Digital Asset Discussion - 04-25-2026

Can hear me over there in the chat? Very good. All right, let's get it going here. All right, morning. Morning. Morning. Happy Saturday. Hopefully your weekend is off to a good start. You had a good week, man. Oh, man. Uh, lots of developments this week that we'll go over this morning. Um, let a few more people filter in here before we get it kicked off.

As you guys know, normal format for this is we normally go over the deals, then we get into the macro, and then we will run down the questions at the end. Um, just a brief touch on a few things before we get going. Uh, this next week we will have our event there in Vegas. You guys are invited if you're in this community. Uh, we will be at the Palm uh at the Ghost Bar on Wednesday night from 7:30 until close. So excited for that. Excited for uh a lot of fun next week.

For those that are participating in Vegas, we will be there the whole week. Um, I won't be there after Wednesday night. I got to come back Thursday because my wife has a rodeo and I have to watch the horses and the kiddo. So um, but our team will be there uh for Bitcoin Vegas. They will be in and around. Uh, we sponsored Bitcoin or sorry XRP Vegas. They will be there for uh, we sponsored Bitcoin Vegas this year since the people at XRP Vegas wouldn't return our emails. Um, so we will be there and um, a couple different speaking slots. Bunch of side events and all kinds of fun stuff going on. So if you are going to be in Vegas, I'm sure you will be able to find plenty to do next week. Um, and again, excited to have that. Carbon 3 uh has another event separate of that.

Um, then we will be in Miami the following week for consensus. Uh, we do have another exclusive event that we've hosted in caret 2 and 3 uh where we'll have some pretty interesting speakers um, some high-level conversations going on there. Then we will be in and around the conference down there in Miami. So, if you're there, come by, say hi. Um, would love to talk to you. Uh, speaking at both of these.

And then the next week, we're off to Bermuda or Salt. We'll be launching uh our insurance product out there, which is exciting. Um, be the first ever fund for crypto. It is in Sally's and Spearhead's marketplace. Um, so for those that don't know, I'll kind of run over what that is. As you escalate up the wealth curve, there's more financial products and solutions that are available to you. Uh, one of those is private placement life insurance. I'm sure you guys have heard me talk about that and infinite banking and all the fun stuff you can do with it. Um, it's pretty regulated here domestically in the US and also in Canada. Offshore, we can we can structure PLI and you can contribute your assets in kind uh if you are in a foreign jurisdiction. Here domestically, they're pretty stringent that it's got to be cash that you contribute. Uh, but as you generate cash flow off your assets, if you want to borrow against them, there's a couple different ways you can get that money uh to be able to fund a PLI policy. Uh, but the cash you put in there grows tax-free inside that policy. So, and you can trade all kinds of stuff.

Um, if you do, you know, a bespoke policy, you still have to work with a manager. Um, it's got to it can't be under your control. There's got to be communications that show, you know, you can propose investments, but uh the financial advisor that you're working with um, you know, it's at their discretion on if they will deploy into that or not. Uh, no more than 55% of that policy can be made up of one single investment. There is look through. So, you know, what I originally thought I would do is like, you could do XRP for the big chunk of it and then maybe the XRP ETFs and like, you know, try to skirt around that rule. Unfortunately, it doesn't work that way. Uh, it it actually has to be a different product. Now, you could do Evernor because it's a treasury company. Uh, even though it's predicated and its balance sheet holds XRP, uh, because it is a for-profit enterprise separate of the investment itself, that would suffice. Um, still, it would still be scrutinized by the regulators. Uh, but I think that one would get through. But an ETF, it's a direct look through. You're you're not going to be able to use that inside of a private placement life insurance policy.

So, we are launching a fund that will be listed in a few marketplaces. The two marketplaces that are the largest ones for private placement life insurance are Spearhead, Sally's marketplace. They allow other people that have, you know, different types of funds or investments as long as they're structured within the compliance to be able to list those there. And then people that are, you know, putting money into PPLI, uh, they've got a marketplace where they can then deploy that and trade things and do what they're going to do in order to be able to generate tax-free returns inside that policy that you can borrow against. Again, back to the infinite banking piece. Um, and then there's, you know, there's a bunch of stuff that we've talked about. I think Carbon 2's had Carl, and then Carl also has another event. When's um Carl and Carson come in here and and chat once a week, don't they?

>> Yeah, they come in on Wednesday, I believe, 3:00 p.m. Central Standard Time.

>> Which which tiers is that afforded to?

>> Uh, they do it for the general. It's for the whole community.

>> Okay, cool. So, I I'd suggest, you know, if you want to learn more about insurance and structure and things, they talk about a lot of things in that, but um, you know, those are the be the people I would ask questions to. If you had, you know, policies you've already cut or things you're thinking about or how it's going to work with your state, that would be the time to ask those questions. Uh, so, without further ado,

>> They um go ahead.

>> Yeah, I was going to say they they do have their own channel, too. If you scroll down um in the general section, there's a there's a there's a form style for all the different services that they offer. They come in every Wednesday, so you can ask the questions live. Um, you can book a call on their schedule. They can review a policy. I think that this week that just passed, they actually reviewed the PPLI and the recordings are in the call recordings channel.

>> There you go. So, if you want to learn more about what I just talked about, that's where I would go. All right, we got enough people in here. People are still rolling in, but we'll go ahead and get into the deals. Um, we've closed the Uphold deal. I think we ended up around 335 for total investment. I have gone out to the brokers. I have one deal back at about twice as much as I was hoping for. The market is not liquid for Uphold shares. Uh, there are few a few sellers. So, as you can imagine, uh, it is a seller's market, just like when, you know, I talked about this last week, but if there's fewer homes, uh, than there are buyers, uh, then the seller kind of dictates, you know, where the price point's going to be, you know, and we were able to negotiate it down some, but one offer that I have on the table, uh, for 320, $318,000 is $180 per share. Uh, that would put the valuation of the company around a half a billion. Um, which I still think there's there's a lot of upside there. You know, we were hoping that uh the market would be trading lower than that. Notice.com, you know, there's been a couple different times I've presented that to my brokers and they are like, I don't know where they're getting this data from, but it is, you know, about half of where the market really is trading. Um, so I'm going to have to go back to those guys and figure out, you know, where they're actually getting that from. But uh, all that being said, you know, if we saw Uphold go public at the same price or close to what we've seen Coinbase and Gemini go public at, you know, 23 billion, that's still a pretty significant return in a short period of time. I do expect that uh Uphold, Kraken, and maybe some other exchanges will likely go public in the next 12 months. So, um, we got that. I'm going to continue to press the other brokers and see if we can get a better deal. Uh, the the the trades that I've seen out in the market um, the larger trades, I have seen some execute below that. Um, you know, there was a $5 million trade at at $155. Uh, there was a $2 million trade at $160. Uh, there's a million dollar trade at $1.70. And then uh, there was another trade that was half a million actually at $2. So, you know, we are around actually did pretty good to get us to $180 for the 300 grand or the 318 that we're going to be coming in with, you know, the more money you have to deploy, the more negotiating power you have. Um, and so that's where it currently sits, but we will continue to keep you guys updated. If we take that deal, we will make it uh known that that's the one we're taking. But again, I've got a couple more uh price points supposed to come back Monday, Tuesday this week uh before we sign which one we're going to take.

Um, Ripple still waiting on um updates from a lot of the uh investments that we've made. Um, I may just send out a communication this week just to let you guys know I haven't received communication from them yet. Give you an update on where I think they're at. Um, we've had a few people reach out about Intric Key and a few of the other deals that we've done here in the group just looking for updates for Q1. Um, so just I don't know why it's taking so long for everybody to get a Q1 update out. Uh, even Ripple hasn't sent out their Q1 update yet. Brad's normally pretty on top of that. And so, um, I know Sean did send his update out for uh Avidane. So, if you participated in those deals, you should have received an email. I'm sorry I missed it. Was up for Yeah, $180. We're still looking at New Beginnings. Um, you know, if I can get it lower than that through another broker, then we will proceed there. But if uh if that's the best price we can get, then that's the one I'm going to take. Um, so back to Sean. Yeah. So, he sent out an update for Avidane. So, if you've participated in any one of those three deals, you should have received an update here this past week on where that company sits and the progress.

Um, as far as Curve Point, um, Entry Key, Kraken, you know, all these other ones that we have done, uh, aside from Ripple, um, I'm hoping to have those updates this week. I wouldn't think they would push it past April for them to get a Q1 update out. If I don't have anything, I'm going to be chasing them. Um, and then also, you know, I'm just going to send something out, you know, based on what I'm seeing in the market and where things are at. So, that's where those are.

Um, we will continue to run additional deals here. Uh, I wanted to touch on something we're going to be, you know, putting forward more, which is the learn, do, teach model. Um, Mike has kind of put this together. A lot of people have done that with the estate planning. We want to cultivate people helping other people here in the community. If you have learned something and then you've done it and you want to be able to then teach it and help other people, um, that also shows that you actually understand everything. We want to apply that to a couple other avenues, you know. So, we've, you know, Future's an electrician. He's run deals uh for Abdane. We want to open that up to other people here in the community.

This is where I have concerns about this, but at the same time, I do want to foster people, you know, doing deals together. I've been a part of six separate masterminds now. The way that those end up burning and collapsing and people getting pissed off and mad is um, deals are allowed into the community that are ponzies or frauds or issues. Uh, anything that seems too good to be true is too good to be true. Okay. Um, I've I've got one right now that's in another group that's a forex trading deal that's paid 4% a month uh for 3 years and almost everybody in that group has decided to throw in on that thing. At some point, that's not going to end well. Um, now, are there people out there that can generate those types of returns? Absolutely. Uh, you have access to them with 100 grand? No, you do not. Uh, again, like I was talking about before, you know, the the elite hedge funds and people that are able to produce that those types of returns, they aren't accepting anything less than 10, 20, $50 million allocations. They're just not. Um, and a lot of times they're not taking any outside money because they've figured out something that is unique to the market and they're able to generate the returns and they don't want that to get out to anybody else because it's their secret sauce. I can't remember the name of the fund, but there was a fund in the '90s that actually raised additional capital and they had absurd returns uh produced so much that the 20% that they took ended up being over a billion dollars um in the early 2000s and then they returned everybody else's capital, kept running their own strategy and just ran it with their own money. So, you know, I've seen this play out multiple times.

Um, there was another one that collapsed here recently that was unfortunate. Um, that I I was aware of about a year and a half ago called the Goliath fund. Um, it was supposedly a USDC liquidity pool. Um, and there was a lot of the markers of just sketchy behavior. So they're paying 60% on this pool, which sounds great. And if if you are deploying into new pools consistently, you you could be generating that return. Like it's not that it's not impossible to generate that, just consistently to be able to pay that out becomes burdensome. So, the the pieces for me that caused me pause um, and then why I didn't bring it to you guys and really didn't suggest it for anybody else that brought it to me was they were petitioning other people to bring more people in and they were paying them a spiff on similar to an MLM. Um, there are some legitimate MLMs out there, okay? Mary Kay and a few others like they've they've done things the right way, but there is strong indication a lot of the time when it's an MLM that it is a Ponzi and the only way that they can continue to pay out returns is continue to get new people in. They'll incentivize people um and you know, pay them a spiff and if you bring in more people, you know, then you get a higher tiered return on things. Um, now, not to say that's always the case that that is a marker of a scam. Okay. Again, MLMs and tiered marketing and affiliate programs are done across the board. There are a lot of legitimate businesses that that use those practices, but anytime I see that, it causes me pause. Okay? And I I want to look deeper before I'm going to make a decision one way or the other.

