be happening. I think if it if if we weren't in this position and we didn't have all these very strange occurrences that we we probably wouldn't even be having this conversation and clarity would have already been done, you know, three months ago or six months ago. And it's just frustrating that we're in this position now. And um yeah, will the new text be released today, start to be reviewed by the house?

[00:48:02]That's that's we're waiting for the new text. Super. Um I haven't seen anything.

[00:48:07]I was I was been I I put together five videos today. I've been up since 5 in the morning. This is now about 3 in the afternoon. I haven't seen anything about uh about the new text. I made I think two or three videos on Clarity Act today. Like I covered the um uh the hearing that was done by the Republican uh House members. Uh I was frustrated to not see any Democrats there. Um but uh yeah, I didn't see anything yet, man.

[00:48:34]We can take a look here, though. Let's see if there's anything updated.

[00:48:38]We'll look together here. So, we'll just look clarity act.

[00:48:48]Oh, here's a CNBC cla report here. Let's just >> Okay. Super awesome. Love that. Love it when there's no uh Wait, is that the clip that doesn't work? Hold on. Oh, here. Here. I got one here. Let's play this.

[00:49:07]>> Hey, Carl. Well, yeah. Look, Senate leadership, they really want to have a vote on this rules of the road crypto bill in the next few weeks before they break for their August recess. Big question right now whether they're going to be able to get enough Democratic support to pass and that is increasingly hinging on whether the bill is going to put in place some strict limits on the president's ability to profit from crypto. Now, Democrats, they've been pushing for this ethics language for months, but it's become even more pressing just in the last few weeks when President Trump's financial disclosures showed him making roughly 1.2 2 billion from cryptoreated ventures alone during his first year in office. Spoke yesterday with Senator Mark Warner. He supports the goals of the broader bill, but he said that it is critical for lawmakers to limit the ability for elected officials, including the president, to profit from crypto.

[00:49:52]>> President has made billions in his family off of this. We're going to suddenly go forward and say, you know, and elected officials can take advantage of that situation going forward. I think that would be pretty outrageous. Senator Bernie Moreno, who met with Trump yesterday on the bill, said it would prevent any elected official, including the president, from issuing or promoting a digital asset, although it would not apply that restriction to other members of the family, including, of course, Trump's family. Now, lawmakers are still negotiating over the language of the bill. An updated draft was expected this week, but has yet to be made public. And of course, guys, as we know, the devil's always in the details. So, we're keeping a close eye out for that to see how Democrats and industry respond and exactly what kind of vote we might expect later this month or in early August.

[00:50:35]>> So, um there was Whoa, what was that? Okay. Um, there was reports yesterday that when when Senate Republicans met with Trump, it was Bernie Moreno and it was Senator Lumis and maybe a few other people, but there was reports that the language that they were showing Trump wasn't language that Democrats had agreed on. We don't have any clarification of of what was kind of said and how that meeting went. Uh, but I did I was able to find this right after as as um you know, I was playing that clip. House Financial Services Committee Chairman French Hill says President Trump uh has worked hard with his lawyers to meet Senate Democrats ethics requirements for the Clarity Act.

[00:51:21]And so I was trying to get a little bit more information here. Um it doesn't really give us any anything outside of that kind of tweet. Um so there's really nothing there yet other than they're working on it. Clarity Act. Let's see if we got anything else as far as the language.

[00:51:43]Senator Lumis, an hour ago, more than four million people lost access to their money in 2022.

[00:51:49]Congress spent years arguing All right.

[00:51:51]Four four million people lost access to their money in 2022, and thousands are still sorting through bankruptcy claims today. Congress spent years arguing about crypto's future while consumers waited in bankruptcy court for their own money. The Clarity Act ends the wait and ends the fight.

[00:52:10]Interesting. Interesting. Interesting.

[00:52:12]All right. So, yeah, I don't think there's anything else new. I mean, this is basically what's been reported here.

[00:52:25]>> Yeah. Nothing else. Nothing else new.

[00:52:28]>> Can they support it? Would they allow quote a win for President Trump? because President Trump wants to make the United States the crypto capital of the world when he took a major step in that direction with the Genius Act. And you know, will they allow another step? I I just would say this. I I saw something that we've never seen before. That is the Democrats in unison refused to even fund our military this week. They procedurally blocked it. So, we couldn't even move forward on that. That's never happened before. So, the political environment is such it's just making it much more challenging. Again, my colleagues are working very hard to get it done. But I do think that's the major difference is is the political calendar is closer and that makes clarity more complicated.

