Bank Of America Signals Major Crypto Breakthrough… XRP Was Built for This!?

[00:00:00]Yo, what is up guys? XRP is at $1.09 right now on CoinMarketCap. Our first tweet comes from the Crypto Squad. Bank of America and Ripple. Reports claim Bank of America now represents 7.5% of Ripple's treasury liquidity. If confirmed, it would be another sign that major financial institutions continue strengthening their ties with Ripple.

[00:00:17]The institutional era is just getting started. Our next tweet comes from BankXRP. Senator Warner's blunt take on Clarity Act negotiations. I want America to lead in digital assets, but if we get it wrong, the downside ramifications could be huge. Still committed to getting it done, just not at any cost.

[00:00:34]Clarity Act stakes just got real. Let's watch this video.

[00:00:37]>> It it would be concerning, yes, Senator.

[00:00:38]>> Good. Um, I intend to work with you and and and the secretary, you know, I want this done.

[00:00:45]And I am tired of being in crypto hell.

[00:00:48]>> [snorts] >> But we got to do it in a way that doesn't make this circumstance worse. I want America to lead in digital assets.

[00:00:54]But if we get it wrong, the downside ramifications could be huge as well. I also want to hit you with >> Smash that subscribe button and hit that like button if you believe XRP will reach $3 again this year. Our next tweet comes from Crypto Barbie. Justin Clarity Act Senate floor vote to come next week.

[00:01:10]Says former CFTC Commissioner, it's happening this year. Our next tweet comes from Crypto Barbie. Ripple director has revealed that financial titans like Mastercard, BlackRock, and Franklin Templeton are showing interest in the XRP ledger. All these institutions are waiting for the regulatory green light. The Clarity Act will fix this. Let's watch this video.

[00:01:28]>> Well, what does this mean for XRP holders? Do you think it's like a bet on XRP is a bet on this infrastructure for the future?

[00:01:36]>> I think that first of all, the important thing to remember is the the XRP ledger >> Mhm.

[00:01:40]>> is an L1 decentralized protocol, where the XRP is the bridge currency to complete a lot of the transaction and a lot of the settlements that are taking place on it.

[00:01:48]>> Mhm.

[00:01:49]>> So, it's kind of like, you know, before you look at it, what we do look at it obviously is an asset to hold, but from the other side, it is an extremely essential functional pillar within the wider XRP ecosystem and with the ever-increasing list of use cases, products, and offerings that are being developed for the financial service world.

[00:02:06]>> Mhm. Okay. Can you sort of give us some sort of example? Right, there's been a a lot of big names, Visa, Mastercard, BlackRock, we've had Franklin Templeton all in the building over the past two days. Are they showing an interest in XRP Ledger?

[00:02:19]>> Absolutely. The XRP Ledger again was designed from inception to support different use cases around cross-asset transparent payment. Well, so there was, I think, one of the first ledger that was launched, like I said, in 2012 from inception to support this industry. So, it has a lot of features that are pre-embedded on the native protocol level that supports enterprise-grade use cases, whether this is the pre-built IMM, the pre-built DEX, the ongoing long list of additional product roadmap that we have to support KYC aspect, to support trust lines.

[00:02:49]>> Yeah. Well, that's they all they like that, isn't it? So, from the foundational building of this, you are kind of possibly working within regulatory frameworks or within a sort of the prospect of future working with regulatory frameworks.

[00:03:02]>> Absolutely. This is the blockchain built for the financial service.

[00:03:06]>> Our next tweet comes from Ripple City.

[00:03:07]Just in, Grayscale highlights Ripple's partnerships with Mastercard, JPMorgan, OKX, and Ondo Finance. Our next tweet comes from Crypto Barbie. Huge. Ripple CEO Brad Garlinghouse says about the Clarity Act, "When people are at their peak frustration, that's when they find a compromise and it gets done. I think we're there. Next week could be massive.

[00:03:26]Let's watch this video."

[00:03:28]>> I think what happened 2 weeks ago at the SEC and CFTC coming together with a joint statement was truly groundbreaking and in a bunch of ways. And from my point of view, it ended, you know, an era of lawfare against this industry, which turns out didn't have the support of what the law actually said. So, I think that was profound.

[00:03:49]But, I also think we have to recognize that without codified legislative permanence you still have the risk that the next version of the SEC comes back to Gensler's unlawful war on crypto. And I think that's bad for the United States.

