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Hello this is Matt on the moon Lambo Channel I've got a few topics to share With you in this latest Moon Lambo Hot Jam look at this headline from the Crypto basic this one is a little bit Peculiar at least on the surface Ripple CTO reacts to mysterious 410 million xrp Transfer with strange 20 xrp gas fee and So I'll tell you here even at the outset The part that's peculiar about this is That since given we all know xrp Transactions are so cheap that they Might as well be free Why would there be a 20 xrp fee for a Transaction at a current at the current Market price that's roughly $10 so if it cost $10 to move 410 Million xrp we got ourselves a problem With the xrp Ledger um and then there's also this Headline from the daily hoddle an SPF Testimony could add decades to his Prison sentence according to lawyer Here's why and I'll end the video with That one um and then I'll start actually With um just a quick little shout out to Attorney John Deon because I'll tell you What like this is my personal opinion But I'm willing to bet that the vast Majority if not all of you are probably Going to feel the same uh there's if There's one person that deserves support From the entirety of the xrp community It's Attorney John Deon and I want to
Give him a shout out and I'll explain Why in just a second but before going Further I do to be clear I do not have a Financial background of any kind I'm not Offering Financial advice and you Definitely should not buy or sell Anything because of anything I say or Right I'm just an Enthusiast who enjoys Making YouTube videos about crypto Related topics but just as a hobby and Just for fun all right so something Pretty darn cool happened the other day Attorney John Deon was on National Television which isn't the first time He's been on on Fox Business a number of Times but yesterday he was on and the Entire segment uh was a was a talk about John deon's new book called food stamp Warrior and I've talked about it on my Channel I've talked about it on social Media platform X and tons of other People have as well and I just thought It was cool as hell that you know he Just put this book out in recent weeks And here he's a guest and he he's like He's the most well-known guy in the Entire xrp community and here he is on National television and he's able to Talk about his book that he put out and Um and I by the way I I do have the book I haven't finished it yet and so have More to say once I finish it I know a Lot of you listening have already read Through the whole thing I am going to um
But it I'll just say this it is Absolutely gripping I like it it is one Of those things where like anytime I put It up put or I start reading it it's Hard to put it down because I get to a Certain point and it's like I know I Need to go and I got to do other stuff Or I have to go to sleep or something And then like I don't want to stop but I Have to make myself stop because it's Just so it's just it just it keeps you Hooked it just does and um you can get Your own copy by the way he didn't ask Me to talk about this you know I just I Just I want to uh support him because He's done so much for us we very well May have had a very different outcome For xrp if not for attorney John Deon Seriously I think there's a there's a Real good chance it wouldn't been been As clear certainly because I mean we got In no uncertain terms legal Clarity Specifically for xrp literally declared By judge Torres xrp is not a security um So I just wanted to let you know if you Haven't purchased the book yet you're Not going to be disappointed if you do Just hop on over to Amazon typ in food Stamp Warrior John Deon it's going to Pop right on up I got myself a hard copy Of it but I'll talk more about it as Soon as I finish it but I just think That we should support him like he has Done so much for so many people the
World over like who in the xrp community Deserves to be supported more than Attorney John de like name one person Not that there aren't others that Deserve to be supported but uh he he's Number one in my mind I'm just saying And it's cool as hell that he's you know He's an xrp Community member the most Well-known and he's on National Television I think it's cool as hell What a cool story Total victory for us It's just it's absolutely fantastic to See um I also wanted to highlight this Because as you've heard by now yesterday Um there was fake news about the uh About uh the SEC approving a spot Bitcoin ETF for black rock it was Totally fake news I talked about it Already so I'm not going to go in depth On that other than to note that as a Result of that occurring the US Securities and Exchange Commission Official X account formerly known as Twitter their official account shared This post which reads as follows after The news was found to be fake they wrote The Following care what you read on the Internet the best source of information About the SEC is the SEC did you guys have a similar response To me upon upon hearing that like when I Read that I was like I had the same Response as xrb Community member Weezy Which is the reason I came across this
But I was like is this is this even real They're the best source about themselves No they're not no they're not and here Xrp Community member Wheezy wrote had to Check if this was a parody account Coming from one of the most corrupt Government or organizations they're a Complete joke and so actually Attorney John Deon he even reposted that here's What Attorney John Deon had to say Here's a Surprise I disagree with the sec's Latest statement the best source of Information about the SEC is not the SEC Confirmation bias and self-serving Statements by the SEC disqualify it Likewise pissed off investors are too Close to be objective therefore we look To judges who are independent and serve As oversight and a check on the SEC to Help shape our view of the SEC an appell At court found the SEC to be arbitrary And capricious do you know how easy it Is to defeat a claim of arbitrary and Capricious all the regulator needs to do Is provide a plausible explanation for The denial it doesn't have to be a good Explanation or even a correct one even If the appell at court disagrees with The sec's rationale it can't find the SEC arbitrary and capricious if the Sec's reason makes plausible sense yet Despite such an easy standard to meet in Order to defeat an arbitrary and
