Episode 18: Bitcoin’s Million-Dollar Future? Stablecoin Wars & Gemini’s Big Bet

00:00

Hey everyone, welcome to another episode. This is JR, founder and CEO of Social Market. Hey, my name is Leon Hitchens. I’m the chief marketing officer at Social Market. Yeah, and we’re back with Social Ledger Report to give you more  weekly news on the crypto markets  and possibly anything else that’s tied to it like AI, startups, you name it. Before we start, subscribe to the channel and  on Apple Podcasts. This is a new revelation to me, so I’m gonna  inject with all the start of the shows, but…

00:29

uh Reviews are the best thing to help promote podcasts. So if  you leave us a review, that’s super happy. Maybe leave your best lean point as a comment in the review, but reviews on Apple Podcasts and subscribe and leave a comment on YouTube. Yeah, totally. So we’re still kind of new at this podcasting journey we’re doing. So any feedback you have for us to kind of improve your experience would really go a long way for us. If there’s something you’d like for us to do, let us know within reason, I guess.

00:58

Yeah, like and subscribe if you’re watching this on YouTube give us a follow on any other platforms and yeah Let’s talk about the whirlwind of crypto this what? It’s been a few days, but it’s felt like two three weeks with how crypto hit a low or was heading towards a low heading towards sell off and then ETH like Took off and it hit an all-time high again. Yeah, totally. So the top

01:26

Coins right now in crypto are Bitcoin, Ethereum, XRP, Binance, and Solana based on their market caps. Solana hit 210, right? Solana. Binance won. Good question. Let’s see, I think it was almost 210 that it hit. So right in the last week, it was like right at 211 and right now it’s sitting at 204, which is high for it. Yeah, not to get very analytical here, but if you look at the chart, there’s a massive spike.

01:55

And I think this is reflective in any other token you look at. So I don’t know. Let’s look at Bitcoin for instance. I wonder if it aligned to the announcement where this is a spike right now. Yeah, it went up for a bit. It was at 117 and then it was it today. think it’s I think it’s looking at today or something. yeah, no, I think we had the rumors of market rate cuts.

02:24

You know, the tariffs are being not as destructive as most economists thought. Like, everything’s looking in the right direction. Trump is also aligning a lot of legislation around crypto. He’s making sure that investments are happening. He’s making sure that  the SEC’s settling all these cases. So I don’t know if we’re going to see like a crypto type winter. This could all turn into a giant bubble and Trump exits office and  we run into a brick wall and…

02:52

You it turns into train wreck, but  I’m kind of hopeful. know, even after Trump leaves, for better or worse, I’m hoping that the crypto markets kind of just become the real winners. There’s a lot of things that he’s doing and him and Doge and Elon have been doing that affects other people’s  livelihood. But  if anything, I think the real winners here are going to be the crypto markets and possibly the corporations as well. Even if we have someone that isn’t super pro crypto after Trump,  I think

03:21

You know, given the legislation that’s been taking place with like the genius act and then  the clarity act. think the goal would be to keep the momentum going for developers and businesses trying to actually improve the financial systems as we know it, because that’s kind of like the efforts everyone has been doing by kind of getting Trump and our representatives to be aligned with crypto. Like the Stanford crypto organization that was kind of created by Coinbase. yeah. Just think.

03:49

Thinking of Coinbase and then also talking about Brian Armstrong, like there’s still a lot of people that believe Bitcoin could be much much higher. I know this is just a salacious claim, Brian Armstrong says it could be a million dollars by 2030. I think that probably is too too much because I don’t know if it’s going to skyrocket that quickly over the next couple of years, but I could see it at

04:17

you know, 300 to 500 very easily by 2030. You know, it’s very possible. I think what would drive the demand is just having all these regulations passing that kind of facilitate people to not only trust crypto more, but also to use it. So right now we’re probably seeing stable coins kind of starting to position the replacement of the dollar. I think the dollar is inevitably,

04:42

going digital or in the very least getting replaced at some capacity in the near future? a per se. I think it’s just gonna be like a remittance platform where… Remittance? Yeah, remittance like transferring money around, paying people, paying things. think USDC will be kind of the… some sort of like one at the bank like a Bank of America, you know, wrapped stable coin. Like I feel like every bank’s gonna pop up with…

05:10

stable coins so you can say and transfer a thousand dollars all the way to Wells Fargo have it converted to theirs and then still spend it as like USD. I think it’s just gonna be more institutions that hold  USD but also there’s just like a premise of cash is like baked into our society. I don’t think it should go anywhere  just because crypto is  is taking over. I think there should be some sort of cash system.

