CLARITY Act Passing Could Trigger A MASSIVE RALLY! AI DOOM?! Fed Hike 85%?!

Transcript

[music] [music] [music] [music] 17 floor. We'll see you around the timeline.

[music] Feels good to be back. >> I think The Rollup is one of the most premier [music] media brands in crypto and Andy and Robbie are great experts at everything they talk about and it's my favorite podcast. >> Adding it to my library every week. >> Potentially multi-chain deployments. Here we are at day [music] one. Here I'm testing from base. [music] [music] [music]

>> [music] [music] >> Heat. Heat. [music] >> [music] [music] >> JP Morgan, Black Rockck, DTCC, Fidelity,

the entire thing was just institutions. It's just it's next level. This industry is going to the next level. And guys, I I don't know what else to say. >> I'm bullish. >> He said it. He finally said it. So bullish. >> It is bullish. I'm bullish. We're bullish. [music] Heat. [music] [music] [music]

[music] Heat. [music] >> [music] >> Heat. Heat. [music] >> [music]

>> Corola [music] is Heading to the top. If we're not already at the top, we're going to the tigers. >> Roll up is my favorite. >> People from all walks of life, all over the world, all over this industry [music] come together for the roll up. [music] [music] [music] >> [music] [music] [music]

[music] >> Zoom out. The institutions aren't coming. They're simply here. It's the golden age of crypto, guys. Get right. Let's go. [music] Welcome to the nest. See you on the show. >> Yo, what is going on? What is good? Hello, rollup army. Helloup family. Happy Monday. Today is September 14th. You're watching the rollup. We are live from the tokenization tower, the financial capital world here in New York City, the Empire State Building and we got an insane week for you guys. Like this is gonna be the biggest week in rollup history.

Biggest week in rollup history. And I can't even I can't even give it away yet. But I got a bunch of stuff for you guys today. So we got the giveaway. We're going to announce the winners of the giveaway from last week. We got the biggest announcement of a guest coming at the end of the show. We're doing like a little Jim Cob bear tonight show type vibe. Saturday night. Saturday night vi live vibe tonight 6 p.m. you'll you'll hear who's coming on very soon. But guys, what the hell happened? What did you guys do? Uh I mean, look, one little headline from Trump saying that he's going to give into the ethics

provisioning and we're ripping and clarity is gonna pass. I was wrong. I was wrong. Well, not yet, but boy, I will. People don't like to admit when they were wrong. And I will be so happy if I I will publicly come out and shame myself. And I'm already am. I'm already trolling myself because I hope I was wrong. I hope clarity comes through and the tokenization exemptions. Hope they all come. Guys, as always, we're here M&S powered by our friends at Plume. Plume's doing amazing work powering the future of RWA on Shane. Let's give him some love. Um, we got an amazing show for you guys

today. We've got an amazing show. I mean, just so I had a great weekend. I We had a a really long week. Friday, we did a pre-recording for a new show that we're launching tomorrow. More details on that will be coming out soon. And I went to the US Open. And I went to the US Open on Friday night. I left the office, Uber Black XL, banging Rod Wave. None of my friends wanted to go. Absolutely none of my friends wanted to go. And it's Ben Shelton versus Thafo. And Ben Shelton went to University of Florida. That's where I went. And so, you know what? I'm like, you know what?

You can just do things. I'm going to go solo. Ticket was like 500o. Whatever. Let's go. Uber black. Pull up right on time. Get in my seats. Start talking to this dude Jerry. He's got like 1,200 on the match. He's clowning. He's drinking. He's having a good time. Anyhow, I get to my actual seat because in the US Open, everyone kind of sits wherever they want. And then you wait until you know somebody tells you to leave. Anyhow, I sit in my actual seat and I'm talking and this is couple or this couple and then there's four friends from DC and they're all cheering for Tafa which is fine. Whatever. You know, tennis is great. The tennis fans at the US Open are the top of the line. Like it's not like NFL or NBA or soccer or it's just top of the line. Like it's

just these people are classy. They're respectful and they're fun. Anyway, I get to talking to the guy next to me. The guy's a famous actor from LA, you know. He's been in Pretty Little Lies. He's been in Grey's Anatomy. He's like 55. I'm showing him the roll up. He's like he's he's he's all for it. He's like, "This is sick." He's like, "Wow, you guys are in the Empire State Building like doing this blah blah blah." Right. Anyway, he starts to give me some tips about like annunciations and voice and vocals. and we sat there for like 30 minutes just talking about acting and playing the part and all his learnings of 10 years of acting school and being an entertainer and I don't know man I I just left the stadium

Shelton won the stadium was so sick um went home and just chilled and I just left that and I was like you can just do things like New York 27 a little bit of cash you like some sports dude the last three months have been insane. If you're a sports fan in New York, the last three months have been nuts. And so on Sunday, yesterday, and I'll get to all the clarity stuff in the chat, and I know it's going to be wild today. Um, and so I get to on Sunday, I'm just like, you know what? I got to go for a walk. Like, you guys are going to realize what we're about to unveil this week and you know, just the guests of what's coming. So, I'm like, I got to clear my head, right?

And and so I'm going on this walk and I'm just thinking to myself like Sam Alman and Daario and Elon are all screaming AI doom. Jacob Coxin is saying we're all going to die. Like the Clarity Act is about to potentially pass. Crypto might just gigend. And I'm just thinking to myself, I'm like, dude, nobody cares. Like nobody outside of our bubble is actually thinking about this stuff on any given Sunday. Like I'm walking around the Westside Highway, you know, I got my headphones in. I'm hanging out and I'm just thinking to myself, I'm like the leaders of the AI world are

telling us that we're all going to die and nobody cares. Like we are in such a bubble. Like we're in such a bubble that you know, clarity, tokenization exemptions, AI doom, Fed interest rates. Dude, none of this stuff doesn't even cross the algorithms of the people walking on Westside Highway or jogging. I mean, it's just a bunch of Chads and babes out there. It's It's insane. And I'm just like sitting on the picnic table watching kind of like like the sunset. And I'm just thinking to myself, I'm like, man, the world really is a lot better than what the doomers

online can can see and can make you feel. And I'm telling you, I'm telling you, the AI industry has lost its aura. Like, it is in a generational crash out right now. It started when Trump and and Sam Alman were like, "Look, we're gonna be we're gonna be buddies and I'm gonna take 5% of your company and like we're not going to call it like nationalism or communism. We're just going to call it like protecting the US Department of Defense and the Pentagon with this strategic allocation of equity worth like $80 trillion."

Dude, as soon as that happened, aura crash out. It's just been it's been just down only since down only. The public perception of AI leaders has never been worse. Like never. Like I know crypto had SPF, but I'm telling you, these AI people have looked down on the entire crypto industry for the last, call it a year and a half. They've just thrown them to the side. Little do they know the solution to all their centralized AI fugazi is actual, you know, decentralized AI in the form of the stack. And we have so many episodes on our YouTube about this so you guys can

go watch. But they're going through a generational aura crash out right now pre uh IPO of anthropic and crypto is going through a generational revival. Like if you're an AI, pivot to crypto. Like take your portfolio and pivot to crypto because we are getting regulatory clarity. We are getting real usage across the board of some of the best and brightest minds and exports. We had this massive brain drain from the industry right to AI. Dude, if you pivoted to AI over the last 18 months, I'm sure you did well. I'm sure you're positioned with some nice equity deals. But man, man, if you're an AI, pivot to crypto,

man. If you're an AI, pivot to crypto because they're going through a generational aura crash. Anthropic a IPO, instant fade. Open AI, Arthur Hayes says that they don't even have the economics to get it off the ground. Instant fade. AI crypto rotation is already happening. If you look at the Bitcoin QQQ chart, it's clear generational or crash. generational generational and guess what tomorrow we might get clarity act so I know we got a lot to to talk about guys um if you're an AI pivot to zcat I am a zcat holder hell yeah aob knowledge is power arand Mr. letter OG Jerx Andy got laid this weekend. He's

happy I did not get laid. Rugrat who won. Uh Shelton won the semis but lost the finals. Debbiey's in the chat. Debbiey's in the chat. Daily Finance, Freedom Guy, Luca Flex, Supercluster, Daily Finance, Mesma. What's going on, guys? Great to have you. Great to have you. Great to have each and every one of you guys. All right, guys. So we got clarity, we got the tokenization exemptions, we got the market, we got AI doom, we got special guest, we got giveaway winners. So the giveaway winners, the special guests are going to come at the end of the show. We have two guests. One uh the first guest is Orrist of One in the CLLO uh the chief legal

officer. He's talked fully about clarity. And then we have Ryan from Plume talking about what they've launched in the tokenization space, clarity, and more. So, it should be a good show. Um, and look, I'm stoked. I mean, look, I'm stoked. I'm stoked. I mean, this is just I put out a tweet that said like, "No matter what, we dig a send." And, and I'm going to I'm going to highlight that at some point on the show today. But, man, everything looks really good, guys. Everything looks really good. All right, let's get into it. Before we get into the weather and the markets and more, let me tell you about dinari. Building infrastructure for tokenized US equities and bringing world stocks onchain. To explore onchain access to public markets, visit dinari.com to learn more. Guys, it's 75 degrees. It's sunny. It's a nice day in

New York City. Uh we have a crazy week, so we're going to we're going to be live from uh the Avalanche Summit on Wednesday and Thursday. We have an insane guest lineup there. Black Rockck, Secur's Eyes, massive VCs, um Morgan Stanley's, just pure finance, just like massive institutional finance appeal. Uh and then we have Circle Arc mainet launch on Wednesday night. So we'll be doing two streams Wednesday, one stream Thursday, no stream Friday.

So it's going to be an insane week, guys. Absolutely insane. Are there odds up for the clarity being broken up into chunks after it fails? That was my initial interpretation. I still think it's likely. I hope clarity passes. Um, that's the weather. Let's get into the markets, guys. Before I do, let me tell you about Forex. Building infrastructure, the future of digital money, open, stable, borderless. For more information and start using the future of digital money today, visit net.frx.com/rollup. [screaming] All right, guys. Here we are. It's green. It's green. I mean, it's green. I mean, there's no way around it right now. We're green. I don't know. Look, we have crazy crazy crazy things to kind of deal with.

