Episode 29: From Fear to On-Chain: Nvidia’s Crash, MasterCard’s Wallet Push, and Coinbase’s Big Reveal

00:00

Hey everyone, welcome to an episode. This is JR, founder and CEO of Social Market. My name is Leann Hitchens. I’m the chief marketing officer here at Social Market. Yeah, and this is Social Ledger Report. Welcome to another episode where we talk about the markets, the state of the economy, crypto, mostly crypto. um Yeah, in this week’s episode, we have quite a lot to talk about. So first,  we’re going to talk about the markets crashing after Nvidia released its quarterly earnings. uh

00:27

I think a lot of whales were just selling. have some friends who  do  a lot of this stuff, so I’m going to read some of their texts  and without mentioning any names  and get y’all’s thoughts on that. And then MasterCard expands its uh crypto credential program to self custody wallets.  That was a post that was made and uh we’re going to talk a little bit about it.  then Coinbase actually released several product updates  and you know, over the course of this week and a little bit.

00:55

like a week before that we didn’t cover.  So first,  the product announcement for December 17th  at  2 p.m. Pacific time.  In my opinion, might be something to do with base,  but who knows?  And then  Coinbase and Caoshi enable USDC transfers  within the Caoshi app. So that’s actually pretty exciting.  And the last one, JP Morgan  is  integrated  in  the base app. You can swap JPMD for USDC. So we’re gonna do a live demo.

01:25

about it here in a moment  and try it out.  So yeah, before we get started, make sure you like this video, subscribe if you want to watch these type of content.  Dislike if you dislike it. uh This helps us massively. It helps us to create more of this video, more of this content for you.  And yeah, let us know what you think. All right. Let’s jump in.  I’m kind of excited. I want to talk to JP Morgan stuff  on bass. I think that’s a really interesting one.

01:54

It really is. So first, why don’t we do a good old traditional thing we like to do and we look into the markets. So this is social market, has evolved quite a lot since showing you guys and it’s still growing and it’s still expanding. So if we go into the markets page, we can see that. Yeah, I mean, first of all, all coins even is still leaning towards Bitcoin, which is unsurprising. Fear and greed in the next is at 14%, which is like extreme fear and inflation is still sitting at 3%.

02:25

Gold is down by 0.7 % and Invesco QQQ is still right around right below 600. I know it was at 600 for a while. DIA is still sitting at 462 and S &P is actually below 700. So that’s pretty interesting. Do you have any thoughts? Yeah, a little bit. Obviously the fear is setting in on the crypto world.

02:53

Bitcoin out right now, like 90. Bitcoin is sitting at 84. yeah. ETH at 2,700. Like a lot of these are pretty, they’re pretty flat and holding kind of at this new low, but there’s a lot of worry in the market right now, especially because, you know, covered.

03:19

Shutdown created liquidity problems.  then after that, I think that there’s to your point, maybe some wells that are selling, but also what I kind of keep hearing is that that there’s uh a wave of people that are just shorting it on,  on, on a view that, you know, obviously the, the Trump admin is  very supportive of crypto. So they’re just trying to kind of push out and

03:43

in crush crypto, which is I think an interesting take on it. I think it’s a very like conspiracy ask take. But there is just a little bit of weirdness happening right now. uh I think on a long term view, this is not abnormal. We could just see these crunches and it happens. And 10 years from now, we’re going to look back and go, oh man,  the one million dollar Bitcoin  rumor when it was 85 K and  you know,  2025.

04:13

But also it be a long term winter here. We could set in and see Bitcoin sit maybe at 85, 90,000 for the next couple of months, maybe a year, maybe more. I don’t foresee that totally happening, but there is an interesting amount of market movements that just don’t really line up to what should be happening, especially as everything’s going on chain and everything’s being pumped in.

04:43

Yeah, I mean, honestly, I think it’s really interesting seeing how everything unfolded. ah I think I would blame Peter Thiel and then  who  sold a lot of Nvidia and then there was Michael Berry who  kind of started everything that has brought us to this point when he  tried to short Nvidia and Palantir, which funny enough, Alex Carp, who is the founder of Palantir,

05:09

has said so himself that you know Michael Berry is an idiot or something to that degree.  I don’t remember the exact wording but he  know he called him an idiot or a something like that. Funny enough he actually sold 65 million dollars worth of Palantir.  I believe that’s the exact number let me confirm.  I’m gonna ask good old ChadGPT how much did  Alex Carp  sell  in Palantir?

