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Hello this is Matt on the moon Lambo Channel you may recall that the SEC Hilariously is demanding that Ripple end Up Paying ultimate penalties including Disgorgement of upwards of $2 billion Doll that's right2 billion dollar with a Be that was the the news in recent weeks Well now Ripple has filed its opposition To the sec's motion for remedies and Entry of final judgment and I'll tell You two things that I found super Interesting right out the gate and then I'm going to share with you perspect From four different attorneys within the Xrp Community uh first of all Ripple is Suggesting that they pay as a penalty no More than $10 million that's what Ripple's attorneys have have set forth Here in this this document that they Filed uh which of course judge Torres Will be reviewing uh that's a far cry From2 billion two billion 10 million Max Uh so we'll see what happens there um One of the attorneys that I'm going to Share with you perspective from U made a Prediction as to what is actually most Likely to be paid by Ripple so we'll get Into that a little bit later in the Video um also and this this is truly Fascinating so I I've talked a lot about What Ripple could potentially do moving Forward if xrp were not allowed to be Used in the United States uh for uh for
Crossb payments for the xrp as a bridge Currency via odl and I said really all They'd have to do is just use a Different coin just for corridors that Touch the United States and it's not in The end that big of a deal well we now Found out thanks to this doc They're doing that right now they're not Using xrp in on demand liquidity Specifically because of all the SEC Nonsense they prefer to use xrp but in Corridors touched in the United States Nope they're Not um so that's you know that's just Something that I had speculated on a lot Of others in the community had Speculated on and now for the first time As far as I'm aware we have actual Confirmation of that so I'll share with You the specifics but uh before we go Further I do want to be clear I do not Have a financial background of any kind I am not offering Financial advice and You definitely should not buy or sell Anything because of anything I say right I'm just an Enthusiast who enjoy is Making YouTube videos about crypto Related topics but just as a hobby and Just for fun all right shout out and Credit to Attorney James K filing for Sharing this document also John deon's Cryptool Law organization share this Document as well um unfortunately I Don't have any uh perspective from
Attorney John Deon at this particular Juncture in time he hasn't shared Anything that I've seen on social media But he's also running a senate campaign So he's probably a little bit busy so Easily forgivable uh but I do have Perspective from attorney Hogan attorney Bill Morgan attorney James Murphy and Attorney Fred RIS pooy so um here's a Post from Stuart aldera of course he's Ripple's Chief legal officer the in top In-house lawyer and here's what he wrote Our opposition to the sec's request for $2 billion in penalties for legacy Institutional sales is now public in a Case that had no allegations or findings Of recklessness or fraud and in which Ripple won on significant issues the Sec's ask is just more evidence of its Ongoing intimidation against all of Crypto in the United States we remain Confident that the judge will approach This final remedies phase fairly yeah And I'm very optimistic for that as well Uh the SEC hasn't been getting away with Much of their BS right let's just say That it's pretty safe to conclude we're More likely than that Ripple's going to Think that the final outcome is going to Be okay not I'm thrilled that they Necessarily have to pay anything because I think all this this the entirety of This thing is bogus but it is what it is Um Ripple CEO brag ging house reposted
That from steuart aldate and Brad wrote The Following feels appr propo that we File our response on the same day that Two SEC lawyers resign in quotes uh for Their misconduct in the debt box case The US will be picking up the pieces of The agency's disastrous uh policies long After guinsler is gone and in case he Had heard I just mentioned it these are The two SEC assat PR attorneys that Ended up quote unquote resigning um and I don't want to spend much time on this I want to focus on the main topic at Hand here but I'll just briefly mention This just so you know what's what what Did happen here's headline from coindesk 2 SEC lawyers resign following debt box Sanctions Fiasco Bloomberg two lawyers From the US Securities and Exchange Commission were forced to resign after a Federal judge sanctioned the agency last Month for committing a gross abuse use Of power that's a quote while attempting To secure a temporary restraining order Against Utah based crypto company debt Box according to a Monday report from Bloomberg and so I reported on that Thoroughly at the time it's just a Repulsive act these these people are Just despicable humans so far as I'm Concerned um so it's just it is kind of Funny that happens on the same day and That's what Brad Garland house was Talking about just so you know uh here
Is a post from uh attorney Jeremy Hogan The SEC has big legal problems to Address if it wants to get a win against Ripple and I still think it squandered Its opportunity to get ahead with its First brief I will be going live Tomorrow to discuss on crypto law Us uh $1.95 billion or $10 million or What will it be so I'm looking forward I'm going to check that out tomorrow I Don't know if I'll be able to literally Live but I'm going to check out that Video for sure I'll be very curious to See uh what he has to say uh with Attorney John Deon on YouTube uh here's A post from attorney Bill Morgan he Shared a screen grab from the filing and Which I'll read in a second but first I'm going to read with read to you what Attorney Morgan said he said in summary I think this argument is correct and Discouragement should not be awarded Where it would give investors a windfall Ripple looks in good shape for Tores to Apply goil and Order no discouragement And so they're just referencing a Separate case the govil case and and What they're getting at here is I mean It's it's just it it is a matter of fact That Ripple's customers were not Financially harmed as a result of any of These transactions so if there were some Sort of um some sort of disgorgement Here then the customers which were not
