Town Hall - 3-21-26

All right. How about now? There we go. Very good. Cool. Thank you. All right, misfits. Hopefully, uh, you're recording and we will go ahead and get it going here.

This person says I'm smile. Uh, all right. Uh, morning, morning, morning. Happy Saturday. Hopefully you guys weekend is off to a good start. You had a good week. Things are moving along over there with the Clarity Act and other things. And then I've got some other news that's maybe that's not, you know, we'll just have to see what actually ends up happening with the Clarity Act and the regulation. Um, tend to prefer from the horse's mouth versus what's out there on the internet. We'll give you guys a glimpse into that today. Um, so lots of things moving along. We normally start with the deals, then we're getting into the macro, then we'll run through the questions at the end. Got Legacy up here with me this morning. How are you, sir?

>> I'm doing good. How are you doing this morning?

>> I am blessed. Appreciate you taking the telling me out.

>> Yes, sir. Yeah, I was trying to help with the sound, but you got it set.

>> Yep. Should be good to go. I just, you know, if I do it on the computer, I can't hear you like we did a couple weekends ago. And so, I was like, I'll just move to the phone and we'll do it from there. And Misfits can be nice enough to record it, which he always is.

>> Yep, he's on it.

>> Yeah, on point. Um, all right. So, we'll just go and jump into the deals here. So, I just uploaded the stock transfer agreements that we have for RIP 16 to Syndicately, so you can go in there and check that out. We did have one seller back out uh with the tender offer uh for about $130,000 worth of shares. Um so average price on the shares that we currently have for that round I think is um we had we had a tunch at 130. We had a tunch at 140 and then we had a tunch that was a a later tunch at like closer to 150. So we should be average around 140 uh for a little over 140 for this last round of shares uh for Ripple 16. I don't know what I'm going to be able to get the last Tron chat at uh just with the tinder offer ongoing. Uh I put that out to my brokers uh and they've come back with a couple different preferred providers. Um they're looking to do you know something between 150 and 160. So we'll keep you guys up to date on the last trunch adapt but the majority of it is purchased and again those stock transfer agreements are in the portal there syndically for you guys to review. Um, and then once we have, you know, I'll probably go ahead and send out an email today to people to let them know uh just so that they have those three and let them know that we're waiting uh to the last 130. Uh I I wish we had more rights than the sellers in these agreements. The sellers actually have a lot more protections uh in the agreements than we do as the buyer. And so, uh, just unfortunately with that, they were able to back out. And I can go sue them, but I'm not going to sue somebody over 130 grand. Um, it's not worth the legal and the effort, all the other stuff, and that costs extra money from investors. It's not worth the the deal. So, anyway, what we're doing is we're just going to hold that, wait for the tender offer to be over, and then we will uh execute that. And it should, you know, I don't know what the share prices are going to trade at on the other side of the tender offer. They normally trade at about 70% of the tender offer. Yeah. So, Rock Court says sue for 130, cost 15. That's what I'm saying, man. So, we'll just hold it. Uh, and we'll go out to market and hopefully we can close one of these deals around the 150 160. Um, and that'll keep, you know, I think we were trying to shoot for around 150 uh on these shares. Um it's a small tunch out of you know 1.16 million uh that's the 130. So it's not going to bring up the share price a ton even if we do get these shares closer to 200 after the tender offer. Um so that's where that's at. Just want to keep you guys updated as things roll out there. Um, and then you know the other races that I think we still have ongoing, you got Avidane, uh, which you can go review, and then Mangrove. Mangrove was nice enough to help us sponsor the event there in Nashville. Hopefully those that participated there got to learn a little bit of more about what they're doing. Uh, got to hear Dr. Tim speak about um the AI and the algorithmic trading and a lot of the stuff that they're building, which was cool. Uh, so for those that don't know, I'll just kind of touch on these two real quick because you may have some interest. Um, Mangrove, uh, they're creating a kind of like a marketplace for people to be able to access different algorithmic trading strategies that most hedge funds would use. Um, it's a democratization of access to those types of deals. Um, Tilman Holloway, we just did a podcast with him, Arch Public, they're doing the same thing for crypto. Um, you can go to archpub.com and look at their strategies and implement that on whatever exchange you're participating on. Um, what that does is it programmatically buys and sells based on your tolerances uh for, you know, or whatever time frame you want to implement. I think you can try it out and like it's free if you only put 900 bucks in. Um and then if you you know do more than that then it will it it charges you a flat fee for whatever concier service they provide. So um good product. You know we've had a couple people ask about like a dollar cost averaging uh product uh for people that do want to deploy fresh cash into the market so that they can get the best price kind of like a T-W or VWOP for smaller amounts. Uh that's what Tilman's software would do if we wanted to roll that out for DWP uh in that way. So we might start looking at that. Um, it's hard to pick bottoms, you know, when when the markets uh at the low end if you don't know, you know, the full history of everything and you're not a quant. Um, so their average price in uh February was like $137 for XRP for people that were participating in that algorithmic trading. Um, and then we obviously have the IRA product with them where uh if you want to be able to generate additional cash and additional uh XRP inside of your uh IRA, uh we can apply that to your account. Uh that does start at the e at the beginning of each month to be able to opt into that. So if you do have an adviser over at EWP and you have an IRA over there or you want to move your IRA over there, go ahead and start that conversation. It does take a little bit to move from a Fidelity or a Schwab or an ITRUS or whatever else over to be able to access that product. Uh which is really cool for the tax advantages because normally you got to pay the taxes on the strategy that they run because it buys and sells all the time. Um you got to calculate all that up and it eats into your profits. But if it's inside of a tax deferred or taxfree account, then obviously that just continues to compound at a much faster rate than having to deal with the taxes in between. Now, um so that's that doc that kind of circles back to Dr. Tim. You know, again, uh go to mangrove.com, reach out to Dr. Tim, go check out the Mangrove channel, uh over there in the investments channel in Carbon One if you want to learn more about that. And then uh you've got Avidane, which is a graphine company. Um they have the patents on how to make large flake graphine. If you haven't ever heard of graphine, I'd go do some research. It's cool stuff. Uh it is one of it's the strongest material uh the lightest material, the most uh what is it? We can electricity conductive uh material that's out there. Um really cool tech. you [clears throat and snorts] know, they already have some significant traction for their uh IP. Brad Larson who runs that um is an IP attorney by trade and so he's basically patented this across the world and here domestically and they're licensing that to the incumbents that would have you know tried to put them out of business otherwise which I think was actually a really good play to be able to get this integrated versus trying to build his own company and go head-to-head uh with the other players out there that are already entrenched and have the money to lobby and basically put him out business. So, good stuff. Uh, I think that both of those are good opportunities. Um, we've got all kinds of things working on the back side. Um, Max and I had we've had some other deals come through. I just don't know if they're going to be if there's going to be enough interest uh in those deals for us to put them out with current other things that we have going on. So maybe holding off on that for a short period of time. Um, is there just out of curiosity, we've had a couple people bring up Uphold and some other ones uh with our partnership with Uphold. Uh, is there any interest that you guys have in other companies that are out there?

Um uh I I'll touch on this one because this is a relevant question. So, what's the difference between DAG with Uphold as opposed to DWP onboarding with Uphold? So, uh we are consolidating the full brand uh under DAG. It'll all just be Digital Ascension Group. The original tagline for Digital Ascension Group was your digital wealth partner. Uh and that's why we ended up naming the RAIA that um at the current state what we are doing with Uphold is we are white labeling their platform. So, what does this do? You'll have a DAG uh web app. Currently, it's just on the computer, but we're going to be putting out mobile apps uh for this also. Um where you'll be able to log in. You'll be able to, you know, set up your bank account for your LLC. You'll have all your documentation for your LLC there. Any trust documentation, corporate sale service, it'll all be rolled into one application, but you'll also have a banking a bank account with Uphold and crypto wallets with Uppold. Um, and it's not with Uphold, it's with us. Again, we're we're white labeling their software. They're just the back end on all of that. You'll also have access to their money market, uh, which is, uh, insured up to 2.5 million. So, if you have 2.5 million in cash, you can participate there. Uh, and that's liquid. You can move in and out of that at any time, which is pretty cool. It's kind It's almost like a tokenized money market, but it's not quite. Um, you can't spend the money out of the money market. You have to do you have to move it back to your bank account in order to be able to do that. Uh this also gives us access to an XRP card. Many people have been looking for that. You know, uh they're stopping their rewards on the 31st of this month. But we are looking to, you know, create a solution where you guys can get cash back in XRP uh for much longer than that if you're working with us. The other benefit on our platform versus theirs is the fees are going to be significantly reduced. We negotiated down fees for trading. So I I hear all the time that that's kind of people's friction with using uphold is the cost of the transactions there. We've negotiated that down. We're finalizing what those numbers are going to be. Um but much closer to like 1% versus uh the spread plus the fee that they currently charge. So a lot of things happening there. Excited for that partnership. Um, and the vision there is to have one unified application where you can just see all your business stuff. You have all of your crypto, your bank accounts. So, it's one easy dashboard for you to be able to run your financial life uh for your crypto. And eventually, uh, we will take the portal uh that we currently have for Anchorage and integrate that with this application. That's going to take somewhere between 3 and 6 months is what I've been told. So, it's not an overnight thing, right? Right now, there'll be two separate portals. So, if you want to manage all your LLC and all of that, you'll log in to the the web app that's the digital ascension group web app basically. Um, and then if you still want to see your portfolio over there with DWP, that'll stay separate for, you know, a short period of time as we make that transition. But eventually it will be all in one unified application. Uh, where, you know, ideally we got to build integrations on the back end. This also opens us up to the ability to um utilize fire blocks. Uh on the DWP side, we've kind of stayed away from that. We wanted the institutional custody there at Anchorage. That is obviously the the highest uh standard out there for custody, cold storage, and protection for your crypto. Um, but it also inhibits our ability to participate in DeFi and do some of the other stuff that we would like to get into eventually. Flare and many others are already interoperable with Fireblocks and there's a pretty big lift to get those uh DeFi protocols integrated into traditional custodians. So, looking to, you know, have that opportunity and the war chest, there are additional risks with that, right? And so until we feel very comfortable uh with the insurance and uh the smart contract risk and other things associated with it, it's likely we won't move forward. But we'll continue to do due diligence and try to work with them to be able to facilitate that so that those that want, you know, very low risk yield, we'll have an option for that uh there inside Anchorage. And then if you want to, you know, take a portion of your bag, whatever that might be, and kind of escalate up the risk curve, uh those will all be disclosed. You'll understand the risks associated with the DeFi and the other opportunities that we're putting out and then you and your adviser can make those decisions based on your risk tolerance um and what what makes the most sense.

