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Hello this is Matt on the moon Lambo Channel there was a 5our hearing that Took place regarding the SEC and Coinbase legal tussle um and this was on Whether or not ultimately the entire Lawsuit might get thrown out and it is Possible I don't know for sure if it's Going to happen but I'm going to share With you perspective from a number of Attorneys in this latest Moon Lambo Hot Jam uh including a perspective from Attorney Jeremy Hogan I'll share with You what his latest legal prediction is Regarding this particular case here but I I I will say this uh and spoiler alert Uh the SEC is just absolutely shooting Themselves in the foot and the judge Today it was delightful to see the judge Just ain't having this that's what it Looks like I mean it's just it's so Funny again and again you know you you You f rather rewind a year ago and you Would see Kim Jeong ginzler regularly Bragging uh when he was speaking on National Television uh well look at the Sec's record it's perfect for a reason Uh all the the regulations are actually Very clear and so of course when we go And Sue XYZ entity of course we're going To win that was a year ago you don't Hear I'm saying that anymore do you Because in terms of the Fallout over the Last year in particular it's been a Complete disaster for the SEC from the
Grayscale lawsuit to the uh secv Ripple Lawsuit uh even even um you know the way Things were articulated last year uh in The secv coinbase lawsuit which is what We're going to be delving into here it's Just been a complete disaster judges Across the board are not falling for This nonsense from the SEC it's a true Delight and frankly I I think that what Happened in the secv Ripple case kind of Set the toone 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 or Right I'm just an Enthusiast who enjoys Is making YouTube videos about crypto Related topics but just as a hobby and Just for fun all right so here's the Headline from coin Telegraph coinbase Argues stocks terraform labs and Howie In 5-hour SEC Faceoff United States District Judge Katherine pulk Fila has Heard arguments from the Securities and Exchange Commission and coinbase on the Crypto exchange's motion for dismissal Of a lawsuit filed by the regulator in June 2022 and so folks again I admit I Don't know what's most likely here I'm Not an attorney I just play one on YouTube um but it's it is I've gathered After seeing enough perspectives from All sorts of attorneys the world of
Crypto it is within the realm of Possibility that the judge judge FY here Could actually just throw this whole Thing out that would be a massive win For coinbase and uh and so I I Understand that maybe it won't get Thrown out but it's still going to Ultimately be a disaster um even if not Entirely across the board but on the Whole I still believe it will be a Disaster for coinbase because they're Consistently on the wrong side of the Law and history anyway peace continues The hearing was held for nearly 5 hours And provided an extensive overview of The key arguments in courts regarding The crypto space assets and the sec's Role in regulating the industry during The hearing judge Fila critically Examined the regulator's case against The crypto exchange asking the secc Attorneys to explain why a digital token Issuance would meet the hoe test arguing The case was too broad in the sec's view Buyers of tokens are also investing in The network or ecosystem behind it Indicating there is a value proposition Behind a token purchase coinbase's Attorneys however challenged the Argument claiming that Bitcoin described As a commodity by an SEC attorney during The hearing is also backed by a Community and has a network judge Fila Delved into the definition of staking
And secondary Market transactions as Well as recent court rulings involving Crypto firms such as the Ripple and Terraform Labs case and so check this Out I'm going to share with you Perspective I'll start here with this uh This is a comment from Attorney John Deon um he shared a perspective from uh Attorney James Murphy also known as Metal law man on social media platform X And I'm going to share with you what Attorney Murphy had to say in just a Second but first i'm noting that Attorney Deon shared what shared what Attorney Murphy had to say and wrote The Following perfect summary judge Fila is Taking this very serious and knows the Briefs inside and out including all Amicus briefs she is not rubber stamping This motion to dismiss with a denial as Many judges would she is genuinely Concerned with the scope of the sec's Theory and just how sweeping of a theory It is as I said this isn't a garden Variety motion to dismiss that can Easily be Predicted um and and here's what Attorney Murphy had to say Specifically um secv coinbase update 4 uh in an unusual move the judge Dispensed with any prepared arguments From either side and instead went Straight to questioning the lawyers the First two hours was spent exclusively
