Ripple CEO On SEC Settlement/Judgement & XRP Dominates Australia

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Ignition sequence starts six five four Three two one zero liftoff we have a Liftoff Hey everybody this is the digital asset Investor and Ray dalio the billionaire From Bridgewater and Associates Has spoken up this is from gold Telegraph we are now going to have the Major powers and their allies form Economic currency and Military blocks Dollar denominated Global Order is Fading away that's Ray dalio now Um my sponsor Glenn just redesigned Their website and they did a new video I Wanted to show you this this is awesome If you really want to understand how Cool this glint Um this glint company is watch Here are what we're calling our five Golden truths number one with glint our Clients Digitally even at the checkout giving Instant access to Gold liquidity 2. Glenn's clients own their gold unlike Many of our competitors our clients goal To specifically allocate it to them Secure in a Brinks fault in Switzerland And insured by Lloyds of London three All glints transactions are super safe And super fast when a client spends Their gold using their glint MasterCard Their physical gold is sold and their Transaction is satisfied in the local Currency of the vendor within a maximum

Of one quarter of a second four in the U.S your glint account allows you to Save and spend in both gold and US Dollars we have now introduced glint it Our in-app P2P functionality that Enables our clients to instantly send And receive US Dollars between glint Accounts perfect for gifting splitting Bills or making payments also when U.S Citizens spend gold in any state in the US there is zero charge on the Transactions and five glint FX is up to Six times cheaper than the banks so when Traveling abroad glint account holders Need only take one card with them no More exchanging US dollars for local Currencies at the bureau de challenge It's remember that discussion in the Past I've had about bail-ins and how the Banks across the world have written into Their policies bail-ins in the next Financial crisis well the Glenn account Is not a bank account it's separate and That is a big deal this video is Important for you to see all of it this Is Brad garlinghouse in Davos and it is Great If I can get it to play it's great hold On one sec we're going to hit the old Refresh button Indicative of to some degree a crypto Winter that I as you just suggested has Changed in tone from how the last Davos In terms of just there was a lot of hype

A lot of noise around all things crypto At the last Davos and I think seeing the Change and I actually think it's a Really healthy change there's more focus On utility are these Technologies Solving real problems and I think to Your your question you know I think to The extent there are companies solving Real problems for real customers and They're going to continue to grow Regardless of the environment is their Continued contagion I think you know Obviously continue to hear noise about What's going on with dcg and Gemini uh Hard to know it sounds like that that Could work out in a constructive way I Think all of this has not been great for Crypto at large but again if you just Focus on companies that are solving real Problems certainly Ripple had a record 2022 we'd rather see crypto do well at Large but we had a great year signed up More and more customers more more volume Going through our payment rails and in Terms of your outlet for 2023 we sent a Bit of a bump for Bitcoin in the crypto Markets you're expecting that to Continue as it's just a just a little Bit of full soap well I've tried to stay Out of the short-term price prediction On all things Bitcoin if I uh or crypto In general I'm I'm long term very Bullish because I think these are Technologies that can solve real

Problems at scale and I think when you Have kind of new emerging Technologies Not just similar to frankly the the Internet and kind of the.com bubble Sometimes the hype gets ahead of the Reality that comes into balance over Time but we shouldn't forget you know Really not that long ago 21 years ago Amazon during the.com bubble almost went Out of business you know so the fact That you're seeing some changes in the Crypto world I think is can be healthy For the long-term health of the of the Industry and yet FDX appears to be a Very high profile case of fraud they're Serious Regulatory and auditing gaps That went on with that institution and Yet at the same time what I'm reading is So many people have been critical of SBF For having this close relationship with Their regulator is the fact that he Visited Gary guns there so many times so Where do you draw the line we need to Strengthen regulation and oversight in This industry but how close should there Right here you're going to see Brad Garlinghouse pays close attention to the Xrp community and what goes on he brings Up Madoff here in a second and I can Promise you he's been watching what We're putting out Ah come on now this industry but how Close should the relationship be between Your peer group and the U.S Regulators