Uh, Double D says, "Does that mean we don't really need our Uphold business account?" Sounds like DAG's interface is going to provide even more than what Uphold's business account provides. Institutional custody via Anchorage Connection. So, I just went over the institutional custody piece. We're working on that. Um, you know, it's not wrong to have your business account there. Uh, a lot of people have had frictions getting business accounts set up there at Uphold for whatever reason, either on the ascent side or the other. Uh, we're going just going to be another option for that. So, you're going to get all the same benefits that you would there uh just uh with the additional benefits that we're providing kind of a a mirroring of the best of both worlds. So, yes. Uh but at the same time, if if you wanted to use ours instead of that, uh that could make sense, too. Uphold really doesn't care. Obviously, you know, still making trades on their platform, still getting uh all those benefits and uh the assets are held there in Fireblocks, but um you're you're now going to have all the other stuff just kind of unified, so it's not spread out over a bunch of places. Um, Uphold's not available for Canadians. So, we we want to figure that out. There's a couple different jurisdictions that are that have some frictions with Uphold currently. New York being one of those, Canada, uh, and a few others. Um, it is going to require some legal stuff to be done in those jurisdictions. Uh for us to be able to facilitate that. Somebody has to be holding the licenses in order to be able to do it. Um but I will definitely be having conversations with them uh about you know opening this up to a broader variety of people so that they can use uh our application. Um and we'll do you know what we need to in order to be able to facilitate that and I'll keep you guys updated as we progress. It's it's not something that's immediate on a road map but it is on the road map. Um, what's the yield on the money market account? I believe it's four around 4%. Um so you know the whole benefit of what GG G Treasury is doing and the tokenization of this stuff is your money is not sitting idle for any any period of time. I don't know how it's super frustrating for me, you know, if I've got 20, 30, 50, however much money, you know, sat in a bank account, uh, and it's just sat there over the weekend or over holidays or whenever and it's not earning any interest. You want that liquidity. You want access to it, but at the same time, um, ideally, it would be working for you in some capacity. So, as everything becomes tokenized, you'll be able to move in out of tokenized money markets and other accounts real time. This is the first iteration of that with tokenized deposits there at um at Uphold. And so again, super excited to be able to bring that to you guys inside the app that we have. Uh, as far as do the bank accounts have any insurance at Uphold? Can individuals accounts with DWP participate in these products too? So it's going to take a little bit for us to get those integrations. As of as things sit today, I don't think there's a ton of insurance over there at Uphold on that application. What we can do to kind of bolster that is go out to our brokers, either Marsh or Woodra Sawyer, and see what they would underwrite those accounts at. Depending on that, we may have something where people can opt in for an additional insurance payment. Um, it and this is where like broad adoption really helps us. So again, none of this is possible without you guys. If you guys want to use it and we have tens of thousands of users on this platform or more than that, when we take that risk to the underwriters there, if it's just five people, it's going to be an ungodly amount for those five people. But if it's diversified across 10, 20, 50, 100,000 people, now that risk gets spread out and they're much more willing to underwrite that risk and the cost to each individual would be significantly lower, right? So, we're we're going to look at that. Uh, still something we're working through. Um, you guys know us, we we'll blaze the trail and then uh, you know, try to backfill and make sure that things are are kosher and again people participate or don't participate based on their risk tolerance and what they can afford and all those things. Those are all factors in your consideration whether you know you participate now or later after things are a bit more built out.

Um, if someone is already with DVP and things move to DAG uphold, will there be a reduction in AUMPS? So I don't I don't know yet. Uh if it's held at Anchorage, we have hard costs that we have to cover. And so um that's why we charge those fees over there. We may have I I'll tell you the long-term vision for this MDM uh or DM DND Bessemer Trust operates where they charge 50 bips on the AUM and that covers all of your cost to work with them. The reason that model works for them is their minimum is $und00 million. Okay? So at $100 million, that's half a million dollar a year at a minimum that they're charging each client. And that's enough to pay for the employees, the services, the outsourced services, the the custody, the access to products, all the other things that they have. That's the model that we would like to eventually get to, right? Um it's a work in progress to get there. We have to be able to make money in the short term to be able to cover costs and continue to grow. But over the long term, that's the ideal situation for us is we're somewhere around 50 basis points for all of the services that we provide to people. And there will be a high minimum because really that's that's only how that works. I'd love that to be around 20 million like I've talked about before as we see the appreciation on these assets. I think that that'll be completely viable. Um but you know so just so you have an idea of where I want to get to. There are multiple iterations in the way that we structure things and um the costs until that point but that is the the long-term goal.

Um, BC says this is great. When does your white label app go live? We're about two to three weeks away. Uh, we've still got some kinks to work out. But we've got a couple people that are going to beta um and we're going to roll it out uh over that period through the beta and then we should go live sometime mid-April is really the uh ideal time based on my conversations with our team.

Um, what are the minimum requirements for upholding DAG account? Do you have a current DWP client or or just have to have an LLC? So, everybody that has an LLC uh that currently works with us on that side, you will receive a link and an email in in the next couple weeks to be able to sign up uh for the application. Uh these are for business accounts. That's the main main goal that we've had. Uphold built in the KYB and did a bunch of stuff for us to be able to facilitate this. Um, they the gap that Uphold has, there's a couple, right? The trading fees is really how they the only way they make money. And the continuity or the estate planning uh they don't really have a viable solution for that. So we we kind of fix both those gaps with them. Um and that's why I think this is a really good partnership. But if you're already at DWP, just hang out there. No need. Over time, like I said, we'll migrate uh to where this is interoperable between both. Um, but if you have an LLC, you will receive an email uh in the next couple weeks here uh that'll allow you to download the app, you know, set up your bank account, do all the stuff in there, and um we'll be ready to rock and roll.

Um, yeah, Fireblocks uses NPC technology. So to be a qualified custodian here in the US uh you have to have HSM or hardware security modules uh on the back end um BNY Mellon and Anchorage and many others have just adapted copper or fire blocks and added that layer in there. Uphold has not done that. That's why they don't have the you know they're not a qualified custodian. And that's also another great way that we're able to partner is we kind of give access to um that avenue maybe eventually. And uh but Fireblocks also has access to DeFi and all these other things that we we have many clients that are looking for those things. They they're okay with the higher risk and they want to be able to participate out of one unified environment in the most secure way possible. Uh for digital students is if you onboard DWP when you make crypto purchase does it go to the OTC desk you charge 20 basis points or does a purchase is a purchase the same as if you just went through Uphold. So the Uphold app will have higher fees. The DWP will still be 20 basis points. That's you know and that's for any amount over there on either one of them. Um, Uphold have again they make their money off of trading fees. We've negotiated those down, but that is still going to be significantly higher than 20 basis points uh likely closer to 1% if you purchase your trade through the application uh versus the OTC desk over there uh at Anchorage.

Um, Diamond H for the situation where one party reneeded on the agreement understand the LE route has negative return. Is there a lesson learned about how to avoid this for future deals or just better better escrow? Does the risk just go with territory? It's just part of the territory, right? You don't ever know when they're going to announce a tender offer and when price is going to move in these private markets. U it's not like public markets where it's very fluid. These deals take, you know, sometimes the reason we do preferred stock is because they can close faster. But sometimes if they're still hung out for whatever reason um and things change, you know, people can back out of agreements. Um, the Yeah, I if I had a better way to do it, we would do it. Most of the time, uh, we don't have the tender offer going or we we're doing this right after the tender offers and so because of that, we don't have to worry about this risk. But that's just where it sits. So again, I'll keep you guys updated on the last 130 when we close that. But you know, again, the majority of this was purchased at around $140 a share uh on average. So I don't think that it'll be too big a difference when we get the other part deployed.

Um, will the app be available to people who have an account with DWP? Can people with just the LLC that aren't partnered with DWP access the app? Yes and yes. Uh both those things are true. But again your assets at DWP um you probably want to keep them over there uh because of the additional security and the adviser and all those things. The app is not going to allow you access to an adviser. People people have continued to ask for democratization of access to you know what we're doing and this is our first step in that direction. So there's no minimums that people have to you know put on the application over there. A lot another friction that a lot of people have had been a bank account associated with their LLC. They've tried Mercury, they tried Old Glory, they've tried different ones and just haven't had a whole lot of success. This ensures that they will have at least one bank account for them to be able to operate with their LLC. And it's in a unified application with all your other stuff.

Um, BRK says, "Hey, can you please explain why Verson is against institutional custody? I don't get it." And he doesn't explain it. Um, I don't know. I in my conversations with Fersan, he's never told me that. Now, I've heard him say that on other podcasts and stuff. I'd have to I don't want to misspeak for him. I I'd rather just ask him and see what his answer is. And so, you know, I think that's just him personally. Maybe that would be my guess. But again, I have nothing to verify that with. Every time I talk to him, he said he's like, "What you you guys are doing is great. Love the institutional custody y'all provide." Um, they are, you know, they have some other affiliates that they partner with. And because of that, you know, there's just different incentives. Same on my side, right? Like I am the majority shareholder of these companies. This is the way that I think it should be done. Differences of opinion. Um, so he's he's great. He has great economic insight. Listen to everybody and then form your own opinions, right? But I'll ask him and see what he says directly because again, I don't want to misquote him.

Um, before we move on to the macro here because we're almost uh at that point. Uh anything else uh on the deals for the people that we have up here that we want to go over?

>> Not so much on the deals per se.

>> Topic of conversation I don't think was brought up to talk about too much was the SEC ruling on the digital commodity.

>> Mhm.

>> And we'll jump into that for the macro. I'll answer a couple more questions for the Uphold partnership here before we move over to the macro.