[00:53:08]>> Yeah, I mean they can't agree on much right now. That's that's really the hard part here, guys. Let's see here. Fred Fred Fred says, "If Clarity Act if Clarity does not pass, nothing changes.

[00:53:19]We can still get yield from our stable coins. Banks will not want to donate money for elections if clarity stalls."

[00:53:25]Side note, FRWAS may be something cool in the future.

[00:53:30]your thoughts. FRWAS.

[00:53:33]What does the F stand for?

[00:53:36]Real world assets, I get it. But what does the F stand for?

[00:53:41]Future. Real world assets. Like futures.

[00:53:44]Um, I mean, you know, if the Clarity Act doesn't pass, I think, you know, yes, it'll be better for people wanting to get rewards for just holding stables, but realistically, you're just going to have to do an extra step to earn rewards. Like, if the Clarity Act passes and it changes some of the Genius Act language, right?

[00:54:09]Because that's part of it, right? Um, that's what you're talking about here.

[00:54:13]uh you know, you're going to lose more by not getting it passed. Like, all you're going to have to do to get yield is probably join like a rewards program, like take an extra step or stake or or do something additional to get rewards. Like, you're still going to be able to make those rewards. It's just you're going to have to do something else to to to make them.

[00:54:35]I I would rather have the bill passed than kind of deal with this, you know?

[00:54:39]Like, we want to get it done, man. Like we really do.

[00:54:49]Seems like Jaime Diamond and JP Morgan would be in agreement for clarity to save a trillion each year for money transfers and cross borders. Not quite a trillion, but I get what you're saying.

[00:54:59]I think I did uh the research on this. I I I looked at uh you know all of the transactions cross border uh and I think banks would save like 200 billion a year something like that. It's it's significant though don't get me wrong uh but it it adds up really quickly.

[00:55:19]All right. How far behind am I? I'm 10 minutes behind on questions guys. Holy smokes. Um oh thank you super. I appreciate it man. America is doomed.

[00:55:27]You know, people have said this for a long time and we've got our problems absolutely, but I think any country has its problems and I think, you know, with social media and and it's really difficult for people to even have a conversation like I'm sure you've been in a situation where you're hanging out with friends or family or maybe some new people that you've met in and you're you know, you're all sitting together and somebody brings something up that's very very passionate or very uh, you PE people have complete opposite views and it's really hard to even get points across on maybe what you're trying to say. People kind of are closed off. No matter kind of what you say, you know, you're lying. You don't know what's really going on. And dialogue, it's it's a lot harder to just have dialogue with people, I think. And and I think that's an overall human problem at this point because we're so used to social media and just being able to spew out what we what we feel and what we want and we don't really care what other people you know like we've lost that connection I think that we used to have when when it was more kind of persontoerson contact cuz like when you're when you're personto person you can't really say like you know f you you know blah blah blah like you got to deal with that in real time. Uh, with social media, you can basically say and do whatever you want and not have many repercussions.

[00:56:51]And so, um, you know, I think that's just a human flaw at this point. But I hear what you're saying, but thank you so much for the donation. It it really does help the channel and, um, I'm grateful. Very, very grateful.

[00:57:07]Uh, yeah, America's finest hour, golden age in route. Fair, fair enough.

[00:57:17]We are we are further behind. So Manny says we may not be doomed. Um maybe not doomed, but we'll we'll get enough further behind compared to other countries. Yeah, I think we're already further behind than other countries. And it would be great. This would be such a good win, you know, and I think we all deserve a win at this point. Um it would be a win for the crypto industry. It' be a win for America. It' be a win for for for you know other countries that are maybe waiting for America to set policy around regulation cuz there are some smaller countries that are doing that.

[00:57:54]So I still think it gets done guys. Like I I've been optimistic this whole time.

[00:58:00]You know I know we see a lot of negativity in the news and like head those headlines they they really just want to kind of draw you in to to have you read their publication. like I I I think we find a way to move forward. Uh you know, I I have to believe that we didn't spend all of this time for nothing. And um you know, I I'll continue to be optimistic about it.

[00:58:26]Yeah. I mean compared to compared to other countries, you know, uh the United States is far beyond um what some other countries, you know, are dealing with. I mean, you know, I I'm thankful to to live in Hawaii and and and be be an American.

[00:58:48]And um you know, I would love personally to see us maybe spend a little bit less on the endless wars and more upgrading the country's infrastructure. Um but that's a separate conversation to have, you know.

[00:59:10]Yeah.

