BREAKING: WHITE HOUSE *CLARITY ACT* MEETING CONFIRMED NEXT WEEK!? RIPPLE XRP SECRET LETTER!

[00:00:12]Gary Ginsler comes in again, you know, and becomes the chairman or someone like him, he could undo everything because the rules that the SEC is doing right now are all just called guidance. It's not the law. Now, Genius Act is the law.

[00:00:29]But in order for to get a green light for Charles Schwab, for Fidelity, for Vanguard, for Black Rockck, for State Street, for these huge institutional players, they need 100% clarity that if they offer exposure to digital assets that they're that when we get a new president, if the new president doesn't like crypto and wants to go after crypto, well, they would have to change the law. Right now, if Clarity Act doesn't pass, imagine that President Trump uh leaves office in three years.

[00:01:03]It's a new president. And imagine Elizabeth Warren is in charge again and she be she would be in charge of the Senate Banking Committee. She's the senior person. She's the chairwoman now if the Democrats become control. And then she could put in another Gary Gensler. and all they could do is go all the way back to way it was and lawsuits uh by the SEC and we would just keep flip-flopping and going back and forth.

[00:01:26]You can't do that with innovation, right? Everyone would leave America and it would go to the UAE and to Dubai and to Singapore and Switzerland or anywhere else across the world and just say we'll never get clarity in America. And so if we have it and it's signed into law, the chances of someone coming back and redoing a new law is very, very, very slim. But the chances without that law of a new SEC chair coming in and saying, "I'm going to go back to the way it was with Gary Gensler, that could happen."

[00:01:55]And so that's really what's at stake. We It'll be very unfortunate if we don't get the Clarity Act passed before the end of June. If we don't, I don't think it gets passed because we'll be in the middle of the midterm elections and everything will be about elections.

[00:02:11]>> Good morning everybody. Hello and welcome back to another episode of your favorite crypto news related channel.

[00:02:17]And you just heard it right from John Deon. We need to see the Clarity Act be voted on by the Senate in the month of June. Well, I've got a major update for you guys as the Senate has just confirmed a Stablecoin and Clarity Act meeting for next week. And that's what we're going to be kicking off today's episode with. We're also going to be showing you guys a brand new letter written directly from Ripple to the FDIC, which would allow for their stable coin, and this is historic. It would allow for the RLUSD reserve to sit in an FDIC insured bank, which would make this feel exactly like a normal savings account. Now, this letter, which we're going to be taking you through during today's episode, also highlights how Ripple's own bank, the National Trust Charter that exists today, could get FastTrack to have access to the Federal Reserve system instead of being stuck in the tier one territory where it currently sits today. So, everything is aligning in the background. Lots of exciting content to get into. I'm also going to be showing you guys there's a large argument out there. Is RLUSD working to the benefit of XRP? The more that I research this stuff, the more that we double down on these uh headlines here, Johnny, it is very, very clear that Ripple's whole narrative is to structure products that create uh more demand and more volume on the XRP ledger. That's exactly what we're witnessing right here. But before we even get into today's episode, I want to show you guys one more cry. Now, this is this is Representative Dusty Johnson, I think, out of South Dakota, and he's talking about the urgency behind the Clarity Act meeting. Then, we're going to show you the official meeting notes, which just came out this morning. Here it is. about urgency. Kind of a message to all of your listeners on the pod. We the window is closing >> and if it closes without the passage of clarity, it is really hard to say when it might open back up. I'm a little more u optimistic about Republicans chances to hold the House than most prognosticators, but let's assume that they're right. if they're right, we will have uh and particularly if if uh Democrats also take the Senate. Now, you're dealing with chairman Maxine Waters and Chairman Elizabeth Warren.

[00:04:18]You're dealing with uh an ad committee chairman uh in the House that we don't really know who it'll be, but all of the finalists for that job voted against Clarity.

[00:04:27]So, we really need urgency.

[00:04:30]We really need to have all of our public and private messages to the Senate be that hey the House did their job one year ago. Keep in mind two years before that we've done Fit 21 and we have got to close this out. We have got to close this out before August. Senator, we have to close this out. We need a constant drum beat. And you know, I don't want to criticize Matt Hogan with Bitwise, but maybe 10 days ago he said, "Well, the industry is going to do fine without uh without clarity." And technically that might be true, but from the long I mean we we're gonna have another Gary Gendler villain at some point. Uh be the head of Well, there you have it, Johnny Crypto.

[00:05:09]And I just want to make this point, guys. We're we're approaching a thousand live listeners. If you're enjoying this content, smash that like button. Uh subscribe to the channel. I want to give a huge thank you, Johnny. There was a little echo on the mic, so I just want to be clear there. But one of the things that I want our listeners to keep in mind is that we are seeing a last second push for the Clarity Act behind the scenes at the White House right now. And this is the breaking news that we're reporting on today's episode. Massive update out of the United States Senate as we can confirm the Senate confirms a Clarity Act meeting next week to finalize the bill. And Johnny, we're going to get into your do uh introduction here, but we are going to be taking our listeners through this brand new update. As I've said many times, I think the Clarity Act will be fasttracked. It will be signed by Donald Trump this summer and it will be the catalyst that drags us out of this bare market. Now, I know the odds aren't in my favor necessarily. Like, if you look at the poly market odds, 53% in favor, 47% saying no. I think there's a valid discussion on your part if you're going to push back here. I think it's fairly valid, but I'm willing to go out on a limb here and say, I think this happens, guys. So, I want to hear from you. One's in chat if you think it gets done. Two's in chat if he doesn't think it happens.

[00:06:13]Johnny, floor is yours.

[00:06:15]>> Happy Friday, everybody. And good morning to all the cryptomaniacs out there. We love and appreciate you guys for showing up every single day like true cryptomaniacs would. Uh you know, ABS, there is there's a a lot to be said there. A lot of videos, a lot to unpack.

[00:06:30]First of all, Deon's 100% right that if we don't get the Clarity Act, we're at the mercy of the next president and of course the committee members, your favorite your senator there, Senator Warren for your state. you know, imagine her being the head of the of the chair of the committee instead of Tim Scott.

[00:06:49]Well, forget about it. We got no chance of this thing going through. So, he's not wrong um in that aspect. And that's why it's so critical.