The first being the Clarity Act, the closure vote tomorrow, and the second being the Fed Federal Reserve interest rate hike. Trump just tacoed right now. I don't know if you guys saw, news just hit the desk. Trump has said that Iran is open to a deal and oil is dumping. Oil is dumping as we speak. It's down a couple percent. I believe it really flew the last couple days. It's dumping. You can't tell me this is a coincidence. You can't tell me President Trump is specifically making a proposed deal with Iran for the nth time, two days before the Federal

Reserve decides their interest rates. You can't tell me that's You can't tell me that's a coincidence. Guys, there is a scenario where we puke. I'm just going to be honest. There is a scenario where we could get in where we could puke, but I think it's less than 20% chance. I think it's less than 20% chance. As always, guys, our markets are powered by our friends at Zama. Visit zama.org to learn more about their confidential USDC vault on Morpho as well as their new confidential technology powering a lot of smart contracts on Ethereum. Let's get into the news and more. Before we do, let me tell you about Near, your home for

building, discovering, trading per swaps, intents, and more on Chain. Visit the rollup.near.com to get started today. Get 20% of your trades back in near tokens only on the rollup. Again, the giveaway announcement will be made in the coming hours, guys. I mean, we didn't really cover this, but this has been hilarious. I mean, let's just watch this video. We got to watch this video. This is Hunter Biden after he launches Memecoin. We have more to say on this and I have more for you guys on this in two hours, but that's all I'll say for now.

you put on one and a half here. It has been a long couple days, but I'm used to long days. I want to want make one thing clear is that this is my [ __ ] token. I've been working on this thing for six months straight and I have gone in deep in terms of cryptocurrency and understanding exactly what I was getting into. And what I was getting into was trying to do something just marketkedly different than what has been offered up to the to the community in the past two years. That's something that actually could help build community and do something that's worthwhile. And to that end, that's why we have a 20% airdrop to

both my Substack subscribers, but also to people that lost money on the Trump token and airdrops to come in the future. And not only that is that we also build into it a charity component that's really really important to me that ultimately will go to uh charities related to recovery and addiction. And then the first ever prediction market embedded into a coin. I was intimately involved in every single discussion, every single step of the way in creating the tokconomics and creating the way in which the coin would be presented. And you know what? At the end of the day, it's my responsibility. And there was a [ __ ] The [ __ ] up occurred in the first 30 seconds of launching the coin in which the market maker for some unknown goddamn reason only put in

$5,000 of liquidity and the demand was through the roof. And what happened was is that the coin went up to $2.39 and then it went to $316 to go $316 billion market cap, larger than the market cap of [ __ ] goddamn Black Rockck. And [laughter] they got it under control, but not before the damage was done in terms of making it look like not just a Christmas tree, it look like. I am in this to the end 100%. And I promise you is that we're going to make it right and we're working our asses off to make certain that we can do that. So stay tuned for more information. But I just want everybody to know this isn't some [ __ ] [ __ ] celebrity token where I get on on Twitter and say, "Oh, I didn't know about this and you know, I'm really

sorry. This is I'm it's my responsibility, but I promise you we are going to make it right and we're doing everything that we can to get more liquidity and volume into the market." So stay tuned uh and I will be talking to you regularly uh going forward. >> Wow. Do you guys believe him? Do you guys believe him? Curious what you guys think. Chat, what do you guys think? Look, I actually do. I I I don't I I don't think he came out and was like, "Look, I'm trying to rug the community. Let's Let's move on. I I I don't I don't think he was like, "Oh my goodness, like what's the best way for me to make this chart look like Mount Everest?" I genuinely think that he Yeah, he didn't he didn't he didn't mean for this to

happen. Yes, Supercluster believes I believe him, too. Thanks to W half a percent of laptop goes in the fire tomorrow because of you. Go birds. So basically from what [snorts] I understand from Hunter's mechanism is that you can he's got like this predictive allocation design where I hate him. AB says um where he somebody gets to decide to bet on sports. I don't know what does what the hell does the note say? um like you get to so basically he puts up the percentages of of the supply to bet on sports. So there's a Eagles win triggers a burn. So the laptop token

uses political, cultural, and sporting outcomes to trigger token burns and keep holders engaged. So if you go to the next one, you can see that the burn permanently removes tokens from circulation from circulation. Sorry. Tying laptops supply mechanics directly to real world events. So he just put 0.5 of the supply on the Eagles to win and they won. I believe him. There will be more of this tokenization of culture. Wait until Taylor Swift launches her own token.

Yeah, I hear you. Nosm basically I don't know if people actually believe that this can bring real value. That's the thing. But I just wanted to highlight this cuz it's turning real world events into like a meme mechanic for supply burns, which is like pretty interesting. Also, I I just don't know like who chose to bet on this. Was it like Hunter himself? Was that his bet? Was it somebody else's bet? Um, you know what I mean? Like I don't know who's like who is who is betting? You know what I mean?

So, all right guys, 10 second break and we'll be right back with clarity. All right, this is going to be hot, spicy, and fun. Here we go. [music] [music] [music] Heat. Heat. [music] We get we get

we get deep know we get deep we get deep know we get deep [music] know we get deep we get deep know we get deep we get we get deep [music] we get deep we We get deep. [music] You know, we get all righty, guys. Uh, is clarity coming

or not? I mean guys, this has been a bit of a whirlwind. If you So, if you've been watching the show, you heard me get the tip off like like I I guess last week from somebody in DC that clarity was basically not going to happen, right? Like we got it was pretty clear that and we can go solo on this, right? So, we got the tip off that, you know, clarity wasn't going to come. like it was more than likely going to be a tokenization innovation exemption and it you know it's not going to pass and at that point on poly market it was it was I don't know what it was 15%.

Now we're at 28% chance overnight off word that Trump's ethics provision may provide the firepower to get this over the line. And so my question is [snorts] like I mean obviously the million-dollar question is is it coming right? But let's just take this through the time chronological event. So, let's go ahead and pull the screen up. So, Cynthia Senator Cynthia Lumis tweets, "Big things are coming." This was like at 1:30 a.m. or at midnight last night. And that was after the news hit, which was I

believe it was at it was at 10:30. We got this news that all of a sudden Trump has given in on on the ethics provision and a couple of others, and there's a strong chance that clarity could pass. And so I'm going through the motions, you know, I'm tweeting about it. I'm getting in my DMs. I'm asking people about it. And, you know, let's go ahead and go through now. So, we get to this we get to this um understanding, right? And if you pull up the the Tradfi tweet after this one, you can see the exact provisions. And in this Trafi tweet that dropped at about 10:30 last night. Yeah, here it is. Let's pull that one up. Um, you can see that he basically agreed to

a new bipartisan ethics provision in a massive crypto bill. He says that the Trump has agreed to crypto ethics provisions in a sweeping bill headed for a vote and the updated bill requires divesting or placing crypto interests into a blind trust. So, this sounds great, right? Like, like what's the market doing? ETH 2535 right now. Bitcoin ripping, oil's coming down. Trump's uh Trump is tacoing. Um thing looks things look great, right?

But but we still have 24 hours till the vote. The vote is about 24 25 hours from now. So look, I mean, I'm not going to sit here and admit that I was wrong right now. I'm willing to be wrong. I would like to be wrong. I would prefer to be wrong. I would prefer that we get clarity. I would prefer that we don't have to just suffer and then do these tokenization exemptions. But either way, either way, I think the gigas end comes. So this is what happened. So Senator Lumis tweeted that that that you guys saw after this.

Now let's roll through it. So let's get into the other tweets. the the Elizabeth Warren push back and the uh Indian Reserve push back. So then we So So then this hits the wire this morning and Sunday night the Democrats were having a meeting. This hits the wire from the Republicans. Senator Lumis tweets that big things are coming. Now this morning, what do we see? Well, we see Elizabeth Warren. And Elizabeth Warren, she is not happy. Can we get the Elizabeth Warren tweet, please? Um, she is not happy. She is pushing back that the actual um that the that the it might be in the

telegram that the um actual rules of Trump's basically Trump's dealings in ethics, they are basically not enforceable. That the DOJ would have to be the one who enforces this law. And that in the current text of the Clarity Act, Warren's, Senator Elizabeth Warren, the witch, her bankers are basically claiming that it's not good enough for them. Not good enough for Elizabeth Warren.

Are you kidding me, Elizabeth Warren? Are you kidding me? This woman has been anti-crypto her entire campaign as a senator. She's been anti- everything. She has the audacity after we gone through months and months and months of trials and tribulation. She has the audacity, Elizabeth Warren, to push this off. Are you kidding me? Kidding me? She is a witch. She needs to go ASAP. She is anti-crypto. She's anti-inovation. She is old. and she is completely off of her rocker. She's done. She's done. She's done. She's

done. She just needs to just leave because she's still pushing back on what we believe and from what we've heard is some of the fairest fairest drafts of the Clarity bill that we've seen yet. Can we please get the tweet up? It's in the curator chat. It's just it's insane. And so the other thing that happened, so that was Elizabeth Warren. That came out about 9:00 a.m. this morning, 10 a.m. Then we got push back from the uh uh I guess like the native Indian reserve complex. I'm not exactly sure how this works, but in America, there's casinos that are on native land. You can't build

on that land. That is fully their land. Um and there's just a lot of these, you know, like Cherokee casinos and whatnot, right? And it is in in that land is where a lot of legal gambling happens. So what they are pushing back that prediction markets that they are carving out prediction markets from the DeFi exemption language. It doesn't address the concerns of the Indian country. And so they are absolutely making it clear that they are opposed to this new version of the clarity act.