Um, Uphold Business also does not have the vault option for custody like personal account has. Uh, we yeah, so it the assets are going to stay there at uphold for your business account. Um, the vault option is really for individuals that are just concerned that, you know, you might lose your keys or here's the benefit. So, if you leave your assets on Uphold's platform, not with us, there's no way to transfer that to your KIN or your beneficiaries. They just liquidate the assets and then they go through probate or if there is a trust, they don't have a trust account. There's there's no way to title it correctly. With our stuff, you'll be able to title everything correctly so that there's continuity. Your assets don't go through probate. Your beneficiaries get the actual assets that they are entitled to. Um, so the way that they've kind of worked around that for them is the vault product. So if you move it into the vault, that's a cold storage wallet that's in your name. Um, and then if your, you know, family is able to get the keys for that or regenerate the keys with them, they then get the assets to make those decisions because it's in a cold wallet that they control, right? Um, they can move it back to the platform and for Uphold, then they don't have to worry. It's not ambiguous. They can they can move that those assets to another account at Uphold that is in their name and then they're in compliance for everything that they have to do. So that's that's their way that they've kind of routed that so that they can mitigate some of that risk. Uh, but we won't have to worry about that on our side because the accounts will be titled correctly.

Um, so essentially Uphold is setting up to be a bank. Yes. Yeah. They have all the money transmitter licenses. They are a fintech bank very similar to Mercury. They just have the ability to trade crypto. They have tokenized deposits. They're very progressive on all the payments uh and the flows that way. Uh, I would say that they are a conduit for other banks.

Um, Mr. Coin says, "Does Laughlin come inhouse through DWP?" Uh, so we are moving away from Laughlin with the transition to this app. Um, you know, we're bringing all of those services inhouse. We've had some frictions with customer service and some different things over time. Nothing wrong with Laughlin uh separating amicably with them. No issues there. But uh because we have all the corporate veil and everything else that we're building into this application uh we're just bringing it all inhouse. So uh we will be migrating all the LLC's away from Laughlin over to our side of the table and you'll be dealing with our support team on all that stuff.

Um, if you're already with Mercury as of last year, your advice uphold or stay where I am. It's always good to have multiple options. Crypto Phoenix. Um, ideally you've got a couple different bank accounts for your LLC and that way, you know, you can move money around or do different things at different times. Different places provide different benefits. Mercury's only insured up to 50. Again, with the money market account over there at, you know, with what we're launching, you'd be insured up to 2.5 million because they diversify that across multiple accounts when they do that money market deal. Um, so you know, again, we just want to provide access to all these different tools and resources and then work with people to navigate that and make sure that they're getting the best output for whatever their investments are.

Um, Versan did clarify it wasn't applicable to Jake and his company. He was mostly against Kaylin Brat. Okay. Well, there you go.

Um, would we no longer have an account manager through Laughlin uh that manages things ourselves through the app? So, you'll still have somebody to contact 589. But, you know, it's we're going to try to streamline it and make it super simple. Like, you'll get a notification in your app to just go in there and fill out your meeting minutes. Um, it'll verify, you know, you're keeping your stuff clean between the corporate bail, uh, between your accounts. If you, you know, mismanage that for whatever reason, then it'll draft a a written consent, a written action to make sure that, you know, that uh contribution is is uh recorded. Um, and really there's not a whole lot else to the corporate bail. You just need, you know, meeting minutes and board resolution. There's just, you know, some paperwork that has to be done specifically for an LLC on an annual basis. Um, and we'll, you know, notify you guys through the application, make it streamlined and simple for y'all to be able to set those things up and and keep up with it. Um, but if you do need to reach out to somebody, we do have a hotline.

Um, DD said Versed that. Thank you, DD.

Um, does Uphold account allow bill pay or something similar? Um, so that's actually a really good question on on the family office side of our business. We uh we use soft ledger for the accounting because it does accounting in crypto. It'll do crypto in kind accounting. And we also have um bill.com built out where we can do bill pay for the costier clients that we have. That is an additional service and additional cost. But at some point we do want to unify that in this application also so that people can you know set regular bill pay a wire or whatever it is directly out of their account there. Um again over the long term we want to unify all of this and make it one simple application that people can manage their financial lives through uh basically the the wealth platform for people that made their money in crypto. So the answer today is no but we are working on it.

Um, Ry says when you go with Uphold Bank will transferring money into the bank to use every day be easier to do than a normal bank? You'd set up your direct deposit to go there. You'll have a wire instruction to be able to wire money in. You know, it is your business bank account that you're going to be holding over there. So hopefully, you know, your assets are generating revenue through staking or through the products that we're producing. And then those would be distributed to that account so that you'd have access to those funds and then be able to spend it on your debit card or your credit card if we can get that across the line where you get cash back in XRP.

Um, Uphold is not a charter bank institution. No, they are not. And that's why the marriage here is important because we have we will have both, right? So there's a lot of benefits that Uphold has that Anchorage doesn't and Anchorage has benefits that Uphold doesn't have. And so we're trying to, you know, again be the conduit and allow people access to both depending on what they're looking for.

Um, I'm usually contacting Laughlin to update them on the capital contributions and so on. They typically send me a paper to sign who will do this moving forward. We will do it through the app KK Pon. But uh I will verify that and we should make it super simple. So like let's say you sent a deposit over there, it should flag you uh if it came from your personal account and it would autogenerate that deal and then you would just execute it um inside the app would be the ideal way to do that.

Um, my current one-year annual fee is paid to Laughlin hasn't expired, but I took advantage of the promotion and paid for the next year in advance. Can I get a refund on that? So, we'll still honor those things. It's not like um you're not going to get that or the corporate fail service or all those things. Again, all of that will have continuity. You'll still be provided all those things if you're prepaid. So, there's no no disruption in service.

Um, so in layman's terms, what's the biggest reason or benefit with partnership with Uphold? How do I want to answer this? There's kind of a short-term and a long-term outlook. MC McRipple. So short-term business bank accounts, access to crypto trading, holding other assets that we don't currently provide custody for at Digital Wealth Partners, access to DeFi, the money market account, business bank accounts for people that have had a hard time setting those up, all-in-one unified application over the long term. And I can't talk a whole lot about this, but I'm just going to lay out some facts for y'all, and you can make your own assumptions or inferences from those. Uphold currently manages about 5 billion XRP for their retail clients. What are some other facts that I could lay out? They are not a qualified custodian. They don't have a a wealth manager associated with their platform. They are looking to become more of a a bank type infrastructure. And they don't have a lot of the services that we provide as far as the continuity for the accounts. You know, there's they don't they're not an institutional custodian. Uh, they because of legal stuff don't really have a way to be able to navigate creating products that leverage or margin the asset to be able to generate returns. There's a lot of things that we can do that they can't do and there's a lot of stuff that they've built that that we didn't have access to. So again, you can kind of make your own inferences there about what might be uh the ultimate goal or the the ultimate benefit of the partnership with football.

Um, PDFs but NBA good time we're trying to unify everything so that there's no separation right it'll be one login one portal one web app one one application on your phone that's all unified that's not disjointed and has different things in different places to log in here there. It's just going to be one unified app. So those that you know are involved with our app in the beginning, you'll see us be pushing updates to that. You'll get access to other products and solutions. We're going to make other integrations. So this is the DAG app that is a one-stop shop. Uphold is just I don't know if you've ever seen a white label version of something, but it'll say like powered by whatever it may say that somewhere on the app, but I don't I don't even know that it will say that. So for for the the consumer or our clients, it's just going to be one unified application. You're not going to need to understand all these differences.

>> Powered by D's.

>> Powered by DS. [snorts]

Um, this person says New York residents. Yeah, that's another one that we're going to verify that we can do. But with Wyoming LLC, Michael, I think we can get around that for New York residents.

Um, are you moving the existing LLC's? No. So, we're not moving the LLC's anywhere. The LLC's are coming back from Laughlin to us. We're going to manage that going forward. It's going to be in one unified application. And again I understand and this is the reason we're doing this. We're consolidating everything because everybody has a hard time understanding well this company does this or this company does that or this partnership or these things. It's just going to be DAG. It's just digital ascension group and we we are your digital wealth partner. So all the things that that entails.

Um, Laughlin creates our meeting minutes. Do we have to create those in-house in the app? No. We'll have an autogenerated deal and you'll just talk to it as as ideally how I would like it to work, Lady Sage. And that AI would then, you know, create your meeting minutes for you. That's that's what we're looking to do to be able to streamline that and make it much easier for people to get those done on whatever time frame or whatever time they have to do it.

Um, are we continuing to work with Laughlin in the meanwhile on our LLC meetings? Yeah, for the next call it 30 days uh we are going to be offboarding from Laughlin. There'll be a transition period. Appreciate people's pat and patience and grace during that period of time. But we will be offboarding from Laughlin and migrating over to our own infrastructure.

Um, DWP, do not call DWP. We have a full customer service team at DAG. If you go to digitalfamilyoff.io at the bottom there is a customer service number. You can call them you get Morgan or one of our other customer service representatives. And they'll help you uh with any questions that you have. As far as the service previously provided by All Laughlin, will there be a division of DAG? Yep, we already have it. And again, we're going to streamline it with some AI and other things to make it much easier to handle so that it's plug-and-play like you're talking about here. And everything will be done, you know, in in app.

Um, the corporate veil should have already been included in whatever you've paid Deep Porcella. So again that there'll be continuity in the app for those uh services on the corporate veil. But again over the next call it 30 days they're still going to be providing that service until we roll that out in the app so that people have access to it.

Um, on the uphold account assuming seasoning wouldn't be an issue with that account. That's correct and you shouldn't have any frictions or issues on moving large amounts of or liquidating large amounts of crypto to that account. That's the other reason that we're doing it. You know, if we go through KYB KYC with you, then you're going to have access to those funds. Uphold does have some uh regulatory compliance built into the back end. So, I'm not going to say that there's not ever going to be any issues with, you know, restrict restrictions to your account or um delays in things because again, we're white labeling their stuff and they have certain compliance measures that they have to uphold. Uh-huh. Pun intended. But aside from that, you should not get flagged or frozen because you just liquidated a bunch of crypto to your bank account. No, that should should not happen.

Um, with the loft and changes what about the mail service they provide. So we'd have a registered agent uh that is our partner there and uh we can absolutely facilitate that piece. Also have a mailbox, people get to send you mail there. It gets downloaded or uploaded into PDF and then emailed to you which is what I assume uh you're talking about. We can absolutely provide that. I that's not something that I don't know if that's included or not. I have to verify that. If it's included, we'll include it. If it's not included, it may be an additional cost.

