🔥🔥🔥 John Deaton – Charles Gasparino – Fox Business – XRP Army – S.E.C. vs Ripple – 👊😎 🔥🔥🔥
Pals comments follow sec, chair gary genslers, show of support for bitcoin futures, etfs, bitcoin bulls, fueled by todays rally already calling for an october predicting a major balance in the price for the original crypto this month. Bitcoin right now, as you can see on your screen, is gaining uh more than four thousand forty seven thousand, almost its almost at forty eight thousand right now, ether is gaining uh, almost ten percent and then, as you can see, litecoin is higher as well. The green arrow is also extended to crypto stocks. Miners hive marathon and riot all moving substantially higher into the close trading platform. Coinbase also is rising, as you can see a gain of more than two percent there: silvergate capital up, nine and a half percent, and then youve got strategy that is up pushing six percent right now, by the way, microstrategy owns more than 3.1 billion dollars worth of Bitcoin uh right now well, staying with crypto weve been talking a lot about ripple on this show the company thats, currently embroiled in a fierce battle with the sec over the status of its xrp coin, but its not the only lawsuit in the works theres. Also, a class action suit thats been followed on behalf of the thousands of xrp customers who lost a lot of money when the sec sued ripple and the value of xrp tanked charlie gasparino is here. We welcome also john deaton, the lawyer whos, representing those xrp customers, and i know that you too have had a lot of discussions about this already charlotte yeah we should have put.
We should also get a price of xrp if we can, because its its pertinent to this uh this story. Um john thanks for joining us um. We weve been conversing a little bit on uh on on twitter um id like to ask you this um. What is the ultimate goal of the case uh and and when did you get into this and why? Why did you because you know youre a lawyer, i never i i i havent read about you in the past going after major corporations. This is a class action suit, i believe, against the securities exchange commission. Am i right about that? Yes, right now its a motion to intervene into the scc versus ripple case, so what made you get into it? Well, first off. I want to thank you cheryl for having me when i say thank you. I im not just saying thank you on behalf of myself im saying thank you on behalf of 22 000 xrp holders who have joined this fight against regulatory um, not just uncertainty but overreach, and also to bring into life the massive conflicts of interest and the gross Appearance of impropriety i got involved because when i read this complaint on christmas eve of the last christmas, i was outraged that the sec would be alleging exactly what theyre alleging in this case they basically sue not just ripple, but the hundreds of thousands of xrp holders. Many of whom, which have never heard of the company but never heard of brad garland house with chris larson and, as you know, that started just by me and has turned into now 22 000 and charlie its growing every day.
Yeah i mean lets just back up a minute. Remember the sr the sec sued ripple, saying the xrp cryptocurrency thats used on the ripple platform is a security that and they should have registered it, which they didnt and theyre. Saying. Because of that, you owe us a ton of money, 1.5 billion dollars when that happened. Xrp was d platform from major exchanges. The price went down, people like you, you were uh youre, a holder. I i assume in the past uh of this. I think i think thats youve mentioned that to me in the past, but people like you who held it, saw the value of its of the holdings, go down dramatically and and heres the rub. The rub, the way i read read your your complaint and and the comments by the xrp community is simply this ex ripple used xrp to finance to build out of its ripple platform, which is actually a decent platform, its theres, its cross border payments with crypto. Obviously the xrp um its no different than what ethereum did with ether back in the day, but ether got a pass. Ethereum got a password ether. You guys didnt. Is that essentially it well theres a lot to it. I will tell you this: i wouldnt be involved in this case if the scc was only going after ripple for selling xrp in the early years when they were building their platform. You know i wouldnt be involved, whether that would be selective enforcement or not.
Is none of my concern but in this case the sec is making the absurd claim that all cells of xrp for the last eight years that every single one of them constitutes a transfer of unregistered security, including in the secondary market? That means my clients who purchased on coding base in 2020 theyre, claiming, even though theyve never heard of ripple that were in a common enterprise with ripple its absurdity, and so and so what is your? What is your resolution? What would you like to see? Well, right now, weve asked the court permission to come into the case and intervene as de facto defendants or in the alternative uh to grant us a meeka standing with propriet with participatory rights. Basically, what that means is to allow us to prove that the xrp that we purchased is not only not a security. We also didnt enter into a common enterprise with ripple right, because ripples went on record to say that they owe nothing to xrp holders. They have shareholders and the sec is clearly not acting on our behalf. Um. We just want to take part. You mentioned conflicts of interest. Okay, now this is where it gets interesting. Jay clayton was the was the head of the sec that brought the case uh the guy named bill. Henman was then at the head of corporate finance for the sec, who played a role. I guess in the case um. You believe that those two gentlemen who, by by the way weve reached out for comment, they say no, they dont want to come on.
So just just so, you know, ive tried to get them to give their side store. You think that they file these cases and they have huge conflicts of interest. Can you explain some of that sure uh? Well, heres, what you have you have jay playton, who was the chairman of the scc. His law firm, represents ethereum, co founders and competitors to ripple bill. Hinman works with simpson thatcher. It was a board member of the enterprise ethereum alliance and while he was working at the scc, he was having private meetings with these ethereum investors and collecting 15 million dollars, while working at the scc from the firm thats on the board of the ethereum alliance. After all, these private meetings charlie, he gives a speech that declares ethereum, not a security, and we found out that these ethereum investors helped write the speech. Are you going gon na depose them in your suit? Well, the goal is to depose right now were just seeking to go into court in the southern district of new york and represent ourselves and descend what we own, because ripples not gon na, do it and the sec is not going to do it want to ask A question cheryl: well, you know i want to say that you, the two of you, are going to continue this conversation, because this story between the two of you in this interview is all over twitter and there was a lot of interest in this whole case and It is fascinating im going to let both of you continue with this.
Its going to be online follow charlie, in particular on his twitter blog, where thats all the news is breaking and john dean. Thank you so much for this. This was great. Thank you, sir. Thank you for having me, we appreciate it. Charlies been on top of this from the beginning, its fat, no its fascinating, and he has been guys.