Ripple CEO On XRP Markets & Consensus 2023 vs. SEC

[Music] Ignition sequence starts six five four Three two one zero liftoff we have a Liftoff [Music] Hey everybody this is the digital asset Investor and I wanted to remind you link Two's got my sponsors got uh they're Mentioning here that uphold has Announced the launch of their new Fiat Crypto on ramps called topper and they Do have uphold shares and I am an uphold Shareholder and the Link's in the top of The description so go check it out and They also yesterday launched their Alternative trading system just for poly Sun equity and last time I checked they Had poly sun on there too check this out Egrag crypto a couple of charts he put Out this morning I was going to show you Xrp the next kaboom the first one Pumped 47 000 per second percent the Second one pumped 700 how much do you Think xrp will the next Kaboom will pump Well I don't know but what and he's Giving you choices here 303 000 30 000. I'll bet they're all folks when you get If there's a favorable settlement just Remember xrp did this and did this With no Clarity and with everybody in The industry and everybody outside the Industry trying to attack Ripple and xrp Okay So what the question is what can it do

When when all the skies are clear and I Think it can do major things that's why I've been here for so long Um and then he's got one on gold he said Gold's bad battling this FIB Circle and He said once gold flees it Say goodbye to 2000. So This is what he's talking about right Here so Two thousand plus two thousand dollars Look I I think Gold's been suppressed For many many years I think that if if The true price were known It would be over ten thousand dollars at Least I think with the help of JP Morgan and Others precious metals we know they've Been the prices have been suppressed so Who else is helping the government to Keep the prices suppressed that's my Question Um then we had this coinbase has got an Interesting approach they're literally Publicly coming out and and and saying To the SEC there's no need to sue us Let's just sit down and talk and work This thing out listen this is their Brown Armstrong talked about the history Of what they've done and then their General counsel which is this guy then Spoke that's the part I wanted you to Hear for our industry now I'll hand it Back over to Paul has been talking to

The SEC about our business for many Years now including sharing our legal Views on our asset listing and staking Services we've repeatedly asked the SEC For its own views on how Securities laws Might apply to coinbase and our industry And to be candid we've mostly gotten Silence in response coinbase will defend Itself vigorously in litigation if it Comes to that But it does not have to come to that we Will show up at your offices any day Anytime to discuss a workable path Forward for our industry but we won't Find that path without true dialogue Now the problem with coinbase's approach Is that anybody out there who's ever Dealt with bullies which is what Gary Gensler's got this power and so he's Being a bully to the industry the only Thing there's only one thing that Bullies understand folks and that's Fighting back and unfortunately for Coinbase I'm afraid that that's going to Be the only solution for them and here's The same guy at coindesk um at consensus This week If I can get it to play last Wednesday We did submit a formal response to the Wells notice that we received and that Submission consisted of two things a Video a portion of which you all just Saw and a brief which outlined why we Believe an enforcement action against

Coinbase would be misguided and contrary To law and the Heart of our argument in That brief which I encourage all of you To read since we've now posted it uh Publicly is that Fundamentally nothing has changed about Our business not just over the last Several months but over the last several Years In April of 2021 coinbase submitted a Draft registration statement and an S1 Application and as part of our request To be allowed to be a public company we Laid out in detail after detail how our Listing process works the standards that We apply why we believe that the assets That we list on our exchange are not Digital asset Securities even though Someday we would like to be able to Offer them What is what he's getting at there is That that there the SEC allows them to Go public with all these supposed Securities on their platform and never Said a word about it lets them go public Anyway And then the same thing happened with Ripple I mean Ripple got a had a Fincen find Ripple and they called xrp a Virtual currency and then you've got Another agency suing it so what this is Called folks is government tyranny That's what this is called you want to Cut through we have a bunch of criminals

Running our government that's what this Is They just don't call them criminals but I do because that's what it is these are A bunch of shysters that are Intentionally they're they're it's like Greg Kent is they're doing this the Tony Soprano thing and they're trying to Squeeze money out of people is what it Is or hold them off for their their Friends on Wall Street it's one of those Two things in all these instances and so There ought to be repercussions for These people that's the problem our Country has is that we've seen no Repercussions all it would take is one Of these people going to prison and then It's over you wouldn't see them acting Like this anymore but that's what this Country needs now check this out uh Jake Claver if you remember Jake claver's the Guy who I put out the vid the clip on he Was talking about Um trusts and different things he's a Financial guy It's actually I put the clip out it was The most watched video clip I've ever Put on Twitter you can go back in my Feed and you can see it but here he met Um David Schwartz at consensus looks Like Now here's another clip from consensus This is Caitlyn long she's very smart She's a Bitcoin Maxi but very smart

Finance don't understand that The Ledger Systems that are traditional Financial System run on both in the banking system And in the security system are not Honest ledgers And if this is a really simple concept All we really want is an honest Ledger Because if we have an honest Ledger then The fruits of our labor can be saved in A way that someone else is not stealing It Good I believe that these are MIT people Right here Michael J Casey and I think That's Neha nerua I don't know for sure But it looks like the these are the People that worked with Gary Gensler Red Flag City very powerful idea I mean I Okay but then I do agree with what with What the gist of what she's saying and I Also uh now this now remember she's the One that started custodia bank and she Couldn't get the proper licensure what She's talking about here is important Because what she's talking about is how The government basically was never gave Her her company or all the other Companies that had filed applications They weren't allowed due process which Is the law and I was making the point That what we now have is a government Who they don't care about what the law Is they make you sue them or they they Sue you and make you prove that they're Breaking the law and that what they've

