Hello this is Matt on the moon family Said Dan Channel this past Monday I Co-hosted a Twitter spaces with Attorney John Deaton and it ended up actually Going really well in the end uh setting Aside the technical mishaps which I've Already described on the channel and Some of you were there so you are well Aware of what happened it was a bleep Show at start but it ended up being Really great honestly Um but uh that discussion was about uh Ripple's liquidity Hub and as there's a Lot of community discussion around uh And expressing concern that Ripple look Like perhaps abandoning xrp and you know Xrp wasn't uh you know part of Ripple's Liquidity Hub among upon launch and uh Ripple did ultimately make clear they Probably could have done a better job Communicating this to the public but it Had to do with regulatory concerns and I Don't want to go through that's not the Purpose of me recording this video not That explicitly but I'm just kind of Setting the table here so that you all Know where what I'm going to cover came From Um and I will also mention like you can Still listen to that Twitter space you Will have to be on Twitter itself but it Was a good time so at uh at the time We're recording at its peak when it was Live there were about 1700 people a
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Little over 700 people in the in the Twitter spaces and at this point uh you Can see it's on your screen 21 100 People have viewed this Um and it really was a great discussion It was nice to be able to share Thoughts With people in real time so maybe doing Some more of this uh in the future Actually I'm pretty interested in it Actually despite the technical mishaps Which were frustrating and stressful Enough fun setting that aside but the Reason that I mentioning all this Because Um one of the comments that I made Was was that Ripple has never sold any Xrp to retail speculars like you and I For example and I was surprised to have Two people in a row tell me that I was Wrong and I was just surprised not that I know everything you know there are Probably some things that maybe people Think is common knowledge within the xrp Community that perhaps I really just Don't know but this one really caught me Off guard because I'd articulated many Times it varies for various reasons over The years of my channel Ripple is only Sold to you know people on entities on An Institutional level and currently It's only you know because he's knocked Off their programmatic sales back in 2019 and you know now they're just Selling to uh and you know on demand
Liquidity Partners that's that's Literally and they buy xrp back but I Never heard of them ever selling to Retail speculators like you and I Um so it caught me off guard when two People in a row told me that I was wrong And in in the day since I actually spent A little bit of time uh trying to find Where Ripple had done this because I I Mean like two people literally back to Back just about were telling me this I Thought maybe I really did just miss Something that's that obvious which Would be interesting because then There's a question are there legal Implications to that because I mean you May well know if you look at the sec's Motion for summary judgment their final Legal argument just about the part of What they bring up is that uh Ripple's Intended result is to get xrp into the Hands of retail speculators Um so I ended up after doing research And I was unable to come up with Anything I was like I just need a crowd Source information so I ended up putting Out a tweet I'm going to show it to you In a second and resulted in an Interesting little back and forth and I Think we've gotten to the bottom of this But uh before going further I do and 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 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 and so yesterday I tweeted out the Following Has Ripple ever sold xrp directly to Retail my understanding is no but during The Twitter spaces I co-hosted with Deaton a couple a couple people said They thought I was wrong If I'm wrong that's fine of course but If that's the case could someone please Provide a source because look I just Want to believe as many true things as Possible in life just in general and so If I'm believing something that isn't True I appreciate it when somebody Tactfully lets me know hey you're Actually wrong about that I I just I Because again I want to share what I Know I appreciate when people share Stuff back because I'm a human I'm Certainly not infallible there's going To be mistakes from science from time to Time anytime I make mistakes and I catch It then I'm happy to own that because We're all human that's just the right Thing to do but I just I wanted to know And one of the individuals from the Twitter spaces that uh that did tell me That Ripple did sell directly to to Retail
Um was uh the guy on your screen right Here who goes by the name V it's at uh Victor Victory 75 and he was one of the People one of the two that uh during the Twitter spaces articulated that I was Mistaken and that Ripple had sold to Retail so I appreciate that he jumped Back in and um I ended up actually even Chatting back and forth a little bit After our thread here uh direct messages And I'll keep that private because That's I don't divulge uh direct message Stuff but I will just say it seems like A really nice guy uh just had some Really sharing of ideas thoughtful Discourse that and so I appreciate this Greatly because having these types of Conversations even when it's kind of Like debate mode like debates are fun I Hate arguments comparatively I hate them You know it's it's okay to have Different viewpoints on stuff I just Wish more people could behave like V Here and be adults and just Express Their perspective even if they you know Think that I'm wrong that's totally cool So it is nice to come across you know Adults here who are actually capable of Doing that Um but anyway so V responded to me and Said hey Matt the retail sales are the Ones Ripple sold directly to exchanges So while these were not direct sales to Retail they can be viewed as indirect
