🚨 BOMBSHELL: JP MORGAN CEO "WE WILL FIGHT" CLARITY ACT! 🚨 XRP & XLM DECOUPLING HAS STARTED!?

Added: 2026-06-02

[00:00:00]Massive update for crypto investors. JP Morgan CEO Jaime Diamond just came out and said the Clarity Act in its current form is unacceptable. Well, during today's episode, we're going to be breaking down the war that's playing out before our very eyes as he stated Coinbase CEO Brian Armstrong was full of [ __ ] live on Fox Business. We're also going to be breaking down some of the latest comparisons between XLM and XRP.

[00:00:23]With many people claiming they are selling their XRP to purchase XLM, we're going to show our listeners how these are two parts of the same equation.

[00:00:31]Hello and welcome back to another episode of Good Evening Crypto, your favorite crypto news related channel. If you enjoy this content, smash that like button and subscribe as you're going to get an update every single day 5:30 p.m.

[00:00:42]Eastern time. And to kick off today's episode, I would encourage all of our listeners to stick around until the end of the show as we're going to give you a full breakdown of exactly what's happening with the Clarity Act, but also how institutions are starting to select assets just like XLM and XRP. But to kick off today's episode, I wanted to show you guys the latest update in regards to XRP ETF adoption as XRP ETF saw $35 million worth of inflows while Bitcoin and Ethereum combined lost roughly $2 billion last week. And we are seeing major sellers come into this market dumping Bitcoin at large as BlackRock dumped over$1 billion dollars worth of their ETF in just the month of May alone. So large institutional investors are beginning to offboard some of these older assets and I'm wondering where are they reallocating to? Well, that's the conversation we're going to be breaking down later on in today's episode. And my belief is that the DTCC news that we got earlier this week, this was a great indication of which blockchains will be most successful. But I wanted to give you guys a brand new breakdown in regards to what's happening with XLM and XRP. As XLM and XRP are built to work together to change the modern-day banking system. Now XLM's role is it positions itself much more around the bridging of banking to the unbanked and asset tokenization such as minting stocks and bonds as seen by the DTCC. But XRP has a completely different direction. It aims directly at the heart of the global banking system. meaning tier one banks and the core settlement layer will replace Swift. This is why XRP's need for regulatory clarity inside the United States like the Clarity Act and the institutional compliance is far more critical compared to a product like XLM. Many people have been saying why does XLM not need the Clarity Act?

[00:02:22]That's because some of these original use cases aren't as fundamental as what XRP is attacking here. Tier one banks can only perform cross gross settlement with a network that provides a solid legal foundation and commands a price level high enough to effortlessly absorb billion-dollar orders in a matter of seconds. XRP is currently the only bridge asset capable of getting this done. And this is the writing I think many people see on the wall when it comes to the banking industry, Johnny.

[00:02:49]So yes, XLM can also execute crossber payment transfers, but its lane is focused on retail remittances, micro payments, and the movement of tokenized assets. While XRP on the other hand is a heavy industry player engineered to carry trillion dollar crossber liquidity transfers at the institution and central banking level. If you guys agree with that, smash that like button. Leave some of your thoughts underneath the video.

[00:03:13]But with that being said, we're gonna get into a brand new update from Jamie Diamond talking about what he believes about the Clarity Act and how they're going to put up a fight regardless of what happens. Here it is.

[00:03:22]>> So, are you happy with the way the Clarity Act is turning out?

[00:03:25]>> No.

[00:03:26]>> No. Because it it it allows them to effectively pay interest on deposits, table coins or something like that without the protection that they should have. And it doesn't do anything for AMLBSA. It has almost no legal protections. So, no, it's the banks will not accept it that way. They >> and the ABA, the small banks, the credit unions, not just the big guys. I'm not worried about stable coin, but if it happened, I'm telling you, I would have nothing to do with it and it would eventually blow up on its own. Okay? But that's my personal thing. But I do understand the concern of all the other banks. So, >> well, the markup is coming. I mean, what are you going to do about it?

[00:03:59]>> It is. We'll fight it. If we lose, we lose and we'll live.

[00:04:02]>> Okay.

[00:04:02]>> But it will be fought. This will not be No, no one's going to bow down to this guy, okay? Or that company. But he's the only one and he's spending hundreds of millions of dollars in Washington in this thing.

[00:04:13]>> He said he's he's representing the whole ind [ __ ] >> Well, um we're going to watch that one.

