Transcription
Good. Let's see what we discuss this Monday morning for, uh, the digital asset discussions. Everybody's at. So, I'm, if you guys didn't, the app is supposed to be going live today, but I believe Jake tagged everybody. Um, the link is available, so if you're interested in going and getting started with that process, you can go ahead and get started now.
Kind of run through that, I'm sure. Yeah, Corvette. It's funny how I never have sound issues. I don't know why, but it's so funny. Like, I'll start these spaces and it just works. And, uh,
>> For you and not for me.
>> I don't know. It's so funny how that works. I don't know why.
>> We got Misfits recording.
>> Yes, sir.
>> All right. Morning. Happy Monday. We got Fry over here in the chat already with the coffee. Uh, cracked out. A lot of people revving it up this morning. Need a little go juice after the weekend. Um, hopefully your week is off to a good start. We got lots to run through this morning. Uh, you guys with the memes and the AI is wild, uh, in the chat. Y'all are, um, it, um.
All right. So, you know, we have seen oil jump, uh, back up around. Was at the high last night was about 16,500, uh, yen for per barrel. Uh, it's come back down a little bit. We're at 152 at this point. The yen still hovering around 160, a little bit shy of that at 1597. Um, gold and silver still trending sideways. The S&P up this morning on the news of Trump also blocking the strait. I, I'm not sure how this is re, like, why would the market go up on the Trump news of blocking the strait? Also, uh, it doesn't make sense to me, but it's working for whatever purpose they're, they're trying to accomplish.
Um, so, you know, a lot of back and forth here. Uh, I am waiting on, you know, a couple things that we talked about last week, potentially issues with underwater sea cables, uh, for blackouts or issues on that side. And then in addition to that, uh, if the US government starts to have some conjecture about sanctioning Tether, uh, and what that is inevitably going to cause, uh, for that token.
Evernorth, still no news on that on when that's going to go publicly live and, and finalize this back there. The S4 has been filed. Um, still just kind of in a holding pattern, unfortunately, hanging out. Uh, I did look at XRP scan for both of the amendments, both liquidity pools and borrow lending out at eight and seven. So, we've got, you know, one more validator has voted yay on those two, but we really haven't seen any additional traction, uh, out there between the different, um, UNL validators for pushing those forward. I think that they're waiting on an update for the network and potentially, um, a rewrite of another rule before they, you know, vote those on. I could be wrong about that. You probably want to follow Vet XO over there on Twitter if you don't already. Uh, he runs one of the UNL validators and keeps everybody up to date with what's going on there.
Um, trying to think if there's any other burning items out there. Really haven't had a whole lot of time to get on Twitter this morning. Uh, just been back-to-back meetings. Did a podcast with, uh, Digital Outlook, talked to Dave and Judy.
Um, oh, bond yields are at all-time, well, not an all-time high, but they are the highest they've been since 1997. Uh, over there on the 10-year, uh, we're currently sitting at about 2.5, 2.49. Where are we at here? Uh, JPY 10-year yield. We're at 2.47. Um, still climbing slowly. You know, I'm looking for a jump, you know, similar to what we saw in oil. If we saw, uh, a 20% jump in a single day on the yield, that's where things are going to get volatile. Um, if we continue to inch up like this, they could, you know, continue to kick the can. Uh, there is some conjecture out there that the US is going to be supplying, uh, all of Japan's oil needs somehow. Uh, Trump said that that was negotiated in the deal that he struck with their prime minister when she came over here, uh, earlier this year. So, not sure if, um, they are going to be able to, um, hold things off until the interest rate hike there, but it'll be interesting to see. The FM FOMC meeting is going to be the week before the interest rate hike. It looks like DOJ is going to be meeting on the 28th this month. So, uh, we've got some time between now and then. It's 15 days away and, uh, you guys have got me in the straighter horm moves blocking it. Uh, again, wild with the memes. Uh, appreciate, appreciate the, uh, vote of confidence there. Not quite that large, so I will not be blocking this straight.
