Jake Claver Admits why he was WRONG about XRP!!! | #157

Back by popular demand... Jake Claver returns for round two.

I sit down once again with Jake Claver, one of the sharpest minds in crypto and the founder of Digital Ascension Group, to dive even deeper into XRP, blockchain, tokenization, and where the digital asset market is really headed.

In this episode, we break down what's happening behind the scenes, separate the hype from reality, and discuss what could be coming next for XRP and the broader crypto market. Whether you're already invested or just trying to understand where the future of money is going, this conversation is packed with insights you won't want to miss.

Go Check Out The First Episode! https://youtu.be/vGha86Q3Wcw?si=tWOezITn-L35CQcY
  
Jake's Links:

   / @jakeclaverqfop   

https://www.jakeclaver.com/

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Transcript

SPEAKER_01 0:13

You don't even know what you're doing when I'm in the middle, baby. It's another way of been a moment today. You know the show about ordinary people who've done extraordinary things. As always, baby, we're gonna ask you a first. Do us a favor, hit the subscribe button. 85% of the people that watch this show don't subscribe. Just click it, it's free. I promise you, it won't cost you as many, but it definitely helps us and helps our guests as well. Back by popular demand, I sat down with this guy back in December of last year. He was here in our pod. We had over 1.5 million views, okay? We're talking to this guy. Everybody loved him, so we brought him back. I told him then that we were gonna be longtime friends, and then you know what? He's here in the house today in ATL. Welcome. Jake Clavers in the house. What's up, Jake? How are you, baby? Dude, blessed. So, so great to be back. Thank you for having me. Absolutely, man. I appreciate you coming. You're a man and your word. You said, hey, we can go do this again, roll back, and we'll find out all these predictions that you did. Yeah. Ready to run through them. Well, we're gonna run through them because I got a little report coming right here, Jake. I'm not gonna lie. You made a lot of predictions back in December, and unfortunately. A few of them didn't play it out. A few of them didn't play it out. It's fair. But you know what? I respect the fact that you come here and sit. We're gonna be like, hey, let me face up to this. Let me tell you, let me tell you. Let's let's talk about it. 100%. So you know what? Right before, I just wanted to go ahead and tell the viewers things are gonna be a little bit different today because we are gonna we're gonna talk about the last spot, some of the some predictions that he went over and some of the things that he discussed. And also we had some lucky guests. You know, if you watched us, we put out a little short and we said that Jake was gonna be here. Some of these, some of these people here that are here today are here to actually ask Jake some questions. So I don't know if they're good questions or bad questions, but we're gonna pull it out and we're gonna find out. So, you know, stay tuned for that as well. But you know what? Let's get right back into it. You know, starting out from some of the year predictions, you know, you had made a comment right away. You said that, you know, the opportunity will never come around for another 200 to 500,000 years. That was seven months ago. Yep. XRP's down 43 percent. It is 43. It was at $2.30, it's down to a buck oh nine. Yep. The SP is up 8.5 percent. Okay. It it did period.

SPEAKER_04 2:30

Yeah, yeah.

SPEAKER_01 2:30

Gold is down 6.4%, and Bitcoin, of course, is down 27%. Crypto overall down 35% as we stand for.

SPEAKER_04 2:38

Across the board.

SPEAKER_01 2:39

What happened, Jake?

SPEAKER_04 2:40

Talk to us. We haven't had the catalysts play out, right? So, you know, we had the Fed announcement today. I don't know if you've been watching that or not. No, I did not, so fill this in. So they held, so they've continued to hold rates this whole time and continue to kick the can on the reverse carry trade and a lot of the things that I believe are going to be catalysts to drive adoption of this asset class and also a lot of liquidity that everybody's hoping for moving into these assets. You know, we did have the war with Iran. Yeah, I don't know if I mentioned this on your podcast or not, but we talked about the Straider Hamovs getting shut down. Everybody told me I was crazy on that. What happened? Yeah. We we have that, right? So we've seen oil, you know, come up significantly in value. There's uh significant pressure on the Bank of Japan and other economies globally with inflation. And the only way out of this debt crisis is to back it with digital assets. That's the only way that they can get out of this deal. Yeah.

SPEAKER_01 3:34

Do you see that that's still, do you still feel the XRP's the way to go and to hold and to relax?

SPEAKER_04 3:41

You know, I have to give my disclaimer. Nothing here is for financial advice, only for entertainment and educational purposes. And any opinions I share are my opinions, not the opinions of Digital Ascension Group of any or any of our subsidiaries. Uh, but yeah, I'm I'm still fully allocated. I've continued to average down, right? So I'm and I've been, you know, in the market much longer than a lot of people. So I've actually averaged up over the last two years, but I continue to buy. It's not like my convictions changed at all.

SPEAKER_01 4:08

You know, that's the one thing that I did want to hit with you with because seven months ago, like I said, you know, I'm not gonna lie, I bought in at $2.30. You know, it's down to a buck oh nine, you know. Uh, you know, I've lost half of what I put in, but I did buy some yesterday. I'm not gonna lie, you know, do I continue to buy? Do we still do the do you still feel like it's coming?

SPEAKER_04 4:27

My question to people when they when they have this issue is if you had bought Bitcoin at a dollar or you had bought Bitcoin at two dollars, do you really care? I mean, you might have twice as much Bitcoin if you bought it at a dollar versus two dollars, but a little bit more richer. You're probably doing okay. Still rich. Exactly. If you have that level of conviction, if you if you've done the research, if you understand what this is gonna look like on the other side of adoption and how much liquidity is gonna have to be able to service all the transactions globally for the back end settlement of the stock market, the FX market, commodities, um, Swift, all the different ways that I believe XRP is going to be used, it's it's a significantly higher value than what it is today. Three, four digits very easily to get you know enough liquidity in there to actually back that and do it. So if you bought it, like I said, at a dollar or two dollars, I I'm not crying. I'll tell you that.

SPEAKER_01 5:16

Yeah, but you're a band that made 20 million, you know.

SPEAKER_04 5:18

Well, I was in 20 and 21. So a little bit of I should have also sold more at the top, right? Um, and I think that's true for everybody's cycle or the first cycle. And this is a lot of people's first cycle. Probably people that watched your podcast last time that may have been their first introduction to crypto, they get excited, there's some hype. You have to be patient with anything. So you've run you know multiple businesses, it's taken a long time in order to be able to build those up. Most people that invest in something and they grow something over a period of time, you plant a seed, you have to water it, you have to nurture it, you have to do all those things in order to get a liquidity event or an exit later on. If if my thesis on investing, really to be an investment, it's it's a four-year hold or longer. Otherwise, you're trading, yeah, in my opinion. Uh, again, there's no no everybody has their different opinion on what's trading and what's investing.

SPEAKER_00 6:08

Sure.

SPEAKER_04 6:09

But that would be the duration that if I'm investing in something, you know, if it's private equity, if it is private credit, if it's a fund, if it's digital assets, that's kind of my mindset going into it.

