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Hello this is Matt on the moon Lambo Channel it's been a little while since We've gotten an update from Attorney John Deon in terms of what's next for Xrp holders but that's the topic of this Very latest Moon Lambo Hot Jam for those Of you looking at the screen you can see There was a post yesterday from John Deon's crypto law organization in which Uh was posted the question what's next For xrp holders and this resulted in an Article being created from the Crypt Basic titled Ripple vs Deon speaks on Potential settlement remedies and appeal And I got to tell you folks it's still An absolute war zone between the SEC and Ripple despite the major victory that we Had in July last year oh my God talk About scorched Earth in fact the SEC is Still up to sneaky you know just Completely disgusting Maneuvers to try And gain dominance over Ripple which is Really a feudal effort at this point by And large uh but you know about the Remedies portion of what's going on here Um they're trying to get information From Ripple outside the scope of the Actual lawsuit outside of the scope of The actual complaint that started this All back in 2020 it's disgusting just Wait to see the latest crap that they're Trying to pull here also a perspective That I'll be starting off with from Attorney Bill Morgan but before going
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 def 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 um gon to start with What Bill Morgan has to say here um what He's talking about here absolutely is Part of what Attorney John Deon um was Talking about and so this has to do Largely with the fact that the SEC is Seeking information about Ripple's Institutional xrp sales that occurred After the date specified during the Original complaint which of course was Filed as you all know December 22nd 2020 Uh yeah that date's etched in my memory I'm guessing yours as well um but the SEC has not amended the original Complaint so they can't go after those Transactions but here's what attorney Bill Morgan had to Say uh now that moronic fud about the Secv Ripple case has started again it May be time for an update on what is Really Happening and then he's got two bullet Points number one the matter is not About to settle two on January 11th the SEC filed a motion to compel Ripple to Disclose its 2022 and 2023 financial
Statements and post complaint um since 12202 122020 contracts with institutions And so folks this is what I'm getting at Here what in the ever loving hell are They actually trying to do here are they Going to get away with this And then there is this post uh the post Continues from attorney Bill Morgan he Says Ripple filed a response on January 19th arguing amongst other things that Discovery of the post complaint Institution contracts would lead to a Mini trial of the legality of its postc Contract sales to Institutions these will mostly be Contracts with and sales to odl Customers which I find it hard to Fathom Are investment Contracts on January 23rd the SEC filed Its reply stating there would not be a Mini trial because it was not seeking a Finding on the legality of post Complaint Sales it also said it was not a big deal For ripple to discover the post Complaint contracts because Ripple had Already cataloged and produced all post Complaint sales contracts to June 2023 In the zakov v Ripple case and so to Just to sum it up a little bit here what He's pointing out Is that the SEC is demanding all of this Extra extra information with all all These transactions that occurred after
The date of the complaint and so Ripple's saying okay well this might as Well be its own damn trial then Effectively right and the SEC is Insisting no no I ain't gonna be like That ain't gonna be like that girl are You Serious that's exactly what you're doing Otherwise it's not relevant and wouldn't Even help you and so then they point out Well because there's a separate law so You I'm sure you guys remember the Zach Andov V Ripple case which actually Started before the SEC Ripple case That's when that was filed now I think That's going to ultimately go nowhere But they were also claiming that Ripple Was selling xrp uh illegally because It's an unregistered security and I Think that the lawyers over at the the Zakinov side I think that they were Really hoping that judge Torres would Find that xrp itself as a security Because that would have bolstered their Arguments instead they got a crushing Defeat but they still haven't dropped it Which is amazing because I can't imagine This going well for them cuz there's There's legal precedent now whether it's Binding or not my God it's out there and Anyway attorney Morgan continues and Says Ripple sought and was granted leave To file a sir reply stating the Statement about the cataloging and
Production of Ripple of post complaint Sales in the zakov matter was a Misstatement another lie by the SEC 2 a Court so there you go the sec's lying Again they said to the court Ripple Already did this work everything's Already cataloged all the data were Asked for it's already part of the zakov V Ripple case just give it to us now and Then Ripple's like no that's not what Happened that doesn't so literally the SEC made that up and lied to the court They they asserted that it was true They're literally lying to the judges Still even after crushing defeat after Crushing defeat after crushing defeat And why why are they doing this because They're a bunch of ass hat Pricks it is That simple and then attorney Morgan Says it seems judge Torres needs to rule On the sec's motion to compel quickly as The current remedies phase timetable Requires remedies related to Discovery To be completed by February 12th and so Folks that means we should expect to Hear something from Judge Torres on this Within roughly the next you know call Roughly week and a Half um and then we have this again the Headline from the Crypt basic rle V Deon Speaks on potential settlement remedies And appeal attorney John Deon a pro xrp Lawyer and founder of crypto law has Issued fresh comments regarding the
Ongoing secv Ripple lawsuit in a 22-minute live broadcast yesterday Attorney Deon asserted that there are no Ongoing discussions about a settlement Between the SEC and ripple he made the Assertions based on the sec's recent Motion to compel Ripple to produce its Audited financial statements from 2022 To 2023 and post complaint contracts Governing institutional sales Deon said Quote I don't think there are any talks For a settlement this is still scorched Earth litigation even in the remedy Stage end quote despite stating that the Secc and ripple are not currently Engaged in a settlement discussion Deton Did not rule out the possibility of the Case ending in a settlement according to Deon the settlement can still happen in The future additionally he pointed out That the SEC can still initiate a Settlement if it believes it can get More from Ripple through a settlement Than from what the judge could rule and That's an interesting take there because And and this is one of the things that Attorney Deon was talking about he was He was just noting that uh you know this Could look like just a complete Embarrassment for the SEC I mean Obviously it's already devastating for The SEC because xrp was found to be not A security by judge Torres uh that was The proper ruling of course but it could