Sales however one can argue that these Sales were offering the liquidity for On-demand liquidity they can be seen as Distribution events and so upon reading That I understood immediately what had Happened he was considering uh Transactions to an institution as a Transaction to retail And so then it caused me pause it Because I was like okay see even though I understand that that's not retail and The exchange obviously it's on a more of An Institutional level I think it's fair To say Um is it fair to characterize even if Not directly those transactions would it Be fair to characterize those sales by Ripple as indirect sales to uh to Retailers like you and I as V is Asserting here and so I thought about it And I thought after you know literally Looking up what the word sale means just To make sure I wasn't missing anything If I want to be precise I came to the Conclusion that no and there is no Reasonable way so far as I can see to Consider these transactions to be sales To retail and it's not even indirectly So it is a pretty big coin because Ripple has from what I've seen Everything I've ever seen from them Articulates in that we're just telling You know here in the institution level Here with on-demand liquidity and so to
Make a claim that uh it's actually to Retail which is in line with what the SEC wants you to believe is true even Though it's not like it is a pretty big Claim so it's definitely worth Discussing as a community but I saw Instantly once he typed I was like oh Okay well I kind of wish that that would Have been articulated during the Twitter Spaces because I ended up leaving the Twitter spaces and I even said live at The time was like if I'm wrong that's Fine just can somebody you know explain Where there's a source that's fine I Just I would like to see that and so That's why I did this here I'm not Afraid to be wrong but I want to know The facts that's pretty much it so I Responded to V And I wrote oh is that what you meant During the spaces sales to exchanges Aren't retail sales Institutions could buy xrp from Ripple The institutions could then sell to Retail but that wouldn't mean Ripple is Directly or indirectly selling to retail And so V responded to me he said uh yes While none of these are direct sales as You say the exchanges would have made That xrp available to the retail Market Where both institutions and Retail Customers would have bought it I guess It's a matter of perspective uh Personally I see them as indirect sales
And it's not like a crazy thought that He had I can and in fact I'm willing to Bet since we haven't gotten to the end Of this video that there are probably Some of you out there listening around Here thinking yeah that does sound like An indirect sale well let me try and Persuade you I'm going to give you my Best argument here because I just don't Think that's the case after spending Some time thinking through this and if You think I'm wrong and you've got a Good argument bring it to me because I I Can be persuaded you just gotta have a Compelling argument that makes logical Sense and I absolutely can be persuaded On any topic right But um I responded with the following I Wrote to V respectfully disagree If I buy a used Ford Explorer from Carvana it's not Ford that sold me it You could accurately state that Ford Manufacturing it resulted in a secondary Purchase of it but you can't state that Ford had any hand in the sale of such a Secondary transaction right and so Something happened because there was an Initial player that built something and Then you know trading hands ultimately That is a different concept than being Party to a sale directly or indirectly And I break down that concept further Too so let's go down a little bit Further so then I also wrote has Ripple
Ever had a hand in the transfer of Ownership of and Title II property from One person to another for a price for Any secondary Market transaction Unless you can provide evidence they Have then it is the case that Ripple has Never sold xrp to retail and actually Share this definition of the word sale Um directly from Merriam-Webster's and You can look at the top two right here So the first definition is uh the act of Selling specifically the transfer of Ownership of entitled to property from One person to another for a price and Then two uh opportunity of selling or Being sold distribution by selling so When you're talking about the transfer Of ownership of entitled to property From one person to another for a price Well that happened when Ripple sold to The Exchange but when the exchange which Is a separate party sold it to somebody In the world of retail that's when the Transfer of ownership entitled the Property that's when that would have Occurred Ripple has nothing to do with that Transaction Not even indirectly So so let's go a little bit further Though and so um because again I wrote Unless you can provide evidence they Have then it is the case that Ripple has Never sold xrp to retail