Um, so we're able to keep our assets at Anchorage and still participate in Uphold App for this. How does that work? Sorry if I missed anything. Uh, good question. Again, over the next 3 to 6 months, we're going to be integrating both of these. So, it's one unified Oracle or one unified uh, application that you log into. As of today, they're going to continue to be separate. But over the duration, you know, we want to be able to send assets from Anchorage to Uphold if we want to participate in certain DeFi or other things there. And there may still be delays with that. Anchorage's SLA is 24 hours for them to move assets. So just be aware that there may still be some clunky frictions, but we're going to do everything that we can to streamline that and make this as unified and simple and real time as possible. But as of today they will be two separate applications. The Uphold app can hold Flare. It can hold you know a lot of the other assets that people may have exposure to that Anchorage cannot. And uh you'd be able to participate in the products and solutions they have there for staking and other things. And if you have an adviser they can kind of walk you through the risk tolerance on all that. Sorry, taking a drink.

Uh, fire fireh hot says, "Great news. Appreciate you. I have three LLC accounts with Chase, Rely, and Mercury, and I'm having problems with Chase and Rely. So, this gives me a good option to go to. Thank you, Max, for all the hard work that you and your team do uh for what you're building. This what the entire team is building uh something that is just amazing." Thank you. I appreciate that, Hotfire or Fireh Hot.

Um, all right. All right. Well, let's get into the macro of and then we'll we'll circle back.

to these questions. So, where are we at on that side? Uh, I know a lot of people hang out for kind of the first hour just to look at that. Um, still trading sideways on on the crypto markets here. We really haven't seen a whole lot of action. Uh, we are forming, um, what looks like a bottoming structure. You know, there's kind of a cup that has currently formed here, and you might even call what's on the XRP chart a handle. Um, that tends to move substantially higher. Maybe that'll be the case. It also could be in Woff accumulation and continue to persist sideways for an extended period of time. Don't know what it's going to be as far as the Clarity Act goes and things on that side. Um, Max, can I, can I share what you told me yesterday as long as I leave it ambiguous? He unmuted, but I didn't hear what he said. >> Oh, >> no. Okay. All right. Well, I'll leave that in video sense.

Um, so, uh, there's a lot of optimism around the Clarity Act being passed. You had, uh, Cynthia Lumis post a yield sign yesterday, kind of insinuating that they are coming to the table on the yield stuff. I think that that is the last piece before the banks are going to feel really comfortable, you know, launching their stable coins. You've seen PayPal launch their stable coin. Uh, Stripe is talking about theirs. You've got a lot of large banks and institutions, you know, kind of gritting their teeth, ready to go. They're just kind of waiting on the final say-so on what the yield is going to look like on these. So, I think that needs to be in place. Um, and then they could allow the reverse carry trade to unwind. And the reason being on that is if they allow that to unwind before the banks are able to issue those stable coins and buy up those treasuries and drive demand domestically for that, it becomes a big, big problem. Um, you, uh, it would destabilize our bond market completely if we don't have that demand here domestically. So I think that's the lynchpin before they're actually going to let this deal unwind. Uh, and I'm sure the US obviously is in conversations with Japan on what that looks like. We've both held rates, uh, to continue to maintain the status quo in the meantime here. I know that's frustrating for people seeing that, especially with the pressures that we're seeing over there in Japan and here domestically on gas prices with oil much higher. There absolutely is inflation in our economy. Um, and for them to continue to hold rates does not seem like, uh, you know, the right fiduciary call for citizens at all. Uh, but it, they are looking at the broader macroeconomic scale and the unwind of this and what the repercussions would be if everything's not in place. So I'm hopeful that this week coming up we will have a solution brought forth on the stable coin piece.

Um, you did get guidance from the CFTC and the SEC this last week on on that the majority of these digital assets are commodities. They even listed ones specifically that they believe are commodities. Uh, so at this point, it's just contracts. Now, the DeFi piece of that is still a little bit fuzzy depending on what type of proof of stake or, uh, liquidity pools or DeFi you're participating in. Those could absolutely still be securities offerings. The risks need to be disclosed to investors. Um, you know, those are probably going to fall under the SEC's guidance. Um, the assets themselves, investing and holding in those obviously seems pretty clear that those are commodities. Uh, but if you are participating in, uh, some type of product that generates returns, [snorts] there's still some ambiguity around that and, uh, I think that that'll probably come out in some form of legislation later this year. Um, we'll see if any of this gets passed. I know that there's a lot of people out there that are, um, a proponent that nothing's going to happen until legislation gets passed. I am the opposite of that. I feel like with the clarity that we have that a lot of these are commodities at this point. Uh, as soon as the stable coin piece is in place and they decide what they're going to do on the yield there, everything should be in place for things to move irrespective of the Clarity Act going forward or not. Um, I'm hopeful that we get, you know, congressional legislation, but with where we're at in the year at this point, I mean, I told you guys earlier in the year they really needed to get this passed back in January or February. We're moving into campaign season for the midterms. Um, and it may end up being, you know, after those elections in early '27 when we really see this legislation be codified and put into law. Uh, which is, you know, for a lot of people that's going to sound disheartening because again, if your your whole thesis on price appreciation or adoption of this asset class is predicated on that, that completely pushes you out, right? It's another 12 months before you get some type of relief. Uh, but again, my mindset is we have everything needed for specific assets to be able to be adopted irrespective of the Clarity Act being passed, and I do think that you're going to start to see that they they would not be able to tokenize the stock market this year if that was not the case, right? So, they they've already greenlighted that. Um, and I do believe they'll move to real-time settlement this year in 2026. I have not seen a date posted for that. That would be an indicator if we did see a date posted for, um, the transition to real-time settlement. They did put out the date for T+1. When they did that and implemented it back in, uh, I think it was February 28th of 2024, people knew that that was going live on that day. So maybe there will be an actual date that they say, "Hey, you know, this is the day we're going to move to real-time settlement on the back end of the stock market." For them not putting that out is a little odd to me. Um, just giving a date range because that's not what they've done in the past. They've been very clear publicly when they've made those transitions. Uh, so maybe they already have the capability to do this and again, my tenfold hat just take it that way with a grain of salt is that there may end up being a crisis where they have to move pretty quickly to implement that to be able to derisk the back end of the stock market and these investment banks and, you know, cure up, uh, things in the system.

So I'm still watching for the reverse carry trade unwind. I do think the lynchpin before there's actually a green light on that is the yield piece for the stable coins. Um, I didn't know that they were going to drag that piece forward, uh, from the original stable coin act. I thought that that had been resolved there. Um, and so there's these little nuances, right, that have continued to push things out. Um, but, uh, everything's still on track. All the economic factors are still there for the reverse carry trade to unwind. But it is going to require somebody to blink, whether that's the Bank of Japan or, uh, the Fed, you know, coming out with an emergency meeting. The Fed has come out with emergency meetings at multiple times in the past and, um, you know, lowered rates aggressively during those. Uh, the Bank of Japan has never had an emergency meeting. So, it would be really kind of unprecedented for them to do that. I was hoping that they would, you know, inform their monetary policy in the last meeting, uh, that they were going to raise interest rates because they need to. Um, we haven't seen a spike in the yield curve. If you go and go look at the JPY 10-year yield, um, it's still kind of hovering around 2.2. We're up to 2.282. Uh, this graph also looks like kind of a cup here. So, there may be another exponential move in the tenure yield. If if you see that spike, you know, closer to three. Um, and this is kind of a moving target, too, right? I know a lot of we've we've talked about 1.6, 1.7, we've talked about, you know, 1.25 as things drag out further. Um, the the spike is going to have to be larger, the move's going to have to be larger in order to set off things and the rotation there for the treasury market. Um, I wish everything was stagnant and you could just pick hard numbers, but with all of these factors kind of changing real-time every single day, the the Gulf Coast does actually move around, which I know people aren't a fan of. They would love it to just be black and white.

So that's kind of where we're at on the macro. Uh, conflict still ongoing there in the Middle East. Uh, I have seen some, you know, uh, rumors that that's starting to wind down, uh, and that there's going to be some resolution that they're coming to. I don't know that you that that's ever going to happen. Um, we have we have a large military presence there. The other thing that this has kind of opened the door for that's interesting to watch is, uh, China and Taiwan. Uh, it looks like, you know, they've surrounded Taiwan and they may be trying to take Taiwan back into China. Um, if you if you wanted to look at this objectively as like pieces on a chessboard and world leaders, um, there's a couple strategic regions for the US to maintain control over. One of those is Venezuela. The other one, uh, if we did get it, would be Greenland or Iran. Um, and for Russia and China, their respective regions that they would like to have control over would be, uh, Ukraine and Taiwan. So, I don't know if Trump said, "Hey, we get these two depending on if it's Iran or Greenland, and we already got Venezuela, and then you guys get each one of those, right?" Like, we're willing to give up those territories if you're willing to give up these territories. We'll see if that's the case or not. I don't think that that'll ever be publicly displayed, but just looking at it objectively, if you were a world leader, um, it makes a lot of sense that there would be some give and take in negotiations, uh, going on for that stuff.

Um, this person says, "How will Iran allowing ship Japanese ships through the Strait of Hormuz affect oil and yen and the BOJ's overall sentiment to raise rates?" I think the damage is already done, right? I've said that a couple different times. For the cost of oil to be as high as it is there, um, they are going to have to move if this continues to persist. And, uh, I don't think that they're going to be able to continue to stave things off. I think it's kind of too little too late at this point for the Bank of Japan and the interest in their economy. Now, I could be wrong. Uh, this has taken longer than I would have liked it to and I think everybody else as well, but I I do think the lynchpin again is kind of the yield piece for, um, the stable coins. And as soon as that is codified and they have a resolution there, we will see things roll because that will allow the US to soak up those treasuries as they rotate.