Um, let's see here. Mike, anything else out there that you've seen of interest that you feel like we should comment on before we jump into some questions for people?
I can't hear Mike. Oh, he dropped and came back. He after he was just bragging that he doesn't have audio issues.
Um, um, well, we'll wait till Mike comes back.
Um, there he is. Well, still having issues.
Um, go ahead and grab some question. Why the delay? Lots of to this, but Iran secretly funded the city of London, British empirical system. Trump needs to completely dismantle the system. It's been a target for 40 plus years now. That's the delay in my opinion. You know, I think that there's a lot of things being coordinated behind the scenes. I think that there's still a couple more licenses that Ripple needs, uh, in order to facilitate their business at scale. You've got, um, you know, a lot of things unfolding here to drive demand for XRP as collateral. BIS here in Q2. Uh, other custodians launching things here in in Q2 and Q3.
Um, oh, everybody else said they could hear you, Mike. I just can't hear you. I'll drop down and come back.
There we go.
>> Yeah. Can you hear me now?
>> Yeah, now we're good.
>> All right, perfect. No. Yeah. So, I was gonna say I think there's some rumbles talking about the Clarity Act might be making some progress. So, that's interesting to see. And then, um, yeah, the straight her moves, I think was just an interesting play for sure, how they decided to turn around and say, "All right, well, I'll just block it and then they're red redirecting most of them to United States." So, yeah, you touched on that. That's pretty interesting move, that's for sure. Art of the negotiation.
>> Yeah. Trump's Trump's art of the deal. Uh, if you guys haven't read that book, um, yeah, Clarity Act, you know, I still, I'm not overly hopeful the Clarity Act to be honest with you guys. I know there's a lot of people that think we need to have that passed in order for the stuff to move forward here. I, I don't know that we're going to see that passed here in 2026. I, I do think that we're going to have alignment around stable coin yield and the Genius Act and what that looks like. Uh, but as far as clarity goes, uh, until it's, you know, really advantageous for them to regulate DeFi, there, there's just so many different components in that bill that I don't think are our congressmen and women aren't up to date on things and, and also the compliance needed to facilitate all this stuff on chain. Until we see the adoption of some of these major networks that have the compliance built in like the XRPL, like Hedera, like XLM, you're, you're not going to, you know, there's got to be enough liquidity and use on these networks and then I think they'll codify legislation. Legislation always tends to follow innovation.
Um, that's how the internet worked. That's how almost everything's worked. So, um, I do think that there will be a level playing field. You know, I think there's going to be a huge consolidation of these digital assets and networks once we see, you know, Tether have its issues in the not too distant future.
Um, and on the other side of that, uh, once we see some adoption, I think, you know, and the things become clear around how this stuff's going to function, then we'll, we'll get a Clarity Act or DeFi, uh, component passed. And I do think there's going to be two more bills that end up getting passed. I think there'll be something around clarity. And then beyond that, I think that we'll see something for DeFi. Uh, you've also got tax and insurance. Uh, those are two more considerations. When I interviewed the, um, president of the North American Blockchain Association, that's what he pointed to for late this year if the Clarity got passed. That's what they would be working on. So it's probably going to be 2027, I'd expect, before we get, uh, legislation around tax law, unless it's an executive order from Trump in some capacity.
Um, lots of people talking about the World Financial Liberty Financial Token deal. Again, I've never even looked at that or invested in it. There's been a lot of other people out there that have mentioned it over time.
Um, there was another company that Trump and his family invested in that's down like 90 something percent on the stock market.
Um, look, you win some, you lose some. Like we talk about all the time in this group, not everything's going to be a winner. You're going to pick some that look great and, and they don't end up working out. And just because somebody impressive is associated with something doesn't mean it's going to work out either. I mean, you, you could look at Polystein with Arthur Britto and David Schwartz and how that ended up going.
