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Ignition sequence starts six five four Three two one zero liftoff we have a Liftoff Hey everybody this is the digital asset Investor and I need a little more coffee I'm gonna start you out with this this Is Ray Fuentes over at linked to check It out Hi everyone it's Ray link to today's Wednesday March 8th and the link to Portfolio company Ripple Labs has been Restocked on the link to platform with The limited amount of inventory but Thankfully just in time for judge Torres Recent ruling on the Doberman motions I'll let the link to member Attorney John Deaton who is just on Fox Business Yesterday explained exactly what this Means the victory we got was there was An expert the SEC was offering who was Going to testify as to what xrp holders Thought in their head when they Purchased xrp of course he never Interviewed one single xrp holder in his Entire career and he received a three Million dollar contract from Guess Who The SEC how nice to serve as a witness And so the judge excluded that part of His testimony that he's not going to be Allowed to your point though some people Believed that the decision on dollar Motions on Expert Witnesses could come Down simultaneously with the summary Judgment motion so I tweeted out
Yesterday that I wouldn't be surprised With the decision in a day now or within A couple let's be all right now look at This this many of you may not remember But there was a guy and he went by Hodor Which is a name from The Game of Thrones Uh show and he was one of the most Important people in the xrp community For a long time and he did and he had a Blog and he we know that he was one of The few people that was in direct Communication at times with ripple Because he wrote about it in his blog we Also know that at the time I think Brad He was the only person in social media That Brad garlinghouse that I ever heard Brad garlinghouse mentioned by name that He that he read look what he wrote let Me see if I wrote when when this was This was uh July 2017 he wrote this is Before remember this is before all of The shenanigans before Eastgate before The fake lawsuits before the SEC lawsuit This was what the thinking was at the Time This is not the case for ripple now that Ripple is approaching what is considered To be a mature stage for a Silicon Valley startup there are several very Exciting options for raising funds to Power them into the next level pursuing A purchase by a larger company Google Etc uh private IPO public IPO all these Speculative possibilities are very
Exciting and in my opinion would Catapult xrp price forward by a massive Amount just on the announcement alone So so link to is my sponsor the links in The top the description they have a Little bit of private Equity left and They they keep saying that they're Having a tough time getting it at this Point because where we are in this case But there's two things there This Ripple this Ripple case is coming To an end and when it does one way or Another they're gonna IPO now I believe That when this when the decision is made I believe that there could be some the Market could get some mixed signals at First but I believe at some point the Public's going to realize What I've realized since really 2000 15 maybe That xrp is the one and it's always been The one Okay now this goes right into what John Deaton was just talking about about the Expert witness and and how when how People perceived excerpt did they think They were buying a security and all this Look what Jeremy Hogan found he said in In her recent order the judge cited the Marine Bank versus Weaver case at least Three times when discussing what a Reasonable xrp purchaser believed when They bought xrp xrp issue it's a Supreme Court case which asks whether the thing
Sold was commonly thought of as a Security well the second I read this it Was like an aha moment for me and I'll Show you why in a second first I want to Show you what Ashley Prosper says so Judge Torres prohibited expert one from Opining on what xrp holders believe when Buying xrp and use case law that would Require the x that xrp was commonly Thought of as a security when sold when We know it is it was not it's clear now Xrp will not be a security well guess Who the first time That I ever heard even anyone even Even give an opinion on xrp as a Security was you know who Gary Gensler I Remember this like it was yesterday Folks this was an article from uh and he I remember literally making fun of the Guy like who is this guy coming out of Retirement and and I remember covering This Gary Gensler came out of literally came Out of retirement to come out and do This op-ed and I think it's important That you understand two things the date And the guy that wrote it Nathaniel Popper wrote it April 22nd 2018. Gary Gensler just happens to come out and Have a New York Times article written on Him and here's what he floats it says uh He um second and third uh he on Monday That the second and third most widely Used virtual currencies ether and ripple
Have most likely been issued and traded In violation of American Securities Regulations there's a strong case for Them both but particularly Ripple they Are non-compliant securities he said in An interview he believes Bitcoin the Original virtual currency can remain Exempt from Securities regulations okay This was on remember April 26 of 2018. This is the first time I ever even that It was even an issue and the same guy Who's now suing Ripple is the same guy Who happened to float it as an issue but When he floated it and who floated it For him are important and here's why Nathaniel popper April 22nd 2018. okay Here's the article right here Well look at the article by Nathaniel Popper just a two or three days later on April 19 2018. this was when it Supposedly is leaked that the Venture Capital working group is meeting with The SEC this is what the Safe Harbor That Lowell Mass wrote Perkins cooey That eventually became the ethereum free Pass look at the beginning of this Venture capitalists and entrepreneurs Have been lobbying Federal Regulators to Protect at least some virtual currencies From being categorized as Securities The Venture Capital firm Andries and Horwitz Helped assemble a group of investors and Lawyers that met with the SEC in late March they also proposed A Safe Harbor
