Follow me on Twitter: @moonlamboio
SIGN UP FOR A FREE 7 DAY TRIALGET YOUR .CRYPTO DOMAIN AT UNSTOPPABLE DOMAINS
TRADE CRYPTO ON BINANCE HERE "LOW FEES"
DISCLAIMER: I am not a financial adviser. None of what I have communicated verbally or in writing here should be considered financial advice; it is not. Do your own research before investing in any digital asset, and understand that investing in any cryptocurrency is inherently risky. If you do, you need to be prepared to lose your entire investment.
Hello this is Matt on the moon Lambo Channel the SEC smacked across the face Yet again by a judge the SEC today hit With sanctions for abuse wait till you See in fact let me just tell you this at The outset of the video we already know That the SEC is a Despicable government Agency that needs reform from the top Down Kim Jean guinsler should not be in Charge of this thing these people these Attorneys my God they are outright liars And they are happy to ruin people's Lives if it means that they may get a Chance at a win by tricking the judge Right and we know in the secv Ripple Case that the judge called them out the SEC out for being Hypocrites remember That and the most scathing um you know Critique if you want to call it that Against the SEC and the secv Ripple case Was when the judge said that the SEC Quote lacks a faithful allegiance to the Law end Quote that Doesn't normally comments like that Don't normally happen and so I want to Tell you here at the outset of this Video as horrendous and scathing as that Was in the secv Ripple case what Happened here today is like that on Steroids the degree to which the judge Ripped the SEC to shreds basically Outright calling them Liars uh it's just I've never seen anything like that I
Thought it was bad and very blunt in the Secv Ripple case this is like that but On steroids way more direct lot more to It uh just it's everything we know about The disgusting SEC everything we've been Saying about this awful organization the Judge is has obviously found that to be The case 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 Definitely should not buy or sell Anything because of anything I say or Right I'm just an Enthusiast who enjoys Making YouTube videos about crypto Related topics but just as a hobby and Just for fun so I'll get into the Specifics and just a second but first I Thought I'd highlight this from Stuart Alder who of course is Ripple's Chief Legal officer and this evening he wrote Today a federal court sanctioned the SEC For abusing its unique status to present Evidence that was false mischaracterized And or misleading if anyone thinks this Conduct by this agency under this Leadership is limited to this case I Have a bridge in Brooklyn to sell spot On yeah it's definitely not unique to This case this is how this agency Behaves that poster was uh reposted on Social media platform X by John deon's Crypto law organization and crypto law Wrote The Following judge Shelby's
Decision highlights what we all know the SEC acts in bad faith when pursuing Innovative crypto companies and will Stop at nothing to vilify an entire Industry spot on and that's why again When uh when in the secv Ripple case the Judge said that the SEC lacks a faithful Allegiance to the law uh one kid and as We highlighted at the time as a Community this is just what the agency Is they're Despicable so the headline here from Coin Telegraph SEC hit with sanctions For its gross abuse of power in debt box Case and again folks this is the like The most direct forward thing I've seen From a judge destroying the SEC I've Never seen anything like this not to This degree anyway not to this Degree so that part of it you're going To enjoy so sit back maybe you want to Pause here uh maybe pop some popcorn Kick your feet up on the desk you know It's going to be a good time a United States district court has imposed Sanctions on the Securities and Exchange Commission for acting in bad faith which Is a quote bad faith in a lawsuit it Brought against debt box the initially Filed a motion to dismiss without Prejudice but that was denied by judge Robert J Shelby who slammed the Regulator for intentionally lying to the Court about evidence it obtained to
Secure a temporary restraining order R Trro for short and freeze of debt boxes Assets last August so folks last August They literally tried to get a temporary Straining order enacted which would have Just destroyed that box like the degree To which this would have uh financially Ruined them it can't be overstated That's what they were going for without Evidence here and so here's a quote from Judge Shelby from today the commission's Above discussed conduct constitutes a Gross abuse of the power entrusted to it By Congress and substantially undermined The Integrity of these proceedings and The judicial process end quote folks There's oh there's lots more than that That is Scathing that's intense and there's a Lot more just like that which is why I Said it's in line with that tone from The judge in the secv Ripple case but Lots more of it and and even more Intense that's why I said it's like that But on steroids here the quote critical Evidence the SEC offered to obtain quote Lacked any basis in quote which was Nonetheless advanced in quote Deliberately false and misleading ways In quote shall be explained so this is The judge saying that the SEC Deliberately uh conveyed this Information deliberately false and Misleading wayte AKA they
Lied okay this that's known as a lie Absolutely here's another quote um from Shelby the judge the bad faith is Inextricable from the abusive conduct And a sanction of attorney's fees and Costs for all expenses resulting from That conduct is appropriate end Quote and then there's this post from Paul Greywell he is the chief legal Officer at coinbase also engaging in a Lawsuit as you well know with the SEC Right now and he highlighted a key uh a Key um comment from the judge in this Case which reads as follows this is more From the judge the commission's above Discussed conduct constitutes a gross Abuse of the power entrusted to it by Congress and substantially undermine the Integrity of these proceeding ings and The judicial process the operation of The American Judicial System rests on The fundamental proposition that every Party who comes before the court is Bound by and adheres to the same set of Rules end quote Yeah but obviously the Judge sees that's not what the SEC was Doing they tried to get away with it by The way the SEC Almost got away with This as you'll see just let me get Through this in order but the SEC Actually almost got that uh temporary Restraining order Um anyway peace continues in its August Lawsuit the SEC claimed debt box