SPEAKER_01 6:20

I think the problem is when people are, you know, actually investing in a company, there's something there they're investing in. They're banking, that company is gonna grow and it's gonna do well. Crypto's a lot different. There's it's really not a company, it's not a thing, right? It's just you're betting that somebody can sell it at a higher value than what you're purchasing it at.

SPEAKER_04 6:39

Today, I would agree with you. Yeah, uh, I do believe that this is all speculative still at the moment. We don't have any real world adoption. We've had delays with the Clarity Act, we finally got the Genius Act almost across the line here. We got the OCC, the Fed, the Treasury, the FDIC all coming out with the way that they are providing guidelines around the Genius Act, which was passed in August of, or not August, July of 25. Um, and until they do that, the banks aren't going to step in with stable coins either. So, to your point, this is all speculation, and you're betting on which network you think is going to be used in a certain capacity and looking at total addressable market, just like you would in stocks for what they're trying to capture, what um area they are in, and how much of that they're gonna capture. So if you look at total addressable market for back-end settlement of all these things, it's quadrillions of dollars if you're looking at the derivatives market. Whichever one you think is gonna get that, it's probably gonna be significantly higher price than what it is today. Right.

SPEAKER_01 7:38

What do you what what's going on with the Clarity Act? Why why is this hasn't come too true?

SPEAKER_04 7:42

I don't think we need it personally at this point for XRP in particular. So because of the SEC lawsuit with Ripple, uh, in that lawsuit on July 13th of 2023, we got clarity for XRP. It's not a security. Uh FinCEN actually came out, you know, in 2014, 2015 and said that it was a uh currency here in the US. Um, and now we've got the CFTC and the SEC providing joint guidance that it is a commodity. So, you know, there's 16 assets that they've given that designation to between their joint guidance. Clarity Act gives full clarity for all digital assets. Uh, but for those 16, you know, they're they're pretty much in the clear at this point. Really, if if there aren't any other competitors or anything that has clarity, and XRP does, it actually provides it a moat. So, you know, there's been a lot of headwinds for the Clarity Act. There's been a lot of other things that have taken precedent ahead of it. Uh, they've been fighting back and forth about the ethics with Trump's family and how much they made in crypto. They've been doing, you know, a lot of things on Capitol Hill, you know, wordsmithing things, but it's still in limbo in the Senate. The Senate has another week or two here before they go on recess. Right. If they don't take it to the filibuster, they got to get it through the filibuster to change the language and everything in it. They then have to take it to a full Senate floor vote, pass it there, and the Democrats don't seem like they're on board with that. Right. Once that's done, it's got to go back to the House because it was already passed through the House once, but now that there's going to be changes to it, they'd have to pass it again. And then after that, it would go to Trump's desk. And he said he's not going to sign anything until the Save Act has been passed. And he signed that. So there's still a lot of friction here before we're going to see that. Now you have midterms coming up. You've got other recesses for Congress over the summer with Labor Day and everything else going on. I don't, I am unless there is a catalyst that requires Congress to come together and then get pulled back in and execute on something. I'm I'm in the boat of it's probably not going to be this year, it'd probably be 2027.

SPEAKER_01 9:47

Why do you think that is? Why don't they want why aren't they all together on this?

SPEAKER_04 9:53

I think for a lot of reasons.

SPEAKER_01 9:54

What's really the negative piece of it all?

SPEAKER_04 9:56

Banks would be put out of business very quickly if they don't adopt the the same infrastructure. So it really democratizes access to everybody for financial products. Uh DeFi in particular, having open source technology that allows pretty much anybody with a wallet and a cell phone to connect to it for financial services, disintermediates the banks. They they don't want that, right? And so they're they're trying to work their way in where they still stay as the intermediary, the gatekeeper, and there's legislation and oversight and all these things around it to make sure that they're involved in this next iteration of the financial system. And they have there's a lot of frictions built into the system right now. You when you send a payment ACH, it's two or three days before it settles on the other side of that sometimes. Uh, if you use a payment app, we talked about that last time, you know, PayPal, Venmo, Cash App, WISE, whatever you use, you can do a fee and it's pre-funded. Right. Or you can wait the two or three days, and then they get that money to use it for those two or three days. That's why they don't want this to happen because the velocity of money will pick up substantially. Like you literally get paid, you know, by the day or by the hour eventually. And right now it's every two weeks. So even people that run payrolls, you know, they're collecting that money a couple days before, holding it in their account, earning money on it, and then they pay it out to your employees and do all the taxes and everything else they're doing. Because of these frictions and the the gating that there is and these intermediaries that sit in between, there's a lot of money to be made. And incumbents aren't just going to give that up without a fight.

unknown 11:28

Right.

SPEAKER_01 11:28

Right. You know, it's it's it's funny because yeah, you talked about some some some things that didn't come to fruition, but you talked about a couple things that did.

SPEAKER_00 11:37

Yeah.

SPEAKER_01 11:37

You know, one of the things I know that we we discussed a little bit was with the Visa MasterCard, you know, and how that affects into my world, the MySpace, right? And that was something you kind of nailed right on the on the button. Tell tell the viewers a little bit about that and how that affects.

SPEAKER_04 11:51

Yeah, so Visa and MasterCard have stepped up to the plate here. They've integrated a lot of these different payment channels and networks. We've got AI coming onto the scene, uh, T-54 is building like know your agent is what it's called. So you have KYC and KYB for people, right? This will be KYA for agents, and they're adopting agentic payments. Agents can't really operate without crypto. They they need stable coins, they need digital representations of value in order to be able to transact because an agent can't open a bank account. Right. Uh, and so they're actually building rails right now with MasterCard and Visa to be able to transact over these crypto rails using stable coins and other tokenized assets on your behalf. You can set up, you know, payments uh and and you know, gate them and put guardrails around things, and the agent does those payments for you, which would be really cool, right? Sure. Uh, and especially if money moves real time and you know it's safe. Well, they there's again guardrails. You gotta have lots of them. You gotta have make sure that's stuff in place. But yeah, they've they have announced multiple partnerships over the last, you know, since our podcast, um, that where they are adopting this technology to use it.

SPEAKER_01 13:01

Now, you know, cybersecurity, obviously a big thing, and people are still scared and nervous. For sure. You know, you hear Coinbase all the time, these kids, you know, wanting to purchase things and stuff. Everybody's worried. Like, where do I put my money? Where do I go? You know, I know you have your own company. I know you just relaunched, you just changed the name.

SPEAKER_04 13:15

Yeah, it was rebranded the whole thing.

SPEAKER_01 13:16

Yeah, you rebranded the whole thing. Tell us a little bit about that, man.

SPEAKER_04 13:18

And what made you rebrand? So, you know, we we've operated under all these different entities for a while. We had Digital Ascension Group, which is the parent company, and you know, we had digital wealth partners. The tagline originally for the company was your digital wealth partner. So I named the wealth management digital wealth partners, and then we had uh the family office side, which was digital family office, and then we had the insurance side, which was your legacy. And so we've just consolidated all that to make it easy for our clients and everybody to find us and understand what's going on. Some people didn't even understand that the the companies were affiliated, right? They were purchasing or working with one group, and they're like, What do you mean this is a separate company? So we just made it easy. We bought the domain, DAG.com, and uh now everything lives there. It's uh much more institutional feeling than what it was before.