Okay for some virtual currencies According to a copy of the person anyway This is the first time that I think the What we know as Eastgate was leaked okay It's linked by the same guy who covered Garrett who did the article on Gary Gensler just a few days later If you think that's a coincidence my Igloo in south Georgia where it will Melt in 24 hours is for sale and we're Increasing the price and I don't know if That's a security or not my igloo This Gary Gensler is dirty as dirty gets Folks and look at this this is from Eleanor Terrace scoop Gary Gensler Apparently has multiple SEC email Accounts that he uses why would we why Would he need to do this I've reached Out to the SEC for comment and that Doesn't even Fred rispoli says and that Doesn't even take into account his Gmail And Yahoo email accounts even worse word On the street so there are rumors Apparently is that the guy also has AOL Hotmail and EarthLink accounts There's also remember if you remember J.W Barrett when he was being Interviewed by thinking crypto a while Back JW verit said that people in the SEC were using apps to hide I think WhatsApp was one of to hide their Communications from oversight Congress So the question here is not um is this True the question is why is Congress not
Making an issue out of this That's the question Congress is Worthless from what I can tell speaking Of worthless here's our Federal Reserve Chairman you know with cbdc you I think You're asking whether whether a cbdc Would serve some of that but a CD cbdc Is going to be years in the evaluation And you know I think we can get this Into the hands of the public very Quickly and I think we'll have real-time Payments in this country very very soon And so that that's a good thing It I would put that in the all the world of Stage file now here are the Congress People this listen to what this Congressman floats out fire the Gentleman from Missouri Mr Luke Meyer is Recognized for five minutes the chairman Of the National Security Center Committee thank you Mr chairman and Thank you chairman foul for being here This morning The reserve currency status of the Dollar uh to Us's enormous financial and Financial Security benefits in the wake Of Russia's unprovoked invasion of Ukraine the FED took action prevent the Kremlin from accessing more than 300 Billion dollars in reserves roughly half Of Russia's reserves however this led to An accelerated effort by countries like China to de-dollarize their official
Foreign exchange reserves just last week There was an article in the Wall Street Journal titled Russia terms to the Yuan Um in an effort to ditch the dollar Not only that but China's president Xi Jinping published for the settlement of Energy drink pushed for the settlement Injury trades in the Chinese Yuan at a Summit with Arab leaders in December The question is Um are you concerned about these actions By Russia and China To push to establish different reserves And conduct transactions in non-us Dollars So the US dollar is the widely accepted And really the only serious candidate For for the world's principal Reserve Currency and that's that's because of Our Democratic institutions our liquid Markets the rule of law and all those Kinds of things and also the fact that The the dollar has held its value over Time so other countries who are Competing on other other Playing Fields May want to they want to establish Different currencies but really the Dollar is the one that's going to be Used more broadly in international Commerce because we have those aspects In other countries don't Well that's true to now but my question Is are you concerned about the actions These countries uh because if they they
See themselves being challenged or are Concerned for instance if China would Invade Taiwan Um you know as Russia invaded Ukraine There were some sanctions put on and I Don't disagree with the sanctions the Last time you were here though Mr Chairman I asked a question because it's An instructive moment for us the Standpoint that knowing that we put Sanctions and on on Russia all their Different accounts as well as oligarchs From that country uh are we thinking About doing the same thing in China when They invite invade Taiwan and your Answer at that point was no we passed a Bill out of this Congress out of this Committee last week to ask the Administration basically to start Thinking about that in those terms what Kind of uh situations can you come up With are you talking to allies begin to Talk to them to start putting together a List of how you would go about Sanctioning the the different Individuals the different accounts Things like that so have you started Thinking about that at all yet well let Me say the business of sanctions is Entirely uh in the hands of the elected Government and the treasury okay so more BS from the Federal Reserve chairman Look at this FDX debtors launched Lawsuit against grayscale says crypto