Um, when I ask them how they were Kirk says, "Sounds like BTC." Um, the when I asked them how they were making the returns, they couldn't give me a good answer. They were just like, well, we you know, we deploy into early liquidity pools and you know, there's kind of this function where we're able to get in and out and we have this algorithm that shows you know which ones are going to be profitable. I'm like, are you audited? Can you show me the audited financials? And they were like, "Well, we're going through that process right now," which was a lie. That never happened. There was never any audited financials. Um, I'd say another marker of like if they're always m people are always making money, it's probably not legit. They're going to be times when your algorithm or trading or whatever, just market conditions shift and it no longer works. It works for a period of time and then conditions change if it's a high liquidity environment versus a low liquidity environment. Um, there's always going to be discrepancies in a market and and a lot of time you'll have to adapt your strategy or change things in order to continue to be profitable and produce returns and you're probably going to go through a period where there's a downturn in your portfolio for that whatever period it is. Any successful fund that I've seen that includes Bridgewater, Blackstone, any of them, there have been quarters where they have lost money and and they have to go to their LPs and say, "Hey, look, this is where we fell short. This is what we're doing to change it. This is what we see coming. This is why it's going to be profitable in the future." If there is a guarantee or consistent return of three, four, 5% per month, 99% of the time it is a Ponzi scheme. Okay. Um, now again, there are the few exceptions like the one that I mentioned earlier that just have a niche in the market where they're they found something that they can exploit and they take advantage of it and they hold it very proprietary and they don't necessarily want to show you what they're doing because it is proprietary and they don't want that to get out. Those are just nos for me. Okay. And as you're doing due diligence with all of these different opportunities that we're going to see here in the group in the future, we're going to try to keep this a tight-knit group. Make sure, you know, we got a lot of people in here. I don't think there's any malicious players. And that's the other reason we kind of want to just shut down things and make it invite only post price appreciation because this is how I've seen groups, you know, completely be dismantled and everybody lose faith and want to want to leave. Um, so I'm very careful with that. But again, I do want to foster, you know, people's ability to participate here and and raise uh capital for whatever they're doing or co-invest on stuff.

Sort of a serious question, you got enough to focus on. So simply, would you request your serious reconsideration so that I have been in in two of times number of masterminds there always some serious bad players.

Yeah, you know, and again, I'm not opening it up to a bunch of bad players. We we just need a system and process to review deals um before they're brought to the community. So, taking it back to what I was saying before, the learn, do, teach model. We're going to put some guide rails in place. Um, you know, we we want to work with a few people on a beta. Future's done a good job of the way that he's structured stuff. We want to have due diligence uh DDQs. So if you ever work at the family office, they will have a DDQ sheet and they will present that to whatever manager you know they are potentially investing in. They give them all the information. They show them their financials. They show the audited history. They do a bunch of different things in order for them to be able to pass that to their analyst for them to decide whether they're going to make an allocation or not. Um, so that's that's kind of the pro process and system that we're going to be working on to put together for you guys. Uh, and I think that'll be really helpful in the fact that you will then be able to see all the different things that you should really look at or consider before making an investment into anything in the future. A lot of times you are betting on the person, right? And and sometimes it's going to be difficult, even especially early stage stuff if there's not a track record. It's an idea. They're building a team. That's why angel investing is so risky. Most of the time you're going to lose your money. Uh, but every once in a while, you're going to hit it big and they are going to have an exit or they're going to get acquired and there'll be a significant return for you there. So.

Will you teach us how to evaluate deals safely?

That that's exactly what we're talking about here. Perpetual student.

And I was going to chime in for a second too. So I think the point we're trying to make is there's a lot of great people in this community and the example that we're using with Avidane is Future is an electrician and Avidane is a is a graphene technology that stands to change how conducting work right. So because Future is so knowledgeable on the field, he sees a product and he also sees how that product can revolutionize certain industries. So the connection of him him being experienced in what he does, but also having the knowledge of these are how you prop bet deals when something comes across his eye, he's like, oh, this is this is big, right? This is going to revolutionize certain industries and there's a lot of brilliant people in this community and a lot of people that want to learn. So if you have more people that have the ability to vet a good deal, you have a better chance on finding those uh diamonds hiding in the rough, right? Because the the statistics are you vet hundreds of deals to find one or two good ones. Well, if you if you have a handful of people who have been studying, learning and and and trying to understand how to vet a deal properly, you have a better chance on finding those deals, right? And then if you have a community together collectively working, it doesn't just have to be one person or another person. You can have multiple eyes uh reviewing it, discussing it, analyzing it, breaking it down. Um, and then collectively, like Jake was pointing out, well, then you can have a community that is like pretty success has a successful hit rate because we have such an extensive due diligence process. So the point is like with the learn, do, teach model, we want to utilize everybody here and the people that want to learn and then it'll also turn around and benefit those individuals that are a part of the model, right? If you're if you're a GP on a deal, if you're bringing these to the community, um, it's just it it just shows how a community can be scalable and working together if we have a little structure in place. And so this is just one example, but then obviously there's many more we can we can expand upon. So, we're just going to roll out the structure to get it started. Um, and then just kind of have fun with it and see who's who's interested to go in different directions.

>> Yeah. And and we'll probably roll this curriculum out at Carbon 2 first. Uh, and then we will, you know, kind of beta it there and then we'll roll it out to the rest of the community over time. Uh, Bowser has asked about trading networks and AI algorithms. So, when we run a deal, we do two and 20. Most managers, that's that's how they do it. Okay. So, there's a 2% management fee per year. We don't charge the per year. We charge one time. Um, you use Syndicately and Syndicately does the back-end piece of it and we pay a piece to Syndicately so that it manages this manages the deal for multiple years. Um, but most of the time when you're working with a hedge fund manager or private equity firm or whoever, you're you're going to pay normally the buy-in's a million, 5 million, $10 million, $50 million. It just depends on who you're playing with and how much money they're raising. Um, they're going to be charging you annually 2% to manage that, similar to what we do over there, BWP. And then they have a carry. So a carry is the split that you're talking about here on the profits. So your initial investment is always back to you. And then any additional profit is where split happens. So, let's say you invested a million dollars on a private equity deal with a fund that's been successful. They've got a track record. You've done your due diligence. It's over a 10-year payback. So, most of these funds are illiquid for extended periods of time. They have, you know, like Mike was talking about, multiple analysts that are reviewing thousands of deals a year and they're going to take 20 positions, right? Um, they've got the DDQ. They've been doing this. They have an eye for who's going to be successful and who's not. Um, they're betting on a growing industry. You want to be in the right river, right? If you're going with the current of the river, you're probably going to make money. If you're going against the current, it's going to be a lot harder to make money. Um, so you want to be investing in growing sectors, things that are new opportunities with established players that have a track record. Um, so 80/20 split, you know, that's what we do on ours. We do 20% uh as our carry on the deals. That comes out of the profit when there's a liquidity event. Um, SPVs are what we do. So, it's just one single company and one single investment. We're not raising a venture capital or a private equity fund that's $100 million and then going out and researching all the companies and deploying that across it and have an aggregate total that's passed back. These are long-term investments if you're going to go that direction. Uh, the algorithmic trading that you're talking about is another way to structure that and I think that's going to become much more prevalent uh over, you know, the the coming decade as AI really moves into these tools and liquidity management and your ability to access liquidity becomes much becomes much greater. Um, the lockup period on this stuff is going to be far less. And yeah, there's claiming to do 8 to 10% a month. There are things again in the market if if you can find those discrepancies and exploit them and you're consistently changing your trading algorithm. Sure, that is possible, especially in crypto because it's so volatile. The problem is getting in and out of those positions when there's restricted liquidity. If we have a situation where Tether implodes, you know, and it's difficult for people to trade in and around that, um, it's going to be there going to be problems for all of those things. So, and those are the risks you're taking, right? So, just be aware of that. If you're escalating up the risk curve, it probably needs to be a very small portion of your portfolio that you're participating in that stuff with. Uh, you wouldn't, you know, the the guy that was in the Goliath fund, he's like, "I got all my money in this and it's the best thing ever." And I was like, "Dude, you should probably derisk and at least get your initial capital back out." And he's like, "No, it's working great." And I'm like, "Okay." Um, you know, you do you. I can't tell you what to do. It's not something for me, and I'm not going to put it in front of my clients. And then uh about 3 months ago, that guy was indicted by the BOJ for defrauding people of $384 million. So, just stuff like that. Um, you want to stay away from uh anything that's claiming that type of return in that short a period of time. You know what's been success, how I've been successful in investing, and I've made a lot of mistakes is after I make those mistakes, I then make rules for myself so that anytime in the future, if if if I'm breaking that rule, uh, I'm probably making a bad choice. Uh, one of those rules that I would I would share with you guys, uh, until you are at scale and have people working for you that are in multiple jurisdictions to be able to vet deals, probably don't invest in things outside the US. Uh, you have no recourse. There's no way to get that money back. Uh, the amount of money that you're going to have to spend to get that money back is going to be exponential. It's going to be 3 to 5 years in court uh, and a bunch of stuff. Uh, so unless it's, you know, 10, 20, $50 million, it's pretty much so like you're just, you're going to ride it off. Uh, so, you know, I don't do international investments that are going to be less than a certain amount. And if I am doing an international investment with somebody, they need a nexus here to the US. They need to own a property. They need to have bank accounts. They need to have a business here. There's got to be something here onshore that if something goes sideways, I can drag them to the US for a lawsuit. Um, so, you know, that's just one of the rules that I have in place. I've put other rules in place for myself. You know, when I'm looking at uh taking board seats or doing other things, you know, happy to share those with you guys. But rules make a big difference. So, if if your threshold is I'm not going to invest in anything that's going to do more than, you know, 3% a month, if it's saying it's doing more than that, that's that's a hard no. You just say no to those things and pass. And and you're going to miss out on some good opportunities. Okay? I'm not saying that these are the end all be all, but it's going to really narrow your focus and you're also not going to lose money the nine times out of 10 that you would have trying to play that game. And and on the other side of price appreciation, like I' I've said this many times, you should only have to get rich once. Uh, if you get rich once and you're able to put rules in place and guide rails and make sure that there's capital preservation and you are steward of that capital, you know, maybe you're rolling 1%. Maybe that's your rule. I never invest more than 1% on anything that does more than this per month, right? Like that way you still have some exposure. You have a way that you can take a risk if you need to. And look, I mean, that's an asymmetric bet. There's huge gains there. It's going to double in three years, you know, like that's the type of stuff that you would you'd be doing. I mean, you guys have figured it out. You know, if you're here, like you have found the opportunity in crypto. You get it. You're gonna make a bunch of money. And I am I just know that there are going to be people that don't set these hard limits for themselves and roll it all again or make bad choices and end up in a bad spot. And again, I I don't want this community to become a um an avenue for those types of opportunities. So, we'll probably put guidelines in on, you know, different different things depending on the type of investment. If it's outside these parameters and it's presented as such, it's probably a no, you know, uh, and we it's a slippery slope disclosing those to the community because then the bad actors are going to have the ability to see those rules and then curate their presentation to be able to meet them. So, um, anyway, all that being said, you know, we'll probably have, uh, a public DDQ that we put out and then we'll have some additional rules in the background that are just guide rails for us that will help us make determinations.