Um, you could look at, I don't want to give that one any publicity, but a few things that Bob Weey has been involved with. I, I have an incredible amount of respect for Bob Weey.
Um, and when he gets involved with something, you know, it, it brings a certain level of credibility and sometimes that doesn't work out. Uh, Greg Kidd has some misses also. He's got more wins than he has misses. But, you know, there's, there's always some risk. And even though you're going to see certain people associate themselves like the Trumps with certain things, uh, they're probably still going to be, you know, 6 out of 10, 7 out of 10. There's still going to be some of those that are not winners.
Um, dollar 12 says, "Can the Japanese raise rates? XRB be at $130 or would it get the price to be $100 then say, hey, XRP can be used?"
Um, I actually talked about this with Judy a little bit earlier on the podcast. So, you know, I thought when I first put out the domino theory that they would try to like ram all of this through in a very short window of time. This has been much more methodical than I had anticipated. You know, we had, uh, the Clarity or the, the Genius Act passed and then some time passed and then we had the ETFs come out and then we had some time pass. Uh, and it may have been flopped on that. I think the ETFs came out and then the Genius Act was passed and now we've had this radar Hermuz, you know, closed and some time has passed. It would not surprise me if they did, you know, drive demand on XRP to push it to a high enough valuation to start using it and then shortly after that, uh, we saw things unwind and the actual need for it. Could it happen during? Could it happen before? Could it happen after? I tend to think it needs to be before or during in order to get the rotation of liquidity to drive demand to the prices it needs to be. If they wait till after, a lot of that liquidity is going to be sucked out of markets and not available to be able to re rotate it. So, you know, again, this is just my best guess. I don't have a crystal ball.
Um, I'm, I'm talking through it real time with you guys, you know, as we're, we're going through this. So, you know, she asked me, "Are we going to go way down before we go way up?" That's also completely possible. Uh, I don't know what the volatility between here and there is going to look like.
Um, so, you know, again, and I've said that plenty of times before, I don't have a good answer. I just know what the long-term outcome is.
Uh, coffee, coffee is probably the one that posted the, uh, the meme with Fry. They say, "Hey, Jake. Uh, I'm a young professional. I'm looking for people in the community who would be great mentors. In university, we had a program where we could sign up and be assigned an upperclassman to work with and learn from. Thoughts on having some sort of internal program for the mastermind or if there's a chat existing I'm not aware of. Thank you for all that you do and thank you for the team." Couple people uploaded that.
>> Yeah. So, I'm Max, Max tagged me on that one. I was just responding. So, we're actually rolling out the new, we're calling, um, Master 2.0, you know, in which case we're, we have it structured where we're going to have mentors that are working with people that are going to go through the community.
Um, and we got side channels set up that is called learn, do, teach. So, we're going to be working with people more one-on-one or smaller groups to help educate them. So, then they can kind of help keep passing along the information.
Um, the structure is pretty much ready. We're testing it now on a test site so that way we don't break the mastermind first. But we should be able to, if all goes as planned, roll that out shortly. But we, we've already kind of started, um, I guess what you would call like a mentorship. So we have, I believe close to like 20, 20 people we're working with a little bit more personally just to make sure they kind of have the structure down pack and then obviously we can start scaling that to the whole community or to people that are interested. So, we, yeah, we're working on it. It's almost finished. Uh, but if somebody is interested, like coffee, if, if they want to, we can kind of start enrolling them in one of the pods that we have that will put them in more close contact with, um, the moderators and the upper tier, I guess you would say, upper tier members that we're, we're working with and then we'll kind of just start rolling that out. So, if they have a, a group of people that they want, as long as we can get them here in the mastermind, we'll, we'll start putting that together. And anybody that's interested, you can shoot me a DM or one of the other mods. Uh, Liners was taking a list and we'll start like rolling them into the pods and the groups that we've been working with.
