BOOM! XRP Holders Enter SEC & ETH vs. Ripple / XRP / Crypto Innovation
We have a liftoff Music, hey everybody. This is the digital asset investor and the video that im about to show. You is going to piss you off and it should listen. This is our old buddy. Joseph lubin, talking about how um hes got a a um, a digital asset, ethereum thats, not a security, but all of yours are securities because he knows listen to this yeah or worse names in it. Ethereums early advantage is apparent in so many ways. One is a regulatory advantage in that theorem and bitcoin arrived on the scene before regulators were watching and so via different mechanisms. We were able to distribute our tokens broadly and equitably, which is critically important for the success of decentralized protocols like this. If youre a great team right now with a great technology, you need any, and you have designs on being a layer, one uh protocol. You really need massive decentralization to to claim that youre a layer, one protocol to claim that youre, a new trust foundation, otherwise youre kind of a pretty small platform and potentially corruptable, and so we were fortunate enough to be able to frame our token. As a utility token and get the excitement of the community of developers, entrepreneurs users a project right now, even if its excellent needs to incentivize its community to be excited about the token and usually the way to do. That is to say hey. This token is going to appreciate by the agency of this group over here uh by definition, thats a security.
This is mateo leibowitzs distribution quadrilema, but its not my uh, my construct, uh and so regulators are watching so uh pretty much. All the tokens um need to be either introduced into the world in a convoluted fashion. Um or are are really just gon na be as securities so that uh they cant be distributed broadly and equitably. They are uh being called vc coins, im, sorry, sir jamie or uh, or professor coins and uh what less names than that as well yeah harvesting. All right – and you think, thats a you, think, thats bad, listen to this, and i i found this albert einstein quote because its so fitting the only thing more dangerous than ignorance is arrogance and then um. I was copying gary gensler and hester pearson. This i said joe lubin on why no competitors can touch him, in other words, why he has a monopoly, because ethereum came along when you were not watching regulators thats what he thinks he thinks that he he now is is the king of the mountain, because you Guys werent watching – and we know that hes wrong on this, because you guys are watching youre reaching back on ripple right now. You could do the same thing on joseph lubin and i have a question: why arent you doing it! This guy ethereum issued a security period. Everybody knows it even bill. Hinman acknowledged that why are you not reaching back on ethereum? Why is nobody going after what they did in that ico? That and and what youre going to see in the rest of this video youll be glad to know that we are going to bring hell, because we now know that john deaton has been um has gotten in a position where he can do a brief in this Sec versus ripple case well get to that, but first um i wanted you to.
I can here watch the rest of this. I drew a blank. This is crazy, im sitting here doing this video and i cant even remember. If i played you this video but im going to play it again – mateo leibowitz uh. You guys probably are aware of the distribution quadrilema uh, so he basically indicated that its gon na be incredibly difficult for a startup project to um, take the place of uh of ethereum or bitcoin uh, just because uh we happened at a moment in time when securities Regulators around the world, uh were not watching um and we became sufficiently decentralized, and you hear that gary, while you werent watching you werent there, it was jay clayton, but while you werent watching or jay clayton wasnt there when they, they started out with a theory im Like i dont know who it was, but regulators werent watching and its like a haha, you cant get me now: okay, no, you guys can get him. Yall can go back and get him. You can go back and get ethereum right now. Why arent you doing it? Youre doing it to ripple, but youre not doing it to these guys theres a reason for that uh theyre, simply what they have to do is sell tokens broadly and equitably. They need to raise enough money to build the project and continue the project. They need to build a community incentivize growth in their community and in order to do that, they pretty much have to get tokens in the hands of the community and they have to promise that those tokens are going to appreciate by the agency of some group and So, by definition, thats, a security, uh theyre selling, a security so its not going to by definition, thats a secure, nan and a booboo you cant catch me.
I mean thats how this guy is the way this guy comes across with his giddiness about, because, basically, what hes saying is: okay, we got away with it, but you cant youre a security, because you guys didnt do it back when the sec wasnt watching i mean This is crazy. This is cuckoo for coco puffs crazy. What what is going on right here and now fox business is on this now everybodys starting to see it and now john deaton is about to come into this sec case and be able to put that judge. Put in front of that judge what the xrp communitys been cooking, which is video and evidence and all the different things weve been showing, and now that judge is going to be staring right at it right at it and and the look like like i said, a Thousand times, even though they, even though all the people in this thing deserve to be investigated, i dont even want them to be investigated for the sake of the industry. What i want is a level freaking playing field. Xrp is more decentralized than ethereum. This ethereum decentralized business is a joke, they know it, they know its. Not true. Proof of work is a joke. They know proof of work is a joke. They have not transitioned to 2.0. Yet ethereums of security, ethereum 2.0 is a security in progress and i want my freaking reward. Thats the deal thats the fact jack all right now moving along.