[00:59:13]I mean, you know, you just all when when you're watching like a a football game or, you know, one of these soccer games and you have the jets flying over, you know, you just feel very very patriotic and you just remember like, you know, h how much the country's been through over the last few hundred years and it's just uh, you know, we're we're we're still a very young country compared to, you know, the China or the Japans of the world.

[00:59:43]um or or even the UK, right? And there's a lot of places like Russia, a lot older than the United States. And I think we're, you know, in in in that kind of growing pain area where we have these these different political parties that are very wide from each other. And um sometimes it's hard to find common ground, but I think uh I think we'll figure it out, guys.

[01:00:13]with cryptocurrency, you can execute a strategy called tax loss harvesting. You know, I think I I interviewed um a tax expert on this uh six months ago, four months ago. If you go into my live streams and you look up tax, you probably will see that interview where the guy talks about this. I I don't know a lot about it and I'm not a tax expert.

[01:00:42]So, I'm not gonna begin to go down go down this road of of taxes because that's my least favorite subject in the world. Uh but I know there's a lot of strategies that people use and that's one of them.

[01:01:00]Check out my latest XRP daily dose episode. You'll love it. Ban man. All right. Do you make content on YouTube or do you make content on X? Where do you make content, Ben man? And we'll check you out.

[01:01:16]Mark says, "Thank you for producing video after video to bring awareness and education on XRP. Much appreciated, Mark. Thank thanks for watching, man."

[01:01:24]You know, um you you guys make the channel and I I just really appreciate your support. Thank you.

[01:01:35]If you if you if you make it to the end of every video that I have, I always thank you guys for your support. Every every video, just go to the end of the video and and and you will see. I really do appreciate. It is an honor to to grow with you guys, learn with you guys, and be a part be a part of your lives.

[01:01:55]Yes, my channel Band Man. All right, we're going to check this out. Hope hopefully you got some cool stuff.

[01:02:03]Let's see here. Ban man. Ban see ban dash man. Ban man.

[01:02:17]All right, let's take a look.

[01:02:20]Oh, I found it here.

[01:02:24]Share this video. Here we go. Supporting content creators. Ban man. Daily dose.

[01:02:35]You got to upload more, Ben. Man, you got to upload more. You got to do You got to do daily uploads if you want to start gaining traction on on YouTube.

[01:02:54]When I when I started making content on YouTube and I wasn't uploading daily, it was very difficult to grow. when I started to upload daily, it it started to started to take off. So, uh, I wish you the best, man. Go go go go check out Band Man's YouTube.

[01:03:19]I love that, man. That's awesome. Thank you for doing that.

[01:03:26]Anytime, man. Thank you, guys.

[01:03:29]Hey, Crypto Sensei, keep it spicy. I try to I got to be careful about how spicy I keep it, though. You know, there's there's a line that you just you gotta I sometimes go over the line. You got to be I got to be careful, but I appreciate you.

[01:03:45]All right. All right. We got Ban Man here, guys. Go take a look at Ban Man's account. Um, let's see what else we got here. I know there's some other stuff happening here.

[01:03:57]All right, we got Brian Steel.

[01:04:02]All right, this was on Fox News earlier today.

[01:04:05]>> All right, let me ask you about Senate Republicans meeting with President Trump yesterday, hoping to get his stamp of approval on the updated language for the Clarity Act. The House sent it to the the House sent it to the Senate a year ago. And Senator Cynthia Lumis was with me here this week, earlier in the week.

[01:04:20]Uh, and she said that this bill will likely be brought to the floor in the next week. Congressman, a lot of people writing on this and business riding on this. Um, you and other members of the Financial Services Committee are in New York to hold a field hearing on this bill. What can you tell us about the Clarity Act?

[01:04:35]>> This is our opportunity to put real and substantive legislation on the floor and provide regulatory clarity in the digital assets space. Again, this is an example of the House doing its job. We passed this now approximately a year ago. The Senate has been struggling to move this forward. I'm optimistic that we get this across the line next week in the United States Senate. It's absolutely essential that the United States sets the gold standard for regulations in the digital asset space, that we unlock so much capital, human capital, and financial capital that will come into these markets in the United States of America in a regulatory regime that protects consumers. Clarity does that. It's passed the House. It's time for the Senate to act. Well, I mean, the Senate is is wrangling with uh Democrats over the language on ethics.

[01:05:22]Congressman, you know that.