SPEAKER_01 14:05

Go to Amazon today and purchase money management for beginners, a book for everybody, especially younger kids. Kids that get money don't know what to do with it. This is the best $20 you'll ever spend. We'll save you millions. That's right. I said millions of dollars if you start young and earn you the same. A M A Z O N Amazon. Dealing with some even larger accounts, people that are you know spending millions and millions with you, um, and then all of a sudden watching their portfolio just just tank. Like, how does it make you feel, bro? I mean, you you gotta have some little bit of conflict with some people here and there. Well, you know, crypto's risky.

SPEAKER_04 14:42

I mean, you said that before, right? It's speculation. And and the people that we work with that have those type of accounts, it's not like it's their total portfolio, it's not their life savings that they're investing with us, right? It's a portion of their portfolio, and we manage that portion and we give them guidance on what we see in the market, and they're also long-term investors, they're not here to make a quick buck, they're looking at generational wealth. What's this look like over the next five and 10 years? And how do we position ourselves today to take advantage of that? And so, you know, again, you could be in stocks and be down 50%. If you invested at the top in 07, I mean you went way down, but now you're way up at this point, right? So same thing if you invested at the at the top of the dot-com boom in like an Amazon or something else, if you just held it, you're still doing really good today. Yeah, right, right. And so, you know, that's what I I would see the the largest difference between the larger clients that we have, the more accredited, and I don't want to say um, I would just say it's different levels of financial education, right? People that are just getting into investing, they tend to be a bit more hypey uh and they FOMO into things and they get excited very easily. And there's nothing wrong with that. Uh, but they tend to have a a shorter term mindset than somebody that's more established, been in the market, understands cycles, and been doing this for 10 or 20 years.

SPEAKER_01 16:00

Right. Have you ever had anybody walk up to you and be like, Man, I put my whole life savings because of you? You told me this, and you said it was gonna go to a thousand and in 30 days and it didn't hit.

SPEAKER_04 16:10

There there have been people that have been upset and rightly so, you know. Um, but again, I have my convictions and and I don't give anybody financial advice. I come on and I explain what my thesis is and how what things have to happen in order for that to play out, and it is a perfect storm scenario. Like I don't I don't make any bones about that. So, you know, if if you have if you don't have the disposable income and you're betting your rent money on this, I would rethink your investment thesis. I I would probably I would implore people to, and this is what I think you tell a lot of people to do invest in yourself. Absolutely generate, figure out how to make more income so that you have enough to be able to supply your lifestyle. And then the additional money that you have that's not needed right now, you can plant seeds with that and invest it.

SPEAKER_01 16:59

Right. I mean, obviously, you know, the the motto would people have been down the road before is you just let it sit. You know, it's like, hey, you're investing. Or average down, you know, right?

SPEAKER_04 17:08

Like if you had the conviction to buy it at two dollars, you should love it at a dollar.

SPEAKER_01 17:12

Yeah, right. So buy more. That's it. Everything's on sale. That's right, that's what it is. But um, you know, so let's uh take a look a little bit about some of the things of what Jake said and some of the things that actually happened. Yep. Okay, so we're just gonna kind of go through here. You had mentioned you don't own any stocks at that time. Are you still in the same position? Same position. So you you just XRP, you want all in, you got do you have anything besides XRP?

SPEAKER_04 17:36

Well, I have the equity in the companies that I own. And then we also have um some private equity investments that we've done. And then I bought um a little bit of hash. So I it's a flyer. I put like two grand in it. I bought that higher than where it is. It was at two cents when I bought it. Uh-huh. Uh, it's provenance blockchains token. And uh so I was doing I put together a video maybe a little bit after we did our podcast on the total addressable market cap for different financial products and sectors. And when I was doing that research, I was looking for tokenization of insurance. And I was like, surely somebody's doing this. And sure enough, there's about $450 million worth of life insurance tokenized on Provenance. And I was like, okay. Yeah, you know that one. Total total addressable market cap um of that entire sector is eight point well when I when I researched, it was like eight point six one trillion dollars. Uh about thirty to fifty billion dollars transacted daily in that vertical. So like 0.00047% of some of that's been tokenized on chain. Right. It it reminded me of XDC when I got into that in 2020. Uh I had to, it's not listed on other exchanges. There's only a couple places you can buy it. And I kind of had to go around my butt to get the XDC. I had to buy ETH and send it over to this weird wallet and then convert it into XDC, and you couldn't do anything with it. It just sat there. Um, but it went from three hundredths of a penny all the way up to nine cents in that bull run, which I sold out at a penny. I should have on a little bit longer. But anyway, but it has a lot of those same things, and so I thought, okay, you know, throw a little bit of money at this. It's a flyer for me. It's not anywhere close to my main position. Uh, but that's the only other crypto that that I've made an investment in. And then, like I said, few few early stage private equity companies, and then the equity I have in in my company.

SPEAKER_01 19:26

Why not the SP? When you see the SP up eight and a half percent already this year, you know, with with things being as bullish and as bad as it is, and they're still boom climbing, do you sit there and scratch your head and go, hmm, maybe I need to rethink this?

SPEAKER_04 19:39

Not at all.

SPEAKER_01 19:39

No, no, no, no regrets.

SPEAKER_04 19:41

Not at all. So the PE ratio and the buffet indicator are at all-time highs. Uh, if you look at the PE ratio on stocks, especially tech stocks, uh, we're at like 24, 25, 26, the highest it's ever been. So I like to invest at a fair value or a discounted value on PE ratios. So I'm looking for somewhere between 13 and 16 on a PE ratio, and that's when I would enter the stock market. We haven't seen that at all since you and I spoke last on the podcast. Uh so when we do get the pullback in the stock market when the reverse carry trade unwinds, I I think that there will definitely be opportunities. I I could see the stock market comes market coming down 30 to 50 percent in a very short period of time.

SPEAKER_01 20:22

Yeah, I I said 25% myself. Like it's gonna happen. Yeah, there's gonna be don't commit suicide if you're out there and you see it happening. It's okay, it'll turn.

SPEAKER_04 20:31

It'll be up and to the right, you know. Like I would rather rip the band-aid off and get it over quick and then have a V-bottom recovery versus what we saw in 08 was a long, drawn-out, you know, bloodbath for a couple years, and that really ate people up, especially if they were close to retirement.

SPEAKER_01 20:47

Right. That's true. Um, you know, so clients holding 500k to 5 million in crypto is gonna go a hundred times in the very near future. Obviously, XRP is down 43%. How do you still feel about that statement that you made?

SPEAKER_04 21:03

I mean, I consider near future within a year, and we're still within that time frame.

SPEAKER_01 21:07

You were talking a month. You were like by the end of the year at the December, you were like, hey, before the first.

SPEAKER_04 21:12

There was an event that occurred close to the end of the year. They they invaded Venezuela. Um it was not the event that I was I was hoping for, but I I think that they needed to do that in order to shore up oil resources here in the US before some of the other things could take place, which have unfolded since then. Um, but it has taken significantly longer than I was I was hoping.