Capricious finding the SEC couldn't do It the appell at court unanimously Concluded the sec's denial of a spot ETF Was utter Nonsense finally a federal judge is the Southern district New York called the uh The SEC lawyers Hypocrites and stated They lacked faithful allegiance to the Law ouch so when it comes to the SEC I Choose to listen to judges and man are They speaking loudly okay now ain't that The damn truth if you look at how judges Have been responding to every crypto Case in particular this year even the Ones that not fully adjudicated yet the Way that they're talking to these ass Hat Attorneys at the SEC it is not Favorable for the SEC it it's favorable For us in the world of Crypto and uh that's reason for Optimism all right on to the next topic Here Ripple CTO reacts to mysterious 410 Million xrp transfer with strange 20 xrp Gas fee a surprising and massive xrp Transaction has sparked consider Considerable curiosity among the xrp Army due to its unusual details the Development has prompted Ripple's Chief Technology officer David Schwarz to Offer additional insights to unravel the Details of the transactions specifically Pro xrp crypto Enthusiast Saul recently Took to X to share his Discovery while Exploring xrp scan a prominent xrp
Ledger Explorer he claimed to have noticed the Activation of an xrp address on October 11th however what raised his curiosity Was the astonishing inflow of 410 million xrp into the newly cre Created wallet alongside the associated Fee in particular the transfer of 410 Million xrp valued at over 203 million Featured an an uncommon transaction fee Of 20 xrp this xrp paid for gas raised Eyebrows because the standard fee for Xrp transactions is a mere 0.0000001 xrp and so folks I'll just Pause to note here and this is why xrp Is so incredible it's the best crypto Currency on the planet for anything Payments related but you know I Understand that even 20 xrp that's not Like some crazy high fee if you're Comparing to Legacy Finance but you know That's still 10 bucks in today's United States dollars right roughly if you look At the current market price of xrp and So you know those are the types of fees That depending on the amount of Congestion at the time you've become Accustomed to pay on other blockchains Whether it's Bitcoin or eth I mean I Remember in late 2017 seeing fees for Bitcoin over $50 and so at peak times not exactly hot Stuff you know what I'm saying but you Don't expect to see that with xrp and
The xrp Ledger that's the selling point So what gives here well there's a pretty Reasonable explanation and even if we Can't know with 100% certainty there's a Pretty reasonable suspicion here so Anyway piece continues as a result Saul Brought the issue to the attention of The xrp community he directed his Inquiry to vet a and that's that's the Name V vet a prominent xrp Ledger Validator Is it normal for a payment like this to Have a 20 xrp fee salul asked vet Responded that a 410 million xrp Transaction should not have a 20 xrp fee It is an Overkill he remarked and that's A direct Quote and so then David Schwarz actually Jumped in and I think that he's getting To the core of this here and I actually Have seen not frequently but I have seen Uh similar instances of this um and so David Schwarz respond responded and Wrote I wonder if they meant to set the Fee to 20 drops and were off by a factor Of a million which is kind of funny when You word it like that frankly uh because When you're and it literally is because Mind you um for those of you that don't Know uh so well I'm assuming that most Of you know that the there a bunch of Little pieces inside of xrp they're Individual units and the smallest unit Inside of an xrp is called they drop
Just like with Bitcoin the smallest unit Inside of a Bitcoin is called the Satoshi well what many what many you may Or may not know um is that there are so Xrp is actually divisible by 1 million So there's 1 million units inside of Each xrp and for Bitcoin there's way More inside of each Bitcoin there's Actually 100 million units inside of of Each individual Bitcoin which which by the way and this Is just a little side bar here I'll just Mention this you know people have said Look there's like 5,000 times as much Xrp as there's Bitcoin it's never going To be worth so and so and I've been Hearing that since I jumped into crypto Which doesn't make any sense for a ton Of reasons uh and that's not the purpose Of the video so I won't get to off the Beaten path here but I I thought I'd Mention since we're since I'm bringing This up here uh that if you look at the Number of units because again Bitcoin is Divisible by 100 million whereas xrp is Only divisible by 1 million there's Actually only if you look at the Circulating SP out anyway there's only About 50 times as much xrp uh drops as There are Bitcoin Satoshi so if you look At I could probably clean up the wording On that there's only About there's only about uh 50 times as Many drops as there are satoshis that's
The best way to word that just clean it Up there and and so it's it's not 5,000 Like a lot of people would say it's in The Thousand well I mean if you're if You're talking about the highest level But if you look at individual units no It's actually not that far off not that It even matters but a lot of people Don't even realize that and so anyway That's why when you look at David Schwarz's comment here he says again I Wonder if they meant to set the fee to 20 drops and were off by a factor of a Million right and so that makes sense You probably it's probably fat finger Syndrome that's probably what it was Instead of 20 drops which is what they Meant to type in uh they should have had Some zeros before that first two right Well the only two would have fixed the Problem there or I mean it is possible Also that they just transferred so much They didn't care they were just so lazy And they're just they're they just don't Care about the $10 and they just were Quick they're going about their day like Screw it I don't care I don't even want To think just there that'll definitely Cover it that's possible Too but it's probably one of those you Know that that would be my guess Anyway um and then there's also this From the daily hodle an SPF testimony Could add decades to his prison sentence