Questioning of the SEC lawyers the SEC Lawyers were better prepared than they Were at the initial premotion conference Several months ago the questioning Started with staking then went to how Hoe applies to crypto and finished with The major questions doctr The judge is super sharp on these issues And asked very precise questions she had Prepared in advance the judge said she Had not decided anything had an open Mind on these issues the judge Repeatedly referenced the amicus briefs Filed in support of coinbase she said She found particularly significant that Senator Lumis has filed a brief saying That Congress needs to decide the issues In this case including how crypto assets Will be classified and which agency will Ultimately have authority to regulate in This area coinbase's lawyers are now up For questioning from the judge I would Expect a couple more hours at least and So um I'll say this and I do believe the Judge is genuinely open-minded but I Also believe that she's not really Putting up with this nonsense crap uh From the SEC uh that the SEC attorney Assad attorney thought that they could Actually get away with uh as as you'll See in a second here um I think it's in This might be this one I got a bunch of Of quotes cuz people were um live Tweeting this stuff basically uh because
This was another one of those situations Kind of like had the secb Ripple case Where you you could actually call in to Listen to the hearing if you wanted to And so there were a bunch of individuals Sharing what was happening in real time Um here was a post from a fox business Journalist elanar terret and she wrote The Following on X I'm not going to live Tweet the entire SEC coinbase hearing But judge Fila is on fire right out of The gate she says the SEC lead lawyer And I paraphrase the defi people gave a Quote really fine in quote Amicus brief Explaining what staking is and what the Wallet is used for arguably better That's a quote arguably better than how The commission explained it in its Briefing so right there at the gate They're saying the Amicus brief people On defi did a better job than the SEC to The sec's faces yes I love this and then Uh to wrap up her POI writes she also Says the SEC hasn't presented an Opposing narrative for the legal Foundations of Howie in its briefing Yeah and we already know that uh you the Arguments that the SEC has made up to His point in a variety of cases Regarding Howe tend to not go over very Well we just saw what happen in secv Ripple not so great for the SEC so let's See how it happens how things unfold Here right well maybe we won't have to
Maybe this whole damn thing just gets Thrown out and we'll probably know that Within the next couple weeks or so uh Then there was this post also from Fox Business journalist elanar turret Another exchange SEC lawyer quote these 12 are 13 tokens are computer code end Quote so folks think about This because again the SEC has attacked Multiple coins in this lawsuit and you Can see what the strategy is it's a Choke point the exchanges are a choke Point and since you can't you don't have The resources to literally attack the Teams of over 20,000 coins that are are In existence so what you do is you say Hey here here are the coins traded on This platform that are problematic for Whatever the BS reasons the Assad Attorneys come up with and and so again The SEC lawyer said literally it's just Computer code admitted it right there Quote these 12 or 13 tokens are computer Code so F judge F was like whoa whoa Just interrupts and she said sorry but Isn't that kind of what your friends at The back table referring to coinbase are Saying and wondering what we're doing Here endend quote exactly if it's just Computer code and those aren't Securities what in the ever loving hell Are we doing here and so folks that's Why I'm saying even though I'm not going To make pred prediction as to whether or
Not this thing gets thrown out it could Even the judges saying uh that's that's What they're saying so what are we doing Here why why why is this proceeding Exactly um then the SEC lawyer said Quote yes your honor and I have a point And I'll get to it end quote note SEC Lawyer cites judge roff's ruling in the Tera case that the ecosystem surrounding To token is what makes it a security Judge F also just referenced Bill Hinman In connection with the position that a Token in and of itself is not a security Quote wasn't it Mr Henman who said that Someone from your shop that's no longer There end quot why yes indeed yes indeed Uh here's one more post from elanar Turret judge filet is asking coinbase's Lawyer to break down the terraform Decision from Judge raikov and the Ripple decision from Judge Torres with Regards to investment contracts on the Primary and secondary markets and if There's anything she should be looking For in those decisions that will help Her better understand coinbase's Argument overarching response was that While both cases are very different Particularly terraform labs raikov and Teras Torres rather ultimately ruled That there has to be an actual Underlying contract agreement present Between two parties to constitute a Security yeah and so the SEC Ripple case