[00:04:06]I think that's it's bad policy. It's also bad politics. And what we've seen certainly as we come up to midterms is you know being anti-crypto doesn't get you any votes.

[00:04:16]Uh there's a lot of people who care about this industry who are directly or indirectly involved. And you know I think that's why you know some of the voter education in the last cycle was impactful. So I am still optimistic the Clarity Act. I think it does still matter despite the CFTC and SEC coming together. Uh I think the time is now.

[00:04:38]Uh I I would say I'm probably not quite as optimistic as I once was but some of the smartest people in Washington insiders that I know have said to me when people are at their peak frustration that's when they finally compromise and it gets done. I think we're there. I think we're there.

[00:04:52]>> Our next tweet comes from Crypto Barbie.

[00:04:54]Huge news. 50 out of 52 Republicans will vote in favor of the Clarity Act. Next week will be massive. Our next tweet comes from Crypto Barbie. Clarity Act update. The Clarity Act would prevent any elected official from issuing or promoting a digital asset. Let's watch this video.

[00:05:10]>> 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 billion from crypto-related 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.

[00:06:00]>> President has made you know, billions in his family off of this.

[00:06:04]We're going to suddenly go forward and say, you know, elected officials can take advantage of that situation going forward?

[00:06:11]I think that would be pretty outrageous.

[00:06:13]>> 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. The 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.

[00:06:47]>> Our next tweet comes from the Crypto Squire. Loomis pushes again. Senator Cynthia Loomis says that if something is truly decentralized, it shouldn't be regulated like a bank. She also says it took years of work to reach this point and urges Congress to pass the Clarity Act. Clear rules build stronger markets.

[00:07:03]Our next tweet comes from Bank XRP.

[00:07:05]Clarity Act at the one-yard line.

[00:07:07]Blockchain Association CEO Summer Mersinger says votes could come early as next week. 60 votes needed for closure.

[00:07:14]Ethics language then someone is still missing from the Mer draft. Closest crypto market structure has ever gotten.

[00:07:20]Let's watch this video.

[00:07:21]>> Or they can go to a vote. Expecting a vote next week, um, probably early next week. So, and that will really be, you know, that's that's kind of the test, um, you know, to see if we've we've got 60 votes to invoke cloture on the motion. So, we're at the like, you know, I'm like, we're at the 10-yard line. We're at the one-yard line right now. And I feel like we can we can get it across the the finish line.

[00:07:48]>> Our next tweet comes from the Crypto Square, Clarity at a Crossroads. The path to 60 Senate votes is getting tougher. According to comments highlighted by Charles Schwab, the debate is no longer just about XRP and crypto. It's also about politics and ethics. The next few days could be decisive. Our next tweet comes from Crypto Barbie. Wow, US Senator Mark Warner comments on the Clarity Act. I want this done. I'm tired of being in crypto hell. I want America to lead in digital assets. It needs to be done until August 7th before August recess.

[00:08:17]Let's watch this video.

[00:08:18]>> I just cuz I do want you to hear this.

[00:08:20]You know, as as one of the first bipartisan groups still trying to get a Clarity Act done.

[00:08:25]Um We we touched on this briefly.

[00:08:29]You would not want a Clarity Act that increased the ability of illicit finance to take place suddenly with the blessings of law, would you?

[00:08:38]>> Um well, thank you, Senator. I mean, it's vital that the Clarity Act provide tools >> a little closer?

[00:08:43]>> It's vital that the um that the Clarity Act provide rules and tools for the Treasury Department um and the administration to be able to counter illicit finance >> you would be concerned if the Trump Department of Justice with technical assistance said that the the standard proposed by industry and some of my Republican colleagues would actually make it easier for illicit finance to take place. This has just happened in the last couple days. We That would concern you, wouldn't it?

[00:09:11]>> It it would be concerning, yes, Senator.

[00:09:13]>> Good.

[00:09:13]Um I intend to work with you and and and the Secretary, you know, I want this done.

[00:09:19]And I am tired of being in crypto hell.

[00:09:22]But we got to do it in a way that doesn't make this circumstance worse. I want America to lead in digital assets.

[00:09:28]But if we get it wrong, um the downside ramifications could be huge as well.

[00:09:33]>> Real quick, if this helped, press the like button. It tells YouTube to show this to people who want the not hype.

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