So the Indian country is making it absolutely clear that they are opposed to this version of the clarity act because prediction markets and the clear intent of allowing Congress by allowing gaming to occur on platforms such as Poly Market and Koshi. Unreal. Unreal. So these these are just massive land land with organizations on top and all they do is prohibit legal gambling in the US. And so you're telling me that the push back is that they aren't they aren't ahead on prediction markets? There is no prediction market offering

in casinos in the USA. Doesn't exist. I trust me, I've been to so many casinos. It does not exist. And so we're getting push back right now from casino ownership groups, corporations about Poly Market and Khi. Are you kidding me? That is missing the forest from the trees 10 times out of 10. Unreal. Unreal. Honestly, unreal.

What's the worst case scenario? The bill fails. I'll get to that in just a sec. I'm gonna finish off this. Okay, so let's get back to Elizabeth Warren. So, Elizabeth Warren, here it is. Warren staff is arguing that the state AG, so the attorney general attorney general powers are simply a mirage. Only the DOJ can bring enforcement actions and no action may be brought if White House ethics officials clear the crypto activity. And so from what I understand here is she is trying to take retroactive punitive action against Trump.

Whereas and basically saying that the that what is in the current bill is not enforcable by law in the court of law and that this is not going to be able to hold up. Oh my god. Look, none of us agree with Trump's ethics. Like, let's just be clear. The guy is pushing the limit on what is legal at the position of maximum power in the entire world. Like, no doubt about it. No doubt about it.

Trump's memecoin was a total total total total mess up. Totally unacceptable usage of power to make enrich himself and others. totally with that and I understand Elizabeth Warren's point, but you're telling me that he came to the table and he was willing to put all of his interests into a trust, forego any of the profits, aligned on all these ethics, and and Elizabeth Warren just hates crypto that much. She just hates crypto with a passion.

And it's disgusting. It's disgusting. It's disgusting, man. It's gross. The way that she frames this whole industry is gross. And look, I don't blame her. We had this industry's perception is I mean, me, we've we've we don't take ourselves seriously. How does the rest of the world going to take us seriously? But now they are. Now they are. And now we are entering this legitimized era of the industry. And so you're telling me Elizabeth Warren and the Indian Reserve is going to be the ones that stop us from getting clarity through? I don't buy it. I don't buy it.

And I don't want to buy it. I want to be wrong. And so all of this coming together, let's put it all together, okay? What is going to happen? Let's pull the gigasen tweet up, please. What is going to happen? Well, no matter what, we're going to go higher. That's my take. Actually, let's keep this Bernie one up first and then we'll get to the and then we'll get to the giga. So, the vote is tomorrow, 2:15 p.m. Eastern. The Senate takes his first procedural vote. This is the vote just to end the debate on whether the United States should even consider the bill.

This is called the Cloer vote. So that's tomorrow. If the Cloer vote passes, the likelihood of clarity in my opinion on Poly Market will jump to over 50%. And then we'll have a real dog fight. We'll have a real dog fight. A real dog fight. Like it'll be I think it'll come down to the wire and there's a strong chance it could pass. We got to get the closure vote through tomorrow. That's the biggest most important key. And we have an amazing guest coming on in just a couple minutes who's going to talk us through all this from the legal perspective. He's a chief legal officer of 1 in. It's going to be great.

But we got to get this closure vote through tomorrow. That has to happen for us to see clarity through. We've been through hell and back. It's our turn. I agree. Everything moves on without the clarity. We're going so much higher. Buy the cat. To be fair, Trump, I'm sure, has some loophole. Either way, Gigasend prices are chatting higher. Yeah, they are. Yeah, they are. And they're going to keep chatting higher. Let's go to the Let's go to the Gigasend tweet. All right, guys. This might take in my mind. And Robbie would agree if I wish he was here. He's flying up to New York right now. So, Robbie will be with me all week. We have an insane stream tonight. Like, I'm going to tell you guys who's coming on tonight and announce it. It's going to be It's going to be bonkers. It'll be absolutely

bonkers. It'll be absolutely bonkers. If clarity passes and the Fed holds rates steady, we gig ascend. If clarity doesn't pass and the Fed holds rates steady, we gig ascend. If if clarity passes and the Fed hikes, we pause, then gigasend. If clarity doesn't pass and the Fed hikes, we puke, base out, and then gigas ascent. comfy in spot much much higher by the end of the year.

Much much higher. So look, in my mind, the Fed meeting is far more important than the Clarity Act. To me, the Clarity Act has has already been considered dead by the market. And if it passes, if the Clarity Act passes, we will send harder than you could even imagine. It will be insane. But in my mind, it's been dead since July. And the market has already priced that in. The market doesn't care about clarity. It's a cherry on top. It's a total cherry on top. The Fed is driving everything right now. And so, if the Fed hikes, there may be short-term volatility. Now,

I think it's going to be a bullish hike. I think it's going to be a bullish hike either way. If you if they hike or not, I think it's I'm not worried about it. End of the year, way higher. It's just a matter of what is the the combination that's going to happen. Either way, two of these four options we send immediately, like straight up to like straight up tomorrow, like flying through the week, like insane pump. One of the three we kind of chill out for a little bit and then we fly. The other option we dump hard. We dump really probably kind of like pretty

hard. Like we like we puke, we wreck all longs, base out for a week or two, maybe a little less, and then we fly. So, let's get to this uh altcoin daily post because he's saying that the Fed rate hike is now likely, which I think is like an insurance hike. It's definitely possible. Um, so markets are pricing in an 85% chance of a 25 bips interest rate hike. This would be the Fed's first rate hike in three years. But it's already priced in. It's already priced in. Scroll down. Here's the counter narrative. Trump picked Worsh on purpose. Wouldn't you think that not hiking rates before midterms would have been a prerequisite for Trump to nominate him in the first place? If

that's the case, are we really supposed to believe his handpicked Fed share overseas a rate hike right before the midterms? Maybe the obvious trade isn't so obvious, guys. Either way, we gigend. Either way, I think I'm position forward. I'm comfy in spot. Either way, we gigend. You know what we're holding. You know what we think is going to outperform. We've been we we've been dialed on this market the last four months. Super dialed.

Either way, we get a scent. Let's flick over this zero hedge post. Fed hate Fed rate hikes will increase the US interest cost by $50 billion. 50 billion. Dude, do you really think that's that's what they want to do? Do you really think that, dude? They're at $40 trillion of annual or of a of uh debt. 40 trillion. You think they're going to just purposefully add more? I mean, maybe maybe they do just to save face.

Save face. Credibility. I get it. And Robbie has a lot of takes on this. You know, he's kind of like the macro the like the brain of the show. Fortunately, he's not here today. But guys, if you get back to the g to the gigasense tweet, three of the four options means that we're ripping. Three of the four options. Three of the four options. We're ripping. One, we puke, we base out, we go. If it passes and the Fed holds rate holds rates steady, I think we have face rippers. Like, I'm talking Ethereum is going to rip your face off. like nobody owns Ethereum. If [snorts] clarity

doesn't pass and the Fed's the Fed holds rate steady does not matter. Clarity not passing is priced in gigascent. If clarity passes, which is completely not priced in, and the Fed hikes, which I think is the trump card. I think the Fed is the trump card here. Like the Fed is dictating what's going to happen to the market in my opinion. We pause for a little bit and then we just fly. If we get no go on clarity and we hike, well, brace yourself a little bit. Like, just a little bit. I don't think it's gonna be that bad. Just brace yourself.

Don't be crazy on leverage here. Don't be like chasing everything. Just Just chill. Just chill. Comfy and spot. Comfy and spot. Comfy and spot. Yeah, I think that's I think that's it. I think that's it. All right, guys. We've got Orrist of 1 in the CLLO. He's going to talk to us about DeFi's carveout in the Clarity Act, what's coming in Clarity, his takes on the latest uh rhetoric here from DC, and more. Be right back with OrS. Give us about 30 seconds.

[music] >> [music] [music] [music] >> We get deep. We get deep. We know. We get deep.

We get deep. We get deep. We know. We get deep. Knock. We get deep. Knock. We get deep. We know. We get deep. >> [music] >> You know, we get deep. We get deep. You [music] know, we get deep. We get we get deep. We get deep. We get [music] we get deep, you know. We get deep.

[music] [music] We get [music] we get deep. We get deep, you know. We get deep. [music] We get deep. We get deep. You know we getting deep. [music] [music] [music]

[music] >> All righty, man. Orus, welcome to the show. Good to have you. Um, what a 24 hours. Wow. Uh this was crazy. Yeah, I think many people has, you know, have sleepless nights. Uh especially enough of lately. So it is. Yeah. Nice. Nice seeing you again. >> Yeah, man. I mean, so what? Let me just recap it real quick. We get the post last night from a you know, some ex account saying that Trump has kind of walked back some of the ethics and, you know, pro like ethics uh issue provisions, changing some of that. um basically to make the likelihood of the clarity act you know significantly higher uh here we are today now we're

getting push back from Warren push back from the Indian country man what's happening can you just give us the rundown maybe of what this provision was that Trump and the uh Republicans put together um and whether or not you think it is enough >> uh definitely you know uh first of all quick intro you know so we start I'm the co at 1 in you know so we are the aggregate At Defi we are actively working on also policym uh you know angle for clarity and else so um to your question uh you know like what happens uh overnight and uh what was happening uh last day is actually you know like this weekend we

have I think four big things that actually added to the final draft of the clarity. uh the one you mentioned uh is kind of political one you know so it says and I think it this is the consensus between Democrats and Republicans because it says that you know like the president the visa president the member of congresses you know their partners exposes you know they cannot launch and promote crypto token and must sell any serious stake you know in a crypto business or put it in a blind trust and fines are doubled for that uh I think and now is this restriction is permanent. It does not have an expiry date, you [snorts] know.

