reSee.it - Related Post Feed
@Jason - @jason
XRP is obviously a security It would have cost little for the Ripple team to have registered it as a security and played by the rules —- like everyone else in the industry does all day long $xrp
@ScamDetective5 - 𝕾𝖈𝖆𝖒𝖘 𝖆𝖗𝖊 𝖇𝖆𝖉 🗝 91.22%
There is a lot of misinformation going around the #XRPcommunity claiming that the SEC said #XRP is not a security. This is FALSE. This statement is based on Exhibit 220 in the Hinman Doc drop. This Exhibit was written by a law firm to Grayscale regarding its XRP Investment Trust.
@ScamDetective5 - 𝕾𝖈𝖆𝖒𝖘 𝖆𝖗𝖊 𝖇𝖆𝖉 🗝 91.22%
Here is the document everyone is citing; we can see it is Document 831-79. We can also see in today's filings (Jun 13, 2023) that in filing 831, exhibit 220 is #79, thus it is Document 831-79.
@ScamDetective5 - 𝕾𝖈𝖆𝖒𝖘 𝖆𝖗𝖊 𝖇𝖆𝖉 🗝 91.22%
We can see this Exhibit 220 referenced in another document released today, under sections 1696 and 1698 to get the context on who it was To and From. We know it was a law firm (not the SEC) but it is unclear which firm and we can also conclude it was Grayscale that was redacted.
@ScamDetective5 - 𝕾𝖈𝖆𝖒𝖘 𝖆𝖗𝖊 𝖇𝖆𝖉 🗝 91.22%
Besides this NOT being an SEC internal communication, opinion or analysis in any way, shape or form, it is a flawed analysis by the law firm by their own admission.
@ScamDetective5 - 𝕾𝖈𝖆𝖒𝖘 𝖆𝖗𝖊 𝖇𝖆𝖉 🗝 91.22%
The analysis clearly states that it was done “based on information that we have been able to obtain from public record” and if additional information exists their conclusion may require modification. In fact, there WAS additional information that affected their conclusion.
@ScamDetective5 - 𝕾𝖈𝖆𝖒𝖘 𝖆𝖗𝖊 𝖇𝖆𝖉 🗝 91.22%
One of the main reasons they gave for XRP not being promoted as an investment of money, was Ripple not arranging for secondary market trading of XRP, which would suggest that it was being sold as an investment (by the law firm’s own admission). This was FALSE.
@ScamDetective5 - 𝕾𝖈𝖆𝖒𝖘 𝖆𝖗𝖊 𝖇𝖆𝖉 🗝 91.22%
We now know from the lawsuit that in FACT, Ripple did arrange for SIX exchanges to list XRP, paying between $1-$5 million dollars in 2017. This was before the law firm wrote this opinion but they did know about this since it was not PUBLIC information. So much for transparency!!
@ScamDetective5 - 𝕾𝖈𝖆𝖒𝖘 𝖆𝖗𝖊 𝖇𝖆𝖉 🗝 91.22%
Obviously, this alters the "reasonable grounds" conclusion of the law firm. Of course, we all know the conclusion of what Grayscale and the law firm NOW think, based on the XRP Trust, it is now a tiny footnote in their Investor Pitch Deck. Let me zoom in on that for you.