>> Yeah, and just I want to so yeah, there's a couple questions somebody asked like the difference on XRP. Well, there's a difference between technology and innovation than investing in a in a private slash soon to go public company, right? So, if you're running businesses, they're constantly evolving, changing, advancing um in different avenues. And that's why we're talking specifically about vetting deals. When it comes to a revolutionary technology that stands to revolutionize and change a 100-year-old banking system, I think we could all agree that's a very different metric. And what we're trying to do is prepare everybody moving forward. We we already understand the fundamentals of XRP and cryptocurrency and what is going on, but uh switching the focus to be more education-based and moving forward, there's a lot of opportunities that if we start paying attention now, you're going to be better positioned to capitalize on those opportunities when they present themselves. So that's kind of why we're trying to implement a better learning strategy um rather it just kind of switching up a little bit, right? Because I think we've all been here for an extended period of time and the best way to utilize our time is is time management and and efficiency and trying to just make the most of it, right? Everybody has a different knowledge base. We can all really work together and teach each other. And by building that community, you just have the foundation that it there's a lot that we can do together, right? If you're if you're going to make money and then go out in the world and be a lone wolf, you can do that. But the chances of you being successful or continuing to be successful is highly unlikely rather than if we work together, we have much greater opportunity. So just cultivating that environment, that mindset um and just kind of keeping it growing and expanding upon it.

>> 100%. Uh, Gina has asked if DAG and the advisors there will be providing this type of guidance. Absolutely. So, this is going to we want to again span the spectrum here. There's going to be many people that just say, "Hey, I want to be passive. I don't want to be looking at all this stuff and understanding all these things. I want a curated group of people that are going to do this for me. I'm willing to pay for that." And and that's that's one way to go about it. There's going to be other people that want to be involved in some capacity, right? They they want to look at things. They want to bring opportunities. They want to have conversations. Um, they still want, you know, a lot of the decision-making to be done by their advisors and people that have the experience. Awesome. Here in the community. You know, I I think that there are going to be some people that are entrepreneurial, that are a matriarch or patriarch that's younger, that have certain expertise that want to, you know, really drive things forward and be I don't want to say that lone wolf like um Mike was just talking about, but you know, if you have other people you can bounce ideas off of, you still might be able to escalate up the risk curve a little bit and still make good decisions. Um, and not any one of not any one of these ways is right or wrong. And it's probably going to be a blend for most people, right? Uh, cuz you you've worked in a certain industry, you probably have certain credentials or expertise that allow you to discern where the good opportunities in that industry are. And if you see an opportunity, you want to participate in that. You're willing to take a flyer on it. But again, you don't want to do it at the detriment of potentially losing everything again. And that's really, you know, Kevin Olirri, he talks about, you know, I don't billions of dollars. I don't know what Kevin's worth. Um, but no more than 20% of his portfolio is ever invested in one single uh investment or or sorry sector. And no more than 5% of his total portfolio is one single investment. Um, and and that's the way to maintain wealth over extended time frames. Creation creating wealth. How did he make his money? He put all of his focus, resources, and capital into one business that they exited for $10 billion back in the day. Him and his partners. Okay. Has Kevin made a bunch of money since then? Ah, he's kept up with inflation. And if you listen to him talk, I mean, he is very conservative on how he's invested that money. He took a lot of risk as an entrepreneur. Uh, and then once he made the money, he's been very conservative to, you know, maintain that status. And that's what I'm hoping the transition here will be. Again, I'm not saying to take, you know, your XRP allocation down to 20%. I think that that's going to be like US treasuries in the future. And again, if you listen to a lot of smart people, they're going to tell you US Treasury is the safest thing, right? You should have a war chest. Your your 510 million base should just be stacked in in treasuries because it produces a small yield. I think XRP is going to be in the same boat. And I think there's going to be a lot of opportunities to leverage that XRP in some capacity or participate in certain ecosystems that generate a very sustainable low-risk um maybe maybe at some point even guaranteed yield depending on where the market goes and all the things that are at our disposal. So the lion share of your wealth will probably be there for an extended period of time. But as your wealth continues to compound and grow, you likely want to diversify across different sectors. Um, take advantage of other opportunities, you know, continue to mitigate risk and structure it the right way. And that's that's what we're here to help people learn, uh, do and teach. So, um, we are a little bit over on the deals. Do we have anything else specific to the Uphold deal or uh the other deals that we've talked about?

Um >> um not that I'm aware of. Uh uh did we close the deal for Mangro?

>> Uh, let me look here. I know Future was going to re uh invite a bunch of people um cuz we ended up just doing one deal for Mangrove uh and I think the total was right about 100 grand um for everybody that wanted to invest in that. So let me pull it up here. Currently.

>> Yeah, I believe that's the only deal that's that's open if I'm my understanding is correct.

>> Currently still at 65,000 here on Syndicately. Um, oh, should I even say this? We haven't signed the commercial contract with them yet. I'm going to hold back. We might be changing our banking partner over there on uh Syndicately to somebody that you guys know, like, and love. Um, currently negotiating some commercials on that and I think that that'll provide uh some additional utility where you might be able to even you know, hold or trade or invest with your crypto uh into private equity deals. Um, so working on that uh and that's part of the update that I'll send out for Syndicately. Many people did participate in that early on. Uh, we're also in active conversations with a broker dealer uh and a tokenization platform to be able to scale this and create primary and secondary markets tokenized here in the US. Um, and it would be on your favorite network. So uh, really excited about that and again um providing people an update uh in this next week for Q1. They're on Syndicately alongside the other investments that people have made.

Um, all right. So, that's where we're at on the deals. Uh, again, we'll keep you guys posted as we build out the DDQ. Um, and we'll, you know, kind of curate some course material around that, provide that to Carbon 2, and then we will disseminate that to the rest of the group, uh, over time.

Um, Finding Freedom says, "Have you have any thoughts on doing a headcount in the town hall, providing a survey or link for people who want to join in two or three as soon as price appreciation happens so you can staff up or consider resources to accommodate as many people as possible, you know?"

Well, if so, if this question is in direction to the strategy that we're discussing, the model that we're building is specifically designed to be able to scale. Um, so if we're talking about the learn, do, teach model separate from obviously the businesses, but yeah, we're we're building things designed to be able to structure to to work at growth. Part of part of the allure and maybe that's not the right word, part part of the benefit on those two groups, at least the perceived benefit that I have received from the people participating is the exclusivity, is the intimate conversations, is the, you know, direct connection and and curated stuff. Um, so we may we'll probably limit the number of people that can participate in those tiers. Uh, we will again, I don't know the exact piece of this. We're still working through it. I appreciate you bringing it up because it it's a constant conflict for me because again, our whole mission here is to help a million people become financially free and we want to provide the entire group a lot of of value. Um, and so but we also have people that that pay more for the additional benefits that are received in those tiers. Um, so just got to walk that line, you know. Um, when I mean Carbon 2 is much larger than it's ever been at this point. Um, and then we created Carbon 3, which we had before, but really kind of opened that up uh a little bit further to those that have been in Carbon 2 for at least 6 months. Um, in order to be able to, you know, and and that one's primarily focused on family office. We're starting with, you know, mission statement, core values, principles, code of ethics, how to build all that stuff out. Uh, and then there'll be other additional pieces in Carbon 3 that are, you know, curated to family office and professionals um for each one of the verticals that you have within a family office. So um, you know, Carbon 2 is probably going to be more on due diligence and deal flow and those things. Uh, but again, we want to provide we want to help as many people as possible. So that's where I'm I'm caught in the catch 22 of, you know, the benefit that people perceive for being part of that and then also the other benefits and and the long-term vision for the the community.

Um, is there any way update price for Ripple if we're still looking at selling Ripple 13 and 6?

I'm not selling them right now, Posy Bear. Uh, the current trading price on the market is around 150. Um, we haven't seen Ripple kind of step in and start roofering. Normally after a tender offer, uh, it takes about a month or so to reestablish a floor on on the prices. Um, they just paid out that tender offer and we haven't received it quite yet uh, from equities in. As soon as we do, you know, we'll be working to pass those things back. Um, I know Future's already collecting um, the banking information from people. Uh, so as soon as he has uh that from people, we will be able to pass back the distribution. Uh, I'd expect, you know, sometime this week, later in the week, uh, we'll be able to get that back to people as long as we have their banking info. If you if you got an email from Future and you haven't sent him your banking information, we can't send you the money that you are owed. So um, please do that if if you haven't given it to him. I know that's an odd request. It's not like anybody can take money out of your bank account or do anything. We're literally taking that so that we can send you the proceeds off of these this last tender offer. And then if and when we do decide to sell 1, three, and six, I want it to be at least $200. Like I don't I don't think it's worth doing for less than that. Uh, that's where I expect the price floor to be uh after this tender offer. Ripple is going to be in Vegas next week. Sounds like they could be making some announcements. Um, I don't know, you know, what that will do to the price of the shares, but I'm I'm hoping that we have a bump here, um, before we, you know, push to sell those. If we don't get to that level, we will not be selling. You know, we want a really good return, uh, for the investors on those. Um, and so, you know, maybe they come out and announce IPO next week, and if that's the case, then we will go ahead and wait, you know, for the distribution on them. Um, we just we know that, you know, some people would like the cash now to buy more XRP or do other things with, but I also have to walk the line of being a

Fiduciary and thinking about the best price that we're going to get for those folks and the highest return. So, I'm trying to do my best on that. As of right now, we're not selling those until we can, you know, find figure out what the price floor is.

Um, and then but we do have the distribution coming back from this other tender offer. We do need the banking details in order to be able to send you guys um that money. Um Scrub Duster from Canada. So, I'm going to get into the macro real quick. Uh Digital Diva says, "Did we skip the macro?" No, we did not skip the macro. That's where we're headed. And then I'm going to jump to the questions at the end. So, Scrub Duster and some of the other people that have posted. Um you know, after call it 10:15, we'll probably spend 30 minutes on the macro. if you want to repost your question, I will I will knock them out.

All right, so on the macro side, um you know, things have kind of stagnated here. We really haven't seen, you know, with the whipsaw in the market, we had Trump um come out and, you know, say that there's a ceasefire and there's not a ceasefire and they're extending the ceasefire and uh the straight still shut down and now we got a blockade and now we don't. And so, uh, the most ships that have passed through in one single day has been 35. On the day that Trump said that, you know, there's not a blockade or there's not, uh, whatever anymore, there was some people that felt, you know, uh, risk risky and got through there. Uh, but since then, it's back to like four and five ships a day. So, very limited. Uh, supposedly there are mines in the straight of Hormuz. U, they're still threatening to cut the underwater sea cables and cause blackouts across that region. highly probable at this point that I think that is or going potentially going to occur. I think that Starlink has positioned themselves to be able to navigate that situation. And this is to illustrate the inefficiencies of underwater sea cables and promote Starlink.

