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Hello this is Matt on the moon Lambo Channel in this latest Moon Lambo Hot Jam I'm going to share with you Perspective from attorney Jeremy Hogan Who made a return to YouTube although Not on his own channel he was actually On uh John deon's crypto law Channel and He uh he published well it was live Streaming but it was like a roughly a 17 Minute video I want to share with you Some key takeaways from this thing and It was good to see him back you know I I I I wish as do the rest of you that uh You know he continue to run the channel But I understand I understand it's a It's a big commitment but uh he is Seeing this thing through to the end and He has some interesting takes on exactly What is most likely in his mind to occur And how much Ripple's ultimately likely To pay in the uh the remedies portion of This fa phase as a penalty but uh 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 definitely should not buy or Sell anything because of anything I say Right just an Enthusiast who enjoy is Making YouTube videos about crypto Related topics but just as a hobby and Just for fun all right and so in case You missed the news yesterday uh here's A headline this one's From the Block uh Ripple files opposition to sec's
Proposed $2 billion in fines calling it Evidence of its ongoing Intimidation and so you'll recall that The SEC being the assat Pricks that they Are and completely unreasonable uh they They told judge Tores with a straight Face judge here's what would be Reasonable and fair2 Billion in disgorgement and and and Other penalties two billion doar Technically I think it might have been Like 1.95 billion but we're splitting Hairs at this point right uh I just I Can I cannot I I can't imagine judge Torres seeing that that's the actual Perspective from the assat prick Attorneys at the and I I can't imagine Her seeing that and then not laughing Hysterically because it's just absurd on Its face Considering that there was no uh they Weren't found guilty of no one was found Guilty of any sort of recklessness or Fraud uh you know the SEC can't even Point to um you know actual Ripple Customers even on the institutional side They can't even find Ripple customers That were financially harmed so that's a Whole thing and I kind of ran through That in the video so I don't want to Rehash everything I already covered in a Video uh yesterday but I just want to Make sure that you at least have like a A Bas layer understanding of of what had
Happened in case you missed the news and Plus it's good as a fresher anyway um But then there's also this headline from Uh this one from the Crypt basic Ripple Chief legal officer Knox SEC labels its Proposed $2 billion doll fine in xrp Case evidence of intimidation and so I'm Not going to read the article just for The sake of timeing again I covered this Fairly thoroughly in a video already uh But here was the quote from steuart Aldate I do want to share this with you Our opposition to the sec's request for Two billion dollars 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 so I I do Have a lot of optimism for that I think That judge Torres will continue to be Fair and that doesn't mean that I agree With her on everything that she has or Ruled on but I believe that she is Actually I mean she's like she she's Doing like look at look at what her Actual job description is I I think it's Fair to state that even if we're not Going to agree with her on literally
Everything she's doing that she's Operating in good faith unlike the assat Pricks at the at the SEC uh here's another headline this one Was from you today Ripple CEO speaks out Addresses major lawsuit filing I'm not Going to read the article there but I Will share with you the actual post from X which they referencing brag ghous Wrote The Following feels app propo that We file our response on the same day That two SEC lawyers resign and quotes For their misconduct in the debt box Case the US will be picking up the Pieces of the agency's disastrous Policies long after guinsler is gone and That's the truth and it is kind of funny The timing of this thing and I mentioned The video yesterday but uh two SEC Attorneys because their misconduct they Are forced to resign which sounds Strikingly similar to getting fired uh But it was egregious what they did in Trying to uh get a judge to actually Freeze the accounts of of debt box and Just and when there was lit they Literally lied and so I don't want to Get off into tangent on that I've Covered that thoroughly in the past but It is what it is and so attorney Jeremy Hogan jumped in and um he uh it was kind Of interesting so I'll tell you this so As far as the um the SEC you know coming out with that
Basically $2 billion Um penalty you know again that would be Discouragement and then additional Penalties uh I think that's laughable And um although I think that attorney Hogan is I mean well he's the lawyer I'm Not a lawyer I just I just play one on YouTube right um I was a little Surprised that he wasn't more critical Uh of the SEC uh going for2 billion and and it's Just CED why I mean he even steuart Alard he said hey it's basically an Intimidation tactic you know um but he Said that he could understand why the SEC would go for a number like two Billion understanding that they're they Don't think they're actually going to Get anything like it so I understand What attorney Hogan was saying he's like He's basically like a negotiating tactic But so I'd agree with him on that it's Just why the2 billion figure when there Aren't any even any hard C like I just I Don't I don't I don't know why we Shouldn't assume that judge Torres is Rolling her eyes and either laughing or Furious at the SEC or maybe both for Because it's so outlandish it's Unprecedented like it just it doesn't it Doesn't make sense um so he he do expect That the uh sec would get anything even Close to that and um he went on to talk About the gville case which I mentioned