[00:06:58]May not be feeling it. I don't know what he's talking about. I I'm the one who's I I'm very pro uh you know, I Yes, I I I want to see it happen. I think it has to happen this quarter. We need to get it done before August because we go into the midterms. If here's our only saving grace. If we don't lose the House and the Senate, then we got a good shot at still getting it done within the next two years, right? But if we lose the House or the Senate, then it's going to be trouble because they know they have the upper hand. They know they have leverage and they'll just delay and they'll push the thing off and then it could be who knows when. It could be two, three, four years. Next president, if he's not pro crypto, forget it. You know, it could get hung up. So, ABS, I'm I'm going to go and say we need it to happen this quarter. That would be the most likely scenario. So, I am all for it. I'm all pushing for it. I just know that there are powerful banks behind it that don't want it. And so there's going to be a battle there. And hopefully the concessions will be made. I hope that the the folks who are pro crypto friendly understand that they may have to make some concessions they don't want to to get this thing passed. And it's better off doing that than putting your foot in the ground and saying, "Oh, we're going to wait and then could be two, three, four years before we even have this thing come back on the table again." You know, in the other the seminary you had there talking, he was talking about, well, he says, well, people have argued that if we don't get the crypto, the industry will still be okay. Well, I don't know about will it be okay? Will it will it will it move forward? It's going to limp. It's going to limp forward. Abs and the kind of money and speculation that we've been talking about that speculative money that ain't coming. It ain't it ain't going to come the way it should be coming if we do get the axe.

[00:08:34]So, I am totally hoping and praying that we get it. I want to see it. I believe we need it for multiple reasons, but the number one reason is so the industry can move forward and innovate. So we can lock in America as the crypto capital of the world versus watching other countries take the lead because we've seen that happen before President Trump got in here. ABS there was the Mika rule. Saudi Arabia was taking steps forward. All these countries are starting to define the rules of crypto.

[00:09:00]Is that what America's going to do? Are we going to let the rest of the world dictate? We're the number one country in the world for innovation. Are we >> part of the script? I really do. and we're going to show you guys cuz Johnny I want to add and kick it right back to you. This is the update on the Clarity Act meeting that was confirmed for next week. This is huge news and it's great news for people like me and you who are rooting for the Clarity Act to get across the finish line. Now, I want to make no mistake about this. If you listen to other crypto channels, people are very pessimistic on this thing getting done. What we're going to do during today's episode is highlight why are we optimistic and we'll accept the push back as it comes forward. But yes, according to multiple credible sources, meetings are planned for next week as Punch Bowl News, a respected Capitol Hill outlet reported on June 18th, 2026 that bipartisan negotiations are preparing an 11th hour sprint of meetings next week to finalize the key details on the Clarity Act. So, if you're excited about that guys, smash that like button. And remember, when we pass 589, we are sticking around for overtime. But we already know President Trump has been supporting this bill from day one. And I wanted to pull this tweet up which is from less than one month ago. Johnny Crypto and he called out exactly what John Deon and that senator Dusty Johnson said at the beginning of today's episode. Gary Gendler and the anti-crypto army nearly destroyed the crypto industry by driving Bitcoin and innovation offshore. But Trump saved it.

[00:10:17]America is now the crypto capital of the world and builders and entre entrepreneurs are coming back into the United States where they belong. Under my leadership, we will codify the futurep proof digital asset market structure that cannot be undone by the crypto haters. The new frontier of finance is being built in America and Trump will never let crypto down. Well, what do we know, Johnny Crypto? What's right around the corner? Midterm elections are approaching faster than ever. And we've seen a complete 180 on the Iran situation. And I know we're not going to cover that completely, but the straight of Hormuz is open. The war in Iran is coming to a I'm not going to say a resolution. It's aou. It means there's going to be a pause on some of the firing here for 60 days. We're really going to have to readress this towards the back end of August. But for the time being, imagine we see the 180 that happened in Iran. We get this final push for the Clarity Act here. We've got a brand new Fed chairman. A lot of people think rate hikes are coming. Some contrarians in the room think rate cuts are coming. I think there's probably a better chance of rate hikes based on the current sentiment. But the perfect storm is emerging on the horizon for us to get this institutional push. And this doesn't even include the biggest topic that we're discussing during today's episode, which is the secret letter that Ripple sent to the FDIC less than 10 days ago to make RLUSD insured by the FDIC and held by these traditional banks. All of it's coming together. I couldn't be more excited, but we got to be patient because the people who are kind of staring at the price chart, Johnny, they're the ones who are frustrated right now. 13 cent XRP, it's either an opportunity or it's devastation, right? Doesn't seem like there's a lot of middle ground, but for me it's an opportunity. What's your reaction to all this content?

[00:11:51]>> Well, that's a mistake. That's the mistake right there. You just said it.

[00:11:54]People staring at the price chart.

[00:11:55]That's the problem. Don't stare at the price chart. That's the wrong way to invest. You don't invest in the price chart. You invest in what are they doing behind the scenes to grow the company?

[00:12:02]What are they doing behind the scenes to grow adoption? And if they're growing adoption, then you invest. And then you don't even care about the price you invest in because you know that if you're buying it where we are today pre-adoption you know that post adoption once we get this thing out there and the whole world is running on blockchains you know the price could be much higher.

[00:12:21]So don't look at the price look at look at the the the techn the way you would look at a company and seeing what they're doing whether you invest in it.

[00:12:28]The way I tweak and look at it different from blockchains, I look at what kind of adoption rates, where you know, who's driving them. And the the nice thing is you you said it earlier in the show, and we've been talking about all week is you've got a company like Ripple who at the heart of everything is trying to make sure that no matter what products they're pushing, whoever they're talking to, they're always trying to drive XRP.

