Ripple/XRP-FTX Debacle, Flare Battle, SEC Sues U.S. Crypto Exhcange

COINTRACKER:10% OFF Track Your Crypto Taxes


Digital Perspectives Mastermind Group:

Private Investing Made Simple: Ripple, Uphold, and More!

The #Gold Based Alternative To Banking #GoldFi

0% Trading Fees
0% Withdraw Fees
0% Deposit Fees

Ledger Nano Hard Wallet:
Ledger special offer link:

Help Protect Your Identity Online

Protect yourself from the IRS with CryptoTaxAudit Membership
CryptoTax Audit Link:

SAVE $150 on Each 3-Month Emergency Food Supply

Open AN IRA With Grow Your Crypto TAX FREE

The Drudge Report Of Crypto
FREE Newsletter:


CryptoLife Gear
The Best Way To Show Family And Friends Your Love For Crypto
10% OFF The Hottest Crypto Gear On The Planet: “CryptoLife”
Discount Code: BRADK

Contact Digital Perspectives:

Digital Perspectives Podcast:

Free Digital Perspectives Newsletter:

BEWARE of Scammers:I will never ask you for money on Whatsapp or any other platform.DO NOT CLICK ON ANYTHING,COMMENTS or EMAIL that claim to be me or my channel. Please report all Scammers and IMPOSTERS to Youtube.

Please Note: #Ripple #XRP #Bitcoin #Crypto #Cryptocurrency #Paid #Promotion #Sponsorships – The above links are either affiliate links and or paid discounts and deals. This channel is compensated for the above links

Disclaimer: I’m not a financial advisor. This is for educational purposes only! Do your own research. Never make investments based on information from me or anyone on this channel. Always consult a financial advisor before making an investment decision.

#cryptocurrency #bestcrypto #investing #bitcoin #ripplexrp #xrp #ripple #xrpnews #ripplenews #priceprediction #crypto #cardano #endofyear #altcoin #eth #ethereum #BTC #R3 #Billion #Trillion #trading #investing #Digital #Asset #Investor #KevinCage #moonlambo #prediction #price #Tezos #XTZ #LINK #Chainlink #DeFi #Decentralized #Finance

Welcome back to the show everybody check Out these headlines this morning the Flare battle continues we're going to Talk about it Goldman Gensler ladies and Gentlemen speaks on enforcement for Cryptocurrency as the SEC sues a U.S Exchange we got that and so much more Somebody rolled that beautiful intro Digital perspective Specs with bread kinds come on in Welcome back to the show everybody you Can follow us on Tick Tock YouTube and Twitter for exclusive content make sure You give us a like And subscribe 922 Billion dollar market cap for crypto It's up 3.2 percent Bitcoin now 18 900 Up 8.3 on the seven day ethereum just Over 1400 bucks it's up 11.4 percent Tether market cap they say is 66.3 Billion xrp right now at 37 cents ladies And gentlemen up 6.5 take a look at this It is the end of year it is the Beginning of year it is the end of tax Year 2022 and if you're not sure what to Do about your crypto check out coin Tracker and also have a link for Clinton Donnelly as well below crypto portfolio It is the best way to track your Holdings on the different exchanges you Can link them up safely I've been doing This for a year now actually almost two Years You can link your exchanges up and be Able to track your earnings and losses

And be able to print out a very very Detailed simple report for your Accountant as well make sure you check That out and it's ten percent exclusive Off for you guys right now if you click That link look at this eight major media Companies including Bloomberg Financial Times and Reuters have demanded public Disclosure of the two individuals Responsible for guaranteeing FTX former CEO Sam bankman Freed's 250 million Dollar Bond I don't think there's any Reason they should be hiding the names Of these individuals there's no question About it we will keep you posted they Should release that information Somebody's got a lot of money riding on SBF to put up that money like that Take a listen to this Sam bankman freed Has released a written statement Detailing his account of FTX and Alameda Research collapse including Approximations of each firm's financials Before it took place as you can imagine It doesn't implicate him at all Yeah the document runs through the FTX Pre-mortem overview oh so nice of him to Give us such a detail of you he says in Early 22 bankman free believed Alameda Roughly held a hundred billion in net Asset value however Only seven percent of which was Considered to be liquid by November 10th However the firm had just 11 billion in