[01:05:23]>> Well, individuals that are concerned about the broader ethics reforms, and I think that there is a need to look at this, actually should be supportive of the bill. If an individual is concerned about how memecoins were treated under President Biden's appointment of Gary Gensler, all the more reason to move forward clarity, to put a regulatory structure in place to make sure that we're regulating good and bad actors.

[01:05:45]The good actors in the space want the bad actors to be regulated. We all want the bad actors out. The Clarity Act provides a regulatory environment to be able to do just that. And so the individuals uh that grandstand on the on the ethics side should be more supportive than anyone else about moving clarity across the line.

[01:06:02]>> All right. Oh, I do want to I do want to comment. I pulled up some new stories that I'm going to cover in just a second. Um Monday there's a special uh special chat, special sensei chat. I'm going to have uh the chief product officer at Uphold on the show on Monday.

[01:06:21]So uh there's going to be an announcement, a big announcement from Uphold on Monday and then we're going to get into some updates from what happened over the weekend for the Clarity Act and crypto news. So uh if you guys can come support that, I would greatly greatly appreciate it. Uh and if you have some questions for the chief product officer at Uphold, that's going to be a great time to get some of those questions answered. Now I did pull up a few things here. I just saw happen. It just came across the wire here. HSBC became the first company approved by the Bank of England to launch a digital asset platform in the UK's digital security sandbox supporting tokenized bond issuance and settlement. That is a big deal. Remember HSBC is one of the big three. JP Morgan, HSBC, and City Bank handle a lot of the world's uh you know crossber traffic. A lot of banks use their rail. So great to see HSBC in that role. Uh you do have Monica Long here, the president of Ripple. Uh just landed on stable coins most influential 2026 list to be recognized as issuer and protocol leaders and top women in stable coins. That is really awesome. I don't know how we get to vote for her, but I'm sure we will jump on that. And then take a look at Robin Hood chain, guys. 6.19 billion in communive DEX volume, 1.28 28 million uh accounts, 89.12 million transactions, and 1.34 million in chain fees generated. It is about to get saucy.

[01:07:54]Valerie says, "I love this channel because there's community and we're all on edge.

[01:08:00]watch chess for facts and you always provide info when I'm grinding daily. Thank you. Absolutely.

[01:08:09]Absolutely. I you know uh it it's so much fun uh researching all of this and and and bringing you the content. I can tell you that sometimes, you know, you guys see the finished product, but making the finished product often takes uh quite some time. And some videos, you know, all the intro, I just can't get it right. And there's some videos that I'll sit here for an hour, an hour and a half just trying to get just to get the video right. And sometimes you'll make it five minutes or 10 minutes in and you'll just scrap the whole thing. This is not good enough.

[01:08:50]You got to start over. And so I'm just glad that the information connects with you. You're learning. You're growing.

[01:08:57]And it's helping. That's that's the main point. So, thank you. Got Uphold and a cold wallet.

[01:09:05]Nice. Well, Uphold's got a lot of really unique products that everyday people can use. I mean, um, their debit card, you know, you're going to spend the money anyways. Why not earn some additional XRP? They have a direct deposit feature where you can get your paycheck a few days early. Uh, you know, and you can earn additional XRP depending like what you deposit and things like that. Uh, they have all of these like, you know, useful things that people use every day, right? Um, and there's there's just a lot of things that they are working on that are coming and um, you know, they're they're a really cool people to work with. I I really like like you know I've interviewed and met with the president of Uphold. Uh I've met with their head of neo bankanking Raj. He's a really nice you know cool guy. Um he you know we had a lot of fun in the interview we did. Um I just interviewed the chief product officer uh uh Paul. Uh and and those uh that'll start rolling out on Monday. We're waiting for an announcement that's coming from Uphold uh early next week. And so I think I think Paul Unterberg, he's the chief product officer. He's coming maybe to this show to announce uh something big from Uphold. So uh I I I can't I don't want to say too much, you know, I'm probably already sharing too much, but um he's he's a very passionate uh XRP enthusiast. He really understands the crypto market and he's just such a nice guy. And so, uh, make sure to watch that content when it comes out and be be a part of that live interview, too.

[01:10:45]Thank you, man. Thank you. I appreciate it, Ben.

[01:10:53]Freestyle. Yeah. I mean, hey, you just got to go with it, right?

[01:10:58]You know, uh, you just you got to find your style, you know. Uh, I I like it when I can get through a full video without screwing up once, you know, like that that that's that's a lot of fun when you can go like 16 minutes straight and not have any issues. Um, but I, you know, I appreciate you guys. Do you think Xector will take off after clarity?