So, I think this is what Democrats they asked for and uh my speculation this is what actually, you know, like the president agreed to. Yep. >> Okay. And so, do you so so let's be clear here. So, there's the ethics provision of taking all the earnings and whatnot from trust or from Trump and putting them into a blind trust. But then there was a couple other little nuances there around exactly what's happening. Do you could you please kind of educate us on those? >> Exact for sure. Definitely. I think the other points they definitely more uh like massive like for generally for DeFi in a good way actually you know because uh like there is also three major points

you know that they uh addit you know like the final drafting for like the first one is on the people who actually writes the code you know. So what it says it says that if you are the builder like let's say you like the one in you know like or unis swap you're building a software or the protocols you know like for defy if you build a software but uh this software never holds any money you know cannot change and the rules of the system uh the bills now says clearly that you're not the bank you're not the money transfer company you're not the financial institution of any kind so no paperwork needed you know No, no license is needed. So, the protection gets stronger this weekend for developers,

which is great. We'll see. We know how it goes. But this one is great. Yeah. >> Well, so I actually heard the opposite in the sense that the developers had quite a few protections prior to this revision, but in this revision, it seemed a bit harsher on developers. Is that wrong? >> So, this is the next one. >> Okay. >> This is possibly a bit harsher for developers. So but but at least you know they have now clearly stating the fact that if you're developing something which is not custodial it doesn't have access to funds you know you don't need to have any financial licensing and in that sense you know you have a protection but there are actually more rules for marketplaces and middleman's so what does it mean like marketplace in

a sense of exchanges and the middleman's in in in a sense of brokers and and I think this is this is actually an add-on that's still you of at least to me uh you know like it not brings a lot of clarity for example regarding my work at at at 1 in it's can be a bit concerning because what does it say actually it it gives protections but now it creates more unclarity for defies at least for me so what does it mean uh it means that uh you know um uh uh the so now what it says is that [snorts] ner na marketplace means an exchange or like a broker which is a middleman cannot trade against their own customers

anymore. So think of FTX you know if it says that the exchange they had the the the FTX that this is the exchange and they had their own trading company called Alamita right so that Alama like it was trading on the same platform with a special privileges and eventually with like customer money you know so this setup is says that now it's banned you cannot do that anymore which is great right so we don't want the second FTXis happening so same for market makers ers or brokers that sees your uh order and uh and that sees your order that you buys first and then sells to you the worst price. They cannot do that anymore. And uh you know uh every

[clears throat] platform must give you the fair objective and pricing. But what where does it get tricker you know like for uh uh for for the defi is that what does control means now you know like what uh what does it mean in the end for defy for example if you are the interface that runs the interaction on top of the infrastructure of the protocol and you have some risk management you know of blocking whatever allegedly bad actors using your protocol does it qualify you know of a a marketplace or a broker in the end and whether like those rules applies to you in that. So how I still see that is you know in DeFi there is no desk in the middle. So you trade from your own

wallet and the price comes from the open codes anyone can check. So and aggregators they ex exist exactly for that to find to find you the best available you know price across uh every venue. So um to me the congress is really pushing centralized platforms towards how defy already works you know. So if you are the centralized platform but using the defy uh rails >> you need to have some rules you know but you can use uh D5 infra and this is actually why you know I also sees like projects like 1 in or hyper native you know as infrastructures uh in the space if makes sense.

>> Yeah. >> Yeah. I mean nobody wants uh nobody wants uh Arthur Hayes BitMEX 2017 man. Look, I got liquidated on BitMX 2017 and I still to this day when I talk to Arthur on podcast, I'm like, "Dude, you knew my liquidation level. Like, you knew exactly where my level was, man. And you took me straight out back." Like, you know what I mean? And so, nobody wants that. That doesn't exist in traditional finance. I mean obviously it's kind of closed black box in a sense and you know people trade on information that is that they're privy to but this whole concept of like open order flow and then trading against your customers is just like I mean that's that's just that's like baseline cannot happen you

know what I mean so that sounds great the developer provisioning though with regards to the types of software and the I you know what it really sounds like it comes down into is the immutability of the software. Like if you're building truly immutable code, you know, it sounds like that's okay. But it sounds like there's some more risks here for developing software on chain, which is a bit of a bummer. I suppose if that's what it takes to get this through, then that's what it takes. But yeah, the whole open- source code is law concept feels like if clarity goes through kind of takes a hit here. What do you think?

Uh it does kind of I I feel so because you know like my point is that you can you can take it differently you know like how it's written right now but if you can take it differently then it means it's probably not the best you know in that for like for like the business that innovates you know like creator in this so yeah I mean uh and listen it it just um they have that the clarity act itself you know like it has so many markets inside it has you know like it has that two conditions it has a secondary market. It has defy. it has like those uh different stuff that uh I'm not really sure like this is the you know like an easy lift like for the congress uh tomorrow and maybe we will

just end up having uh different small smaller bills like uh genius acts you know like that are more straightforward more lean uh more clear because uh things needs to be developed uh things needs to uh you know like have more clarities uh on things um you know we read and and also SEC and CFTS has to be honest like they do seems to do a great job you know like on those innovative exemptions for like tokenized assets uh they have like this ally right now between SEC and CFTC you know as a joint group working on different initiatives.

I think that the clarity act even if passing it will just give sec and safety some uh power you know like to create uh rules that hopefully to me at least you know I'm trying to always be positive and optimistic will create uh clarity you know and better space for all of us yeah define >> listen and I just want to you know add one like even if you end up you know like last minutes you know with some you know financial intermediary provisioning that will make us to do like KYC see you know like more complicated IML uh I mean let it be let it be you know so in the end you will end up either being the infra or being the some some supervised authority or work with those you know so

>> yeah man >> so look so on this note right because I think what we're getting to is like is poly market telling the truth like I know we're going to kind of like like the nuances here but we we went from 15% to 30% now so we're clearly making some progress or at least the gamblers think so. So, I went on this whole tirade, right? Clarity Act's not coming. It's highly unlikely. Insiders in DC are telling me it's unlikely. It's been dead since July. But be prepared for the innovation exemptions. Be prepared for tokenization innovation exemption.

I get this screenshot sent to me from a friend who's talking to a DC insider today and verbatim it says Andy has been listening to the doomer contingent on clarity. Most everyone on the hill is pretty optimistic for the motion to proceed to pass tomorrow. That's still not a final passage. It needs 60 votes and if it gets that 60 that means that final passage is a lot easier. And then my friend goes, "Oh, really? So it's way higher than 30%." He goes, "I would say yes." significantly higher. I just can't see how the motion to proceed doesn't pass tomorrow. I mean, if Dems can't get behind this language and the GOP holdouts keep their heels dug in after this, then there really never was any

hope and this whole thing has just been a year-long sigh up, which I refuse to believe is the case. What's your take, Orest? >> Oh, it's a very good point. So first of all, you know, just to add on the poly market, I think on Cali, I was checking before the podcast is like 64%. Right now >> for 26. >> So exactly. Oh, sorry. No, no, before before October, 127. There you go. You're right. You're right. You're right. Yeah. But you know, taking on the last one is actually, you know, like you nailed that, you know, like what I'm what I was what I know, you know, is that you know, like you need 60 out of 100 senators, like Republicans have 53, you know, so uh so at least seven Democrats needs to say yes. And that's why probably you know like we have like

this consensus on ethics you know and this political part of the stuff. So if 60 say yes the debate is open you know so senators can still change the things there is uh and there is a final vote. So then the house has to agree to the same text then the president signs then it goes for months but it's still a significant work ahead of us. Yeah. So what what tomorrow means and what it tells uh to us is is there is real majority for this yes or no in principle to work on that's why I agree you know that they need to work yes because it just open up you know like the the the path you know like all the work ahead of this that needs to be worked out as we

discussed with you you know like maybe clarity is not the one but maybe it needs to be split into a couple of but this actually needs something that needs to be worked out as well you know yeah >> so I just got new word and I appreciate that insight because I think I tend to agree is I got a new word from Eleanor Tourett. Eight banking trade groups say that deposit flight quote unquote circuit breaker added to the new Clarity Act is not a safeguard at all, arguing it would only kick in after substantial deposit flight had already occurred. In a letter it excuse me in a letter to Senate leaders the group's call for further tightening of the stable coin rewards language to close what they describe as loopholes that could still

allow interestlike payments on stable coin balances. Their core ask remains essentially unchanged. >> What's your take? So I can uh I'm also following you know because we because we're also in all those uh policymaking groups. I think that there was actually a a a news I found uh on the on the feed which says that some banking trading groups they are like they they their feedback comments were not really included and yeah actually there was one or four uh uh things that were added to the clarity act that they haven't mentioned yet is uh on the stable coins we see financial institutions. So what

it says is it says that you know and it's in the bill already already it says that if you know there is some crypto platforms or small banks that pay you interest for holding stable coins often they pay more than banks right so if those and this financial discretion they fear that people would probably move their savings out that's why they also pay more interest so now they have a provision which says that US treasury can um can control that in the sense that they can evaluate around 18 months you know for there are those small banks or financial institutions they actually losing on deposit because of this you know promise whatever payoff and it can ban uh the pay the payout of those interests so in that way they're

protecting like the people and they protecting the small banks or financial institutions from real harm being done and um and it's in there so I mean this is this should help you know like this is probably a consensus for to control the market in a sense you know like from Yeah, not experienced risk control measures uh in with those businesses. >> And Orus, what is your take then on Elizabeth Warren's claim about Trump and his dealings not being enforcable by law by the DOJ? And then what is Yeah, let's start there. What's your take? Does does Warren's claim have credence? To me, she's a witch, but she must be she must know something, right? Like Like I I

just think she's anti- crypto. I think she's the worst of the worst. and I, you know, she needs to get out of there, but obviously she's pushing back on something that maybe had some legal language that needed to be adjusted. What's your take there? >> Uh, to be honest, like I'm not really familiar on some on anything specific that would like, you know, imply on that but >> maybe I can just read it to you. >> Yeah. Yeah, sure. It's um basically um they're circulating points against the latest uh uh crypto ethics uh provisions basically saying that the state attorney general powers are a mirage in that only the DOJ can bring enforcement actions against you know politicians or executives who do malpractice with

crypto and no action may be brought in quotes if the White House ethics official officials clear the crypto activity. So basically seems like it's like if the White House officials approve the crypto activity of a future president then the state attorney general where this case would be um >> uh arbitrated would have no power. I I got it now. But actually this is not I mean you're probably right on on the which you know like qualif qualifications as as this is actually not something I've read you know. Of course I wasn't sorry I wasn't reading line by line you know if I'm analyzing the [cheering] [laughter] >> all my homies hate Elizabeth Warren.

