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Hello this is Matt on the moon Lambo Channel I got to tell you at the outset Of the video my firm opinion is that the Xrp community as a whole has had an Incredibly profound impact on the future Of the entire cryptocurrency space that I don't think is sufficiently Appreciated across the board as we sit Here in early 2024 we we know what's Happened here in the xrp community uh we Know what happened with the secv Ripple Case we know exactly the degree to which Our community had an incredible impact In in resulting in just getting a Positive outcome uh in July judge Tor is Declaring that xrp itself is not a Security attorney John Deon representing Over 75,000 xrp holders uh it's it's Incredible it can't be overstated the Importance of that because every single Case after that is looking back to the Secv Ripple case and using that as some Form of precedent even if um it's not Some sort of Legally bound precedent Just just kind of directionally taking Note of what's happened there and and Actually both both are happening frankly And and so take a look at this headline Bloomberg analyst estimates there's a 70% chance coinbase win's motion to to Toss SEC lawsuit so folks the SEC been On a bit of a losing streak in the world Of crypto lately for the most part and There's a strong probability according
To this particular analyst that this Entire secv coinbase lawsuit gets thrown Out and by the way the Ripple lawsuit is Cited as a part of the reason this will Happen because of us here in the xrp Community and huge credit to John Deon Undoubtedly so I'm going to run through That and then there's also this article Bloomberg intelligence analyst unveils Prerequisites for xrp ETF approval so Look I think there will inevitably at Some point in the future be an xrp ETF But this particular particular analyst Thinks that uh there's certain things That need to occur before that happens Uh before going further though I do 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 or right I'm just an Enthusiast who enjoy making YouTube Videos about crypto related topics but Just as a hobby and just for fun all Right so into the per first piece from The daily huddle Bloomberg analist Estimates there's a 70% chance coinbase Wi's motion to toss SEC lawsuit and Folks that would be glorious because They're attacking other coins that I Hold and and I'm sure many of you as Well Right a Bloomberg intelligence analyst Is estimating that top us based crypto
Exchange platform coinbase has a 70% Chance of winning a motion to toss out The US Securities and Exchange Commission's lawsuit against it in a new Thread Bloomberg analyst Elliot Stein Says that before going into a court Hearing on the matter he believed that Coinbase would be able to dismiss the Regulatory agency's accusations Regarding the violation of trading law Specifically but not the sec's other Claims against it so uh pause there Translation is there are certain Accusations that perhaps they could get Tossed out but uh this thing's going to This thing's going to court still that That's what the expectation was going Into this but things changed once he saw How things unfolded peace continues However Stein says that he left the Hearing believing that coinbase would Win a full Dismissal that's almost unheard of According to Stein the reason for that Is because he found coinbase's Definition of investment contract more Compelling compared to the sec's a fact He believes will also defeat The Regulators other claims against the Crypto exchange and here's the quote From Stein coinbase 70% likely to win Coinbase is likely to win this motion we Think the Judge wanted a limiting
Principle to the SEC definition of Investment contract that wouldn't Encompass Collectibles and so folks You've probably heard the arguments if If you apply the the how analysis the Way that the SEC is trying to have it Applied in the world of crypto including The the uh the the case with ripple if They won and it were applied that way Then trading cards would be Securities Right you know poke the Pokemon man out There those are are those cards I don't I've never done the Pokemon thing I know It's Pokemon but I've never done that Thing I'm sure many of you listening Have played the Pokemon stuff uh but but That would be you know hell oranges Would be Frankly but under under such uh an Analysis almost anything would be and I'll actually I'm going to highlight Some more of that as we go a little bit Further through this video so it's it's Completely absurd and so the judge was Looking for what what a limiting Principle would be from the SEC in terms Of investment contract so that it Wouldn't Encompass Collectibles which Are valuable but there's a market around Them and you know the price fir them Goes up and down depending on what's Happening and so anyway he continues we View the one offered by coinbase as more Compelling requiring investment in a
Business versus just an ecosystem along With an enforceable obligation as the Ripple ruling in July suggested sales of Digital assets on public exchanges don't Fit neatly into the Hoy test for what Constitutes an investment contract even If the case survives it likely reaches The Supreme Court which we think will Narrow Howie coinbase's definition of Investment would also beat the SEC Staking claim and coinbase had good Arguments that the sec's allegations Don't sufficiently plead that it was Performing broker functions end quote And so look the sec's on the wrong side Of the history they're out over their Skis they're in a they're in a a heap of Trouble so that's why they're saying Here basically there's a 70% chance that The SEC is screwed and good they should Be these are disgusting monsters as far As I'm concerned pulling this nonsense Speaking of ecosystems right and Applying it to Howie look at at this Post from Bitcoin archive on social Media platform X Bitcoin hash rate hits an all-time High 500 xah hashes and then he said in Quote backed by nothing with a little Curious looking Emoji there and it shows The chart for those you that care to Look at the screen uh now Attorney James Murphy AKA metal law man on X reposted That and wrote The Following during the