[01:11:23]Xector.

[01:11:25]Um, I've heard the name. Where have I heard this before?

[01:11:30]Xector.

[01:11:32]Xector. Isn't it like a Isn't it like one of those um not NFTt but metaverse plays? Wasn't it like u I thought it was big like last cycle. X X Spectre. Hold on.

[01:11:53]X Spectre.

[01:12:00]Let's pull this up real quick. Xector looks like there was a Xector.

[01:12:11]We're building the experimental layer of the internet of value. A persistent share 3D world where people at brands and your own create and connect.

[01:12:23]I do have a good memory sometimes.

[01:12:26]Hold on. Coin Market Cap X Spectre X Spectre. There it is.

[01:12:39]It doesn't even have the data.

[01:12:47]Why not? Website Man, I always love I always love looking at some of these um metaverse worlds. I mean, it's just so incredible what these what these people are trying to build.

[01:13:07]You know, it it it didn't it didn't take off. I think it's just be like it's be it's ahead of its time, but you know, in 10 years, I think all these people are going to be in these im immersive worlds.

[01:13:24]Yeah, you know what? I I wish I I wish I knew more about this. Um I I really can't add any value, man. You know, it's not something that I I've ever talked with the team or, you know, invested in or something. So, um I don't know, man.

[01:13:39]I I wish you luck, though.

[01:13:46]So, let's see here. Uh N8 says, "Yes, Ripple is S tier. Even in video games, the S tier doesn't always seem obvious until later.

[01:13:58]Word to the Call of Duty zombies starter pistol." Um, you know, when you're looking at companies in the blockchain space, uh, there's there's very few companies that are on the same level as Ripple. And and you got to talk about it's not just about kind of what you see. It's about uh licensing, right? Being able to operate in certain parts of the world.

[01:14:22]That's a that's a huge deal, right? You you you got to, you know, Ripple has as far as blockchain infrastructure company, they have more licenses than Coinbase and Circle, you know, and and Coinbase and Circle has a lot 75 plus, you know, got to pay attention to that.

[01:14:40]you you often see uh conversations, you know, or or or gatherings with regulators, central bankers, you know, Ripple's in the room. You have large financial institutions, multi-trillion dollar financial institutions, you know, say that the reason they they work with Ripple is because they're they're like us, right? They're decades in the the banking industry and and and financial market infrastructure industry. I mean, you know, five years ago, I'd say Ripple is a different company than today, but they've been expanding and they've been growing and, you know, people I I think people are going to underestimate them at their own peril. You know, I I really think they are doing everything that they can to to promote and and build XRP infrastructure. You know, I think I think like the biggest maybe um critiques I've heard from from developers in the XRP space is it's it's it's maybe harder to get certain grants and maybe maybe could you know Ripple could be a little bit more interactive with some of that stuff, but overall I think um you know they're they're a company that's going to be extremely extremely big and um you they they care deeply about what happens with XRP and um you know I'm looking forward to going to Swell in October and you know may maybe I get to meet Brad Garlinghouse. I think that would be really cool.

[01:16:13]I don't know what I would say to him though.

[01:16:17]What's up Brad? I don't know. I got to work on that, you know, but uh that'd be a lot of fun.

[01:16:39]anyone watching the soccer like anyone care who wins this this weekend? What do you got? France and England third place and then you have Spain and Argentina.

[01:16:52]Who's going to win? Spain and Argentina.

[01:16:57]Is Ripple's icon a fidget spinner?

[01:17:00]That's the icon right there. I have a sticker.

[01:17:06]It's a Triscilian.

[01:17:08]It's not a It's not a fidget spinner, but it looks like a fidget spinner. I get I get why you said that, but it's a trillion.

[01:17:22]But yeah, it does look like a fidget spinner. All right, so some people say Argentina, some people say Spain. Dude, Spain Spain has some pretty good defense, man. It's going to be real difficult.

[01:17:36]Simpsons was wrong about soccer. I I don't know, man. I don't watch the Simpsons anymore. I watched the Simpsons like 25 years ago, but not not recently.

[01:17:49]Triscilian. Yeah, there you go. That's right. Triscillian XRP price a$18 at the moment. Yeah, it's just what we're one bad day away from being under a dollar.

[01:18:04]Spain will win.

[01:18:08]My my hobbies include watching paint dry. Lizard King, you're so funny. ASC question. Does an asset have to be on the XRP ledger to move value?

