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I am not a licensed financial advisor. All videos on this channel are intended for entertainment purposes only. You should not buy, sell, or invest in any asset based on what I say in these videos. You should know that investing carries extreme risks. You could lose your entire investment. This is not trading advice and I am in no way liable for any losses incurred.
[Music] Ignition sequence starts six five four Three two one zero liftoff we have a Liftoff [Music] Hey everybody this is the digital asset Investor and wait till you see what I Found today it's unbelievable how Corrupt this country has become I wait Till you see what I show you in this Video just found it this morning all Right Um first I want to show you this you're Looking at coin paprika and I've covered This before One thing that's very interesting about Xrp and xlm is that they always track Each other and they don't track the rest Of the market typically here's Both of them hit their all-time high on January 4th 2018 at the same time 1877 days ago if you go down here and You look You'll see if I can find it Where Stellar Stellar's gotten way on Down the list but I think I missed it Come on now Did I miss it here There it is right there sorry okay January 4th 2018 1877 days ago and then if you look at The return rates for the year Xrp 41.21 as you go down to
Um Stellar right here 47 so they always Stay pretty close pretty tight in a Range I've always found that interesting Well egrag crypto put out a tweet about This xlm price in comparison to xrp I've Been following xlm for a couple years And I all I observed that the price of Xlm is on average 30 to 40 percent plus Or minus from the price of xrp if this Is the case below is my xlm price Prediction the more xrp moons the more Xlm moves I think that these two are Kind of interchangeable in the I think If one of them is successful both of Them are going to be successful and vice Versa but he's got um like say xrp three Dollars XL 105 xrp 5.175 xlm let's take the good numbers 17 595 xlm 27.945 xlm I love the look of that and That's how I think this story ends up Too now does anybody remember Lowell Mass I'm going to refresh your memory This is Lowell Ness who is the attorney The crypto attorney for a16z Andrews and Horowitz which is the firm that was Behind what getting the ethereum free Pass and this was his story this is Lowell now Jay went on the war path to These um uh these uh these these Scathing speeches and calling out the Industry and everybody so but he he then After talking to grunfest in a fireside Chat at Stanford campus made his way
Over to see Andresen the next morning And this is the department now not a lot Of people know and he invited Chris Dixon to round up the sort of the The industry players who were really Kind of trying to do it the right way And asked for a couple the things one Essentially you know lay out in a very Detailed written Footnoted memo What existing law says about util ities And two give us a proposal for where to Go from here and so uh in recent I've Been representing Andreessen in all of Their crypto Investments of the since The beginning and so um So I got the chance to be the one to Write all that stuff so and I pulled in Uh Cooley and I pulled in a couple of The law firms so we've now got a nice Little working group of law firms that Are in the space that are doing this Um the The general Reception I think we got when we visited The SEC back in April was actually Really positive and uh full Decentralization and that's what the Hinman's speech which tracks my memo Pretty well has has come out and said And the him and speech has generally Said okay decentralization we think gets Both Bitcoin and ether out of Securities Now that was what that was what the goal
Was so the current crypto Market has Been dictated by a bunch of guys with Conflicts of interest out the wazoo Remember he was a16z's attorney as far As I know he still is for crypto He's sitting across a table From Bill Hinman and he helped he wrote The memo that got That got Bitcoin and ethereum the free Pass and I'm going to show you I'm going To remind you about those conflicts but Listen to what he says here and there's A question that I really wanted to ask You this is from five days ago he looks A lot different almost as if The eighth gate being exposed may have Affected him it's in the along the same Lines but kind of slightly going in a Slightly different direction is in and Around xrp and ripple what are your Thoughts is it going to have an impact Is it going to drive markets is it is There going to be uh some kind of a Bubble bursting is it the dagger a Crypto or is it a breath of fresh air Well gosh I I don't know where these Court cases are gonna wind up I think You know I sort of alluded to it earlier There's a lot of these cases floating Around that the SEC seems to be taking This this more of a approach of allowing The courts frankly to make the decisions And by by bringing these cases they're They're turning it over to to judges and
Maybe that's the right answer but but It's at the end of the day we're going To figure out I guess through case law You know what is the security and what Is this mutability mean and where are we Going to go from here but whether it's The library case or the Ripple case I Think there's some really important Questions about you know even if Something might have been a violation on Its facts and circumstances at the time Is it still is secured you know today And that's a really important I think Question for a lot of you know all the All the coinbases in the world that are Trading all these utility tokens they Want to know you know is this is are These things Securities today are or They have they transitioned to commodity Status And that's a I think that's a very big Open question honestly in the case law That the cases like librarian Ripple may Start to shed some light on and you know It would have been nice if the SEC sat Down and really thought this through and Came out with a position that's sort of What we had advocated is let's let's Come up with a you know more of a rule Making Safe Harbor type approach that Makes sense but it's really hard to do That I mean it's in some ways we had to Get Bitcoin in ethereum through the door Because that's who these are the people
That are that we represent we had to the Question is did they promise Bill Himmond Job because it was probably always going To end up there you probably wouldn't Have come up with a thing that pleased Everybody anyway so we probably would Have wind up wind up in court but but That's where we are and and we're going To see what what some of the judges Think here and you know some of the cool Open questions are you know do you when You look at it investment kind of think About how insulting this is this guy and All these people sat in a room with with Uh the SEC and they decided that they Would give this fake this fake guidance For Bitcoin and ethereum and that that's What the market is as we sit here today Three or four years later they would Give this fake guidance then they would Make everybody else have to go through a Lawsuit so that they could have a Monopoly on the market that's exactly What they did Time security historically when things Were an investment contract we just Didn't do them we just didn't move the Project forward we just said oh sorry You're you're violating Securities laws But with the Advent of crypto we now Have this crazy product Market fit for Things that could arguably be investment Contracts so we are having to figure out