Titan charged uh 1.3 billion in Exorbitant fees this is this is a Narrative that is beginning right now Because CNBC apparently was told to Really hammer on this yesterday when They interviewed the CEO of grayscale if You remember Um Becky quick was going all after him Literally making fun of the guy about Their fees so apparently they've been Activated against grayscale now these Two clowns I do not feel sorry for Because I don't have sources on this Channel but I have been told behind the Scenes that these guys were literally Making fun of Ripple when the when the SEC sued Ripple these two CL and these Two clowns never did even entertain even With customer demand they never even Entertained the idea of putting xrp on The Gemini exchange because their Ideologues not businessmen and so they Deserve whatever they get JP Morgan is Now know Ditching them and pour them do I feel Sorry for them now Mike novogratz who Always seems to know what what The Regulators are doing before the retail Public knows said this in a um Rao Paul Interview it'll it'll burn through in The faster what about the fight between The cftc and the SEC because that needs To get resolved for everybody right yeah I think that's that's on hold for a
While they're both like we never said That by the way you know uh they were Both very very close with Sam how does He know Uh and And again you know a lot of people were A lot of people got Snookers uh but Sam Was was Negotiating to pretty much have Dominance so a cash exchange in cfdc Regulates how does he know Uh and You know the SEC was going to bless that As long as they got to do you know Non-bitcoin and ether and and so there Was this how does he know Negotiation going on that was this close To getting done and so I think they're Both just trying to stay as far away From it as possible and to be as tough Remember this is the same guy that Predicted that uh that before like days Before Hinman came out and gave his Ethereum free pass speech he predicted We've played you the video he predicted That uh they'll say I have a dumbs to Donuts they'll come out and they'll say Ethereum used to be a security but now It's not I mean literally called it Because he had to know Then he said this because he's got the Cftc hanging out in his office folks That talk me through what you thought When you saw this FTX thing unravel we
Kind of most of us was kind of knew the Alameda link with FTX Wasn't right you know it's like so I I People I I'm running me uh but I kind of thought That was the cost of the liquidity Um I could improve the airfront running Me but there is a couple of times it Certainly felt like I was getting Squeezed and so do my positions I was Like to be I thought they were breaking The law but you know that's just kind of What people do sometimes right Hahaha I Was very candid two weeks before that Happened with the cftc Commissioners uh They were in my office I was like dudes I I'm making an actual allocation I'm Just telling you my instinct was be a Front runner and you can't have someone Be in charge of Victory liquidity and Have a proprietary group 15 feet away uh And they were like yeah we got it we get It we get it but we get it we get it we Get it and there's no accountability for The cftc or the SEC who were very close According to him to Sam bankman freed Instead they go after crypto how about Go after yourselves how about get fired Silvergate folds in the first bank Failure in U.S since 2020 and this guy's Comments my favorite Elizabeth Warren Immediately jumps on this to try to
Taint the crypto industry when it's Actually a bank failure for the same Reasons any other bank would fail but he Says what a hoe silvergate is screwed Because they had fractional reserves Like every other bank nothing to do with Crypto Now Mark Phillips I think lays it out Right here look at this SEC implies Clarity for Bitcoin ethereum Wall Street weaponizes sec to sue Ripple Xrp off limits for U.S banks and most Retail SEC allows real fraud FTX Celsius Etc Congress uses fraud as excuse to Hobble all crypto Wall Street readys Custody Solutions Regulators narrow USD On off ramps to starve exchanges and Weakened digital asset projects SEC Expands reach to all crypto including Bitcoin and ethereum Wall Street kills Or consumes all crypto exchanges Regulators bless crypto projects offered By Wall Street I would add number 11. Xrp becomes the only digital asset with Clarity While all of this other stuff is going On What if And then finally I wanted to show you This because all this reminds me of this I don't know if this was an exact quote From David Schwartz but this guy had put It out but I do know that this was said In Singapore to I think it I can't
Remember who it was said to but it was Said in Singapore by David Schwartz in So many words Those are a theory going around at one Time that oh xrp rise is going to be Slow and steady and in in essence David Schwartz was making the point that yeah Because of utility that that price will Will start Rising slow and steady but at Some point The market will realize that that's Happening because of utility and then They'll Pile in they'll come running in Because all of a sudden you will have an Asset maybe for the first time in History that has a slow rise to it Because of a utility and I don't know That that's ever happened before And then you add the Spectrum I've Always compared it to a bathtub with the Water Rising slowly rising and then the Speculators bouncing off of the top of That Rising water that's the way I've Always thought of this thing we'll add To that what happens when xrp gets Clarity out of this lawsuit and the Market finally realizes hey wait a Minute all of a sudden we did we thought That Ripple was under attack here and All of a sudden because of the lawsuit Xrp is the only thing that's got only Digital asset that's got Clarity which Means that I'm assuming that anything Built on The xrp Ledger would also have
Clarity how about them apples I'm the Digital asset investor I'm not an Investment advisor this is for Entertainment purposes only Please Subscribe hit the like button and tell Your friends and family That I love this Theory right here