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Hello this is Matt on the moon family Sedan Channel yesterday I published a Video in which I shared news that we may End up seeing a jury trial and Technically that was always on the table In the secv Ripple case but after judge Torres's ruling it's more likely and I Made a video yesterday explaining why so I don't want to really rehash that old Concept but I just want to kind of set The table and make sure everybody Understands that because Um if this happens if indeed there is a Jury trial which is more probable at This point an attorney within the xrp Community whose Attorney Fred rispoli in His opinion he says that Don't expect a conclusion in the secv Ripple case until 2024. I kid you not so Um that would be rather unfortunate I Really hope that doesn't come to pass so You know I I take no Glee in sharing the Bad news but you know what I'm here to Hang out with you during the good times And the bad time so whatever happens uh It's okay so don't beat the messenger But um I'll share with you the specifics Uh comments and then some other I got Some other stuff from attorneys on this Topic but I've got that and then there's A second story I want to share with you As well that I find very fascinating This one comes from decrypt although
Every crypto media Outlet Under the Sun Is covering it but here's the headline Cftc chair says ethereum is a commodity Despite ginsler's Bitcoin only position And so many of you will recall that late Last month Kim jong-ginsler decreed that Everything that's not Bitcoin is a Security and now you have the cftc chair Saying back the F up what are you even Talking about because uh they've been They've been in control of ethereum Specifically So little dispute there I'll break it Down for you but before going further I Do to be clear I do not have a legal or Financial background of any kind I am Not offering legal or financial advice And you definitely should not buy or Sell anything because of anything I say Right I'm just an Enthusiast who enjoys Making YouTube videos about crypto Related topics but just as a hobby and Just for fun and so there's this article From Amy crypto titled Ripple whales Move greater than 100 million xrp as Attorney predicts another sec trial and Part of what's covered in this article Is exactly what I happen to cover Literally yesterday there's a tweet from A former attorney who is a member of the Xrp community named Scott Chamberlain And he had this really thoughtful thread And I shared it's a little snippet of it Which happens to be in part on your
Screen and it reads as follows It seems more likely there will be a Trial because this decision results in Conflicting expert testimony that Muddy's a summary judgment application And I'll also note Attorney John Deaton Retweeted that from Scott Chamberlain And concur he does think that In fact at this point uh Attorney John Dean thinks that perhaps it's even Likely that a jury trial is going to Occur and this this seems to be and so By the way if there's anybody that's Wondering why had and why why haven't Why isn't this been you know discussed More thoroughly by by attorneys within The xrp community well I'll get to that Point as well But um what kicked off this conversation Today Or technically the other day it kicked Off the other day and then just like Five hours ago it got to the point where Attorney Fred raspoli chimed in on this Uh what we kicked it off was a tweet From a Community member named big lemon Who wrote I feel like settlement May Seriously be on the cards right now and Of course that's in response to what we Saw with the uh the couple day old Ruling from Judge Torres which was Definitely pretty heavily in favor of Ripple and not so good for the SEC Because they're expert Witnesses on the
On the most important points that they Needed to make uh that's not even being Allowed in the case judge Torres ain't Having it but uh attorney Bill Morgan Member of the xrp community retweeted That and said it has not been off the Cards since last March and fair enough It's always been a possibility it just To just kind of make you wonder if at This point it might be more likely Because there have been scenarios Discussed in which perhaps you could see Uh judge Torres pushed this whole Process through to a jury trial but uh Could have some sort of ruling having to Do with secondary market sales of xrp Indicating you know the proceeding will Not have anything to do specifically With that in which case you got to kind Of Be Wondering should that occur why Would Ripple not settle because that Because that's Ripple's sticking point If the judge Torres takes that off the Table why wouldn't Ripple settle so so Is another consideration so even if this This is in theory going to jury trial And it's going to start next year which Would be awful I don't want that Even if that's the case if you're Ripple Why wouldn't you write whatever size Check you have to because you already Know that your xrp transactions are in The clear right or at least in theory They would be
Right and so um so then there is a Community member named Kronos who wrote To attorney Morgan and said I hope you Read read my comments if they go to Trial how long do you expect it to last An attorney Morgan responded and said Do you mean how long until the trial Starts or how long it takes to complete Once the trial starts what do you reckon Uh Fred rispoli and he tagged him right There I don't have enough local Knowledge of the Court lists and Scheduling to speculate when a trial Could be heard but I would think it Would go for hold on go for several Weeks after it starts And then this is where Attorney Fred Rispoli jumps in and by the way uh just As a friendly reminder uh Fred rispoli Is in the process of suing coinbase for The xrp community because coinbase has Not handed over uh the Songbird token or Flare tokens it is now March of 2023 and Coinbase has intended it over and they Apparently they have no intention at Least of handing over the Songbird Tokens allegedly they're going to hand Over the flare tokens so uh he's suing Them and I am all for it because what The way that coinbase is treating Their customers within our community is Completely unacceptable as far as I'm Concerned but anyway uh attorney fredrus Foley said I would be very surprised if