So then we get this from crypto law. John deatons law, firm, breaking judge towards grants, judge taurus grants amici status to john deaton and movements and denies motion to intervene. Okay, so then um james fellain had broken. This down court gives john deaton power to brief questions of law on behalf of individual movement movements. This is huge win for xrp community, because the interest of the individual movements and the xrp community are aligned. Court stated that did it and then jeremy hogan weighed in congratulations, john deaton and he says americas amicus curate, which is what the judge granted status, allows you to file an official brief, which the judge will take into account when making her final decision, then charles gasparino Comes in well be discussing johns legal victory, which he did, and here we go charlies here. No breaking news. Uh on the story that charlies been following a judge from the southern district of new york today granted permission for more than 23 000 xrp holders to get their voices heard in court after charlie interviewed the lawyer representing the cryptocurrency shareholders on friday watch that 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 uh 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 here now to discuss charlie gas burrito.
So that is what does this mean? That is the great john deaton um. This is a potentially a big big development in the sec versus ripple case, which is a big development in inc in crypto. If the sec loses the case against ripple uh xrp, which is its cryptocurrency, that is used in its decentralized network for across broader transactions, thats going to be declared a legal currency, not a security doesnt need sec approval, huge story for for the crypto business, because its Basically saying that the sec overstepped its bounds in regulating the crypto business by declaring xrp a a security and essentially going after ripple for using xrp as a security to finances, to build out of its platform. Huge thing heres. Why? Its big john deep now joins the suit its almost as if, when he says its an amicus brief hes now being sued, although hes not hes, just part of the case, what hes going to do now is say: okay, sec, not only you know, you can do Whatever you want with ripple, if you think ripple, did something wrong, but he he can go to the judge, and this will be, i guess, before a federal court judge, not a jury. I i dont know the particulars, but so far its before a judge. He can go before that judge and say you know this action was so bad, so egregious so outside the norm, because not only did you go after ripple, you went.
You basically went after these innocent xrp holders who just bought the stuff who were trading this stuff for seven years before the sec came in and said its a security and lost a ton of money. The minute the sec said it was a security because it got bounced off of exchanges, the share the price of it went down, and they owe us money and thats. What is going to go on here so its essentially that the sec is, is fighting a front on this. Its got a fight against ripple, ripples, fighting back, obviously so its got to prove its case against ripple uh, whether it knew and whether it violated the law. Not an easy case, ive been talking talking to people about this. A lot of lawyers. Security is always saying, wait a second. You know seven years they let this thing go on uh. What ripple did with xrp in building out its its infrastructure was no different than what ethereum did with its ether cryptocurrency, and they were. They were given the green light uh and now theyre gon na have to theyre gon na listen to john deaton, say how xrp people that had no just werent part of the ripple process, totally opposite theyre, literally trading the stock. You know or theyre trading, the cryptocurrency. Almost said stock, its, not a stock, its, not a security according to the ripple people um they they were harmed and had no business being harmed.
In this whole thing, its the sec whos overstepped its bound, so its its a big case. Obviously, xrp isnt gaining much ground. I think it was negative earlier in the day. I think its up a little bit right now, um but ill. Tell you its um. When you talk to legal its up now right. Did it pop on the news, i think so its down a penny down a penny so uh its its an interesting case, listen theres, two cases that the crypto all right, thats, the gist of it. I wanted to show you this, so i shouted out john deep. I said: hey john, please, show judge netburn this now that hes in show show judge annette burn this ill, send a few hundred other things she may want to see too. We are about to bring hell and thats exactly what were about to do everything weve been putting together a lot of the stuff, a lot of the video and different things that have been found in the xrp community. A lot of these things have been put into john deatons, video library, and let me tell you what, if im the judge in this case, and i even saw one 100th of the evidence that has been provided in social media on twitter from people that are xrp Fans, i would, i would do a big fat drop, kick of the sec out of my courtroom, because this is a travesty and it is obvious, and not only would i be doing some drop kicking like that.
I would also be doing some referrals to the justice department if thats, how thats done, because somethings really really bad here: okay, thats, what id be doing now. John deaton said this a few days ago: blackberry xrp, that is the official cool guy, mr intuitive of the digital asset investor channel um. We were all on tv today regarding my appearance on countdown to liz, clayton and uh charles gasparino, and turns out somebody was listening. Um and then brad garlinghouse said today was another good day. Stuart aldarotti, even weighed in xrp holders, have always said that the secs lawsuit is a direct attack on them. Now its official, the courts ruling permits john deaton to share his meaningful perspective to help the court reach a proper decision, yet another important and positive development, and then there was this, which i think is so true. The xrp community might just go down in history as the community that saved the entire crypto market from the secs terror and jeremy hogan um had tweeted. This look at judge uh tauruss order granting amicus status to xrp holders. Yes, judge a lot of things about this case are backwards. Why would 22 000 xrp securities holders want to intervene as defendants in a case where the sec is supposed to be representing them? Its insane, okay and then james rule showed this tomorrow. The the financial services committee in congress is having a hearing called oversight of the securities exchange committee wall streets.
Cop is finally back on the beat. I hope what they mean is that that the cop is congress and theyre now going to oversee the sec, which is what weve been needing um, and this is the actual hearing. It looks like its tomorrow at 12. Oclock so im sure well all be checking that out im the digital asset investor im, not an investment advisor. This is for entertainment purposes. Only please subscribe hit. The like button.