Brian and Daniel discuss their observations of cryptocurrency market prices. Specifically, that they tend to go up and down together more often than they do not. They then provide some explanations for why that might be, but also point out that it's still a bit unusual given how different many blockchain projects are from each other - like gold and shoes.
Brian and Daniel then go on to explain how market prices reacted to the Security and Exchange Commission's (SEC) complaint against Ripple Labs., Inc, Bradley Garlinghouse, and Christian Larsen. Understandably, the market saw the SEC's complaint as negative for XRP, but at first the market also appeared to believe it was negative news for XLM too. Both Brian and Daniel found this a curious market response and attempt to break it down a bit.
The discussion then leads to security law in the United States and what makes something a security. They attempt to explain the Howey Test and the "family resemblance test" as laypeople and how they believe it may relate to Ripple, Stellar, and other digital assets.