@LindaPJones - Linda P. Jones
In the early days, Buterin, Tron and other people appeared at the Ripple office as interns and employees. It now appears they were sent by the Fed and China. https://protos.com/consensys-lawsuit-jpmorgan-owns-critical-ethereum-infrastructure/ The Fed banks knew Ripple would create a level playing field which would take their power 1/8 https://protos.com/consensys-lawsuit-jpmorgan-owns-critical-ethereum-infrastructure/ The
@LindaPJones - Linda P. Jones
and could make them irrelevant. What to do? Quick! Let’s start Project North Star and create our own crypto ecosystem! Gather the attorneys and determine a “safe harbor” that will give our crypto an advantage and shackle Ripple. How? Well, we could say our crypto is 2/8
@LindaPJones - Linda P. Jones
sufficiently decentralized and Ripple’s isn’t. Great idea! Earlier, Buterin and a group created ETH, gathered investors and raised a fortune in the ICO. Lubin was the front man organizing it for predominantly JP Morgan, and their WallStreet and VC buddies. 3/8
@LindaPJones - Linda P. Jones
Meanwhile, just to throw everyone off his scent, a certain bank CEO screamed “Bitcoin is a fraud!” while approving the BTC ETF on its investment platform. He appeared to be anti-crypto while developing the bank’s own version. 4/8
@LindaPJones - Linda P. Jones
The bank bought a piece of Consensys, Meta Mask & Infura and also introduced its own crypto coin, Onyx. Unfortunately, the crypto that competed with Ripple’s (ETH) was slower, costlier and frankly, substandard technology. 5/8
@LindaPJones - Linda P. Jones
Congress and the SEC avoided passing any laws in the US about crypto, so the WallStreet and banking gang could manipulate markets any way they wanted to and make billions. Without laws, anything goes. Price manipulation, 6/8
@LindaPJones - Linda P. Jones
Insider trading, collusion, they can get away with all of it. However, they pulled one heist too many. Switzerland is auditing the illegal transfer of Consensys into Consensys Software Inc. (see article) and the fraud will be uncovered in my opinion. 7/8
@LindaPJones - Linda P. Jones
In the meantime, we await the judge’s decision & know without a doubt that we hold the superior crypto: XRP. 💜
@LindaPJones - Linda P. Jones
@UnrollHelper
@CryptoLawUS - CryptoLaw
SETTLED LAW: The XRP token itself is not a security. Choke on it.
@Prolotario1 - Ariel
What have I been telling you guys? XRP is ISO-20022 Compliant. You think Bitcoin will last now that the shackles are off from XLM/XRP? This case confirms everything I have been telling you guys. Why do you think the IQD is pegged to XRP? https://www.google.com/amp/s/cointelegraph.com/news/ripple-wins-case-against-sec-as-judge-rules-xrp-is-not-a-security/amp
@Leerzeit - Mr. Huber🔥🦅🔥
Let's remember: @coincenter @jerrybrito hoped XRP will be declared a security. When the SEC filed the lawsuit, they tweetet threads to bitcoin and ethereum arguing they are not securities. Which they couldn't say about XRP. They now deleted this tweet https://t.co/nEIdkfj9EP
@HODLmaxi - Pompous Maxi
🚨BREAKING🚨 Judge Torres might as well have been quoting Coin Center in the @Ripple ruling 🙃 @Leerzeit @digitalassetbuy @NerdNationUnbox @DigPerspectives @TimR614 @sentosumosaba @JohnEDeaton1 Tangents from Coin Center: Analysis of SEC vs. Ripple https://youtu.be/FFNY3AZpw8A
@bgarlinghouse - Brad Garlinghouse
Reminder - the request for appeal (even if granted) doesn’t change the fact that XRP is not a security. That’s not up for debate / trial. But the SEC continues to claim that Chris and I acted recklessly in believing that XRP is not a security. That’s utter nonsense. 1/2
@bgarlinghouse - Brad Garlinghouse
The Judge’s July 13 ruling said that the SEC would be put to their proofs at trial regarding their claim against Chris and me. We look forward to proving the SEC wrong as a matter of fact and law (again). 2/2 https://t.co/qvS34XZbVJ
@FilanLaw - James K. Filan 🇺🇸🇮🇪
#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: @bgarlinghouse and @chrislarsensf file their opposition to the SEC’s request to file an interlocutory appeal and for a stay of all proceedings pending appeal.
@CryptoLawUS - CryptoLaw
Hey @ChrisDolmetsch - this story is false on very important facts you got wrong. Nothing in this brief is related to the XRP token not being a security. It is entirely about the CHANCE to file an expedited appeal about specific OFFERS AND SALES by the DEFENDANTS of XRP. Not the token itself.
@joeshoeth - joe sho
@CryptoLawUS @ChrisDolmetsch Again @ChrisDolmetsch is not wrong It's obvious that no item tangible or intangible (including computer code) is a security due to it's composition. -SEC IS arguing that sale of XRP to public investors is the sale of securities- because the transaction is an investment contract
@CryptoLawUS - CryptoLaw
@joeshoeth @ChrisDolmetsch It says “the XRP token is a security when…” 100% incorrect. Factually, legally, journalistically incorrect. A $100M 2.5 year lawsuit was just fought and won over that. Getting it wrong is not a small thing. It’s a very big thing.