>> Exactly. Yeah. Exactly. because you know like uh from what I got you know briefing from the groups you're working on on that is that actually state attorney attorney general can prosecute president Mr. president, member of Congress and you know of anything related partners as well. So it's actually not how it goes you know I don't think it's true to be honest but again like you know like um I I wasn't analyzing that heavily. It's actually I know an opposite as a fact. Yep. >> Yep. Yep. Okay. Um, other thing so we got this push back here from the Indian Gaming Association chair David Zbean who says in his statement this morning essentially what he's saying is that

prediction markets are stepping on the toes of casinos in America and that he would like to make it absolutely clear that the Indian country is opposed to this new version of the Clarity Act. Uh because this expansion comes at a time when the CFTC is blatantly violating tribal and state laws in its own regulations and the clear intent of Congress by allowing gaming to occur on platforms such as Koshi and Poly Market until Texas added to express expressly provide that state tribal gaming laws and the Indian Gaming Regulatory Act are not preempted by federal commodities law and that DCM are not permitted to list contracts. on sports betting or casino

games. The Indian County will continue to urge members to vote against the Clarity Act as it is a greatest threat to tribal sovereignty in a generation. You've got the tribal sovereignty at question due to degenerate zoomers gambling on poly market and couch. What's your take? >> Yeah, I mean again like my take here is that clarity is not creating you know like the rails regulatory rails for poly marketing and couch. It's really about you know like giving a basics you know of understandings and you know of rails for the defi in general you know so gaming and gambling it will be even if you know the core principles of polar market culture will be kind of described

in the clarity act you know you you have gambling on top you know like you have uh local laws state laws on top probably some federal laws you know like sorry I'm not that you know like big [clears throat] of US attorney right now but the point is that I don't see that you know like it might give you know some uh some some push you know like to for those platforms to create to have better laws in the end but it's not regulating them at all you know from from my rate so I don't see here a concern >> yeah okay what would you what are your what's your chances at this point what's your what's your uh like what do you think do you think we pass or not >> I I I I do I do hope and I do think that

uh it should be voted as yes, you know, tomorrow just you know like for for the build to be uh to go to the next stage >> uh and then we'll see and then I don't know yeah exactly this is what we need and then it it could take time you know like for us to have a proper you know like next thing because you know this this bills it answers it asks one question generally who holds your money >> right >> so it means like if a company holds your money you know as an exchange or broker It gets a bank style rules. It's fire, right? So if someone just writes a software and never touches your money, this is should be a developer not a bank. But also there is a question who controls the interface you know like and

what interface does in the end and there are a lot of things interface interface is doing. So in the end it can be regulated as well. So um it's a lot of rules and we will see what would happen. Uh I I hope that it will be yes and uh but clarity is a lot of things and I really hope that SEC and CFTC is uh a backup you know in case something would go wrong in the end we will have we'll have clarific clarity we'll have rails we you know we will grow uh in a better financial system >> yep I love it or man best of luck I know you're slammed next 24 hours are going to be crucial so appreciate you spending some time with and uh

>> course >> appreciate all the work on the bill. I know that you know 18 months of human resources, capital flights, money, conversations emails calls signal texts. I mean, it's just been all culminating into this. So, here we are, man. We're at the We're at the uh we're in American football, they call it the one yard line. We're at the one yard line. >> Yeah. Let's let's rock it. Yeah. Thanks. It was a pleasure. Have a good day. All right. Or cheers, man. Wow, guys. I'm bullish, guys. I'm bullish. I'm bullish. That was great.

That was so good. That was so good. That's what we needed. That's what we needed. Again, though, like no, like nobody knows, you know? Nobody really knows. That's the craziest thing about what's happening right now is like like I have a take, you have a take, he's got a take, she's got a take. Nobody knows. Nobody knows anything. The prediction markets I think are decent. Like I think they're decent in, you know, helping us understand what's actually happening, but nobody really knows. Nobody really knows. It's kind of funny when you think about it like that. It's like we've got so much on the line. I mean, look at the market right now, guys. I mean, it's it's flying. Near's up 13%.

ETH's chilling back above its range highs. Bitcoin's just tad under 79. Hype's back above 81. Zcash up 9% today. I mean I mean we're ripping. I mean we're doing we're looking great. It's just, you know, we need clarity. We need the Fed to chill. We just need some sort of combination in the next 24 hours that aligns with our three4s lead us to a g to a g giga send target. All right.

All right, what do we got in the chat? One yard line energy. Great analogy. Let's go. Hey Sandra, happy birthday. Happy birthday, Sandra. Eth chilling down, I guess. GM Tula GM GM GM. Um, W Daily Finance Grahams your mom. Okay, Salana is I don't know this fake Salana account in the chat. That's weird. Just block them. Uh, byale, Satoshi, most needed daily finance. Good to see everybody. All right, guys. Let's keep it up. We got more. We got Ryan from Plume. We got uh more coming. Give me 20 seconds. We'll be up with Ryan. See you guys in a sec.

[music] [music] [music] >> [music] >> We get we get know we get we get deep we get deep know we get

We get deep. We get deep. You know, we get deep. [music] You know, we get deep. We get deep. You know, we get deep. We get we get deep. We get deep. We get we get deep. >> [music] >> You know we get [music] [music]

know we get deep. [music] We get deep. We get deep. You know we get deep. We get deep. [music] All right, Ryan, welcome to the show. Uh, good to have you. I think you're literally in the office, so good to see you. Um, and what a 24 hours, huh? >> Yeah. Yeah, seriously. Uh, yeah. I'm tuning in just maybe 10 feet behind you, but uh, good to be on the show again. >> Yeah, man. I mean, so we get this news yesterday from the some I mean, this it's so funny how news emanates in crypto now. Like the account is literally called Tardfi, I'm pretty sure. And like everyone's just like,

"Oh, the source is AP. It's Tardfi. Let's rip it. 1 million views on like a Pepe meme." And it's all just headlines now. Anyhow, it comes out and it's um you know, it's Trump backing off. It's you know, him being a little bit more friendly with the ethics stuff for clarity. And you know, here we are. I mean, look, my perspective is regardless of what happens, it's clear that the SEC is going to be moving on exemptions specifically for tokenization, but ideally we get clarity through, you know, I'm just curious, you know, from the more like builder, you know, company perspective, building in the space, you know, just watching all this unfold.

Where's your head at? >> Yeah, I mean, look, the markets are clearly loving it. Uh I know there's a lot of lot of uh talk last week, a lot of doom and gloom and uh that that's that's changed quite a bit uh in the last 24 hours. I think from the builder perspective, without getting into the nuances of kind of the the patchwork regulation, that's gotten us to where we are today and what clarity means. I think broadly speaking, if you believe in one thing and and one thing only, which is this clarity will increase stable coin adoption, that can only be good for builders. Uh especially in the RWA space. uh stable coin market caps have been, you know, flat for a little bit now and and this could provide the stimulus that that we all need for stable coin adoption to go up. Uh and

and I can get into, you know, what what that all means for RWAs as a whole, uh or as a sector, but I think that's that's something, you know, everyone tuning in here probably, you know, wants to believe or or should want to believe uh to be true coming out of this. >> Yeah. Yeah, I mean it feels like just like the, you know, the sheer amount of blockers that this industry has had to push through seem to be kind of coming to be more of tailwinds rather than headwinds, right? I mean, we're kind of past the era of worrying about getting sued. You know, we're past the era of, you know, is tokenization going to grow? Is stable coins going to work? Like, this is all going to work. But the enablement from the SEC and from the CFTC and from the house and from the congress and from

the president on clarity is like the biggest green light like I'm you know thinking about like the floodgates opening in a way right for for tokenized assets for stablecoin growth for all of this um you know let's just run through some hypotheticals here if clarity passes what immediately do you think changes in the tokenization landscape in the in the like in the work that you guys are doing at Plume just generally whether it be with your you your uh colleagues, your competitors, your partners. How do you think the whole like what's the vibe shift like postclarity, let's say it passes? What's the vibe shift for tokenized assets and for tokenization?

>> Yeah, I I think uh I think it'll be a big one and and all all for the positive. You know, we're we're in the business of connecting assets with distribution. And so we we always look at it both ways. I think on the asset issuer side, it's going to give a lot of blue chip asset issuers a lot more comfort in bringing their tokenized assets on chain. uh it's going to it's going to decrease the the speed to market quite a bit. uh you know we've spoken to a lot of asset issuers you know some with multi-t trillion dollars of AUM and you know a lot of them believe that every single one of their mutual funds or exchange traded funds should have a tokenized share class uh and at some point you know somewhere down the line but none of that can happen without uh without something like

clarity on on the distribution side it really comes down to you know capital allocation so whether you're you're a pension fund private equity fund family office someone with capital to allocate you could be a bank with with customer deposits uh that's still capital to allocate, but ultimately once you get to a certain size, you're not, you know, you're not playing around with a couple million dollars anymore. Not that that's not a lot of money, but you you get to a certain point where, you know, the big players in the space, especially the Trady Capital allocators, they're just not going to be willing to go above a certain size without uh more more legal clarity. No, no pun intended.

>> Yeah, I mean, I totally agree. I mean, I think, you know, like I said, even if we don't pass right on the other side of the hypothetical, from what we've heard, the SEC is ready to move imminently on tokenization exemptions. So, you know, in the world that clarity doesn't get through, there's so much hocus pocus. I mean, I mean, it's just I mean, it's like I'm hammering it today because it's fun. It's the topical thing, but like I'm ready for it to be over. I mean, I just like, okay, I've heard enough about clarity the last two years. Like, I'm ready for it to just be done. um >> uneducated takes out there on Twitter >> 100%. And so and I'm probably not off that list, but is what it is. And so, you know, when it when you think about the SEC being ready to move, right? Like

they're ready to go. I mean, from what I understand, these tokenization exemptions are coming. Whether we get clarity or not, it would be a cherry on top. If we do get clarity and we get the exemptions, um you know, are you are you guys talking to asset managers and you know, you know, folks? You mentioned the size, but what about just wanting to get in at all? Like is there still that kind of hesitation? Um just curious like what you're seeing out there as far as the appetite and if you think something like a tokenization exemption would really open the floodgates for tokenized assets like what would that actually look like?

