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Welcome back to the show everybody well We're going to hear from Fred RIS Poley And John Deon and even Jeremy Hogan Exactly on all of the things Ripple and Damages and remedies somebody rolled That beautiful [Music] [Applause] Intro digital perspectives with Brad KES Come on In Welcome back to the show you can follow Us on Twitter and YouTube for exclusive Content right now $1.44 trillion market Cap for crypto the market is up. 3% 36,000 slightly over for Bitcoin right Now just over $2,000 for ethereum 87.2 Billion plus for tether market cap Watching that closely 63 cents for xrp And it is not dazzling anyone this Morning we are off by 2.8% on the 24hour And off by 7.9 on the 7 day the range of Price right now is between 66 and 61 Cents so I guess we better thank our Lucky stars were not down at 61 where it Ranged overnight so let's get started Right now so ladies and gentle if you Haven't done it join us in the freedom Zone where we're tackling all of the Different things happening here eth gate Whistleblower comes forward I'm telling You you need to join all of us in here For the incredible conversations you Won't believe it and tackling many other
Things that are not topics that we could Feel comfortable touching on social Media so if you want to get down into The nitty-gritty in here and have fun With all of us all you got to do is join Underneath and click the link to dig Perspectives and join us in the freedom Zone now let's get started here this Morning we start right here we know Black Rock news about the xrp ETF is it Fake is it real is it real is it fake What's going on here well Black Rock News posted this and this was 13 hours Ago as we confirmed yesterday Black Rock Has not filed an ishares xrp trust we Have escalated this issue with the Delaware Division of Corporations now What's interesting about this is is That's from Black Rock news that's not From black Rock's direct Twitter post as You could see actually down uh let me See I had here it is right here shout Out to xrp Mimo here uh this is not Black Rock directly but that is what we Have the lat So far so you know is it real is it fake Why does it take so long for Black Rock To respond directly from an official Site I don't know the answer but the Reality is if it is fake then why in the Hell haven't you created an xrp trust Xrp is the only digital asset with legal Clarity what in the world are you Waiting for there we have that so let's
Keep moving here Jeremy Hogan shared the Schedule here as we got from James fand Shout out to Jim for that and we Understand that the final briefs in April means a final judgment in July but More importantly look at the case Heading and see how it was Whitted down As we talked about yesterday and the Only thing in question now is Ripple Brad garlinghouse and Chris Larsson have Cases have been dismissed with prejudice And they should have never been brought Against two of those individuals to Begin with but nevertheless we see what The price of hiring top lawyers can do Here and what will be be what will the Case be down to by the time we to July Jeremy asked and that's such a great Question here and this was a comment Here from Fred RIS pooy we covered this Yesterday but you know what you're about To hear me sit down with Fred because This spurred me to reach out to Fred Because Fred said this timeline means no Chance of an appeal would be issued Should there be an appeal before mid 2026 by the second Circuit Court the July 13th ruling from Judge Torres that Xrp in and of itself is not a security Is Ironclad for a very long time well Let's not waste any more time because We're going to hear from fredis poy and Then we're going to hear from John Deon As well and I want to bring you in on
This at about this Mark right here and Shout out to Fred for this and let's set This up and let this roll because Fred Has a lot of really great insights that He's going to share about this case and Let's hear him talk about it right now With that being said we don't need any More points on verifying the schedule is For the damages of the SEC versus Ripple So tell us about that in your thoughts Because I thought you just had some Wonderful remarks and insights yesterday To share oh thank you so you know just I'm sure everybody who watches your Channel knows that the scheduling came Through for the remedy section of the Lawsuit they didn't do a lot of Discovery on this in the whole three Years that this litigation has been Going on because you know the the Thought process was we're going to wait To see how all these legal rulings on Liability shake out before we do damages They they agreed to that earlier on and So now we're going to do Discovery it's Just the same thing everybody saw with How Discovery went up until the summary Judgment motions but now for remedies And damages you know and money only and So if you think that you don't have to Worry about anything until the first Filing is due in February of 24 you may Be right but you're 90% likely to be Wrong because there's going to be I
Think a lot of Discovery fights between The SEC and ripple you know in terms of What they're allowed to use what the SEC Is trying to get from a uh business uh Business information from Ripple so I Think all those fights are going to Still happen um and so you'll see the Motions to compel you know all sorts of Of Motions like that um and I'm going to A couple couple of details where I think We're going in terms of you know the Magic uh settlement word and everything But in terms of the timeline the reply To these motions are the final reply From the SEC is due April 29th 2024 so that's when the briefing will be Over and the judge will probably take Two to three months minimum to issue a Ruling on that so now we're at end of August September 2024 once that ruling comes out you know Either SEC or Ripple will probably file Some uh post remedies motions or some Other you know let finalizing the Lawsuit so it's all ready for a final Judgment that'll take a couple more Months so you know I don't think anybody Files a notice of appeal until early 2025 maybe even like February March 2025 The Briefing schedule for that you Know will start in the summer or fall of 25 that'll go through the you know um I Think the briefing The Briefing will be Done somewhere in 25 and it takes a year