[01:18:24]Question. Does an asset have to be on the XRP ledger to move value? Like if you're moving value on the XRP ledger, you need XRP to move that value. Um, I mean, you can build like a a private network and just be around like central bank money. I think that's kind of what we've seen in the past. Um, but like if you're if you're talking about the native XRP ledger, the open decentralized, and you're you're tokenizing value and you're moving that value, you do need XRP as the gas token to do that.

[01:19:01]Um, but if you built like a private system using XRP technology where XRP wasn't the main currency, but you're just using the underlying open source technology, you could get away with not using XRP.

[01:19:17]I'm telling you, my time traveling source said Argentina beat Spain 3 to2.

[01:19:22]He told me this in 2021.

[01:19:25]If if Argentina beats Spain 3 to2, I'm going to be watching your channel more often, man. I have to say, sensei, how would chain link perform becoming a DTCC standard? Not as good as XRP. I So, so chain link is vitally important as far as updating information across systems.

[01:19:43]Okay. Chain link isn't a settlement asset, but chain link allows and connects other blockchain networks. And so if you're trying to move something of value between, let's say, the DTCC and Stellar, you need something to be able to update that information across those those networks. And that's really where chain link comes into play. Um they're they're doing different things, you know. Um, I I I've said for a long time chain link is like a vital piece of what this kind of future infrastructure looks like across public and private systems. Um, you know, Canton has a place, Stellar has a place, Quant has a place. U, you know, there's some really important infrastructure that's all going to work together. It's not going to be one chain to rule them all, right?

[01:20:38]you you you will see certain chains be larger than others because that'll come down to adoption and who's using it at what scale, how many assets are tokenized on that chain and and how much value is moving across that chain. Um but you know they they all have different kind of use cases of what they're trying to do.

[01:21:03]SpaceX took a took a dump.

[01:21:06]Took a dump. Like it is it is not good.

[01:21:10]I mean, you know, we actually talked about this um we actually talked about this uh when the SpaceX first launched and um you know, people were we people were calling it. There were some people in here that said, you know, uh, launch, you know, value extraction, you know, all these people invested in it and then just value extraction all the way down.

[01:21:37]Not great.

[01:21:43]Not great at all.

[01:21:46]Um, what did we say?

[01:21:49]SpaceX was valued at two trillion makes$10 billion a year. Walmart valued at 1 trillion makes$1 trillion a year, right?

[01:22:01]Or something something like that. So, you know, it was overvalued to start.

[01:22:06]Not necessarily saying like in 10 years it won't have extreme value, but right now like you could see that that was going to struggle to keep that valuation in price.

[01:22:16]It's just it's sad that people get wrecked, you know, and you gota you got to just take a deep breath and not not buy into the FOMO.

[01:22:27]Wait, wait. Don't put that soccer game on my good XRP content.

[01:22:33]You're good, man. You're good.

[01:22:45]How do you febot t- rice token helping Canton Jevansson?

[01:22:55]Um, can you break that down a little bit? I think that was maybe a broken message. Uh, I need a little bit more information. Let's see here. Super. If the Senate approves new revision, might that help stimulate the crypto market, i.e. XRP, into a more bull market? So, um, so the Senate approves a new revision.

[01:23:16]Might that help stimulate the crypto market, i.e. XRP, into a more bull market even for the House votes? So, I mean, will it will it get people excited in the moment? Yeah. Will you will you get like a momentarily pump?

[01:23:32]Probably. you know, um you always think something's going to make something pump and then it has the it has the opposite effect, but you could see where people would will get excited and I you know, it it would feel like the market in my opinion could could pump. Um you really need to get it signed by the president for people to to really kind of, you know, jump jump in harder. Most people are already positioned though, right? Like I if you believe in this market long term, you know, how much lower is the market going to go? 5%, 10%, 20%. Realistically, a lot of people have already kind of pre-positioned at this point. So, you know, I think I think a lot more people are worried that it fails. You know, I think I think there's more uh there's more people out there that don't believe it'll happen um than than it actually passing. And so, you know, I think that's kind of where the crypto market is, the state of the market at this point, right? The crypto market hasn't been a fun place to invest in since since like 2021, right? It's been 5 years since most crypto assets saw all-time highs. Um, the reason Bitcoin, Ethereum, XRP, and Salana, you know, had some nice movement is because they had ETFs, you know, um, and different products to invest in.

[01:24:53]So, um, does the does the market come back? Will we see like a 2021 style pump if the Clare Act passes? I don't know.