Coinbase hearing an SEC lawyer told Judge Fila that Bitcoin is not a Security quote because there is no Ecosystem behind it end Quot no no ecosystem Folks yeah is that right is is that Right okay that in turn was reposted by Attorney John de who wrote it was to me The most ridiculous thing SEC lawyers Uttered at the hearing but then again if There's one thing I've learned about SEC Lawyers it's that they absolutely refuse To let the truth get in their way spot On spot on attorney Deon oh they they Know that they're lying sons of They absolutely know that's why they're Absolutely hell spawns spawns of Satan So far as I'm concerned winged Creatures they just they do not care About truth they don't care about the Investors they're sworn to protect just Whatever it takes to win and so they're Trying to trick Jud they're literally Trying to trick judges I firmly believe That's the case they do not believe the Crap they're arguing they're just doing It they just want to win it's a Jurisdictional land grab there you Go then you have this from steuart Alder Who of course is Ripple's Chief legal Officer and he wrote The Following if The SEC during the howi oral argument Had told the Supreme Court that folks Were investing in an ecosystem of
Oranges they would have been summarily Thrown out of the courtroom the SEC has Strayed so far from the law it would be Laughable if it weren't so sad and Damaging uh yeah spot on and and and by The way Paul Greywell then this is the Chief legal officer for uh for coinbase He has another example here he reposted That from steuart aladi and wrote and I Love this because it's just another Perfect example a thousand times yes if Tokens access to ecosystems without any Access to Enterprise income profits or Assets makes them Securities somebody Better warn Taylor Swift fans before They buy that ticket or t-shirt of Course whoa that sorry about that folks That was my phone that it's on silent I Got I guess I had an alarm Set that just startled the hell out of Me though uh and then he says of course Neither the tokens nor the tickets are Securities no one seriously believes Otherwise but that's the inescapable Results if the commissions is adopted Yeah and so obviously this is a bunch of Silly nonsense and none of this should Uh frankly and I think we all agree on This this should not go forward there is No sane world would we see uh that any Any sort of lawsuit against coinbase Actually go forward because the Allegations they're making actually are That
Outrageous um onto the next piece now Bloomberg intelligence analyst unveils Prerequisites for xrp ETF approval and This is fascinating here so check this Out uh James seford a prominent ETF Research analyst at Bloomberg Intelligence has pointed out the Prerequisites that must be in place Before an xrp exchange traded fund can Come to fruition cord's comment on the Subject came during a recent edition of Coinbase's weekly podcast which centers On the institutional Market call the Hosts highlighted the increasing Discourse surrounding the digital assets That could potentially have an ETF Following Bitcoin in particular they Inquired about the prospects for xrp Considering its established regulatory Status in the United States James cord Indicated that the short answer is not Anytime soon and that's a quote not Anytime soon Uh which by the way I agree with but he Has additional insights because he's in The industry he understands the types of Things that would would have to pass First have to occur before any sort of Institution would move forward with this Um the reason that I I would say not Anytime soon is because I don't think Kim Jean ginzer would be willing to vote For it and and that we were you know we Got the Bitcoin ETF approvals approved
By one vote so I I don't suppose that He's likely to but that doesn't mean it Wouldn't happen and he's not going to be In charge forever anyway peace continues However he acknowledged that the ongoing Secv Ripple court case could potentially Position xrp as the next digital asset To have an ETF furthermore he outlined the current Regulatory template noting the necessity Of a federally regulated Futures market For xrp specifically he pinpointed the Chicago Merkel exchange CME under the US Cftc's Regulation Cort noted that only Bitcoin And ethereum have such regulated Futures Market markets as a result prominent Asset managers have moved to established ETFs for only Bitcoin and ethereum in This context SE C stressed the Importance of a CME Futures market and Possibly a Futures ETF for xrp he Speculated that the SEC might require a Future ztf or allow direct spot trading For the asset and so folks that's Something that the average person like Myself and probably the vast majority of You wouldn't have known and for good Reason like he we don't work we don't Live in that world he does and so I I Just found that fascinating so Apparently that's basically a stepping Stone that is likely going to be a Requirement before you see a spot xrp
ETF but that can happen obviously you Know that it seems more likely that Would get approved before a spot xrp ETF Anyway right anyway peace continues However the Bloomberg analyst remains Skeptical about the latter option in the Current regulatory landscape moreover Steer suggested that a literal Act of US Congress might be needed to address the Market structure for other assets apart From Bitcoin and ethereum he highlighted The ongoing SEC court cases involving Coinbase Kraken and others expressing The need to monitor how these cases Would influence the classification of Digital assets as Securities nonetheless Despite potential positive outcomes from The court case the Bloomberg Bloomberg Analyst remain doubtful about the sec's Approval of an xrp ETF in the near Future he cited concerns about xrp still Being classified as a security by the SEC um so he he may not be as up to date In terms of the legal stuff um even the SEC gave up on the xrp being a security Thing they literally cited that they're Not going to appeal judge torres's Decision on that so he may have been Missing that particular piece but you Know we here in the xrp community were Probably more in tune with that than he Is that's fine he's more in tune with What it takes to get an approval so it Is what it is that's fine I think he's
Just being intellectually honest so I Still think we'll see it just not Anytime soon necessarily probably not This year not while guinsler in charge But it's going to be a coming and it's Going to be fun it'll I'll be I will Look forward to making that video when It happens one day I'm not a financial Adviser you should not buy or 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