05:39

And this was very recent. not sure what you’re doing, like, uh, so Palantir right now sitting at, you know what, let me share my screen here. Just be sure. Sure. Cause I was like looking at it myself too. Okay. As as you said 65 million, was like, Oh, I’ve not seen this, this news. There’s been a little bit too much news to follow around. Oh, okay. Really? I did not know that’s how it shows up dynamically in chat GPT. That’s very, love, I love this. I actually use this all the time. So

06:09

Palantir is in the last day it’s down 0.87 but in the last five days negative 20 and that’s probably because of Alex Carp. So how much did Alex Carp sell in Palantir? Found regarding 585,000. Holy shit. So no it’s actually more than I thought. It’s 96 million dollars worth of Palantir that he sold. Dang. That’s a lot. Is he shorting? What the fuck is he doing? Why is he selling so much?

06:39

Yeah, that’s an interesting, know,  also, I think part of this is it’s coming out right now that planet here and you know, this government, this government  surveillance system has been out there. It’s working with ring. It’s working with flock. It’s, know, they’re putting cameras in traffic cones to track people. They’re, labeling everything. So I think there is a very,  a very scary moment for planet here right now because they could become something that

07:08

everybody knows who they are when in reality they probably want to be the ones that nobody realizes who they are and just kind of keep uh  you know rolling along  yeah yeah so that’s fun now let me share my screen one more time and this time i’m going to share my conversation that have with grok we’re gonna uh

07:31

used AI quite a bit in today’s episode. So I asked it, hey, so give me more details on popular posts about market crash after Nvidia quarterly earnings this week. And it said Nvidia released its fiscal Q3, 2026 earnings on November 19th, which was just a few days ago, reporting revenue of 57 billion, which beat Wall Street’s consensus estimate of 54.9 billion by about 4%. And

07:56

Representing a 62 % year over year increase earnings per share EPS came out in a dollar and 30 cents Which surpassing the expected a dollar and 25, so I don’t know like the whole heuristics on that, but I think it’s I mean I think it’s really interesting This whole this whole nonsense with the video, you know chips Being being delivered not getting paid from 43 days now up to 53 days You know, I I saw how they gave

08:26

uh X AI you two billion dollars for X to essentially go get a line of credit or some debt financing at 12 billion dollars to then go buy 12 million dollars of chips. was essentially them financing  a deal for  X AI which I thought was fascinating.  There’s just so much market pressures right now and the market is really carried by tech stocks. QQQ is a prime example of this.  It’s carrying the whole market.

08:56

40 % of the S &P 500 is its total valuation is based on only seven companies. Meta, Google, Apple, Nvidia, Tesla. I forgot the other two, but you know, those are five, two more, and probably Oracle if I remember, but it’s crazy. Oracle was one of the big ones on there, yes. That was the larger ones too. Microsoft, I forgot to mention them. So yeah, that’s probably seven right there.

09:23

So here’s what it says and here’s what I think it’s really interesting that could indicate largely why we’re here right now, why  just your Bitcoin’s worth not as much as it once was.  So key factors behind the reversal included  renewed fears of an AI bubble, which investors questioned whether massive capex on AI infrastructure, for instance, by hyperscalers like Microsoft and Amazon  is translating the proportional  revenue growth fast enough.

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Profit margins for the S &P 500  hit 13.1 % blended for Q3, but  concerns mounted over stretch valuations in tech. Mixed US jobs data released on November 20th,  showing initial claims at 213 below estimates, but continuing claims raising  dampened hopes for a December Fed rate  cut, with odds dropping from 75 % to 150%. Broader macro worries like the late October jobs revision until December 16th.