[00:12:48]They're always trying to push. They have XRP at the at the center of their interest. Why? Well, because dude, they own 35 billion of them on their balance sheet. No, you want to talk ABOUT A COMPANY THAT has the most highest incentive ever of anybody on this planet. There is nobody, not a single wallet holder has more incentive than Ripple to drive up the price of XRP apps. And that >> really quick because I want you to save all this for the Ripple topic. This is >> I'll save that part. But well, but but getting back to the clarity act piece of it, understanding here that for all these things to be unlocked and happen and for the prices to start moving up, we absolutely need now the good news is the fact that they have, you know, done this 11th hour meeting, I don't know if you remember, but I told you yesterday, the day before, be on the lookout for hopefully that these guys will be trying to get together between now and before July 4th to try and work out some of these kinks. So, this for me is music to my ears. Now remember, I served in politics for six years. I was on the town council. Okay? When you're having meetings like this in between meetings, that tells me there's a sense of urgency. That tells me there is somebody pushing very and it's usually the guy at the top. All right? I remember our first selectman, he'd be pushing and we'd have to go do it because that's kind of how it works, right? So there is no doubt President Trump or people above, you know, at the higher levels are saying, "Hey, we need to get this thing." And they understand the urgency apps.

[00:14:16]They're not fools. They know that the time is running out. The clock is ticking here. This is absolutely fantastic news, at least in my eyes, or at least very positive news, very favorable news, optimistic news, that at least the people that are driving this are recognizing, hey, we got some issues here and we need to have a couple interventions. So, we're going to have this 11th hour meeting right here set up for when is it? Next week. Good. Good.

[00:14:41]11 hour sprint of meetings. And I like that keyword. Not even meeting. Notice that has an s meetings meaning like we'll meet every single day if we have to to get this thing done. That is exactly my friends what we need to happen to have to happen. There's this urgency of people understanding that hey we got this thing we have a limited amount of time. It's hot. It's a hot thing. They understand that. But I think they understand too if we don't get it done in the next few months it could be years before it gets done again. And the fact that they're putting 11th hour meetings next week, right before the holiday, it's a good sign to us. At least we know they are trying everything humanly possible to get it done. Now, what we're going to be reporting folks is when we hear about these meetings, you'll be hearing about it here first on our channel because this abs I'm very very curious to see what we're hearing. I'm sure Elanor Torrett will be on top of it to be able to know what's coming out of those meetings because that, my friend, will give us a good indicator whether we're going to get this thing by the end of August or not once we hear more about these meetings and whether we hear that these three big issues they've been talking about, have these gaps gotten closed or at the end of these meetings a week later, are we still sitting with three issues and nowhere closer? If we are, we're in trouble. But I don't think that'll be the case. I think they're coming to the table because they want to get this thing done and they want to find a resolution. And I've said it from day one. This ultimately works to the benefit of the banks, guys. That's why the Clarity Act is going to be signed here in the s in the summer of 2026. But I want to give a massive thank you to Angus Scrim who said, "Happy Friday.

[00:16:07]Smash the likes and cheers with the one whiskey glass." Now, here's what we know about Angus. During those bullish times, we're going to see two, three, four glasses of whiskey in the live chat. So, massive thank you to my friend and happy Friday to everybody out there. Now, we're going to break down the biggest topic for today, but I wanted to provide just a little bit of context around what we're seeing with the Clarity Act right now. If you're just joining today's episode, we just got the official confirmation. Yes, sprinting to the finish line. We are seeing Clarity Act meetings scheduled for next week. As Punch Bowl News just reported on June 18th, 2026, bipartisan negotiators are preparing an 11th hour sprint of meetings to finalize the key details of the Clarity Act. Now, this aligns with the tight Senate schedule to get it done before the August recess with focus on the Senate Agricultures jurisdiction alongside the banking committee's work.

[00:16:54]Now, the Senate Agriculture Chairman said he's been involved and the sources note that the ongoing efforts despite the challenges like limber limited member familiarity with crypto. Now, I butchered that a little bit, so I apologize, but the point is, Johnny, the people who are creating this bill don't even understand crypto, which is pretty funny. So, we're going to talk about this. I'm realizing we're 17 minutes into the episode. If you're having fun, you enjoy this content, smash that like button. And I want to get into the breaking news topic that Digital Asset Investor reported this morning. There was a letter and we're going to call this a secret letter written from Ripple to the FDIC over the last 10 days or so.

[00:17:30]And it's really important for XRP investors to understand because what Ripple is doing here, they are writing a letter to the FDIC so that the RLUSD reserves can sit in an FDIC insured bank that will allow big companies and regular people to trust the asset uh way more. Now, this will feel exactly like a traditional banking account, and people won't even know the difference between holding an RLUSD stable coin or holding traditional cash inside of your bank.

[00:17:56]Now, when we think about this from Ripple's perspective, Ripple's own national trust bank could also receive faster access to the Federal Reserve system instead of being stuck in the tier three status that it's in today.

[00:18:07]Now, as for XRP, this will impact the demand for the token. More activity equals more XRP is needed by both Ripple and the institutions leveraging the XRP ledger. So with that being said, here's the brand new letter out of the FDI reported by DAI earlier this morning.

[00:18:23]Here's the clip.

[00:18:24]>> 9th, 2026.

[00:18:26]Okay, to this is to the FDI and you can see here this is from right here. You'll see it's from Jack McDonald at Ripple. I I do not think this letter has been found yet, but I just happened upon it last night. This letter, I'm going to show you a couple of the high point. This is from the appendix down here. The FDIC should reconsider the cate categorical exclusion of stable coin reserve deposits from pass through deposit insurance. The Genius Act does not compel a categorical excl categorical exclusion. In response to this question, Genius Act draws a clear and deliberate uh line. Payment stable coins shall not be subject to federal deposit insurance and it's unlawful to represent otherwise. However, protecting stable coin holders against the failure of the PP uh PPSI is a different question entirely from protecting stable coin holders against the failure of a bank where the reserves are held. On the latter question, the Genius Act is silent. The bill's authors are were fully aware of the FDIC's established path through insurance framework and could have explicitly prohibited its application to stable coin reserve deposits if they intended to do so. They did not. That silence should be read as a deliberate choice, not an oversight to be corrected by an agency rulemaker. And I want to point out one other thing here. What have we been showing you for all these years that Ripple that all of this is about systemic risk? I've played you the clips where Chris where Chris Larson sat on stage at Money 2020 that he thought XRP could could help in a systemic situation like the 2008 financial crisis. That's what this is about is systemic risk and they're trying to do everything and lay everything in place. Now I I went to AI took the whole document because there's a lot of legalies in there I don't want to bore you you with. I said summarize this letter in the three key points.

