Speaker 1: We're here for another one from the XRP Live event
Speaker 1: in Vegas, and of course this is going to be
Speaker 1: a good one because I bought my friend Abs coming
Speaker 1: in from good evening Crypto, How are you event?
Speaker 2: Always a pleasure? Yeah?
Speaker 1: Listen, this has been fun two days here, NonStop action
Speaker 1: on stage. You look at all the things that happened yesterday.
Speaker 2: What was your favorite? I thought Brad was a superstar yesterday.
Speaker 2: Oh yeah.
Speaker 3: And one of the things that I loved was David
Speaker 3: Schwarts taking the time to speak with everybody off stage.
Speaker 2: Do you see the clip did you guys do that? Yeah?
Speaker 2: That was my friends, That was Johnny Crypto who.
Speaker 3: Asked him that questionastic and I loved how we teed
Speaker 3: it up with the Charles Hoskinson criticism and worked into
Speaker 3: the Clarity Act because what David said that was actually
Speaker 3: very telling was, yeah, the current state of the Clarity
Speaker 3: Act does give Ripple and the current projects that have
Speaker 3: been given that commodity status a big free pass compared
Speaker 3: to everything else that that's at its inception right now.
Speaker 3: But he said that the industry needs it, and he said,
Speaker 3: we're never going to get a perfect bill, but the
Speaker 3: fact that we're right at the finish line, both sides
Speaker 3: are contentious, it looks like it's going to get done,
Speaker 3: and I thought that was pretty powerful for someone like
Speaker 3: David Suzeth.
Speaker 1: Well, and you saw the standing, oh the iris sworts
Speaker 1: gets here at this event. But the interesting point that
Speaker 1: I think was made was built around what was happening
Speaker 1: on Clarity, and we talked about this really quite at length.
Speaker 1: But I think it's important to really understand this is
Speaker 1: not necessarily a necessity for Ripple to kind of move forward.
Speaker 1: The real question is what is going to be their
Speaker 1: roadmap going forward. If it doesn't, what do you think
Speaker 1: would be their next step.
Speaker 3: I think Ripple's going to continue doing what they're doing,
Speaker 3: acquiring real companies, putting those companies on blockchain products, and
Speaker 3: eventually they're going to migrate to products like RUSD and
Speaker 3: the XRP ledger. The biggest difference between Ripple and every
Speaker 3: other blockchain product in this base, in my opinion, is Ripple.
Speaker 2: It is the fact that Ripple has.
Speaker 3: A forty billion dollar treasury and eleven billion dollar ballons sheet,
Speaker 3: and they're going to go out and acquire companies that
Speaker 3: create real demand that's sustainable.
Speaker 2: You don't see any other projects doing that.
Speaker 3: And as much as I love to play Charles Hoskinson
Speaker 3: on my show is very entertaining, I think his criticism
Speaker 3: is fairly unwarranted. If you look at what's happening on
Speaker 3: the Cardinal Network as opposed to what Ripples building, They're
Speaker 3: in totally different classes. It's like comparing Apple or Amazon
Speaker 3: to friendlies or an ice cream shop.
Speaker 2: Almost. I had Charles on last week. It was interesting.
Speaker 1: I pushed back a little bit when he was talking
Speaker 1: about Rippling kind of the strategy behind it, and I said, listen,
Speaker 1: the flywheel effect, to your point is that when Ripple
Speaker 1: does make a sale, that money is injecting back into
Speaker 1: the ecosystem, which is then injecting into the Xope Ledger,
Speaker 1: which is building. Of course, companies, products services, easy ad
Speaker 1: does a whole launch here at this event, and it
Speaker 1: was like a shark tank. I didn't know what to expect.
Speaker 1: I walked over there yesterday. Two hundred guys in there. Wow,
Speaker 1: building on the Ledger. I met like fifteen people like that,
Speaker 1: all of which and I think the winner was an
Speaker 1: eighteen year old Amazing that is building on this. So
Speaker 1: when you hear that ABS does that make you feel like,
Speaker 1: all right, this is going to be the future for me.
Speaker 3: I feel like blockchain right now we're at a pivotal
Speaker 3: time when I think we're really moving from the speculation bubble,
Speaker 3: and I know there's going to be speculators who come
Speaker 3: in post clarity, but we're starting to focus on real products.
Speaker 2: And that's why these developers are so important.
Speaker 3: Like a guy like me, I love covering these topics,
Speaker 3: but those are the real people who make a difference
Speaker 3: in the space building those real world products. And you
Speaker 3: brought up something that I find so important, which is
Speaker 3: that demand is sustained when it comes to real companies
Speaker 3: tapping into the Ledger. A lot of times we see
Speaker 3: the demand come in, the narratives go up, and then
Speaker 3: the price is crash on the back end. If something
Speaker 3: like g Treasury starts tapping into blockchain products, that demand
Speaker 3: is going to be sustained for years and it's going
Speaker 3: to continue to build well.
Speaker 1: And the point behind this in terms of innovation, you
Speaker 1: look at Ethereum and what they've been able to build
Speaker 1: in a very i'd say short time. If you look
Speaker 1: about twenty seventeen to where we are right now, not
Speaker 1: even a decade. Yeah, imagine where we are in a
Speaker 1: decade on the XRP ledger. Oh, especially post clarity, whether
Speaker 1: it comes through this cycle or post you know what
Speaker 1: we're going to see in the midterms. Yeah, I think
Speaker 1: the opportunity here in terms of company innovation is really
Speaker 1: big for ripple On. Of course, that is the big
Speaker 1: play here right now. When you look at the position
Speaker 1: right now on the FED warsh coming in.