10:20

That is read from Bloomberg. I don’t know who fucking wrote that, but that was kind of a mouthful. Essentially, you know, there’s still like speculations that we are in a bubble because there’s job being cut. is, you know, obviously the S &P 500 is doing really well, but again, only by seven companies, which is 40 % of the total valuation. you know, Bitcoin fell below 80 % $80,000 for a moment as AI and tech sentiment spillover.

10:49

Did it really fall over 80 %? That’s what I am not entirely sure. % but 80k, yeah think it thought it did. Or it was very close, right? I believe so. So I’m actually in the developing environment here on Social Market. And if I look on the chart for last five days, dang, I think it did drop below, very below 80,000. It was like right around that.

11:19

Yeah.  Uh, thanks. you filter for five days, does it tell you the all the  five day low?  The five day low? No. So that’s actually a good, a good thing that we can add down the road.  Uh, mostly we’re doing other things in the app, but yeah, it’s not telling us. And this is actually a trading view indicators. So we can probably  make this a little bit more dynamic actually.  Um, but yeah.

11:46

Crazy. So do you remember this, Leon? I shared it with you recently.  So I love Wolf of Wall Street.  It’s an amazing movie.  And this is what I found.

12:10

At 85 right now, so I wouldn’t look seven day low was 82 175 Yeah, 82 175 was the low right now so dude that is insane dude, like I don’t know people are so They feed into wrong in their own narrative where man if Bitcoin drops below just a certain certain level it just it’s it’s joker, you know, we’re

12:39

Yeah, because you had a bunch of  outflows from ETFs.  was like $600 million  worth of outflows.  But then on the flip side, have New Hampshire having a Bitcoin collateralized uh bond. um There’s deposits of  Bitcoin from Coinbase. MicroStrategy is buying a bunch.

13:04

There’s two sides of this market that’s very fascinating. The folks that are like, buy, keep,  you know, diving in, like everything’s going on chain. The chain is the future.  And then  you’ve got the other side of it, like freaking out, kind of melting because they’re institutional money. So it’s, know, like, uh, you know, you just somebody buying, you know, like some fund buying Bitcoin as part of their investment strategy, you know, like it’s, it’s just like, uh, the

13:30

Bernie made off stuff when the firefighter funds, you the retirement funds are putting money into his stuff. Like the same thing happens here, like Black Rock’s dumping money in places. So I think that there are sides of markets that understand what’s going on. And then there’s a side of market that’s just like, hey, this is this is not cool. And we’re just going to dip out of Bitcoin, go to some safer assets and not deal with it. Yeah. So one more thing I want to talk about here is and

14:00

This is kind of like putting it a rest with Nvidia. I know we’ve talked about it for quite a bit, but I was on Twitter the other day and I believe I shared this with you. So I’m just gonna open the image itself. says, the algorithm that detected a $610 billion fraud, how machine intelligence exposed the AI’s industry circular financing scheme. And it kind of just talks about the, and I won’t read it all because it’s a pretty lengthy post. I think it’s really interesting.

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You can read the full story on their sub stack. We’ll have the link to the description on the description below if you’re watching this on YouTube. But essentially it kind of ties back to this whole inbreeding money moving between the same companies, whether it’s through an investment, it’s through a chips deal, it’s something to that degree. So one thing I forgot to mention is, and this is of like the last thing I’m gonna add, in Nvidia’s rep…

14:57

Reporting for like the the quarterly reporting. So they actually said, know, it was like over a 50 billion dollar Reporting, I believe it was  a much higher value than even Wall Street wanted, right? um However, and this  this is what I will read from this post meanwhile Nvidia stockpiled 19.8 billion in unsold ships up 32 % in three months, but management claims demand is insane and supply is constrained

15:25

Both cannot be true. Either customers aren’t buying  or they’re buying without cash.  So that’s the red flag.  They in their quarterly reportings, they’re saying, yeah, dude, we made all this money. However,  I’m guessing this algorithm that they’re using, whoever, whatever it is.  About almost 20 billion of all that money made in the last quarter  was from unsold chips. So they’re either  doing like some backdoor deals  or

15:55

It’s  fraud. It’s not really real money that’s being made.  What do you think of that?  I think it’s just money that’s moving around. this is really hard for these types of companies, especially B2B. It’s not uncommon to pay on net 30 or net 90 terms or kind of push things back. Also,  it’s not uncommon to not pay your vendor not on time.  A lot of these big businesses will  try to float their extra pennies to