Um, KK Pon says, "Can you talk more about your partnership with Ripple Prime?" Uh, we are at the hour here. What, uh, do you have anything else that you guys have seen out there on Twitter that, uh, would be good to touch on before we move on to the questions? axing legacy. >> We go ahead and move on. >> Yeah, we can go. >> Okay, cool. All right, so the, um, we did have the podcast with Mike Higgins. If you guys haven't watched that, I would encourage you to go do it. It gives a pretty deep deep understanding of what Ripple Prime actually does and why it's so integral to the long-term vision for Ripple. Um, what they're going to be able to do with XRP as collateral and ROUSD as collateral and how that's going to kind of work with G Treasury. Um, so they're going to continue to build out products. They can take whatever asset you have on your balance sheet basically reflected on theirs and they provide you access to a bunch of different markets. So, if you're holding RLUSD or XRP or Bitcoin or, uh, other stocks or bonds or whatever you have for your company, they basically create you a line of credit, uh, against that that you can then take and go put into something else that generates returns. Um, I can't talk about what we're specifically doing with Ripple Prime. Um, Mike was nice enough to mention our partnership there at the end of that, uh, uh, podcast. Um, so I I feel, you know, if he's willing to mention that publicly, I will say that we do have, uh, a partnership with them. Um, but I can't say explicitly what that's for. You guys can make your own inferences based on some of the products and solutions we're trying to bring to market and how that might work. Um, but I can't talk explicitly about what that actually is or looks like.

Um, DD says, "Whether Clarity Act will happen or not, this is possible delay in yield products." I would think not as the move XRP circulates. Oh, the other deal that happened this week that I didn't touch on, back to the macro real quick, uh, is Everorth. Ever filed their S4. I talked about this on the lives, which I'm sure you guys watch, but if if you didn't, they did formally file their S4. I would expect that we will see, uh, the SEC approve that S4, uh, sometime in Q1. That's been their mandate the whole time is to go live in Q1. Um, I I'll say this, if if they do go live and you can already buy the stock, right? So again, it's a levered play on XRP. You have to believe in the company Ashish, David, Michael, um, there's some, there's a lot more risk in investing in that company versus XRP directly, okay? So just be aware of that, but if you do have a 401k or stock portfolio and you couldn't buy XRP anyway, that would be something you might look at for an allocation, especially at the price it's at now. Um, they have about 400 million XRP in their treasury company. It was a billion at the end of last year with where the price was today, it's it's down from that. Um, but they are going to deploy that into different DeFi applications on the network and foster, uh, and seed different things. U and that's their objective and I will say this, getting in early on that stuff, which they likely will because they know the people that are doing it, um, does tend to produce a higher return. So, um, take that as you will, again, not telling continue to invest or not invest, but that seems to be coming to fruition in the near future. And if we see the XRP price move, uh, at some point, irrespective of when they're going to have a huge bump in their valuation of that company because I mean, it's an XRP treasury company. So there, I don't know, it should be a leverage play. You should get like a 1.2, 2, 1.5x return, um, on whatever you invest there in addition to whatever XRP does, if that makes sense. So again, make your own choices, talk with your financial advisor. I just wanted to throw that out there because that SPAC is closing soon and I think I'll look at the stock price here. XRPM stock, uh, currently trading at $10.29 per share. Um, Armada Acquisition Corp. Yeah, it's weird that they've already changed the ticker. That's very unusual. Um, the high for this stock since it was launched in 2024, uh, was $10.43. So might be might be a good one to look at if you have a higher risk tolerance, uh, and you're okay with not holding the XRP directly.

Um, thank you for the, uh, DD sharing the podcast there in, uh, the chat. She's also asked, uh, whether the Clarity Act would happen or not. Does this possibly delay any yield products? I would think not as the more XRP circulates the better the new financial plumbing works. Liquidity in the house. I would agree with that. Um, I as X because XRP is a commodity and it's not a security. Um, you can build securities offerings on top of it, right? So like I would argue that a lot of these DeFi things are securities offerings. You are putting up your collateral for somebody else to be able to generate returns on your behalf and then pass those back to you. That meets all the prong prongs of the Howey Test. Um, we structured it that way. Like our hedge fund is exactly like that. It is a real securities offering. It's registered. It's audited. It's all those things. I think that DeFi will be that way. Um, at least here in the US. I know there's a lot of people that would prefer not to have the cumbersome stuff around it, but I don't see any way to make sure that investor risk disclosures and everything else are done and that there's oversight and accountability.

Um, thoughts on R3 Corda using Solana instead of XRP for backend settlement of SM now that Solana has received clarity from the SEC. Did XRP lose its moat? So, it's a good question. Um, if you got, you probably didn't attend the deal with Ray there in B in, uh, Denver. Um, if you want to go watch that and listen to John Windgate talk about, uh, redundancy, uh, and and fail, he uses a specific term, but basically if one of the payment rails fails, there's backup payment rails. So R3 could absolutely have some redundancy with Solana, but they're always going to route them the payment through the cheapest, fastest way to do it, and that's what the XRPL does with its DEX. Uh, again, I think everything settles back to the XRPL on at the endame. Solana has gone down, uh, repeatedly and they're not going to risk that being the main network and then having XRP as a backup network. They would just have XRP as the main network and if XRPL gets paused, they could route those payments through Solana or something else. So, they need some redundancy built in. So, it's not to say that they won't use Solana, but I think that the majority of those payments, the primary when, and this is how R3 and Corda says this, their primary settlement mechanism is XRP. So that's not to say that there won't be XDC, Solana, some of these other ones that they will route payments through based on certain circumstances. Uh, but the primary settlement mechanism, uh, will still remain XRP.

Um, yeah, there's Blazy Rivers posted Ripple Prime wink if I'm right and it posted the yield sign. Uh, there's a couple winks on there for you. Um, uh, 70 says, "My LLC is up for its one-year renewal. I paid the $500 to onboard with Law Fund earlier back in October. Who do I need to contact to pay the rest to keep the LLC going?" Uh, we'll reach out to you on our side. Um, but if you want to email info@digitalfamilyoff.io and just let them know, they'll they'll be a little bit more proactive if you were to do that. So, uh, we've built out, um, the CRM on our side finally with Salesforce and we're building out all of the integrations to make sure we're tracking all this stuff real-time and staying up on top of everything so that there's no issues and there's continuity and you're flagged, you know, call it three months before that's due and you're made aware of it and that way you can go ahead and pay it and you're you're always current and there's no no frictions or issues.

Um, Ever North required to buy XRP off of exchanges or can they buy from dark pools? They can buy from wherever. If you look at MicroStrategy, they buy through dark pools pretty frequently. Any DAT can buy XRP or acquire it from wherever they need to. If there's no supply left on the dark pools, like I think is going to happen, then they would absolutely have to move through exchanges. Um, yeah, there's a wink. Somebody's screenshotted that.

Um, Drippy Bet says, um, "Will DAG app also have insurance products as well, uh, term, life, ILS, etc.?" Again, our our ideal outcome with all of this is that everything's unified in one application. Um, and you have multiple points of contact with our company depending on different products and solutions, uh, in order to be able to get the best outcome for you and your family. That is on the roadmap to integrate the insurance component, uh, inside this application. As it sits today, the answer is no. Uh, but the long-term vision is to unify everything right there so that you can review everything in one spot.

Um, DOMG says, "So, if we need to wait for banks to get stable coins, how can that accomplish prior to Clarity Act?" I think that the, they can come to a resolution. Um, because they already passed the Genius Act, right? This is just yield by third parties on the stable coins. Uh, they've just got to decide if that's possible or not. Uh, and how that's going to look in the Clarity Act or whatever regulation, I think that that issue is going to be good enough. I mean, you've already seen, uh, PayPal launch their stable coin, right? So, if if if they were all going to just hold off on launching stable coins, you wouldn't have seen PayPal launch theirs. Finex, uh, and you know, those type of companies are going to be more aggressive in things, uh, versus banks tend to be a bit more conservative. They're going to want some type of, you know, authority to give them clarification on that. Uh, but I think as long as they have clarification on it and it said, you know, we're going to go this way or that way, they're going to be able to move forward.

Um, what would be a good day for me to decide to look into opening my business checking account for my LLC? Uh, in a couple weeks here, once we have the app open and you have received your email and you can log in and set up that bank account.

Uh, Racky says, "Still believe XRP will appreciate before the Clear Deck." Yes, I do. That's Max. Max Max says otherwise. By the way, we we have differing opinions and that's okay. Um, but I think, you know, we're going to need to see the Clarity Act, uh, at some point, but I don't think that that's XRP's price appreciation is dependent on that. I think it being as a commodity and, uh, having all of these other things happening in the ecosystem, all of the, um, amendments that have been passed, speaking of which, uh, I'm going to look at that real quick. Let's look at XRP scan forward slash amendments. Nothing. I haven't seen any movement on any of these, which is a little sad. Single asset vault and the lending protocol on either one. Both are still sitting at eight and six, respectively. Threshold for both of those is 28 UNL validators. You need 29 UNL validators to, uh, start the two-e process before those get implemented. Um, hopefully we see some movement on that. Um, permission delegation. Uh, I think it's been deprecated here. Um, I don't know if if pseudo accounts accomplishes that or not from the vaults. I would think it would. XLS 64 should work the same as permission delegation. Um, batch has also been deprecated, which means they're not moving forward with that. They've got to update the network and and repropose a new amendment for the batch payments on the XRPL. Batch works. If they have an implicit or explicit subnet and they have payment channels, you don't necessarily need batch payments, um, like you would for a, right? Uh, but I do think that it they will probably build in that function at some point. Uh, but currently as we sit, those are the only two amendments that are currently being voted on that haven't been deprecated are the single asset vault and the lending protocol.