@CryptoLawUS - CryptoLaw
Do you see what you asked? There is no “standalone” distinction like you’ve added. The underlying asset is not a security. Period. Only offers and sales (not the token) can be securities if they meet all factors of the Howey test. That’s what Ripple fought and won on. The SEC said during the case (that they lost) that ALL sales of XRP are securities because the XRP token itself “embodies” all the promises Ripple ever made to anyone even if it was one buyer. The distinction was one of the core fights of this entire case.
@Leerzeit - Mr. Huber🔥🦅🔥
Once a month I can debunk this guy. He basically argues that the judge said "XRP *itself* is not a security" so he can claim "The judge never said XRP is not a security". He reaches for the "per se" and argues that the judge did not say that XRP is never a security under any circumstances ever. I can only explain to him again how unnecessary it is at best, which is what he's been doing for months (btw. He also apparently can't find anyone who understands it, let alone supports it in any way)
@david_r_barrera - David Barrera
@CryptoLawUS In the Ripple case the SEC did not argue and the judge did not rule on the question whether XRP is a security. The SEC isn’t saying anything about whether it will appeal a ruling that XRP is not a security because no such ruling exists.
@david_r_barrera - David Barrera
@Leerzeit She said “in and of itself” not the entire Howey scheme, which is obviously and uncontroversially true. https://t.co/yi74fpRJjf
@david_r_barrera - David Barrera
@Belisarius2020 I’m not being obtuse. You’re clearly misstating what she said. She said “in and of itself,” not “itself.” There’s a huge difference there. “In and of itself” means “intrinsically, considered alone.” “Itself” just means “an emphatic appositive of it.”
@omescountu - omescountu
@david_r_barrera @Leerzeit Mr. Barrera, have you or anyone associated with Ennuma ever had contact with anyone at the SEC? Also, could you share how you plan on launching/distributing your token in a way that is compliant with the SEC?
@JohnEDeaton1 - John E Deaton
You could NEVER underestimate the damage the SEC’s lawsuit has caused - NOT ONLY AGAINST RIPPLE - BUT #XRP. THREE YEARS OF ADOPTION - that’s what it’s caused. Just how long is 3 yrs - in crypto years? People seem to forget how much Coinbase promoted #XRP before the lawsuit. See 👇 I personally doubled down on my #XRP holdings AFTER Coinbase listed #XRP and promoted #XRP’s utility. In fact, every time you opened the Coinbase app you saw this 👇
@JohnEDeaton1 - John E Deaton
“Send money internationally FREE using #XRP or USDC” is what you saw every time you opened the app. It wasn’t only @Ripple who was promoting #XRP’s utility and getting into the cross border payment business. 👇 https://finance.yahoo.com/news/crypto-giant-coinbase-launches-cross-134353914.html
@JohnEDeaton1 - John E Deaton
I made a huge point in our Amicus Brief that Tens of thousands of people in the United States 🇺🇸 acquired #XRP AFTER @coinbase’s promotion of #XRP, not because of @Ripple’s (at least after February 2019). https://finance.yahoo.com/news/coinbase-introduces-international-payments-using-113013681.html
@JohnEDeaton1 - John E Deaton
Coinbase listed #XRP in February 2019. But Coinbase didn’t just randomly list #XRP, begin promoting it and then crossed its fingers and hoped the SEC didn’t catch on to what Coinbase was doing. Not at all. Coinbase did EVERYTHING a good corporate citizen is supposed to do.
@JohnEDeaton1 - John E Deaton
In fact, in January 2019 Coinbase asked for and got a meeting with the @SECGov to SPECIFICALLY DISCUSS THE REGULATORY STATUS OF #XRP! Coinbase explained to the SEC that Coinbase had evaluated #XRP and ran it through Coinbase’s stringent regulatory framework for digital assets.
@JohnEDeaton1 - John E Deaton
This was the same digital asset framework senior staff at the SEC had publicly complimented Coinbase on. Coinbase established a weighted framework for determining whether a digital asset could satisfy ALL prongs of the Howey test. Coinbase determined #XRP was not a security.
@JohnEDeaton1 - John E Deaton
In the January 2019 meeting, Coinbase walked the SEC through its reasoning as to why today’s #XRP was NOT a security (even if in the very beginning it could’ve been). Coinbase informed the SEC that unless the SEC felt otherwise, Coinbase was going to list #XRP almost immediately.