Is of foundational importance to to Everything that would follow it in the World of crypto in terms of lawsuit Activity absolutely that that win the Fact that we got that W uh is it's it's Hard to overstate the degree to which That's substantial and certainly most Obviously for all of us xrp holders but For the entire space and because I said Many times throughout the course of that Lawsuit I was like look yeah xrp is my Favorite you cryptocurrency for a ton of Reasons I'm bu and it's my largest Individual holding but if things don't Go well here I'm worried about what Happens to the rest of my Holdings Because I have about 30 different Cryptocurrencies so for me it wasn't Just about xrp even though that was you Know you know front and center of course I worried about everything else that They're going to try and take for me in Terms of my opportunity for Life-changing wealth in the world of Crypto um and then you have this from Attorney Jeremy Hogan and he shared this Picture of Judge Pho I don't know how Judge Fila will rule on coinbase's Motion to dismiss no one does but I am So happy that she really has a good Understanding of the technology and the Legal Issues that gives coinbase a fair shake And at the end of the day that is all
You can ask for but just for fun my Guess is that she's going to trim out Some issues from the lawsuit I.E the Staking allegations which always seemed Farfetched to me and leave the other Issues to move forward into Discovery a Partial victory for coinbase and so There you go he see seem I think it's Most probable that um the case moves Forward but maybe not all of it actually Makes it a trial like perhaps the Staking portion here because it's so Obviously stupid and then he noted in a Separate post that we'll probably find Out within the next couple weeks uh if If there's going to be an actual Dismissal Sone and so forth so we should Know sooner than later anyway I would Love for this whole damn thing to just Get thrown out but we'll see what Happens then there's this post from my Fellow xrp YouTuber ml he wrote the Judge can't even wrap her head around What the SEC is saying the SEC is on a Sinking ship which I think is fair Enough that that that kind of sounds Spot on now that was reposted by Attorney Bill Morgan and attorney Morgan Said the judge is probably wondering why The SEC lawyers can concede in her court That tokens themselves are not Securities while the SEC chairman can go Around continually saying most tokens Are securities the SEC itself has no
Clarity okay and I thought that was such A a Salient point you have Kim Jean Giner saying that the tokens themselves Are securities he's spouting that on National Television all over the damn Place with a stupid face hole and then You have these Assad attorneys in court Saying yeah no it's just computer code Oh my god oh is it is infer it is just Infuriating uh then there is also this Post from attorney Bill Morgan one thing Is clear it is now Common Ground the Tokens themselves are not Securities After the secv Ripple summary judgment It was said that judge torus finding That xrp itself is not a security is Only obiter but it seems it has already Had a far-reaching effect including on The sec's position the crypto world owes A debt to the efforts of Ripple the Ripple legal team and John Deon for Their efforts in the secb Ripple gase Yep that's true would the secb saying Exactly what they're saying in this case If they hadn't had that crushing loss in The Ripple Lawsuit questionable and so like John Deon in the 75,000 xrp holders he Represented I Mean like it it is not too much to say That that it's just it's world changing Quite literally as it pertains to the The crypto asset class it AB it's I Don't know how to put into sufficient
Words the degree to which the secv Ripple case is a big deal is the largest Most important consequential non-f fraud Case brought forth in decades you know It it's it really was that big And it's just completely unprecedented Literally literally xrp holders asking Uh to be included as defendants asking To be sued so they could argue against Those assap Pricks at the SEC Literally it's just Aston like this has Never happened before 75,000 people Screaming no SEC you're Wrong that is incredible and so yes it Has had an impact here and it is for the Better impacting the secv coinbase case And we'll see how this shakes out but uh I' I'd say on the whole not going to go So well for the SEC they are terrible Monsters over there they are on the Wrong side of History I'm not a financial adviser you Should not buy yourself anything because Of anything I say or right that would be A very very very bad idea until next Time to the Moon Lambo