A year and a half for the second circuit To issue a ruling so that was the Explanation of my post on X which is You're not going to see if there is an Appeal this all presumes there is an Appeal um you're not going to see a Result from that until mid 2026 and you know it could be great for Ripple it could be terrible for ripple The bottom line is think of everything That's going to happen you know in Between now and then we're going to have A uh uh different president or the same President in a different term so you Know it's and you know another two years Going but there's just so much that can Change that you know makes you realize Ripple is safe xrp is safe in terms of What that January 13 2023 ruling was From Judge Torres that we all celebrated Um that is safe until 2026 so I mean It's almost in terms of everything that Could happen between now and then Legislation Wise Legislatively It's you know it's a lock You know you can plan you know with with Certainty for it and so now it's to the Banks to other financial institutions That they have the courage to now begin Using it if they're going to we get to See all the talk and hype about Partnerships this that and the other is It real is it going to start happening There's no good excuse now for it not to
Happen from a litigation perspective I Mean you have to be super conservative Uh I mean even more than your typical Bank um to really be scared about this With where we are in the legal landscape Oh it's so well said and and I feel like You know when you think about December Ripple and uphole going live to service Businessto business payments on the Backside of uphold and knowing that both Of them have already done that and They're about to do it together in scale To the point that you made about the Decision from Judge Torres being Ironclad and going to uh what Brad Garlinghouse has said that the bank said To him that the OCC is leaning on them To say don't fool with this stuff until We tell you two Paraphrasing um I feel like that uphold Ripple relationship can actually give Them that workaround that Nexus so to Speak for them to begin to start to use It under these circumstances even though We still have the case possibly like you Said regard you know with you know if There's no settlement or whatever until Then if this is all still ongoing then You have this all really happening and Taking place underneath This legal dog Leash that I believe is really kind of By design that it's happening to make Sure that for the first time in the World this what I believe to be a non
Non government non-state backed money is Truly being introduced inside of the Financial system to complement the Financial system and not challenge it And that's kind of what I see happening Today Fred any uh final thought here Yeah I I agree with you uh 100% you know To me the issue is who's going to be That winner you know and I don't think It's one person but I think it's uh Going to be a handful and is Ripple as a Company in that Winter Circle is xrp as A digital asset in that Winter Circle You know I'm betting that it is both That Ripple and xrp are going to be you Know it's not set in stone but I think The odds are higher and and the Probabilities in that favor but yeah I Mean everything is transitioning if you Just look back at world history you know This is how everything starts it's very Difficult to uh I know everybody loves Flip the switch but it's very difficult To actually do that that especially as The world's become more complicated and More interconnected and you know these Things take time uh uh you know I always I haven't uh I don't know if he's put it Up in a while but Dai I like two or Three years ago there was a a PowerPoint From some company where it had like the Timeline and I think this so this is in 2020 2021 where it's like and then Ripple xrp will really you know I'm
Paraphrasing but hit its stride in like 20 425 and I'm like I'm not waiting till 2425 that's ridiculous it's not going to Take that long and then you know Obviously here it is so I forget uh if Anybody in the comments knows which uh Which PowerPoint that was that's a That's an OG uh remembrance right there But you know it takes time I I think You're right um that it's gonna happen And and you know hopefully xrp and and Ripple are in that one yeah I believe You're referencing the NT data uh Consultant timeline that existed that We've all seen for so long okay so you Remembered it right off the top of your Head yeah it's kind of a curse right you Know what I mean I got it you know but But it is falling in line with that Timeline which is pretty remarkable Because I remember feeling the same way You did in 2017 and seeing that stuff And going ah it ain't gonna take that Long yeah but you know really were like We really underestimated that yeah well And as so often people do right they Overestimate what could be done in a Year but they underestimate what can be Done in five years right or 10 so yeah Uh it really is the truth Fred I want to Thank you for what you're doing and uh By the way hasf freed the guy did Nothing wrong you know silenced on Twitter so hopefully he's able to get