SPEAKER_01 21:34

Right.

SPEAKER_04 21:35

I think everybody was hoping.

SPEAKER_01 21:36

Of course, of course. But it's funny because you still stay the course. Right. And you know, you haven't wavered. I mean, you're still saying it's gonna go to a thousand. You know, in time it's gonna go to a thousand. You feel a hundred percent confident in that.

SPEAKER_04 21:48

Uh there's no way it it it can't in order to be able to facilitate the use case that I believe it's gonna be or the capacity I believe it's gonna be used in. And I also don't know how So Japan's a big piece of this. They're a huge proponent of XRP. Yoshi Taka Katao is the principal there at SBI. SBI owns 10% of Ripple, 10% of R3, and they're one of the largest institutions there in Japan. They they want to see full adoption of this. And in order for that to happen, even David Schwartz came out a little bit earlier earlier this year, and he people asked him, they said, Well, why haven't we seen the adoption? Is it because of the regulation? And he said, No, it's not because of the regulation. XRP has clarity. It's because of the volatility of the asset. And they don't want to hold it on their balance sheet. Just, you know, a same reason here, people are down 30, 40, 50 percent. An institution that's managing other people's money, they they don't like that volatility. Right. Or or to have that on their own balance sheet. So it needs to be a high stable value, and then they'll be happy with the risk because there won't be much at that point. Um, and for it to have that type of liquidity and also stability, if you look at the the indexes, it takes trillions of dollars to move them significantly one way or the other, right?

SPEAKER_01 23:08

So say that again. Say it one more time.

SPEAKER_04 23:12

If you look at the indexes, it takes trillions of dollars to move them you know five, ten percent either direction. And people talk about the market cap for XRP and they're like, ah, it can't be you know greater than the GDP of the whole globe, right? But if it was, how stable would that be? Like how much money would have to move one way or the other in order to depeg that or keep it, you know, down or up. It's a lot of money. So at that's the point in which we'll see you know stability for this token, and I think institutions will be very comfortable holding it on their balance sheet.

SPEAKER_01 23:45

You know, you talk about liquidity. Uh go ahead and explain to some of the viewers. There's some lot of younger viewers, in fact, some some here in the house today, that probably don't really even understand you know what liquidity really means, how important that is if they're buying some crypto.

SPEAKER_04 23:58

Well, so so crypto is extremely liquid in comparison to other financial products. If you were to invest in a fund, I mean most of the time it's a lockup for one year. If it's a private equity, it could be longer than that. Um private credit funds, there's all these different things that the Securities and Exchange Commission has done a good job of gating things and putting guardrails around stuff so that they are illiquid, so that people can't get emotional and pull things out and cause restriction or or problems in the financial system. Stocks are pretty liquid. I mean, they settle T plus one now, so you can trade that. It feels real time if you're trading it on Weeble or Robinhood or one of these others, but it actually isn't real time. They still wait and settle at the end of the day. And so until it's T plus zero, it's still not as liquid as crypto, because crypto is instant. Right. Um, but when we talk about liquidity in a token, Bitcoin has the most liquidity of any digital asset. When you look at the total market cap of it, uh, we're, you know, a little over a trillion dollars. It's still not anywhere as liquid as it need would need to be in order to s to settle the back end of markets. Um you would need a lot of liquidity there because the daily volume on those is somewhere between five and six trillion dollars for the back end of the stock market or FX or commodities. So $1.6 trillion or wherever it's at today, that's not even close. You you probably want somewhere between five and ten times that amount of liquidity in a token to be able to facilitate because you need a buffer, right? And the market cap isn't actually the liquidity that's available in a token, it is a representation of how many outstanding shares there are versus the price. So I could I could launch Jake token, okay? I go get it listed on an exchange. I let's say Trump did. Yeah, exactly. Exactly what Trump did. And let's say let's say I issue a billion Jake token, okay? My mom buys it for a dollar. There's one trade for a dollar on an exchange, and I'm simplifying this. Sure. But what what would be the the market cap of my token? If there's a billion tokens and my mom bought one for one dollar, yeah, what what do you think? It'd be a billion dollars. Yeah, my market cap of my token, even though one person put one dollar in it, right, it's now a billion dollar market cap. And so I'm extrapolating that a little bit just to make it simple for people. But that doesn't mean the liquidity's there to be able to actually do anything with.

SPEAKER_01 26:30

Well, and that's the problem too, because if I bought all billion coins and I own all billion, what is it worth to me? Right. It's only worth if I could sell it to somebody for more than a than a million at that point in time. Yeah, you need a marketplace. If I hold it all, then it's it's no good.

SPEAKER_04 26:45

You you need a marketplace, and that's why you know a lot of people get frustrated with founders of these tokens. They own 40, 50, 60 percent of the supply and they sell a portion of it onto the market, and some other people hold some, but they they can rug people. We've seen that over and over again. They sell 10, 20, 30 percent of what they hold all at one time, boom, the the liquidity's gone out of that token. So you you need something that's robust, has a lot of people participating in the same ecosystem or on the same protocol, and isn't beholden to one counterparty. And people would say, you know, people you're beholden to Ripple because they have so much of it. They they have an escrow, and in that escrow, they release one billion per month. They don't put the full billion on the market, they never have, they've always taken a portion of it and re-escrowed it on the end of that escrow. And they put about 300 million onto the market, and they do sell that to fund their business. I don't I don't make any phones about that. But if you wanted to get full adoption for something and you needed to make acquisitions and grow business partnerships and you know, get the in-roads and build all the infrastructure for something, you need a way to fund it. Right. And and as long as you're not tanking the price, maybe you're using that escrow to modulate the price and hold price stability so that you can trial it in the capacity that it's going to be used eventually. I I think it makes a lot of sense.

SPEAKER_01 28:07

You know, you see Bitcoin's come down quite a bit. You think it's gonna continue to drop below 50?

SPEAKER_04 28:12

I do. Um, we've got these treasury companies that are shutting down. So we had the ETFs and these treasury companies. People say this time's different. This time is really different. If you even if you look at the market cycle, Bitcoin wasn't at an all-time high before the havoc, which has never happened before in any of the previous cycles for crypto. So this time is different, uh, but it's pretty close. Like it's followed the fractals from previous cycles, and it's it's down uh less than it's been in previous cycles. And however, the on-chain losses at this point have hit the same points. So there's there's a lot of markers that show that we are at the bottom here, you know, in in late July of 2026. Uh, but with these treasury companies shutting down, you've got pressure on Michael Saylor to sell Bitcoin in order to meet the dividend for the product that he's put out to market. There's there's a lot of headwinds for Bitcoin. And now that energy prices are up because of oil and the conflict in the Middle East, there's less miners out there, it's not as profitable to be doing that. And now we've seen a lot of that infrastructure get pivoted toward AI and compute on that side. So if that trend continues, I think that you're gonna continue to see a consolidation of the miners. Um, these treasury companies are selling off all of their Bitcoin in order to repay their investors and getting out of the market. I I could see it fall all the way to somewhere between 19 and 20,000.

SPEAKER_01 29:38

Really?

