¿Trump acelera la adopción?

Añadido: 2026-05-22

[00:00:08][music] [music] Hello, welcome back. Uh, Wednesday, May 20th and here we are in another session of Crypto Insites.

[00:00:46]Welcome to the audience. Please tell us what country or city you are from. And if you think these live streams are valuable, subscribe, turn on notifications, and let the algorithm know that this is valuable to you. And well, we have Eduardo and Raúl here again. How are you? How are we?

[00:01:07]How are you, Fran? It's a pleasure to be here with you. Edo, how are you? It's a pleasure to be here with the entire audience. Can you hear it, Fran? Can you hear me, Fran?

[00:01:18]Listen. Yes, it can be heard.

[00:01:19]How odd. How is that possible? I don't listen. Let me unplug the microphone here and plug it back in. Sorry.

[00:01:26]Excellent. It's a pleasure to be here with all of you. Okay, as Fran was saying, tell us where you're visiting from while Edo fixes his microphone.

[00:01:36]But anyway, it's a pleasure to be here with you in another episode after so many years. Fran, how are you?

[00:01:45]Very well, eager to comment on everything that is happening, which is quite a lot, as always. And if you don't mind, while Edo, I don't know if he can hear us anymore.

[00:01:56]Yes, yes, I'm listening now. Can you hear me?

[00:01:58]Perfect.

[00:01:58]We listened loudly, good morning, good afternoon everyone. Yes.

[00:02:03]And well, we were just talking here, I'm going to start by sharing the screen and we'll get straight to the news if it lets me. Uh, well no, it won't let me. As you know, my internet sometimes acts up, but basically, let's start perhaps with this other news item. Can you hear me?

[00:02:26]Yes, yes, we hear you.

[00:02:28]Uh, while this is being shared, the White House [clears throat] is close to announcing a, well, Zero Hedge echoed this and said that we are about to announce a strategic Bitcoin reserve, which we must not forget is in addition to the strategic reserve, there is the stock pile of digital assets. The timing is quite striking. So, what do you think of this ad? Now we're going to talk about more things that have happened in the last few hours, in the last, well, the last 7 days, but what do you think of this announcement? We've mentioned it before, but well, it seems to be more obvious now. Do you think there will be any surprises? What are your feelings?

[00:03:13]Well, personally I don't think it's a surprise, in fact we've already talked about it many times and more than a surprise it's part, I think, of the plan for crypto adoption towards where it's headed. Hey, wait, we need to separate what the strategic reserve and the value reserve are, right? They are completely different things. A strategic reserve is something that accumulates over time to later deal with events that could harm the country's economy, right? So, that's the strategic reserve; it has nothing to do with the store of value, which is, for example, gold and all these assets, right?, that reserve the value that is currently held. So they are two different things. However, this is something that had already been discussed with several cryptocurrencies that had already been linked; they are just, let's say, formalizing it a bit more, right? We had already discussed this and they are taking it towards the future, right? What is the future?

[00:04:27]Well, how are we going to adopt the crypto world, the world of blockchain, and how are they going to bring it into the traditional financial infrastructure? That's my opinion. Edo, I don't know if you can hear us anymore.

[00:04:42]Yes, yes, I'm listening. Can you hear me okay?

[00:04:45]We can hear you well.

[00:04:46]Perfect, perfect. I used to have a problem, I don't know why I didn't just listen to Raúl, I listened to Fran, but now I am listening. Well, I completely agree, Raúl. I don't think that's anything new either. There has been a lot of talk about strategic reserves of digital assets for over a year now.

[00:05:02]I think that even before Trump came in it was already a much-discussed topic. Of course, this has become more established since Trump became president of the United States, and I believe it is necessary for countries to have their strategic reserves, and I'm not talking about Bitcoin, I'm talking about assets that have real-world utility, because we are entering a completely different era.

[00:05:28]I even had an interview with Nathan yesterday. I don't know if you know Nathan from Cash News, he has over 300,000 followers on Instagram, he's one of the biggest XRP content creators on Instagram. And what he was explaining is very interesting, isn't it? Because if we had this conversation 5 years ago, we wouldn't even be talking about that intersection of blockchain with artificial intelligence, which is also something that will drive countries to have more strategic reserves of digital assets. We have had that intersection with artificial intelligence for 5 years now, and right now we are reaching an intersection where there is almost an imminent collision of digital assets with artificial intelligence. So it's more of a use, more of a reason why countries and central banks will have to establish strategic reserves of digital assets also because it will be necessary in this new economy that we are arriving at. We are entering a completely different economy, something we had no idea could happen 5 years ago, for example, with more transactions executed by robots than by humans.

[00:06:46]It's something that's no longer so far off.

[00:06:50]Very, very good points. Well, I think we're going to be surprised, not with the strategic Bitcoin reserve, but when the United States declassifies its holdings of digital assets, something that isn't public yet, we do n't know. Well, there isn't a complete track record of everything it has, plus there are several NDAs in the process and Ripple seems to be one of them.

[00:07:15]Hey, it's going to be interesting when the L Clarity is tested. One of the requirements is that no project has more than 20% control of the total supply.

[00:07:30]So, in theory, Ripel will have to, in quotes, either undo or inform the authorities who the real owners of the scroll, the remaining part, or the distributions are, or cede part of it, right? As the Latin American explained, converting to doing through, well, through the concept of a free vendor, giving away part or all of the scrollow to the United States government without any compensation in that sense so that there is no bureaucratic problem. That's why that's the concept of a free vendor. If it has to be sold, then it involves a series of bureaucratic processes that complicate the situation.

