Ripple/XRP-Ripple Case=SEC Admit Weak Case, ETH ETFs Secret Plan, 94% Central Banks

Ripple/XRP-Ripple Case=SEC Admit Weak Case, ETH ETFs Secret Plan, 94% Central Banks

welcome back to the show check out these headlines now we’ve got e and we’ve got uh ETF news but guess what else the settlement talks are back and they’re very much alive in the SEC versus Ripple case let’s get into this somebody rolled that beautiful [Music] [Applause] intro digital perspectives with Brad KES come on in welcome back to the show you can follow us on Twitter Youtube and dig prospectives decom for exclusive content right now $ 2.56 trillion market cap for crypto the market is up 7% 66,500 Plus for Bitcoin 3500 Plus for ethereum 112 billion plus market cap for tether and we see right now usdc is at 32.4 billion plus market cap xrp is 49 cents here on the chart we’re up 3.5 on the 24 we’re up4 on the 7 day now let’s take a look at Price here on the uh Fiat link chart we’re at 51 cents however ranging between 49 and 51 cents we’ll keep an eye on it here it says we’re up 3.34 on the 24 now let’s get into this very quickly here it’s linked to it’s the best private equity in the world ladies and gentlemen don’t believe me Google it they’ll tell you they’ll give you the numbers on it click the link to my sponsor below and get started today for the best private equity in every every emerging field available I I kid you not this is a remarkable opportunity and I want to remind everybody right now that they have the most affordable minimums to get started to of any private Equity offering in the world don’t believe it it’s still true click the link to my sponsor below and get started today let’s get started on this video right now Australia’s ASX approves its first Bitcoin ETF with vanac Bitcoin ETF under the tick vbtc launch on June 20th so just 4 days from now direct exposure to bitcoin’s price this is another region of the world opening up ETFs again you know I’ve proposed and well let’s look at the next piece of news here and we know that we reported to you just a day or so ago that spot ethereum ETF trading is set to begin on July 2nd according to Bloomberg analyst Eric buunis and this was due to the recent testimony of Gary gendler admitting that the ETFs were going to be cleared and approved when he was pressed to give an answer of whether ethereum was a security or not and he wouldn’t answer that but he let this answer out in the interim so this is what we know so far if it changes we’ll let you know but again I say watch out for USD tether watch out micro regulations are saying that it doesn’t classify as a stable coin in the EU and here I’m seeing ETF spot ETF setup to draw liquidity from a different area other than the crypto space through USD tether for E for ethereum and Bitcoin with ETF spots being opened up so let’s keep an eye on what happens to USD tether ladies and gentlemen we’ll see Ripple affiliate coins pH joins new remittance Network reaching unbanked Filipinos here and it says blockchain firm is a part of an 11,000 Strong net nwork of cash out counters launched by Union Bank of the Philippines and then uh smoke dog goes on here and says JP Morgan connecting with Ripple’s on demand liquidity how about that one you can see they’re on the list right here R Ripple documentation shout out to Chad and smoke dog for that and let’s go on to this as we know Bank of international settlements has found that 94% you hearing this number 94% of central banks surveyed are exploring Central Bank digital currencies now why am i showing you well one 94% is a staggering number it’s almost the entire world all the central banks of the world right and soon it will be now what this looks like on the other side is what we want to know you know uh Central Bank digital currencies issued directly from a government Andor for a treasury are pretty scary to me because you can easily attach social credit scores to that that’s why we’re watching this closely but then there’s the other side of this the other side of this is is that in order for us to really see the the utility and liquidity come to networks like The xrp Ledger we need Vehicles like stable coins and cbdcs cbdcs are nothing more than a stable coin that’s directly issued from a government which makes it a central bank digital currency it also makes it a little more scary that the government has that kind of direct power which is why I don’t want the us to have it I also don’t want a private issuer like uh Ripple or usdc to have the kind of power that Twitter has had where it could be weaponized against its own citizens of the world and that’s exactly what we’ve witnessed so I don’t want a private sector company to have that kind of power either so there are things that need to be worked on there are conversations that need to be had uh I think Christian Carlo is is really leading that effort and and by by a mile uh with anyone so this is important but these vehicles these instruments have to happen Paul Ryan urges America to embrace stable coins to maintain dollar dominance and I’ve talked about this plenty as well this is relevant in order to remain powerful in order to have a chance to keep the dollar dominant even as you roll out at the introduction of a bridge asset like xrp you need to remain relevant by having digital dollars again I’m totally into a public private relationship with companies to get that done I’m also totally into making sure that that integrity and design is scripted so it can never be tied to a social credit score and that it respects the anonymity and privacy of every holder of the world of a digital dollar and that right there in itself I think is the main ingredient to keep the dollar dominant in a digital world but these instruments are important because look it’s not just dollars right stable coins can be stable coins for a commodity oil gold silver stable coins can represent you know uh uh other you know you you name it right hard soft Commodities wheat soy beans you you get it right is soft Commodities hard Commodities it does it does it all stocks bonds derivatives