Who are looking at these institutions Yeah first of all I think you're exactly Right I you know we we talk about this As a crypto problem but really this is Just fraud and I think in some ways not That dissimilar than Bernie Madoff and When when Bernie Madoff occurred you Know we didn't totally restructure how We thought about oversight and Regulation of hedge funds Bingo you know We realized that hey we clearly in that Case also the SEC had overlooked and if People had reported to SEC they should Be looking into permit quote overlooked SEC they should be looking into Bernie Madoff so I I know that the SEC had met A bunch of times with SPF uh I don't Know the specifics of what types of Oversight they were applying I do think This is a fraud I don't view this as a Crypto problem at large but to your Point I think regulatory Clarity Globally is important and we're seeing a Lot of countries I mean here we are in Davos and Switzerland's clearly one of The countries leading in providing Regulatory Clarity in early stage you Have the UAE leaning in the UK Japan Switzerland sorry Singapore the US is Notably absent from that list and I Think in some ways The Regulators in the US have added confusion to the crypto Marketplace and let's talk about those Regulators in the US the SEC Brad let's

Get a check in on what's going on with That lawsuit uh with the SEC and ripple Are you nearing it in potentially are You planning to settle with the SEC well We have always said that we would love To settle but it requires one very very Very important thing and that is that on A go forward basis it's clear that xrp Is not a security the SEC and Gary Gensler has very outwardly said he views Almost all crypto as a security and so That leaves very little space in a Venn Diagram for settlement that the case is Now fully briefed in front of the judge And you know judges take however long The judges will take you know we're Optimistic that this will certainly be Resolved in 2023 and maybe the first Half so uh you know we'll see how it Plays out from here but I feel very good About where we are relative to the law And the facts so you are you going to Wait for the judge to to come out with a Decision on this one I'm very optimistic And I think absence some significant Change in posture from the SEC I can't Imagine that we won't uh have well let Me tell you uh unless an attorney Corrects me on on whether it's even Possible at this point we still don't Have a decision I don't think on those Hinman emails and if today the judge Came down and said show them all the Hinman emails unredacted I believe the

SEC settles if they're if they still can I'm assuming they still can So from the SEC I can't imagine that we Won't uh have resolution from the judge I also will point out and I'm certainly Something I've heard here in Davis Repeatedly is how important this is not Just to how Ripple it goes forward but Also really the whole crypto industry in The United States and I keep reminding People that outside the United States Crypto is still thriving Ripple is still Thriving and we should make sure we're Continuing to engage non-us Regulators As well I mean it's also Hardy to hard Difficult to say it's thriving when so Many people have lost a lot of money Speculating and the key word here is Speculating on the price of Bitcoin and Various other cryptocurrencies I Remember back at the peak there was a Lot of talk about institutions getting Involved given what we've seen given the Price action given the drawdowns given The numerous amounts of fraud cases that Have gone on in the space doesn't it Feel like the hurdle is extremely high If not impossible now to get Institutions involved if you were Sitting on a board of a pension fund how Could you justify to them that you're Going to get involved in Cryptocurrencies well I think it depends Upon what how we're defining

Institutional involvement you know uh When I think about institutional Involvement with ripple I'm thinking About financial institutions Banks Payment providers who are using our Technologies to solve a cross-border Payments problem they've continued to Engage we've continued to grow and so I Feel good about that uh but like I think Any time you have this kind of change You know people take a moment I also Think and I I pointed out in one of the Sessions I was in at Davos here Yesterday is you know we talk about Obviously crypto is down 65 percent Tesla is down 65 Facebook is down about 65 percent no one's saying hey we Shouldn't invest in Tesla or Facebook so I think we we have to I mean clearly I I Would much rather not have the Volatility we've seen in crypto in 2022 But I think we also have to look at that In concert of other kind of growth uh Investment areas and again to your point Most of crypto has been speculation if It's just speculation I don't think That's long-term sustainable we need to Focus on utility and make sure we're Solving problems for growth well then Bitcoin's in trouble Um okay and then Anthony welfare from Ripple retweets it says great update From our fearless CEO on our best year Ever in uh for ripple 20 in 2022 the