[00:08:12]And the interesting thing will be to see what the United States does next with that scroll, whether it gives it back to the International Monetary Fund or whether we're going to [clears throat] see what happens through Japan, right?

[00:08:23]I see two possible paths: one is that Japan [clears throat] will be one of the first countries to adopt it, something that seems to be happening, and Japan and the United States are going pretty much in tandem in terms of regulation and adoption. On June 1st, Japan accepted the use of stablecoins as a payment mechanism in Japan, which suggests that Japan and the United States are moving in tandem. In fact, this shouldn't surprise us because the US is a major trading partner and they are mutually dependent, aren't they? And this relates to the next news item you're already seeing on screen, which is Trump ordering the government and the Federal Reserve to review cryptocurrency companies' access to payment networks, master accounts, right?

[00:09:08]Donald Trump's executive order requests the Federal Reserve to review how depository institutions can be granted access to payment services, an area in which the cryptocurrency industry is deeply involved. That is to say, not only here we see, to give some context, how Ripley is asking for a master account at the Fed and how now it is Trump who is pushing the Fed to do the same, right? What do you think of this news? In other words, they're putting pressure on two fronts, right? Through requests and through government channels.

[00:09:41]What reflection would you like to share?

[00:09:45]Personally, I think it's necessary to somehow provide certainty about how to connect the new world, the crypto world, with the traditional world, and especially with the Fed and these big banks, because not just any company will be able to connect to financial institutions, right?

[00:10:09]Payment networks need certainty and security, right? So, these companies are going to have to meet certain banking-grade certifications, that's what it's called, in order to connect to all these ecosystems.

[00:10:28]For me, it's just one more piece of news, one of all the things that are necessary to connect all these payment networks. Well, we already have a complex payment network within the entire financial infrastructure, right? Not only the Fed, not only central banks, but also—what would be like the tip of the pyramid—but also a middle network, right?—which could be from Visa, Mastercard, Swift, how they connect with all the liquidity, how they connect with the banks, how they connect with the user.

[00:11:00]So, I think all of that has its level of complexity. I mean, personally I don't fully understand all that part of payment networks, but I do know quite a bit about how payment networks work, and this leads to the Federal Reserve being connected to central banks. What is happening now is that the liquidity pool, which was previously controlled by central banks, is now being outsourced.

[00:11:33]Now it will be managed by a third-party company, therefore, that third-party company has to be connected and even somewhat controlled by the government, right? To prevent any deviation or anyone wanting to deviate from the process, do not do anything that is not planned, that is not within the narrative. So, I believe that this access of the crypto world to payment networks is necessary, but it is necessary with certain conditions, right?, for it to apply in companies. So, how they're going to do it, I think it's interesting because from my perspective they're only going to use a couple of brands, a couple of companies that connect this whole new world with the crypto world. Edo, I don't know what you think.

[00:12:27]I think it's more a sign of the intersection of digital assets with the traditional financial system, and I think that goes far beyond just the United States. We often pay close attention to what's happening in the United States with the Clarity Act. I think it's all connected, but ultimately, what I see is that the technology is ready for adoption, but they need to align its introduction with regulation. What they're doing in the United States, in my opinion, is preparing the regulation of this intersection of digital assets with the traditional financial system. But at the same time, many people are thinking, "Why is it taking so long?" And what I notice is that they are coordinating globally with central banks around the world, as we saw in 2019, 2020, these central banks are extremely coordinated and what I see is that many people still don't understand when, for example, the utility market is going to start. And what I see is that they don't want any leakage in the financial system. Leakage, what would that be in Spanish? Leakage. Yes, no, they don't want infiltration into the financial system precisely because they need everyone to be coordinated simultaneously.

[00:13:55]If you're going to have CBDCs in the United States, you need the Bank of Japan to have CBDCs as well, and you simultaneously need South America to have CBDCs. So, I think they are preparing the regulatory ground for this transition, which will be a transition that I believe will not take more than three or four years to be 100% implemented.

[00:14:19]Very, very good points. Uh, that's related to the next news item and it's just what you mentioned briefly, something that's nothing new if you follow us. Despite President Trump's public opposition, a US central bank digital currency ( CBDC) is inevitable and is being studied behind closed doors, according to the former chairman of the CFTG, is n't it? That's why we always say that famous phrase, " Don't pay attention to what they say, pay attention to what they do," right?

[00:14:50]Ripple, through, well, has used Palau and Montenegro as a testing ground to develop both the digital euro and the digital dollar.

[00:15:03]We're talking about quite a few years ago, so this isn't in the trial or testing phase, it's been thoroughly tested. They've been preparing it for many years, and from my point of view, they're going to use a liquidity crisis to implement it, aren't they? And where the villains of the story will be the commercial banks and the saviors of the situation will be the central banks or the state. The concept is simply a bell; we've covered it many times. And in previous crises, something like what happened in Cyprus in 2013, in previous crises what we saw was how funds came from outside to rescue the battered accounts of the banks. In this case they are going to go after the customers' deposits, and it is in fact legal. Is it legal for the European Central Bank to confiscate more than €100,000 per customer per bank? And in the United States it's not €100,000 or $100,000, it's $250,000.

[00:16:00]And that ensures you're FDIC certified, right? Fire Insurance Company.