Look even worse for them because think About how much money was spent in Ripple Spending $200 million roughly on all This who knows how much the SEC spent uh And all this time was all the you you Know the fall out right and then imagine If there's a small um small Remedy or a Small settlement and so that's why if The REM if they believe the remedy would Be small uh regarding what would happen In court from as a result of what's Happening between the talks between well And uh persuasive arguments given to Judge Torres judge Torres uh and coming To a conclusion here if they're afraid That uh the amount they'd get would be Smaller they might be willing to acqu on Certain points in order to get a Settlement from Ripple if they can get Higher dollar figure and so that's the Calculus there potential anyway but Here's a quote from attorney Deon maybe That will make them the SEC come to the Table because they can spin it versus Getting another ruling that embarrasses Them as an organization I'm not saying a Settlement can't or won't happen I'm Just telling you it's not happening Today end quote Ripple has always Mentioned that it is open to settling With the SEC as long as the regulator Provides Clarity for xrp however the Commission has not shown signs of Agreeing to settle with ripple the
Lawsuit is currently in the remedy stage Oh actually let me say something on that Real quick though Ripple no longer has Quite the same incentive to settle so if It was before judge Torres found that Xrp was not a security in order for Ripple To to have that taken off the tables you Don't have to risk judge Tes coming to a Back conclusion back then uh Ripple Could would have given up all sorts of Stuff huge you know huge monetary L they Would have paid whatever it would have Taken uh if could just get that from the SEC but ripple at this point I don't Think there's that much they're going to Be willing to give because they already Got the massive win that's where the Difference is with at this stage in the Game we're at the remedies portion Son anyway peace continues the lawsuit Is currently in the remedy stage where The court will determine the appropriate Fine Ripple would pay for its Institutional sales Violation it is worth noting that this Violation involves the sale of over $700 Million worth of xrp to institutional Clients with the SEC requesting Ripple's Audited financial statements and post Complaint contracts there are Speculations that the SEC wants to Include other institutional related xrp Sales that took place after the
Complaint was filed on December 22nd 2020 however Deon said the sec's biggest Fear is Ripple showing an exemption to The vast majority of those institutional Sales per Deon Ripple can demonstrate That the majority of its institutional Sales were made to accredited or Sophisticated investors if this happens Deon speculated that the crypto payments Company might be required to pay between $10 million and $100 million as a fund And so folks to be clear he didn't he Didn't say that he was confident he was He was just he was more so trying to Share a concept rather than saying he Thinks for sure or or highly likely it's Going to be between going to be between That 10 million $100 million fine level He he was just trying to get an idea Across that there's 's a chance that it Could be relatively small piece Continues notably Deon asserted that Ripple could pay a significantly lower Amount as a fine compared to what the Company spent as legal fees defending The case as reported earlier Ripple CEO Brad garlinghouse disclosed that the Company has spent $200 million in legal Fees since the lawsuit started quote I Believe the fine will be significantly Less than what they spent in legal fees $200 million the SEC thinks that too and They fear it that that's why they are Going all out and wanting to know all
The other sales and transactions end Quote and trying to find something I Just don't see how it's ultimately going To help them here anyway and then the Piece wraps up by stating commenting on The possibility of the sec's appealing Judge Analisa tor's summary judgment Decision Deon asserted that the second Circuit would not overturn the ruling he Noted that judge torres's decision on Ripple programmatic sales and other Distributions of xrp which he found to Be non-securities were based on the Third factor of the howi test Expectation of profit however if the Second circuit remanded the case Deon Speculated that judge Tores would still Issue a similar ruling based on the Second factor of the hoe test common Invers yeah so what what there're just To make sure that it's Understood when judge Torres ruled on on The hoe test here she looked at one Prong that was it you know expectation Of profit so if this if if there's an Sucessful appeal and then it's thrown Back to her all she has to then do is Rule on another prong of the howi test She left this open for herself she knew What she was doing so if the SEC come And the SEC knows this too so if it's Thrown back to her which is on it's Highly unlikely already but if it Happens you know she's just going to
Come back and be like well there's no Common Enterprise and then they lose Anyway obviously so not that it would Even come to that and then attorney Deon Also did speak in this um in this live Broadcast about what might happen in Terms of xrp price and I'm kind of with Him in what he said because he just he Just is like yeah I mean I don't know What's going to happen that's what he Said effectively he's like is it going To cause the price of xrp to to run well And you know and it's funny because a Few days ago I was talking about this Myself and I was like well I mean it's Possible I'll seed that point but I'm Actually kind of skeptical that it would Run does does anybody care at this point Like given that xrp already has legal Clarity uh if if there's a settlement or Or when the news comes out you know Whatever Ripple's going to have to pay Presumably they're going to have to pay Something in the remedy face here in Either of those scenarios Is are Global xrp markets going to Care In terms of the way they speculate I Just I'll say maybe but I find it Honestly kind of unlikely what do you Guys think like to me it just I just Don't see why they'd care because it Doesn't have a material impact one way Or another on xrp that's why I just want To say no it doesn't make any sense
Unless the Market's going to be Completely um illogical which it can't Be so I mean I guess there's that here But ultimately attorney Deon was like He's like I don't know and see that's my Answer too honestly I don't know I just Have like a for fun guess I lean one way Which is I don't think it's going to Matter in the end and so um that's What's up next for xrp there we just Have to kind of wait and see if there's A settlement and if that has an impact But I'm still skeptical that there would Be any sort of notable impact if if any Detectable impact at all but you guys Can tell me what you think in the Comments section below 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