Perpetrated a $50 million do fraudulent Cryptocurrency scheme amid its Operations as a software mining license Provider in requesting the trro and Asset Freeze the regulator claimed debt box Had already sent $720,000 Overseas and would flee to the United Arab Emirates and secretly transfer more Assets with it if it was notified of the Order the request was initially approved However Shelby later reviewed his Initial order and concluded the SEC Misrepresented evidence in that the $720,000 Transfer in was instead sent within the United States so folks they're stating That this this transfer there was a $720,000 transfer it was an overseas Transaction so you can't trust them Which is why the um the temporary Restraining order and asset freeze was Approved but then after the judge Approved of that looked into it further And like wait a minute this is a Transfer within the United States what Are you talking about SEC and that's When the sord hit the fan basically and The judge is like oh my God I the judge Must have been Furious to be straight up Lied to like This you know because they almost pulled A fast one on the judge I mean for a Brief period they had
Actually here's a post from Attorney James Murphy known as metal law man on Social media platform X and he wrote The Following and provided uh some some Quotes here too he wrote the judge in The debt box case has issued an 80-page Opinion sanctioning the SEC for Egregious misconduct in the case the Opinion opinion is devastating to the SEC as an institution and to the Particular lawyers who committed the Misconduct the judge made it crystal Clear that the SEC lawyers did not make An error they lied in intentionally in An opinion that will surely be cited by Litigant across the country for years to Come the judge found that quote and Here's another quote from the judge the Critical evidence the commission offered To obtain and defend the expart TR Lacked any basis in fact yet the Commission nonetheless Advanced that Evidence in deliberately false and Misleading ways end quote see FKS I Wasn't kidding you like he's just Straight up calling them out as he Should of course it's disgusting what The SEC has done here and you can think Back just to like the beginning of last Year beginning of 2023 Kim Jean ginzler Was bragging on National Television About how they hadn't lost a case and When lawsuits having to do with crypto They won them
All and and here we are now for the last Year it's been loss after loss after Loss after loss they might have gotten One win in a uh I can't I know they they Got some sort of win I can't think of Which one that was now because there's Been so much news breaking or developing Over the last year but it's it's almost Been exclusively Losses and uh and the SEC getting called Out so even in the the cases that that Aren't concluded like the coinbase one Like the SEC got called out there too so See what happens there but I mean there Certainly uh it's not going to hurt Coinbase that this is unfolded this way Because I mean it is what it is there's Going to be more scrutiny here now right At a minimum anyway peace continues in December judge Shelby gave the SEC a Show cause order a type of court order That requires a party to justify explain Or prove something to the court while The SEC accepted its actions weren't Forthcoming the regulator argued a Sanction wasn't appropriate that's right They didn't want to be in trouble from The judge Shelby took aim at at SEC Attorney Michael Welsh for misleading The court and attempting to obus skate He said quote Welsh knew his statement From the trro hearing was incorrect Rather than correcting the m statement He and the commission attempted to
Suddenly shift the language to gloss Over and perpet perpetuate the Misconduct in quote FKS this is way more intense than any Scolding that the SEC got in the secv Ripple case it just is this is way more Harsh way more direct uh really calling Them out here and so it's it's the same Kind as what we saw in the secv Ripple Case it's more so that it's just uh to To a greater degree but in terms of is Is it the same kind of thing yes just Much more of it you'll love to see it You absolutely love to see it like they Just straight up line then when they're Caught they're just trying to gloss over Like they're trying to trick the judge As if the judge is an Idiot Austin Campbell founder of zero Knowledge Consulting said the SEC staff Involved should be terminated and that The agency needs to go undergo a reform Quote SEC lawyers should have personal Liability for such conduct in addition To the agency itself what is described Here is unconscionable for those Entrusted with such Authority by Law end quote and you know the part that Kind of sucks about this though is even Though you like to see the SEC get in Trouble because they're doing disgusting Despicable things and they're getting Called out which makes it less likely They'll get they'll get away with stuff
In the future because like the judges Now know to watch for this obviously It's a Despicable agency the downside to All this is even though we like to see The SEC get in trouble you know the Sanctions are monetary nature which Means it's literally the taxpayer that Will be footing the bill for for these Sanctions as a result of the SEC Engaging an immoral despicable Behavior Behavior it's the taxpayer that gets hit With this ultimately so that's the Downside of This damn It but still like you love to see the SEC get raked over the calls by by a Judge that is that part's fantastic to See 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