[01:25:03]We'll have to see. It it will take some time for the rule making. You got to remember that. So, you'll probably get the initial excitement phase, but then the market will probably cool down a bit and then you probably will build into something much greater.

[01:25:25]So I'm only asking if you had Bitcoin and Ethereum and you wanted to settle the value, could you use XRP between to do so? You could use interledger protocol.

[01:25:34]Look up research interledger protocol.

[01:25:39]I think that might answer your question.

[01:25:45]Sensei, what what is the news update about the clarity act? Uh, will it pass or not? Um, let's just break it down real quick. Trump, President Trump met with senators, uh, met with Bernie Marino, Senator Moreno, and Senator Lumis yesterday to discuss ethics and a few other things that are still holding up the bill. We had no word what was said in that meeting. Um, there's been a lot of flurry of discussion today, a lot of interviews where ethics still remains the key issue. Uh there's supposed to be a new version of the text released. We we was supposed to happen yesterday. We still haven't seen that today. Um there has been Senator Lumis on on Fox News as well as uh Representative French Hill from from the Congress side um said or the House side, excuse me, said that um there should be a vote or the bill is kind of moved to the floor next week sometime. So, you need the text first and then I'd imagine a few days later you could see a vote, but you won't see the text drop the same day as the vote because people will need time to go through it, especially if you're going to be voting on it. Um, so it could drop this weekend. Hard hard to know, man.

[01:27:02]Like I I don't have a somebody on the inside, right, in the Senate. Um, you know, I'm kind of picking through the news as it comes out. Uh but we really aren't any further than we we were maybe a few days ago. Still the same issues.

[01:27:20]Um still lack of of of understanding what's in the bill and what what has been changed. Um but you know I stay I stay optimistic.

[01:27:41]Let's see who. Oops. How do you feel about price appreciation? Does it help Canton network? Does does price appreciation of what? The whole market.

[01:27:51]I mean, you know, if the market's doing well, can Canton is moving some serious volume? Serious volume. Um, how does that translate? How high does it go?

[01:28:05]your guess is as good as mine. Um, you know, they they have like a a very interesting setup where where banks can kind of use it because you you don't really have this kind of full clarity in the United States as far as um using kind of public blockchains to do certain things for financial institutions. You you need that whole privacy layer. Um, and Canton adds that that that layer of privacy. Um, you know, there are people that speculate that Canton will will be connected to other chains, you know, like the XRP ledger and things like that. Um, but if the crypto market does well and Canton is is impacting a large percent of the crypto market, it'll probably do well.

[01:28:55]Is crypto possibly going to actually be the mark of the beast? I don't know.

[01:29:02]I think we all just are ready for something more interesting to happen.

[01:29:06]Like we're ready for things to kick off, you know? Uh it's been a year. It's been an entire year since the Senate has had the bill and they keep kicking it down the road and it it's like your your your backs up against the wall now. You can't really kick it down the road any longer.

[01:29:25]You have to make a decision. You have to make a compromise. You have to get it moving.

[01:29:36]Big big slink. I I see I see what you're saying. I I I hear your frustration.

[01:29:47]Let's see here. Sensei, we know that DTCC will use several assets to tokenize on. Will there be a particular settlement blockchain or liquidity blockchain? Does it make sense to have one coin providing liquidity? um you're never just going to have one chain. Uh you know, it's going to be a multi-chain world. You you don't want to rely on just one system in case something happens to the system. Um we speculate that DTCC will, you know, possibly want to use something like the XRP ledger, but we've we haven't we have no official comment from them on it. Um, it would I think it would be like a swift kick in the in the in the you know in the in in the you know what I'm saying? It'll be a swift kick in the if if you don't get any announcement from the DTCC at all around XRP. Like I think it'll be I think it'll be a big it'll be a big goose egg for the XRP community. You know, there's been just so many people talking about XRP connectivity and so, you know, the DTCC says that it's going to announce more blockchains.

[01:31:11]We're waiting. Um, but, you know, we we don't have anything official, and that's that's really what I'm waiting for. You know, we can we can speculate, we can hope, we can dream.

[01:31:24]We still got to wait for it, man. you know, and that that's the hard part.

[01:31:30]But it it's not gonna it's not going to be fun if you don't get anything from them at all.

[01:31:39]If JP Morgan transferred 1 billion crossber, what is the cost for the transfer using swift and then what would be the cost using XRP? I mean, I I know what we pay.

[01:31:51]It's hard to know what they pay, right?