[00:20:24]Here it is. Ripple wants the FDIC to treat tokenized deposits the same as traditional deposits under the Federal Deposit Insurance Act. This means they should qualify for the same insurance coverage up to the standard $250,000 limit per depositor without any special restrictions or different treatment just because they're on chain. This would apply to deposits held by banks or their subsidiaries as reserve assets for permitted payment stable coins like RLUSD or in related activities involving FDIC supervised institutions.

[00:20:56]That's the meat of it, folks. The way this ends and I believe eventually the banks are going to have their own stable coins and they're going to be all on board with it anyway. But we're going to have FDIC insurance. We're going to have yield. They're just doing the baby steps right now and this letter proves it.

[00:21:11]Now, let's make a couple other points.

[00:21:14]This is the Ripple USD Advisory Board.

[00:21:16]Remember Sheila Bear, former chair of the FDIC and founding chair of the systemic risk council.

[00:21:24]Remember that? Why have I been doing this channel for 10 years? Because I keep seeing these people that are involved with Ripple that look like chess pieces that have been put in place.

[00:21:34]>> So, Johnny, why am I playing this clip?

[00:21:36]Because what are we seeing right now?

[00:21:37]Ripple's becoming a bank. That is what they're in the process of becoming here.

[00:21:41]And President Trump's executive order that he wrote a couple of weeks ago highlights how this process is being sped up in real time. There is a 90-day countdown right now in place for Ripple to get access to the Federal Reserve and allowing them to hold their RLUSD stable coin with an FDIC insured bank. That's going to add a level of validity and a level of normality that quite frankly just doesn't exist in the market today.

[00:22:02]What's the difference in holding a stable coin versus holding my cash reserves? Well, I can earn more on my stable coin reserves. And that's what Ripple is positioning to do for their clients. What's your initial reaction to all this and the secret letter that was uncovered by DI?

[00:22:15]>> Well, first of all, I mean to me it makes sense for them to want to request and get FDIC insured borrow USD because this helps them to promote their product so that they can go they can tell all their customers, hey, if you use RL LSD, you go to a bank, it's going to be protected just the way the only reason why people put their money in the bank apps is because they have $250,000 insurance. And that's that's the reason why. But why do you think banks had to put the FDIC in place in the first place? because people didn't trust banks and they needed to have this insurance.

[00:22:42]And that's when people said, "Okay, I'll put my money in there." Well, now think about this. Fast forward to where we are today. We have new currency, new money, no protection.

[00:22:50]Who's going to go put their money in the bank? Who's going to put $100,000 RO USD in a bank if there's no protection?

[00:22:56]Right? So, it makes sense if you're Ripple and you want to be able to promote your stable coin that you're going to try to get banks to be able to, you know, or you're gonna you're you're going to go to the FDIC and ask them to provide the same kind of coverage so that now all banks can provide that protection. So, for me, it makes it now, if you're a bank, it totally makes sense, too. Why wouldn't a bank want that? I mean, to me, the sooner banks get on board with it and they also petition the FDI to say, "Hey, you should do this." the better because banks know or they they should know at some point in time ABS the world is going to be running off and living off crypto and so the question is when it is you want to be able to attract those dollars to your bank just the way you attracted fiat currency in the past now you have to swap you have to say okay well if I don't want to lose money I got to figure out how do I how do I um accommodate people who don't have crypto anymore or don't have cash but are using crypto well you better make sure you've got insuranceances in Because if you don't, I ain't going to go put 100 grand or 200 grand in a Bank of R USD if it ain't protected. So, I hope the FDI approves it because that will really be truly the way to unlock the door for crypto to be accepted by the masses at the banks. So if the banks want to play, it's actually surprising to me that only Ripple is writing the letter and banks aren't also saying, "Hey, we want you also to provide FDIC insurance to to stable coins because we're going to be the ones that are going to be accepting stable coins." Well, ABS, the more FDIC protection they have on stable coins, the more likely are people will put their stable coins in the bank and then banks can continue to operate. They will they will I'm sure they'll do the same thing. They'll loan it. They'll they'll loan out 10 to one even though uh well depending on how they have to it depends on what what the GSA states in terms of how they have to hold it. But the point being is if they want to play and compete with crypto, they're going to need to have an FDIC law in place. So let's hope the FDIC comes through and provides. And the interesting thing is going to be are they just going to say all stable coins are protected or is every single stable coin company going to have to go and petition the FDI for insurance? That's going to be very very interesting to see how this whole thing plays out. And we're going to play a clip right now of Monica Long and Brad Garlinghouse both discussing how everything they're doing at Ripple increases the demand and the utility of the XRP token. But we already have over 2200 live listeners here joining us. If you're enjoying this content and you want some overtime, smash that like button. We already passed 420 likes on today's episode. When we pass 589, we stick around for some OT. But the Clarity Act is having its sprint right now. We're going to need a last second sprint on the like button in order for us to stick around. So, we love and appreciate you guys. Here's a couple of clips and then we're going to get back into some Clarity Act updates. Here it is.

[00:25:32]>> Is there a need for XRP in this mix?

[00:25:35]>> Absolutely. We use a mix of assets for to serve our payments customers. So, including stable coins as well as XRP.

[00:25:42]The the use case for XRP in particular is as it was envisioned by the original creators of the ledger and of XRP and that is as a bridge asset for the longtail of currency pairs. And we're talking about tokenization of other types of assets in the future when you have new types of assets um tokenized on chain. Uh having a really efficient intermediary bridge asset to to make you know any any pair liquid is important.

[00:26:09]You know you know any any pair liquid is important.

[00:26:11]>> Tweet XRP sits at the center of everything Ripple does. Can you kind of explain what you meant by that? Well, I think people I don't understand this, but well, first of all, I think we can all agree there's a lot of misinformation and sometimes disinformation in crypto Twitter.

[00:26:27]>> Yeah, >> that's not great for anybody.

[00:26:29]>> I don't I sometimes think people uh like to paint a picture that is somehow like Ripple's given up on XRP, >> right?