Somebody had asked a little bit earlier, how is Elon able to continue to roll the dice and and keep doing good. Um Elon don't really care about the money. Um Elon and a few other people are very purposedriven. Um so maybe I just touch on this for a second. This is more philosophical. You really have to kind of decide what drives you. Um if you're purpose driven, the money is a byproduct. Uh I I view their I view four levels. It's kind of like Maslo's hierarchy of needs, but it's it's my version. So the first one's just survival, right? you know, water, food, shelter, uh, normal things that you need to live. A lot of people, that is what they strive to do. They don't ever get above that. And you could argue chicken or the egg, like cuz you're focused on that, is that all you're going to get or do you have to have that in order to be able to raise your head up and look at the next level? I think that's different for everybody. I can tell you when I started focusing on the higher levels, my life improved. Um, and so for me it was, you know, looking at the other ones above survival. And as long as I was focused on survival, that's all I got. Um, so the next one up is status. A lot of people want to keep up with the Joneses. You know, they they want to have the nice house, the nice car. You want to be able to go places on vacation and um look a certain way to the public eye, post things on Instagram, do that type of stuff. You know, again, not saying any one of these is wrong or right, and there are people at every level all across the world. Um some people, you know, focus on that and that's what you get. Um other people prioritize freedom, uh would be the next level up from there in my opinion. And that means you can go do, see, be with, do whatever you want when you want. Um, and some of those people, you know, they they don't own much. They actually don't have a whole lot of physical items. They're renting. Um, they make enough money to be able to travel the world and they're kind of murial. They move around. They're not um holed up in one place or, you know, tied down to certain assets. It's like you look at the guy that uh started Telegram worth about $20 billion. Um he owns nothing. He has no properties. He has uh no jet. He has none of that stuff. He just rents everything uh and travels around and and is wherever he wants to be with whoever he wants to be with. Um if that's your objective, you're probably not buying the houses and the cars and all that stuff. You just rent them when you need them. Um, and then the last one is purpose. And I mean, you you've seen Elon, he's sold off most of his houses. He's rolled everything back in on his business. Um, he's almost gone bankrupt three or four different times. Um, SpaceX, the first three rocket launches failed. He burnt through all of his money. Uh, he went to go raise outside capital. And if you listen to him tell the story, I mean, they closed like the day before Christmas. He was he had a week left of runway uh on their round and got enough money in to keep the the comp the company alive. Um Tesla sued by the SEC uh for what they were doing and almost went bankrupt during that lawsuit with them when he was working on PayPal. Um if you listen to that story before he partnered up with Peter Teal, he had a bunch of frictions and issues. So, you know, he's just skated by on the skin of his teeth multiple times in order to be able to get to the position he's in as one of the wealthiest people in the world. That's not for everybody. That is a very high stress thing to do. A lot of people do not make it. Um, and again, depending on which one of these tiers you want to be in, um, again, none of them are wrong or right. It's it's really a personal decision on which one you want to focus on. um you're going to play to that level. And so, you know, at some point, if freedom is your thing, need about 50 or 100 million. If you have 50 to $100 million and it's working for you and you don't own any homes or properties or physical items cuz you want to travel and be mural and do go and do whatever you want. Um, a couple million dollars a year is plenty enough to fly private, uh, rent nice places, travel, stay, you know, uh, rent Airbnbs, and do all that stuff and not be tied down to a property. Um, if you're purpose driven and you need hundred billion dollars or a trillion dollars to go to Mars, it's a little different story, right? Like there's there's some other stuff that plays into that. So, that all just depends on on what you want to do. And it's sorry to get philosophical, but I feel like that's a a big piece of helping people navigate things.

So, back to the macro. Um, we're still kind of down, you know, uh, I did walk watch blockchain backer yesterday and he feels like the indicators have shown that we have bottomed. Uh, fear and greed index is back up over 60. Um, which I don't feel that way. I feel like we're still in a of a a bare market, but maybe that's just my sentiment and take on on the the space. Uh maybe we have bottomed and we're going to skyrocket out of here and regulations are right around the corner and all the stuff that I've been talking about uh for a long time is finally going to manifest and play out here. Um which, you know, I'm pretty confident in. I feel like I wouldn't have bet scams again if I wasn't. Um but and he is back on Twitter now. I've seen him post a couple times. Um but all that being said, you know, the delay in the straight coming back online is going to force the hand. Uh we have a couple meetings coming up this week. We have the FOMC and we have the Bank of Japan uh making decisions on interest rates. You've got the OC and their guidance supposedly coming out May 1st. They're asking for comments. The banks have asked for a 60-day, you know, delay on that. I don't think that that's going to be approved. to think that potentially May 1st we could have full regulation by the OC and oversight on how the Genius Act is supposed to be employed by the banks and that gives them the green light to start m you know minting stable coins. You've already seen uh Morgan Stanley step in this week um and start tokenizing things and and talking about a stable coin. You had um Fidelity come out with FID uh last week. They have their stable coin. You're going to see more and more of these institutions issuing stable coins. I think they're going to end up on the XRPL on the EVM side chain. Um that has aggregated more uh stable coin volume than any other network in the past 12 months. It's like 1.3 billion um that the XRPL has aggregated. Buying share of that is obviously RLUSD continue to gain traction in the market um and being used by Ripple's clients and and other exchanges um growing their market cap. Um many large institutions and players are coming out talking about you know a lot of money $3 trillion or something being issued in stable coins in the next few years. I think it could happen a little faster than that as these companies or not companies but countries uh derisk from the US dollar and they're selling treasuries onto the market. We're going to need to be able to soak up those treasuries here domestically. And that's why I think you know we don't need the Clarity Act. We just need oversight from the OC. Uh you've also got uh futures for XRP going live uh on Coinbase also on May 1st. Uh big deal there. You know, obviously they're trading stocks and doing other things over there at Coinbase. So, you know, a lot of things happening in the market here. Uh we had the the Tether being frozen by Tether this week. So, you know, I I've said this before, but I think Tether got rolled into the US government in 2014 2015. uh and they are playing nice for now. Uh but that also shows that sanctions effectively can be imposed upon tether and that stable coin network. Uh if there are people looking to evade tension sanctions or have parked money there in on the premise that they are not going to be able to be sanctioned or their assets be frozen or issues happen, then all of those people are going to derisk from Tether. Now, I don't think you've started to see that happen. I haven't looked at Tether in their market cap, uh, or if it is depegged in any capacity. Let's pull that up real quick and take a look at it. Uh, Coin Tracker. Um, still hanging out at about a dollar. Uh, let me look at it on Coin Market Cap as that will show uh, where it actually is relative to the dollar. um it shows it right at a dollar. Uh so we haven't seen anything with volatility and this deep pegging yet. Um but um I would expect that here this week potentially again now that they have frozen uh that money and it is in correlation with Iran and Trump has come out and said that they are doing that. I feel like there has been some a lot of illicit activity that's gone on that chain and now people are going to realize that the US government has purview of that and that they can see that illicit activity and things are going to shift.

So the other thing that's interesting out there that I'll talk about is quantum proofing these networks. Um they've got a plan uh by 2028 um to quantum proof the XRPL. Um there was actually uh Intric Key came out with a piece that touched on that specific topic and Ripple's plan for that and how they're going to be looking to work with Ripple to help encrypt the XRPL. So that is a cool uh piece. You know, we made that investment knowing that they knew the Ripple team and that there could be some tangental benefit there. So excited to see how that works out. Um but the the real catalyst and the big um reason I'm watching this is Bitcoin's network. So the early wallets um they have proposed a couple different ways to basically upgrade the network and make it you know quantum proof. Um, they're talking about, you know, certain periods of time where if you don't move your Bitcoin out of a a non uh quantum wallet or quantum resistant wallet that they will um basically lock that Bitcoin. You won't be able to get to it anymore. Um, and if that's the case, you know, there's going to be a lot of Bitcoin that just gets locked up in these old wallets. Satoshi's wallets in particular would be in that group. Um, so I I still believe that you're going to see Satoshi's Bitcoin move and that could be during potential issues with Tether or the reverse carry trade, you know, in correlation with the stable coin stuff. I think there's going to be a lot of things that all culminate again at the perfect time to see FOMO and price appreciation on XRP to drive it to the levels it needs to be. So, um, blue dye test to find Satoshi. It could be, right? Uh, if if he knew that he wasn't going to be able to move that Bitcoin or access it or do anything with it and he's still around or somebody has access to those wallets, uh, and they do want to, you know, um, make sure that the blockchain itself is quantum resistant, uh, they would then move that Bitcoin, they would do something with it. So, have to see how all of that plays out. But many of these catalysts, these progressive technologies are all culminating and causing things to shift from the old paradigm that many many people have existed in both in crypto and tradi uh to where we're headed over the next 3 to 5 years. Um so those are all things that I'm watching on that side.

Oil continues to rise over there in Japan. Uh we did move back up and touch around 16,000 um on the uh yen versus oil. I think it came back down a little bit after that back into the 15. Yeah, about 15,000 15119 here. Um this week will be interesting. So if the Fed comes out and they hold, I think Japan will hold and things will continue to stay stable here until oil forces Japan to move. The wild card um would actually be if the US were to raise interest rates and with the current circumstances with the credit markets or the private credit funds and other things um that would be disastrous for that. But now that we have inflation from oil in our economy, it can't printing more money would do harm. Uh and and so maybe they do both. Maybe they raise interest rates, but they print more money. And that would be the way that they could do some QE, but strengthen the dollar. If and when they do that, uh, the dollar versus the yen. The dollar is going to go up in value against the yen, uh, which will then cause the yen to move north of 160, 161, 162, um, which is the threshold that I'm waiting for the Bank of Japan to have to react at. We are going to see um who's first. Is the FOMC first this week or is it Japan? Uh Japan's on the 28th which should be Monday uh evening uh or nighttime is when they will be making their move. Um FOMC A >> I believe Japan is first. >> Yeah. Well, yeah, the calendar shows here April 28th, 29th is the um the Fed's meeting. So, you're correct. Yeah, Japan is going to be the night of the 27th and then we will likely make our move on the 29th. So, if Japan just holds um and we move, they're going to have to react after that. If they both hold, uh, it's going to they're going to kick the can into May here or sorry, uh, yeah, into May. They don't have another FOMC meeting listed on their website here. Um, have a statement on the 6th and 7th of May. Uh, but I don't see an FOMC meeting until June, which is interesting. Um, so you know, watching things over the summer here, I feel like, uh, things are about to get wild. Something's got to give. Uh, with these circumstances there around the straight continue to persist, um, oil reserves that these c these countries have and the way that they're able to supplement stuff is going to fail. And the longer this drags out, the more um damage it's going to cause. And it's not just Japan, right? So India receives about uh 80% of their um oil from the straight hormuz. Uh many of the other economies there in the Middle East are going to lose a lot of money if they're not able to export their oil. They are currently at capacity on the amount of oil that they can store. They're starting to cap wells uh and shut production down because they don't have any more space to store the oil. And even if they open this radar hormuz, it's going to take time for the logistics uh to start flowing again. It's probably going to be a 3 to six month period before the global oil supply is back to where it was prior to that shutdown. And like I've said before, I think the damage is done uh on this. So, we're just waiting for the reaction of it. Sometimes that takes longer than you would like it to obviously. Uh and I do believe that is going to culminate in what we've been looking for. So that's where the macro is at.