05:36

There’s too much crypto big brother if you have everything tracked like that’s the one spot that I stray on. Yeah, that’s a great point. mean, I the reason why I think you know, you made a point that Brian  says that Bitcoin could reach  a million dollars each token by the time it’s 2030, which is in my opinion, a very optimistic kind of thinking. I can definitely see it reach that level within our lifetimes. I just don’t know when exactly the only

06:03

way I can see it happening by 2030 is by having governments, companies and 401ks. More than just ETFs. Exactly. I saw the money market had like, you know, hundreds of millions, not like billions of dollars sitting in money markets, not really doing much except for whole name of bonds and treasuries. I could see that shifting out more and more. Also, the reason Bitcoin continues its march.

06:32

Ford is not so much like all the other parts.  It’s  the fanfare people, people going on CNBC and like pushing it forward. Like  you don’t see that with  Ethereum as much. You don’t just have random people out there saying  Ethereum is going to be 10,000 by the end of the year. Like if you had more people saying that, there would be more buzz around it and push. Like I think  right now you have AI pushing forward so heavily on how it’s going to change the world.

07:01

that it’s also really hard for like Bitcoin and Ethereum and all these coins to really keep the momentum going sometimes because you have people split of like, AI is changing the world and crypto is changing the world. Like that’s a lot for just mainstream public to be like, well, there’s a lot of disruptions all at once. Whereas 25, 30 years ago it was just the internet. internet was the big disruption. Now this is like two bifurcations.

07:29

You got a bifurcated path that’s just like pushing you down two different totally different things, but also a lot of them are combining it. So I could see it being, you know, a million dollars definitely in our lifetime. I could see it even being a million dollars, you know, somewhere sooner than I would say. But we’ll kind of just see the March forward. Like, what is it sitting at right now? Right now it’s almost 13, 113,000. Currently it’s at 112,976. What was the all time high?

08:00

Yeah, that’s a good question. We should just put like in the app, there should just be a section here that is literally, can we just pull in all time high? Okay, there we go. we have it right there. Right next to the order book. So what you guys are seeing right now is kind of like the outdated version of the app. We’re hoping to release a much more seamless and better UI before the end of the month. So we’ll keep you guys updated. Maybe by the next episode, you’ll be able to see it.

08:26

Yeah, it sits at 124,000. That’s the all-time high. So  it’s holding steady, which is good, but it’s not going there. So for a minute there, everyone was kind of worried about Bitcoin. Like, you know, August 19th, not too many days ago.  It was what? uh Tuesday, I think.  Yeah. This was short-term holders were selling for a loss for the first time since January, signaling either a reset or weakening momentum,  which  is still happening.

08:56

you know, sitting at 112, but it’s still like showing strong momentum in a lot of ways. Like I know a lot of people are talking and just chit chatting. think with the AI, love it. Love that. But like there’s still so much money that’s just sitting in the sidelines right now. I think if Ethereum can keep pushing, like everyone’s talking about $10,000 by the end of the year, 15K would be amazing. If it can keep pushing, it would help.

09:25

push all the altcoins, like we actually have an altcoin season.  But we need Bitcoin to hold on  to make sure it keeps moving.  Trump is like,  everything he says out there is about making the United States the strongest place for crypto, making us a leader in crypto. And all of that’s gonna keep driving the price  up,  as electricity gets more expensive and proof of work and all of that  gets harder and harder, these coins are just gonna keep getting more expensive.