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to cash in on, you know,  some extra interest or also just to maintain something. So  I’m a little bit on the side of like, Hey, there’s definitely something happening here. This is really interesting. It should be watched. But I think right now it’s like not an uncommon thing that’s that’s  happening. You know, they’re financing stuff. They’re doing it like there’s only so many big companies that can just throw down cash Facebook, you know,  Microsoft, Oracle,  the rest of these are

16:53

are doing everything on borrowed money. Like I think the number is $3 trillion is being deployed into AI and data centers, trillion. And then only like one of that trillion is actually like real cash. The other two of that trillions like financed in some capacity venture backed or something. Yep. I mean, they’re going to private money loan lenders too. So like you can’t see the outflow and flow of this money.

17:21

You know, JP Morgan has to report that, a private lender, they can kind of more or less do what they want. Didn’t you tell me at one point, with farmers, and this is just an example, like with how B2B works. When it comes to B2B, like in H-E-B, you here in Texas, you have, you know, it’s first and foremost, not a grocery store. It’s more of a tech company. It’s a billion dollar tech company, right? But they do offer groceries. So the thing with it is,

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You know they get all their groceries or fresh produce from farmers, but they don’t pay immediately these farmers, you know, until I guess a certain quota. Yeah, it’s like they have to sell it. There’s, payment times. There’s payment terms. How much you get paid if you get your money faster. They take a percentage. It’s no different than like a Venmo. If you want your money in seven to ten days, you know, it’s free. But if you want it faster, it’s a dollar ninety nine. If you want the fastest might be two ninety nine.

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The same thing happens everywhere in the world, like even on the marketing business that I’ve run, like in the past. Some folks are like, hey, I want to pay net 30. Some are like, hey, I would like net 90 terms. And then you have to negotiate. Like it’s always a negotiation on money. Like whenever we try to do it, we try to never pay all the money at the same time. You know, even on deals that we do, it’s like, hey, we’ll pay you upfront. And then we need a 90 day term after that. Like it’s always going to happen because it’s going to make.

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the best terms for us to keep that money, that cash on hand. Same thing with a lot of these companies, I bet even on their debt flows,  they’re probably saying, Hey, let’s try to finance some of this money. Let’s keep some of this money on hand to do something else. And  there’s just, you know, all of that happening out there. Yeah. And it’s interesting people and investors tell me B2B is more predictable money than B2C.  And I’m like, not really, you know,  it can be a little bit more predictable. Sure. Like based on the

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business model, but  businesses also don’t pay immediately or at least when the bills are due. So it’s kind of like the same thing. So I think, you know, people would need to learn that more and understand how that works more.  Oh yeah. But all right.  So for now, um man, I have so much more I want to talk about the market, but we do want to cover other things that we said we would cover like the MasterCard and

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It’s expanding  its crypto credential program to self custody wallets. I think that’s pretty big because  crypto wallet, self custody wallets, it’s kind of like the new medium.  Ever since  FTX collapsed, people just stopped relying  on  self custody.  Excuse me. um After FTX collided um or collapsed,  people stopped using central exchanges, which is part of our thesis, part of  mode  at social market. We are a self custody wallet that gives you security and

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We want your crypto from losses because our security is really that good. I mean, shameless plug out of the way, right? But I mean, it’s really is really where the market is moving. The market is moving to more defy, more decentralization, more self custody. And that’s kind of like the the moat of crypto. You don’t need to rely on central authorities or banks or governments to handle your money. So MasterCard doing this is amazing, in my opinion.

20:46

Yeah, they’re putting on the polygon blockchain. Um, it looks like they’re going to use the polygon, naming system too. Um, really? Yeah. It, this will be the interesting part of how, how it goes. Like, I think this is kind of like, um, every fight in the world is what becomes like the main, standard. It’s just like a beta max of VHS, know, TV, uh, DVDs. And then it was like the.