Financially harmed would just have this Windfall of profit because reasons Completely absurd obviously so that's Why judge Torres should not allow that To happen I don't think she will uh but Uh the screen grab that he shared reads As follows and again referencing a Separate case the gville Case gille's Logic applies here even more strongly Ripple committed no fraud it made pre- Complaint institutional sales to 41 Buyers after years of investigation and More years of Discovery the SEC does not And cannot point to any institutional Buyer that lost money as a result of Purchasing xrp from Ripple instead those Buyers received the benefit of their Bargain any discouragement for them Would be conferring a windfall so think About this not only can the SEC and Believe me they point this out they Could but not only can the SEC not point Out to a single Ripple customer being Financially harmed as a result of any of This despite that being the case they're Seeking two billion doll in penalties And discouragement two billion that is Laughable I I can only imagine that when Judge Tores first saw that that's what The SEC serious seriously suggested I Can only imagine that she laughed Hysterically because that is Ridiculous like how can you even take That seriously it just doesn't even make
Sense here's another post from attorney Bill Morgan and U he just shared another Screen grab and he wrote uh I have Argued for three years that odl Contracts are not investment contracts And at last Ripple makes cogent Arguments that odl sales are not Investment contracts as the odl Customers only hold xrp for a few Seconds not as investment but to effect A crossborder payment not only can't the Odl customer expect profits from buying Xrp as an investment but it can't earn Profits from the purchase it is Prevented from doing so by Ripple's Contracts so how about that's why this Whole this that's another reason this is All Ridiculous so all the odl stuff the way Judge tour is ruled look I don't agree With it I've talked about it before I Talked about it when the ruling came out Uh July of last year but at least for us Xrp holders we got the piece the only Piece that specifically matters to us Which is that xrp itself is not a Security which is why literally within Hours of that news coming out that Decision being made from Judge Tores multiple cryptocurrency exchanges The very same day relisted xrp way Faster than I would have guessed I was Very happy to see that here's a post
From Attorney James Murphy goes by meta Law man on X as we anticipated Ripple Argues no victims SL no discouragement Relying on the recent second circuit Case I discussed with Scott mker in the Clip Below and then here's a quote from Ripple after years of investigation and More years of Discovery the SEC does not And cannot point to any institutional Buyer that lost money as a result of Purchasing xrp from Ripple end quote Ripple argues for Z discouragement and a Penalty that does not exceed $10 million So those are the goal posts as wants $1.95 billion Ripple says less than10 Million the SEC will get one last brief On the damages question which is May 6th And then it's off to judge Torres for Decision yeah so uh we're going to have Final word on this soon and well before The the the SP run is over I mean that It's that's what's likely anyway who Knows maybe we'll get a decision in this In May maybe it be early June we'll see But it's a virtual certainty that we're Going to have this thing concluded Before the end of this bll and um I Mentioned that only because some people Think that it matters I'm not convinced That it's going to matter to the typical Xrp holder the typical Speculator out There uh because xrp already has its Legal Clarity that that's the that's the
Part that matters whether or not Ripple Has to pay zero dollar or actually does Have to pay almost two billion do which Is absurd no matter what it is I just Don't see how it matters to the the Typical xrp holder or Speculator that Doesn't make sense to me so if the Market moves which fine I Mean I I can't imagine it's going to be Something too meaningful but I Acknowledge I guess it's possible I just Don't think it's remotely probable that Even if it does move on the news um Again it's just Irrational and I just maybe it'd be one Of the short of things but I'm not even As confident about that like if if xrp Price actually starts to move given that We're in a bull market who knows maybe People are going to be that exuberant About it but it it' just be kind of Silly cuz the piece that mattered Happened last July and the only reason That it did run higher than it did last July is because Bitcoin was in a Downtrend and xrp fils the market so Without expansion in the market you it Shouldn't be surprising that happen like Xrp's never gone on a crazy run and hit A new all-time high if there's not Expansion going on for the entire crypto Asset class and there wasn't at the time So now if you start to see that if Things line up a certain way