[00:16:06]So the question, or the scenario, is an ICE 9, as Jim Richards describes it, and in that context where payment mechanisms are frozen, banks confiscate part of customers' funds, and the government tells you, "Look, what we're going to do is give you a digital version of the euro you had before or the dollars you had before, and in return, maybe we won't give you 100%, but maybe we'll give you 50% of what you had, right?" So the option of choosing a new currency doesn't exist; it's going to be imposed on you, right?

[00:16:41]We didn't decide, nobody decided that we would use the euro, or specifically the euro, right? It's been imposed, rather. So we have to think about that same reasoning, we have to extrapolate it to the digital euro and the digital dollar.

[00:16:57]I've gone on a bit in the answer, but what do you think? I don't know if this news from the former president of the The CFTC leaked that they're actually developing a CBDC behind closed doors.

[00:17:12]I think the development of a CBDC is, I mean, inevitable. In the end, they did tell us, "No, no, there's no more CBDC, now we're going to paint it pink and do a test called a Stable Coin so that it somehow tells you that the government isn't controlling it, but it's the same thing, is n't it?" In other words, it's really exactly the same. The difference is how you program it, right? It's really a CBC painted pink, and maybe they're already testing it, right? They are testing it from a different perspective. Stable coins are being tested from the perspective of, well, let's implement them in the financial ecosystem through international transfers and then it will tell you, well, the digital euro or the digital dollar, right? But I think that for what they've always planned, we were just watching a video at the academy a few months ago, from 8 or 10 years ago, if I remember correctly, that talked about the end of money, right? And it's a Dochevele documentary from quite a while ago that talks about all of this, isn't it? of the financial infrastructure, how it's changing the purpose of money, and I think that's part of the implementation, right? The CBDC has already been tested in some way in China. Then, as you say, Fran, with Ripple in Palau, in some small countries that are pegged to the dollar. Then we tested it as a stablecoin to make it a bit more widespread, and we just made two or three adjustments to connect it to another approach where it's controlled by the government, and that's it, the stablecoin to CBDC is practically zero or a tiny step, right? So, I think announcing it is part of what's to come. Obviously, for the system to work, as you rightly pointed out, Fran, it needs more than just me having the digital dollar, right? But my counterparties need to have the digital euro, the digital yen, so that it can work, right? So that it can be a global ecosystem. And that brings me right to the idea of ​​why Trump was in China, right?

[00:19:45]And how curious it was because the Chinese visit was applauded, it was very cordial, even, right?, with certain military protocols that had been rarely seen between heads of state from the United States and China, right? So, perhaps what's behind it isn't just a state visit, it's not just about coordinating, making sure everything happens and that everyone has their CBDC, that everyone has their digital system and how the world connects, right? Because nobody benefits from economic problems in the world, right? So, if everyone at the top agrees, then everything will really flow effectively. So, I think it's part of that.

[00:20:34]Everyone at the top agrees. Now CFTC, communicate it, there's a scenario where everyone's going to start listening, right? The term CBDC, if there is rejection, well, we'll paint it purple and call it something else, but what does it come from, I think it's definitely coming towards the future. I don't know what you think, Edo. I completely agree, and we've explained this many times, haven't we?, that his actions are not aligned with his words and ideals. Because, for example, we have Donald Trump telling us that there won't be any CBDCs in the United States, while the same president is having dinner with executives and the CEO of Ripple. There's already a controversy there, is n't there? If I were an opponent, I'd be asking myself questions, wouldn't I? Because they are walking together while he is publicly stating that there will be no CBDCs in the United States.

[00:21:36]Simultaneously, the United States government is working to pass The Genius Act, which is 100% related to stablecoins. And I'm going to remind you again that stable coins and CBDCs aren't very different; they're both forms of programmable money with reversible transactions.

[00:22:00]It's quite interesting because if we look at World War II, many countries used to distribute food vouchers, meaning you could use these vouchers in exchange for food, and that was a way to be 100% certain that the person would use their money, their voucher in this case, only for food, right?

[00:22:25]And we'll see the same thing with the subdictions.

[00:22:28]So I think stablecoins are a form of bait, right? In other words, we're going to attract investors with the idea of stablecoins, even with the possibility of generating profits. That is, you're not going to be leaving your money in US Treasures anymore, for example, in exchange for 3-4%, but you're going to leave it in stablecoins.

[00:22:51]I think that's the bait. And once you have your money in stablecoins, it's already a way, a programmable way. There 's no difference between American and stable, or rather, there's a big difference, isn't there? Because if you have paper money, it's money that isn't yet 100% burdened by the government. But the moment this money becomes programmable and is in a stablecoin, we have an even greater threat: artificial intelligence. And Jane Rickards explains that very well in her book Money GPT.

[00:23:29]where he explains the great threat that artificial intelligence poses to the global economy. At the same time, there are also stablecoins such as Teter that are not pegged to the US dollar. So, there's also this problem of a lack of trust in the system and in stablecoins. Therefore, it is an additional danger that transcends only the programmability of these stable coins. And what I'm paying attention to is not what they're telling us and not their words, but their actions, and their actions are 100% aligned with CBDCs in the future.

[00:24:09]I want to set a deadline here, right? But I think we wouldn't be far from CBDC and well, I think this is it.