>> Yeah, I I think uh I think the appetite is certainly there. You know, probably seven out of 10 or eight out of 10, you know, of each of the major issuers are all doing something. They've established a digital assets team. you know, they have a lot of really smart people work working on these products uh trying to solve these problems. I I think what clarity can do or you know, with or without clarity, but even getting some of these exemptions can do is to uh just kind of speed up the time to market. It it's uh you know, a lot of these things move slowly. Uh if you're a large financial institution, there's going to be a lot of red tape uh as there should be and and you couple that with the lack of regulatory clarity. Things things move really really slowly. And so what

what I think we'll see is not necessarily new entrance to the space. If you're someone who who already works in digital assets and you're talking to these teams, uh most of these names should be familiar, but for the public, you may not know what they're working on. And so I I think you may see a lot of these uh large financial institutions uh whose names may surprise you, you know, come out with products uh in the near future. >> Yeah. Yeah. And then what about just like your view on, you know, the the rate of change, right? Because there's kind of like, you know, if you studied physics and math, there's like the first derivative and the second derivative and the third, right? And it's usually like velocity and then acceleration, right?

And so like we're look we're thinking about the acceleration here, right? As like the key the key focal point. We look at when the Genius Act passed and if you like time stamp it based on the total growth of RWA on chain. I mean it went from like I think it was it was a little bit less than like 10 bill maybe and maybe I'm getting that wrong but it's all the way up to 35 billion now. And it's I mean it's not really been that long. So like when you think about this acceleration $ 35 billion right now of RWA on chain total stable coin market cap call it 375 or 350 billion I don't know somewhere in that range um maybe a little less um what is that like are we are we in trillions by 2028 like where are we at

yeah >> gonna sit here and make my make make my bet or call my shot here now, but I think certainly trillions is uh is is in the future. I don't know how how how quickly that's going to happen, but you know, you mentioned two different numbers. One is kind of the the market cap of all the RWA on chain. Uh and the second is the market cap of of stable coins. And so I I think the former is a function of the latter. And so all of us should be, you know, all of us in RWA and digital assets, we should be watching very closely uh the stable coin market cap. uh because as that grows uh you have to also believe that you know all of these stable coins are going to need a source for onchain yield right you people can't go go holding a trillion dollars of of

USDC not earning yield and just sitting idle uh they also can't have all of it sitting in in DeFi protocols uh you know looking looking for traditional onchain yield and so there is going to be a an increasingly large contingent of stablecoin market cap or uh stable coin holders who are looking for RWA yield and so it's it's kind of rising, you know, rising tides, lift all ships kind of situation, but you know, all of it is a function of stable coin market cap going up. >> Yeah, man. And so I'm curious about the latest happenings, you know, based on that view of just growing stable coins, growing tokeniz tokenized assets, these kind of being like yin and yang like I sees saw here, you know, one booms and kind of other booms. Man, how about this Robin Hood stock token boom? like what

is even happening over there? We're pairing stocks with memes. Obviously, Vlad didn't wait for any sort of regulation, you know, he's just like we're going to launch these stock tokens. Um Robin Hood is a distribution channel. Um you know, like I is like what is like like when you see this happening, is this like validation for Plume? Is it competition for Plume? Is it like does it inspire you to like work harder? Does it make you think that well maybe the uh you know issuer sponsored version versus the rap version versus the debt equity version doesn't really matter as much. What matters is just getting it out there. Like when you see this

happening in the lens of this kind of clarity and SEC exemptions conversation, what is your initial kind of thoughts? Yeah, I think uh all of the above to to answer specifically on on the the success that Hood Chain has had, I think it's both motivation uh as well as validation of of everything we're doing here at Plume. Uh Robin Hood just given, you know, the nature of them, you know, their their core business being being a web 2 exchange, uh they're mostly focused on equities, which has been a a segment of digital assets or RWAs that Plume hasn't hasn't really, you know, spent a lot of time on. I think we've carved out a segment for ourselves in the earn category uh which which is kind of like you know yield fixed income structured income those types of

products anything that that gives you some kind of income each month as opposed to buying spot equity you know we we are we do have a lot of things in the works that that are in and around or related to hood chain and equities nothing I can discuss now but I think uh it's it's still validation for us to see uh the broader parts of the market that even that even even those that we're not super active in uh continue to grow. >> Yeah. Yeah. Yeah. Yeah. So maybe just tell us a bit about what what you guys are doing like when it comes to you know uh some of the tokenization work that you guys are doing with the vaults you know this this this whole vault complex right if you look at the block works data dashboard right now I think it's at

like $7 billion total right now um and you can kind of see the different curators um and you can kind of see just like where the assets are being held. I think this is a big sleeper. Like I think that this is something that if we do get clarity, if we get tokenization exemptions, this vault category is gonna explode. Like like the left curve narrative is so simple. It's like vaults are going to do what ETFs did to mutual funds. Like vaults are going to do to ETFs what ETFs did to mutual funds. Like it's like okay cool. So got it. Like great, awesome. And then like the right curve is like pair any asset with any other asset. Basket of different asset types from different sectors, different yields, gigabrain curators, operating onchain 247, active ETFs but better.

It's like this whole like rabbit hole just so what do you think the ramifications are on regulatory tailwinds for the vault complex and how do you guys think about that? >> Yeah, it's all it's all related and intertwined, right? the more the more uh the more regulatory clarity we have, the more guidance we have, the more uh stable coin adoption is going to grow and and some of that is uh is is going to flow into vaults. It's going to flow into these these yield bearing instruments. Uh and that that's where Plume has been playing, right? I think you you look at the average uh user on Robin Hood, for example, there's going to be the guys who are trading uh AMC options. You're going to have the have

the people who are buying Nvidia. You're going to have you're going to have the the you know gigab brain semiconductor investors who've been buying TSMC Lamb Research you know applied materials for the last you know five plus years but you're also going to have the buy and hold investor right you're going to have the people who are buying dividend bearing ETFs uh the people who are who are looking for long-term uh returns and so that that's kind of who the vault uh and the yield segment is is geared towards and so everything we're working on today is kind of expanding our our product set to capture uh more of the user base on chain and I There's a lot of white space in our core se segment which which today is is is the yield bearing uh category but even even within that you have public equities that are

yield bearing like AAA CLOS's they pay you a dividend each month and then you have the private credit products of the world you have payment financing uh invoice factoring all the above and so kind of moving I think if there's one thing coming out of this it's that as the bull market uh you know starts to look like it's coming back or at least markets are getting uh more positive uh people's expectation for yield is also going going to go up. And so as much as we love the safe, you know, three and a half, four and a half, 5% yielding assets, if the markets really return in full force, people are going to want higher yielding assets, uh, and more more kind of, you know, DeFi composable features. And so that that's something we're focused, uh, focused on building for, uh, in in the event that markets do

fully turn around. >> Yeah, man. I mean, I think like, you know, having an opportunity to have crypto assets paired in a vault with equities, with commodities, with some AI stock, like I I could just see like a like a Elon Musk Satoshi vault, half SpaceX, half Bitcoin. It passive or it actively manages like the curators actively manage it based on just trying to keep like a 50-50 balance. So, just always always like rebalancing for you. Um, the Bitcoin is like Coinbase Bitcoin, so it's earning a little bit of yield through Morpho and the SpaceX is somehow collateralized somewhere and earning a little bit of yield as well.

So, you're holding two non-yielding assets, being able to lend them out a little bit. It's being autorebalanced for you. You're gigabullish Bitcoin and SpaceX for the long term. the SEC says this is totally fine to basket equities and Bitcoin together and this vault product becomes like your long-term holding. Like that is just like that sounds incredible. All onchain. You can access it from a phone from a a easy web app. Like it's just kind of like these like combinations that weren't possible um to take like different Yeah.

>> It's becoming more modular in a way. And so, uh, it it's exactly kind of what ETFs did to traditional finance, but, you know, these these vault products and a lot of the tooling that we're building out here at Plume, uh, with the Nest infrastructure, I think, is to move to a world where it's more modular. And so, whether you're talking to a large centralized exchange, talking to a large curator, you know, our job is to provide them with a a menu of assets, you know, whether they're yield bearing ETFs, uh, spot equities, spot commodities, uh, you know, private credit funds, etc. But, you know, give them an offering for them to curate and construct uh the these products and offerings on their own.

>> Yeah, I love it. I love it. Um, just catch us up, man, before you go. What's the latest with Plume? Uh, I think you guys had a factor launch. What are you guys doing in the tokenized uh asset world and what are you most excited about? >> Yeah. Yeah. Factor is a very interesting or sorry, very exciting development we've had in the last uh last week. I I think it just went went public last week, but it's our latest product. Uh, it's an invoice factoring product. And so what that means is we're we're going in and and bundling a bunch of tokenized invoice factoring facilities all uh all in all in a single token. So kind of similar how figure prime is is a tokenized book of uh helocks. Uh Henry is a tokenized book of you know reinsurance assets. Uh factor is a is a

tokenized book of invoice factoring and networking capital financing facilities. I think the the most interesting thing I'd call out here is you know we're working directly with a credit fund based here in New York City as well uh on sourcing originating and structuring these products and so instead of just like investing into their fund and tokenizing a share class uh like most RWAs are doing here there is no asset issuer in the middle uh the factor vault uh and plume you know we we are working directly with uh DOP or deep ocean our partner here to kind of pick and underwrite these uh these factoring facilities uh and put them into the factory product.