@JohnEDeaton1 - John E Deaton
Coinbase was going to the SEC because Coinbase wanted to MAKE SURE it was not doing anything the SEC viewed as problematic or non-compliant. Coinbase wanted to go public and issue an IPO within a couple years and wanted to be in the SEC’s good graces.
@JohnEDeaton1 - John E Deaton
In sum, if the SEC disagreed with Coinbase’s assessment of #XRP in anyway, Coinbase would not list #XRP. If the SEC agreed, however, or, at least didn’t object, Coinbase would immediately list #XRP on its platform. The SEC said NOTHING to discourage or disagree with Coinbase.
@JohnEDeaton1 - John E Deaton
The SEC not disagreeing with or discouraging Coinbase made perfect sense in January of 2019, considering six months earlier, on June 13, 2018, SEC enforcement lawyers wrote an #XRP Howey Memo 📝 analyzing whether #XRP satisfied ALL of the Howey factors. And guess what?
@JohnEDeaton1 - John E Deaton
It is CLEAR SEC lawyers came to a similar conclusion as the Coinbase lawyers who determined #XRP was NOT a security. The #XRP Howey 📝 did NOT conclude that #XRP was clearly a security b/c the 📝 did not recommend enforcement 🆚 @Ripple, nor did it recommend a cease and desist.
@JohnEDeaton1 - John E Deaton
No more than 30 days after the Coinbase/SEC #XRP meeting, Coinbase listed #XRP on its platform on February 25, 2019. Less than two months later, Coinbase was using #XRP (and #USDC) to expand into cross border payments. 👇 https://cointelegraph.com/news/coinbase-expands-into-cross-border-payments
@JohnEDeaton1 - John E Deaton
Coinbase wasn’t the only Company - not named Ripple - to jump on the #XRP cross border payments utility bandwagon. Less than 6 months after Coinbase listed #XRP, @MoneyGram started using #XRP in its cross border payments business. 👇 https://thecryptobasic.com/2023/06/21/moneygram-ceo-discusses-use-of-xrp-for-cross-border-payments/
@JohnEDeaton1 - John E Deaton
In fact, MoneyGram filed a form 👇 with THE SEC - disclosing how MoneyGram would utilize #XRP. Clearly, the lawyers at MoneyGram ALSO determined, just like Coinbase’s lawyers, and just like the SEC enforcement lawyers in June 2018, that #XRP was NOT a security. https://t.co/umbMwwelOd
@JohnEDeaton1 - John E Deaton
Amazingly, despite all the above (and so much more), on December 22, 2020, less than 2 years AFTER Coinbase met with the SEC about #XRP, and 18 months AFTER MoneyGram disclosed to the SEC it was utilizing #XRP, and despite lawyers at the SEC not concluding #XRP was a security in June 2018, AND, despite Joseph Grundfest, who had helped the #Ether founders, pleading with Clayton not to do it, Calyton, Hinman, and Marc Berger filed the lawsuit against Ripple, BUT also claimed ALL sales of #XRP constituted unregistered securities.
@JohnEDeaton1 - John E Deaton
We know the rest. It is so clear the lawsuit was used as a weapon. I said it only 9 days after the Ripple lawsuit in a federal pleading, when I filed the Writ of Mandamus against the SEC, and all the evidence uncovered during the last 3 years proves it to be true.
@JohnEDeaton1 - John E Deaton
The point here is this: What could have happened regarding adoption of #XRP during the last 3 years, if the lawsuit was never filed? 🤷♂️ Would Coinbase today be announcing it acquired a stake in Ripple, instead of @circle? 🤷♂️ But I do know, despite Ripple’s continued and impressive success (95% of it outside the U.S.), the lawsuit definitely hurt #XRP and development related to the #XRPLedger.
@Belisarius2020 - bill morgan
I am not sure to what comment of @JohnEDeaton1 you refer but there was a memo the court did not order to be disclosed in which the SEC considered the issue and I think I recall John saying that had they concluded XRP was a security the SEC would have disclosed it. https://t.co/SIahrjWMaF
@JohnEDeaton1 - John E Deaton
@Belisarius2020 To be clear, I didn’t say the memo concluded XRP is not a security. The memo was found to be privileged and not disclosed so I haven’t read exactly what it says. But Judge Netburn found it important to note that the authors of the memo, who were Enforcement lawyers at the SEC,…
@Marc_Fagel - Marc Fagel
@JohnEDeaton1 @Belisarius2020 With the caveat, again, that we don't know the state of the SEC's investigation at that time. Had they collected evidence of Ripple's representations and the other material included in the SJ motion? (Which isn't to say there isn't a major hurdle proving scienter by the indivs.)