Speaker 2: The concern that everybody has is that there's not.
Speaker 1: Enough votes right for them to do a cut.
Speaker 2: I don't know.
Speaker 1: I feel like this is a cat and mouse game
Speaker 1: with share Powell currently. If he leaves at some point
Speaker 1: and Trump can assign another FED chair or now or
Speaker 1: FED participant governors, that may give them the votes they need.
Speaker 1: And timing wise, if we ease up in Iran, inflation
Speaker 1: may still hold, but we're still losing job may maybe
Speaker 1: that's the data that would need when.
Speaker 3: The straight of Horn moot situation is very interesting because
Speaker 3: I can follow the headlines. You think we've won thirty
Speaker 3: five times and obviously we're still over there battling it out.
Speaker 3: But what every single time oil hits about one hundred
Speaker 3: and twenty dollars, Trump comes out and makes an announcement
Speaker 3: over this weekend. I don't know if he did it
Speaker 3: because we've been so busy during this week traveling the
Speaker 3: Bitcoin conference.
Speaker 2: The XRP conference. I did see oil hit one hundred
Speaker 2: and twenty dollars, but I think that's going to be
Speaker 2: the major factor here.
Speaker 3: If ifsh comes in and it's in its current circumstances,
Speaker 3: I'm not sure they're going to be able to reduce rates.
Speaker 3: I mean, that's just the logical conclusion. But I'm not
Speaker 3: sure where your opinion would be at Well, I look.
Speaker 2: At it this way.
Speaker 1: The thing I think Warsh is really put up against
Speaker 1: right now is the rising inflation and it continuing to
Speaker 1: hold okay, But the problem.
Speaker 2: Is is the FED has two mandates.
Speaker 1: Not only is it price stability, it's also jobs stability. Yeah,
Speaker 1: so jobs are not online with where we need to be,
Speaker 1: and it continues to decline if we continue to see
Speaker 1: the AI push, which, whether you believe it or not,
Speaker 1: the timing is a little bit surreal that we're not
Speaker 1: getting new jobs. AI is now climbing, yeah, especially in
Speaker 1: the white collar. So I'm a little concerned if that
Speaker 1: continues to fly. Now you're dealing with stagflation issue, and
Speaker 1: at that point, I think the FED has no point
Speaker 1: but to be able to go in and try to
Speaker 1: reset the market. I think there's gonna be a cut
Speaker 1: this year. I might be wrong. I love that, but
Speaker 1: it would only be if there's one caveat, and that
Speaker 1: is if Powell steps away, right, because we would need
Speaker 1: that extra.
Speaker 3: Vote to give them, And it's a big caveat because
Speaker 3: if you listen to him, he seems prety vindictive.
Speaker 2: Right now, he says I'm not leaving. It's like the
Speaker 2: Leonardo DiCaprio quote in what Wolfele Wall Street. Right.
Speaker 3: So I think it's an interesting time for that as well,
Speaker 3: because when you listen to the Jerome Powell situation, I
Speaker 3: think he's gonna do everything he can to make it
Speaker 3: really difficult. As as much as I wish that wasn't
Speaker 3: the case. I voted for Trump. I support Trump. I'd
Speaker 3: love to see them reduce rates. Jerome Powell that whole lawsuit,
Speaker 3: remember the three billion dollar lawsuit that's going on. So
Speaker 3: it may be more personal than it is political.
Speaker 1: Right, Well, I think it's clearly been drawn out that way. Yeah,
Speaker 1: And Powell said said it on stage at the FOMC
Speaker 1: meeting the other day, he said, listen, until I'm fully exonerated,
Speaker 1: I'm going to continue to do my job here, just
Speaker 1: like you know I've always done. And I think Trump
Speaker 1: is now playing a game of chicken with him as
Speaker 1: to which one is gonna you know possibly.
Speaker 2: Well, we know nothing about Trump.
Speaker 3: He's a winner, right, So in the end, I think
Speaker 3: Trump hopefully can sustain this battle and eventually we will
Speaker 3: see a reduction in rate.
Speaker 2: And the job crisis is a huge problem. You listen
Speaker 2: to the numbers.
Speaker 3: They're often reported and then they're revised a few months later,
Speaker 3: so which is usually worse, right, much worse. And so
Speaker 3: if that's continues, then I'm not sure how they can
Speaker 3: prevent it.
Speaker 2: But you know more than I do when it comes
Speaker 2: to these matters.
Speaker 3: And if you're telling me we're getting a rate cut,
Speaker 3: I'm gonna lean into that.
Speaker 1: That good God, we'll see if that's gonna happen, right,
Speaker 1: all right, guys, you know what know what to do?
Speaker 1: Of course, covering the x RP Las Vegas event here
Speaker 1: with abs and many more. Of course, today's gonna be
Speaker 1: a big lineup. We've got a lot happening here we'll
Speaker 1: try to bring more content to you. Be watching the
Speaker 1: show of course for a good evening. Crypto, you guys
Speaker 1: are covering the event as well, and absolutely are you
Speaker 1: doing today the special.
Speaker 3: Actually, we're gonna be doing a bunch of in person interviews.
Speaker 3: We're releasing them all next week, so go all right,
Speaker 3: be awesome. Thanks for having Mela, you bet as always.
Speaker 2: We will catch you guys later on the Take care
Speaker 2: to dist