On the mic
Summary
This episode of All Things Crypto, recorded after the Labor Day weekend, opened with news that XRP is adding Ethereum-compatible smart contracts to the XRP Ledger, and with how Futureverse and the Root Network connect to Ripple. The hosts then covered the macro picture: weak PMI and ISM manufacturing reports, the Friday non-farm payroll report, the September rate decision, and whether rate cuts help or hurt stocks compared with Bitcoin. Other topics were the NVIDIA antitrust subpoena and insider selling, leaving buy orders far below market price to catch flash crashes, the CoinMarketCap TON price glitch, and centralization risk around Wrapped BTC custody at BitGo. A long stretch focused on flashy spending, wealth mindset, and social media pressure. The show ended on the SEC possibly challenging FTX's plan to repay creditors in stablecoins and on Coinbase confirming that two AI agents sent tokens to each other. All of this is discussion, not financial advice.
Chapters
Futureverse, the Root Network substrate upgrade, and Futureverse choosing Ripple custodyMomentAt 0:11:33 on X
Two-phase plan: an EVM sidechain first, then smart contracts on the XRPL mainnetMomentAt 0:15:41 on X
Macro check: PMI and ISM manufacturing reports, recession risk, non-farm payroll, the September rate decisionMomentAt 0:18:32 on X
Buy orders far below market price to catch flash crashes, and the CoinMarketCap TON glitchMomentAt 0:36:25 on X
Wrapped BTC custody at BitGo, the Justin Sun connection, and SK Telecom and Hana FinancialMomentAt 0:42:27 on X
Coinbase confirms AI agents sending tokens to each other, plus AI compute buildoutMomentAt 1:18:42 on X
Key quotes
“In layman's terms, this means that developers can build decentralized applications on Ripple's blockchain using Ethereum tools and languages, and it also increases the interoperability between Ripple and ETH.”
NatNat0:10:10Share on X
“But now, like, it's no secret that Ethereum has the biggest dev community.”
Dave0:11:03Share on X
“It's okay to just go outside and touch grass.”
“They don't feel the need to impress, so they invest their money versus spending the money.”
“There's no dollar value to what I want.”
Kool0:59:09Share on X
Excerpts
Intro, Labor Day weekend recap, and cohost banter
- 0:04:22 Dave What is going on, everybody? Happy Tuesday. Yeah. Today's Tuesday. Another episode of all things crypto. We were off yesterday, obviously, labor day in, not really doing much labor. Shout out to to d I c u, Pearl…
- 0:05:31 Dave Nah. I didn't I didn't do anything too too crazy. Just pretty much chilled out. Spent the weekend, like, in the city. Yeah. You know? Actually, wait. Now that I actually have you... Hold on one second. I got Hold on.
- 0:07:00 Dave What's up? Did I say something wrong? Yo. Cool. Seriously, you need to teach me the ways, bro. I'm over here with, like, a push up board doing sixteen hour fast. You know what I'm saying? I don't know what's going on…
XRP enabling Ethereum-compatible smart contracts on the XRP Ledger
- 0:07:40 Dave You're inspiring everybody out here. Cool. Good shit. Good shit. Good shit. Yeah. So let's jump into kind of the topics for today. Right? It was a long weekend for crypto. Some news. You know what I mean? Some pretty…
- 0:09:29 Dave Yeah. I saw the new story literally maybe two hours ago. I can pin it up. Want me to pin up the story?
- 0:10:35 Dave Yeah. I think it's a... It's... Because it... What does it do? It really opens up, like, the entire ecosystem. And I put future Yes. And I put future verse in the title, right, as, like, a little bit of clickbait…
Futureverse, the Root Network substrate upgrade, and Futureverse choosing Ripple custody
- 0:11:33 Bildo Verde think about this news? Yeah. What's going on? GM from the PM? I mean, I think it came at an interesting time. I'm not... I was listening to some XRP spaces earlier this morning, and they're they're fucking rowdy. But…
- 0:12:33 Bildo Verde But let me find... I think I sent it to you last night. Let me see.
- 0:12:54 Bildo Verde So do you remember the spaces I had you listening to, and you were like, holy shit. What did
Two-phase plan: an EVM sidechain first, then smart contracts on the XRPL mainnet
- 0:15:41 Dave Yeah. And And they're not dropping news like this. So let me give everybody maybe, like, the bullet points. Right? So one, obviously, we just said Ripple's gonna add an Ethereum compatible smart contract to the XRP…
- 0:17:13 Dave Oh, there you go. Done. I didn't even see it. I I literally got the cliff notes from Junie. Perfect. Right? And, like, they're starting to expand now. I think... Yo. Cool. Do you remember when we... Yeah.
- 0:17:54 Dave Remember when John said that XRP over 55¢ is gonna be, like, a thing? Where is XRP actually right now?
Macro check: PMI and ISM manufacturing reports, recession risk, non-farm payroll, the September rate decision
- 0:18:32 Dave Alright. Sounds like a plan. Stan. Okay. What else do we have? Cooking. Hold on. Let me see here. Let me pull up my stories. Oh, FedMinutes. Nat, I know that we've been teasing it out. When is the date officially that…
- 0:19:06 NatNat Yes. We've been calling this for a while, this is nothing new. It's everything in... For lack of better terms, right, all the bullshit coming together. We spoke about jobs. We spoke about whether, the rate cuts are…
25 vs 50 basis point cut, and Bitcoin as a possible store of value
- 0:22:09 Dave Interesting. Interesting. So wait, Nat, prediction prediction wise, 25 basis points or more?
- 0:22:19 Dave Oh, would be bullish. You think that's factored in already or no? I I feel like 25 is factored in, but not 50.