[00:04:20]>> Yeah.

[00:04:21]>> Wow. Well, I mean, this is turning into a big fight between the whole, you know, each industry and and and you're talking about blockchain and and and getting blockchain out. But we do blockchain.

[00:04:29]>> You've been doing that for a long time.

[00:04:30]>> We have connectors. We have J. We're going to do it. I think it's a legitimate technology. I think stable coin can be a legitimate payment system.

[00:04:37]>> And I think what this outlines about the Clarity Act Johnny Crypto is that the banking industry may not love everything that's within this bill and that could work to the benefit of retail investors.

[00:04:46]But White House executive Patrick Wit actually responded to this clip from JP Morgan CEO and he stated directly, "This is an odd clip. I find it hard to believe that the CEO of a major BBB could be this uninformed about a major piece of financial legislation. The Clarity Act doesn't do anything about AML or BSA. Really? Have you read Titles 2 or Title 3? This is a quote. It allows them to effectively pay interest on deposits. That is false. Section 404 explicitly prohibits digital asset companies from paying any form of interest or yield on a stable coin balance in a manner that is economically or functionally equivalent to paying interest or yield on an interestbearing banking deposit. It's becoming increasingly clear that the banking opposition to the Clarity Act is more about personality than it is policy. And my belief is Johnny, at the end of the day, I don't think the Clarity Act would have made it this far if it didn't ultimately benefit the banking model on the back end. Yes, they're going to pretend like there's some major key points they're negotiating, but from my standpoint, the banks are getting a major win here. not only getting to remove a lot of the bad stablecoin negotiations they agreed to in the Genius Act, but they're also going to get full clarity to enable these blockchain products, giving them more control over customer assets. So ultimately, my belief is it works to their benefit. What do you think is happening here?

[00:06:00]>> Yeah, that's right, Abs. At the end of the day, there's no question about it that, you know, being able to overturn the Genius Act and getting rewriting out the interestbearing uh yields is going to be a big benefit for the banks of stable coins. Obviously, and I've been saying this for a while, that there are banks fighting the Clarity Act for re for for some reasons, right? Reasons that we're not going to know, reasons that they're not going to tell us because Jamie just pointed out a couple things and Patrick just told you they're not true. So, obviously, there's something there that the banks don't like about the Clarity Act that they're going to continue to fight. You heard it right from the horse's mouth. JP Morgan is one of the high most powerful banks in the world. And if they are pushing back and fighting back, they are it's going to be a hard battle to win when you when you got JP Morgan and the rest of the banks lining up against you. That is not something we want to be able to see the clear get past. That's going to be a hard hill to cover. So, you know, whatever it is that's that's tickling his feathers over there. They're going to have to figure it out and start to figure a way to get past it or this is going to be a long drawn out battle. And I'm not so sure it's about the stable coin yield anymore because I think that issue has been addressed. Um, then he talked about AML. I mean, not having, you know, the right anti-laundering, money laundering. AML means anti-moneyaundering, right? Things like that, which I believe there are things in there. So, obviously Jamon's not happy with something about it. I don't know what it is. We're not going to know, but what we do want to know is can they get to a point where they can start getting some of these bigger banks like JP Morgan, the other ones on board or it's going to be a tough battle. I mean, you heard what he said. It's just one guy in our way, you know, Coinbase. And so, and obviously Coinbase feels just the opposite, right? That they're fighting for the whole industry. And to hear Jamie talk about that and call him full of [ __ ] Very, very unprofessional for a high-end CEO like that. I was really, very shocked. But I've always felt there were banks behind the scenes pushing back on this, right? And we see and we know because we saw Senator Warren, you know, you'll know when they're ready to pass the Clarity Act because Senator Warren will stop fighting, right? Because she's just the mouthpiece of the banks. And obviously, we could tell. And now we literally got it right from the horse's mouth. He said, "I'm not happy with the bill and we're going to fight it to the end. We may lose, but we're going to fight it."

[00:08:00]He knows he's not going to lose. They're going to end up getting some portion of what they want to be able to get this thing through. But you just heard it right there. So, this is going to be a long drawn out battle, my friend.

[00:08:08]>> And as much as Jamie Diamond has come out in opposition to the Clarity Act, we already have President Trump, SEC Chairman Paul Atkins, CFTC Chairman, and Treasury Secretary Scott Bessett all coming out this week and stating we need to get the Clarity Act signed into law.