Uh Luke, apparently there's going to be some disclosure around the UFO files also. U I don't know if that's going to happen toward, you know, July 4th this year. That's what the hearsay is. Uh >> yeah. Um, what are your thoughts on the photo around David Schwarz's comments? I don't know why everybody gets all worked up over David. David said almost multiple times in that tweet, he he didn't say never. He said it's he didn't say it's not going to happen. He just said like look like there's a lot of stuff that's crazy out there, but there and they're almost always right, but there are going to be some things that play out. He just didn't state that last piece, but he left the door open in his tweet for that. Um, so, um, before we move on to the questions, anything else on the macro side that you've seen out there this week that's worth commenting on Legacy? >> Um, not on the macro, no. But yeah, to comment on David Schwarz, I think he he promotes a higher level thinking, not face value. So most people take what he says for what it is, not promoting the thought. So I I I would encourage people to kind of dive into like you were saying, just dive more into what he's saying and not just take it for face value. >> Well, he David one is a cryptographer and two likes to instigate debate and and get people riled up. He derives enjoyment from that. I've seen him do it multiple times. So again, when when you're looking at his tweets and if it gives you a visceral response and you're upset, I I think he also wants to cultivate people looking inward and like trying to figure out, you know, their own personal emotions about things. Look, I'm not saying, you know, anybody is a stonewall and is impermeable and always stoic about things. Um, but if you have a visceral response to things, if you if you look at why that is, you'll probably uncover some things about yourself. Uh, that'll make you a better person. One, but two, um, back to what I was saying, like he left the door open there for that to play out. He just said, you know, almost always they're wrong. Not never. Like, not that it's never going to happen. Um, all right. Uh, yeah, there's a a big billboard spotted off the coast of Miami there. Ripple, uh, is going to be at Consensus. Uh, like I said, we may have some pretty cool people speaking at our event there with Canary Capital and 3IIQ and the other stuff that we are we've sponsored, uh, for F1. Um, and we also have Arch uh, Lending is also sponsoring the event that we're going to have in Vegas next week. Ripple is going to be in Vegas next week. I'm sure that they will have a booth there. Uh they are speaking. I think Bitwise is also speaking. Zbeck is also speaking uh at XRP Vegas. Um again, unfortunately, I won't be able to be there this year. Uh we'll be at Bitcoin Vegas and we'll be there through Wednesday night. Um so for those that are attending, uh if you want to come to our event, we would love to have you. Um, last year they did gift that, you know, uh, giant skull to the Bitcoin community. Uh, I don't know if you guys remember that or not, but maybe that's an omen. I don't know. Put your Tfold hat on for a second. Um, maybe they knew that that this conference was going to be about this time this year and that was an omen of like death to Bitcoin. I don't know. again, probably reaching on that, but figured I would share that just as a, you know, piece of evidence or something to think about for the community. Uh, okay. Well, cool. Um, sounds like we're done with the macro. We'll go ahead and get into the questions here. Again, appreciate people taking time out of their Saturday to come hang out and ask these. Um, and again, if you asked a question further up in the chat above the barbecue post here for the Dallas meetup, uh, DFW Mike, uh, is going to be hosting that here in just a couple hours. If you're here local, uh, should be a good time over there. Uh, do a Diddy says, "Sorry, as you have probably listed this somewhere and I've overlooked it yet. Is there a set schedule for XRP Vegas? Would be great to connect with you and the team and other mastermind members, dates, locations?" We do have the Luma event hosted in the events channel I believe. Um, is that accurate, Mike? Or where are we? Why is this still here? Uh, Mike, do we have a I know that we have a an events page on the website that we are starting to use. Um and so looking to post all of the different mastermind events that are going to be going on in the different parts of the US there along with the ones that we are hosting. Uh we will try to get that up uh later this week. >> Yeah, we started so we started reaching out to the local events. Uh we're going to have to put some structure in place because it can't just be like send it and you know post it. But so we're going to try to maybe put something in place where it's like look if you're doing maybe just once a month it can't be in every other Um, and as long as you give us like, you know, it should be posted with enough time to to to plan an event. So, every 30 days, if you're going to do a different local event, we can put that posted. Um, if they're asking specifically about the Vegas event, I know there's a there's a there's a an event on the Luma specifically only for Carbon 3. Um, and then there is another event that I don't is that event is the evening event open to everybody or >> until we're full? We've got about 300 people patrons that we can have is the capacity there at the Ghost Bar. So, those that have registered, I'm not sure where we're at on the registration for that Luma. Uh, but that's a Luma event. It's first come, first serve. Um, you know, there'll probably be some people that show up. If you show up early, maybe you get in. Um, 68J's event is also that day, so there's going to be a lot of people that are there from noon to 6:00. Uh, I will be there. Mikl will be there. many other people will be at that location. Um, so, you know, would love to see you guys participating in that. Support him and all the other uh people that'll be there. Um, I don't know if he invited Zach to that or not. I know Caleb and Brown's going to be there. >> Well, and I also I know that if their question is because the question is kind of vague. the community itself. I think there is a Las Vegas channel in in their in the little marketing section where if the community itself wants a chat to like, you know, this is where we're going to be at, this is what's going on. I do believe there is a is a channel there for local meetup. >> Yeah. So, let's keep it, you know, for for now. If you're looking for an addendum or agenda, um let's keep it in the in the Vegas channel. Um, and people can chat back and forth on where they're going to be, you know, and have little side events and dinners and other stuff here in the group while they're in Vegas for for Bitcoin or XRP Vegas. Um, Rackety says, "So, you expect the OC to have everything finalized for May 1st. So, we should see some action in that first week if they don't give the 60-day extension." Uh, I don't know, Rackety. Uh, I just know that that's what needs to be in place for them to allow the reverse carry trade to unwind. uh and the dates interesting. So if we see some action this week in the markets um and they've provided that guidance that goes into effect on May 1st or you know it's late in the week before we see maybe Japan I'm just going to play through a scenario. Okay, I'm not saying this is how it's going to play out or anything like that. This is just if I wanted to put my T-fold hat on to make it happen that week, right? uh Japan holds, Fed raises, causes problems, Japan has to come back out with an emergency re meeting and raise rates. Uh they kick it to the weekend and then by Monday, you know, we see the reverse carry trade unwind at scale off of a Sunday evening and luckily May 1st is when that goes into effect and we would see, you know, them be able to issue stable coins and stabilize the bond market. That's a would be a beautiful scenario that would play out. Uh that Friday is actually May 1st. So that's Mayday. Uh you know, I don't know. Um they could give them an extension. They still haven't decided if they are going to or not. Uh so we'll see that this week if they're going to give them the 30-day extension or if they're going to tell them pack sand, too bad, so sad. May 1st is the day. You know, uh I don't know. There's a lot of variables that are dynamic and shifting. Um I'm just here to tell you guys what the variables are, right? timelines and specifics on when things are going to happen. Obviously, I'm not I'm not the best at. Uh, but I see the macro events, the certain things that need to be in place in order for those things to take place. And that's what I'm going to give you all. And you know, you can continue to watch those things and as it unfolds, you'll be able to watch it real time. Um, I did listen to Mickel's response. That's good. Um, here we go again. I created an LLC with my wife and I several times and I've heard you speak on there could be tax implications or as a single member. What kind of implications are there in an instance like that? So, uh let's say you did a partnership. Okay. Couple different things here to consider. Um in the DoddFrank Act, it was put out in 2010 under the Obama administration, there is an exemption for family offices um not to have to register as investment companies. So, between you and your spouse, even if it's a partnership between you and your spouse, you're going to fall under that exemption. Um, separately, if you and your buddy want to go into this and you guys are not related, uh, you will not follow in. You'll not fall into that exemption. So, if you guys are managing assets together, if you have a partnership, there's been a lot of people that have presented to us that they would like to pull things to get into institutional custody. You're going to have to register as an investment company. There's going to be all the compliance and all the stuff that you're going to have to uphold within that. it becomes much more stringent around how you're going to have to operate. So that that's one piece that I was looking through this week that I just wanted to bring to people's attention separately. Uh if you do a partnership with your spouse and you are not in a state that has a qualified joint venture exemption, um then there there could be tax implications. There could be good tax implications. So, um, when you're contributing to a single member LLC, you can list the assets at the cost basis on your contribution page. When you're contributing to a partnership uh equally or in whatever proportion you are, so if you both had XRP and you both put it in, um, if the the basis is different than the price in which you're contributing uh for your piece of the partnership, there would be tax implications on that difference. So, if they're long-term capital gains, you guys have held the crypto longer than a year and the price is down from where you bought it, uh you would actually lock in capital losses when contributing it to the LLC or the partnership. Uh if you uh have capital gains, you would then those would then be reflected. You're exchanging the XRP for equity uh both of you in that corporation. And you know, you would owe, you know, the 20% long-term capital gains on the difference when you purchased it and what value you put it in at. That's why we always recommend a single member LLC because you can contribute the assets at the basis, add your spouse as a manager. Uh, but there again are 15 states that are qualified joint venture exemption where you and your spouse can form a partnership with no tax implications um at the state level there. So, uh, just be aware of that. Um, you can go Google, you know, is my state that I live in a QJB state and it will come up. It'll tell you very quickly. Um, so again, you know, if you bought XRP last January at all time or at a very high and you were to go set the company up now where the price was down and you set up a partnership and you and your spouse weren't in a QJB state, you would actually lock in the capital losses, uh, and you could roll those forward against capital gains. So, it all just depends on, you know, what you're trying to accomplish, what benefits there are or detriments there are depending on if you're in pay tax or you be able to roll losses forward. Um, it might be advantageous to do it that way, but uh what we've set up through the app are always single member LLC's. Um, we could do partnerships and other stuff, but that'll come at a much later date. Right now, we're focused on streamlining the process that serves 80% of folks. Uh and then the you know 20% that's going to be outside of that scope uh we will be adding in uh as time goes on. Um uh X Force says love hearing your ideas for the future plans of offering cool things to us post price appreciation private jet charters yachts rentals island rentals etc more fun ideas. So, um, a guy asked me yesterday for my contacts on the jet rental side. Uh, we have multiple people, even some here in the group that run chartering businesses. Um, you know, I've passed their information to people. They will help you buy a jet. They will help you manage it. They will do the maintenance on it. They have a full program around that. Uh, you're part of a syndicate, so if your jet's down or in the shop, you know, you can use another jet. Um, there are other people like Mellin or NetJets or Millionaire uh that we have uh had conversations with. Uh I'm currently looking at Mellin. Um we just flew with them the other day. They had an 850e um that we took from New York to um Nantucket. I don't know if you guys have ever been to Nantucket or not, but it was not what I had expected. It's not like Timbuktu. It's actually very fancy. Very wealthy people live on the island of Nantucket. Um the house that we had dinner at is a is a $10 million home on 7 acres. Um it's very high-end real estate there on the island of Nucket. All that being said, we we absolutely do have uh Alistister uh does the yacht rentals and purchase and he's a broker. Um, and then Mellin is probably who we're looking at on the jet charters. Um, island rentals. Haven't found that one yet. I don't I have not met the right person that can rent you an island. Um, but I'm sure you know highlevel concier. Well, you know what? I take that back. Ray um Fleming if you guys want to go look him up. He works at Myria M y r i a um they are a high netw worth private concier's company. He used to manage um Justin Timberlake's family office eight about $8 billion and um he knows everybody uh over there in California. And he can do all kinds of things. It's not cheap. not cheap at all uh to be part of their syndicate and and their stuff. I think it's 30 or 35 grand a year on the low level. It escalates up if you want the highest tier um to be able to kind of curate specific events and other things for you and your spouse. I think it was like 150 grand a year uh to participate in their ecosystem. And they don't take everybody. They're very particular. Um you will you'll go to an event with them. uh if you are rude to the staff or the waiters or you know like act better than now they don't deal with egotistical people they will kick you out they do not have to deal with you um so you know that's not most of the people in this group I'm just telling you like it's really nice to see that even wealthy people want good quality people in their groups and they're not willing to put up with certain behaviors. Um, so yeah, definitely lots of fun ideas, you know, yachts in Monaco and other stuff postpric appreciation. We'll definitely be posting some really cool events.