- 0:22:26 NatNat Correct. But I don't know if that's gonna be bullish though because at at least for the stock market. Right? Everyone's expecting a... Well, those individuals that I have been speaking to, they're expecting a possible…
ETF net outflows, calls for 40k, and the November election outlook
- 0:23:54 Dave And it's interesting because we literally saw for the first time in, I think, ever over the weekend, there was net outflows from from BlackRock from the... On the ETF side. So I think there are few... A lot... Like…
- 0:24:52 Kool Yeah. No. So I I hope they don't do a 50 cut. If they do a 50 cut, we're probably gonna go stock market because they're gonna crash a lot faster because that... That's... That would just indicate that there's something…
- 0:29:40 NatNat I second everything Kuo just said. That's exactly how I see it too playing out within the next few months or so. I doubt that they're going to let everything just implode, especially the few weeks leading up to…
Stock market selloff, NVIDIA antitrust subpoena, and insider selling
- 0:30:27 Kool Yeah. Over over, over $1,000,000,000,000 was lost today in spot markets. 1,000,000,000,000. That's almost the entire, yeah, almost the the entire market cap of crypto was gone in one in one day. So that's that's that's…
- 0:32:25 Dave Didn't they open up... Didn't the justice department just open... Didn't NVIDIA receive a subpoena today for antitrust?
- 0:34:21 NatNat Yes. Warren Buffett. He's sitting on a massive cash pile. Like, he can he can solve world hunger with the cash pile he's sitting on. These people know. Right? Because I always say the stock market, it's all cycles and…
Buy orders far below market price to catch flash crashes, and the CoinMarketCap TON glitch
- 0:36:25 Dave Wait. So this is gonna kinda segue a little into, like, what... Like, how to maybe, like, you know, pick off some of these markets. Right? Because I've been seeing this a lot lately. And if y'all remember the last time…
- 0:39:47 NatNat You you know what? It's worth a try. I've never done this in the in the crypto market, but in the stock market, I put a a put way out of the money for Apple. This was last year. Right? So a put means you expect the…
- 0:41:25 Dave So Wait. That's not gambling, bro. That's literally a miracle. Right? So it's like, if the money ain't doing anything else, then why not? You know what I'm saying? If you have... Granted, I don't have the money to do…
Wrapped BTC custody at BitGo, the Justin Sun connection, and SK Telecom and Hana Financial
- 0:42:27 Dave Correct. Correct. That's exactly what I'm saying. Right? I don't have the money to do it. I'm talking to the highfalutin, bougie, you know, Houston homeowners. You know what I'm saying? Like, that can afford to do this…
- 0:48:24 NatNat Yeah. I'm actually reading deeper into this in the background. It is... It's very interesting. I feel like it's... I don't know. It... There's, like, pros and cons to it. It's good for, like, kudos to BitGo, but then…
- 0:50:16 NatNat I'm re... So what I'm reading right now, it looks like they put out a statement because I... I'm I'm assuming they know... They're hearing the concerns, right, the community concerns. And the CEO of, BitGo, he he said…
Hex, flashy spending, and broke mindset vs wealth mindset
- 0:53:08 Dave I'm really curious as to your take on Hex, but the rest for another show, I would love to hear if you if you if you think that's a Ponzi or not or however the hell you structure that whole fucking thing. I'm still…
- 0:58:39 Dave Sorry, Bubba. You can't be driving the matching Lambos. Listen, guys. You know those memes where it's like there will be signs? Those are my favorite memes ever where it's like, guys, if I hit on this meme coin, there…
- 1:03:31 Dave I'm gonna literally tune Junie up just to be like, hey. Listen. Dave's on vacation for the next six months. I'll be taking over the show, and, yeah, just ask me whatever you need. We've been... We we we got the we got…
SEC may challenge FTX's plan to repay creditors in stablecoins
- 1:09:24 Dave Holy fuck. That's too good. Okay. We'll come back to it in a second. I don't know where it is. I can't pin it up. But if you guys see it in the in the... What's it called? Yeah. Definitely throw it up there. But I…
- 1:10:29 Kool Yeah. So I I I saw the story too, but, man, to answer to you guys, I'm tired, man. I'm tired of the SEC. I am tired of, of all this regulation this, regulation that. I'm tired of the uncertainty, and I'm I'm tired of…
Debate over the NVIDIA subpoena and big corporations
- 1:11:51 NatNat But that's not that's not a surprise to me though, Benny. If you really break down if you really break down the way they do business, it's not all, like, the way it should be. Right? Then
- 1:13:09 NatNat a step. Absolutely. Probably. Why even... I do think the DOJ has a a... The means to go after them, though, and the whole point to go after them. Because we've been looking into NVIDIA for a while too. We've been…
- 1:16:05 Kool this is the reason why... Yeah. But, yeah, no. No. No. No. Go ahead.
Coinbase confirms AI agents sending tokens to each other, plus AI compute buildout
- 1:18:42 Dave Yo. Wait. Real quick. So speaking of NVIDIA, by the way, and this kinda leads us to... Maybe we can, like, end on this. It's not directly crypto related, but on the AI front, which I think everything is crypto related…
- 1:19:14 Dave Yeah. So this was a huge deal. But what I really... What I wanted to say just to kinda transition, like, to the AI, like, kinda maybe crypto thing was, we see what Elon is doing now. Like, for those that haven't been…
- 1:22:11 NatNat And, Benny, to add to that, he... I think he's also coming up with Robotaxi. He's doing a lot of stuff that requires AI, so that could be the the reason why he's hoarding all of that.
Short excerpts from the auto-generated transcript. Listen on X for the full show.