SPEAKER_04 29:38

And I will buy it then.

SPEAKER_01 29:39

I was gonna say, are you gonna buy it then? Will you get in? I would buy it then. Yeah, see, you know, it's kind of hard because when you sit there and you think, well, it costs you 19,000 even at that price for one Bitcoin, right? You could buy 19,000 XRPs.

SPEAKER_04 29:53

Well, I think when Bitcoin's that price, XRP will be a very different price.

SPEAKER_01 29:57

Yeah. Okay. Well, that would be nice. Talk about AI a little bit because you brought that up. You know, are you worried about AI and how that's gonna affect you know the financial part of it all and and what their people are using for that?

SPEAKER_04 30:07

Not at all. I'm super excited about it. Um, the agentic economy is going to be orders of magnitude larger than the human economy. Um, if they they talked to Elon about it the other day, and everybody has their opinions on Elon.

SPEAKER_01 30:22

Hi, I'm Phil Benamino, CEO and founder of Cost Plus Processing, the company that provides financial services to your business. We provide things such as POS systems, ATM machines, and check services. One of the biggest things that we strive ourselves here, cost plus processing, is a customer service. We are an A plus rated with the BBB customer service, and we're proud of the same we're here in the United States with all of our customer service meetings. Our objective is to actually teach you and educate you about the costs that you're currently paying and show you ways where you can eliminate those costs that you no longer have to pay. One of the biggest programs that are out there today is a people pricing program, where you actually can offer your customers an amount of choice of how they want to pay. Do they want to pay with cash or do they want to pay with card? And if they pay with card, it actually helps you to lose the woman with the card fees, so you no longer have to pay the fees like you've done for many, many years. For example, we have perfected the car dealership industry, and our dedicated team are equipped to manage a variety of online payment forms and financing options and merchants requirement in this advanced ecosystem of payments. If you have a restaurant, we're trying to be able to manage the only difficulties in the life from this fast-paced industry, and you're looking for head-to-table where customers can easily swipe their cards, have their cards, and make their payments with also have the choice of how they want to pay. We have the solutions for the human comment. We want to help other small business owners make their dreams come true. We're providing the fast money for support from every child to make the stories, having the ability to take payments, get them out of the money, and make accumulated, efficiently, and easy to have. So cost plus processing is on the front end of the AI. We can also provide you kiosk for your business. So customers can walk over to the kiosk and order anything that they want. Likewise, if you're having a problem getting employees in the kitchen to work, we can also provide you robots that will actually deliver your food straight to the customer. I want to thank you for the time that you took to learn a little bit about cosplus processing. And most importantly, why we are the future of merchant processing. I don't care what you think of him, the man is a genius. You know what I'm saying? The man is a genius, and he doesn't have to do any of the things that he's doing. He wants to make the world a better place and make things better. And he's, I mean, come on. You can't deny him that. It's a like you. Like listen, you weren't right about all your stuff, but you can't deny the fact that you have the knowledge, okay? And you believe wholeheartedly in it. You're not some fake just throwing things out there to get some views or get some people to, hey, join my company and sign up with me because I, you know, I'm the greatest. No, you know, you've done your homework.

SPEAKER_04 33:11

Well, I do, you know, I legitimately want to help people.

SPEAKER_01 33:13

Yeah, and and it comes across, you're very authentic. Elon, I feel is the same way. He's he's he's on a mission. His mission's not over. No, it's definitely not.

SPEAKER_04 33:23

Yeah. But um, where I was headed with that was um he said that the economy, the GDP of the world as it sits today, will be 10 times larger conservatively in 10 years. That is an extreme amount of growth. We have diminishing birth rates. We're not gonna be able to handle social security, like we're gonna run out of money. We we need some way to be able to generate uh significant amounts of value in society and grow GDP that's not predicated on capita or or people doing things. And the only way that's gonna happen is the adoption and proliferation of AI at scale. And we've seen MasterCard and Lease and Visa lean into that. We've seen you know all of these other companies. People are throwing tons of money behind AI. And I do think it's a bubble. I do think that there's some bubble to this right now. We've seen, you know, anthropic and and open AI, SpaceX acquired cursor for 60 billion dollars. Some of these valuations are frothy. Um, and there I do think there will be a pullback.

SPEAKER_01 34:26

I personally don't think there'll be a pullback. I think it's gonna keep growing. I think SpaceX is the real thing. Anthropic 2-3. I mean, they're still growing. I think what they're doing is spot on. You know what I mean? Like, and it's something that's like if you're not if you're not messing with it, you better, you know, because you're gonna be left in the dark if not.

SPEAKER_04 34:42

I would I would understand it, right? I'm not saying it to invest in it, but definitely understand the implications that it's gonna have on things. So uh with with all that being said, I I think that we're in for significant growth. I do think that we're we have to pull leverage out of the system and they've got to shore up currencies and and restructure the debt on things. But on the other side of that, I'm I'm super optimistic for the implementation of AI.

SPEAKER_01 35:07

But do you think it's gonna affect our financial advisors and that type of award? Oh, it already is. Yeah, I mean, so a lot of people are concerned about that, you know, losing their jobs.

SPEAKER_04 35:15

Well, that's fair. Um, so uh you know, I would just point to the internet. Um a lot of people lost their jobs to the internet, right? But how many more jobs did it create? Right. There's there's like we're on a podcast, if you had told somebody 30 years ago that this would be a thing and people would be watching this on YouTube, right, and social media was gonna be the craze and and how you were gonna connect with people, they would have looked at you like you had a third eye. Right. Like they they wouldn't have understood it. There's gonna be things that AI brings to the forefront that we don't even know about today that generate significant you know, but I I think also you're gonna have a higher standard of living because of all this. Um it's significantly deflationary. So we we anytime we've had introductions of significant, you know, changes in technology, the industrial revolution as an example, things got cheaper. And and that's what's gonna happen with this too. They need a way to be able to reduce the cost of production on things, reduce the cost of development. Uh have you done any vibe coding?

SPEAKER_01 36:11

I haven't no, but my my my office has. Dude, yeah.

SPEAKER_04 36:15

It is I got my developers working on the wildest thing that I have ever seen.

SPEAKER_01 36:19

Really?

SPEAKER_04 36:19

Yeah. So, you know, we've been working on software, I've been developing software for about five years. I'm not a coder.

SPEAKER_01 36:24

Uh-huh. Right, me neither. We've just worked with teams. But now everybody's a coder. Literally. Because you can do it.

SPEAKER_04 36:29

Yeah. You if you as long as you can set it up the right way, you can tell it what you want it to build. When Fable came out before they took it down, you could say, hey, build me a direct representation of eBay, but don't violate any copyright laws or IP infringement. Right. And it would do it. So like SaaS is gonna be completely disintermediated, it's gonna be wild. And and imagine, you know, I we've been working on software a long time, like I said. I vibe coded an app in two weeks that would have taken our team somewhere between eight and nine months and about a million dollars worth of development. And the quality would have been and it's it's 99% of the way there. They've got to QC it and and you know, make sure that the back end and security and cloud and all the stuff is done right. But like the coding's done. Right. So I just the cost of things and the production on this stuff is gonna come way down, and I think that's gonna provide people a huge benefit. Like, literally anybody can build an application and launch it now, right? Whereas before you would have had to hire an agency or a team and employ them and you know, all the other stuff and costs that go along with it.

