Transcription
Hey everybody, Will Fix here. We have another video for you today. I got the chance to spend time with my friend Maximus Crypto, and we're going to pull apart a subject and look at it real quick.
I believe it's going to be of great interest to you. We're going to talk about, uh, you guys have probably seen some of this, but we're going to talk about the implications of the new SEC chair.
Also, wouldn't it be awesome if you could earn yield on XDC without converting it to RL USD or something else? Wouldn't it be awesome if you could earn a treasury-style yield on XDC? Well, we got some good news for you coming up, don't we, Max?
We absolutely do! And basically, you're going to want to sit and listen, or in any case, be maybe running down the road or getting some exercise—God knows I need to. But anyway, whatever the case may be, we're going to jump into all that material here in a bit.
But we have just a quick little thing in regards to The Descent Wallet that helps both channels, and that's going to come across your screen.
Here we go! Some of you guys ask what cold storage solution I use. I use this, and it is The Descent Wallet. All right? I also, of course, have a Ledger like this. You can get a discount basically from going into the affiliate link, which is in all the live video descriptions and recorded videos and so on.
For the yahoos that are out there who are like, "This is just a shill," you know, Will Fix points this out, and it's a great point. Were you aware that you don't necessarily get a discount link just going straight to the site? No, you actually have to go through a platform like this. So how cool is that? I don't think anybody's complaining about that.
But anyway, use the link to get a discount. There's another one here if you're the type of person who wants to get one for you and your significant other. You can get two of them. They actually have another promotion, which I think is cool. You can get an all-in-one Card Wallet Plus backup card package.
Interesting! I thought that was cool. And again, one of the main key things I like about The Descent Wallet is not having to deal with the red tape of jumping through all the hoops for XDC and the custom folder. I mean, Edward Vinson can vouch for that, and some of you guys can too as well in regards to Ledger. That was a pain in the butt!
You know how it goes. You literally open up your phone, and it's on your app tracking everything that's going on, right? And you know the saying: "Not your keys, not your crypto." You know the drill.
Check it all out, though, if you wish to do so. It is truly the cold storage solution that I use for the most part. There's still some on Ledger that I kind of split it up on and so on, so it is what it is. But if I have a preference over one, I'm going with this one. It's a lot easier to use and so on. Some people even, to this day, still ask me which one I use.
All right, welcome back! So with that said, let's jump into the material. What we have in regards to the recent developments that were posted not that long ago straight from Reuters.
As this comes up on your screen, you're going to see it. Like it says, "Trump's SEC pick likely to give Wall Street an easier enforcement ride." As we got more into this, myself and Will, we did review this earlier.
The key emphasis is what you're going to see here. Lally posted yesterday. Here he is. You know, you're wondering who he is and so on. We're going to get into that. His name is Paul Atkins.
Just a quick summary: Atkins criticized the SEC's enforcement process and voted against punishing big companies. The SEC is likely to focus on direct investor losses, not corporate misconduct.
And, you know, of course, just like anything, he has critics. But one thing I want to point out for you guys is this key area down here where you're going to see some things in regards to, like, you know, Citigroup.
Okay, so some of you guys have brought up the whole thing of Citigroup. Well, believe it or not, Paul Atkins voted against at least 10 enforcement actions punishing individuals and companies, including Citigroup and IBM.
Now, I want to take, you know, excuse me, talk about this for a brief moment. You guys know that I cover a lot about Quant. I cover a lot about the Regulated Liability Network and the Regulated Settlement Network (RSN).
So why in the world would you have a case of basically speaking, you know, releasing Gensler? Well, you're not really releasing Gensler, but you know, he's resigning on inauguration day, then bringing somebody else in that is going to be against the test that took place.
Citigroup led the charge for these tests. They got Quant involved in regards to a lot of these tests. They got a lot of other organizations, and we know that when it comes to this, like, Quant leads a lot of this orchestration, if you will, of harmonizing some of this with TC37—that's their standard.
And of course, they orchestrate the whole thing, ISO 20022. So many different ones are part of ISO 20022, whether it's Hadera, whether it's Stellar, whether it's your XDCs, your Ripple (XRPs), and so on. You're going to shoot yourself in the foot to go after that, right?
And we know IBM and Casper when it comes to AI governance, and of course, Casper's proof of AI. We have another video they're going to release later today to address some of that.