[00:26:36]>> I mean, that that that just doesn't make sense. Like I I mean, for a whole bunch of reasons. I mean, one is >> clear it up. Well, for me that tweet was trying to like let's let's just be very clear when we think about and as I said earlier when we think about G treasury okay so Ripple wants to be in the as a treasury management infrastructure player we now can introduce things like ripple payments ripple payments some of those go through stable coins some of that goes through XRP and that depends upon corridor uh that depends upon currency pair that depend you know we want to deliver the best possible product to a customer at the best price and sometimes that may a stable coin.

[00:27:13]Sometimes it may not. And people I mean frankly some it's not widely known for your audience. There was a period of time where Ripple was minting in 2023, first part of 2023, Ripple was minting 20% of all USDC.

[00:27:27]That was because we were doing institutional payment flows and we used USDC. We also used USDT. We also used XRP.

[00:27:35]I I don't look at the world and say well you know we are not XRP maximalists. We There's going to be different chains for different solutions and different technologies. I think we have to start and I mean this for when I say we I mean the whole crypto industry has to start with what problem and for what customer are we solving.

[00:27:53]>> If we just try to it's like hey I have a technology and I just want to apply it to a customer. It's like well a customer doesn't think about it that way. A customer has a problem. How do we apply the right technologies?

[00:28:04]>> XRP is very scalable, very fast and very inexpensive on a per transaction basis.

[00:28:10]that makes it good for some things and probably less good for other things.

[00:28:13]That's okay. And and Ripple will use other technologies in those in in those situations. But if Ripple can go from, you know, managing tens of billions of dollars of payment transactions to hundreds of billions of dollars of payments transactions to trillions of dollars, and if XRP doesn't have a 100% of that pie, but is still the pie is growing very quickly, like that's great.

[00:28:34]I'm happy. That's a really good place to be.

[00:28:41]So Johnny, this is a very important clip for our listeners because again, what does it go to show Ripple's full commitment to the XRP ledger, but also let's talk about the quiet part nobody's saying out loud? These stable coins are basically indistinguishable from central bank digital currencies. And so when you think about where this entire banking narrative is headed, it's all centered around stable coins. And why is that?

[00:29:01]Because stable coins give these banks more control over consumer deposits and they also give them control over spending. Johnny Crypto, if COVID rolls around, Johnny Krypto doesn't follow the rules. He doesn't, you know, I I'm I'm not going to make jokes. It is conspiracy Friday. I was going to make some vaccine jokes, but we're going to keep it PG for today's episode. The whole point is this. The banks get to control the money through a central bank digital currency, and stable coins provide that exact same incentive for these banks. And like we've showed them several times during our channel, the banks are actually the ones who stand to benefit from the Clarity Act getting across the finish line. But you don't have to take our word for it. Listen to what Patrick Whit had to say.

[00:29:36]>> Very bullish on on this legislation. And many people out there would say that the banks are actually probably more in need of this legislation than crypto is. Uh that bank permissible activities and and Title 4 uh is hugely important to the banks because, you know, in a world in which you start to tokenize a lot of these assets, if banks don't have a clear permission to engage in this, they're going to be left behind. So, >> so there you have it, Johnny. I'm only going to play 20 seconds of that one, but I think the clip is so important because ultimately the reason that the Clarity Act will get across the finish line is because stable coins, they act just like central bank digital currencies. Banks love that. Also, banks now have full access to the tokenization of real world assets. And where does this impact XRP? Goes back to the beginning of that Monica Long clip that we showed. Every trading pair that needs liquidity will have XRP sitting in between it on the XRP ledger. That's where we can see price appreciation.

[00:30:26]That's where we'll see significant demand. And that's just one of the reasons I'm so excited about the Clarity Act. But what's your reaction to these clips?

[00:30:32]>> I mean, first of all, that all starts with tokenization. And as as the world starts to tokenize, you're going to need those bridge assets. And that's where XRP can come in very very valuable. And that's what I love about Ripple putting themselves in a position by by taking over certain companies like G Treasury, Maco, Hidden Roads, and kind of almost inserting themselves into a place where they can be part of that tokenization.

[00:30:54]And we know that the tokenization of rural assets apps can be in the trillions of maybe even quad trillions of dollars be massive. So you know and Patrick R is right at the end of the day if banks want to play in the space they need the rules that give them the ability to do that in the tokenization abs and that doesn't happen in the genius act that doesn't happen in the pit 21 bill that's being laid out in the clarity act. So another reason why to me if you're a bank you would want to see you would want to be working with the industry to put yourself in a position where you can take advantage of these technologies and also find a way you listen banks are not going to want to lose profit right they're going to want to find a way to protect their assets and I think that's what they're they're struggling with banks are trying to trying to balance the line between we're going to lose money here but we can make money here and I don't think they you know have figured out this right balance of what kind of or maybe they have and That's why they're pushing for certain things that they want inside the Clarity Act bill because they know they need them to be able to be successful. And to me, that's probably I mean, these banks are are ahead of the curve. They're usually ahead of the game. So, to me, that's probably the battle that we're that that's going on that hopefully we'll get some resolution to next week in those 11th hour things. But, I mean, listen to Brad. He's literally sitting there telling you it's ridiculous to think that XRP wouldn't be at the center of everything we do because we own 35 billion. I mean, he knows that they built the whole company on XRP. In fact, they went and bought THREE OTHER COMPANIES ONLY BECAUSE of the sale of XRP and they're not done, right? Yes, they got billions in the bank now, but that doesn't mean they're done. It doesn't mean they don't want to see a five, six, seven. Could you imagine a $10 XRP what the valuation of their company be? 35 billion 35 billion coins at $10 3.5. What is that? 3.5 350 billion. I mean, you know, it transforms that them to almost, you know, companies would wish to be worth 350 billion. And if you got that much on your balance sheet, do you know how powerful of a company? One of the most powerful companies in the world.

[00:32:52]>> And this is where the narrative becomes very important when you think about that value being used as collateral when a federal bank.

[00:33:00]>> Bingo.