SPEAKER_01 37:40

Because one of our guests actually that's here today actually coded an app that he was just talking about prior to the to the show. Um, and we'll let him talk about it. Uh Sean, Sean's here in the house. Hi, Sean. How you doing, man? Good. So um want to go ahead and introduce you. You know, Jay Clay had some questions. Obviously, you know, you're a big follower. We appreciate you following him as well as ourselves here at WMBAM Podcast. Um, tell him a little bit about some questions you had on your mind.

SPEAKER_03 38:07

Uh, first question comes around the NDAs. I think we all know that there's thousands of NDAs. I think there's like 1,700 NDAs at Revolution. Uh, I think a lot of us have been waiting for Kulane Falls to draw a court that's going to be zero first, right? And I think we're all looking for that. So can you give me any insight and know when you see some of those starting to come visible to the public?

SPEAKER_04 38:28

I think that those have a couple different things around them. Some of them may be time constrained. NDAs can be predicated on a lot of things. They're kind of like a safe agreement. So there's a trigger where you know they're no longer valid, right? Sometimes it's a time frame, sometimes it's an event when something's announced or or something happens. I I think so, and this is speculation, right? I don't have any direct information on this, but but the escrow, I believe that there are a lot of fenegotiated contracts with companies where they have options on the escrow or at least whatever wallet, you know, however much XRP is in. And and once those are released, I think at that point a lot of these NDAs will then be disclosed to the public.

SPEAKER_03 39:05

DTCC, the tokenization, right? So we heard they just recently bargained with XLM, which is stuff which we all love as well. So when do you think we'll start to see some price differentiation just with the utility of it in FINC?

SPEAKER_04 39:17

That arrangement between the DTCC and Stellar is supposed to go live in early 2027. Um, we just saw um toward the end of last month, actually it was big the end, the middle of this month, I think it was on the 15th or the 18th. They they rolled out the reconciliation component on-chain with the DTCC and they tokenized QQQ uh and ASBY. And that's their beta. Uh, October of this year is full implementation for the DTCC. And last year I was at Swell and got to listen to Monica Long interview the pre the president of NASDAQ, and she said that uh the first place that they would be utilizing distributed ledger technology is exactly in that capacity uh for reconciliation and settlement before the tokenization of the stock market. And so, you know, if if Octobers go live, then I would think that they would have to have settlement in place before then.

SPEAKER_03 40:12

Then we'd see it and fill it, which would be great. Yeah. Yeah, the thing that also that ties in ono. So it's on tokenizing the the stock market on all you've got a bunch of different players in the market.

SPEAKER_04 40:23

You got Securities, you got Ondo, you got you know, Stellar, like you mentioned, um, there's Canton Network. They've partnered with different exchanges to tokenize the real world assets of the stocks on those. But the reconciliation and settlement component of that is different. You would still need an Oracle like Chainlink, which is what I think is going to be used to be able to facilitate, you know, the price feeds from the traditional stock market into this tokenized economy and and these markets. But you know, you may have Robinhood that they launched their own, right? Blockchain. You've got NASDAQ that announced their partnership. I don't remember if it was with Securitizer Ondo, uh, New York Stock Exchange is with somebody else. So there's there's 16 different exchanges uh that all will probably tokenize through different counterparties, uh, but they'll all still settle back to the XRPL.

SPEAKER_03 41:10

I'm curious about your patience and commitment, right? So, like I think all of us, I've been in this since 2019. Um, we see the ups and downs of it. Uh, we all experienced everything to have somebody SEC. We all look at this and and feel like the market's manipulated. We're gonna have somebody and it is dying, somebody um um but so how do you stay impatient? Like oh everybody, that's a great question.

SPEAKER_04 41:34

You know, um I I kind of all the heat's on you. Well, I just I dig into the business, right? So for me, there's all these things that I want to have in place when this happens, and it's it's kind of been a blessing and a curse. If if this had happened at the end of last year, there's so many things that we've been able to develop over the last seven months that wouldn't wouldn't have been a reality uh for our clients. And so that's what I tend to focus on is what can I actually do today that moves the needle and you know puts us in a better position when this does happen. And and I think that would probably be beneficial for other people to do as well. You probably do this yourself. Sounds like you're by coding some stuff and and like working on things that are gonna be you're just gonna pour gas on the fire post-PA, right? And so that's what I try to do. You know, I hunker down. It's not that like I don't look at the price every day like everybody else does, but at the same time, I you have to live in reality. You've got your conviction on this, you believe that it's gonna be implemented, and so but what can I do today to actually move the needle for myself? Can can I take a course? Can I build something? All of those things are kind of what I try to focus on, and that's what pushes the time by in the in the meantime.

SPEAKER_02 42:42

You mentioned the local legislation stem US. Well, what about worldwide?

SPEAKER_04 42:48

Oh, yeah, they're moving. Nigeria just announced their Clarity Act around digital assets in their economy. Russia has moved forward with their legislation, Japan's moved forward with their legislation around digital assets. Uh, we we are gonna get left behind if we don't move.

SPEAKER_02 43:03

And you also mentioned the the PE ratio for the SP 500, which is definitely historically high. Is there a ratio or a measure for XRP?

SPEAKER_04 43:14

I actually wrote a whole white paper on what I call the liquidity index. And is this in your book? It's it's not in my book. Okay. Uh it was it was uh a PDF that we we put out uh a little while ago, but it it includes five different factors and and and how that ratio is comprised in order to be able to look at the liquidity in an asset that's for that. Because there tokens aren't all for liquidity and settlement. There are some tokens that are governance tokens for voting rights and participation in ecosystems. You have NFTs, which are a direct representation of things. There's there's a lot of different types of tokens that are out there, and they all have value in some capacity. Um, but if you're looking at something that moves value, I think the liquidity index that I put together is probably the remote, the most robust model for valuing that. Type of token.

SPEAKER_01 44:01

We got a seventeen year old in the house. We got oh, we got a youngster here. Baseball player. Okay. He's planning on going pro one day. I'm sure he's got a few questions because he's throwing some things at me and I'm like, give him the jake.

SPEAKER_03 44:13

What what advice would you give to like the younger generation who's trying to get into like digital assets?

SPEAKER_04 44:18

Congratulations on being 17 years old and even thinking about this stuff. Uh you know, at 17, I wasn't even a thought in my mind. Financial education, right? So I you guys know who Patrick Bed David is, I'm sure. Okay, be with him next month.

SPEAKER_01 44:32

I'm gonna be with him next month. Oh, beautiful.