But the point is, no, this guy from the SEC, or the new SEC chair, is not going to go after that. So that's a win moving forward in that regard.
So I just want to put out the disclaimer. I definitely want to get Will's take on that.
Well, my first take is he has more hair than Gensler, but a worse hairdo than Trump, so he's right in the middle.
Anyway, now, here's one of the thoughts that I had—a serious thought. Even before actual regulations are passed, written down, and passed, he's going to open it up a little bit just by the fact that people understand that the SEC is not against crypto but for it.
So just that alone is going to be a form of impact, I think, on the crypto market just based on that. Just based on this new guy coming in. Don't you think? I mean, it's not just the old guy going out, but it's the new guy coming in.
And, um, there's a thing in law—implied law. There's a thing that lawyers do a lot of times that works. I see it working a lot in the government. It's the implied difference. It doesn't have to be that a regulation is actually passed; it just has to be implied that it's okay for now.
Just like a lot of states stopped bringing, you know, own bail bond companies. So we're always involved with the law. Well, there are a lot of territories that just stopped charging people with misdemeanor marijuana charges.
So they didn't change the law; they just changed how it's enforced. And so, now we know Gary was, you know, twisting the law, but this new guy is going to interpret it properly and isn't coming after us for dumb reasons—reasons that are getting thrown out of court.
So he's not going to do that. And here's what I wonder: I wonder if he's going to make some kind of a statement to kind of pre-free it up. Now, Trump said within 100 days he's going to pass regulations for the industry, which is great.
But don't you think he's possibly going to just free it up for those 100 days also in certain ways?
Yeah, I think he will. And I think, if anything, on this particular part of the article, somewhat addresses that. Let me show you guys what we're talking about.
So back to Reuters, you see here on the screen again. I'm going to full screen this for you. It mentions specifically that under Atkins, the SEC will likely focus on misconduct that causes direct investor losses, such as scams, rather than corporate malfeasance.
We both got butchered that up! All right, we're human people anyway, right? Where the harm is not always immediately obvious.
The source said critics say such an approach is dangerous because big companies can pose systemic risk and are capable of large-scale harm to investors.
All right, I want to talk about that for a brief moment. I don't care if it's 100 days or whatever the case may be. I want people to understand that the old approach from Gary Gensler was literally, you know, "Everything is a security unless we say it's not."
Okay? So basically, you're only saying that Bitcoin is the only commodity out there. And then we had to go through all this nonsense of Ripple (XRP) not being a security and so on. Been there, done that.
Here's where I'm going with this: you can see the stance that Atkins has in regards to this. He's not going to be like Gensler and say, "Hey, you know, we need to follow this outdated model of the Howey test."
Right? He's going to recognize that we need something new in that regard. Well, guys, don't get it twisted. You already have something new that tested all this out in that regard, but it didn't make mainstream news.
And what is that? Hello, the Regulated Liability Network! And it was orchestrated through who? Citigroup! And who got behind all that? Quant!
And who did Quant and these other ones, you know, bring to the big table? They brought Ripple, they brought your Hades, they brought your Stellers, they brought your Zenin, XDCs, they brought some of these other key players to the Regulated Liability Network and said to themselves, "Look, their ERC20s are too slow to settle."
And Quant says, "Hey, no problem! We're blockchain agnostic. If anything, we can switch on the overledger to settle in Ripple (XRP) or settle in Zenfin (XDC)."
That's the bottom line. And the way I look at it is, all right, that's your new quote-unquote Howey test, if you want to call it. I think that's a bad term to use, but for Web 3, so that test already existed, but that doesn't get reported enough.
But the bottom line is this: this new shift meeting up with Trump yesterday, Ripple and the team was a big step forward. Oh man, picking this guy is also going to be a big step forward, and I think it's a win moving forward.
We're going to get into the whole thing about this yield here in a bit, but just some of your thoughts before we jump into that particular segment.
Well, my first thought when you keep mentioning Quant—when you look at, um, when it gets into regulatory things, uh, treasury things—man, Gilbert Verdian is all over the place with the treasury department things going on in the Fed and things going on cross-border with the Bank of International Settlements.
I mean, just, I mean, this is, I guess, just an extra bonus thought. It's unbelievable how involved Gilbert Verdian is with everything. And of course, you guys know that that is Quant. You know, he's the creator of Quant.