[00:33:01]>> So that's the endgame that I think people should be focused on when you think about after the Clarity Act, where is this market headed? companies like Coinbase and Ripple and Kraken becoming federally regulated banks and that will drive real institutional demand. That means regular customer and consumer deposits are going to be moving into stable coins and ending up on the XRP ledger. Imagine if I told you that was going to occur just two and a half years ago. This is the opportunity that's in front of us today, guys. Now, we only have about two minutes left in the program. If you want some overtime, we're about 40 likes away. So, smash that like button. If we pass that 589, we stick around for some OT. But Johnny, I'm going to add some context and kick it right back to you because remember Ripple just sent a letter directly to the FDIC and here's what Jay Nispit had to say on the topic here. I think this is a great analysis. Would not surprise me at all to see Ripple Stewart Alderati submit amendments to the FDIC's Genius Act proposal. This could ultimately position the RLUSD stablecoin reserve for favorable FDICinsured treatment at the IDI. This would help move Ripple's national trust bank from a tier three Fed master account struting or sorry scrutiny and fasttracking direct Fed access plus a few month head start against the other crypto competition in the space. Presumably others will ultimately but this pretty much completes the stable coin dollars complete de-risking themselves from traditional dollars from a banking perspective. So having this FDIC insurance would make holding stable coins just like holding the US dollar.

[00:34:30]You could also see BNY Melon act as Ripple's key affiliate partner for reserve custody and compliance under the M new permissible payment stable coin issuer framework building on their existing role as the primary RLUSD custodian. The deadline for comments is June 9th. Now that's an older tweet but again we saw that letter which was filed on June 6th. So at that exact time Ripple gives the framework. All these ducks are aligning. What are your thoughts on that Johnny?

[00:34:57]>> Well I'll tell you what my boy you that boy he nailed it. I mean, he predicted that way in advance that he wouldn't be surprised I'm submitting it. And this is exactly because because it has to be, you know, at the end of the day, if you want people to put their coins in the bank or you want people to put their money in the bank, it needs to be insured. And you and I talked about this a while ago, and I remember saying crypto right now, the the the risky thing with crypto is there's no protection. There's no none whatsoever.

[00:35:22]But abs, I truly believe there will be.

[00:35:24]these banks are going to say, listen, if they're going to accept a stable coin as currency, then they have they're going to have to insure it. Otherwise, who's going to put in the bank? And if the bank doesn't end up accepting it, well, then they're going to miss out on this space. So, it's just a no-brainer that I I I I can't I can't imagine not seeing it come. The question that I'm wondering is how is the FC FDIC going to handle all these different stable coins? I mean, dude, every company in the world is going to have a stable coin. So, the question is like how do you manage that?

[00:35:53]Like do you do just a blanket that says okay all stable coins are >> think about this all those new stable coins will need a liquidity layer even if they choose Ethereum they might choose Salana they might choose Polygon a certain amount of these right a certain amount of these banker stable coins because I don't care about Apple I don't care about Walmart stable coin or stop and shop or Target I care about Bank of America I care about JP Morgan right and those stable coins are going to need a liquidity layer in between to make them interoperable that's where I that imagine if you have a situation and I'll kick it right to you. Imagine you have five billion in stable coin for Bank of America, which they're going to have way more, and you got five billion in JP Morgan. That means you need at least a $5 billion liquidity layer in between at a minimum. That doesn't even include other trading pairs. So, that's the opportunity that and that's where it gets exciting because of that that magnitude that multiplying magnitude where it's becomes exponential where you start all these different banks starting to need liquidity layers in between. And we're not talking five billion. probably more like probably probably 50 billion or 100 billion or 200 billion >> even trillions >> or no question into the trillions at some point as adds up over time and again I'm not assuming XRP is going to get it all but you got to assume they're going to get some of it right and when they get some of that that's certainly going to drive their price up so ABS before we before we end the show I want to give a shout out to Derek Bohoser he says abs my 5-year-old loves watching you and Johnny crypto so THAT'S FREAKING AWESOME SHOUT OUT TO YOUR 5-year-old Derek that's freaking Great. Uh, I'll have to make sure I keep an eye on my >> Well, Johnny, I do want to and massive thanks. Shout out to the 5-year-old. If you put their name in here, we'll give them a shout out while they're watching the episode. But we did get a lab donation. I wanted to address this.

[00:37:30]Steve number two said, "I think all the banks become custodians and exchanges."

[00:37:34]And I I can add to this as well. No one wants to be the first, but nobody wants to be last. So, who better than Ripple to lead after this is approved. Exactly.

[00:37:43]What is Ripple positioning themselves to do here, Johnny? They're going to be this first mover. And you can criticize that, right? But I think it's the reality of the situation, the the in between phase of becoming a full blockchain company and becoming a traditional company. Ripple is that in between phase. You want to talk about the liquidity layers. Ripple is the liquidity layer for tradi getting into blockchain. So that's the whole opportunity. It is conspiracy Friday, guys. We got some great content prepared. We did just pass 600 likes, so I want to give a massive thank you once again. And Johnny, you're going to like this. We are less than 325 followers away from passing the 50,000 subscriber mark. And you guys know the deal. When we pass that 50k, we're doing a very special giveaway here on GEC. But Johnny, floor is yours. Any of your thoughts there?

[00:38:25]>> Yeah, absolutely. One thing I will say is I believe right now, and correct me if I'm wrong, I'm pretty sure Ripple's applying as an institutional bank. I don't think they're going to be a retail bank. I don't think they're going to be out there competing with like Chase and JP Morgan and Mnt. I I don't believe that was their initial plan. Maybe unless that's changed. From what I understand, they're going to be more of that institutional bank handling what you just talked about, the bridge assets between banks with with massive massive, you know, stable coin, which is what we want them to be doing. You know, whether they get into the retail side of the business, from what I've read and what I've seen, I don't think they're looking for that to go that into the retail, at least not out the gate. But it doesn't mean they couldn't over time. But the the real value and the money and the use case and the utility is where you just described is going to be playing that bridge asset in between, you know, the different stable coins, the different exchanges, the different um the pairs.

[00:39:15]And that is where you're going to get way more uh volume in drive-thru institutions than you ever will through retail. So that's why I'm excited about it. And what do we say about 45 days away before we get a response from them in terms of that. So we're very very close apps. You could see like we talked about, everything's just lining up, my friends. It's all just lining up perfectly. You just got to have patience. You got to sit back, set it, and forget it, and just let this stuff happen. And I think abs, we're going to be in a Somebody said that 5-year-old is going to be a million, gonna be very, very rich someday. That's so true. And >> that's what I'm preaching here. It's like, we all just sit back and wait. One day, you're gonna wake up and your crypto accounts are going to be way, way, way bigger than they are today. Uh but you just have we just have to we just have to give the politicians unfortunately right now I hate to say this but this industry is in the hands of those 14 15 politicians and we need them to come through in those meetings.

