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Hello this is Matt on the moon Lambo Channel here's a headline from the Crypt Basic legal expert claims SEC wants Ripple to dump $2 billion in xrp and Further suppress xrp price now this Article is covering perspective from None other than attorney Jeremy Hogan And it is funny that for a for a Government agency which is uh is is Allegedly protecting the little guy out There my God it seems like every single Thing that they do is results in the Opposite of protection if if this is Protection I I just I would like to be Unprotected please can I can I do that Can I just be unprotected that would Just be fantastic uh also uh some of you May have seen my colorful language Surrounding this on uh on social media Platform X but one of my tweets was Actually included as an exhibit uh by The SEC and their most recent legal Filing along with a ton of other tweets From all sorts of XR P holders I kid you Not there's also this headline from CNBC SEC scores big win in lawsuit against Crypto exchange coinbase uh sort of uh I Mean the motion to dismiss that was Thrown out so I guess you can go ahead And word it like that but uh the case Hasn't even started yet so as far as you Know who's going to be victorious I Think that this is another instance of Uh we're on the right side side of
History history's going to history's Going to show that but we got to let Time pass to get there 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 All right I'm just an Enthusiast who Enjoy is making YouTube videos about Crypto related topics but just as a Hobby and just for fun all right so into This first piece with the SEC seeking a $2 billion penalty against Ripple Attorney Jeremy Hogan says the demand Would require Ripple to sell lots of xrp And further suppress the coins price now I'll just assume that the vast majority If not all of you have already heard the News that broke a few days ago that the Secc is seeking close to $2 billion in Penalties and right after this news Broke within the first couple hours or So I was able to record a video and I Noted this is the SEC as far as I'm Concerned effectively trying to bankrupt Ripple and put him out of business That's pretty much it now of course it's A good point what attorney Hogan has to Say here we'll get to the specifics in Just a second here but it is true that There is one way Ripple can acquire some Uh acquire some funds I don't think it's Good for the exer beholders that the SEC
Is allegedly prot attempting to protect Though anyway peace continues several Legal experts have commented on the Sec's recently filed opening remedies Brief and the ongoing Ripple lawsuit Attorney Jeremy Hogan is the latest to Comment on the development ushering in a New twist Hogan's emphasis was on the Sec's plea for final judgment in which The regulatory agency asked the court to Impose a $2 billion fine against Ripple For violating Federal Securities Law Through its institutional sales now Folks in my last video where I was Talking about this a few days ago um I I Highlighted perspective from a number of Legal minds and it became very clear Very fast that this is outside of any Sort of legal precedent like these types Of Damages in a non-f fraud case are you Kidding me Absolutely not this is not normal this Is the SEC being Vindictive that's it and they're just Going to see what they can get away with But like I said in that video at the Time I was like I don't see how if You're judge Tores you're looking at This and you take this seriously I don't See how that happens so I I do I I am Not optimistic that the SEC is going to Get what they want here but wow it Highlights just how disgusting this Agency is doesn't it anyway peace
Continues reacting to the outrageous Demand attorney Hogan criticized the Sec's ineffective legal strategy against Ripple and highlighted concerns about Its implications for xrp holders Hogan Explained how the sec's demand of $2 Billion would hurt the same retail Investors the commission claims to Protect according to Hogan should the Court be granted the SE should the court Grant rather the sec's pleading for Summary judgment Ripple would be Required to sell lots of xrp from its Holdings Hogan noted that the action Would cause the price of xrp to plunge Heavily thereby hurting retail investors Yeah so um the vast majority of Ripple's Xrp is in escrow but uh some big escrow Escros are released every single month As you well know it's a 1 billion xrp in Fact So in theory inside of a couple Months you know Ripple based on the Current price of xrp Ripple could sell Uh Ripple could sell xrp and then just Have the funds but it would take longer Than that because if they do this if You're talking about dropping literally A billion in that short of a time period And then doing it again in the Subsequent month plus the Panic that Would ensue yeah uh it would take you a While to get that two billion if you Even could you would devastate the Markets on a global scale at least for a
Short period of time now the of course Ripple's not going to do this I don't Think it's going to come to this but That's what the SEC actually wants this Is disgusting this is absolutely Disgusting and Repulsive so here is what attorney Hogan Actually wrote verbatim how backward has The SEC got this it wants $2 billion From Ripple which would require Ripple To sell a lot of xrp causing the price To drop hurting the retail holder you it Would then disgorge that money back to Rich institutional holders feel Protected yet um no attorney Hogan I do Not feel protected yet I certainly it's A great question I do I would like to Ask I do not feel protected yet but Isn't it funny that's how it works to Screw the little guy again just regular People like you and me uh because market Price go down and of course uh we're Currently in a bull market here so that Wouldn't be Fantastic um again I don't think this is Going to happen I just I don't think we Should be afraid of this I don't I Barely take this seriously I'm just Reporting it because it's in the news And it's that Stupid um but but yeah isn't that Something because we're talking on the Institutional side that's where the Damages are right that that's what judge