>> You got something? >> Well, yeah, I was going to say and so correct me if I'm wrong, but the Clarity Act is really the benefit is for future administrations to make any different rulings or go back to ruling by enforcement and in any future administrations. So in the short term in the current administration, the new, uh, ruling with the SEC and the CFTC, which are the two government bodies that are going to be regulating the crypto space, they they have just produced clarity. The Clarity Act itself is to put some of this stuff into law so future administrations can't make any backward decision. >> Yeah. 100% on point with that. So hopefully that gives people a clear understanding. >> What you say? They can eventually finagle it around if they want to. It would just be an uphill battle. >> Even with the Clarity Act passed or without it passed. >> Yeah. You can always amend, amend, and amend, and amend. >> It would just be a lot more challenging. >> Yeah. So, you know, I I think the CFTC and the SEC are doing everything that they can to foster this and move it forward during this administration. Um, and once things are implemented, it's going to be very difficult to unwind them at that point. Once these networks and protocols are used at scale, they're going to be systemically important and part of the infrastructure. And to to unwind that would be basically impossible without collapsing everything, right? Imagine if they tried to go back on a payments and and wire and the stuff that we have now. They wouldn't be able to do it there. There's too much infrastructure that's been built on top of that to be able to facilitate these payments and commerce, it would it would collapse the economy. So, same thing for this. If we do see this implemented during this administration, which I think we will, I think we'll see it implemented here in 2026, um, you're it's going to be very difficult for them to circle back and change things later. >> Yeah. Yeah, I just thought I thought it was interesting that the two the two bodies are now in agreeance on what isn't what is considered a security and now what is considered a digital commodity. So then then really the only thing they would need to determine the definition of is like, okay, real world asset, social token, um, uh, DeFi, DeFi token, right? So the the two main bases of clarification have been drawn, which would, if you look at like gold, okay, so could you now have a tokenized version of gold? It's a commodity and now you have what is considered a digital commodity. So, okay, so it would work with the two with whatever asset clearly on that list. So, yeah, and they're and they're in agreeance, which is what's most important. So if anybody that's been in space for a while, those two, uh, governmental bodies never really agree too often. So for them to say, "Yes, we're a joint statement. We're in agreeance. This is how we see it." Um, is quite significant. >> Uh, yeah, I completely agree and I I do think that that provides enough clarity for the market that is able to move forward without the Clarity Act. Again, just my opinion. Take it with a grain of salt.

Um, Mark Sparky says, "I thought the billion dollars for Evernorth to purchase XRP only got released after the S4 was done." So, they raised money in XRP. They didn't raise dollars to buy XRP. So, Chris Larson, um, I think Brad threw in some, Michael Arrington's fund, uh, Uphold threw in a little bit. They've SBI, there's been large bodies that had XRP that basically contributed to create this corporation. Um, so they already have the XRP. It's just held in an escrow until the S4 is finalized and then they can start using it to do other stuff, whether that's trading or putting it to work in DeFi applications or lending or margining it or a bunch of other things. An ETF is very restricted on what they can do with the underlying collateral. Basically, the only thing that they can do is, uh, stake it in some way to produce returns, whatever is native staking on the network. Um, it really limits your ability with a DAT. You have a lot more flexibility and you can escalate up the risk curve on how to put that capital to work to generate returns to then have a leveraged bet on on the XRP. But they are, to your point, holding that they can't do anything with it until the S4 is approved.

Um, Double D says, "Cannot express enough the appreciation to you both for sticking y'all's necks out and taking the risk associated with putting the architecture necessary to allow us others to have a chance at success in the new financial space." Appreciate that, man. Yeah, we look, again, a lot of the stuff we build is selfish. It's all things that we want to have access to. And if we are able to democratize access to that and create solutions for you guys, that's that's the that's the game. That's, uh, the fun part. And again, none of this matters. I just want to say thank you to you guys. If y'all didn't want the products and solutions that we're creating or didn't find value in this stuff, none of it, none of it matters. We're and coming together as a collective, right? Like I've had this conversation here a couple times recently. Um, and and rightly so. People are frustrated with fees and, you know, that the market hasn't moved and they're feeling, uh, the tension in the market and the the sentiment, they're down on things. The the foundation that we're laying right now for the community, allowing everybody to independently participate but also participate on a unified front, just like the insurance product I talked about earlier, like if it's just like five people, it's very expensive to get the insurance. If it's just five people that hold XRP that go try to talk to Ripple Prime, it's not enough XRP for them to care about. If it's just five people that are going kind of trying to get a better rate on lending, even if they've got a billion dollars, it's not going to be the same conversation if you're part of a a conglomerate that has a hundred billion dollars, right? Like the leverage point, uh, that we're creating for the community is is hugely impactful and it's going to benefit everybody that's participating with us. Um, there are costs to that in the short term to be able to continue to facilitate the business and grow at the scale and create the partnerships and all that. So, I just want to say thank you to everybody that sees the vision and is participating with us and helping us grow this thing because again, none of it's possible without y'all seeing that broader vision and how this is going to work out over the long term.

Um, Smoke says, "If I have an LLC that was not set up by EG, is there a way to migrate that to the portal?" Uh, yeah. Yeah, we can do that. Um, you just have to upload your documents and all of that. Um, and then you'd be able to set up the bank account. You go through KYB, uh, and then you can enroll in the corporate veil service and the other stuff that we're providing to make sure that you're maintaining, um, all of that so that you have the creditor protection.

Um, Joe M says, "Will DAG help with an irrevocable trust or should I see local New York in local lawyer in New York?" Uh, we can absolutely do an irrevocable trust. Um, so we we actually now have a way for you to set up a revocable trust in Wyoming if you wanted to do that. So if you wanted your living trust in Wyoming to get the additional benefits that provides, uh, we have a way to do that. Before, uh, we only had the ability to set it up in your state with local counsel. Uh, irrevocable trust can be set up in whatever jurisdiction you want. So, if if that attorney is only licensed there in New York, um, setting up an irrevocable trust in New York is probably going to be cumbersome, um, not tax efficient. You're not going to get the anonymity. You're not going to get a lot of things that you would get if you worked with a trust attorney in Wyoming or South Dakota or Nevada. So, I would encourage you, you know, to reach out to our team. We have trust attorneys in each one of those jurisdictions that we can refer you to or work to work with you to draft that and then they basically sign off on it. So, uh, I would just reach out to our team. Um, Dan Plasket is probably the gentleman that you're going to talk to, him or Christina. Um, and he's our chief architect and we are going to try to create some some templatized versions of this stuff. We're also want to implement AI to be able to build out a lot of that language. We're not attorneys, right? We don't put ourselves out as attorneys, but we will work with clients to draft the documentation that they can then take to an attorney for final review. The, you know, they'll tell them what you say, hey, these are the things I wanted in here. They review it. They say, "Yeah, this looks good." And then basically, they sign off on it. So, it saves you the cost on having them draft the whole thing. And it creates a lot of efficiency. So that, um, you know, cuz they're going to charge you a lot more for their time if they're a really good attorney versus what we're going to charge.

Um, Cira says, "As a Canadian, do I just sit tight, um, with the way the DP account is set up? Also, Connor Ml now head of enterprise DWP or is that DAG now? Big confused." Good question is. Uh, so yeah, just sit tight as a Canadian. Uh, we're going to figure out what we can do with Uphold for you guys to be able to access the app. That's on the roadmap. It's not an immediate deal, just so you know. Uh, I don't know what the time frame is going to be for us to be able to orchestrate that. It's obviously going to require compliance and licensing, and there's reasons that they withdrew from that jurisdiction. So, we're going to have to work through that with them and see what what those were. Um, so appreciate your patience there. Uh, but yeah, DWP is still good to go. Uh, Connor is now head of enterprise for DWP, uh, which again, we're consolidating everything to Digital Ascension Group. So he'll be head of enterprise partnerships. Um, so what that does is he's working with other RAAS that want to leverage our services as a subadvisor, uh, or other exchanges or or large partners that want to potentially partner with us to be able to facilitate certain things for their client base, uh, while they still own the relationships. Um, we want to build out models and an SMA platform and a lot of the stuff that the industry doesn't have currently, uh, to be able to help facilitate that and be the conduit for them to be able to access these products also. So, uh, he's full bore on that, excited for him to be in that position. I think he's the right guy for that. He has a deep, deep understanding of everything that we've built on our side. Uh, he's been here since literally day one. Um, so really proud of him, uh, in his journey and excited to continue to see him grow with the company.

Um, perpetual student says, "Are we able to create a new LLC through DAG? If so, what does that look like?" Yeah, we can set those up for you. You can file those now or, uh, you can wait till the application is up and live and then just do it through the app here in a couple weeks.

Uh, Jody says, "Are you bullish?" I am still the I I am ever more bullish every single day. Um, but I will say, you know, I get tired just like you guys. I'm I'm human. Um, things are taking a little bit longer than I would like them to play out, but that doesn't mean any of the circumstances have changed. Um, all of the macro is still right there on the precipice of things happening. Um, oil's continuing higher, inflation's continuing higher, credit markets are seizing up. All of these are indicators that we're right here at the goal line. So, uh, when does that break? What's the straw that breaks the camel's back? Your guess is as good as mine. You know, there's there's all these compounding factors. Anyone one of those could be the thing that does it. Um, charts look good. You know, I'm hoping for significant upside just like you guys are, and believe me, there's nobody that wants to happen more than I do.

Um, Rex RP says, "Can you please clarify, uh, where we should expect to hear about these announcements for changes in addition to the town halls? Finding things on Discord remains problematic, though I know the team is working on it. I feel we should be getting direct comms via email from DFO in addition to these other avenues. Thoughts, uh, like the app idea. Thank you." So, we will you will absolutely be getting communications direct from DFO, uh, and and Digital Ascension Group. Um, we put out that press release and and Max and I were both a little bit like, cool, this says partnership, but it doesn't really say what what it is or what it's about. So, I knew that there was going to be a lot of conversations that needed to be had. It's it's good and bad. Like again, there's there's other things that we would like to do with Uphold as we continue to grow that partnership. Uh, but where we're starting is the application and you will be receiving communications from your, uh, the team over there to be able to enroll in that as soon as you have the capability to do so. Um, this this is the only other thing I can do. I can just not talk about anything and not give you guys a preview or kind of let you know what's going on and let the the companies do that. And if if you guys would like that more, then I can just shut up about any of that stuff, uh, and and not tell y'all what's going on. But I think people that you want access to that, you want to know what's going on and the team there will communicate too. I tend to be a little bit early for stuff, uh, as we roll things out. I I prefer to know that things are coming up and kind of what to expect. Uh, and so that's what I'm trying to provide. But if that is not received well, then I will I will stop doing that. Um, okay, they [laughter] all right. People seem to be fine with me giving you guys the update and then rolling out, you know, communications as they're codified. So,

Uh, Ricky Bobby says, "It was great seeing everybody in Nashville. Fantastic event. Congrats on the team for the growth and evolution. Uh, came to DAG meet up in Dallas in November '24. What a change in atmosphere and growth. Congrats and cheers." Thank you, dude. I was excited to see you guys there. Uh, yeah, a little bit larger event. Um, I was we were reminiscing the other day. We've got a guy that's working with us at the Digital Fusion Summit, which we're putting on in April of next year. And, um, he came to the very first event that we had in Dallas. It had about 20 people there at the shop. And, um, you know, to see it grow to, you know, five, six hundred people at these events is just incredible. Uh, hopefully you guys, the whole point of these events is for you to meet other people in your area or other cool people that you know you can go to dinner with, you can talk to, you can create relationships with that are like-minded, good people that you want to be around and be able to cultivate those relationships now before you have significant, you know, wealth event for everybody. And then, you know, you can go on trips and do things and have fun and everybody can kind of pay their own way and it's not, you know, this person has to cover everything for everybody and nobody can get off work and all that stuff. So, hopefully you're taking advantage of that. I saw a lot of people networking, meeting new people there at the event. So, super proud of you all for doing that. And again, that's that's what those are about.