>> I love it. I love it, Ryan. Well, I'll see you in about 10 minutes out here. All right, take it easy. Thanks for coming on. Um, I love Thanks for uh letting the rollup crash the office. Very, very appreciative. I hope we bring some energy. I think I came in storming today when you guys were in a meeting. So, thanks for thanks for putting up with us. >> Absolutely. Thanks for having us. >> Thanks, Ryan. All righty, guys. Um, I mean, bullish. I mean, like, did you guys did you guys just hear what I heard? So, trillions of dollars of assets. Um, the if clarity or these tokenization exemptions come through, we're talking a tailwind on tokenization, not the

headwind that we've been dealing with this whole time. And the potential for vaults, for tokenized assets, for stable coins, for equities onchain is, I mean, I don't use this word lightly, practically infinite. Practically infinite. I mean, pers are doing less than 1% of global derivatives volume. Tokenized assets are 35 billion. That is like the size of a large pension fund. Like we are just like we're not even talking about numbers that matter yet.

We are like at the precipice the precipice of the floodgates opening for tokenized assets onchain and it's going to be the biggest windfall of wealth generation onchain protocol adoption and validation of what we're doing here. And I can't lie, a lot of it does rest on whether the Clarity Act passes. But Bitcoin's over 79. ETH's flying, Near flying, Zcash flying, pump flying, lighter flying, plume pumping, chain link ripping.

Are you guys kidding me? Load the gigascent. Load the gigasend hard. I was a sales director of a logistics company that would talk that would love to talk about the factoring. Yeah, man. That stuff's coming on chain, too. And that's the thing, Ranch. All these like little intricate things that like, bro, we don't even think about. Like, I was walking home the other day and I was thinking to myself, I was like, damn, the company that installed the box that is connected to my phone that allows you to scan in with a code and all this stuff. And like there's they're in the entire city. That is like a ninef figure business and it's literally just like an apartment door scanner. Like

think about all the little financial things that happen. Remittances, invoice factoring, buy now pay later, bonds, index funds, money markets, ETFs, like all of that onchain. Like all of it. And like we're not even like a tenth of a percent. less we're probably like less than 1% of a percent. So we're 1/100th of a single percent. So I don't even know what that math is. What one 10,000th of a percent in terms of the amount of assets on chain versus like what's possible. It's probably even more than that. Like we're just I mean we're just infinitely early here guys. If clarity comes tomorrow, we

will have the biggest pump you've ever seen in this industry. All the bears will be absolutely eviscerated. Eviscerated. I'm g take a little break. I'll be back in a couple seconds. See you guys in a sec. [music] [music] >> [music] >> We get we get

we get deep know we get deep know we get deep know we get [music] deep we get deep know we get deep we get we get We get deep. We get we get [music] we get deep, you know. We get deep.

[music] [music] [music] All righty, guys. As promised, we got a multiple things today coming. So, we got the giveaway. We have the launch of the special guest announcement and we're going to do some AI Doom and some other stuff. So, let's do the giveaway, guys. Let's give a round of applause to everybody who signed up to the rollup.

[screaming] Absolutely crushed it. Thank you guys for being a part of the show. Thank you guys so much. It's been [cheering] awesome. Um, the giveaway winners who has sent me their addresses on X, followed the rules. We've got uh Xandle Gadex 02000. Congrats Greer X02000. [cheering and screaming] Next one we've got the Xandle Chan Wise. Chan Wise. Congrats, man. We got Xandle [cheering] JB Node. Congrats JB Node. We got X handle Gambles_Z.

Congrats Gambles_Z. And we've got X.com Taylor SC [cheering] Jackson. Clip that. Those are the five winners for the giveaway. I'll send it into the team chat so you guys have it. That is the That That is the giveaway winners. Giveaway winners. Congratulations. $200 to every one of those five people for the thousand rollup.nneer.com giveaway. Congratulations to those five winners. Once again, congratulations.

[cheering] Wow, what a run. What a run. What a run this market's on. What a run this show is on. What a run for everything. For absolutely everything, guys. All right, guys. I'm gonna take a one last break and then I'm gonna reveal tonight's show guest live on the rollup. Don't go anywhere. [music] [music] [music]

>> [music] >> We get deep. We get deep. We know we get deep. We get deep. We get deep. We know. We get deep. We get deep. We get deep. We get deep. We get deep. Know [music]

we get deep. We get deep. Know we get deep. [music] We get we get deep. We get deep. We get we get deep, [music] you know. We get deep. [music] [music] We get deep. [music] We get deep. We get deep, you know. We get deep.

[music] We get deep. We get deep. You know, we get deep. [music] [music] >> [music] [music]

[music] >> We get deep. [music] We get deep. We know we get deep. [music] We get deep. We get deep. You know we get deep. You know [music] we get deep. We get deep. You know we get deep. You [music] know we get deep. We get deep know we get deep know we get deep we get deep [music] know we get deep we get we get deep we get deep >> yo yo yo what's going on guys [music]

this is yo yo yo yo yo you guys aren't ready you guys are ready you guys are ready yo can I get some guesses can I get some guesses in the chat please let me know who is the breaking who do you guys think the special guest announcement is. I'll give you a hint. There's going to be lovers. There's going to be haters. It's going to be controversial. I already know that. It's going to be controversial. It's going to be controversial. It's going to be controversial. It's going to be insane. It's going to be all time stream tonight, 600 p.m. Eastern. Are you ready? Guesses in the chat. Guesses in the chat. Guesses in the chat. Come on.

Come on. Come on. Come on. Come on. Come on. Come on. Guesses in the chat. Market's ripping. Market's ripping. Market is flying. Bitcoin 792, ETH 2540, hype pushing 82, Zcash back to,200, market's flying, guesses in the chat. Come on. Come on. Come on. Come on. Give you guys a minute. Who do you guys think that we pulled? Who do you guys think we pulled? Who do you guys think that we pulled? Come on. Come on. Who do you guys think we Who do you guys think we Who do you guys think we pulled? Come on. Come on. Come on. All right, let's hit it. Let's hit it. Breaking news. Breaking news.

You guessed it, Hunter Biden on the rollup tonight. 6 p p.m. Eastern. You heard it here first. The Hunter Biden interview live September 14th, 600 p.m. Eastern. Exclusive interview. Hunter Biden's first ever crypto podcast. He's coming on the roll up tonight, 6 PM Eastern. It is going to be unreal. Unreal. This is going to be insane. Robbie's flying up. He's going to be in the studio with me. This is going to be an insane conversation.

Look, I don't I don't know what happened with Laptop. I don't know the nooks and crannies of everything that went down. I truly don't know. I don't know. We're going to find out. We're going to find out the truth. We're going to hear Hunt's Hunter side. We're going to hear why he's doing this, what his interests are in crypto, clarity, regulatory, addiction art power corruption growth, markets, everything. Hunter Biden on the rollup live tonight, 600 p. p.m. Eastern. Guys, give that tweet some love. Give that tweet some love. Royal called it. Eigor, WTF, Danny Devito. Sam says Vlad totally Hunter Biden. Hunter Biden. Yeah. Hey, props to Royal. Props

to Royal for calling it. Royal called it. Hunter Biden on the show tonight. [cheering] They aren't ready. Bro has disappeared for ages now. Royal called it. Wow. You guys aren't ready. You guys are not ready. Also, Jay Adrix, by the way, you won the giveaway. I'll be in touch. Hunter Biden interview tonight on the roll up 6 p. p.m. Eastern. It's the nighttime show. It's the nighttime show. I guarantee this is going to be controversial. I guarantee this is going to be controversial. Oh [ __ ] I'm going to be there to clip some bangers.

Bangers will be had. You guys ready? You guys ready? Are you ready for Hunter Revited? I don't know if you are. I don't know if you're ready. I don't know. Are you? Tell me. Tell me if you're ready. Tell me if you're ready. Wow. This is gonna be a movie, guys. This is going to be an absolute movie. Let's get into the charts. I mean, things look really, really freaking good. Really freaking good. Let's get into it. Here we go. All right. Uh, [snorts] Zcash, um, 189

BTC looking fantastic. I mean, guys, I can't lie. At these lows here, it was looking a little sketchy. A little sketchy. Stop the presses. Stop the presses. Yo. Yo. Going to be unreal. We're going to have some fun, guys. We're going to have some fun. We're gonna have some fun. We're gonna have some fun. We're gonna have some fun. Wow. Hunter Biden.

Um, markets. I mean, ETH. I mean, guys, I mean, Red Line's a magnet. This thing's going to fly. I think we're in full gigascend mode. I mean, it's hard not to be. It looks incredible. Looks absolutely incredible. Uh oh, here we go. I told you guys it was going to be controversial. Why? I like you guys. This is dumb as [ __ ] Let the [ __ ] coin die. Okay, so hear me out. [snorts] I don't even know what to respond to this. I gotta be careful right now. I'm just gonna I'm just gonna let these go.

I just like look the answer to the qu like the answer to the tweet is um look I get it. He's controversial. He launched a shitcoin. I don't think he did it the right way. He he feels like he probably messed up. Whoever was market making or whoever launched it or whatever it was, right? Like all this confusion and garbage. I get it. It's definitely not like I get it. Okay, we don't we're not we were not complicit in this. We were not a part of this. We are just trying to get to the bottom of what the hell is happening here. Why crypto? Why now? What his take is. Honestly, I'm just curious about his his life. Like, we're going to talk about crypto for sure, but we're going to talk to him just about his life. And don't worry,

guys, we have two other insane guests this week. Insane ones. Insane. I'm just going to be like, I don't even have a response. I think I just said my response. That's the thing is like it's going to be super controversial. It's going to be very controversial. Very controversial. Very controversial. This guy keeps spamming. It's going to be very controversial. Let's pull back over into clarity.

Um, look, I'm not too worried about it, guys. Like, look, we we built a platform. The guy wants to come on. He wants to talk about his coin. He wants to talk about his life. He wants to talk about crypto. I'm going to hear him out. I'm not going to endorse his stuff. We don't, you know, us doing the show is not an endorsement of his coin. Not an endorsement of his behavior, about his past, just like it is just like any guest. You know, the guy I I I listened to like three hours of his podcast over the last like two days. He's trying to retell his story. He's He's a controversial figure is what it is. We're We're going to get haters for this one for sure. But the good thing about the rollup is that we are a high integrity brand.