[00:40:09]So keep your eyes on those meetings next week uh guys and I know ABS will be for sure we will be uh because that is going to be really I feel like the lynch pin for us to be able to kick all of this stuff up that we're talking about all this excitement abs all these things we're talking about they're all just just all waiting this is why the industry is exciting because they see the transformation of the monetary system right in front of us of course we just need the clear act to be able to turn it all on >> well even more important guys look at the context here what's already happening Johnny June 28 8. What's happening? Swift is going to full realtime settlement 245. So 5 days a week, 24 hours a day. But then just two and a half weeks later, the DTCC is going live with their tokenized pilot on the XLM network. And for our listeners, I know a lot of them hold XLM. That has been continuing to perform very well during these bearish times. Like look at the XLM price chart holding 22 cents. I saw this thing as high as 24 cents last night. Wouldn't be surprised at all if over the next couple of weeks while the market may be trading sideways, XLM continues to outperform. It already passed Cardano, it passed Canton, may even get up here to that Dogecoin top 10 territory. I wouldn't be surprised whatsoever. But the important thing that our listeners need to walk away from this episode understanding is that there is a last second push going on behind the scenes to get the Clarity Act across the finish line. And the main reason for that is that the banks are already in the process of using these technologies.

[00:41:29]It's not about speculation. It's not about price charts. It's not about making value go up on these blockchain protocols. It is about the banks adopting blockchain and inevitably that increasing the price on the back end.

[00:41:40]Now, we just referenced this. June 28th, Swift is going live with real-time settlement. July 15th, the DTCC is going to be going live with their tokenization pilot. Now, in October of this year, those products are scaling up. I think the Swift's uh pilot is scaled up at the end of November. And the DTCC starts October 1st. they go full-scale real-time settlement with the tokenization of real world assets. How are they going to do that without clarity? How are they going to do that without regulation? I don't see a situation where it's possible, right?

[00:42:09]And this could be the thing that we're not supposed to figure out here on Good Evening Crypto. They want us retail investors to look for guidance, but instead we're here doing our own research. We're drawing our own conclusions. And if I look at the writing on the wall, Jaime Diamond does one thing on Fox Business, but then his company operates in a completely different manner. So why would I pay attention to what happens on Fox Business? Why why aren't I just going to look at how these companies are operating instead? And if you look at how these companies are operating, Johnny, it's all about blockchain.

[00:42:34]>> No, you nailed it. Spot on. Exactly.

[00:42:35]Don't watch what they do on TV. Whatever they tell on TV is all lies. You got to like coach O say, don't listen to what they're saying. Just watch what they're doing. Do what they do, not what they say. So true, right? At the end of the day, and I I couldn't agree with that that ideology more is follow follow those the actions. The words are cheap, but the actions are what matter. And we are seeing all these things come in place. And the question is exactly I question that as well. How can you go be moving forward with all these things if you don't have clarity coming? If you don't have the clarity act coming it tells me one of two things. Either they feel like they've already done enough um assessing of the technology to understand that they don't need the clarity act for this particular thing they're trying to do or they feel that you know they've got the president's assurances and everything else assurances that this thing is coming and and that it's going to be there. But to me I I'd be very very surprised if we end up seeing this stuff happen without the clarity act. To me, I still feel like we will get it and we'll get it by the end of the summer.

[00:43:29]>> Well, this is the endgame, Johnny, because I don't want to steal your thunder here, but I think the reality is that if we're correct in our conclusion, then price appreciation is inevitable, right? That's the real endgame. If we're correct in our assumption that clarity gets passed, tokenization goes wild, stable coins are minted all over the place, and then the XRP ledger is sitting there as a liquidity layer, you need significant price appreciation. it cannot operate as that liquidity layer at a $1.14 price target. It's just not deep enough. So that's where this whole thesis really comes to mind for the XRP community because people may be wondering why are we going over the Clarity Act again because this will be a defining moment where XRP can finally see utility and not just for the short term but for years to come. But we are in overtime for today guys. We're at 630 likes. If you're having fun, smash that like button. Help us pass 700 likes during the overtime portion of this episode. And we're gonna rely on some older statements from Brad Garlinghouse here, but this is Brad talking about how Ripple and their ultimate goal is to compete with Swift. Here it is.

[00:44:28]>> I think what we're doing and executing on a day dayby-day basis is in fact taking over Swift in that, you know, we've now signed up well over 100 banks, some of the largest Swift enabled banks in the world are now using Ripple's technology. Uh I mean just last week we saw a a remittance company who's using Ripple's technology. They reduced the price per transaction to their consumers from $20 per transaction to $2 per transaction and they saw an 800% increase in usage overnight. That's the type of dynamic that Swift isn't able to support that we're able to address right now. And one of the former board members of Swift, a gentleman name Marcus Tree joined our team to run all of customer success. And you know, this was, you know, a former board member from Swift coming over and saying, "Hey, we we don't think Swift's going to be necessarily a solution to really unlocking this internet of value." These are, you know, marks along the journey.

[00:45:22]>> So, Johnny, I thought that was really important. Marcus from Swift came to Ripple and says, "Swift's not getting it done. I'm coming over to you guys."

[00:45:30]That's the writing on the wall here. We are closing in, guys. If you're having fun, smash the like. We are going to be around during this uh weekend, but I want to remind you guys when we pass 50,000 subscribers, we're going to be doing a special Saturday night live stream for that giveaway. So, I would encourage you all to stick around.

[00:45:44]Johnny, what's your reaction to what Brad had to say and how this all connects to the narratives we're breaking down right now?

[00:45:49]>> Well, I mean, you know, listen, they designed it to to replace Swift and back then when that was going on, they were signing up banks and they were seeing momentum and it was happening. Of course, since then, Swift called wind of it and kind of had said, "Hey, we need to get our together, too, and start playing." I think what's going to happen at the end of the day is they're going to end up kind of coexisting. I've always felt it'll be a coexistence and working together. It makes the best sense. Uh because I don't think Swift is going to go away. They're just too ingrained in the whole entire system.