I think what's more likely is that You're unintentionally conflating part Of the origin story of xrp with the fact That ultimately secondary Market Transactions were inevitable the Definition Of the word sale is key in what I'm Articulating here and so in the next Part of my um my response to this Um I think it's and it's crucial to Understand this is there is a way that Ripple could help indirectly facilitate Sales of xrp they actually could do that But when they're just doing their own Thing and then other people on the Planet are doing other things and ripple Is in no capacity involved to state that Ripples um you know indirectly selling Xrp it's it's just just flat out Incorrect Um and so here's what I wrote For ripple to have had a hand indirectly In the sale of xrp on an exchange they Sold xrp to the following would would Have to occur Number one Ripple would sell xrp to Exchange and number two exchange would Consult Ripple on who that xrp would Ultimately be sold to in some capacity So there you go that would see that Would be Ripple have in hand on this and Then you could truthfully say if there Is any sort of evidence of that ever Happening then you could truthfully
State that Ripple has indirectly sold To uh to uh to retail because they would Have had a direct impact uh indirectly Uh I said that exactly wrong they would Have had indirectly an impact precisely On this matter though on of that of such A transaction So then it would be accurate State there And I then wrote unless that has Happened or something very similar then Ripple has had no hand in the sale of Xrp to retail whatsoever not even Indirectly and and folks if you look if You look at the definition of the word Sale I I think it pretty cements my it pretty Well cements my argument here Um and then V was very courteous and Responded to me and wrote a very good Train of thought and logic and again I Must agree But one way or another selling xrp is The distribution model that Ripple have Chosen to do and not giving it away for Free Ultimately this is how xrp is getting to The market and where the SEC thinks the Issue is and so and that's totally fair By the way and So I responded and I said We agree Ripple has not sold xrp to Retail directly or indirectly but Unquestionably they have had a Substantial role in the proliferation of It
One caveat Ripple gave xrp away for free In the early days and so some of you may Be unaware of that I'm sure a lot of you Do know though uh maybe in 2013 or maybe It was 2014 I'd have to double check Through a Google search but they were It's probably actually it's probably 2013 because I remember that the they Were giving xrp away but then eventually It became problematic once uh expert was Trading on exchanges because then people Just taking it and they're just selling It off right away and so it was Detrimental to price action for xrp so Then they're just like well I guess that Distribution method isn't going to work Anymore so they probably could have Thought out that one a little bit better To be honest I think that's a fair Critique of Ripple but this is all new Um so yeah so he wasn't correct when he Said that uh Ripple hadn't given away Xrp for free they literally did this not That much Um and so uh and then a v responder Received me and said yes I wish I knew About it back then and get some more and I wrote haha yes we'd all be happy with Free xrp and who wouldn't love that I'd Love to travel back in time and get me Some free xrp but they weren't giving Out a ton to be honest with you may have Been I'd have to go again double check But it may have been something like a
Thousand xrp and what was it worth at The time substantially less than a penny You know like three tenths of a penny Half a penny something like that and I Think that's about what they were uh Given or at least that's what it was Shortly after that I don't know Um now in terms of the implications of This they're real Um attorney Morgan doesn't seem Incredibly convinced that it necessarily Matters but I want to Sheriff's Perspective because he retweeted my Thread there and uh attorney Bill Morgan Wrote I am not sure it is relevant if whomever Ripple sells it to sells it to retail The SEC will say uh that party is a Statutory underwriter on-demand Liquidity sales are different in my view Former SEC attorney Mark Um probably a disagrees and he tagged The guy there but they are mostly after The lawsuit started and that's like I Don't pretend I know for sure because I I'm not I'm not an attorney I just play One on YouTube I don't know man but but Uh uh we do know for sure that the SEC Is They do have beef with us because they Have a clear issue with the fact that uh You know because of Ripple's actions It Ultimately does result in xrp ending up In the hands of retailers and I'm not
Going to read what's on your screen here But this was uh shared by the former SEC Attorney named Mark it's on your screen Right here this is the guy that attorney Morgan tagged and it's in a nutshell if You don't want to read it basically You're just noting here that uh this is Basically Ripple straddle strategy ends Up in the hands of people like you and I That that's where xrp ultimately ends up So you know in terms of the the legal Ramifications I don't know all I know For sure is that I mean it must matter To some degree even if attorney Morgan's Right that it may not in the end be that Big of a deal it only matters for sure In the sense that the sec's argue in it And if they're arguing it it matters to Them and that means something now from a Legal perspective they have to do they Have the right legal perspective I don't Think so but it's just one more thing to The character so that's what I'm saying If it were that much more clear uh you Know that Ripple it weren't the case and It's not but if it were the case then Ripple were actually selling directly to Retail speculators which is why I wanted To talk about this it actually it's I Still think it does matter Uh you in the end I think it would just Make it easier for the SEC to argue the Point that they're making in the end Does it have a if you're talking about