Tores found that that's where the uh Where the illegal Behavior occurred so Whatever funds are collected they don't Go to you they go to the institutions Who were allegedly harmed here Right what a joke and then there just They page page after page after page of Exhibits here and so my post is on the Screen here so there there was a post From Brad Garland housee on July 19th Last year so six days after xrp was Declared to not be a security and Brad Garin house wrote The Following it's Been less than a week since the decision Dropped and I'm still overwhelmed with Gratitude and hugely proud of this team An unequivocal win for ripple and for Crypto in the United States that's the Bottom line and so there were tons of Posts there's a bunch I'm kind of Scrolling you can see what I'm talking About here just post after post tons of Traction within our community and for Good reason and I remember that post From and I was happy to see that he Shared that Post um and so tons of people responded Including me and I just scrolled past my Here it is so here's what I wrote on July 19th and I think that the reason That this is highlighted is because the SEC apparently is still hoping to paint This picture that we're all beholden on Ripple well uh not for xrp itself or for
Xrp to gain in value but to protect us From the SEC damaging the value and and Adoption of xrp yes to protect us from The SEC I'm not counting on Ripple to Increase the price of xrp and and of Itself in a competitive landscape out There in the world of crypto hell no you Know not any well at least to be clear I Can flush that a little bit more and I've talked about it so many times over The years uh I don't expect them to do Any more than you know be a good Participant in a healthy xrp ecosystem So yes since they're a member of the Ecosystem in that capacity sure but it's Not like it's all up to Ripple as to Whether or not xrp succeeds it's about Multiple participants in an ecosystem Doing stuff and so I wrote to Brad and I Said thank you Brad and team for Fighting this incredible fight you've Literally protected Untold millions of Humans I have so much gratitude and I Still feel that way today folks uh so I Had some Choice words that I shared on X Which I'll not be repeating here because You Know I uh I don't know if YouTube would Like that so much so um yeah I don't uh I I don't I don't think I'll be Repeating that but uh suffice it to say I didn't have so such kind words uh for The the SEC but I'll tell you what this Is not something that I had on my 2024
Bingo card being having a post of mine As an exhibit in an SEC Brief what a weird what life's weird man I I don't Know then there's this from CNBC SEC Scores big win in lawsuit against crypto Exchange coinbase the Securities and Exchange Commission scored a major win In its lawsuit against coinbase on Wednesday as a judge ruled that its Claim that the cryptocurrency exchange Engaged in unregistered sales of Securities could be heard by a jury at Trial coinbase shares fell around 2.5% On news of the ruling in Manhattan Federal court rejecting its bid to Dismiss the sec's complaint the Regulator first filed suit against Coinbase in June alleging the company Was acting as an unregistered broker and Exchange the agency also demanded the Company permanently restrained and Enjoined from continuing to do so in her Ruling Wednesday US District Judge Katherine pul Fus wrote quote the crypto Noen nomenclature may be of recent Vintage but the the challenged Transactions fall comfortably within the Framework that courts have used to Identify Securities for nearly 80 years The court finds that the SEC adequately Alleges that coinbase through its Staking program engaged in the Unregistered offer and sale of
Securities end quote uh F wrote the Judge elsewhere in that ruling agreed to Dismiss the sec's claim in the lawsuit That coinbase acted as an unregistered Broker by making its wallet application Available to customers the company Responded to cnbc's request for comment With a link to a series of posts on Social media platform X by coinbase's Chief legal officer Paul greywall quote We were prepared for this and we look Forward to uncovering more about the Sec's internal views and discussions on Crypto regulation in quote grey wal Wrote the SEC later Wednesday filed a Notice of filers decisions in the Coinbase case on the docket of a lawsuit It has pending in federal court in the District of Columbia against binance Another major cryptocurrency exchange The SEC in that suit accuses binance of Making multiple unregistered sales and Offers and sales of crypto assets gears Okay so to be clear here when uh the the Judges stating they that the SEC Adequately alleged this this is not the Judge saying The the the claims are true and valid That's not they're saying the way in Which it was asserted so from regarding What the legal threshold is to to um Because mind you again the coinbase was Seeking to have the whole case dismissed And so the judge is basically just
Saying here well no in terms of the Claims that are made and again it's not About uh you know the validity of the Claims it's about were they properly Alleged that's it that's what the judge Was saying yes it was properly alleged Doesn't mean it's true I don't think That the judge is going to fall for this Stuff she's already giving all sorts of Hints that uh yeah not going to be not Going to be falling for this uh I mean She just just been absolutely scathing Stuff and all the pre- pre-trial stuff Um you know from this judge already I Just I don't imagine that when this is All said and done we're going to look Back and be like wow SEC really knocked That one out of the park no I don't Think that's what's most probable here So we'll keep watching this but it's Just the SEC continuing to harm those People those those citizens in the United States that they are actually Sworn to protect they're just not going To do that though I am not a financial Adviser you should not bu 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