Assets left and only three billion Dollars of which were liquid Oh boy this triggered a wave of Contagion comparable to the collapse of Three arrows capital in June Much of which was felt by FTX due to Alameda large margin position on the Platform nevertheless backmanfree Claimed that FTX still held 8 billion in Assets of varying liquidity before he Stepped down as CEO Furthermore another 4 billion in Potential support had reportedly been Tabled by other groups in the form of Signed letters of intent though he Believes these Pathways have been Abandoned ftx's lead new leadership Even now I believe that if FTX International were to reboot there would Be a real possibility of customers being Made substantially whole he said oh boy Yeah that that that's uh I don't want to Go to jail they don't have video games There Bankman freed has been widely accused of Committing fraud and theft together with Alameda research co-mingling user assets At FTX with alameda's trading funds FTX New CEO John Ray who oversaw enron's Bankruptcy testified as much in front of Congress in December as we all covered Here on the channel and saw while Microstrategies executive Michael Saylor Has claimed the same on multiple

Podcasts Bankman free denies any such claims but Here's the problem ladies and gentlemen The problem is is Alameda CEO Caroline Ellison and FTX co-founder Gary Wang Have each pled guilty to defrauding Ftx's investors in collaboration with Sam bankman freed oh the plot thicken Sam you can write all the letters you Want but this is a problem when you got The other two people that were working With you to do exactly what they said Fraud right so here we go now to the Next uh area here which is the general Idea over time leveling the playing Field for all of us incentivizing Non-air drop participants to engage in The network when it comes to Flair's Airdrop and the 15 percent that are Delivered and dropped to everybody who's An xrp holder and then the 85 percent is To be determined as we go forward now With that being said this was all really Due to a backlash of comments coming From David Schwartz I want to cover this Because I covered it yesterday but I Want people to understand exactly what's Being said here because it's complicated For me there have been so many changes And he speaks to that here he basically Says you know uh you know he says I feel Bad saying this I love the project and Want the best for it and what to believe It's the best uh the best about it but

His honest opinion is that they leverage The xrp community to grow and weaken Their promises drastically when they Felt they didn't need it anymore That said that doesn't make them Dishonest or make their project a bad One xrp evolved and didn't keep some Promises made in the early days You can love Flair and love xrp too it's Not one or the other and I do agree with That but I don't have happy fuzzy Feelings about how it went down and that That honestly is really where I've been With all of this back and forth and back And forth right and and it just leaves You very confused and kind of uneasy About how this thing will take off and I Hope that it does extremely well also However Hugo does come back and says We've been completely clear about our Reasoning for that uh implementing the Fipo one and it says here that it puts New entrants on an equal footing in Which in his opinion is a must going Forward if flare is to have a chance of A real reach its potential from The Proposal in other words saying basically That uh we want to open it up to where People who didn't get the 15 could Participate and feel excited about it as Well the overall point from David or one Of the overall uh points is is that Basically he was saying you're creating Inflation by doing what what is being

Done with Flare Network so then he says Here to response to Karen Kelly shout Out to him for the question simple Answers please I've got a little brain Room this week he said I think xrp Community were promised an airdrop one To one over a time period 15 initially Does the xrp community still get it Automatically or must they now wrap the Flare to get the remaining balance he Says here There is no remaining airdrop balance Anymore you just get the 15 if I promise You two cows I can't give you one and Tell you to get it pregnant for the Remaining balance that's about as Straight ahead as it gets right there so Look I I I hope that flare gets off the Ground and does well going forward it Does have me uneasy about how it's all Come to be and the moment we're in now But that doesn't keep me from you know Accepting my Flair it doesn't keep me From knowing that I'm going to stake my Flare so you know all of this is really Like cautious optimism is where I'm at At this point and I really do hope for Its success and I do hope also to Hugo's Point that we see a larger base of People want to come in and participate In the network as well so we'll keep an Eye on that now let's pull back and go Macro here because the right side of the Aisle in Congress is taking the position

The moral High Ground here and it's an Honor to be selected it says congressman John Rose For the House Republicans conference to Serving on the financial committee it Says under chairman Patrick Henry's Leadership we will hold Rogue Biden Officials like SEC chair Gary Gensler And cfpb director uh Chopra accountable Okay well you know what we got to see it To believe it right and then they're Also saying there will be a new panel Focus on issues related to digital Assets Financial technology and and Financial inclusion and be chaired by Arkansas representative french hill and Ohio representative Warren Davidson Serving as Vice chair now that's Something Warren Davis has been talking About a lot a lot is putting together a New age not agency but oversight for the Crypto Asset Division so now this is Gary Gensler basically bragging because What they've done is this is exactly What John Deaton has told us and we were Aware of it too right SCC is going to Sue a U.S exchange hello it just Happened Here it is Goldman Gensler the SEC Charges Genesis and Gemini for the Unregistered offer and sale of crypto Asset Securities through Gemini earn Crypto intermediaries need to comply With our Securities laws this protects