09:53

So there’s just inherent growth in it. I agree. The other thing is America and not to again be political, but America is just kind of like the best place in the world for creating innovative things, for doing new things,  bringing new technologies that the rest of the world can use. know, WhatsApp was made in America and right now it’s widely used around the world. For instance,  my example with WhatsApp, know, creating a phone line anywhere else in the world can be expensive for a lot of people. Also, I’m not sure how their mobile plants are, but

10:23

Messaging is free every every day like hundreds of billions of messages are sent every day because of WhatsApp so it makes it so much easier like American Tech space has built most of the stuff. You don’t see very many other companies like outlasts in Canva. are Australian True. Yep. I don’t know off the top of my head any European companies that are like big ones like well, there’s Ikea and that was Swedish Yeah, but it’s more furniture

10:54

Like you have like enterprise stuff, is  like SAP. Outside of that, I don’t know very many like European big tech companies. I do know a few  that make like the Spark email client that I use that’s Ukrainian. They build a bunch of other like iOS and,  and uh, Mac apps. My point is like  America does seem to be driving it.  And the American exceptionalism is if we can keep doubling down on it,  that we can push.

11:23

crypto forward and have a lot of innovations that  the other markets across the world will kind of follow suit very quickly. I agree. So there was this episode from Sean Ryan show, the podcast with Brian Armstrong and Brian makes a great point. And I think that kind of mindset resonates with every leader in the space, even with the president, where I just said that, you know, America is kind of like the best place to release the technology that later gets used around the world. I mean, there’s the internet as well, if you think about it.

11:53

But he said that a lot of countries especially like in Argentina where he lived Argentina is just experiencing bad inflation and even getting a loan in Argentina It’s really really hard because there’s it’s hard to get a collateralized loan When their dollar is just you know losing value day by day or even hour by hour So for those reasons we could probably be seeing that kind of inflation in several other parts around the world. So this is work

12:22

crypto really comes and solves the problem. You have digital money that  is scarce and could be backed by the value of everyone. So crypto really is kind of like the solution for a lot of the problems  of just how the internet, for instance, is an open network. We can see different networks of money, but the whole world is going to be using a more unified network to transfer wealth. So for those reasons,  it is very possible that crypto could grow exponentially.  And just through that,

12:52

Bitcoin could reach $1 million without a doubt in their lifetime. I still think I know everyone’s like oh this is the top like you know don’t want to buy Bitcoin because it’s so expensive it’s like no but keep buying it do the cost average like buying just buy it put it in a account you know if you’re buying $500 a year just do it but you’ll have some it’ll be worth a lot more in ten years like just just kind of keep buying across all of it

13:20

We were kind of just talking about America kind of doing its best to be first in this crypto adoption and innovation place around the world. Well, China, you know, kind of doesn’t like what’s happening. So this is from  Cryptoslate. China quietly prepares the yuan stable stable coins as 99 % of supply is minted dollars. Beijing’s first roadmap on the yuan back tokens could challenge

13:46

dollar dominance but faces capital controls and global skepticism. So I think that title and the sub headline kind of just encapsulate my point here where, you know, they’re quietly trying to release this stable coin into the market, which 99 % of it is supplied with dollars. So it’s kind of revealing the fact of how dominant the dollar is currently, but I really don’t think it’ll be dominant forever because, you know, it’s

14:16

losing its value year by year. the point here is China, a country that really doesn’t like crypto, it doesn’t like it when people have control of their own money or any some what we would consider bare minimum freedom rights. So I’m not surprised seeing that they’re kind of seeing the trend where crypto is heading and it’s really there to just upgrade the financial system as we know. So

14:44

them releasing a stable coin kind of validates everything. Didn’t they ban Bitcoin mining again? They  are constantly banning mining. They’re constantly bringing it back. Exactly. Their currency is manipulated pretty heavily.

15:00

Everyone knows that like they see it every day with their real estate market like kind of teetering  They inject money in all the time no different than really sometimes the United States government their  Manipulation is just a little  more bold. You know, nobody tries them in their currency Nobody trades really in rubles, you know the Russian currency like everything in trade is always through US dollars like  I could see

15:25

them not going to Chinese currency or Russian currency, I could see crypto becoming the currency. Like I could see something backed to the US dollar. And the reason the US dollar is the United States military backs it up. then it’s that I think that’s really what its value is. So long as that stays there, the US dollar is going to be dominant. Every empire has to fall. Well, it’s not just the military, but it’s also its allies like the  European Union, Britain, you name it.