[00:24:18]Very, very, very good points. One of the questions we had from the beginning, since the year with Trump's tweets, was, why would he say one thing, then do the opposite, then announce a ceasefire, then announce... there has been a kind of erratic behavior that didn't make much sense, right? One of the first things we said when Trump came to power was that he was going to be the driving force behind the CBDC format in the United States, right? You put a libertarian in charge to implement measures that are the opposite of freedom. We saw it with the disease and the injection 6 years ago, and we're going to see it with the digital format of money in the next crisis, right? And now we have a graph that perfectly illustrates this president's level of ethics. I don't know if you can see it, I've already shared it, but basically what you're going to see now is the number of trades Trump made in the first quarter of 2026, right? right during the war. Therefore, if we combine this with the concept of the tweets and the extreme volatility we have seen in the markets, we begin to see a bit of the ethics of this administration. What do you think of this graph? And what do you think will happen for the rest of the year?

[00:25:49]I think, I mean, the same thing is going to happen, uh, in the end I mean, I think everything also has a background, right? It's nothing more, as you rightly say, isn't it? What we see, what they tell us is that I am seeking the good of humanity, right? But behind it all there are many political and economic interests, and the fact that they somehow position themselves and then benefit from all of this is part of that deal, right? Perhaps there are higher levels. So, I think what we're going to continue to see is a lot of volatility, one being that the market is irrationally bullish, I'm talking about the stock market, and this is practically the liquidity of the world, right? The way it's done is irrational. We are seeing the market at all-time highs, however, they have already announced that US inflation will probably go to 6%. Regarding the debt issue, there is no liquidity in the markets. The real estate market is also perhaps experiencing a bubble. The artificial intelligence market may also have a bubble. So, the perfect storm is being planned, the perfect storm is brewing when the market is totally bullish, right? And let's remember that, technically speaking, when this type of euphoric behavior is occurring in the markets, it's because a fall is coming, right? Um, let's remember, for example, when Bitcoin, right?, everyone was talking about Bitcoin, which was at, I think, $60,000, well, basically a cycle before the one we were seeing, right? Everyone was talking about Bitcoin, everyone. There was euphoria, there was a lot of FOMO about being left behind because Bitcoin was going to reach $300,000. So what? Well, after that euphoria comes the fall, right? And the same thing has happened in crises, hasn't it? After the euphoria comes the fall. the DCOM. There was euphoria over Docom, and then came the fall. Now there is euphoria over artificial intelligence, the markets are irrational.

[00:28:09]Watch out, right? I would be very cautious with investments because a drop is probably coming, right? And with that fall comes the fall of the stock market, and so it all falls. And I think that applies to the entire crypto world too, right? It would truly be news that would cause the algorithms, which is how the current financial risk system is based, to start pulling and falling, wouldn't it? So, I think it's also very much related to the likely ICE9, right? where these ecosystems begin to freeze, that is, the New York Stock Exchange closes, then the world's stock exchanges close and ecosystems begin to freeze because there is something serious, right? There's a crisis that could escalate to much more than planned, right?

[00:29:02]So, I think everything is connected and leads us towards what might happen, right? Being careful, being cautious, I think that's going to be, and having a plan, that's going to be the most important thing for the next 6 months, a year. I don't know what you think, Edo.

[00:29:24]I completely agree. I'm going back in time too, aren't I? I think the Donald Trump administration came in with a very bad example, don't you think? That's when they started entering the crypto market. I'm going to remind you that one of the reasons why we didn't even have a real Outcoin was after Donald Trump's launch of Mimcoins. I want to remind you of that. You know that it would also be hypocritical of me to say that it is 100% their fault. But it must be said that it is multifactorial. And I'll remind you of when Bitcoin was above $100,000.

[00:30:02]There was a very large liquidity problem in the crypto markets and the volume was extremely low. So, there is no doubt that a catalyst that created a very large dissolution in volume, especially of other cryptocurrencies, apart from Bitcoin, has been the launch of these mimcoins. It's been very bad for the markets in general that they've done so much inside trading, has n't it? I'm going to remind you that these mimcoins collapsed 100%. Many people, including their supporters, are the ones who have lost the most money with those investments in MIMCINS, which is 100% contrary to the utility market, isn't it? In other words, you can be sure that in the background they were accumulating useful assets while selling their mimcoins at the expense of their followers. But what we need to understand now is that this is an extremely delicate situation for the global economy because the same parameters that preceded the 2008 crisis are repeating themselves. And what we have is the stock market very close to all-time highs, but starting to show signs of weakness, that is, the S&P already fell last week, it fell 1%. It is still close to its all-time highs. If you look at the charts, it's identical to the pattern that preceded the 2008 crisis.

[00:31:37]Then we have the price of oil above $100. We also went back to 2008. Oil also came very close to making all-time highs before the great drought.

[00:31:50]Then we had the price of gold and precious metals reaching new all-time highs. A big correction for gold, precisely because many times central banks needed to liquidate a percentage of their gold holdings, precisely because they had obligations and a liquidity crisis.

[00:32:13]They needed liquidity, they had to sell gold, just as the price of gold was falling before gold reached new all-time highs and has consolidated itself as the best performing asset after the 2008 crisis. So, pay attention, there is more of a pattern that is repeating itself now.

[00:32:32]Next, we'll look at more; there's a lot of pressure on the bond market in the United States, and that's a global issue, isn't it? People don't have liquidity.

[00:32:42]People have to use credit cards and can't make it to the end of the month. There are also signs that the official currencies are losing their value. And the best comparison we can make is to compare it to the price of gold, right? That's because gold has risen extremely, it's risen too much in the last 24 months. So, there are too many signs, but this time there's an external factor that we did n't have in 2008 and we still can't even measure the economic consequences precisely because it's artificial intelligence and massive layoffs, right?