Investors it promotes trust in markets It's not optional it's the law oh boy I Tell you Here it is there it is right there right And this is even more disturbing if you Trigger easily don't watch it because I Got to give you this I want to give you The there look there's a lot in this That I want to give you but I want to Take you to a heart of this where he Gives the plan and it's exactly as we've Talked about here on this channel you Know Gary genzer intends To show you the runway and what they're Going to do and I've talked about this Plenty on this channel They the the crypto Market does not Mirror the conventional trading markets Like the New York Stock Exchange you and I do not go to the New York Stock Exchange to buy apple or Tesla stock or Amazon or what have you you go to a Broker dealer The broker dealer does not custody that For you either the broker dealer is not Allowed to run a hedge fund alongside of The crypto exchange either you know some Of these things are not wrong but you Know the problem is is the lack of Clarity that because now they've sued Gemini over this you know what's coming Next is that other exchanges are going To start delisting they're going to Start stopping earned programs things of

This nature but let's take a listen to What he says in this clip right here as He Maps this out In 2023 what are your goals for Regulating crypto next year I've got one Goal is that These Platforms the exchanges The Lending Platforms come into compliance they can Do that appropriately working with the SEC Or we can continue on the course with More enforcement actions and I would Have to say that the runway is getting Shorter Oh boy and let me bring you to this now Because this is where he really shares The plan and what they're doing and it's Exactly what we've talked about on this Show take a listen as this clip runs Here and On their platforms providing interest Returns To their customers and then trading Against their customers and the like Basic Protections in our Securities laws For 80 or 90 years apply to this field As well and so it's really on them We've been clear We can use some exemptive authority to Tailor things as you said earlier but It's not to drop the basic protections Of separating out these businesses into A separate Exchange

And again I remind the public we don't Let the New York Stock Exchange also run A hedge fund and trade against customers Separate out a separate broker dealer Separate out separate custody function And really Use the time tested rules of the road That are on the books so it's kind of up To them Or will be of course following as we've We've given good advice to each of these Agencies around crypto lending actually The way it's organized is often similar To a mutual fund you're you're Collecting up the Public's funds You're offering a return to them So come into compliance there you have It I mean he's telling you right there That that is a Securities framework Ladies and gentlemen and I don't see Anyone stopping him but I see a lot of People talking about it and listen I Don't hand out trophies until it's time To hand out trophies right so they can The right side of the aisle can talk all They want and I'll be happy I'll be the First one to celebrate them if they get This guy gone because they we need Somebody that could easily be in there And say we have posted on our website Exactly what you need to do to be in Compliance if you don't fall in line With these bullet points that we shared We're coming to get you now that to me

Is the way a leader should lead right Pretty obvious but let me give you this Other little clip here where he brags About a case that just got a ruling in The favor of the SEC yes it is a case That John Deaton is a friend of the Court on it's the library case take a Listen and and books and Records Violations as you talked about earlier And yes we have a robust enforcement History in the crypto space I think over A hundred actions a couple dozen while I've been here as chair against crypto Exchanges against crypto lending Platforms against of course tokens we Had a very big win recently in a case Around a crypto token called Library Unfortunately for the investing public The entrepreneurs in this field have Chosen and it's a choice they have Chosen to try to skirt the law whether They're setting up overseas And they're servicing overseas actors That's for other jurisdictions that's For other Regulators around the globe But if they're tapping into U.S markets They need to come into compliance there You have that ladies and gentlemen now He did mention They do have the power to issue Exemptive orders in some cases right Well I got to tell you all of this Action all of this suing the U.S Exchanges take a look at what Hector

Lopez says right here because I think he Nailed it Here is an actual clip a screenshot Of the Securities Exchange Commission Complaint against Genesis Global capital And general Gemini Trust Company and I'm Going to read this to you here through An invest in the summary through an Investment opportunity to defendants Called Gemini earned program investors Tendered crypto assets to Genesis and Exchange Genesis promised to pay Interest on those assets to investors Through this unregistered offering Defendants raise billions of dollars Worth of crypto assets principally from U.S retail investors well is this not Exact same thing that proof of stake in It is in ethereum See this is the rub right it always Keeps coming back to East Gate it always Keeps coming back to the free pass What will Gary Gensler do will he show Us that he has just a strong hand for The entire Market including ethereum and Their unregistered Ico Time will tell not Financial advice from Me or anyone else just my digital Perspectives buckle up ladies and Gentlemen I think this Market's going to Find a new low not Financial advice just My digital perspectives I'll catch all Of you on the next one


Get Daily XRP & Crypto News!

We don’t spam! Read our [link]privacy policy[/link] for more info.


Get Daily XRP & Crypto News!

We don’t spam! Read our [link]privacy policy[/link] for more info.

You May Also Like