15:54

um They’re all kind of backing the dollar and  you know through the domino effect eventually the country that is the US and the military It’s really interesting to see and this proposal that is Making the yuan more common in the global commerce is interesting because as you know bricks, know, it’s Brit. What is it? um It’s  Brazil Russia India And then C is for China and S is for um South Africa, you know, these  countries are really kind of

16:25

forming a coalition to dethrone the dollar. So I’m kind of interested to see how that develops. I would have assumed BRICS would have come together to kind of back a coin that is  a stable coin, but this is more of just China taking the initiative.  And maybe, who knows? I don’t even know what it’s going to be called. Maybe it’s going to be the Yuan coin or something. If it does well, then I can definitely see the BRICS coalition taking this influence  and just…

16:53

this use case that succeeded with China and applying it for a BRICS  token.  That would be my speculation. It’s really hard to say right now what could happen, but it’s really interesting that China is doing this because again, it’s  banned crypto, God knows how many times, but  they’re now pioneering a state-backed stablecoin.  So  the key takeaway here is if you haven’t bought Bitcoin today, need to this month, you need to start buying Bitcoin. People are already seeing

17:22

the influence and even countries like China. So that would be my takeaway. Well, you’ve got that. And then on the flip side, you’ve got states now  issuing their own stable. That’s right.  We have Wyoming rolling out their own stable coin. They’re calling it Frontier Stable Coin or Token Stable Coin.  First US state to do it. Wyoming seems to be really heavy into crypto. They’ve always kind of done this.

17:50

They’re fully collateralized, 102 % reserve requirements, so it’s super, super stable. It’s gonna empower their citizens and businesses with a modern, efficient, and secure means,  transaction, and digital age. It’s gonna support Wyoming’s education funds, so any  money I guess they make off of transmitting money,  it’s gonna help that. There’s also supposedly a built-in section for public meeting, public input, oh and that should be pretty…

18:17

interesting and that’s also on all solana based and it’s gonna on crack  in the coming days so  so interesting really interesting on this front like i’m  kind of shocked that wyoming was the first and also like  that they’re they’re pushing it so heavily  um  i know it’s going to live across all of their blockchain so like it interoperates with ethereum solana  are  are batrum

18:44

avalanche polygon, optimism and base. So it’s by like the zero layer in there. It also means it’s just easier to scale the flexibilities better. And then it’s also got a bunch of different integrations across the board. I think it makes a ton of sense for states to kind of do this, especially if it’s going to let them  do everything in a more digital way that’s on a blockchain that’s not really  able to change. There’s a lot less  possibility for fraud. Like in the end, it could be pretty good.

19:14

The one part again is like fraud could still happen. It just has to happen off the blockchain and somebody fudges some numbers and gets out on the blockchain. Like how do you prove  the fraud then?  Well, fraud is going to happen anywhere, anytime, not just with crypto.  In the lifetime that I’ve  been with crypto since  a few years ago, I’ve seen everywhere disregard crypto or just outright  dismiss it because it’s like a

19:40

scam only place or technology, but the same could be said about anything like the internet back then, back in the days  before my lifetime, but you hear stories and  you see cases where the internet was kind of like this criminal enabled  system where people could just use it to talk and I don’t know, do legal things, but you know, like everything starts with crime and and porn. Like, yeah, that’s really when mass adoption of crypto and the adult industries there.

20:10

I think we’re going to be pretty safe.  one last stable coin I want to mention because I think it’s interesting that Metamask is doing this. uh Metamask is rolling out their own  stable coin  built in there. It’s the first self-custodial wallet to launch a stable coin. They have a lot of big plans with it. So interesting. I think it’s going to  be just really helpful for them.  It’s kind of like the first step to becoming a bank in a way. uh So they built with Bridge.