absolutely that’s what we’re talking about this is the tokenization of the world that’s why these things are so important but it’ll be these instruments that move and represent the value in the digital realm and we’re not going to really see the kind of adoption that I’m certainly looking for until we see the introduction of these instruments so it’s very bullish to me to see 94% of all central banks working on that Ripple CEO says it’s a strange Market that has not reward it’s strange that the market has not rewarded xrp and again I think this speaks exactly to what I just talked about and that’s why I just brought it up and talked about it 94% of central banks of the world are exploring cbdcs we know that there’s a call to embrace stable coin Bill legislation which is already passed the house or the fit bills passed the house we need to get something done stable coin at the very minimum because these instruments are going to unlock the use of the protocols that we want to see used by institutional financial institutions and the rest of it this is what what needs to happen if it doesn’t pass it’s going to take longer for it to happen I believe that doesn’t mean we won’t see Market action in the interim from other things but let’s move on because there is other things to talk about like the SEC versus Ripple case well this has gotten quite interesting boy I tell you the SEC does not embarrass very easily the SEC is now pursuing 102.6 now let’s not forget the point 6 $102.6 million penalty from Ripple a substantial reduction from the nearly $2 billion remember 1.9 billion originally sought Ripple recently proposed a $10 million penalty citing the terraforms case well this is the letter here and you could see down here where they’re asking for $12.6 million penalty now what’s interesting about this is they originally wanted 1.9 billion right and now it’s or you know you could follow like they’ve sent this letter here from the terraform Terror Labs case whatever it is terraform labs and Daquan where they won that case they also don’t mention in this letter that they are not anything like the Ripple case Daquan and terraform Labs absolutely did illegal activity there is no illegal activity whatsoever in the Ripple case this is unbelievable how embarrassing this is I can’t believe I have to sit here and explain this it it’s it drives me crazy I can’t even imagine how Brad or Chris or everybody at Ripple feel about watching this happen right now it you know it’s so it’s so utterly absurd but the problem is there’s so much at stake so you have to take it serious there’s just no other way but let’s go back to the idea and understand this so they originally asked for 1.9 billion they’re now submitting a letter of an example of a case that doesn’t match ripple at all and asking for 102 billion. 6 102.6 million now that that’s interesting to me because that that’s desperate right that’s literally like the scammer who says you know you got to send me uh $5,000 worth of bitcoin and then you don’t do it if they tell you to do it in 24 hours and then in you know like 22 hours they go okay 1,500 then you know you know they even know that they weren’t really representing themselves properly to ask for 1.9 billion now they’re sending really like an amendment like hey judge we just wanted you to see this example in a case where we won that’s nothing like the Ripple case right but we still think you know you should tether because they even used the word tether this case in determining it is asking the court to tether its penalty determination in this case to the settlement of terraform that’s exactly what they’re asking here it’s absurd it is absolutely absurd the secc is completely out of control and they’re using our tax dollars to do it the I can’t don’t you get me started okay steuart aldera says the SEC is Raging Ripple defended itself agreeing to nothing the court gave Clarity that xrp is not a security there are no victims to compensate and worst of all for the SEC Ripple is thriving but at least the SEC seems to have abandoned its absurd demand for $2 billion this is steuart Alara Chief legal counsel for ripple acknowledging that it is dwindling for them and the SEC knows it they’ve quickly gone from two billion ask to 102.6 million trying to tie it to a case it’s not relevant at all so I’ve always said between 10 and 50 million now who am I I’m guessing but Ripple submitted a thing that said 10 million I could easily see the judge going you know what well it’s certainly not 102 so I’ll just cut that in half and this is where we’re at you could see you know look I hope it’s zero dollars because they’ve all actually I hope it’s a counter suit and that the SEC has to pay the legal cost of Ripple that that really is the right the right ruling to me right because they didn’t break any laws they could have solved this in a in a meeting in one day but nevertheless I believe the case is just as much a vetting and an audit process as it is a legal matter right so that has brought new talks the SEC new filing in the Ripple case stir settlement debate because the SEC is obviously admitting in the submission of that letter that they know two billion is out of the question too so you have to wonder if they submitted the official letter what is the back you know the back Channel talk that’s going on there for the SEC to want to recognize that two billion ain’t going to happen so they trying for a 100 now it is pathetic that the SEC is operating in this man Manner and it’s even more disgusting and Despicable that they’re using American taxpayer dollars to do it and to lie in different court cases along with this one it’s just pathetic but that’s where we are on this day ladies and gentlemen not Financial advice of me or anyone else by the way I’m available for retirements and children’s parties too so if you need me I’m I’ll take the call I hope everybody has a great day with family and friends Happy Father’s Day to all of you out there uh wherever you are and I will catch all of you on the next one

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