When will investments be open to international residents like Uphold? Um, it's funny you mentioned Uphold and the investments for Syndicately. Um, one, a couple things. Um, we got to be able to accept a TIN number. If people will have a domestic LLC, we got to be able to take in international um information and have it structured the right way in the database. And um we really need a regggs function. They're on the platform right now. We do 506b and 506c regggd funds here in the US. Uh a regggs function. We actually had the paperwork drafted for that from our legal. uh they're mapping those documents and we are going to be able to build out that offering so that we can involve um you know international investors on those deals. The reason that you would probably want to do a reggg s versus a regggd and and again these are I don't want to say mistakes that we made early on but just things that I learned along the way reggg s make sure that you're not going to have that 30% withholding tax. Um, and so that's why we've done we've done some carveouts for the last couple Ripple deals where the reggg s is on the cap table of the regggd. Um, and we'll be able to flow that money back to the reggg s without the the tax implications. Um, the early deals that we did that we allowed international investors on, I'm still working through with our tax attorneys to figure out if there is a 30% withholding tax or not. Um, so again, like these are all laws here in the US that are a pain in the butt. I wish we could just accept international investors and they weren't going to do it with holding tax or this other stuff around it. Um, and that's again why you want to work with professionals and you know when you're bootstrapping stuff that's hard. Uh, but as we've scaled up and we have access to all of these highle attorneys and and great people, they're able to provide that expertise. So that's the avenue. Uh once we have a reggga function there on syndically uh we will open it up to the international uh investors.

Uh scrub duster has reposted this. I appreciate you doing that. He says hey Jake from Canada and just doing a lot of research on how to protect my assets when price appreciation happens but I'm still in the stacking phase so it's no rush and hoping DAG can get easier ways to work with those folks in Canada with Uphold. I know you suggest Aaron uh but in Canada there is a lot of talk of the Canadian tab about Blair Law Firm uh and was just curious if you've heard anything about them. I'd have any thoughts on towards them at this point. Thanks for sharing. I don't I don't know Blair. Um I'd love to meet him. If you go talk to them and you have a good experience, if you want to make an intro, that's how a lot of our connections have been made over the years. uh we have a client base or or people in the community uh or other influencers that reach out and say, "Hey, you know, I found this great contact. They do great work. We've sent them multiple people. It's a good relationship." Um and then there's been some other ones where that's happened and then they've ghosted people and caused problems. So, it's it's hard on the international front. Canada's a little bit closer than the other one. I could drive up Toron up to Toronto and punch Aaron in the mouth. you know, I know where he offices, that type of stuff, like I've talked about. You know, I like to meet people in person and know where I can find them if there's a problem. Um, so that's why we deal with him. Go ahead. >> Well, and I was going to say this is this is kind of to circle back just a little bit to the idea of like the learn, do, teach, right? Because wealth management, the concept of knowledge is universal. It it applies across borders. Each border is going to have slightly different jurisdictions, rules, regulations. But if you have a good fundamental foundation, you can interview people in your local jurisdiction and then bring them back for us to interview have discussions with to vet. But for us to go out into Canada and us to do the inound leg work, calling each and every you know qualified individual, it becomes a lot of leg work. So if the community starts working together and says, "Hey, I'm in Canada. We vetted five people. out of the five people, this is a good candidate, and we have discussions with them. I'm sure we can then make that work. >> Yeah. And I was just on a podcast with the CryptoCanadian podcast where they had a sponsor that was a tax guy. Um, I bet I can pull it up here. Let me see if I can find that. But they had uh connections in the UAE and domestically there in Canada. Um, and I got to circle back with them to see I just need to vet them. I haven't had enough conversations with them to know if if they're legit or not.

Um, all right. Bman says, "Am I correct in saying DWP uses their own personalized version of this algorithmic trading strategy from Arch Public uh the protocol or Oracle for their yield farming or return generating products?" So, they just have a trading product. It's not yield farming. Um, it's algorithmic trading. So, we have a proprietary formula just like you mentioned that's based off of four different time frames uh that trades XRP to aggregate more XRP. We could roll that out for the regular accounts that people have. The problem is you're going to be trading in and out of XRP and into a cash position and buying back at lower prices and then also scaling out on the way up. All of those things have tax implications in your LLC account or your personal account. Inside of the IRA where we've deployed it, you're either tax deferred or taxfree. So, you're able to compound your XRP um inside of that vehicle um without the tax implications each year. And so, therefore, at the end of it, you're going to be doing you're going to sit in a lot better position. Um so, uh and we are working on a program. I think we're gonna well need to finalize some stuff before I roll that out. There's a couple things this week that we're going to be launching for promotions uh over there at DWP and DAG um that I will make sure you guys are aware of, but I need to have full confirmation before I tell y'all.

Uh Hazmat K max K confirmed whether HAR can be entered into the IRA product. We don't have a proprietary trading algorithm on HAR, but we could launch that if enough people wanted it now that we have both HAR and XDC trading and custody there at Anchorage finally. That's definitely a possibility. So, uh we have access to their platform to build whatever we want. Um we're looking at the next thing is going to be a dollar cost averaging way to deploy capital. So, if you're going to set fresh cash over there, you know you want to buy, you know, you want it to be the cheapest possible at 20 bips, uh, we'll be able to average you into the market based on that trading algorithm to find the best price points over over that month. So, you know, we talk about dollar cost averaging and a lot of the time it's just shoot from the hip and hope you got a good spot. This will actually average you in at the lowest not the lowest possible point, but the lowest averaged point over a 30-day period deploying cash that way. Um, and if there's a big fall, they're going to dump the majority of the cash in for you. Um, and we could do that across, you know, whatever cryptos you wanted. That's the next thing we're working on over there because we have a lot of people that do put, you know, 50, hundred grand, you know, couple couple thousand, $10,000, whatever they're going to invest in, they send it over to Anchorage and they buy through that because it's the cheapest way to do it. And if we had a way to be able to deploy that and get you the best price over the period, um, I think that's a good product for people. But yeah, if you want to do the IRA product again, we're going to have a real cool special coming out for that here in the next week or so. So if you want to go ahead and start those conversations with DWP, we would love to have them with you.

Uh perpetual student says for XRP to be categorized as a tier one or tier 2 tier one asset of two things would have to happen. One, XRP would need to function as a tokenized traditional asset or a crypto asset with an effective stabilization mechanism tied to traditional assets plus legal enforceable settlement finality, strong governance or supervised entities around insurance, redemption and settlement. Um, yeah, it would it would need a designation which it already does have as a commodity. Gold is also a tier one asset which is also a commodity and gold is also volatile. So all the things that you mentioned here, I don't know that every single one of them is is correct. However, I will say um the 90 90% of that is um I I think it needs to be a high stable value before they're going to give it that designation and it does need to be backed by capital flows across markets. So, if that's what you're saying with that, then yes. Or to revise the Basil rule or BIS rules themselves to create a new category that allows certain digital assets to receive tier one treatment. Again, XRP is a commodity, so it falls under the same provisions as gold does. And gold is already a tier one asset designated by the BIS in 2019. If you It's

It looks like you got that from ChatGPT, uh, or or Grok, or one of the other LLMs. They're great. I'm not saying not to use the LLMs and ask them good questions like this, because it is a good question. They're only going to give you it's a best guess at stuff. They really don't have a deep understanding. You'd have to build a repository of case law and a lot of you like the real information out there, um, for your LLM in a skill or something else to get the best answers and for it to think critically through things, and it's still not going to give you a creative answer.

Um, it's not going to look at all the different avenues. It's just going to give you a visceral response based on what's currently out on the internet. I was going to say, it also sounds like they were asking the question if XRP would be a currency more than a tier one asset. So it sounds like the response they were giving was something different, potentially. Yeah. Again, how it's phrased matters a lot for the LLMs.

Um, Sof or Soflow Sam says, "Did some research on on Greg Kid for your advice, Fast Bank, and Uphold partner for yield." Was it the tea you wanted us to see? Yeah. Uh, that's good work. Uh, Sam, that was the tea I wanted you to see. Um, does X marks the spot? Is there a potential treasure treasury yield for our group? Uh, is there some good tea? Could you get us this before the G? I am working day and night to get you yield. Uh, Sam, believe me, uh, I had to move our Carbon 3 call yesterday to talk with G Treasury. So, um, yeah, working every way that I can to get you guys.

Yeah. And as as much as we would like to make things a little premature, it it has shown that that is not the most favorable response because if it doesn't happen exactly when people want it to. So if somebody is smart enough to listen, pay attention, do their own little homework, uh, you can kind of see the direction things are going. But yeah, it's become difficult to say things because then we get certain responses that are just not that great. And that's unfortunate because obviously we we'd like to be able to have conversations in the community, but um, yeah, we'll just kind of leave it like that.

Oh, but I will say, um, if you're trying to make the payment for the app, the button to to make that payment has been moved. You don't have to wait till your documentation is fully uploaded and complete. You should be able to process the payment early. Um, I don't know if we got a response back on the other part, Jake.

Oh, yeah. So, just on that topic, um, you know, we were going to run the promotion for everybody until Friday this week, but our team did not get that piece in the app updated until like Friday afternoon. So, that is available this weekend for people if you were having trouble uploading your documents or getting through the app to be able to get to the $700 to take advantage of the special. Uh, that is still around. So, and it's it's further forward in the process. You go ahead and pay and then we'll work through the logistics, you know, to make sure that you're locked in. and you got to take advantage of the promotion and our team will help you get the documents uploaded and get everything situated for you. So, uh, for those that you know were locked out or had some issues or some frictions there, um, we have made sure that that is still available for you.