Uh, why would we want to create a new LLC through DAG? Does our current one with Laughlin not work? So your LLC from Laughlin will move. Your LLC is already with us if it's with Laughlin. Okay? So we're just migrating that to we're going to own it. We're going to provide the corporate veil. We're doing all those things. You're not creating a new LLC. It's the same LLC. There's no change. There's continuity. Uh, I understand, you know, why you might think that. That's not the case. So it's the same LLC. Everything you've paid for continues to persist. All the same services. Everything else is just under the DAG umbrella instead of with Laughlin.

Um, thoughts on this? Go ahead. >> You ain't got to do nothing. >> That's right. Yeah. Try to make it easy. Uh, there's a couple articles I guess that came out that David Sched said that, you know, if XRP was going to be $100, it would have already been there and buy billionaires would be buying it aggressively. Look, uh, if the investors truly believed in $100 XRP, billionaires would already be buying it aggressively. I know some billionaires that are literally. So, um, yeah, David, I'll say this about David. One, he has conflicts of interest, right? And you want to watch what people do, not what they say. So, for him to be >> launch on the board. >> Yeah, that's what I'm saying. He just launched a treasury company for XRP. If he didn't think it was going to be a significantly higher price and be successful, why would he do that? He wouldn't. Also, David sold 40,000 ETH at a dollar. Love him, but that probably was the most expensive roof or solar panel roof that anybody has ever put on their house for the price appreciation of that ETH that he lost out on. So, I I think, you know, he's done some things and said some things to be able to like have plausible deniability on a bunch of stuff and and maybe he's even talking his book, right? Wealthy people talk their book. Jamie Diamond was saying Bitcoin was rat poison while he was buying it through the OTC desk. You want to watch what people are doing, not necessarily what they're saying. And I'm not saying that David is nefarious. I've talked to him. I will say David is extremely intelligent and if he needed to make sure that conflicts of interest weren't there, he's going to come out and publicly state things that may be in opposite of what he actually believes in order to be able to orchestrate that narrative to make sure that he's not held liable or has any issues, right? Uh, and they've got me over here talking about the crazy high prices so they don't have to.

Um, Grateful Heart says, "Where do you get the level of information and most importantly education?" Honestly, Grateful Heart, YouTube. YouTube is a fantastic search engine. If I want to know anything about anything, uh, between the LLMs, ChatGPT, uh, Gemini, Grok, and YouTube, uh, you can pretty much learn anything you want. So, the information is out there. Um, you are going to have to, you know, weed out the noise. Uh, also talking to high-level professionals that have been doing whatever they've been doing for 20, 30, 40 years. That's invaluable. You're going to get wisdom and expertise from those people that you're just not going to get anywhere else. You kind of also have to take what they say with a grain of salt because they do it how it's been done. They're not doing it how it will be done, right? So, you kind of have to have both. You need exposure to where the world's going, how that's going to work, and then you take those inferences and apply it to the information that you get from really credible sources that have been doing it for an extended period of time. Um, that's how I've done it. Um, and I try to continually expose myself to both of those things so that I'm making the best, most informed decisions. Um, I wish I could say like here's a step-by-step process and the 15 videos that you need to watch on YouTube and like here's access to this person to talk about these things, but that's always going to be very dependent on, you know, what exactly information and knowledge you're trying to acquire.

Um, mod conversations were awesome this week and carbon 23. Glad to hear that. Uh, we have something going on almost every single day of the week depending on what, uh, level you're in here in the

group. If you're in the highest group, there's literally a call every single day uh that you could get on.

Um, BC 2001 says, "Down the road, when we need additional entities, CC Corp, additional LLC's, etc., do we do this through DAG or do we need to find another solution? Asking because the plan was to use Laughlin to do all this?"

We will do all of that. Um, if you haven't had the chance, I would go watch the video that I created on the website. Um, it talks about the long-term estate planning. Many of a lot of stuff you're talking about here, uh, whether that is the irrevocable trust, the revocable trust, the CC Corp, additional LLC's to hold assets. We have the ability to spin up all those things, maintain the corporate veil, create bank accounts, um, and make this as large or as broad as you want it to go. Uh, or as small and finite as you want it to be. Everybody has different aspirations and different needs for things. Uh, ideally, over the long term, in the app, you'll be able to type in, say, "Hey, you know, this is what I'm thinking about doing. What's the corporate structure look like?" And it would say, "Da da da da. Here's the cost. You know, do you want to proceed?" Type thing, and we'll be able to do that, right? And ideally, like I said earlier, we get to a point where we manage the assets on our side and it's just an AUM fee that you pay each year and you get, you know, access to the whole enchilada and whatever portions you need or don't need, you know, come out of that cost. Um, that's the long-term vision for it. As it sits today, each one of those are peacemeal. Uh, but um, that's the long-term vision. It is one unified application where you can tell it what you want it to do. Uh, it'll assess the situation, provide feedback based on case law, taxes, other stuff, and then help you direct that appropriately to make the best choices. Uh, and obviously, we'll still have estate planners and CPAs and, um, you know, tax attorneys and and all the other fun stuff on the back end if you want to have oversight and verification that you're making the right decisions.

Um, Old Row says, "How will the Clarity Act going through show people all the NDAs?"

Nope. Once Ripple has to get to 20% escrow, then all the XRP will show moving to institutions. So, the Clarity Act will be part of a supply shock. Uh, that's an interesting way to look at it. Um, it's still just going to move to wallets on-chain. You're not going to see who owns those wallets unless they list that in XRP scan, which the exchanges do. You can see which exchanges own what wallets. But I'm sure that there's wallets that the exchanges own that aren't listed under their name. I can guarantee that, actually. So until those are disclosed on an open public ledger for who owns that, you're still going to have no idea who those NDAs are worth or or with or like any of that stuff. And the 20% I agree with that. That's been an opposition that many people have had a long time. Um, they did it the right way in, in my assessment. So, I, I literally built out a full assessment on crypto companies of launching a token. The owners of the original founders of the network are not to maintain more than 20% of the total supply. That's what they gave to the original founders of the XRPL. Uh, and then since then, many of much of that has been sold off for different reasons. Uh, if you look on the XRP rich list, there's only six wallets that currently hold more than a billion XRP. Uh, it's like almost 10 billion in total that's held by those six wallets. Some of those are probably large institutions or other players. They want to diversify across multiple wallets. Uh, we've talked about that before. You know, I think that there might be a quarter million people on the planet that hold more than 3,000 XRP. It's really not that many people. Um, so all that being said, uh, I don't think that they'll ever disclose the NDAs. The only time that we were going to get the explicit, uh, disclosure of those NDAs within the SEC lawsuit. Um, you know, the SEC came after those and tried to get that made public, and the judge denied that. They didn't put that out. So the supply shock is going to be from demand, um, not from the orchestrated narrative that you had here, in my opinion. Right? This is just my opinion.

Um, C says, "Can price appreciation without these specific announcements? You're not giving me really much information on specific announcements. Not sure exactly what you're asking."

Um, KT Baby says, "Do you have a PO box for people who want to send you a trophy you had spoken about or even little gifts for you and the tea lady?"

Uh, we do. Um, if, uh, if you want to email us, info@digitalfamilyfamilyoff.io, um, they'll get it up to us and then we can kind of make that decision.

Um, Compass Point says, "Jake and Max, you guys are amazing visionaries. Thank you for all your hard work. We appreciate you so much."

Thank you, man. I appreciate you being here and being part of the group and for the kind words. Uh, again, none of this is possible without you guys. If we didn't have a great community of people that wanted these products and resources and solutions that we're creating, uh, none of it matters. So,

Um, LJ says, "Is the DWP IRA product with Arch? It's with Arch Public, not Arch Lending, uh, available to Australians with self-managed super funds?"

>> Yes. Yeah, you could absolutely uh use that algorithmic trading product inside of your self-managed super fund there at DWP. Uh, but it's again with Arch Public, not Arch Lending.

Um, let's see here. "OCC rule for banks to custody crypto becomes effective on 4/1. Can this be a potential catalyst for XRP adoption acceleration?"

Uh, I think so. Uh, it's also odd to me that, you know, Uphold's reward program ends on the 31st. Um, you know, we've got another week and a half, we got 10 days here until 4/1. So, we'll see what happens. Um, could they drag this out another 10 days? Sure. Uh, but, you know, with Evernorth launching here, you got Flare going live with their yield. There's there's a lot of things culminating right here for the end of this month. And for that to also be the date that they can start holding crypto on their balance sheet, that's a that's a big deal. So, you know, take it, take it with a grain of salt. Make your own informed decisions. Uh, but seems to be like things are moving forward here respective of the Clarity Act.

Perpetual Student says, "Are you looking at doing some sort of micro family office, virtual business office? If so, would things like business credit cards be forwarded to us? Any suggestions for things we can do to generate capital on our bag if we aren't accredited? If I, I have heard if you aren't accredited on DAG, just provides anchorage custody OTC purchase access. Is that true?"

That's accurate as of today. Uh, the yield product that we're bringing to market will be available to all clients there. Um, and over time, we want to move to an SMA infrastructure where you do not have to be accredited to participate. However, I think by the time we get to that point, all of our clients will be accredited. Um, we will be building some sort of virtual learning library and modules people can access to learn specific topics. Um, I mean, we have a huge repository of conversations that I've already had. Um, and we could probably leverage AI to build some type of course material or library. I know Max has been working on a bunch of that stuff in the background. Max does a bunch of stuff that you guys like and even myself. Every single day, I'm blown away. He, he is Max is a maker. Okay. I'm, I'm more of a, a manager. Like my calendar is filled with meetings most days. If, if Max is left alone, he creates incredible stuff and then he just needs a little bit of help to get it across the line. Um, but yeah, that's, those are definitely all the things that we're working on. That's the vision for this deal. We want people to have access to again, if you made your money in crypto, we want to become the digital wealth platform that everybody uses to be able to get access to everything. The conduit.