20:40

Stay at stable coin, you know, and there it’s a stripe company. So kind of interesting Maybe stripes will you know have all these stable coins that are really interoperable It’s on on ramps off ramps, you know swaps if you need a Bridget It just makes everything easier It’s gonna be later this year that they’re pushing it out and overall I think it’s a really great way for them to just kind of push into being kind of like the New Age Bank

21:09

That’s really what all of these providers are doing. Yeah, I don’t remember, but there was this one piece of legislation that went along the Genius Act. Something about banks. know, know Brian talked about it several times in the  Sean Ryan episode, but  it’s fresh in my mind. That’s why I’m mentioning that one episode. But, you know, does this make Metamask a,  a neo kind of financial

21:38

Business where it’s like you have banks and they distribute token  banks distribute dollars. I guess and you know, they’re more  more traditional finance uh systems or enterprises, but I think with the new genius act it’s supposed to  give some sort of limitations if you are now provisioning stable coins or or tokens maybe so

22:03

What I’m trying to say is, Metamask might have to comply with new regulations because of them becoming a stablecoin issuer. Yeah. So the stablecoin really, all the laws that I know that are out there, they’re still kind of being unpacked in all these bills on what it means for every company. But my understanding is a stablecoin issuer

22:28

has to have like strict reserve requirements. It’s like 100 % of it or like 102 in the YLing one. But they’re not able to like lend against these customer deposits. They’re just not doing that stuff. That’s the key differentiator from banks. Banks will take $100 and only keep $30 on hand. The other 70, they go invest and make money. The only way that they’re making money is by the transaction fees. And that’s, you know, small parts through the whole system. They’re not like…

22:58

going and lending that money they have to have like big collateralized parts to them.  So it itself is not a bank but it  is falling under like the money transmitters, payment license, all that stuff with the FITNSIM that you have to deal with. That’s what it would follow under. I would say um a wallet like Metamask issuing a stablecoin,  blurring the lines, what is a bank from Wells Fargo to Metamask?

23:28

kind of. It’s pretty close. Like the only difference is they’re just not going to lend you money now or you won’t get a know won’t get a loan from them but you could go buy Bitcoin and get a loan that way. Yeah I mean  you can always use Bic well not always but only recently can you use Bitcoin as collateral again for loans. While you were talking I was looking at the Gini Sakt a little bit  and kind of just reading  what premise or what jurisdiction Metamask would fall in now that they’re

23:57

technically a stablecoin issuer. So in the genius act, there’s a couple of key points here, but I’ll just keep it simple for y’all. So they have this permitted issuer status now where only quote unquote permitted payment stablecoin issuers like Metamask now  can legally issue stablecoins in the US. This means Metamask through its issued partner being bridge, they must be registered and approved by the federal or state levels under direct oversight.  Once Metamask USD or

24:26

M USD outstanding supply exceeds 10 billion only the federal supervision is allowed but um the full reserve to your point so every MetaMask USD coin must be back one-on-one by the dollar  or short-term treasuries not just algorithmic assets like USDT like Tether on a monthly cadence public reserve audits are mandatory and the assets must be highly liquid and low-risk so they do get audited so

24:55

through the Genius Act,  must be registered and permitted. So I guess they need to go through a registration with FinCEN or something.  They must maintain a one-on-one cash or treasury reserve with public monthly audits  and they must ensure robust compliance, redemption rights and data privacy, or they risk to  losing their license or being allowed to  issue stable coins. So.

25:22

It’s kind of interesting because they’re kind of like the first  of their kind  of self custody wallets, but it’s really interesting seeing how they’re pushing past  being a self custody wallet to now just being an issuer. So who knows? Maybe they have big plans or playing  4D chess. Probably their executive  team is thinking like 20 years ahead of the future and they’re saying, hey man, if we are now issuing  stable coins, that could open the door for several other things in the future, which could.

25:51

help them with the profits or with their market size, dominance, you name it.  Yeah,  it’s going to be interesting to see  as all of this stuff rolls out. think over the next really six months to a year, we’re going to see what these companies have visions for. uh I think that’s all on the  stablecoin mania.  We’ve got one more topic, right? Well, it’s a bit of two, but yeah, it’s about Gemini.