Trial could take place before 2024. And it is probably 30 to 40 trial days Which would translate into about two to Two and a half months Okay so At least the trial wouldn't be that Horrendously wrong long rather But if you're talking about it you know Going into 2024 and then waiting two and A half months my gosh so what's that Going to take us into potentially March Of next year And then depending on what happens there Could still be an appeals process after That do you see how long this thing is Just like oh you want to bash your head Against the wall I just want this damn Thing over now I still do think it's More probable that there will be some Sort of path carved out here so that it Doesn't come to that but it is an actual Possibility And then xrp Community member of Brian Monarch uh tagged me and wrote trial Probably won't even start until 2024 With a little eye roll emoji and thank You very much Brian Monarch for Attacking me I do appreciate that and I Share your sentiment as well I saw that As I was like ah no and I appreciate Rispolis you know sharing his Perspective it's not nothing like that It's just like Damage damn it damn it damn it damn it
Damn it damn it damn it damn it damn it So I responded him and I said oh man I Sure hope not for some reason I was Under the impression a jury trial would Start this year but Fred would obviously Know better than me and attorney Bill Morgan responded to me and wrote I Thought this year or at least hoped this Year but didn't have enough local Knowledge of this court slash judges Lists to guess not surprised by his Estimate of the number of trial days Required it was about what I was Thinking and then there was an xrp Community member named Van hasten who Wrote to Bill Morgan and he said my Question is why now so close before Summary judgment You all seem to being vocal on this to Probably go to trial I know it was always an option but why Not prepare prepare the crowd much much Earlier or early to to this not ending At summary judgment what happened that This has now become the most likely Option and you know what that's a Perfectly fair question Um and so it has been discussed by I Think every attorney that I follow in The xrp community on multiple occasions But it hasn't been a heavy Focus Admittedly I do think he's right about That but um I I think he's probably just Missing the big news that occurred a
Couple days ago it's just the reason has To do with judge torres's ruling so I Just responded to him and I said Judge torres's ruling a couple days ago Changed the Dynamics it now looks as Though there is a sufficient amount of Dispute on the facts that a jury may Have to sort it out For example a sec expert witness is Being allowed to argue that The xrp Ledger is not decentralized And so And you know what frankly I think it's a BS argument obviously but they should be Able to argue facts and then have Somebody with you know Tech specialty on The opposing side get to argue why uh The xrp Ledger Um is decentralized you know so I get Why judge Torres did what she did it's Just I mean for us we're sitting here With our eyes glaze over like it's an Obvious lie it is obviously not true I Know we get it we get it But if something's going to be ruled in Terms of summary judgment it it has to Be the case that there's not a dispute In terms of what the facts are it's just About how to apply those facts you know Based on what the law is and so in a Situation like this and that's why I Just shared one example this is a Dispute of actual facts is The xrp Ledger centralized or decentralized
Well that's where jury trial comes in to Sort it all up Um so we'll see might go into 2024 oh I Uh prize that Jesus I I I I I will Practice if if it doesn't make it that Far because oh my God I am just gonna Rip my damn hair out Making videos about SEC lawsuit crap in 2024. I mean I'll do it I'll do it I'm Gonna be here I don't want to do that Though I'd rather be talking about other Stuff on my channel but here's what it Is so anyway here's a headline from the Crypt on to the next topic cftc chair Says ethereum is a commodity despite Ginsler's Bitcoin only position The chairman of the Commodities and Futures Trading commission has taken a Firm Stance against the Security and Exchange commission's subtle power creep Over the digital asset Market Roston Vanum told the Senate agriculture Committee on Wednesday that ethereum the Second largest cryptocurrency next to Bitcoin is a commodity It's been listed on cftc exchanges for Quite some time and for that reason said Badam who argued that it creates a quote Direct jurisdictional hook end quote for The agency to police both eth's Derivatives market and underlying Market His opinion appears to directly Contradict that of SEC chairman Gary Ginsler who argued last month that
Everything other than Bitcoin falls Under Securities laws While not naming any names the chairman Has hinted many times that this would Include ethereum especially after the Network transitioned to a proof-of-stake Consensus mechanism So it is nice to see the little pushback From another entity even if it's animal Because I mean I'm actually Pro eth not That I'm excited about it particularly But it's a major part of the Cryptocurrency ecosystem I've been Holding it since November of 2017. it's The first cryptocurrency I ever Purchased in fact and I haven't So I I you know I'd like for that to not Fail so it's good to see some pushback Against the uh against the SEC in that Sense but it's been so crystal clear That uh ether is going to be under Attack for some time it in fact it never Wasn't more obvious than September 15th Of last year uh when ethereum here's a Headline from decrypt ethereum uh switch From proof of work to proof of stake Look at this headline ethereum Successfully executes highly anticipated Merge event ushering in proof of stake Era so you go switch from proof of work To proof of stake big deal Here's an article also from the Crypt Headline from the same day September 5th 2022. ginzer says proof of stake assets
Could be Securities report oh okay so it Just happens to be a little little baby Coincidence that uh on the day that Ethereum finally after years and it was Years and they're making literally Ethereum switches to proven stake just Happens to be on that date that Kim Jong-ins or he doesn't say ethereum he Doesn't say ethereum but he says that Proof of stake assets could be secured It just happens to be on the same day Right bitco Winky Dink right me thinks Not that son of a I'm not a Financial advisor 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 Family sedan