[00:46:14]And and Ripple has the right technology.

[00:46:16]So, you figure the best thing is pair the two together and you get the best of both worlds, right? And we know that already through through some of the companies that Ripple's bond that they've already kind of injected themselves in between the transactions along the way in the pipeline of how this how money is going to move in the future. So to me I think Ripple has evolved and realized like okay we're not going to be able to not we're not going to be able to u cannibalize or eliminate swift altogether but we can we can work with them and that's a much better scenario actually abs um in terms of being able to put the technology to work you saw that we've always talked about cheaper better solutions right what I told you companies all want cheaper better sol he just described exactly how it was cheaper and better right it's cheaper and faster so those those uh characteristics still exist today which tells me that Ripple and XRP in the long run is going to find its way into this space or into the world into these different companies into these institutions. The question is how big and how much volume is that going to lead to and what is that going to be interpreted in terms of value on the XRP ledger and then ultimately how does that translate to XRP price appreciation and like you said you can't be having this thing at a dollar if you're trying to move hundreds of billions of dollars.

[00:47:22]We're going to have to be at a much much higher number.

[00:47:24]>> I completely agree with that and even I'll take it even one step further. If Ripple is going to complete their goal and accomplish their mission, where XRP sits today is a fraction of the value it needs to be. I would even go as far as to say it's like pennies on the dollar in comparison to where it will be over these next couple of years. But I would encourage everybody guys, use the time in the bare market to build your portfolio. Find some tokens that you understand. This is not financial advice, but this is what I do, right? I study a couple of projects. I fully understand those projects. I know why the price will increase. I understand the utility. I believe in the leadership team and those are the products that I go all in on. I don't like this diversified approach where people buy 50 tokens, they bet on meme coins, they're they're speculating on assets outside the top two, 300. It's a dangerous game to play in the crypto space. And I would encourage you guys double down on your research. Keep tuning in to shows like this so you can stay engaged. You know what's going on. But most importantly, understand the endgame. The endgame here is traditional companies adopting blockchain products and bringing all that traditional value onto these public chains >> and and you know abs not only do you have to understand that right but then you want to have the right tools to put things in place to do that right and today I'm happy to make a big announcement with anybody who has Merlin today abs we are launching our entry tool which means folks as AB said you want to build in the bare market well guess what as of today if you're a Merlin user you will now have in our pro package and everybody who has a 30-day trial will also everybody's gonna get 30-day you will be able to now use our entry tool to be able to create targets on when to buy in. So, if you were struggling when should you get in, no longer have to struggle. You can use our Merly entry tool and it will give you price predictions and it will show you entries where you can get in um just as well as getting out. So, you can build your whole entire plan in Merlin.

[00:49:07]Everybody gets 30-day free use. Click the link below, sign up for merland crypto.com. And then, guys, don't stop there. If you want to do it right, then you go and you create your iTrust Roth IRA account, purchase some of your crypto in there, and now you're set up for tax-free growth and gains abs for the rest of your beautiful human life. I don't know what more there's nothing that sounds better to me than tax-free money, right? At the end of the day, taxree earnings, taxree grades, taxree profits, and just, you know, that's the way to do it. You can sign up to an IT trust capital account. They got one of the best products in the world with the Roth IRA. You can buy crypto in there.

[00:49:40]And by the way, you can also buy silver and gold in there, too. You can buy precious metals in there as well. Um, and all that growth and all that gain stands up there. Thank you there, Seattle Sonic KG there. Uh, it's about time. Do it for abs. I know he's pissed.

[00:49:53]He says I don't tell him the top. He just had AB Merlin. He could have got out on the way up. But nonetheless, the point being is guys, we're giving you the tools. We give you the information.

[00:50:02]Now you have to just act on it. And I couldn't agree with you more, Abs.

[00:50:05]There's no better time to act before the storm gets here. You don't want to be You don't want to be preparing for the hurricane when it's here, right? you want to preparing before it gets here and I can't that's the way I think about crypto right now while things are moving slow this is the time to get all your ducks in a row get your entry points use Merlin buy your crypto get in a Roth and you'll be all set up and ready to go so you now can profit when these markets start to take off and we know clearly the act is just around the corner if it happens >> 100% and here's the thing I want to make sure I squeeze in guys you don't have to go all out and use all these products if you don't want to these are for people who want to take their portfolio and game to the next level. And I just want to encourage you guys, Merlin is completely free for 30 days. If you click on it, check it out. I trust scroll through their website and check it out. But at the end of the day, if you don't use these products, it doesn't matter. What we're trying to do is share ways to be successful. And that's what I wanted to highlight during today's episode. So, if you want to take your game to the next level, check out Merlin. I use Merlin. I haven't even tried this entry plan, so I'm pretty excited. If it's not good, I'm going to come on here. I'm gonna say it's not good, but I'm very, very sure that it will be. And I'm teasing you, Johnny, of course. Um, guys, I do want to give a huge thank you. We got nearly 3,000 listeners here. We're having fun. It's Friday. I would encourage you guys, stick around. Join us for our Saturday, our Sunday shows. Turn your post notifications on because the reality is the billionaires and the multi-millionaires like Johnny Crypto below, they built their portfolios during times just like these. And I'm going to be doing the exact same thing.

[00:51:30]So, we love you guys. We appreciate you all. If you had fun during today's show, smash that like button. I want to give a special shout out to KG. He said he's going to be joining IT Trust just for me. So, big thank you. Dinner on me, my friend. Whenever we see each other, but we love you guys. We appreciate you all.

[00:51:44]Go out, touch some grass, hug some family, enjoy the weekend. We're going to be back on Monday with some great content to cover. I'm sure of it. We'll see you all in the next one.

[00:51:53]>> 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 Merlin link below and sign up for IT Trust Capital as well. Now, why are our listeners going to do this? By leveraging the Merlin application, you can create a profit plan for yourself so you know exactly where you're going to be exiting this market. But leveraging iTrust through a Roth IRA product, you can take advantage of tax-free crypto gains during this crypto bull market.

[00:52:18]So, I would encourage everybody, click on the link down below, sign up for iTrust today, and take advantage of our $100 free signup bonus.