What that means like we don't have line Item disclosure requirements for Investment companies we have it for Equity type Securities and debt type Securities and that's it and so it Really becomes an interesting thought Experiment in terms of gosh what are you Know investment contracts what's Material to the holder of the investment Contract you know the issuer doesn't Always have all the answers you know When you're talking about something That's completely decentralized with a Value proposition of the tokens is Dependent on a whole bunch of projects That are creating the the demand for the Project that's it sort of becomes this Decentralized thing that nobody really Knows what information is going to move The market because it you know the Features and functionality are just not Moving the market anymore it's really Demand and once that demand becomes Totally decentralized you have a very Interesting problem so that's I think Figuring out where and when and how These investment contracts change from Being investment contracts to a Non-security transaction when you when You sell the token is a tough one all Right and then in this clip he he almost Suggests that there's going to be a new Howie test like maybe a ripple test You're kind of suggesting that
Potentially there could be a new a new Howie moving forward and is that fair to Say it's really the same Howie but just With uh some of the open questions Answered that you know there's only so Many cases and so many issues that have Been decided on this topic of what is The security and those cases that are Out there leave open some some of some Of these questions that relate to Investment contracts in particular That's where I think we can see some Case law actually being significant here Is answering some of the open questions On investment contracts you're kind of Suggesting them all right now here is The golden clip right here folks this One right here is the one okay do you Know how long the SEC lied in court into The media and said that this the the Bill Hinman ethereum speech was his own Personal opinion do you know how long I Think Bill Hinton I think Bill Hinman Said that in his deposition in the Ripple case They lied for they lied for I think it Was about a year about that issue and Then tried to backtrack here lowellness Tells you exactly what happened when he Sat across the table from Bill Hinman at The SEC And I just in my playbook these days in Fact honestly ever since uh I sat across From Bill Inman and he sort of said you
Know I'm gonna we're gonna accept your Proposal to give some guidance here I Stopped giving guidance I said let's be Consistent with the sec's hand wave Approach here because that's who matters You know when you get to when you get Into court like the Court's going to Give deference to the regulator nobody Wants to I mean I get that I really do And my heart is in it I love the Academic arguments about whether or not Something should be a security but I Just think honestly to be pragmatic here You should just read it like security And be done with it and move on because We all know how to do that and so that's To me the path of least resistance right Now until case law change you think About that A16-z's attorney sits across the table At the SEC from Bill Hinman okay and and Bill Hinman says I'm going to accept Your proposal and so we're going to give A framework that just works for Bitcoin And ethereum to get those out from under Securities laws and then He just pops up Bill Hinman himself pops Up and he becomes a partner at Andrews And Horowitz the same firm that that Attorney represents And this is what Americans are putting Up with from this agency un freaking Believable and then you got Gary Gensler Come in now this is for all you ethereum
Guys out there that think you you Gary Gensler it looks like I don't know but It looks like he might be throwing Bill Hinman under the bus now but that Doesn't mean we don't we don't know he Hasn't done anything against ethereum This might just be all talk Might just be trying to cover his butt Gary can Gary Gensler survive crypto Winner and I'll go ahead and tell you It'll it'll make you want to throw up Because what they're trying to do is They're trying to make make it appear That Gary Gensler in his meetings with FTX he was just being real hard on him And like not letting them get away with Anything yeah okay well look at this Clip out of this article and I said uh Oh ethereum this is Gary Gensler Everything other than Bitcoin Gensler Told me you can find a website you can Find a group of entrepreneurs they might Set up their legal entities in a tax Haven offshore ethereum they might have A foundation ethereum they might lawyer It up to try and Arbitrage and make it Hard jurisdictionally or so forth Ethereum in other words there are people Behind These cryptocurrencies using a Variety of complex and legally opaque Mechanisms but at the most basic level They are trying to promote their tokens And entice investors ethereum Bitcoin Because of you you of its unique history
And creation story well that's exactly What it is is a creation story Gary you Need to call Homeland Security because They met with the four founders of bitco The four creators of Bitcoin the four Satoshi's that's all you got to do and Then Bitcoin comes out from under uh out From under protection too They might drop their tokens overseas at First and contend or pretend that it's Going to take six months before they can Come back to the U.S he continued but at The core he argued these tokens are Securities because there's a group of Middle and public The public's Anticipating profits based on that group Now folks let's not forget one of the People that as I recall Gary did not Like what they were doing was the Luna Guy wasn't he doing that out of South Korea And thought he was out of the reach of The SEC it seems like I remember Watching an interview but guess what If bitboy was right FTX came and saved The day bit boy said that FTX was behind The collapse of Luna and and a lot of The other crashes And they just happened at the same time To be meeting with Gary Gensler who Couldn't who who Luna Was Out Of Reach Of Far as Hurting them in any way right I'm the
Digital asset investor I'm not an Investment advisor this is for Entertainment purposes only Please Subscribe hit the like button tell your Friends and family this is it doesn't Get much shadier than all of this thanks For listening [Music] Foreign [Music]