Done is illegal and make you do it at Your expense while they use taxpayer Money to to fight you and spend tons of Taxpayer money when they already know That they're not abiding by the law They're that they don't have a faithful Allegiance to the law which is what the Judge in SEC versus Ripple said about The SEC so they did it to her too one of The other reasons why we knew from the Get-go and I didn't share it at the time But we did end up reviewing it was that One of the reporters put it in email Okay so when I say have the receipts Your colleagues were asking what did you Have we have it an email from the Reporter And the reporter actually said I've been told that all of the crypto Applicants at the fed and the OCC have Been asked simultaneously to withdraw Their applications there's The Smoking Gun right there okay because how would That have otherwise happened we are all Applicants with due process protections Under the law as you know Dean Evans and These applications are supposed to stand On their own but a reporter in writing Told us that we were all three Simultaneously asked to withdraw and Then we we subsequently learned that it Was true we were just the first and it Was confusing at the time but now that All of us have been talking and now it's Crystal Clear what has happened you know

It's now really clear Yep Um and then the he this guy is also a Bitcoin maximum Eric Voorhees but he Makes what he's saying is a thousand Percent true too failure Is permitted Like this is what makes it different Than the traditional financial industry Where failure is uh prevented and the Institutions which fail the biggest are Enshrined and protected and given Longevity Um thank goodness that we still have a Semblance of a free market in this Industry FTX is gone right They they up they defrauded People with billions of dollars And they're gone that's healthy and so While it was painful short term Um we should look at this as a sign of Health In the and and right now with this like Banking crisis these banks that are Failing are often getting Propped up yeah they have implicit or Explicit guarantees from the Federal Reserve or Treasury And um what are the second order effects Of this right you you build up you build Up the risk and you reward the Bad Actors Okay now see I agree I'm no fan of a corrupt government my

Folks I mean make no mistake where I Depart with these Bitcoin Maxi people is You're you're talking about how you can Trust Bitcoin all but you don't know who Created it I mean that to me that Contradicts everything that they're Saying they stand for unless you've got The person unless you've got someone That steps forward said I I created this And you know that they're not a bad guy Or how do you know you don't know Anything you don't know that the Government's not behind it and that's The problem that they have and none of Them want to even have a conversation About that issue That's dangerous that's why it's never Made it just hasn't made a lot of sense To me look what Brad garlinghouse said He retweeted the quarterly market report From Ripple the U.S may be moving Backwards but I like to focus on the Positive in the last few months the EU UK UAE all move moved forward with new Regulatory Frameworks and regimes for Crypto activities read on uh here's the Markets report and then We've got this some of the Congressmen Have been they held a hearing like a Subcommittee hearing yesterday which I Thought was pretty optimistic listen to Some of this is Patrick McHenry yeah I Want to thank you for how you've Conducted this subcommittee and the

Collegial efforts we're trying to you're Trying to lead to build consensus here Digital assets are here to stay Uh this ecosystem has been denied legal Clarity for too long and both Market Participants and consumers are worse off Because of it We have a market that lacks Clarity and We have a duty to create regulatory a Regulatory environment that allows Responsible Innovation and responsible Consumer protection to sit side by side With appropriate legal Clarity we need That Innovation here in the United States If we don't act if Congress doesn't act The rest of the world will the Europeans Are ahead of us and a market structure Bill uh the UK uh regime is ahead of us They've provided local Clarity while we Have not we need to do our work and it Starts here in this subcommittee with These members and I want to thank this Panel for the expertise in bringing Bring forward ideas on how to protect Consumers and ensure Innovation happens Here's another one of the good guys Listen to this thank you Mr chairman uh Let's briefly take a step back and Identify why we're here the SEC and Gary Ginsler have forced this committee's Hand There is simply no way that the digital Assets ecosystem within the United

States will survive with some kind of Action from Congress to combat the Regulatory Deluge we've seen in the past Few months We've all heard from firms like coinbase That they will move offshore the reality Is that in this environment it's hard to Blame them In February the SEC issued a proposed Rulemaking that would severely restrict The ability of current custodians for Registered investment advisors to Continue to hold custody of those assets Mr Rivera I'd like you to briefly okay I Just wanted to show so this Mike Representative Mike flood is one of the Good guys then here's another one french Hill Well thank you for joining us in today's Hearing entitled the future of digital Assets identifying the regulatory gaps In the digital asset Market structure We've got a unique opportunity as Members of this subcommittee to be on The Cutting Edge of crafting an Effective functional regulatory system For the digital assets ecosystem okay so They're all fighting the good fight Um let me see I'm gonna skip that for a Minute because I wanted to show you Um this while they're all fighting the Good fight let me move this into uh Position here Make sure I've got everything right I'm

Going to do those others in my next Video while they're all fighting the Good fight Senator Elizabeth Warren Remember she said that she wanted to Create her create her Anti-crypto Army and it turns out that That's not going so well for her because She's having to delay the reintroducing Her crypto bill due to lack of Sponsorship so I just wanted to propose To her that maybe she should change the Name of the anti-crypto army to the Anti-crypto squad since it's not going To be quite as big I'm the digital asset investor I'm not An investment advisor this is for Entertainment purposes only Please Subscribe hit the like button and tell Your friends and family to let a senator Warren know as she's getting off of her Lear jet since she cares so much about Global warming in the environment Um that she might need to change the Name to the anti-crypto squad Because it's going to be a lot smaller Than [Music] Thank you [Music]


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