In the video yesterday so I don't want To rehash too much of that but um he Noted that like that case coming out That that being determined towards the End of 2023 I think it was the end of October of memory service that case um Which had nothing to do with crypto um It just basically stated that as as Since it is the case that there aren't Actual customers this is the relevant Part uh since there aren't actual Customers that um that were financially Harmed there can't be discouragement and That that's that's what the outcome was In that gille case well the timing is Incredible here because that that's That's that's precedent and that's That's one thing that I didn't realize When I was recording the video yesterday I didn't know if it was B precedent or Not and it's binding precedent so it Would be precedent either way Technically because you know judges can Look at what other judges are doing so In that s Sure precedent but it's Binding in this particular case that's Powerful and so it came down at the Perfect time I mean it just happened Literally months ago and that's why Ripple was citing this in in the what They wrote to the judge and so um xrp Drops here did a pretty good job Highlighting some of the most important Stuff here xrp Community member xrp
Drops on social media platforms from X And um and so attorney Hogan's best Guess as to what the penalty will Ultimately be um now and mind you rip Ripples themselves saying that it should Be no more than a $10 million penalty And no discouragement because none of Their customers are harmed so no more Than A10 $10 million penalty and they Articulated why said was based on their Actual revenues which were redacted in The document so we don't know what Ripple's revenues are but they cited That figure it would be that that's what Would be proportional basically so big Big discrepancy between the sec's push For 2 billion versus Ripple's $10 Million and and so attorney Hogan thinks That what is likely to happen his best Guess anyway was that judge Torres is Going to uh apply a penalty to Ripple of $100 million that would be 10 times what Uh Ripple is saying would be Proportional and reasonable but also far Less than two billion right far less Than two bill It um and then there was a discussion as Far as what this would mean for ripples On demand liquidity you know utilizing Xrp as a bridge currency in corridors That touch the United States and so we Did find out as a result of this that Xrp is not being used in on demand Liquidity in corridors uh that touch the
United States so on demand liquidity is Being used xrp is not that's because of This now in other geographic regions yes Xrp is today being used as a bridge Currency but but uh then there's this Question of okay if there's going to be Some sort of injunction against Ripple Because that's what part of what Ripple What the sec's pushing for here uh what Does that mean for on demand liquidity Because Ripple would like to be able to Use xrp so we'll see how that shakes out I don't have an answer for it we're just Going to have to find out um how that Goes and attorney Hogan wasn't um quite Sure how that might shake out but the Good news is even if it doesn't go well There's still a Solution use a different coin and um I Think they're just using a stable might Just be I don't know if it's tether or What but uh it could be a supplementary Reason that they also want to launch Their own stable Coin uh and then another bullet point Here from xrp drops the SEC can't prove Any harm to the investors are to the Purchasers which is what I cited also Wrote the final judgment will come out This summer and he was guessing July Maybe August so this thing's going to be Wrapped up uh pretty pretty quickly you Know we're in a matter of months uh from Now and it's ice said it's going to be
Wrapping up in the uh you know we're in The midst of a bull market here now i' I've said my piece on this I don't I'm Not confident that this thing wrapping Up even if it looks good for ripple I'm Not so sure it's going to do much of Anything uh for the price of xrp maybe It does maybe my suspicion is incorrect Uh but I want to find out while we're in The bull market because that would be Incred if it actually does start running Because a lot of people out there I'm Sure some of you listening even think That it probably will result in xrp Responding favorably and maybe you're Right maybe I'm wrong but I want to see That and I just love that this is Actually happen happening during the Bull market so that part's fantastic Because the the best news with you know Xrp getting legal Clarity in last July That we weren't in full-blown uh bull Bull territory at that point in fact we Were at a point where Bitcoin was Trending to the downside for months Actually and the whole Market just Followed so is what it Is um and then noted here that both Sides uh can file notice of appeal and The case heads up to the DCA Appeals Court and is ruled on next year so if There are appeals then in theory the True real final ending could occur in 2025 and I wouldn't be surprised if it
Does drag out that far but the good news Is for us as xrp holders we got our Legal Clarity son so we don't have to Worry about that stuff so that's the Latest let me know what you think in the Comments section below is ex seriously Let me know do you think xrp is going to Go like say say whatever news it is However this is wrapped up and the Market perceives it as favor able for Ripple is that actually going to cause The price of xrp to rock it Up I'm just not convinced I mean it it Certainly wouldn't be rational because That has nothing to do with xrp Specifically but who sometimes people do Stupid stuff so you guys tell me what You think but I'll stop ya 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