Okay excuse me but either way I just I Don't think that this actually matters Do like answer for yourself you Listening tell me in the comments Section below does it matter to you do Like are you going to be more confident In xrp based on whatever happens in the Remedies portion of this trial because I I just I don't see the logic how does it Matter to you listening to this as an Xrp holder it it's does not make sense Anyway uh here's what Attorney Fred Rispoli had to say here's my hot take on Ripple's opposition to remedy's motion The tool long didn't read version is That anything greater than $10 million Total would be unfair and inappropriate Ripple is in a great position to win This one but there are unfortunately Ominous Signs first as predicted Ripple has Changed its operations to account for The the Court ruling uh it's uh it's Kept all its major odl offshore mainly In Singapore Tores uh in my opinion will Not get into a factual fight on an Incomplete record so Ripple wins because SEC can't carry its burden interestingly Or sadly maybe uh for us odl we have Confirmation why Ripple decided to issue A stable coin to allow us-based clients To use odl but not Xrp also great to see Ripple shove SEC Statement about losing in its face so
Let me pause right there and I do have The actual document um I didn't see Maybe I missed it I didn't see what he's Talking about there so here's what I did See this is on page seven Ripples and This is what Ripple's attorneys wrote Ripple's remaining odl business in the United States uses a non xrp Bridge Currency so they're using something else Right now today I don't know what they Didn't say Uh probably not Bitcoin I would Hazard That guess they could be using a they Could be using a stable coin they could Be using what if they're using I don't I Don't freaking know I have no idea it's Not xrp though because they can't they Don't feel like they can right now so um The part that I didn't see because he Wrote here now we know why Ripple wants To launch a stable coin well they Already have a solution so I unless I Miss something I don't see that as the Reason that they're launching a stable Coin in fact from what I had gathered And the way that Executives had talked About launching a stable coin um I think A lot of it had to do with the fact that Ripple's just trying to do all things Crypto they're trying to be basically Like the infrastructure of the uh the Entire crypto space to the extent that They can possibly pull that off that's Why they've gotten into custody when
They bought out Medico in May last year Uh that's why they're they're getting Into the stable coin business there's a Lot of profit to be made you know in Doing so so I think that that's probably The primary driver now if they end up Using their own stable coin uh as a Bridge currency in corridors where um That are touching the United States yeah I could see them doing that I I could I've talked about this before like that Wouldn't be surprising all I'm saying And this is I'm just kind it might sound Like I'm nitpicking um but all I'm Really just noting I didn't see and Again I could have missed it maybe Fred Riso saw something and I just missed it But I'm not seeing where Ripple has Indicated that that's why they're Launching a stable coin um and again They already have a solution they're Using something else that isn't the Stable coin because it doesn't exist not Theirs anyway and I just don't know what It is but this is not surprising again I Said this many times before either way Way the the the utility for extrap of Bridge currency it still exist exists And it's still there um anyway uh Attorney respo continues though you know Let me take a sip of water here sorry Folks one second Here you're welcome for me um coughing Away from the microphone I swear it
Seems like most most YouTubers when they When they do have to cough it's almost Like they're intentionally leaning into The damn microphone getting closer knock It off and see that's how incredible I Am for you listening I turn my head to The side um anyway so attorney rispoli Continues Um we're right here I think right also Ripple yeah here we go so a uh exhibit a Is a lengthy declaration from Ripple President Monica long that reveals some Interesting business practices like Stopping institutional sales in 2019 uh Ripple is aiming for money transmitter Licenses in 45 States and changing odl Contracts uh lots more to dive into here And I still need to bad news the parties Are teeing up or posturing on uh round Two yeah check this out folks this this Would not be good I mean xrp is legal Clarity so it's like okay whatever but This wouldn't be good for ripple it Wouldn't be desirable but check this out Ripple tells court if SEC wants to sue On the new contracts it needs to bring a New enforcement action SEC getting Hammered with a low penalty will help in Dissuading a repeat enforcement action I Was right Ripple did throw in the debt Box case not incredibly relevant but if The SEC wanted to throw X posts in the Judge's face then Ripple be one uping it With throwing job ending sanctions out
There and you got to love that that is That that was a good call by attorney R Poly there and he says um the number of Characters redacted on page 23 R1 R12 Meaning less than $9 million at most This this is where Ripple got its $10 Million number from and SEC has the gal To ask for $2 billion when it only Sanctions its boys a couple Millie not Going to persuade judge Torres here SEC And then he notes at the end to kind of Wrap this up that um his prediction is That Ripple pays $25 million or less so That would that would be the the max $25 Million yeah and so since I'm not an Attorney I'm not even going to bother Making the predictions I I hope that's Right um I don't think it's going to be Anywhere near what the SEC is is asking For those assap Pricks are out of their Goddamn Minds what the hell $2 billion No fraud no recklessness SEC can't even Point to any actual losses from Ripple Customers there aren't any nobody was Financially harmed and $2 billion get The hell out of here with that nonsense That's why I said earlier if I'm judge Tes I'm laughing the first time I see That that's what they're they're Suggesting it's just it's just a Disgrace what an awful agency I'm not a financial adviser you should Not buy your sell anything because of Anything I say or right that would be a
Very very very bad idea until next time To the Moon Lambo