Um, any chance of opening an office in Miami or Miami Beach?

Uh, we're looking at Florida. We have a bunch of people in Tampa and also they're in South Beach. So, at some point, uh, the answer to that is yes.

Um, all right. We'll go all the way to the bottom. Uh, my wife says she wants Orlando, uh, because she wants to go to, uh, theme parks that are there.

Riz the Biz says, "Solo 401k would be a huge addition to the Roth IRA for DWP clients with LLCs. Anchorage cannot custody it yet. Much higher contribution limits and no income threshold."

Uh, so we're talking about that. Believe me, that's one of the things that Connor is pushing on. Um, we can also do SE IAS which have a $75,000 limit. So, um, if you want to look at that, you could fund a SE IRA, but the, the Roth, uh, solo 401k, uh, would be fantastic and, um, it is something that we're looking to do. There, there's still some legislation that needs to be codified around, uh, managers and other institutions, uh, using 401ks to invest in crypto. And we're also looking at potentially lobbying on that. Uh, just pretty expensive to do it. So, trying to figure out best path forward.

Um, I am instructional design. I create learning all day. Cool. Grand Rising. Um, might have a conversation with you.

Holistic Doc says, "Great meeting you in Nashville. Looking forward to the next one. Grateful for the space and the wealth of knowledge. Thank you for sharing all of it with us."

Absolutely. You guys were awesome. Uh, that was one of the first pictures of the night there. So, I was still fresh. Uh, I had a really good time at the Nashville event. Thank you guys for coming out. Uh, blessed to see all the people and, uh, hopefully you got to make some meaningful relationships with people in your area there. That's the whole point.

Magic Mike. Wow, that's an aggressive profile pic. He says, "Can you touch on Flare a little bit? I'm not in the know and I'm trying to grasp a concept. Thank you."

So, uh, F assets are just reflections or mirrors of the underlying asset. So, they get locked on whatever blockchain, uh, the asset resides on. They then mirror that value on their network. They don't issue a new token. So that's great because there's no tax implications because it's basically like a direct representation of that value on another network. Um, you can then take that asset and put it to work in different DeFi protocols that they have or opportunities that they have in their ecosystem to generate returns. There is smart contract risk that could be hacked. It's not insured. There's, there's a bunch of stuff that goes along with that that we're looking to fortify and create solutions for. Um, but I, I'm really excited about Hugo and Flare and everything that those guys are doing over there. I think they're doing great work. Um, and that, that will be fruitful over the long term.

Five Night Connor says, "Tinfall hat. The Great Comet will be its brightest on April 3rd."

BG123 shows a comet or shooting star in the post. It's possible, you know. Uh, I will say, you know, billionaires use astrology. So, if there's something to that, I mean, the night sky has been a reoccurring theme in multiple posts from those types of accounts. Um, I'm looking at macro events. That's what I'm watching. So, I'm going to continue to do that. But maybe there's something to the astrology stuff as well. Again, tenfold hat. I, all that's icing on the cake for me.

Um, if Ripple says, "Any opinion or news on your end with Cororeium and Sologenic merging into Texas token?"

Bullish. I've not heard anything about that, so I'll have to go look it up. The, uh, Cororum and Sologenic, I, I received the airdrops for those a long time ago and I just swapped them for XRP. I really kind of stayed out of those ecosystems. There's other people in this group that have been like, like Ricky Bobby and his wife. Um, they, they're big on Sologenic and Cororium. Uh, so they're probably going to be much more educated on that topic than myself. I'd have to go research it to give you, uh, an opinion.

Hungry Wolf says, "Now that we know DWP is partnering with Ripple Prime, does that mean the DWP clients will have access to all the products that Ripple Prime offers, like BlackRock's Biddle Fund?"

Um, this is a pretty direct question. Uh, and unfortunately, until we have things across the line and I have a clear direction with that, I won't, I can't talk about it. Um, but like I said before, your imagination is probably not far from, you know, our, our, uh, outlook and, and what we're looking to do. This is a, Max is looking crazy in this picture here of him making an XRP cake. Um, you guys with the beams, that's wild.

Uh, with rising institutional adoption of blockchain settlement. Thank you, Izzy. He says, "The potential approval of XRP-based ETFs that would unlock major liquidity or even create a supply squeeze, the continued global expansion of Ripple's ODL products driving through utility in Japan emerging as a leading market for XRP. It's fair to ask, uh, whether the reverse car trade is truly necessary for all these powerful variables already in motion."

Um, it, it cannot be a gradual rise. Like I don't know how to explain that in a way. If, if the price doesn't gap up to a significantly higher price, it's never going to reach those levels. And if it doesn't reach those levels, it's never going to be used. So, there, there has to be a supply squeeze, a, a shock to the system, something that requires that to happen. Uh, and I'm still extremely confident the reverse carrier trade is that catalyst.

What do you think of the XRP memes?

Eh, that's not something I really dabble in. I will say that they'll likely get a bunch of liquidity on the other side of price appreciation for XRP. Do they appreciate the same amount of XRP? Do you have the same benefits as XRP? Probably not. Um, I don't own any. It's not anything that overly interests me, but I also missed out on Doge and Solana and SHIB and and a bunch of other stuff. Um, Peanut the Squirrel. You know, there was a lot of things that we could have got in early on that we just didn't because that's not part of our ethos. So, not to say that there won't be a ton of money made in the XRP meme coins. It's just not something that is on my, uh, balance sheet.

Um, the other ad says, "Wink once if you plan to massively hire on soon due to expected onboarding."

Uh, we, we have about 100 employees at this point. Um, we have enough to be able to handle the bandwidth. Uh, but we will need to, you know, create systems and solutions to be able to streamline that. We've already started working on those things. Uh, and if we do need to hire, we will continue to hire at an aggressive rate, but I think we're good for for now. There's the Bluey Cup. That's funny you guys like that.

Um, DIFF says, "After price appreciation, will you allow DWP to investors to defer a month's worth of AFM AUM until we can get the yield revenue to cover?"

We're talking about that. That's a big concern of mine is we do see a big jump in XRP's price and people don't have the cash to be able to cover the AUM fees. Uh, we're looking at a couple different solutions for that. And so, um, the answer is yes. We, we will find some solution to be able to defer those out until the assets themselves are able to cover that. And we may also provide incentives or discount, uh, for people that pay early. You know, uh, you may be able to lock in a lower rate or something if you are willing to cover those costs, uh, a little bit earlier versus waiting for the yield product to to pay them for you.

Cowboy Krypto says, "Is Max more on the road of Vincent Scott with the Clarity Act and PA and you're not? Where is the split there for you two?"

I'll let Max cover that. I can't hear. Discord's getting wild. >> I don't have a >> a big input on that. Just >> I think it is what it is. >> Yeah. >> I mean, Max, Max has worked in politics. Uh, I have not. So, he has perspectives there that I do not. And so, you know, when there is codified law or things in place, that absolutely does provide, you know, clarity on things and people are much more apt to use them. Um, but I think that innovations can cause, can be a catalyst for them to roll out legislation quickly also. We saw that during COVID, right? So, it can happen both ways. I don't understand what his beef is with me, to be honest with you. Like, the outcome that we're talking about is the same thing. Um, he's super smart, too. Like, I, he is very intelligent. I watched him talk about Trump and the geopolitical events and all these things. And I've always said that, piece for some reason, he's salty about what we do. I, I don't understand why. Uh, but the end result, whether hey, he's right or I'm right, I really, I mean, at the end of the day, I don't care because it's the same result for all of our clients in the space and the XRP family. So, you know, for whatever reason, people want to have differences of opinion and use that as a platform, that's fine. Um, but at the end, at the end of it, none of it matters, to be honest with you. If it happens his way or my way, like, it's still the same outcome. Um, obviously, I have my opinion. I've stuck to my guns. I believe it's going to transpire a certain direction. Uh, but I have no ill will against anybody that believes differently.

Hungry Wolf says, "Since the recent guidance by the C SEC came out with the classifying classification of digital commodities, do you think this is a last infinite stone needed for large scale institutional adoption?"

I think banks need to be able to hold crypto and so if 4/1 is the go-live for that date, that'll be the other opposition to banks holding crypto has been the volatility. David Schwartz said that, so it would need to be a high stable price for them to start holding it on their balance sheet come April 1st.

Regarding your comment about the supply shock needed, any reason behind quote quotations around "reason behind the floating 300 million for March"? Seemed unique.

Uh, yeah, they didn't put it out on the market. I believe it's still in the wallet there. I haven't double-checked that here recently, but as far as I'm aware, they did not put that out on the market.

Um, we'll grab one more and then we'll wrap it up here. What is this? Wanted for poking your eyes out. Yeah, that Bluey cup is dangerous. I don't know if you guys have ever, uh, tried to use that before or not, but it, it will poke your eye out if you're not drinking it the right way.

Um, do all the TSA issues occurring right now serve as an effect for adoption?

I don't understand the corollary there. If you could give him more context around that, maybe. I mean, it's just government funding and then, you know, people boycotting that and they have a union, so there's just a lot less agents, you know, working, uh, right now and that's what's causing, um, the frictions or the, the latency for you to be able to get through TSA. I just traveled and we really didn't have that much of a problem. Uh, we do have TSA PreCheck, you know, so it was a little bit faster, but even the regular boarding lines, uh, weren't that bad when we were going through there, but there was only one or two people working. So,

Um, I guess I'm going to go ahead and wrap it here. Again, appreciate you guys taking time out of your Saturday to come hang out with us in the town hall. As always, if you have any questions, comments, concerns, constructive criticism, please reach out to myself or the moderators. We want to provide you guys with as much value as we can. We'll keep you guys up to date on everything with the Ripple shares and all of that. Um, and yeah, if you have any questions, just reach out. Uh, I hope you all have a wonderful, wonderful weekend, a wonderful week, and we will see you on the next one.