SPEAKER_04 44:34

Value tamant. I've I've watched Patrick for a long time. One, YouTube, right? Like, so you probably found me on there. You you probably find Wham Bam on there. Find other people that you can aspire to be like and that you hold in a high regard and listen to what they say and learn from them. Like, I think that that's probably the best way to spend your time if you're a young person looking to develop yourself and put yourself in a good position. And understanding financial education, because you're not taught in school, like they don't teach you any of this stuff in school. If you're gonna be successful, if you do plan on having money or generating value in society at scale, you need to be able to deploy it and manage it and understand how all of this functions. Because if you don't know the rules of the game, you're gonna lose. So, you know, if if I could go back and be 17 years old again, uh, I would buy Bitcoin. There you go. Of course. Of course, no what you know now. That was that was 2009 when it was when it was rolled out. Uh so you know, that would have been a really good one. But I didn't have a ton of money back then either. And and I really, you know, personal development has been probably the the highest focus and the largest return I've seen in my life. I've I've paid a lot more money than I was comfortable with to be in rooms I didn't belong in and get around people that that were in positions that I would aspire to be in. Um, and that's helped me more than anything else over the past, you know, five, ten years.

SPEAKER_01 45:49

You know, what is the biggest lie you think Americans are told about money? Um, that it's in the bank. Yeah. Should you keep money in the bank?

SPEAKER_04 45:58

Well, you know, you're insured up to 250,000 if the FDIC would cover it if there were losses. Yeah. You want your money working for you in some capacity. And everybody has different risk parameters. Some people are very conservative. If you don't need the money right now and you do want it working for you in some way, a lot of people buy gold and silver. And, you know, I I had that, I sold my gold and silver uh earlier this year closer to the top because I thought, you know, I think I still think I think gold's gonna come back to around 2,000, 2100. Yeah. Uh I told everybody silver's pulling back to 50, and here we are at 56, 57. You know, I I think that you know, that's a store of value. So if if you want to maintain your purchasing power, that's a good way to do it. The SP 500 is also a really good way to maintain your purchasing power. I think that it keeps up with inflation, right? Real inflation, not what the Fed says or the CP LI. So, you know, those are two great ways to be able to maintain your purchasing power whenever you got the money. But to be able to grow your money and and do better than inflation, you're probably gonna have to take more risk with that than setting it in a money market earning five or six percent. So we work with people that have a lot of money to manage. Uh, we we deal with their crypto portfolio. And the way that they structure their portfolios, if they are managing billions of dollars, somewhere between 20 and 30 percent of that are in very liquid instruments. So treasury bills, bonds, cash, cash equivalents, that type. So that if they do have an opportunity that they want to take advantage of, they have the liquidity to do it. And then they get into more illiquid assets with the rest of their portfolio. The other, you know, call it 70%. Oftentimes a large portion of that's in real estate, somewhere between 15 and 25%. If they made their money in real estate, then maybe it's a lot more than that. Um, private equity is always a component of it for the most part. There are a few people that play upstream in that market, so they're looking for things that are closer to IPO with a shorter time horizon, you know, still have some meat left on the bone. You know, if you'd got in SpaceX a few years ago and then sold at the IPO, you about doubled your money. It's not bad in a couple years, uh, and that would have done better than inflation. Sure. Right. But it is a higher risk deal. But it's timing.

SPEAKER_01 48:06

And if you're trying to time the market, you know, you're gambling at the end of the day. And that's why I try to teach, you know, I teach these younger kids. And um, and if you haven't bought my book, you can go in money management for beginners, good opportunity on Amazon. Okay, it's the best $20 you'll ever spend. But the reality is, you know, younger generations, if they just put $300 a month away into an SP, into a into an index fund and not have to worry about it. It's like you own 500 of the biggest companies out there. Yeah, you got nothing. And then if you want to take a flight, you got a little bit extra cash, you want to buy some crypto, you want to buy some things, go ahead. But don't, don't, don't count on it, right? Right. And then when it hits, cool, great. Yeah.

SPEAKER_04 48:45

But maybe 15 to 20 percent of people's portfolios are on the high risk side. So to your point, you know, if if if you were going to use that same structure for call it your extra 300 bucks a month, you might be throwing, you know, 20 to 50 bucks in crypto. Right, exactly. And and the rest of the three.

SPEAKER_01 49:04

It doesn't sound like a lot. Well, that for like a 17-year-old, but it's 2060, right? Look what that number's gonna be. Right.

SPEAKER_04 49:10

Well, and so what's the eighth wonder of the world? It's compound interest. There you go. Right? Yeah, um, so it it's not about timing the market, it's about time in the market.

SPEAKER_01 49:19

Exactly. And that's the whole thing that's like just get started. Yeah, and you know what? There's not a certain time. Some people like, oh, I'm too old, I missed it. You know, I'm 40, I'm 50 years old, I can't no, get in, just start. It's like just start. That's what it takes. You know what I mean?

SPEAKER_04 49:35

People people find all kinds of excuses not to not to try, you know. They're like, Oh, it's just gonna go down anyway, or nothing works out for me. The things that you speak over yourself is what happens in reality. Yeah. So if if you want good things to happen to you, you have to start talking positively to yourself and you know, putting that out in the universe.

SPEAKER_01 49:55

Right. All right. So this is the time where we do our rapid fire questions, baby. We got some new ones for you today. All right, you ready for this? Yes, sir. All right, here we go. Gold or Bitcoin? Gold, real estate or crypto. These are today. We're talking today. Okay, real estate or crypto stocks or private equity. Private equity. Biggest bubble today.

SPEAKER_04 50:11

AI.

SPEAKER_01 50:12

One investment everyone should own. XRP. We're waiting for it to be a long to come up with another.

SPEAKER_04 50:19

Again, I don't want to give people financial advice on stuff, you know, but for me, if I if again, I'm just speaking for myself, that would be the one that I I think has the least amount of risk personally.

SPEAKER_01 50:30

One investment everyone should avoid. Tether. What's tether?

SPEAKER_04 50:33

That's uh stable coin, uh the largest stable coin.

SPEAKER_01 50:36

Okay, okay, that's right. We talked about it. All right. Um, and I was that brings me back to the banks because you had mentioned that prior to about the banks of America and them gonna get into stable coins, but that didn't really happen either.

SPEAKER_04 50:47

Not yet.

SPEAKER_01 50:48

Not yet.

SPEAKER_04 50:48

Yeah, we we've seen we've seen Fidelity launch their stable coin, we've seen PayPal launch their stable coin, uh, Stripe is launching their stable coin, um, Bingie Token. There there have been a few people, but Bank of America came out and said, you know, until we have guidance from the OCC, we're ready to go. We have our stable coin, but we're not going to launch it until we have that.

SPEAKER_01 51:08

Gotcha, gotcha. All right. Most underrated asset.

SPEAKER_04 51:12

XRP.

SPEAKER_01 51:13

XRP. Most overrated asset.

SPEAKER_04 51:15

Bitcoin.

SPEAKER_01 51:16

Okay. A book everyone should read. The future is faster than you think. Who's but who's that by?

SPEAKER_04 51:22

Um I'd have to I don't remember the the author's name on that one. You you can look it up on Amazon. It came out in 2018, 2019. It talks about the convergence of all these different technologies that we have today quantum, uh, AI, blockchain, biotech, 3D printing, and and how they actually it's like a one plus one equals three type situation.