>> Perfect. Love that. Yeah, we, you know, so again, like a lot of the benefit of being part of a community like this is you have people that you can help, you have people that are on the same level as you, and then you have people that are beyond you that can also kind of pull you up the ladder with you.
Um, you know, in the other groups that I've been a part of, that's always been a huge benefit on our side. And, um, you know, it's, it's helped me level up tremendously in a very short period of time how I think about things, uh, the paradigm that I operate in our business and, and much more on the investment side also.
Um, and if you don't have that, you fumble through and make your own mistakes and you eventually get there, it's just not quite as fast. So, you know, lean into the community. Uh, definitely chat with other people. And I'm, I'm really excited for the program that Mike's put together, uh, to be able to cultivate those relationships and help people, um, you know, get to where they need to be.
Uh, this is, uh, this person has a 589 lb bench press. Um, I used to be that big, you know. I, I remember like I talk to old men and they tell me, "Oh, I used to look like you and this that and the other." I really did used to be this big. I was about 260 lb.
Um, and I probably could have done, I think I, I don't think I ever could have benched 589 lbs, but maybe, you know, 500 for one, uh, at my biggest.
Um, let's see here. If he had a bench suit on, I would feel different about it, but he doesn't have a bench suit on.
Uh, we got the Riley meetup, uh, North Carolina on the 25th if you guys want to go to that. Uh, if you're in that area, excited to see people hosting those. And again, uh, work with people, you know, that are also already putting these together if you have an interest in that. If you want to meet other cool people and bring people together in your neck of the woods, um, it doesn't look like we have anything up in the north, uh, east, you know, um, around Washington, uh, and California. I don't see any of those sections on here. We got Wisconsin, Minnesota, and Iowa. We got Texas. We got North Carolina, South Carolina. Uh, you know, DC area with Virginia and Maryland, Florida, Utah, Nevada, Kansas, Missouri, Oklahoma, Arkansas.
Um, very cool to see all this built out. So, if you're in another area that isn't on this list and you want to help, you know, put together some local events and, uh, meet other cool people here in the group, just reach out and I'm sure the moderators can help, you know, direct you to the people that have been successful with that in the past. Want to continue to cultivate that here. I think that that's going to be part of one of the living legacies, no pun intended, um, that we leave, uh, with the mastermind is, you know, all the relationships that you're able to develop here and cultivate, um, and do business with and partner on and, you know, partner together on the philanthropic stuff, post-price appreciation. You want to cultivate those relationships now, before, you know, all the money shows up.
Um, Bunny Rabbit, what is your five-year vision for DAG?
So, uh, DAG, we're consolidating the whole brand to just DAG, um, here over the next, I don't know, 3, 4 months. Uh, the Digital Ascension Group, uh, in my mind, ends up becoming the, the platform or the engine that you use to manage, um, your digital life and your digital wealth. So, you know, you, you look at like a DAO type infrastructure. We want to create that for family office. We want, you know, private, secure, uh, AI agents that you're able to use to help manage your family office at scale, reduce cost and frictions, uh, and get better output and answers off of the proprietary data and, and the synthetic data that you're creating using deterministic AI. Uh, building out the governance inside your family office for, you know, the laws or rules that you set forth on when family members can participate, how, for what reasons, the, uh, investment pieces of the family office.
Um, and we want to be kind of the conduit that connects all the different custodians and exchanges and DeFi all in one unified application that makes it super simple for you to access that stuff, uh, real-time, you know, deploy capital, have an AI that sits over the top of all those different opportunities to be able to manage, you know, your strategy, uh, and what your family's looking to do.
So, you know, there's, there's kind of a dichotomy today. If you go work with an investment bank, they have, uh, SMA strategies, which is what we're trying to develop right now, which are single managed accounts, and you bucket people based on their, their time horizon, risk tolerance, you know, some different factors and conversations that you have, and there's certain strategies that you run. And that's really the, the most scalable way today in order to be able to manage, you know, thousands of clients.