[00:08:22]So, I think as we come up to this 2026 election cycle, this is going to be a key piece of legislation that Republicans, if they get this done, will be able to tout as a major victory for the crypto industry. But I want to hear from you guys. One's underneath the video if you believe the Clarity Act is signed into law this summer. Two's underneath if you think it does not get done. Here's what the SEC chairman had to say just 48 hours ago. We're looking and have I have confidence that Congress will uh adopt the uh clarity act and that the president will be able to sign it and that'll give us a statutory basis upon which uh we can operate and and then again allow the marketplace to uh innovate and do that here onshore as the president has basically uh you know challenged uh us to do is to we've chased a lot of these products offshore um to for people to try to innovate, but uh we need to do it in America under American law so that investors have the confidence.

[00:09:20]>> Well, Johnny, another thing that sticks out to me about Jamie Diamond's response is that even though he was extremely critical of the digital asset industry, he acknowledged JP Morgan's doing this.

[00:09:28]We have the Onyx blockchain. We're going all in on these products. So, my belief is it's really about getting as much as they can out of these negotiations before the Clarity Act is signed because after that, they're going to have to deal with every single amendment that that's in that legislation. And some of it may work to their benefit, but ultimately it may work to fuel the competition that's in the process of cannibalizing the banking industry today. That is a company like Ripple, Circle or Coinbase.

[00:09:51]>> Yeah. And I think in your mind, you have to kind of separate the difference between a blockchain technology and a stable coin. Blockchain technology, think of that as the software, as the foundation, right? They're going to use blockchain technology to build their backends. They're going to do that. The question is any blockchains that are going to be used then to to develop a stable coin, what are the rules of the stable coin? And I think that's where this is going to get very very confusing for the retailer and the whole industry understanding the difference between blockchains, between cryptocurrencies, between layer ones, between layer 2s, between stable coins. There's all these different things and it's very very confusing. But understand this, the blockchain and the software and the code that's going to happen. They're going to move forward with it. What runs on or how they operate these things, that's where the big battle is right now with, for example, right now we're talking about stable coins. Is there going to be yield on and so on and so forth? So, you know, you have to try in your mind to separate that difference because you're going to hear Jamie Diamond, oh, we're moving forward with blockchains. Okay, that and then people, what are you talking about? I thought you were against it. Well, yeah, they're they're not against us technology, but they're against the way some the way the technology can be written and used. And that's where the battle is, ABS, just to make it clear for our audience. And so, right now, we're sitting in what about a 57% chance. You know, this is going to be this is going to be very, very interesting. This thing's been bouncing back and forth because obviously they haven't gotten the banks on board. And I think if Trump wants this thing done, him and his team, they've got to go get get some of those big banks and pull them across the line.

[00:11:14]>> And this is what I think is so interesting, Johnny, is that the Clarity Act is really going to differentiate which of these products are adopted by traditional companies and which of these products just cease to adapt to this new era of digital finance. And I think when you look at the digital asset market at large, there's really only five or 10 products that consistently show up in these conversations. It's Chain Link, it's XRP, it's Hideera, it's XLM, it's Avax, it's Ethereum, it's Bitcoin, it's Salana. So I think our listeners have a fundamental understanding that the institutional adoption wave is coming but there's going to be a certain set of products that just totally decouple and outperform. And what XLM is really doing in the market today is a small example of how that decoupling event could work.

[00:11:52]The market has been massively correcting over the last 48 to 72 hours. But XLM is defying the momentum of the market and is continuing to rise regardless of what Bitcoin is doing. Now why is that the case? because we specifically have a new catalyst that will impact the demand on the network. And as more of these catalysts unfold postclarity act, I think we're going to be looking at a completely different digital asset space centered around many of our favorite blockchain products here in 2026.

[00:12:19]If you enjoyed this content, smash that like button, subscribe to the channel, and we'll see you all in the next one.

[00:12:25]>> Good night. So, if you're looking to implement the same strategies that we do here on Good Evening Crypto, I would encourage all of our listeners to click on the IT Trust Capital link below and sign up to take advantage of tax-free crypto gains. Now, that's not the best part. By leveraging the iTrust link below, you're going to get a $100 free signup bonus to start funding your iTrust Capital account. This is going to give our listeners access to crypto assets in a Roth IRA product, allowing them to compound those gains tax-free until they're 59 years old and held these funds for 5 years. So, a really unique advantage.