@JohnEDeaton1 - John E Deaton
@Marc_Fagel @Belisarius2020 One of the lead prosecutors for the SEC stated in a memo or during oral argument (I can’t recall which) that by the time of the June 14, 2018 speech Garlinghouse and Ripple were aware of the SEC’s investigation. The SEC attorney stated this to minimize Ripple’s reliance on the…
@Leerzeit - Mr. Huber🔥🦅🔥
Now guess for who the responsible person for "delisting xrp for New York financial Services" worked for. Ahh yes you guessed it. Sullivan and Cromwell.
@JohnEDeaton1 - John E Deaton
After it was determined NOT to be a security. It’s not even a security if Ripple sells it on exchanges. Yea, this move isn’t political or punitive in nature. https://t.co/5DmIrqrXBc
@jungleincX - Jungle Inc 2.0
Breaking: New York crypto regulator removes $XRP from its approved list of crypto currency.
@Leerzeit - Mr. Huber🔥🦅🔥
It's absolutely ridiculous. I mean Sullivan and Cromwells clients are litteraly ruling the US.
@Leerzeit - Mr. Huber🔥🦅🔥
Now guess for who the responsible person for "delisting xrp for New York financial Services" worked for. Ahh yes you guessed it. Sullivan and Cromwell. https://t.co/8TLW5dZYKK
@JohnEDeaton1 - John E Deaton
After it was determined NOT to be a security. It’s not even a security if Ripple sells it on exchanges. Yea, this move isn’t political or punitive in nature. https://t.co/5DmIrqrXBc
@jungleincX - Jungle Inc 2.0
Breaking: New York crypto regulator removes $XRP from its approved list of crypto currency.
@JohnEDeaton1 - John E Deaton
Not only did @BKBrianKelly discuss #XRP, he showed the world how to acquire #XRP on @CNBCFastMoney with @MelissaLeeCNBC. BK even said “#XRP is NOT a security” in 2018. He was clearly right in saying that btw. Not only did @CNBC show people how to acquire #XRP on live TV, it had articles on its website walking the reader through the process of buying #XRP. My honest and reasonable question is after showing retail investors how to buy #XRP, and assuring them it wasn’t a security (which was true), why has CNBC not reported on how the SEC, not only sued @Ripple, but attacked retail investors, claiming the asset that they owned in digital wallets and in retirement accounts were illegal securities? 75K retail holders joined to sue the SEC, yet @andrewrsorkin @BeckyQuick @JoeSquawk @davidfaber @carlquintanilla @BobPisani, Melissa Lee, and others, have ignored the plight of the very investors that CNBC promoted #XRP to in the first place. I honestly don’t understand. Is it really because Jay Clayton is a CNBC Contributor and was the one who authorized the filing of the lawsuit as he was leaving the SEC? I’m sure Jay is a big enough boy that he could handle objective reporting on something that’s never happened in the history of the @SECGov (tens of thousands of investors asking a judge to order the SEC to officially name them as defendants in the case). Certainly, someone who’s served as Chairman of the SEC, over the largest and greatest capital market in the world, could be subject to unbiased reporting over FACTS, not opinions. And people in MSM wonder why they have the same approval ratings as members of Congress.
@s_alderoty - Stuart Alderoty
The Court’s July 13 ruling was, and remains, the law of the land. XRP is not a security.
@FilanLaw - James K. Filan 🇺🇸🇮🇪
#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: Judge Torres has DENIED the SEC’s Motion to File an Interlocutory Appeal. https://www.dropbox.com/scl/fi/a1zks8vhptcf40vo6a7gc/Order-Denying-SEC-Motion-to-File-Interlocutory-Appeal.pdf?rlkey=v1gdwavgqwzi0bnxmmpqe0kgl&dl=0
@scotty2ten - Scott Chamberlain | 🏴☠️ 🪝
I think this is more significant than people realise. Yes, the SEC can appeal later, but it is stuck with shitty factual record that makes successful appeal much more difficult. It also means Supreme Court is less likely destination - there’s no major legal questions to decide, just the difficult but ultimately mundane task of applying known law to a complicated fact matrix that doesn’t support the SECs claim. The law didn’t change. SEC failed to prove it case. Now it has to push shit uphill with a pointy stick if it wants to win.