Um, and you see this with other structured products. I mean, you look at Vanguard, you look at BlackRock, you look at, uh, Vanc, all these large players, uh, build out structured products and provide those to financial advisors and they manage a strategy inside of that. They're one of the options on their menu or they have multiple that they put out. You know, if you're Schwab, you're the marketplace for a lot of those and you have other people's on there and you have your own on there also.
We, we want to be more like the Schwab, right? But we also want to have our own proprietary AI, uh, that you guys will have access to that sits over that that based on your risk parameters and your family and all of it. It becomes very bespoke on how those allocations are going to be moving and what that capital is going to flow and transition based on tax implications and how your structures are set up because on the family office side, that's how all of that operates today. It's very bespoke. You know, if you've seen one family office, you've seen one family office because everything's curated and catered toward what's best for them and their family. And if you're on the investment bank side, yeah, there's reduced cost, but you're also getting a reduced, um, bespokeness to how your stuff's managed. We, we want to meet in the middle. We want to create a solution that allows you the most privacy and security.
Um, it has governance built in to however you want to run your family office. Same thing with investment thesis. Uh, but you still have access to, you know, a broader community of people and you're able to work within that ecosystem to be able to generate, you know, reduce costs and fees, you know, when you approach these institutions as a whole.
Um, so I don't know if that, you know, answers your question or not, but there's, you know, a lot of other things that we're working on that we will build out, but basically want to integrate the technology itself with the investments that you've made in order to get the full benefit of these networks.
Um, and create solutions that are really kind of first to market and global, um, so that everybody that has significant amounts of XRP or whatever the next digital asset is that appreciates, um, will have, you know, an easy, uh, bespoke solution that they can implement for their family at a very reasonable cost versus hiring professionals and sourcing those people and having to pay millions of dollars a year.
Um, wellager, uh, says, "Looking at code style used by Satoshi and code used by Britto, they share a lot of the same patterns. Code writers use many different prompt styles. So, the fact that these are close is interesting. I think people would be mind blown if they knew, uh, that the people that created XRP were also the people that created Bitcoin. I have, I have no doubt in my mind that they are the, the same group of individuals."
There's the five-year vision question.
Um, we are the Northeast chapter. There you go. Gen X, he's got the Northeast chapter over there. So if you are up there in the Northeast, and you want to, you know, meet other cool people that are here in the group in the community, I would encourage you to do that. I know a lot of people are introverted, kind of keep to yourself.
Um, look, these are your type of people. Uh, they, they have similar interests to you. Uh, they have similar experiences to you, and it's nice to be able to, you know, go talk to somebody about stuff like this without being looked at like you have a third eye.
Um, and people that get it, right? Uh, there you go. Uh, April 19th, we got the Delaware Meetup. Excited for that one.
Um, this person asked again, "Do I recall correctly, do you have visions for DDA to offer personalized email domains for members?"
Yes. So IT services. So, um, something that, you know, would streamline things a lot for us and for our clients would be if you had a domain associated with your corporation. And, you know, to make it a lot easier for you to get accounts other places. So right now, if you have a Gmail account associated with your business, one, you know, there's potentially issues with that if your Gmail gets hacked or, um, you know, there's spam, there's, there's a bunch of other stuff. And you might have other communications running through there or things that you've signed up for or whatever. If you have a domain and an email specifically for your business, you can keep it segregated for all the stuff that that's involved with and it's a, you know, streamlined line of communication versus the bombardment that you get from your other emails. It keeps it easy to search for stuff. It also would be one, you know, single login for everything on our side of the fence, and anything else that you're doing on the business side. So, just keep separation. And when you go to set up a bank account, often times they will ask you for your email address. And if you're putting in a Gmail address, um, they're, they're looking and they'll ask you for a website. What we, um, looking at for the website is, I'll post it over here in the chat. Ours won't be, uh, this fancy. Winkle Boss Capital.