And, um, anyway, so while you were mentioning that, I was thinking, "Man, that is such a value added to the prospect of where Quant's going to go with that freaking awesome tokenomics of Quant."
Um, that this bonus material—so I know we gotta move on to the XDC, but man, I mean, isn't Gil everywhere?
Well, you guys will see what we're talking about. This is a solid outline, so it's not just, you know, the whole focus on the new SEC chair. It's not about just the whole thing with XDC with yields. You'll see how we piece this all together from beginning to end.
So trust me, you guys are going to appreciate this. This is really cool.
Let's jump into what we're talking about in that regard. Just a tad bit about Paul Atkins, even from scott.senate.gov. Again, some of you guys want to see like there are other sources other than Reuters basically sharing this. The answer is yes!
So cool to see this. You're seeing this posted yesterday, but nonetheless, you know, Tim Scott, US Senator from South Carolina, Republican, you know, it's a statement on the meeting with Paul Atkins, now nominee to serve as SEC chair.
These guys met. They absolutely met. Here they are, front row center. See what I mean about the hair? That's right!
Yeah, that's all right. Well, you gotta keep in mind, well, I did dox my head about two years ago anyway.
Um, we're going to pull up now also is this. So this was one of the main highlights you guys have been waiting for. Let's get this up on your screen, full screen, just to put some emphasis.
So one thing I want to jump back to—my bad—let's get to this real quick. A while back, what did you see? Literally from here, you saw from here the whole thing about Wall Street.
Okay, so from the Reuters article, this suggests that Wall Street is set to have a much easier ride after years of aggressive enforcement. Right? Of course, we understand, you know, this whole thing of Gensler and the SEC and whatnot.
But again, this guy, this new guy—well, again, back to this and him meeting with obviously Tim Scott. Okay? And then we jump into this whole thing of literally Wall Street.
Well, you see from yieldtech, and that's spelled Y-I-L-D-T-E-Q, just in case you want to visit it. They have, as of a while back, some of these valuations.
Right? You gotta keep in mind we're not going to get the full 2024 report yet because we're now into 2025. But where the case be, we'll get some reports a little bit later.
But real-world assets on-chain, USY provides exposure to an ETF. Well, and I talked about the want and need for the D Alliance. But look at this for a second. This gets really juicy because you're going to see that this is built with XDC.
And you're going to see that Enterprise Grid, and like it says, it's uniquely suited to revolutionize, decentralize, and liquefy the trade finance industry. You have the EVM-compatible smart contract-enabled layer one, and it's geared to support a wide variety of enterprise applications.
And again, why point this out to you guys? Well, a lot of you guys hold XDC, but there you go! Boil it, mash it, and stew it. Earn 5.23% with US Treasuries on-chain.
So XDC basically built this. Wow, that's a win moving forward! And if anything, before we jump into the significance of this, just on a surface level, Will, what do you think in that regard?
I know you have a decent amount of XDC. I have XDC as well. I'm very, very excited about this.
Yeah, I own a lot of XDC, and here's what my thought is: like, you know, when you have a lot of money in something, you know, uh, let's say you have $100,000 in an asset.
Well, if I can put that in a money market fund and earn 5.23%, then that's great. But as soon as you buy a crypto asset, unless you're able to stake it somewhere, you don't have the ability to earn yield on it.
And generally, when you stake it, you have to stake it for a period of time, and you can't release it as quickly as you would want to maybe. And you earn more yield the longer you stake it.
Well, what they're presenting here is XDC earning a yield from treasury 5.23%, but you still have it as the original asset of XDC.
So whatever the dollar denomination amount that your XDC is worth, then you're getting the percentage based on that. And as you know, that's going to be a fluctuating asset—mostly up.
So it's really cool because you're earning both ways there. You can have your cake and eat it too, so to speak. And, um, I just think that's fantastic that we can, uh, basically with the United States Treasury, you're basically staking your XDC with the United States Treasury.
And if you know about staking, it's not all as safe as you would want it to be. You know, some of it is subject to some of the companies that you're staking it with.
So when you think of what they're doing here, it's the safest that can be. There's probably no safer offering than US Treasuries on the Earth right now. That's a pretty safe bet!
So man, I love it! I can't wait because I'm definitely going to go that route.