26:17

A couple of things here Gemini and I don’t think we covered this sooner but they are actually just filing with the SEC for an initial IPO. So they mentioned it before with or I’m sorry not with the SEC but they’re aiming to be listed on the NASDAQ. So they’re probably in a way setting up the paper filing for SEC but also with NASDAQ. So two things from that  one crypto is maturing. You know we’ve already seen two stocks with crypto crypto related companies uh Circle and Coinbase.

26:47

First it was CoinBiz and Encircle. We discussed before Kraken  doing kind of the same thing where they’re trying to uh have an IPO, which it’s also a centralized exchange. And then now with Gemini. know, Gemini is the company that’s created by the Winklevoss twins.  And they also provisioned the Bitcoin credit card where instead of getting points, you get Bitcoin, which is amazing. I use it all the time and I love that card.

27:13

So from first hand experience, I can tell you I love it. Now, what’s interesting  is they’re not necessarily making money. Their revenue is down  and they actually posted a bigger loss this year. And yet they’re still trying to go for an IPO. So that’s kind of an interesting thing. I guess maybe they need to raise the money. Yeah, that’s good. They might not have  runway.

27:35

But through an IPO though, is Coinbase profitable or do lose money? Oh, they’re definitely profitable. They’re, mean, Coinbase is a publicly traded company, but they’re also huge market size and they’re probably, a lot of it’s probably due to them being early. man, there are lot of public companies still don’t make money. Like Tesla was losing money quarter over quarter. Like Uber, Lyft, there’s a bunch of them out there that do it. They break traditional norms.

28:05

If Coinbase is profitable, like, it just kind of makes it seem like it’s a bubble. I don’t see how you take something that’s not profitable.

28:16

in  the exchange way and make it profitable down the line. Just in my mind, I don’t know what they’re going to do. Like maybe they’re going lean into credit cards more and all of that. And they’ll be able to churn some  profit from fees and everything. Also, I notice a lot of them do Coinbase included. If you own like 200K in Bitcoin, you get 4 % interest  or 4 % back on this or this and that. if you do it at  Gemini, they’ll do the same thing. I’m interested to see

28:46

like what that looks like  yeah  well this came out according to this article by Reuters  this information of Gemini not being profitable came out through the US IPO filing process from the Winklevoss twins which is actually really interesting  I also don’t know how they run the business because there’s  there’s twins are they both CEO like I’m kind of interested to see how that works  which you can probably find out by googling according to this article and you know in this section here

29:15

The company reported a net loss of $282 million on a total revenue of $68.6 million  in the six months  ending June 30th,  compared with a net loss of $41.4 million on revenue of $74.3 million earlier this year. Now,  US IPO activity has rebounded in recent months  following a slowdown earlier this year caused by uncertainty over trade policy changes.

29:45

with several new listings drawing strong investor demand. So it’s kind of interesting seeing, you know, things unfold. One more thing here is digital asset companies have also featured prominently in the IPO market in recent months. We saw that with Circle here. It goes right into it, including Blockbuster debuts from the stablecoin issuer Circle and cryptocurrency exchange Bullish. So now that one’s backed by Peter Thiel, Bullish. it’s an also, it’s another pretty big company.

30:13

I forgot to mention them.  They’re also part of like the more recent  crypto based companies that are IPO-ing. So it’s really interesting to see that. Gemini filing for IPO, it’s interesting because they’re losing money. also… probably a good buy because they’re going to treat the IPO as like a meme coin and it’s going to fly no matter what. Dude, yeah. So, I mean, if Newsmax  IPO’d like in 2022  and they had a breaking, you know, skyrocket…

30:44

I don’t know what to call it like value by the end of day, you know, I can totally expect the same to happen here in Gemini. We also saw with with circle. Yeah, circle. There’s been a few other ones too that are crypto based that fly off the handle and make everything like crazy. Yeah. So one more thing I’ll mention is now.