@FilanLaw - James K. Filan 🇺🇸🇮🇪
#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: Judge Torres has DENIED the SEC’s Motion to File an Interlocutory Appeal. https://www.dropbox.com/scl/fi/a1zks8vhptcf40vo6a7gc/Order-Denying-SEC-Motion-to-File-Interlocutory-Appeal.pdf?rlkey=v1gdwavgqwzi0bnxmmpqe0kgl&dl=0
@digitalassetbuy - Digital Asset Investor.XRP
XRP is the ONLY digital asset with LEGAL clarity in the United States! @JohnEDeaton1 on @DigPerspectives https://t.co/jSlSBuQUH1
@cryptomanran - Ran Neuner
Why are crypto celebrating the SEC backing out of the Ripple case? All it means is that now the SEC can appeal the case sooner. Previously they had to wait until then end of the case but now that they dropped the case - THEY CAN APPEAL IMMEDIATELY. Be Smart!
@APompliano - Pomp 🌪
Good morning to everyone except the people who thought they could sell unregistered securities and get away with it
@360_trader - 360Trader
@APompliano I like you Pomp... But I’m gonna dislike you for just a few minutes for that one
@APompliano - Pomp 🌪
@360_trader That is okay. I'm not here to win a popularity contest. I'm here to educate people, while learning more myself. The ability to listen to each other's opposing opinions and still be friends is needed more than ever today :)
@CryptoLawUS - CryptoLaw
@APompliano @360_trader Hope you learned something from this: https://t.co/jBKU9NoAuR
@david_r_barrera - David Barrera
@CryptoLawUS @APompliano @360_trader The SEC did not argue, and no serious security lawyer is going to argue that XRP, purely as a digital token, just in and of itself, satisfies Howey.
@_lukey_mo - Lukey Mo
@david_r_barrera @CryptoLawUS @APompliano @360_trader Hahahaha I love watching ppl make stupid commments and then getting wrecked 🤣
@david_r_barrera - David Barrera
@_lukey_mo @CryptoLawUS @APompliano @360_trader I stand by my comment, which has nothing to do with the aiding and abetting claims the SEC dropped. I never held an opinion w/r/t those claims. Right move by the SEC to appeal prog sales sooner. At the same time, big win for Ripple execs (not necessarily for XRP holders).
@richcerro14 - Richard Cerro
@david_r_barrera @_lukey_mo @CryptoLawUS @APompliano @360_trader We already won. Xrp is not a security legally speaking.
@JohnEDeaton1 - John E Deaton
As I said on @CryptoLawUS TV yesterday with @attorneyjeremy1 and Thien-Vu, I do not believe there has been a single serious conversation regarding settlement between @Ripple @bgarlinghouse @chrislarsensf and the @SECGov. The SEC is pissed and embarrassed and wants $770M worth of flesh. What people need to understand is that the penalty phase is like a second case requiring more depositions, interrogatories, requests for production of documents, emails, bank statements, contracts, ODL transactions, etc. Ripple wants to drastically reduce the $770M by trying to exclude ODL transactions, reduce salaries, expenses, costs, etc. The SEC sought $23M from @LBRYcom. It took EIGHT MONTHS of additional litigation before the judge ultimately issued a fine of $130K. @jeremykauffman was deposed again, for example. Multiple briefs were filed. I don’t expect a final judgment, issued by Judge Torres, until late summer, at the earliest. It literally could take a full year before an appeal is filed in this case. If Coinbase wins there MTD, I then believe the SEC will be forced to pivot its anti-crypto agenda and then work out a possible settlement with Ripple. If Coinbase loses its MTD, I predict no settlement. January 17, 2024 is the oral argument on the Coinbase motion. A ruling is likely 60-120 days later. Until then I think Ripple will spend tens of millions of dollars in legal fees fighting to greatly reduce the $770M.