Somebody who is unbiased they'll come in This would make a material whether it be A material distinction there uh well Attorney Morgan doesn't seem to think so But again it just makes from my Perspective it just makes the sec's case That much easier to argue so in the end Yeah some of what I've been talking About here in this video had to do with Semantics but it's an important issue And I wanted to talk about it because it Had been bothering me this whole time That perhaps perhaps I was wrong and I've been saying for years something Incorrect in which case I want to do it I want to address it whether I was right Or wrong But um I I was so curious I was like Okay Am I right Ripple Act to retail and publicly stated and I Actually missed it because I was Thinking well maybe maybe that did Happen I don't Know maybe I actually missed it but it Looks like it was more thing having to Do with you know what do we mean by Selling to retail and then you find out It was actually okay well if you're Considering those to be indirect sales Through an exchange well I don't think It meets I I think you're using words Wrong if you if you say that which is Why I went through the trouble of
Writing the threat up the way I did Because the words do matter here and They could potentially have legal Implications that's why I wanted to talk About this so you can let me know what You think if you think I'm wrong if You've got a compelling case uh I'm Never afraid to be proven wrong because I want to believe as many true things as Possible and I know that there are Things I believe that aren't true I just Don't know which ones they are or else I Just wouldn't believe them then so if we Can all continue to work together and Anytime I get something wrong I never in Mind in fact I appreciate being called Out as long as people are being tactful In that route because if it's just in The effort of us all as a community to Try and get to whatever truth is on Whatever topic we're being discussed Well hell yeah of course I want that not Afraid to be proven wrong in the least Here so if you again all that to be said If you've got an argument and you can Rip the shreds what I just shared here Bring it because I actually very Genuinely enjoyed a bit I don't like Arguments when people get their emotions They get their feelings hurt when they Got their their ideas challenged but uh Debates are actually fun and so that's Why I start off when I when I challenge Somebody's ideas in my videos you may
Have noticed that I'll uh I'll Frequently know hey just to be clear This isn't a personal attack and that's Because I know because I'm I'm 39 year Old man I get I've lived life people get Offended frequently when their ideas are Challenged so to stem that off I'm just Like hey here's an owl Branch to say no I'm not somebody that's just trying to Kick you in the nads I'm not doing Anything like that just I want to have Have a fun little discussion and maybe Debate here that's pretty much it but It's the reason I do that is not because I give a damn about their feelings Getting hurt because the way I look at It is if I'm being civil and I'm just Challenging an idea and somebody an Adult person is actually offended Because I challenge their idea what kind Of adult man child is that so if they Actually got offended I'd just be like Wow something's wrong so I it's not Because I'm so concerned about that I'm Not trying to just be some sort of People pleaser it's because I'm trying To facilitate like like a useful Discussion and I think it's more likely We'll have useful discussion if it's Known up front hey just so you know it's Not an attack I really do just want to Talk about this but if in somebody's Even just in the back of my mind like is This guy being a jackass this guy being
A dick I get it so that's that's why I Do that now again if anybody's ever Offended because I think that their idea Is wrong that's a them problem I just Don't give a damn I genuinely could not Care less if somebody's offended because I I believe something different than Them get the hell out of here I've got Time for the Manchild status stuff here So I'm being polite and civil to get to The end that I'm seeking which is truth That's it just to facilitate those Because I understand that humans can be Finicky we all have emotions people can Misread uh circumstances and responses I've done it before in my life too I'm just aware that I can do that and You can do everybody can do that so I Try and catch myself if I start to feel Like that in fact because it still can Happen I'm not I just this is something I practice doesn't mean I'm perfect at It but if I do start to go that Direction then I try to match It just chills though just like what is Going on here have a discussion and then Somebody actually does go into attack Mode and you can see they're not just Operating good faith well okay that's That's one thing but if it's somebody Genuinely operating in good faith They're trying to charity as well come On so anyway I've never ever explained That before and I wonder if some people
Have thought why do you even do that It's like it's like you're just being Wimpy man I just wonder if anybody's Ever thought that that's not the reason I don't give a damn what The Man Child Thinks you know if there's a man child In any given situation which is not what Happened here but I'm just saying I do Not care if you get offended if you're If you're so weak you know from from uh You know like a mental perspective like That's you thing but it's not going to Stop me from discussing things that are Of interest and importance to the xrp Community that's it so since I've never Described that why I do that ever in the History of the channel I just thought What that I'll just take a few minutes To explain it I'm gonna wrap up here though I'm not a Financial advisor you should not buy or Sell anything because of anything I say Are right that would be a very very bad Idea until next time to the Moon family Sedan