Um, let's see. Professional student says, "What is your opinion on the possible debt or financial reset on May 26th? Do you think the government will use financial repercussions to resolve the US debt crisis? And if they do, how would that impact the reverse carry trade?" Uh, I haven't heard about May 26th. Again, maybe I'm ignorant on that. It's quite possible. Um, I've been a little bit out of the loop this week. I've had 12, 13 hour days most days on meetings, uh, from early in the morning till the afternoon. Um, and so I just haven't had the time to sit over there on Twitter and look at it. So, I'll I'll follow up on that and give you my thoughts, but I don't have any currently.

Um, what are your thoughts on possible SpaceX IPO? That's definitely going to happen. Uh, they've already filed their S1. Um, so that's going to be a big deal when it does. I think it'll be the first ever trillion-dollar company to go public at a trillion-dollar valuation, which would be awesome.

Um, will there be more SPVs for Vast? Vast was a one-time deal. Um, that is the only time that Jed Maleb is going to raise capital for that company and we were very lucky to get in on that. We raised about $1.3 million to put in on Vast. Um, that is their Series A. Uh, the reason that they had to do that is their partners required that it couldn't just be Jed as the only counterparty on their cap table. Uh, some of those are public and private entities that they're working with and they required that they raise some money. So he raised a $2 billion valuation for VAST. Uh, and I think that will be the only allocation that's ever out there. I I'd love to be wrong. If we see another one or another opportunity, then we will definitely bring it to the group, but as far as they told us, that's going to be a one-time uh, onetime deal.

Um, are there any prospective SPDs being put together for data centers? Yes. Um, so it's funny. It all kind of comes full circle. You know, I've been talking about them leveraging Bitcoin's infrastructure for data centers for a long time. Uh, the group that we know that's in Arkansas, uh, that's been running, you know, Bitcoin mining stuff, they're pivoting to data centers with their infrastructure. So, we're already starting to see that take place. Um, I think that that has been part of the plan the whole time to build out that infrastructure and allow those to be pivoted to data centers or compute. um, because we are far short on the AI side and the amount of data centers that were would be required for the level of compute needed to facilitate that at scale. Um, and all of those are built right next to um, the substations right to be able to kind of direct energy uh, and take that off the grid or add it back onto the grid.

So, um, I think that Bitcoin miners might be, you know, I don't think I would have ever said this 3 years ago, but Bitcoin miners might be a good investment right now. um, if if they see where the puck is going and they're starting to pivot their infrastructure toward a data center or ability to have decentralized compute for AI. Um, the ASICs and and how they currently use those, they're etched in a specific way for solving the Bitcoin algorithm and mining Bitcoin. They would have to change out a lot of stuff uh, that's been put that direction. a lot of the Ethereum mining infrastructure was repurposed for AI when they move to proof of stake. So, um, you know, maybe Bitcoin will migrate to proof of stake to become quantum resistant. Uh, maybe it implodes on itself. I don't know what's going to happen to Bitcoin, but I do think that a lot of that infrastructure is going to be repurposed for data centers and that would actually probably double the capacity that we currently have. uh, maybe more than that um, for AI. So, um, that may be an interesting play. If we can find somebody that is doing that and they're rolling those up, um, an SPV for that would be very interesting.

Uh, dear dad says, uh, let's say Elon X Money was to disclose XRP use by the end of April. Could that ignite some supply shock similar to BlackRock ETF? Seems equally prestigious, hyper potential. Um, I mean, they're using Cross River Bank, which is a Ripple partner. You need you, you really can't use XRP until there's enough liquidity in it. There's not enough liquidity in XRP to be able to facilitate Cross River settlement and all the stuff they need it for. I mean, you you really need like a $50 XRP just to be able to do about 10% of the SWIFT network. Um, and that that so I'll share this with you guys. That's from a conversation that I had with somebody that heard that from Brad Garlinghouse himself.

So, um, all that being said, uh, I I think it could, but you got to have the ET the ETFs are going to be the way that rotate liquidity into XRP to be able to drive it to a price where then they can pile on. Um, so once it starts being used and all of these, you know, Bank of America X, uh, many others come out, there will be additional FOMO that continue to drive, uh, the price higher, uh, as there's less and less on the exchanges.

Um, Big Jay says, "Any updates on the stadium event in November? Timing for official announcement." So, we've kicked the can on that, Big Jay. I appreciate you bringing it back up. Um, you know, we we started a little late uh, in getting sponsors for that and just with everything else that we've got going on this year, we decided to go ahead and move it to April uh, of 2027. So, um, you know, no WWE Raw fireworks uh, for me and Max until April uh, 2027. So, almost a year from today actually will be when that event is and we will definitely keep you guys updated um, as we have more news on it.

Um, Kirk says, "Uh, Jake, your thoughts on possible possibility of hybrid outcome where whereas you are right about the organic push of XRP to $750 to $1,000 and the crypto dude is right with the administrative repricing occurring post Clarity Act and thanks for your time." I I really don't think the Clarity Act is going to get passed this year. I don't think it matters. Uh, there's a lot of people that are hyping that up and saying that that's going to be the thing and it's I'd love to be wrong. I would love for him to be right and it just go straight to 10,000 bucks. Um, but you know I I I'm already way out on the curve here. Okay. Like I am I am attacked daily by other people in the XRP community about continuing to talk about these high prices. So I have look like could the government just come out and say it? Sure they could they the BIS could say hey XRP is now worth this much. Boom. It's not going to come from the Clarity Act. It's got to come from the BIS if that's going to happen. Um, so again, I don't think the Clarity Act matters at all uh, in this deal.

Um, the deal with the deal with gold, the reason that we were able to reprice gold in 1933 was we had the majority of it. Um, and so because we had oh, I don't remember if it was 70 or 80% of the total global supply of gold at the time. That's what allowed us to do that. We don't have that much of the XRP. A lot of that is escrowed by Ripple. Um, but even even Ripple can't do that because of the governance that's built into the network. So, you know, it's going to trade for whatever it's going to trade for on the secondary market. And that is going to be driven by price and demand and volume over the network. So, I don't know. Again, would love to be wrong on that. I have a pretty strong opinion uh, that my scenario is going to be what where it goes to and then you know there'll be additional demand and other things that drive supply shock to continue to push it higher to whatever price point they need it to facilitate derivatives. Um, but there is a potential that the BIS could just say, you know, the IMF takes uh, the escrow from Ripple and then they reprice it themselves. That's that's a possible outcome but it I don't think it'll be because of the Clarity Act.

And one thing I mentioned because this got this has been got brought up with the new um, I don't Phoenix crypto Phoenix I bring it around this point that that the the also the main that was different when when the government's re re repericed gold was that was prior to technology internet and the movement of information at the speed of light. I I don't think they're going to be able to do the same thing today with where we stand in technology. innovation um, and just the way the structure is. So it would need to be a mutual agreement with all parties. It wouldn't be as simple as you know, back then the United States was in full control. So whatever they said it goes.

There's more of a level playing field today and especially what XRP is is positioned to do. So, but again, if enough people decide to start using it, which it seems like all those agreements are already in place, the value would instantly start transmitting onto the network, which would equal the value that needs to be, etc., etc. So, yeah, I don't think we're going to see a repurposing we saw in the past.

Yeah, again, I I tend to agree with that. Um, again, would love to be wrong. I like if they could just pump the price where you know we all win. Um, they could also take the XRP from you if they can do that too though. Like that's the that's the whole premise of what happened with the gold. Uh, and there's been a lot of people that have talked about that too. XRP cannot be frozen. It cannot be clawed back. There is no uh, access to the origin wallet. It's been black hole. So nobody could take it from you. Now, could they persecute you or cause tax implications or do other stuff to either drive you out of the US or make you turn it over? Sure. Uh, but I don't think they care. I think there's enough XRP that the governments and institutions all have their piece and they've used retail uh, to be able to drive the price where they need it to go. And the other piece I will say on this is that's only going to affect the public retail. If you have your assets in a corporation, they can't take the XRP from the corporations. So, if if if you're at all worried about that, moving your assets into a corporation uh, is a very strong safeguard because they're not going to take it from Google, Apple, IBM, all the other people, Ripple, uh, that need to use it to facilitate their business. And so and there was also the Shane Ellis theory that was put out early on around the same time as Robbie Mitchnik and XRP.

Uh, and really you see a supply shock. Uh, prime example is what we were just discussing with Uphold. Great great company um, low liquidity. Not many people want to sell, right? Why? Because they know the direction that things are going. And so once you see a supply a supply shock with XRP, you get the Shane Ellis theory which which all kind of correlates with all the other different discussions. And if you look at what we're seeing playing out right now with ETFs, treasury companies, um, all the different metrics that are taking place, you're you're witnessing the supply shock in real time. The only difference is is it hasn't reflected in the price yet till uh, and Max actually just put out a great video on this. Until movers go to the market to make purchases and realize there's there there is no liquidity. So, we're watching it all play out. And we talked about this a couple weeks ago, too. Who's the largest buyers of the XRP ETFs on the market?

Goldman. Goldman Sachs, right? Exactly. So, and who who is going to be settlement of uh, the DTCCRP. So, it's all there. If if you look at, you know, if you if you can silence the noise and just look at the information and what's at play, you kind of start to see how this all plays out.

Yep. Uh, there's another good question that person mentioned or asked about here when I was talking about the QJV exemption earlier. So again, kind of circling back, you and your spouse um, get that exemption. If you have brothers and sisters that want to participate um, in in a pooled vehicle, that's called a family limited partnership. Um, a family limited partnership um, can have tax implications. Um, but you're you're also get some protections there. Also, uh, the other thing I would say, so there was uh, I don't know if you guys watched my video on on the billionaire and how he manages his family. Um, I think John was his name. He uh, sold um, a it wasn't that he had gifted uh, his children equity in a software company at the bottom of the market in '08. And then as that company appreciated uh, he had, you know, all of them at 20%. He has four kids and himself. When they sold that company for a billion dollars, he took his 20% and paid the taxes on it for everybody and then they got left with the rest of that money um, in their estate. So, you know, you could probably try to orchestrate something similar with your siblings um, at a low valuation on something. you could all own a percentage of a hold co. That's also the way that the Waltons run their business. So that the three of the richest people in the world are in the Walton family. Their holding company owns 19% of Walmart. Um, the children themselves all individually own like 1%. But they all have equity in the family limited partnership and the holding company that owns the 19%. and that's what's allowed that to continue to be perpetuated across multiple generations um, for for the change in ownership there. So if you want to structure something like that again, it's a little bit more complicated. It's a C corp, it's not an S corp. Um, so but yes, the answer is yeah, you can definitely do stuff with your brothers and sisters and I would actually advocate for that if you do get along with them because um, you will continue to operate under a family office exemption and not have to register as an investment company here in the US. Um, and you can work with us, you know, we can be your advisor so we provide advisory services to family offices as a multi-family office. Uh, we are fully regulated. We have to deal with the SEC and the compliance and all of that, but you want to stay as far away from that as you can if you're managing your own money uh, or the money of your family.

Uh, Corvette says, "Is there a way we can use AC to pay our dues for membership out of the Uphold business account until we get the cards in a little while?" Yeah. Uh, Mike, is that I think you should be able to I think you should be able to use Plaid and attach a bank account and be able to cover the cost there. I have to verify that with our team, but I believe so.