21:15

Xbox had those like HD DVDs and stuff. So  I think we’re gonna see kind of like what sort of stuff works um you know, I  feel like one chain can Handle majority of stuff in the future and I bet you there would be different currencies and stuff But  I bet you there’s gonna be like an underlying infrastructure that powers  majority of like Wallets and what majority people use just like in the United States. It’s iPhone. But if you go anywhere else in the world, it’s Android

21:45

Yeah, I mean, that’s a good point. So this is from coinmarketcap and this is on Twitter. says, latest MasterCard has expanded its crypto credential program to self custody wallets. We already said that. Now this allows users to send and receive cryptos using verified username style aliases instead of complex wallet addresses. So this, in my opinion, is huge because the biggest issue with crypto right now, it’s how clunky the UI UX is. Sometimes you need to send the

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If you want send crypto in the style that you can send money with Cash App or Venmo or even Apple Pay, Apple Pay is probably the best in the industry because it has several methods. You can just put your phones on, you can tap tips  in a non-sexual way, right? You can tap tips  and  it sends the money.  But  with crypto, it’s far worse because you need to scan someone’s QR code. And in some cases, I think Coinbase has been better about this,  the best one in the industry, but

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Otherwise you need to either manually, this was back in day, you to manually ah insert the address, which is long and complicated,  but you can also copy and paste it and you could hopefully,  in the event that you’re doing so, hopefully you’re not putting another character or another letter in your keyboard because it’ll send all your money to another address that you didn’t even know about. Yeah. And I think the names that are coming out on Polygon are pretty cool.  Base is played with it. uh know, Ethereum has access to that.

23:14

I’ve never seen that, I’ll be honest. What, the… The username, Polygon usernames?  You know, I haven’t used it, but I’ve seen people talk about it out there. um It’s just like the ENS system where you can send stuff to like, leon.ens or something, like…  It’s the same thing with Polygon. um I think oh that new one on base, called Moan,  or Ma-Mana, whatever it’s called. um It’s gonna have a…

23:43

system, it has a system of just using  names and stuff too. Like Phantom Wallet has a name system now. uh Phantom Wallet too, like,  you we talk about that a lot. uh Like when I went to go create a new wallet, you don’t even need to create a wallet with a uh recovery phrase anymore. You just need an email.  I was like, that’s very interesting. That’s amazing. And yeah, I think this is the direction crypto should go because uh some people might be like, oh, well it’s becoming too centralized. You know, all these big companies are jumping in.

24:13

No, I think this is what has to happen in order to make this industry more  useful and more accessible to everyone  in the world. So, I mean, this is from Polygon. It’s got its blog post that says MasterCard selects Polygon to power verified username transfers for self custody wallets. uh MasterCard, Polygon Labs and Mercurio are bringing verified alias based identities to self custody wallets,  simplifying crypto transfers  and advancing the next generation of global payments.

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You can read the entire blog  on the description. You’re watching this on YouTube. But that’s amazing. I’m actually super excited.  Yeah, like  I think we’ll see what what plays out and how it pans out. I’m excited to see  the large banks and large institutions start accepting and adopting this because I think  it’s going to lead us into  that adoption phase where everyone’s doing it. Yeah,  Great.

25:11

I know that one’s going to be a little bit more of a short story. Let us know what you think. Like this video again. Shameless plugs real quick. Like this video if you like it, dislike if you dislike it. If you want to watch more of this content, just subscribe to the channel. It helps us a lot. All right. Anyways, let’s talk Coinbase. I think from here on, it’s just going to be a lot of Coinbase talking points. Coinbase unveiled its product release or their product announcement on December 17th at 2 p.m. Central.

25:41

Or excuse me, 2 p.m. Pacific.  We live in Central Time, so  it’s just a norm for me to say that.  So here it says, this is the original post and it’s from Coinbase themselves.  Exciting product announcements.  So product announcements, so that’s in plural. So there’s gonna be several products.  Key business updates  and lots of other cool stuff.  Well, we’ll see what cool stuff they have. A new era of Coinbase’s beginning. So what’s really interesting is this graphic, which by the way, amazing graphic.