31:08

Gemini, again, known for its, it’s the central exchange. It’s also known for its Bitcoin card, which they did so much PR like in May, especially the Bitcoin conference of 2025. um And now they’re losing money despite, you know, everything. Well, now it was in a Twitter post, which I don’t have on me, but they announced that they are making signs that releasing another card. And this one is called the XRP card. Now this is from Coincentral, the, the,

31:38

platform. is  Gemini announces launch date for XRP themed credit card. Gemini announced the release date of its XRP themed credit card launching on August 19 to reward XRP holders with up to 4 % cash back. So when I read this to reward XRP holders with up to 4 % cash back,  it kind of makes me think I’m not sure if there’s more information, but I couldn’t find any, but um

32:08

Currently the Coinbase card, the  credit card, they only give you 4 % back if you hold a certain amount of crypto uh on their platform.  Yeah, that’s a lot. listen,  I can see it working though because they finally have this, if you’re paying for them, which you do gotta pay like an annual fee to have the Coinbase card, I think it also comes with like insurance for it.

32:36

So central exchanges, I would never put my money in there long term, maybe just short term in case I’m trying to move my money. But it’s kind of interesting how they kind of keep you in the ecosystem. I would not trust it unless they give you some sort of insurance because you know, central exchanges, it’s not your money. If you have your money there, they have the keys to your wallet. So and it’s a great tool. Don’t get me wrong. Like that’s the easiest way, my opinion, to buy crypto right now. But you if they’re rewarding you  by

33:05

rewarding you more cash back or more yield just by holding your money there  and they include insurance on top of it then yeah I think it’s a decent deal I would  not want to have more money to be able to get more money back I don’t think that’s a good deal overall but the Gemini card already the Bitcoin one doesn’t do that so that’s why I think it’s a great card so do your own research

33:30

I think it makes sense. It’s kind of cool. I like that more than the Bitcoin one. Like, just kind of for what I hold and everything. Like, it’s kind cool. love XRP. If the Bitcoin one would make sense, they still wouldn’t approve me for it. Well, okay, think you mentioned that, which that’s rough. But the TLDR from this article is Gemini announced the XRP theme card. You need to hold XRP, I guess, to…

33:59

receive 4 % cash back Gemini launches launch follows a shift in the stance on the XRP after Ripple’s legal win. you know, after Ripple kind of came on top with the lawsuit from the SEC, it’s kind of spreading this mass adoption wave. And, and the last thing is the new XRP card launch has sparked debate among Gemini users in the crypto community. So I guess kind of like how we’re having this debate right now. Yeah. Or

34:26

I could see more like an ETH one, Gemini really leads into that. That’d be really interesting. currently the only blockchains are like financial networks, know, current ones that we have right now, they’re massive or MasterCard and Visa and American Express. uh Discover maybe if it’s still its own network. MasterCard, uh Discover, I think it’s American Express, then Discover and then now KappaOne owns Discover which makes…

34:55

uh another competitor to like Amex because  Visa doesn’t issue their own cards they use partners and get a master card. Okay yeah that makes sense. So you know inherently blockchains are just their own financial systems you know Bitcoin is one it’s the slowest and the oldest. Ethereum is the second oldest and it’s  also kind of slow Solana is supposed to be the more faster one um XRP might start to see a more shift to

35:24

to where it’s got more DeFi tools. Right now it’s kind of centralized. I don’t know what’s happening in the XRP blockchain. It’s kind of hard to tell. Maybe they spend most of their time, you know, fighting the lawsuit and then trying to issue their own stablecoin, the RLUSD. But beyond that, there’s  really not much to know. I know banks are supposed to, are trying to use it um in their back end. So we’ll see what happens. That’s pretty much the news for the week. So if you guys have any…

35:52

anything you would like for us to discover or any thoughts on how we want to, what you want to see in the podcast, please let us know. We’re pretty open. Like, subscribe, do all of that to the video and then check out social market at socialmarket.tech. Yeah. Our website’s actually going to get upgraded before the end of the month. So next episode, you’ll probably see it. Yeah. All right. Great. Well, thanks everyone.