SPEAKER_01 51:42

Gotcha. Now, you know, you obviously worked with a lot of different types of people. What's the difference between someone worth say a hundred thousand and someone worth a hundred million?

SPEAKER_04 51:51

Patience is the main deal. I I would say, you know, pe people that have a hundred million dollars, they didn't get there by being hype driven. They were consistent with something over an extended period of time. They went through a lot of suffering and agony and pain and endured that in order to be able to get a liquidity event in in whatever they ended up making their money in. They have more grace around things, more understanding. They are are patient and they're not looking for this to happen tomorrow. It is it's a seed that they're planting, whereas the you know, the hundred thousand dollar person, they have not made their wealth yet. And there's two different modes there, too. There's wealth creation and there's wealth preservation. And those are two very different skill sets. Yeah. And and that's probably, you know, when I'm working with those two different people, the sense of urgency that's on this side is significantly greater than somebody that's that's already in a position where they don't have to worry about money.

SPEAKER_01 52:49

Right. Makes a lot of sense. Makes a lot of sense. All right. Last question I want to ask you. If someone suddenly made $20 million, like I came up with $20 million, what are the three things that they should not do?

SPEAKER_04 53:01

Lifestyle creep. Uh within the first six months, I would just hang out in your current house, maybe even keep working your own job that you currently have, and let that money, you know, sit. And I would get good professionals around you that understand what they're doing if you don't have the financial education. Um, I'm gonna speak to it like it's a lottery winner, right? Like it's somebody that, you know, they're working at McDonald's or their Home Depot, or you know, they're just getting by and they're paycheck to paycheck and they come into this amount of money. That's that's a big change. Um, but like I said before, wealth creation and wealth preservation are two very different skills. And so if you're gonna stack up a bunch of liabilities, eventually that money's gonna run out. You need to be able to put the money to work and live off the interest so that you don't touch the principal. And most people don't do that. Most people go out and and YOLO and buy a five or ten million dollar home, they buy the Ferrari, they don't understand that they need to own things in an LLC, they get sued, somebody that they don't understand the tax implications for that $20 million and how much they're gonna owe Uncle Sam. And and before you know it, you've burnt through it in three to five years and you have to file bankruptcy. Which is horrible, right? Like you that should be a blessing. You should be able to manage that for the rest of your life and set your kids' kids up if you do it the right way. But a lot of people just don't have the financial education, so that would be the other piece. The third one would be educate yourself. Take take that six months, breathe. It's not going anywhere. It's gonna be in your bank account, it'll be okay. And make sure that again, you're working with good professionals that can educate you or seeking out good people like yourself, reading books like you've written, and and understand what to do with the money in order to be able to not squander it and structure it the right way for your your family.

SPEAKER_01 54:49

Yeah. Um, those are great advice for all the things you should do. What would you tell them to stay away from?

SPEAKER_04 54:54

Buying Lambos and buy buying a bunch of liabilities uh immediately. I'm not saying don't enjoy yourself because like everybody has things that they want. You can buy gold like around your neck, yeah. You know, it's no gold. Nice watch. You know, there's things that hold their value. Yeah, yeah. I wouldn't immediately go out. I I would look at buying, you know, a real estate property that could pay for my home or a car wash that could pay for my lease on my car. Um, I would not tell everybody, I would keep it to myself. I would call my my attorney, my CPA, and my spouse, and that would be who I would have the conversation with. Keep it quiet because if everybody knows, everybody's gonna be hitting you up. Um, and I would structure something that there's a process and a procedure for when people do come to you for money because people are gonna find out, right? Like there's there's gonna be signs. And so, you know, people are gonna be like, oh, you're doing pretty well, you know. I need this money for this or I need this money for that. We help people structure a financial committee and a family board when they work at the family office level. 20 million is actually the minimum where we we start working with people in that capacity. And that way, you know, you know, Uncle Johnny comes to you and he says, uh, you know, I need $100,000. I want to start this business. You say, would love to give it to you. Please send me your prospectus and your business plan and and all the documentation around it. I'll submit it to the board. If it meets our parameters for risk and how we were going to invest the money, we'll make an allocation. And then you're not an asshole. You didn't tell them no, and they don't they they have to give you respect that you've set a system and process up. Yep. And if they don't, then they probably weren't your friend or your family anyway.

SPEAKER_01 56:30

Right, sure. Everybody's got the handout, you know. They're there when things are great. Yeah. Or they're there when things aren't so great. Yeah. That's the difference. And that's what I'm I respect about you, Jake. You know, like I said, you being here today, and and I know you came in here knowing you're gonna take a little bit of heat, yeah, yeah, you know, and stuff. And I'm sure the viewers are gonna throw some stuff at you.

SPEAKER_04 56:48

That's okay.

SPEAKER_01 56:48

But uh, you know, you're as real as they come and really appreciate that. Thank you, man. So last but not least, where is XRP gonna go in the next three or four months? Do we have anything? Do we have any ink anything that you can give us that you think where it's gonna be at? Let me just say by the end.

SPEAKER_04 57:04

By the end, and on the last one, so I'm hesitant to give you anything. Um what do you feel safe with?

SPEAKER_01 57:10

You think it's still gonna drop? 100 bucks?

SPEAKER_04 57:12

Is it gonna go under a box? I feel pretty safe with a hundred bucks in that time frame. Yeah. Yeah. So again, you know, we mentioned the DTCC and the tokenization of the stock market. And and we're at the moment when the reverse carry trade is gonna unwind any time now. Like they've been able to kick the can and kick the can. They held rates today. Our dollar continues to appreciate against the yen. If if Japan doesn't raise interest rates at this point, their yen's gonna collapse. And if they do raise interest rates, the reverse carry trade unwinds, and we see all this margin pulled out of the system. So, you know, in the next three to four months, maybe by the end of the year, um I don't see there's any way that XRP can't be at least $100 and and facilitating at least a portion of the settlement for back into the stock market, FX commodities, and and Swift.

SPEAKER_01 57:59

Yeah, awesome. Well, thanks again, man, for being here. I really appreciate it. Any last thing for the viewers?

SPEAKER_04 58:04

Uh if you want to learn more about what we do uh and contact us, we do have a mastermind group. It's at beyondbroke.com. We have over 17,000 people there that we provide financial education for and business resources. Uh, and then on the crypto side, if you have a significant allocation, whatever that means for you, uh, we'd love to work with you, help you structure your estate, mitigate taxes, maybe do wealth management and have an account over there in institutional custody at Anchorage. Uh, and we're rolling out a lot of products in the next six months to be able to put your assets to work for you and create cash flow because that's the name of the game. So and all that's at DAG.com.

SPEAKER_01 58:36

Is there a mean is there a minimum there for that?

SPEAKER_04 58:38

On on that side of the business, it's 50,000 XRP or at least half a million dollars in total portfolio value.

SPEAKER_01 58:44

So there you have it, folks. Gabe Claver in the house. Told you right now, XRP is still growing. Don't get sad, don't be upset. In fact, if you want, go to find some more. And employ when a bam always says, remember, if your life was a movie, would it be worth watching? And if the answer is no, it's not being ordinary, it's gonna be extraordinary.