Future of crypto FTX fraud Enterprise adoption and of course his Thoughts on xrp court case And then um this also Anthony welfare Ripple cross-border Inaction xrp utilities is a reality and It's only just the beginning All right and this right here what he's Pointing to is this Ripple now dominates Australian crypto exchange volumes Um that's what happens when you're Regulatorily you're free okay it would Do the same thing in the U.S that's the Reason they've held it back that's the Reason they propped Bitcoin ethereum up From a regulatory standpoint is because They knew that xrp would drop kick both Of them fact Jack it's just the fact It's the way it is cross-border payments Cryptocurrency Ripple now dominates Trading volumes as at some of Australia's leading digital exchanges in The international payments emerge as Primary use case in Australian digital Assets markets folks it's not a Coincidence that it in 2018 Xrp outperformed everything and that's When these people behind Bitcoin and Ethereum knew they saw the writing on The wall that's why they all went in Motion to slow this down and to do the Regulatory capture of xrp and that's Just the way it is and that's where all Of our evidence that we've found leads

Brad garlinghouse I'm honored to join The European commission's mered McGinnis Uae's Omar Sultan all I mean golly They're going to make me say these names And then this person and Bloomberg Stacy Marie is uh God the names finding the Right balance for crypto so he's talking About the segment he's going to do which Is tomorrow in Davos coinbase is halting Operations in Japan less than a month After another major digital asset Exchange Kraken announces withdrawal From the country then we have I want to Show you this folks This is not Gary gensler's first rodeo Gary Gensler was there at the cftc he's The chairman at the cftc when the MF Global Scandal erupts okay MF Global is The same freaking thing as FTX it just Wasn't crypto it was co-mingling of Customer funds and Gary Gensler oversaw It the same way this time he oversaw FTX At the SEC and listen this is one of the Investigate the attorneys that was going After all the bad guys in the MF Global Situation listen to this on the cftc Chairman guy named Gary Gensler was Actually Um a protege of John Corzine believe it Or not and worked with course John Corzon was the CEO of MF Global he was At Goldman Sachs he was Gary's boss Gary Was his Protege then he goes to do MF Global while Gary is the the chairman of

The cftc you see how this works hey uh Some of them commodity Cftc regulations more lenient so that Firms like MF local could invest client Money in more aggressive things Corzine or sorry densler actually on the Day of the bankruptcy Um you know supposedly in a closed-door Meeting with with the SEC decided that Instead of the cftc handling the Liquidation and I'm not Global Because there were 6.2 billion commodity Accounts versus 100 million in Securities accounts he let the Securities Regulators handle the Bankruptcy and they threw it under they Let the Securities Regulators do it Because Gary was too close to the Situation an ad called siba which is the Securities investor protection act which Is administered by the Securities Investor Protection Corporation so You've got an entity whose job is to Slowly and you know methodically wind Down broker dealers And you know banks with engaged in Security straight in and then cover any Shortfall with its Civic insurance which Is 500 000 per per account you got them In charge of the liquidation of Something else 99 a Futures broker did You hear that so you got the SEC Basically they've they've deferred it to The SEC and they deferred it to this

Organization even though 99 of MF Global Fell into the cftc where Gary gentler Was chairman and he didn't oversee it so This wasn't really a good situation yeah Not a good situation because it stinks To high heaven now Eleanor tarrett Breaking doj will hold a press Conference at 12 pm to announce a major International cryptocurrency enforcement Action the U.S treasury will also Announce an action live stream Link in On the doj website and more info below This looks like a big old deal here Folks this will be interesting I'm the Digital asset investor I'm not an Investment advisor this is for Entertainment purposes only Please Subscribe hit the like button tell your Friends and family to tune in at 12 p.m Gonna be interesting Thank you Thank you

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