26:10

They have this this cube around the Coinbase logo and this is just my prediction. It has something to do with base. And I also saw somewhere on people’s people who are with base like Jesse Pollock, they were explicitly saying like, oh, base is going to have like an update or an overhaul or something, which I’m actually kind of excited for that. So in my opinion, yeah, it’s just going to be another Coinbase and base.

26:40

uh,  integration,  but I’m actually kind of excited to think there’s a possibility they at least outline their token.  Um, I don’t know if they’ll, I don’t expect the token launch this year. Like we could check Polymarket  here. I’m like, I’m very interested in that,  but I think they could at least  outline a, um,  launch plan or what.

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what will happen. So like there’s this discussion by December 31st or December, you know, 31st, 2026 or 2025. think, okay, this one makes a ton of sense. you know, buy this at, you know, the, the rate. Um, it makes the most sense in the end because I think even if they outline a token, they’re going to have to turn around and, know, set it up and everything. was a little surprised that, you know, Coinbase didn’t

27:33

launch with their own token as an ICO product within Coinbase on the get-go versus launching with this  Monon  one.  So I think they could talk about that and then say, hey, this is what our token is going to look like.  Nice. Okay.  I’m actually excited.  I’m here  on,  if we’re talking about prediction markets, which I always love to talk about them, it’s  my new favorite medium  of

28:03

betting or trading.  And this is kind of why I still like to use Polymarket just because  it is more crypto native.  I mean, Caoshi, we’ll talk here about more about Caoshi using Coinbase.  So I look at Coinbase and I’m not seeing any base predictions.  So sometimes it just feels like  the predictions you can make on Caoshi as far as crypto are pretty lacking compared to again, Polymarket. So

28:33

You know, let’s look at Polymarket. I don’t think I’m gonna log in, but if I look at Coinbase, and again, you just shared the one about base, so that’s a prime example, but look, hyperliquid listing on Coinbase in 2025, you know, that’s a pretty cool trade. Perp software more than 10x leverage, which CEO will be gone in 2025, which looks like Brian Armstrong is somehow here, which I would not bet against Brian Armstrong.

29:02

But look, there’s like a whole section for crypto, which again, there is one as well for, for Caoshi. But I mean, a lot of it is not just like crypto movements. You can see, well, will Satoshi move any Bitcoin in 2025? Obviously no. But you’re seeing things like, well, Metamask launched a token by, you my point here is, and, and, you know, I’m trying to be brief here. My point here is on, on Polymarket, there are far more

29:33

bets  about crypto than there are  on Caoshi.  Caoshi I feel like they’re just leaning in more  on sports, on politics  and culture. So while we’re still talking about prediction markets,  so Caoshi uh made a kind of deal I guess with Coinbase where they’re now enabling USDC into Caoshi, which  amazing.  I don’t want to pay. uh

30:00

I don’t want to pay a lot of transaction fees nor do I want to wait three days to move my money. So I’m obviously going to be using USDC. Cache users can now deposit and transfer USDC, which is powered by Coinbase. That’s the essence of the post. So I say we try it out right now. So here I am. pretty much logged in on Cache with my account. If I do deposit cash debit card, you know, it’s a 2 % transaction fee bank transfers. There’s no fees.

30:29

but you can also do higher deposits. With crypto, you get higher deposits in just 30 minutes.  The fees vary, which is pretty much gas fees, also  service fees, suppose. So if I go to crypto, waiting for this to load, I can not only send USDC, but I can also send all that kind of tokens. So that’s kind of interesting. That’s impressive that you can send almost anything, but  it’s powered by zero hash.

30:58

So I wonder if  this is not the Coinbase iteration of it. Yeah, that’s interesting. Maybe they’re  doing an update because  USDC is supposed to be powered by Coinbase, but they have zero hash. So that’s interesting. So I can select the USDC network. And this is kind of what I mean by the UI being a little clunky, clunky, my bad. So first token,  you know, it’s actually interesting that you can send PayPal, USD and  Ripple.

31:27

Ripple Laps USD, so those are like other stable coins.  is another stable coin. USDT is another stable coin. ah WIF, I think this is a meme coin, so that’s interesting. With… Yeah, there’s a lot, a lot out there of just random stuff.  There is. So let’s say we do USDC. Okay, we’re gonna select the network. So I’m gonna go with BASE because it’s the cheapest network.