[01:31:54]Like I I don't know if there's a lot of public information. Um there's there's like a percent of of how much. Usually what happens it's it's not like they're sending your one payment. Usually they're sending a batch of payments, right? Like they'll send a billion dollars and in that billion dollars is your payment and you know 50,000 other people's payments because it it wouldn't make sense to just send the one one payment. And so banks have to reconcile those balances. And so they say, you know, FX and these types of things, crossber could be 3% up to 7%. Um, exotic corridors could be could be a little higher. Um, and so it's really it's really it's really hard to know what like the net net is, but if you use XRP, it costs under a penny to do a transaction. You know, I think there was like a famous comment from uh Andre Horowitz, I think it was, if memory serves me correctly. uh where a guy says like we move $50 million and it costs like 30 cents or something. So it's it's it's extremely cheap to use XRP to move value and you and you know how much it's going to cost you before the payment gets sent. And I think that's that's some of the advantage and it reduces the friction, the settlement and all of that stuff. Um but it's really hard to know exactly what the fees are on the other side. We can try to find out but I think I've looked this up before. Um, how much exactly does JP Morgan pay to send a crossborder?

[01:33:29]What is their cost?

[01:33:38]Yeah, there's no public all-in number.

[01:33:45]See, that's the that's the hard part, man. You just don't know. But like, we get charged these fees, right? 35 to 50 bucks.

[01:33:54]Banks quote their own FX rates. JP Morgan notes its FX rate will include a spread set in its direction. and industry research typically find the spread is 0.5 to 3% or more for corporate small to medium enterprise flows depending on currency and pair negotiation.

[01:34:16]JP Morgan Link reports CBDC's estimated global corporations move about 23 trillion per year crossber payments and pays around $120 billion in US dollar for the transaction fees.

[01:34:45]Let's see what the percentage is on this.

[01:34:51]52 52 basis points.

[01:35:00]How's it sensei? What's up, Ronnie? With all the geopolitical stuff going on, do you see countries that rotate economically to China as a problem uh possibly utilizing their SIPs or embbridge structure? Yeah, I mean, um there's going to be there's going to be countries that don't want to do business with the United States or don't want to use the systems and China has a a real system that, you know, will get will will gain market share. Absolutely. Um you know there's nothing you can do about that. Um China is really trying to position its itself and its infrastructure as you know a global leader. the the issue China's had is is their currency is really not used uh on a global scale for for you know trading or uh it's not used for um you know FX or it's not used for for trade and oil and all of these things but they're starting to try to make some type of impact the hard the hard part becomes you know um the devil you know and what I mean by that is you So it it's like at the end of the day if you are a country and you have to hold your reserves of that country in a currency do you feel more comfortable holding it in US dollars where kind of everybody's been using that to trade for the last 80 years as the world reserve currency or do you start to trust China's currency the yuan where like 90 something% of it's mainly in China and so that that's really the the the the question that a lot of countries have to face, but more and more countries have been selling US bonds and and and not holding as much US debt because, you know, US debt's a little out of control at this point. So, will will China gain more market share over time? Possibly. And and when it's on blockchain rails, it'll have be more transparent. Um, but you know, you still face the problem of of where what do you hold your reserves in? And I think that's why a lot of countries have been moving towards gold, right? You've seen a lot of central banks buying gold the last, you know, two two to five years.

[01:37:13]Um, but it is it is a difficult question that there's no right or wrong answer.

[01:37:22]You know, there's going to be some countries that feel more comfortable holding US and there's some countries that are going to move towards China.

[01:37:30]K dot says, "I'm sticking with clarity passing on on Thursday. SEC ruling genius and house clarity passed happened on Thursdays." Oh, like I like it. I think probably to catch all the news coverage in the weekend, right? Maybe.

[01:37:44]You could be right, Kot.

[01:37:46]You heard it. You heard it here first.

[01:37:48]Kot is predicting Thursday. I like it.

[01:37:54]All right, guys. Listen, it is 3:40 in the afternoon. These usually I I've I've been been online for about 11 hours at this point and my brain gets a little fried. Please show up on Monday for the special live stream. I'd really appreciate your support there. Have a good weekend. Thank you for your support. Thank you for all your questions and your likes on all my content. Um, thank you for the donations today. And just thank you for spending this time with me. I I do consider it an absolute honor. And I just wish you guys an absolute fantastic weekend. All right. Thank you to Ariana and all of the mods that that kept the chat safe and um I'll see you guys on Monday for a special edition of Sensei Chat with the chief product officer at Uphold. That'll be a lot of fun. You won't want to miss it. All right. Aloha, guys. Bye.