[00:33:22]The level of unemployment we will have in the next 24-36 months. There are companies advertising, for example, Meta, that one in ten people will lose their job with Meta. And Meta still has good numbers because there are larger companies, companies that are there with 20%, 30% layoffs, and that's globally, not just in the United States. So it's more of an external factor, meaning there are many dangers in the market. I think we need to be very cautious and attentive, but also don't forget that assets like XRP and XLM were developed for a liquidity crisis. That's why, even while markets may be falling, we could also have a surprise with utility assets, but it's about being careful and not being exposed with too much leverage, right? I don't recommend it now that you're there with leverage; I think it's a very bad idea. There's also a lot of manipulation in the markets, and it's also important when there's a crisis like the one in 2008, cash skin, right? It's about having liquidity because if there's a downturn, even a temporary one, in the markets for example XRP or XLM, you have the liquidity to buy them.

[00:34:45]Very, very interesting. And there's something I want to ask you next that I don't think we've ever talked about, and it's related to this article I 'm showing you about the TTCC. I read you very quickly. The tonified guarantee has the potential to free up significant capital and transform liquidity management. I'm not going to read the whole document, but I'm going to summarize it for you in a very simple way. In October of this year, the DTCC is expected to definitively launch an operational tolling service that will gradually increase in scale and volume throughout 2026 and throughout 2027. So tolling and settlement are different use cases, but I would like to know what you think. Do you think it is necessary that before seeing the organization we need, for example, the TTC to go to T+0, that is, to go to a settlement at T+0? Or do you think it's possible that tokenization is visible but the settlement isn't generated? In other words, even though they're starting to tokenize the buying and selling process, the back end remains reliable, right? Regarding topic two, sorry. So my question is, do you think there is a possibility that, well, not a possibility, but what is your reasoning? In other words, do you think settlement in zero issues comes before or after self-organization?

[00:36:17]I think it goes together, that is, tokenization goes together because we are already seeing it, right? You can already trade tokenized shares on exchanges and you can trade them at certain times, right? Um, I mean, there are still restrictions, for example, you can buy it during opening hours, but uh, you can't buy it on Saturdays and Sundays.

[00:36:43]No, but you can sell, right?

[00:36:44]So, the panorama is opening up, not fully yet, but the zero issue is no longer necessary, right?

[00:36:53]I believe the first step will lead us to 100% functionality, meaning you can buy, sell, or whatever. Weekends, in the early hours of New York, New York stocks, in the early hours of Taiwan or China, Chinese stocks, and it's going to open the market completely, right? There are still restrictions in place.

[00:37:18]I think that's kind of the zero issue, the settlement, but the settlement will also lead us to that part of artificial intelligence, right? That's, I think, the key point, isn't it? how they can transact immediately without having to wait.

[00:37:35]So, when that's connected, we'll have theme zero, and I think it will first be partial tokenization, theme zero, then total tokenization, and then, well, connection with artificial intelligences, humanoid robots, and so on, right?

[00:37:52]So I think that's how the ecosystem will work, and well, tokenization takes us to other fields, right? We haven't even seen other ecosystems that aren't valued in amounts; we're not talking about the market being worth x trillions of dollars. However, tokenization of international transfers, for example, isn't even being considered yet, right? Uh, international transfers, well, that was a market that Swift had, right?

[00:38:29]For example, the tokenization of, I don't know, a certain brand of bag is being considered, right? That brand did not previously have that assessment as part of the world's financial ecosystem.

[00:38:43]So, I think we're going to move into a completely different new world, talking about tokenization, and that's going to connect to what we're seeing today, right?

[00:38:57]That countries like China and Japan get rid of their treasury bonds, and that those who are putting money into treasury bonds through stablecoins, through tokenization, right? So, we're seeing all this change happening live, and it 's great to be able to even map it live, right? I don't know what you think, Edo. I completely agree. I don't think one can exist in the other, can you? We're going to use instants in the future. And the most interesting thing is, as I was explaining at the beginning of the live stream, that many people focus only on the United States Clarity Act, but people forget that, for example, the Global Stock Market is a global market, right? In other words, they're going to touch their wallets. That's more than 100 trillion globally and they're going to touch bond markets or more than 100 trillion. Then, oh, Crossb Saturs, I don't even remember how many there are, but I think it's in the annual quadrillions globally. So, people have to ask themselves which blockchains will be used to tokenize effectively, where they can obtain instant access. You can be sure that it 's not onum, it's not a Bitcoin network either. And financial institutions will be 100% choosing blockchains that have instant transaction capability, where transactions can be made in less than 3 seconds, and the options are very clear, right? XRP, XLM, there are some other alternatives that are quite reliable such as Augorance, HB, Hera. It is also an alternative. We are entering a future that is not a one-chain-to-roll-them-all, that is, there will not be just one blockchain that governs all blockchains, but blockchains will exist and will continue to be interoperable, where XRP will connect efficiently with Exl, with HB, and I think that's where we are headed in the future.

[00:41:02]Very good points. I want to share this reflection with you. I previously published an article on x.com and I'd like to know what you all think, but to give some context, because maybe not everyone is aware, Real Madrid, which is, well, everyone knows what Real Madrid is, the football team, is theoretically looking to give up 5% of the team to seek financing, right? So, what I do in this article is, uh, the conclusion I've reached about what would happen if I were president, and this isn't a criticism of the president of Real Madrid, it's something I think any future president should implement, it's about where we're going with the leisure activities of citizens, right? We are heading towards a gradual and rapid migration away from the economy, from capitalism. And in this post-capitalist economy, what are communities, that is, your hobbies, football teams, spiritual communities, and well, everything that is leisure in your personal hobbies, you are logically going to spend more time paying attention to those interests, to those communities than before, right?

