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Hello this is Matt on the moon Lambo Channel and I got to admit I've been Very curious about this topic for Literally 3 years now when the SEC sued Ripple on December 22nd 2020 which is Three years and one day ago um it it was Quickly revealed that the SEC actually Did have specific settlement terms for Ripple so Ripple and not just Ripple but Also Brad Garling house and Chris Larson Who were individually sued three years Ago by the SEC uh they actually did have Out they could have all just agreed to Particular parameters and then this Whole thing would have gone away so we Did know that but we've never heard what Those terms were ever until now now we Do know what they are and you know my Only assumption was that whatever those Terms were were utterly reprehensible And completely unreasonable oh yes they Were absolutely they were clearly not Remotely reasonable or favorable for Ripple or xrp holders and I will tell You this You know if Ripple after getting sued if They if Ripple didn't have a huge War Chest basically more money than God in Conjunction with the fortitude to fight Back against those Pricks at the SEC Then we xrp holders would have been Permanently financially devastated based On what these particular settlement Terms would have been they're bad folks
It would have been game over Like uh I mean technically yes xrp would Have gone on to to to survive but I just Mean specifically in the in like in the Short term and what it means not even Short term but specifically what it Means for holders in the United States I'm not convinced that United States Holders actually would have recovered I Don't know what that would have looked Like but anyway before we diving into What all the specifics are here I do Want to be clear I do not have a Financial back of any kind I am not Offering Financial advice and so you Definitely should not uh 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 all right so uh last night In the evening on the three-year Anniversary of the SEC filing suit Against Ripple attacking xrp holders This is when Stuart alderotti Finally Revealed all of this nonsense that was Happening behind the scenes and oh yes It's I'm so thankful for R it would have Been just devastating for xrp holders Specifically in the United States cuz I Mean with the suit that already follow Obviously the price of xrp was severely Damaged who Untold numbers of developers Never end up building stuff on the xrp
Ledge of the last years that probably Would have Untold numbers of humans that Otherwise would have put money into xrp The last few years to speculate they Didn't so xrp prices artificially Suppressed even today as a result of all This um but it could have been even Worse if if Ripple just gone along with What the SEC actually wanted so here's What Stuart Alder wrote this is of Course Ripple's a top in-house lawyer Their Chief legal officer he wrote Before the SEC sued Ripple Chris and Brad three years ago today they ordered Us or I'm sorry offered us rather they Offered us the following settlement the SEC would announce to the market that Xrp is a security and the market would Be given a short window to quote come Into compliance end Quote we said no because number one xrp Is not a security and two the SEC never Built a framework for crypto Compliance no matter the spin that Clayton Henman guinsler or anyone else Puts on this case now it was always About one thing proving that xrp is not In and of itself a security we put Everything on the line few thought we Would win but we did in the process we Exposed the SEC for the hip hypocritical Tyrant it is and the industry in the US Lived to fight another day onward to 2024 and so there you go folks I I just
I'm not surprised it's something along These lines I mean I I I had some my own Thoughts over the last few years about What that might have looked like and This is pretty much in line with what I Would have guessed it would have been The end of xrp as we know it in the United States specifically for garbage Reasons this would have wrecked xrp Holders in the United States potentially Permanently now again outside of the United States xrp already had legal Clarity but then there's there's also The question to what degree people would Be turned off from building just Regardless uh with with a lot of Uncertainty and questions you never know You never know that's all I'm saying but Yes in the United States it would have Been just wrecked forever it seems like I I I don't know because if if Ripple Had agreed to it what do you even do Then like the SEC says it and then Ripple's like no yeah that's that's a Security it's security of Ripple can you Imagine we just we just we would have Been forever wrecked it would have been Absolutely horrendous and Terrible uh here's a post from Attorney James Murphy goes by metal law man on uh On X and welcome back for for those you Who may not have heard uh he was Actually unduly uh suspended from X uh He ended up writing a letter to the CEO
And some others which I shared on my Channel at the time and uh he recently Ended up getting his account back Because it it really was a mistake um so Anyway he wrote to steuart alate and Said very few companies and Executives Have the fortitude to refuse to give the Bully their lunch money this is Particularly true when the bully is the Most powerful entity in the world the United States government congratulations To you Stewart and to Chris and Brad Sweet Vindication oh yes that was Definitely some sweet sweet Vindication I I Just it's just amazing because it it was One of those instances where there was No no shortage of of of Attorneys um career attorneys in Securities Law that said yeah this is is Not looking good for ripple even if they Didn't think that xrp was a secur it was It was not hard to find that type of Analysis just because it's the SEC and that's to me it just seemed kind Of like in some ways for some people Kind of like just a defe attitude Because you then you had somebody like Attorney John Deon he's spoken about This you know he's a new set of eyes Yeah he's an attorney but you know he he Became a security attorney 3 years ago You know what I mean like that that's Not what his work was and so taking a
Fresh look at he's like no folks there's No way in like it's not that's why he he With such confidence the SEC is not Going to win this Thing uh so I do think him him just Having a fresh set of eyes compared to You know Securities attorneys that were You know for decades in in it had a Different Look uh then there was this from Attorney Bill Morgan who simply Wrote wait you mean the SEC wondered Ripple to capitulate to create the Moment and event to make the whole Market concede cryptos our Securities And be cowed into coming into compliance Exactly exactly and can you imagine if Ripple did seed that Point for all subsequent litigation for Against other developers working on Other cryptocurrencies you know that Would have been cited and it would have Been powerful like if if even Ripple's Like yeah this is a security of our Company what are you talking about that Would have been but it would have been The easy way out for Brad and Chris and Instead they were bullied and it wasn't Until recently that Brad and Chris had The cases against them withdrawn by the SEC because they were never real cases Anyway and they wouldn't have won Obviously it was a bullying tactic to Try and convince them uh to to acquest
But they wouldn't they wouldn't play Ball and so the SEC just did some Disgusting stuff There uh here's what Attorney John Deon Had to say on the three-year anniversary Of the lawsuit being filed three years Ago today Jay Clayton met with Gary Guinsler the next day today Clayton Filed the secv Ripple case alleging all Xrp tokens to constitute illegal Securities Clayton filed the most Significant non-f fraud SEC enforcement Action in modern history since 1946 and Then walked out the sec's door forever If you don't think the xrp case was the Topic of discussion the night before Between Clayton and guinsler your Incredibly naive yeah so I think that Attorney deon's spoton with that that That analysis of course it was Discussed but Still we'll never know to to what degree Guinsler was or wasn't gungho about it Getting filed but clearly Clayton wanted It done I mean hell it could be the case Like like you know maybe he would have Wanted to stretch that a little bit Further but it looks to me like Clayton Just want to Make for damn sure that it would happen And so he did it while he he he he still Had power on the very last day so it Makes me wonder if if perhaps he had Less confidence in terms of the timing
Are he just wanted to make absolutely Sure it happened for whatever internal Reasons he Had and he did oh he sure as hell did But that's why it's so sweet sitting Here 3 years later going into a new bull Season earlier than what we were Expecting uh xrp having legal Clarity This Christmas is a lot more fun you Know going into this Christmas a lot More fun for the xrp community than Going into Christmas for all of us three Years Ago so lots of reasons to smile and so There we go it's just I'm glad that they Put this out there because I I Admittedly like I'm sure all you guys Are just as curious right like wondering Because we knew there was a settlement Offer what was the settlement offer well Now we know that was it revealed for the First time 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