@JohnEDeaton1 - John E Deaton
I believe Ripple will be successful in cutting the $770M figure down drastically. This isn’t a fraud case. The goal is to reach an appropriate fine against Ripple for engaging in transactions that qualified as the sale of unregistered securities, but sold in the context of a new asset that other federal agencies declared “virtual currencies.” In 2013 @chrislarsensf met with the SEC, Treasury, Federal Reserve, CFTC and others explaining how Ripple was using XRP to solve Banking issues. In 2014 @USGAO described XRP as a “virtual currency utilized in a decentralized payment system called Ripple.” In 2015 FinCEN & the DOJ settled with Ripple declaring XRP as “convertible virtual currency” and forced Ripple to comply with banking laws not securities laws. In 2019 FSOC ‘s annual report, signed by every important financial leader in the United States, including Clayton, as SEC Chair, as well as Jerome Powell and the Secretary of Treasury, it stated XRP, along with BTC, ETH and LTC were “virtual currencies” gaining in market capitalization. Of course, in 2018 we got the Hinman Speech and the internal emails predicted that the speech will cause “greater confusion” to market participants - you know, LIKE RIPPLE. Also in 2018, the day before Hinman’s speech, SEC enforcement lawyers wrote an XRP Howey Memo, analyzing whether XRP was a security. These enforcement lawyers did NOT recommend that Ripple stop selling XRP, nor did they recommend an enforcement action. Clearly, they couldn’t determine themselves that XRP was a security. In fact, SEC enforcement lawyers could own and trade XRP up until 2019. I don’t think Judge Torres will be out to hurt Ripple with these facts.
@JohnEDeaton1 - John E Deaton
If you want to hear @attorneyjeremy1’s BOLD prediction watch below (near the end if you want to skip ⏭️). Make no mistake, Jeremy was the FIRST person to make this prediction. If it comes true (and it very well could), he will deserve ALL the credit.
@CryptoLawUS - CryptoLaw
The baby was not split. The baby is not a security. Blind bid/ask transactions on an anonymous exchange (vast majority of XRP sales in the case) are not securities under Howey. That's 75+yrs of case law speaking. What case law are the unnamed laughers at SDNY citing?
@BattlezNFT - Lunatic
@CryptoLawUS @CGasparino has clearly been given his orders and lost all credibility in the process. Interesting how @EleanorTerrett went on "vacation"
@CryptoLawUS - CryptoLaw
🚨“XRP Ruled Not a Security” is the #1 crypto story of 2023 (@axios) 👇🏻 https://www.axios.com/2023/12/20/crypto-2023-ftx-binance-biggest-stories
@s_alderoty - Stuart Alderoty
Before the SEC sued Ripple, Chris and Brad (3 yrs ago today) they offered us the following settlement: the SEC would announce to the market that XRP is a security and the market would be given a short window to “come into compliance.” We said no because: (1) XRP is not a security; and (2) the SEC never built a framework for crypto compliance. No matter the spin that Clayton, Hinman, Gensler or anyone else puts on this case now, it was always about one thing - - proving that XRP is not, in and of itself, a security. We put everything on the line. Few thought we would win. But we did. In the process we exposed the SEC for the hypocritical tyrant it is and the industry in the U.S. lived to fight another day. Onward to 2024.
@CryptoGeekNews - CryptoGeek
🚨MASSIVE DISCOVERY: THE FOUNDER OF #ETHEREUM (VITALIK) COORDINATED WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION TO PAY THEM IN EXCHANGE FOR DE-LISTING #XRP AND LABELING IT A SECURITY 1/2. (LEAKED DOCUMENTS ATTACHED) https://t.co/AgNSGQsmZv
@AngelofYHVH - Angelica Saldaña S.T.B.❤️🔥
BREAKING: SEC Declares XRP is Not a Security! @Ripple https://t.co/LnTo3EPNNK
@s_alderoty - Stuart Alderoty
Before the SEC sued Ripple, Chris and Brad (3 yrs ago today) they offered us the following settlement: the SEC would announce to the market that XRP is a security and the market would be given a short window to “come into compliance.” We said no because: (1) XRP is not a security; and (2) the SEC never built a framework for crypto compliance. No matter the spin that Clayton, Hinman, Gensler or anyone else puts on this case now, it was always about one thing - - proving that XRP is not, in and of itself, a security. We put everything on the line. Few thought we would win. But we did. In the process we exposed the SEC for the hypocritical tyrant it is and the industry in the U.S. lived to fight another day. Onward to 2024.