Yeah, I believe so. We were talking with um, Roy, one of the members in the community, and they were able to transact funds over there. So, I believe you should be able to. Yes. Uh, and if you're having trouble with that, just reach out to our support team and I'm sure they can they can help you uh, with things.

Uh, coming up on the hour here, but I'm going to try to get through some more of these. I'm at 10:20 for the last question here, so I'm probably not going to get to anything past 10:30 on the questions. Um, Crypto Karina, not Crypto Karen. Uh, she says, "I have my DAG account approved as of yesterday, but no bank account. What's the ETA and the process to get the business bank account? thanks for all that you do for us." So, there's been a couple people that have asked about that on the um infrastructure for Uphold. So, we are pushing them to go as fast as we can. They did not anticipate the amount of demand that we've had uh, in this short a period. They did not build out the processes that they had promised in their agreement with us. Uh, they have been very apologetic and they're working diligently in order to rectify that. Um, I appreciate the grace on it. Uh, I can assure you that you know within the next 7 days or the next five business days, we should have everybody processed uh, and people have should have a bank account uh, and a crypto exchange over there on the app.

Um, Sou Falls says, "I'm holding crypto for several family members and friends on the other side of price appreciation. Will I have any negative impacts or should I get the crypto to them as soon as possible?" Uh, there's a couple different ways you could go about this. I would talk to an estate planner uh, that's proficient with crypto. I'm just going to give you my visceral response if I was in your position. This isn't legal or tax advice. Um, if I don't know how much you have, if they're a larger position than you or a smaller position than you. If they're smaller positions than you, then you might be able to gift them equity out of your LLC post price appreciation um, for the amount that they contributed. And that would be a way that uh, you would have to give up some of your gift tax threshold in order to do that. If you want to if you wanted to go ahead and do that now, um, you could one set up a family limited partnership and do it that way or two uh, go ahead and create a single member LLC with all of it and then gift them whatever portion of the equity today at the current prices. If it's less than $18,000, you don't even have to report it on your 709. If it's over that amount, then you are going to have to file a 709 that's going to come out of your lifetime gift tax exemption. That would probably be the easiest way. And then also, you're going to be able to gift more of your assets and their assets out of tax out of the taxable estate of the LLC because now you're going to have minority minority owners on the cap table. And if you got a valuation done, if you get a 409A done and you're, you know, let's say the assets are worth 50 million bucks, you'd reduce that down to about 30 and you could gift a large majority of that out of your taxable estate uh, into a trust or do something later with it. So, um, again, I'm not the end-all be-all. I would go talk to a tax attorney. Uh, but they could help you navigate that. But my visceral response would be to one either form a family related partnership now while the price is low or two um, form a single member and then just gift them equity out of that corporation now before while the price is low so that you know as the price appreciates you're not having to deal with a bunch of lifetime gift tax exemption on your side.

Um, all right, appreciate you guys in Canada. Uh, good to see you, Kira. Um, we've got post-price appreciation. How do I pay for myself through my LLC? Write a check. So, Nancy, that's a great question. Um, depends on where you're located, but here domestically in the US, there's a couple things you have to do in order to file under an S-corp exemption. Um, one of those is to pay yourself a reasonable salary. So, you will need to pay self-employment tax or employment taxes on whatever that reasonable salary is. Um, under the eyes of the IRS, you know, you can do whatever you want here. You probably pay yourself like a half a million dollars a year. Just know you're going to owe a bunch of taxes on that for the W2 taxes. But when you go to apply for loans and things, like they like to look at solid W2 payments, and they look at that as like the ironclad standard for it. Um, you can also just pay yourself $50 to $70,000 a year and you owe the 13.5% employment tax on that. Um, and then the rest of it can be paid to you on a either monthly or quarterly distribution schedule. And you would define that in your operating agreement. Um, how often you're going to be taking dividends out. That would then be um, dividend payments, which isn't subject to the additional 13.5% tax, which includes Medicare, Medicaid, and Social Security. But that would be the way that you would you would structure payments to yourself and it is a um, pass-through entity. So all those taxes are going to flow to you. Um, but you can pay for things out of the LLC to be able to offset um, some of those tax implications. So, if you have a home office that you sit in and listen to these meetings, um, or do other stuff out of, review investments, have phone calls, um, you can write off, I believe it's up to 30% of your home. That includes the the taxes and interest on the house payment that you have and utilities. Um, you can use the Augusta rule. That's that's a separate deal. It does need to be like legitimate business transactions and and meetings that you're having using that rule. Those need to be documented. But there's a lot of things that you can do um, to be able to offset taxes using the LLC. Travel for education. You know, I'm going to Bermuda and I'm taking my wife and uh, we're going there for Mother's Day and um, she works in the business so we'll be able to write off the flights and the hotel and the food and all the stuff and enjoy some time together. So, um, you know, things like that. Um, you still get you have to spend the money on stuff. It's not like you just get to keep it tax-free, but you'd be able to offset some of your taxes that way. Um, but that's how I would orchestrate payments to myself is, you know, monthly or quarterly distributions aside from e uh, 50 to $70,000 a year that you would pay yourself if you have a C-corp. So, this is a separate deal for later on. Many of you will eventually need a corp that's a management company. Um, you could pay yourself $1, Bob. That is what Mark Zuckerberg pays himself. Um, and then you know, he obviously borrows against the equity of that company. You could borrow against the assets in that company tax-free and do other stuff with that uh, if you own the equity in it. So, bunch of different ways to leverage things post-price appreciation and you could do that out of the LLC also.

Um, LJ says, "Would DP product be available for Australians for self-managed super fund?" Yes, we can absolutely any retirement account globally, uh, we can absolutely put the algorithmic trading product on top of. So if you're interested in that, if you have a self-managed super fund, uh, please go reach out to our team. And again, um, we're going to have a really cool announcement uh, to be able to reduce fees uh, on the IAS uh, here in the near future.

Um, Fry the Salmon says, "Jake, new to the community and still trying to get acclimated. Super excited about the future of appreciation. Uh, what you and your team have built. Can you touch on the security that is currently on DAG's app where we can when we can expect 2FA? A little shy to add funds and assets to my account without 2FA." Uh, I think we have single sign-on. Yeah, usually the the app requires you to authenticate it with either um, a Google authentication app or some sort of 2FA at the moment of actually starting >> creating the account. So, it it's already on there. Um, over the long term, we do want to implement YubiKeys which have a biometric on them. Uh, we've already allocated uh, an allotment of 5,000 YubiKeys. Uh, we use those for our internal procedures with the company. We rolled that out across our advisors to be able to execute transactions, but we do want to roll that out to our clients also. Uh, as it sits today with most financial advisors, you just call them and tell you you want to execute a trade and they do it for you. Uh, we want to add additional provisions around that now that there's AI and people can replicate your voice and stuff. So, um, security is one of our highest priorities. Uh, we're working on our SOC 2 compliance and audit stuff for this year. um, restructuring the the database and a lot of the stuff that we have. Uh, we brought in an AI uh, expert to do that so that we can leverage AI on top of it and he's restructuring everything to make sure security is good alongside our CISO um, for all of that side because we are a financial company and there's a lot of requirements that's stringent on that stuff.

Uh, he hate me says, "Any deals for people who want to create a second entity?" Um, I'm not sure why you want to create a second entity. Uh, we've had some people in the past do a trading entity and a holding company. I just want to understand more about why you want to create a second entity. Uh, but it is still the same cost. It's just the $1,500 bucks and and you can take advantage of the first year renewal for $700 if you wanted to do it that way. And again, it would be a single member holding company out of Wyoming. It wouldn't be uh, something else.

Um, XRP Rekin says, >> "Well, and I was going to say I was going to say I know I know the team is in discussion on some of the other features." So, right now rolling it out, it's single member LLC only um, and and in the state of Wyoming. I know the team is in discussions to see about multi-member, international. So, a lot of these questions, they're great questions. We're posting them to the team and working on implementing them and expanding just so people know. But yeah, to the question, under certain circumstances, you might want a second entity, but it depends on the reasoning why. So, it would be good to just have a discussion about that prior to >> Yeah.

Um, all right. We're going to take a couple more and then we're going to wrap it up. We got AIS. He says, "Couldn't get on until now due to work. I have a question. Don't know if you was answered already. Been seeing news saying BOJ might hold rates. Do you think they'd surprise the world? It could uh raise rates. If they did, it's definitely going to set things off here again with um, stablecoin stuff looking like it's going to affect May 1st. That could absolutely happen. I could, you know, pontificate on if it's going to be the Fed that raises or Japan that raises or lowers or how this is going to work. If the if the US were to lower interest rates, um, it would cause more inflation. We're already pretty much at the cap, but that's really the only circumstance where Japan would see some relief because their currency would appreciate against our dollar. And they could probably kick the can a little further.

It says last month you participated in a panel sponsored by Sarah Sullivan and her company So Capital, Don Pendleton and a few panelists there. I'm getting email blasts from them. Next seminar is my choice. Not solicited blasts. What are your impressions of them as potential investment partners? Colton onward. Um, I like Sarah. Um, she's she's done well putting stuff together. Um, I'll say Max gets a weird feeling about her. I've met her in person a couple times. I don't plan on investing with her. Um, but I also haven't done a ton of due diligence. I've been focused on digital assets. She's primarily focused on real estate and some other opportunities. So, you know, take it with a grain of salt. If you want to unsubscribe from her stuff, unsubscribe from her stuff. Um, she was nice enough to, you know, have me up on the panel with them in front of her community and those people. Um, like I said, Max isn't normally wrong on his like visceral responses around people. I've yet to see him miss. Um, and so that was kind of it for me. Like I I tried, you know, I've gone against Max Avery a couple times on like, "No, this person's fine." And then it bit me in the ass. So I just, you know, we're we're amicable. Happy to work with her on stuff and and talk through things, but it's not something I'll be investing in uh, anytime in the near future. Um, and again, you know, if you're getting unsolicited stuff, I would just unsubscribe from it, and I apologize for any um, extra stuff there that you weren't planning on receiving.

All right, we're going to grab one more and then we'll wrap it here. Um, Mr. Luther says, "My understanding is the future futures market on oil is far off from the landed price in Japan. Will chickens have to come to roost?" Yes. Uh, I do believe that they will and uh, pretty confident that we're not going to be able to last a whole lot longer before they have to do something about it. Um, so yeah, that's going to be it for today. Again, I apologize I didn't get to all the questions. Appreciate people taking time out of their Saturday to come hang out. Again, if you want to go ahead and uh, take advantage of the $700, we're going to run that through the weekend. Log into the app. You can go ahead and pay and our team will work with you to get the documents uploaded if you've had an issue there. Uh, want to make sure that you guys are getting a ton of value here out of the community. Uh, so if you have any questions, comments, concerns, constructive criticism, please reach out to myself or the mods. Uh, excited to see everybody in Vegas next week. Uh, if you haven't found the Luma, um, I think it'll be posted in the Vegas channel there in the general chat. Um, and I'm sure that people will have other dinners and other things around XRP Vegas and Bitcoin Vegas. With that, hope you all have a wonderful weekend and we will see you on the next.