[00:42:21]In Madrid it now has around 700 million supporters.

[00:42:27]Elon Musk bought Twitter with the idea of ​​turning it, in his own words, into one of the world's largest financial institutions. Oh, and it only has 600 million users. Hey, Mr. Beast, he has 400 million YouTube subscribers and just applied for a banking license, okay?

[00:42:46]Because the economy we are heading towards is going to change. In other words, if you're given the option of having a current account at, for example, Bank X, Santander Bank, Ferrari Bank, or Real Madrid Bank, I'm absolutely sure that many people, many fans, and especially in a post-capitalist economy, prefer to open their account at an institution with which they feel a connection, right? So, what do you think of this reflection? I think we're going to create a society where, or at least if I had a football team with such a huge following, I would turn the football team into a bank where, logically, you're going to generate much higher returns than you can generate with the usual revenues, right? That is, ticket sales, sponsorship, player transfers, etc. What do you think of this reflection? So, what do you think of the idea?

[00:43:51]Very interesting, and it reminds me how we've already tried it, right? For example, in Mexico there are credit cards that are branded, they have the branding of the soccer team or certain themes, right? So, it makes sense that you're now joining forces with your favorite bank, right? And that these banks are fragmented, right? We can see that these large institutions that we used to see as the only banks, are now being challenged by fintech institutions like Revolut and Nubank, which are even larger than small banks in different cities, right? So I think we're going there, and not only that, right? But you were right, weren't you? You were talking about leisure, about all of this, about how perhaps everything that is being done in terms of the metaverse, entertainment, is a bit of the future that they are going to take us to, right? Because? Because the fact that artificial intelligence is taking away jobs, and we're reaching a universal basic income, we need to keep the population entertained somehow. so that there are no riots, no problems.

[00:45:22]Well, that might be the way things are going. That's very interesting. Just as you were talking about it, I started to connect all of this, but I mean, we already see it with Revolut, we already see it with Nubank, banks that started small and are now monsters because they are easier, because they are more convenient, because they are more efficient, and all of this is leading us towards a new world, right? I don't know, Edo, do you agree? What do you think? I believe that we are increasingly moving towards a world where the financial system will be 100% interconnected and blockchain technology and assets like XRP and XLM will play a very important, extremely important role. And what's interesting is that what I see today is that if you have access to the internet, you practically become a global citizen. I'll give you an example. I have an account at a bank in Hong Kong and I wasn't even physically in Hong Kong. I hope the estate isn't listening, by the way. But the point I want to make here is that they are increasingly going to be interconnected and will need systems like, for example, oh, the LED, I forgot the name of the Interledger Protocol, for example, that will connect these rails in the financial system.

[00:46:53]And I think we can also take that concept to a personal level; that is, not only big influencers like, for example, Fran Mr. Visto, you mentioned, not only football clubs like Real Madrid could become banks in the future, but I think that if you, on a personal level, are going to be holding assets like XRP, like XLM, which are a fundamental part of the financial system, you can also, at a certain level, become, maybe not in the literal sense, but you can position yourself almost like the banks, that is, you can be in the same position as financial institutions like Santander. The Bank of America or The Bank of Mr. Beast, as Fran mentioned. And you can even be a liquidity provider for the financial system. I think that's what's going to change the system 100%. Even if I went to a bank on a personal level, for example, Fran from Os Bank, I would ask for a card, but I don't think so, [laughs] it would be funny, wouldn't it? But I think that on a personal level, as a liquidity provider, you position yourself in a way like a bank, and for that you have to be positioned with the useful assets.

[00:48:07]Yes, very good points, I completely agree. And for me it's not a question of whether Real Madrid will do it or not, but which football team will be the first, right? Because as soon as everyone starts doing this pattern that Mr. Beast has done, and that Trump is doing, that Elon Musk is doing, it's going to spread more and more, right? And here I share a series of data, obviously I'm aware that Excel can handle anything, right? But knowing that Real Madrid has 700 million fans, the impact on team valuation, if Real Madrid were to capture 0.5% of that entire audience, that is, 3.5 million accounts opened with Real Madrid Bank, would have a positive impact of 4 billion dollars, millions of euros on the valuation, right? Right now it 's around, well, there are fluctuations, but it's valued between 7000 and 10,000, more or less. So that 's a pretty conservative scenario. If they were to acquire 14 million accounts, that is, from 3.5 to 14, the impact on the valuation would be 20 billion. In other words, it would triple the current value. And if, in an optimistic scenario, it were to reach 7% of its audience, that is, 49 million accounts, which doesn't seem like 49 million is perhaps a very exaggerated figure, right? But hey, the valuation figure would be $80 billion, right? So, that's the benchmark or those are the terms in which, and don't just apply it to Real Madrid, apply it to Juventus, apply it to Manchester City, to Chelsea, apply it to Ferrari, right?

[00:49:37]Apply it to Rolex, apply it to a number of companies that, until now, have been aspirational companies or communities, right? People want to feel a sense of belonging. In a post-capitalist economy, part of your identity is determined by your job affiliation; that is, you identify as a crypto bro, finance bro, lawyer, accountant, right? In other words, a series of figures or stereotypes are generated based on that idea.