According to lawyer here's why a pair of Lawyers unaffiliated with Sam bankman Freed or FTX are weighing in on the Possibility of the former CEO testifying During his ongoing trial in a new Interview with Laura shin on the Unchained podcast Sam enzer partner at Law Firm kahill Gordon and reindel says He thinks bankman freed would likely Only make things worse for himself by Testifying says enzer and this is a Quote what I would say to him is we're Going to lose we're not winning this Trial we have to think about sentencing If you testify you are going to add Decades to your sentence you're not Going to change the outcome and the Judge will find in addition to being Guilty that you not only didn't accept Responsibility but you tried to commit Perjury and this is a judge who will Really slam you for that it's a mistake End quote and so folks I I'll say this Too I think that it's it seems like a High probability to me fine I'm not just I'm not an attorney I just play one on YouTube but it seems like very high Probability that you know scam bankr run Fraud is going to be found guilty and so Then it's just a question is he just Going to go to jail for a few decades or Is it going to be something that's more Like he's going to be there for the rest Of his life and I hope it's the later
Him because he he destroyed so many People's lives but it's going to happen Um so Then if he's do you think he's actually Gonna get put on I'm kind of skeptical Of this and not that they're saying that They think that for sure this is going To happen but they're saying and you Know in in a hypothetical where it is It's probably not good for well yeah I Would buy that I by that it's actually a Really really really bad idea and in Fact as they he explains as we go a Little bit further through this if Anything if if they do this if they put Them on the stand it seems like it's a Hell Mary so let me go a little bit Further they right peace continues on The other hand ener also thinks that Testifying is banet Freed's only shot at A quiddle and could be a desperate Hail Mary attempt to lower his sentence or be Acquitted and he said quote now I do Think his only shot for an acquittal is To testify the evidence is too Overwhelming as far as I can tell and The crosses have just not done enough to Punch holes in the government's case the Only way to give the jury a competing Theory would be for him to testify but I Think even if he testified there's just Too much going against him there's too Much headwind and so I would say don't Do it end quote Greg Strong partner at
DLX law goes on to Echo inser thoughts And he said quote I would agree with That I think it's going to be a be Complicated by the fact that I strongly Believe that he will want to testify and Ultim by the way I'll just pause this Here because this guy is a narcissist The ego is just completely out of Control of this guy he thinks that he Can just say whatever and just be so Smooth that uh he can just trick anybody In believe in whatever the hell comes Out of his stupid little face hole I I Think that he he I I think he's he just To me seems like a sociopath by the way And I've said that before I really mean I just I don't think he gives a damn About anyone he just lies Is what it is says what he has to do and He's even admitted a bunch of Lies you Know the front-facing stuff about how He's altruistic and this or that and About how he he got rid of his luxury Car and started driving might have been A Honda or something like that just so That he'd have the appearance of Liv Living a modest a lifestyle who's Falling for that though are there people Out there who actually fall for EI Either way the point is he's attempting To manipulate that's the point this is That's who this guy is and so I could Believe that if he's on the stand he's Thinking oh yeah I'm going to pull a
Faster one of these guys except for at This point because you know like you the Bloom is off the rose as they say you Know the we got to peek behind the Curtain at who this monster really is Right anyway here's the rest of the Quote from the attorney and Ultimately it's his call so he has to Take the advice of his Lawyers but just stepping back my Experience with people who have been Able to accomplish widescale financial Fraud is that they do it because they Can be very convincing And if they are very convincing to a lot Of people over a long period of time They sort of believe that they have this Ability to convince people whenever they Want to I think that's sort of going to Play into this question of whether or Not he will testify and that's why I Think he will want to testify because I Think he will believe that he can Convince people that he was you know Maybe not as involved as is being Portrayed in the government's case right Now but I think it would be a mistake End quote yep uh that part of the Thinking I'm definitely in line with he Would believe that he can do Whatever the ego of this guy I just he Doesn't give a damn about anybody but Himself but he thinks he can trick he Thinks everybody else is an ID idiot and
He's so smart that's the type of person That is he's an absolute monster so We'll see if he does It I don't think it'll be confir him Either I'd be surprised I just I don't Believe this is going to go well for I Believe that what's most likely is Justice is going to be done let me know What you think 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