The good thing about the rollup is that we have done everything by the book. We do everything by the book. We've never pumped and dumped. We don't scam. We've never chased quick money. We We've never done BS. We never we just don't do any of that stuff. We we we are a clean whistle as far as our behavior in the markets at the show with the business, our team, our clients, all this stuff. And so, look, I get it. The guy is not the cleanest of the whistles. But that's okay. He's going to admit that. He's going to admit on the show as he did in that video that it was [ __ ] up the way that that the launch happened. That's okay. That's okay.

Laptop bull sending feels unexpected and hilarious. So, it probably will happen. You know what? I honestly think there's a chance to, but I'm not going to obviously I'm not going to endorse it, promote it. I don't own the coin. Nobody owns the coin. Nobody Nobody's touched the damn thing. We're in a good spot, guys. I respect To's opinion, though. I think he's right. There's brand risk here, and we we took a calculated risk, and here we are. Uh, nothing really new from Eleanor. Um, just trying to just trying to get to the bottom of what's going on here.

Oh man, took's doubling down. Doubling down. All right, now I have to respond. That's all I got for now. I don't have

much else. I don't want to get into a Twitter war. Andy, how do you speak with for Rambo? What's up, man? Guys, market looks great. Market looks great. Looks really good. I'm feeling pretty positive about it all. So, yeah. Oh wow. Just got news that the White House Financial Services Committee is vote is voting to advance the strategic Bitcoin reserve bill this Wednesday. Interesting.

Interesting. And it's all coming together, guys. It's all coming together. Look, so before we un before we interview Hunter, um um Oh my gosh. Here we go, dude. He's tripling down. Tripping down. Crazy work. Um so before we even interview him, I mean, look, here's our reality, right? We are we've been the biggest stewards of pushing this legitimization of the space and we think that um this guy has a fair right to explain what the hell happened.

And the craziest part is that the next two guests that we're going to announce for this week, they're like the most they're like on the far other side. Let's just go solo. They're on the far other side of the spectrum than uh than Hunter. Like they're on the complete far other side in terms of like what they've done and all this other stuff. And so look, I don't look I mean there's going to be haters on this one. We knew this was coming. Um and I think Tolk is, you know, I respectfully dis disagree, but I think he has a point. Um and I think it's a valid point. And now he's blowing me up and saying this is gross. Come on. H not great. Not great.

But look, I mean, look, this is where we're at, man. I mean, like I said, we've done things the right way our whole entire career. Um, and there is a brand risk with doing big celebrity interviews, but I think Hunter deserves to tell his side of the story about what happened here. It obviously looks really bad and I we're not going to hold back. Like we're not going to, you know, we're not going to grill him. We're not going to like take him to town, but it's not like this is going to be like a piece of cake interview as far as like, you know, what happened? Like what happened? You know what I mean? And so, you know, I think

he deserves to be able to tell his story. And I I have a lot of questions about the laptop, about the token, about his whole journey, about his life, about all of it. Like I got a lot a lot of questions. A lot of questions. I have a lot of questions. But yeah, toes is like crusading us right right now pretty bad. Not great. Not great for the program. But look, I mean, look, I I I think if you watch the actual content, you'll understand where we're coming from.

Um, and we say no to a lot of interesting characters. Let's put it that way. Um, so I don't know. We're about as biased by buy the book as it gets. So, I'm not really worried. I just You guys will be able to listen to the interview. I think you guys will appreciate it because it's going to be real real talk. Real talk. It'll be real talk. So, that's where we're at. That's where we're at. Um, what a what what what a launch post, though. That one's gonna That one's going to have fun. This interview tonight's going to be a lot of fun.

A lot of fun. All right, I think we got to do our daily equity and then I think we're almost done here, guys. Um, been a hell of a show. I mean, thank you to everybody watch. If you guys are watching on YouTube or X, throw, smash the like, hit the subscribe button. Easiest way to support the channel. We'll have Hunter on later uh tonight. It's going to be unreal. Again, we're we're getting torched already by Tulks, but that's to be expected and unfortunate. The ramifications come with platforming someone like Hunter Biden. But I think I think there's education to get out of this. I think people want to hear a lot about his story about the token and yeah, we might get some haters from

this. We we never really like gotten haters before. Like I don't really know like we never really had haters. Like people probably just didn't take us seriously before. And I don't really need to get like all ego and all this like stuff about like oh we're doing this now and that because like we're just the same two guys. I mean we started this when we were like 20 years old you know we didn't have a clue of what we were doing. you know, so a little bit of polarization, you know, I I think it's healthy for the brand. Now, do I condone what's happened with Celebrity Coins? No. Do I condone and am I complicit in this launch? No. Was it Do I own any laptop token? No. Will I

own any laptop token? Unlikely. Do I think that they completely royally messed this launch up and it's obvious in the public perception? Yeah. I mean, yeah. Do I think that it's fair that Hunter Biden should be able to explain what happened? I mean, look, I I can't say I can't say it's going to sway the minds or hearts of anybody, but does it matter? Because if there's an educational opportunity here for other A-list names or if there's a way for us to be able to really get to the bottom of what happened, then I think it's very much valuable.

And I've got a lot of questions outside of crypto for Hunter as well. So, I'm looking forward to it. I'm looking forward to it. All right, guys. Um, daily equity. Let's get it. >> [music] >> All righty, guys. Daily Equity, who took stocks. Um, so this is a post from Vlad, the Robin Hood CEO. He arguing that public companies should not auto automatically have veto power over third parties tokenizing exposure to their

shares. Um, so if you scroll down through this, basically you can kind of get the vibe that basically he was kind of caught off guard as to how fast this thing grew. And um, he basically makes the claims that once shares are freely transferable, investors should generally be able to decide how they hold and use them just as markets already allow options, ADRs, and structured products. So if you kind of keep going down the consent question is issuers should be involved when tokenization uh issuers change shareholder rights the official ledger or company obligations but not just because a blockchain's being used.

Vladen is arguing right now against a whole swath of people that just because he's putting these things on the blockchain is causing all this massive market dislocation. We don't really agree with that take. Just because you put something on chain does not mean that it's gonna have this massive market dislocation. especially not in this early era of size that we're in. Robin Hood stock tokens are separate instruments backed one to one by underlying shares providing economic exposure without changing the issuers's cap table or shareholder rights and they are built to scale globally. So avoiding issuer by issuer approval allows Robin Hood to tokenize thousands of stocks and ETF across many jurisdictions without

requiring companies to rebuild their infrastructure. So if you keep going down, I think like what you kind of get to this in summation here from Vlad is basically that the argument is that tokenization should be a technology neutral. Companies control the rights attached to their shares but shouldn't control every lawful product investors build around them. LP pools AMMs lending onchain etc. This is the key. This is the key breakthrough for Robin's perspective.

And Vlad is out there doing the Lord's work for us, pushing forward this concept of tokenized equities to the global mainstream audience. And if you scroll down a bit, you can kind of get to the bottom here. Um, you know, keep keep going down to kind of like the very end and the conclusion. And basically, you kind of just get to this idea that just because you don't understand blockchain technology does not mean that you should be trying to make rules and prohibit investors from using this technology. And we firmly agree. We stand with Vlad. We stand with Vlad and his entire tokenization push that he's been doing. And we think that there's a massive, massive growth opportunity here. And that it's unparalleled compared to what we've seen so far. and

that a lot of Wall Street will fight it and they will fight it hard but they will not win. And that's our take. That's the daily equity that's powered by our friends at dinari. Vlad tenev stock tokens are exploding. Welcome to the new era of onchain finance. Guys, take a quick breather and we'll be right back here. It's been a hell of a show. I'll be right back. [music] Heat. Heat. [music] [music]

We get deep. We get deep. We know we get deep. We get deep. We get deep. We know. We get deep. We get deep know we get deep [music] know we get deep we get deep know we get deep [music] we get we get deep we get deep we get [music] we get deep know we get >> [music]

[music] >> You know we get deep. [music] We get deep. We get deep. You know we get deep. [music] We get deep. We get deep. You know we can beat [music] [music] >> [music]

[music] [music] >> Guys, what a show. Insane show. Insane day. The giga send is loading. Um, we're bullish. We're in the best coins. We think the market looks great. Um, and we've clearly got a very controversial interview uh that we need to prepare for tonight and we need to make sure that we do it right and we make sure that we hold the space in the right lens.

Obviously, we knew this was going to be like this and we took the calculated brand risk. Tolks is on an absolute uh rampage right now. Uh just kind of just torching us, which is fine. Um I get it. I get his perspective. I think it's valid. I'd be honestly happy to have him on after and just roast us if that's what he wants to do. Um, is what it is, you know. Um, but here we are and we got the 100 B interview in three hours and we're going to prepare for it and it's not, you know, it's not going to be a walk in the park for the guy. We're not going to grill his face off. We're going to stand by the industry. We're going to stand on business and kind of give our perspective. And um, yeah, that's where we're at. Guys, if

you enjoyed today's show, give us a like, give us a sub. W's in the chat. The market's ripping. Market's absolutely ripping right now. W's in the chat. View's in the chat. And it's going to be wild. I mean, I can't I can't lie. I can't lie. It's going to be wild. Uh, this is going to be nuts. This interview is going to be crazy. And yeah.

Yeah, it's going to be nuts. So, haters will be out. Uh, but I think if you watch the interview, I think you guys will you'll be pretty I think you guys will be pretty understanding of where of where our perspective lands. I think so. I think so. I'm excited. It's going to be an amazing amazing week. Huge day tomorrow. FOMC, guys. You know where we'll be. Bull or bear, green or red, up or down, same place, same time, live from the financial capital of the world. The tokenization tower. The roll up is live daily. If you guys are new to the channel, welcome. We have a lot a lot of growth ahead and a lot of

fun ahead. We we'll be live in just three hours with the Hunter Biden interview. It's going to be insane. See you guys then. Stay long, stay educated, stay smart, stay safe, stay bullish. The gigas send is loading. Much love. See you guys in just a couple hours with the man Hunter Biden. Peace. [music] [music] >> [music] [music]

>> Everything. [music] >> [music] [music] [music] [music]

[music] [music] [music] >> Heat. Hey, Heat. [music] [music] >> [music]

[music] [music]