[00:50:07]When the job market disappears or your ability to participate in the economy disappears, your attention shifts, your identity starts to revolve more around communities, right?

[00:50:18]Therefore, these assessments may seem extreme now, but we must position ourselves within a post-capitalist economy. And with this I'm not saying that Real Madrid will be worth this much in the future. Hey, and I'm not saying that's worth it now either.

[00:50:31]Well, logically things are worth what they are now. This is simply an exercise in analyzing a non-existent future, okay? These synergies do not exist yet. Well, but I think it's an interesting reflection and it reflects a bit the change we're going to experience in the coming years. If you'd like, we can start answering some of the questions. And here [clears throat] they ask, "Hello, Fran, your main investment."

[00:50:59]Well, I don't know if you want to comment on what I said before, but well, I'll stop if you want.

[00:51:04]Hi, Fran. Your main investment in XRP is due to the ROI it can return in price or for the custody of having an asset that can give you, in quotes, power, right? Well, there isn't just one reason.

[00:51:16]I would also like to know your reasons, Raúl and Eduardo, even if you ask me. There is no single reason.

[00:51:20]In other words, when I invest in assets like XRP, it's not for a quest for power, but for multiple reasons, right? I believe that the reasoning, the main one, the main motivation is, uh, a protection mechanism, okay? I know that people see investments in digital assets as something speculative, as something risky, as something that, well, is a bit of a game, but if you understand the digital asset ecosystem in the context of the transition to a post-capitalist economy, you start to take digital assets or this sector a little more seriously, and you see it as a lifeboat, right? In other words, a botolide in the sense that it now generates wealth, a cash flow, those mechanisms that are based on scarcity, right? options because these companies provide solutions.

[00:52:14]Companies are able to add value because they have people who lack knowledge, experience, and know-how; they are able to recruit them, generate value by solving a problem for society or other companies, and monetize that value, that knowledge.

[00:52:35]When that scarcity disappears and knowledge, know-how, and intellectual and physical human resources become abundant, it also has implications for the real estate sector, right? Well, when the economic model changes, digital scarcity becomes the natural substitute for the scarcity of capitalism.

[00:53:03]So, it's not so much about power, which is also logically a way of trying to have some kind of voice and vote in a post-capitalist economy, okay?

[00:53:13]But it's a set of reasons.

[00:53:15]Roy is one of them, the lifeboat is another, the power is another. In other words, there is never just one motivation, but rather a set of motivations or a set of reasons that lead you to decide to invest, right? I don't know what your thoughts are on this question, Raúl and Eduardo. I mean, I think I totally agree with you, Fran. And well, Roy is obviously important, right? We wouldn't be here if we didn't see that it's going to be a good investment. And I say it already is for, for example, those who invested when it was worth 30 cents, then it reached $3, well, making that percentage, well, really no investment in the stock market, a stable investment, had done that, right?

[00:54:06]So from that point on, it's already a good investment, right? However, well, we're looking for higher prices; we're looking for it to be, personally, the next financial Apple. So, uh, I think another part of Roy would be emotion, right? If we had invested in a company, if we had the vision to invest in a company that we'll be talking about in the future, right? Perhaps it will be the Apple of 2030 or 2040, etc., right? So, I think that's important too. I mean, when it comes to investments, it's important to be level-headed, right? Reaching a point of maturity, right? I could have invested in Apple when it was a nobody, when it was worth, I don't know, uh, $ per share. Today it's worth $500.

[00:54:58]Well, but I think there comes a point in the maturity of the investment where you have to start looking at where you're extracting funds and where you're relocating them, right? It's possible that you keep part of it because everything turned out to be in order for you to receive returns, so you keep the passive income. You might say, "I'm going to invest it in real estate." I invest the rest in the stock market and start to grow my capital more, right?

[00:55:32]Personally, my goal is to continue growing my capital and position myself in a world where those without assets will likely be far behind in what will happen in the future with artificial intelligence. I don't know what you think, Edo.

[00:55:52]I think there are three angles, right? In other words, the R is also important, I mean, I think if we get there, I'll give a hypothetical example, if XRP reaches $25, yes, I could say I would sell a portion, I mean, 5-10%, maybe I would make investments in real estate. I always like diversification. That's one example. Then, oh, he mentioned power. Yes, there's also the power aspect because we're going to enter into a programmable system, especially with CBDC. If you have XRP, which is an asset that doesn't have the clowback feature, for example, it can't be confiscated, it's a 100% decentralized asset per se, even though stablecoins aren't, you can transact with XRP and that also gives you autonomy outside the system where you can even develop a parallel economy and that's a pretty elaborate concept that I'd like to talk about another time, right? Then the third point is clear that in my opinion the best thing about Axpino is to sell when you have 25 as I was explaining, although you can do a portion of your profits, your initial investment, but the fact is that you become, as I was explaining before, in the banks, is the fact that you are going to make profits there with your XRP. Oh, and that 's in my opinion, I mean, you're going to be a lender for financial institutions, you're going to be generating profits with smart contracts, or better yet, in a secure way, which isn't possible yet. In other words, if you want to generate profits with XRP today, you can't hold them in self-custody, you don't have on-change profits. So, in the future I think that when there is regulation, when everything is done properly, you will be able to generate these profits without having any risk there. You're going to have a contract with Santander or Bank of America, and I think this is my expectation for Exerpo.