I do think it's a safe bet as well. And what we discovered on the site, just to save you guys some time, some of you guys are going to ask, like, "Well, you know, is the yield paid in US dollars?" From what we discovered in the documents, the answer is yes, the yield is in fact paid in US dollars.
Another question was brought up: "Well, if this is the case, can't we just do this with Ripple (XRP) or anything else?" Some of you guys are going to ask that, and basically, here's the answer: the use of the XDC Network and this specific example is likely due to several factors.
But, you know, yeah, there's XRP, but their focus for this particular one is to focus on trade finance, and obviously, that stands out for XRP. Every time we talk about trade, you know, XDC stands out—supply chain and so on.
So from what I've gathered, this is explicitly designed to revolutionize, decentralize, and liquefy the trade finance industry. It aligns with the tokenization of real-world assets like US Treasuries and so on.
And speaking of Treasury, interesting because we talked about Quant. Check this out for size! This made recent news coming up on your screen.
I brought this up in regards to the X-ace. By the way, join us every Tuesday at 3:00 PM Eastern, noon Pacific. We have an X-pace. You can follow me at DPG Maximus on X.
And if anything, hopefully in the future, we could have Will as a special guest. I do this collaboration with Sebastian and my friend Shanning.
But check this out! Two days ago, we did bring up the whole thing about treasury management, did we not? This really is awesome!
You see here from TMI, Treasury Management International: "Traditional electronic money has served the purpose. Digital money will soon be setting the payments agenda for corporate treasurers."
Well, possibly! It's more than possible, everybody! This was already orchestrated through the RLN.
And if anything, what settles with the RSN? Your Ripples, your XDC, your XLM, your Hadera. TMI consults digital currency expert—yep, that's right! Gilbert Verdian of Quant—about the outlook for treasurers as more commercial banks consider a tokenized future.
So again, look at this! Imagine going to a baseball game. You know how you get those programs front row center, front page: "Why digital money can be a corporate treasury win?"
With who other than Gilbert Verdian, who has over 20 years of experience in cybersecurity and was part of HM Treasury. Wow, right?
So they didn't just consult anybody; they consulted him because they understand what he's connected to. We talk about the orchestration of the RLN.
This, in my opinion, all makes sense of how all this comes into fruition. But to answer the question, guys, is smart contract capabilities.
While Ripple might not be the ideal choice for this specific scenario, you have to keep in mind that their focus, of course, is on payments. But at the end of the day, it's the whole thing about regulatory uncertainty.
So this ongoing battle is coming to a close, and you can see at the forefront what ones stand out. But they're all part of that thing of the RLN.
What SLE with—yeah, when you add what our other video was, maybe we can put the link at the end of this one for the other video on XDC.
When you add to that that XDC can be used, has been approved, is the only one approved to use a smart contract to wrap another coin and send it through the XDC system, and therefore use XDC's ISO 20022 compliance to do a payment, you add that to what XDC has here in this.
I'm telling you, man, I'm so glad I own a lot of this asset, and we're at what? Around a dime?
Yeah, very, very under. What he's referring to, you guys that haven't seen that video, is regards to if a BTC has that slow dinosaur of all of them, right? The T-Rex of crypto, if you want to call them Dino coins—some of you guys call it that.
Being able to send a BTC on ISO 20022 smart contract for real-time gross settlements for instant payment—how can that be done?
XDC is the only one that will allow that to be done and settled and to upgrade from 2 to 7 TPS on the Pony Express of crypto, BTC, to settle right through XDC for 2,000 TPS.
That's a big jump! All right, how do we scale from there? 1 million plus TPS on the Bank for International Settlements' system, right? Which is crazy in itself!
But what's the catch? You have to be ISO 20022 compliant, and you have to have a direct partnership. That's the catch.
XDC is currently the only one that will allow it, and in the future, there could be XRP and some others, but that's what we gather in the research, and that's absolutely profound.
Hey, listen, we're going to end this video because we're both on time constraints. We really appreciate you guys. Thanks so much! Help the algorithm, give us a thumbs up. We really appreciate and love you.
And I love you, buddy, Max! I know that this is the end of our time today because I got to go eat dinner.
Here's your C-word real quick, everybody, and that is finality. And we'll know that you listened to the entire outline.
We won't keep you any further. We'll see you guys on the next one!