Um, here we go. So, you know, the Wlvoss twins have a family office and they also make a bunch of investments. So, um, many people will just go onto their website and submit stuff. Most of the time, if you get a cold submitt on things, you're probably not going to invest in it. It's probably going to be crap. But every once in a while, somebody's going to send you some cool stuff that you might be interested in. So that's kind of the idea for the website. It's not like it's a functional business. You're going to be able to buy products or anything on there. It's just going to say a little bit about, you know, the types of businesses that you invest in and give people a contact us form for them to be able to submit stuff to you, uh, alongside the email.
Um, and that is coming in the not too distant future.
Uh, Shake and Bake says, "Are you still buying XRP?"
Um, I bought some more hash like we talked about the other day. I think that that's a good spot. Uh, threw another couple grand at that, but, um, yeah, still buying XRP, but I have discretionary income to do so.
Is DAG coming to Canada? Any chance if you talk to Aaron Grinhos about giving beyond beyond mastermind deal members package deal like you do is crazy expensive for a consult. Cheers, thanks for all that you do.
Um, Trina, I know that look. So I don't like talking. I'm not going to talk bad about anybody. Look, I, I am one of you guys, right? Like I am a customer of everything that we do. A lot of the attorneys that we've worked with over the years are attorneys. Uh, Aaron is one of those and they do fantastic work.
Um, and, and I don't think that they really understand that AI is going to completely disintermediate their business in the next 3 years. Uh, law, law firms and retainers and all this stuff. It's going to get, those that don't lean into this and start charging by the product versus the hour, uh, are going to get completely disintermediated. So, it's a huge transition. It's a paradigm shift from how that industry has operated the whole time.
Uh, but, you know, we will orchestrate partnerships, we will make acquisitions, we will do things to move into other jurisdictions.
Um, and Aaron has been a great resource for the Canadians that we've sent over there, but to your point, he's a little expensive and we definitely want to help people out.
Uh, post-price appreciation, you know, I think people can afford it, but that still doesn't mean that you want to pay through the nose when you could be paying, you know, a more reasonable price.
Um, Don Allin was with Jake says, "When the community is all signed up for the app, will there be a direct people 70 plus now? Not in Beyond Broke mastermind. Where will I direct people?"
Um, there. So, you can go ahead and share the app link. If you guys have people in your network that you, um, you know, want to share that with, we're going to be sharing it this evening on the live stream. But, you know, if they know you and you know them and they are good people, uh, you can go ahead and share that them the app link, uh, before the rest of the public gets it, just because they know you are here in the mastermind.
Uh, excited about that. Again, appreciate everybody that's joined on the app.
Um, it's posted in all the different channels. We put it out to you guys before we're going to go public with it later tonight. So again, uh, if you do have an LLC, uh, if you want to migrate that over there, um, if you haven't set one up yet and you're waiting on the, the cost to come down a little bit, you have that in there for you.
Uh, it is 100 bucks a month, uh, after you sign up, or you pay the $700 and that buys you the first year. It pays for the next renewal and the corporate veil and all the other services that we're, we're going to be launching through the application. So, you're going to have, um, many other things including debit and credit cards, money market accounts, uh, trust and will, um, and, and many other things. Again, this is like this portal and this application is what is eventually going to be what I just talked about for the five-year vision for DAG and what we're creating. So, those that are in from the beginning, you know, those that are loyal with us, we always take care of you. We're always going to add more value. Uh, we want to lock in prices and do different things to be able to structure stuff so that you always get benefits, uh, for those that take advantage early.
So, uh, again, I appreciate everybody. I do have to jump here, uh, cuz we're at the half hour. Uh, appreciate all the questions. Uh, hopefully you guys are getting value. As always, if you have any questions, comments, concerns, constructive criticism, please reach out to myself or the moderators. We want to help you guys as much as we can. Excited about the new program that we have here in the group. Uh, hope you'll have a wonderful day, a wonderful week, and we will see you on the next one.