31:55

It tells you your limits, 40 % fee minimum $1. that’s .40 is what I mean. It’s kind of high, but I don’t know how to feel. And yeah, you can just send it, copy your address and yeah, that’s my address. If you guys want to send me some USDC, that’d be nice. But all right, that’s cool. I like this. That UI is not super clunky. I think it’s a little confusing when you’re… No, actually I like that flow because it says pick your token and then pick the network.

32:24

Maybe if there were like a little infographic or a little tool tip that says,  what’s this about? That’d be even better.  But I’m just thinking here on the perspective of just your average consumer.  So yeah, that’s kind of cool. Okay, I gotta jump.  JR will keep running and then we’ll keep the show going. Okay, so it’s just me now. Leon is a family man, so he had to take care of some stuff with his family. So it’s just you and me.

32:52

All right, so I guess for our last story here  is JP Morgan clients can now swap JPMD for USDC on base, which that sentence should break the internet. JP Morgan payments move trillions per day. It dwarfs the entire stable coin industry. This is how  1000X more dollars go on chain. So it’s kind of interesting. uh I know the liquidity or the amount of money that is transact every

33:20

every year on USDC it’s in the trillions but if JPM  is in the trillions per day then yes that is  a 1000x  so that’s actually really cool i’m not going to read the entire thread you guys can read it on your own if you’re watching this on youtube  but if you’re watching this on if you’re tuning in on audio i’ll just show you kind of explain the visual here so it says the title how JPMD connects USD works  i’m assuming that’s what the characters look like um

33:48

So on the left side, have JP Morgan at the bottom and above it, there’s a square that says Coinbase ecosystem. Coinbase client  has like little, it’s kind of like a flow here really. So you have a Coinbase client which holds USDC stable coins and they have pretty much three options. One, they can custody, which stays with Coinbase self custody  or self hosted.  Coinbase custody, guess it talks about the central exchange.  They also have the base app, which is self hosted, which is self custody.

34:18

Or you can open a system. It says open a system  or you can move it to base the public settlement layer, which um I think base is trying to create its own payment settlement uh protocol because it’s not just base is trying to be this everything app where it’s not just self custody, but it’s also like, you know, like a public settlement layer, I suppose.  And I mean, there’s still a lot that I don’t know. So I’m excited to see what else there is to develop from base.

34:47

And then it says instant swab, JPMD and USDC is where you can swap this and it transacts on neutral ground, which, you know, it,  goes down this graph to the bottom here, here where it says public blockchain rails, 24 seven settlement. So that’s kind of interesting.  Um, but on the right side, you have Coinbase and it says JP Morgan ecosystem, the JPM institutional client holds JPMD tokens through bank deposit tokens. This is kind of a interesting.

35:17

chart it’s not very clear so i don’t know who made this it says fintech brain food made it i think well anyways  uh just to wrap it up here on the right side where it says coinbase um you’re saying it says that you know you can  have a jp morgan account a bank account but you can actually  buy jpmd tokens from what it looks like  i’m not a jp morgan banker i bank with another bank that’s pretty big that i won’t even mention

35:46

for my own safety, but for you, if you are a JP Morgan customer, see if you can buy USD JPMD tokens. That’s actually really interesting. I’m not entirely sure how that works. Real side note here. I’ve been trying to connect my iPhone through my Mac. I have a M1 Pro Mac. I love it, but you know, right now after updating to Mac OS 26, like the latest iteration, my entire shit does not want to work. So.

36:16

I unfortunately cannot do a little demo of doing it, but if you have the base app, which I think they’ve been rolling out access, so if you have the base app, you can actually go in the swapping mechanism and you should be able to swap your tokens there. But yeah, that’s pretty much everything for this episode. Gonna wrap it up here a little bit quick, but yeah, this is JR, founder and CEO of Social Market. My partner is Leon Hitchens. He had to step away briefly. Make sure you like this video if you like it, subscribe if you want to see more of this type of content.

36:45

And if you dislike it for whatever reason, can click dislike. And if you have any thoughts, leave them on the comments. But yeah, this has been JR  and signing out.