[00:58:02]Well, to finish this last question and then we'll do the wrapup, uh, I've prepared, well, I've uploaded this tab. We need a BlackRock ETF for the Supply Shock. This is what happened yesterday, if I'm not mistaken. Yes, yesterday, May 19th, we saw a rotation, didn't we? We're seeing the Bitcoin and Ethereum ETFs suffering from selling, while the XRP ETF continues to accumulate, right? In total, more than a trillion XRP has been locked out, right? So I think it has to be a combination of things to see a supply shock. That is, with this image in mind, imagine a scenario in which we see a debec de teter. The ether is the most liquid mechanism in the ecosystem, and what happens is that Bitcoin is logically affected. We can see how all investors, who are investors in ETFs, do not save, eh, they are not loyal investors. In other words, the profile of an investor in a Bitcoin ETF is not the same as the profile of a Bitcoin holder who has it in a cold wallet, right? What those who are exposed to ETFs usually seek is simply profitability, right? So, if we see how there's a debate going on, that affects the price of Bitcoin, and we might even see Michael Sailor forced to sell some of his Bitcoin, which would put us into a spiral of automatic selling.

[00:59:26]Simultaneously, Blackr launches its UTS, and they see that there's starting to be more demand for XRP. Investors could pivot, and we're seeing that in this chart, which reflects that pivot and that migration from Bitcoin and Ethereum ETFs to XRP ETFs.

[00:59:50]Um, I don't know what you think of that idea, that question. There are diverse opinions here, we'll see what ends up happening, but the question basically is, do we need a BlackRock ETF for a supply shock? What do you think? I do n't think it's necessary. I mean, in the end, for a supply shock to occur, many things need to come together. But aside from the fact that we would need to have many things coming together, I think the supply shock can't be slow, it would have to be very fast to prevent the population from starting to have complicated behaviors, right? In other words, when they see that they cannot access their bank, when they see that the assets they built up throughout their lives no longer exist, that would have serious consequences, I believe, for the stability of countries, therefore, they cannot allow that. I think we're seeing it in some way, aren't we?

[01:00:55]Well, they're changing from point A to point B underneath the ABA underground, uh, and that takes us to the new world, right?

[01:01:06]Suddenly we're going to be in the new world and maybe we won't have lived through a black market or a supply shock, but we'll have experienced changes towards the new world. I think that's the way it is, and we definitely don't need an ETF or anything like that.

[01:01:24]I agree 100%. No, we don't need a BlackRock ETF.

[01:01:30]What I would add to what Raúl was explaining is that it's multifactorial, right? In other words, it can contribute to a supply shock, but it is not the necessary point for a supply shock to occur. My view is that a supply shock will occur when our vostro accounts cease to exist and financial institutions have to hold Exerv. in their financial statements, and I think that for me is going to be the big catalyst for a supply shock because we have more than 10,000 private banks in the world. We have the central banks, in my opinion they have already secured their XRP through Ripple Westcrow. I think that's not just happening in the United States. It will be in the possession of a Bank of International Securities or an International Monetary Fund.

[01:02:20]So I think central banks will already have their reserves there, but at the rate that these more than 10,000 private financial institutions that we have around the world need to access XRP through open markets, I think that will be the great catalyst for a supply shock that does not depend on a BlackRock ETF.

[01:02:45]Very good points. Um, the important thing here is that in the end the audience chooses what they consider best suits them and draws their own conclusions, and doesn't believe anything we say. Oh, and I'll take this opportunity to make one last contribution, shall I? And what am I going to end up saying? The same thing I always say, and we'll do a wrap-up, which is: don't trust anything we say. Compare the information, reach your own conclusions, develop your own criteria and you will understand this ecosystem much better.

[01:03:16]In a slightly more solid way than simply listening to our opinion, which we obviously appreciate you listening to, but if you accompany it with personal research, even better. What final thought would you like to share with the audience before we end the live stream?

[01:03:35]I would leave them with studying and above all preparing for volatile times. I believe we are in times that are going to be complicated for investments, volatile times. If they don't have a plan, if they don't have a strategy, well, that ends in losses, right? If we say, uh, you know what? I'm going to use XRP because I need the money to pay for this in a month. So, right off the bat, we're heading towards an extreme risk that could lead to losses. What Edo was saying, leverage, right? In these times when the world is volatile, you can leverage yourself and the market will liquidate you and you end up with losses. So, be very careful because these are volatile times and times when you need to know what to do, right? And many traders, for example, make money when they go short, right? When the market falls.

[01:04:31]So, well, they are perhaps already prepared for this volatile market, this bear market that may come. And you need to know how to trade when the market falls, when the market rises, and especially the investment time, right? That will lead you to have good returns in the future. That's all for today. You, Edo, I also have the patience that you do n't trust what we're saying here, as Fran said, you don't always have to rely on your intuition too. That's very important. Ah, I think we need to be focused on the utility market, less and less focused on speculation. Now, with regulation, we will have, in my opinion, a catastrophe for 99.9% of the crypto world. Therefore, we need to focus on the few digital assets that will survive this transformation. And we know which assets are mentioned by The IMF, Bank for International Settlements, the World Economic Forum and who are on the Board of Directors of Ripple. So, I'd stick with that. I want to thank the audience who leave comments; it helps us with the algorithm.

[01:05:51]See you next Wednesday!

[01:05:53]Greetings to all, and see you next week.

[01:05:56]Bye.

[01:05:57]Thank you.

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