Back soon and I encourage everybody to Keep that trending on X so we can Hopefully get the attention of the right People and get him back where he really Belongs the community needs him exactly Free Dei amen No Doubt about it we need him Back he's so much fun hey Fred you are Too and thank you to you John Deon Jeremy Hogan Bill Morgan and all Jim Filin and all the other incredible Attorneys if I forgot your name please Forgive me but we would be lost without All of you so thank you so much for Taking the time with us today oh I Appreciate it and thanks for having me On the show I'll talk to you later Absolutely and as always we'll see you At xrp Las Vegas 24 my friend because I Know that there gonna be a karaoke night And Fred RIS poo is going to be leading At the helm right I will be there and I'll be Ready all right so shout out to Fred for That always a great hang getting to Catch up with him and now we're going to Hear from this guy this guy right here You don't needs no introduction we know Who it is it's the goat baby it's John Deon himself let's get him right here Where he talks about what that would Look like as far as damages go and how Ripple will probably pay a significant Amount less than the 770 million in
Institutional sales that the SRC SEC is After and he goes if it doesn't covered In this clip I just want to set it up Before we hear it really quickly here uh He talks about the fact that the Majority of the sales are outside of the United States so then you can't count Those sales so that's 95 plus percent so Now you're down to like 30 some million Right out of the 770 million they were After then you have to deduct net Expenses from the business right and if You're able to deduct lawyer expenses Which he's not sure of then you're into The negative and it could be a situation Where you're like wow we don't pay Anything but take a listen to this clip Here and shout out to John Deon for this Are we lucky as a community to have Access to these people or are we lucky I'm I'm telling you uh we're so grateful For all of them going to wrap up but I Think what's going to happen is the same Thing in the Li Library case where at The end when the SEC got $130,000 fine now I'm not saying that Ripples will only be 130,000 I'm just Saying in library ultimately the SEC Bankrupt a company in a nonf fraud case Spent millions of taxpayers money and Got a $130,000 fine from a company that Never committed a fraud MH never lied Never Misrepresented never hid information and
Cooperated yep um and so when we turn to The Ripple case whatever the ultimate Number is when it will be less than what Ripple paid in attorney's fees I'm going To make that prediction comfortably and Confidently I'll come back I'll admit I'm wrong I've done that before I'll do It again if I'm wrong I'll get back on Live stream and I'll say hey got it Wrong wrong um but I'm going to predict That Ripple's 150 million in legal fees That they won't have to pay that much And it's going to make everybody sit Back even the the people that are Against Ripple or they're not Ripple Fans are going to sit back and say my God are you telling me let's say Ripple Pays $10 million all right just pick a Number let's say it's 20 million are we Going to say that three years of Extensive litigation Hundreds and hundreds of millions of Dollars lawsuits from retail investors Against the seccc all the damage that's Been Done with on this case and that's Ultimately what Ripple pays a fraction Of what they end up paying to defend Themselves while Sam bakeman freed was Running Ram While Alex machinski was running Rampant while the voyagers blockfi and Everything else that was transpiring in Crypto where we needed the SEC where we
Needed a cop on the beat to actually Protect Investors while all that was Happening this is what they were doing The libraries and the ripples of the World It will disgust most people I believe And even someone who isn't in crypto Will sit there and be like Wow you went Through all of that just for that result That seems like a colossal waste of Resources and a diversion of attention On the wrong people right instead of Working against the bad guys you focused On people who were trying to do it right You claim they got a couple things wrong And ultimately you accomplished what and That's where we're going to end up with And so what a remarkable point and what A Despicable thing for the SEC to do What they did to the library case and What they've done to Ripple and so many Other good actors for coming in to see Us right that's the price they paid for Trying to do it the right way and coming In to see us uh this is where we are on This day ladies and gentlemen and I just Want to leave with this note uh from Fred and John Deon here what I see is a Decision that xrp in and of itself is Not a security and it's Ironclad Decision and no matter what happens in The Ripple and remedies and and in this Damages phase when they get through it
If the SEC decides to do some kind of Appeal which let's not put anything past Them because we know how Despicable they Are as an agency right so if they come After them you know I have to believe That the the ruling from Judge Torres is Now acting like a force field an Insulator a bubble around xrp while the Rest of the crypto space is about to be Dealt with on the same level of attack I Believe that they have just witnessed Themselves from the secc and other Agencies and how look it's so funny that This thing started out as a curse and a Weapon against us and is now serving as An insulator because now we've gone Through the tough trial taken the high Road and gone that tough journey and we Are at the top of the mountain and we do Have Clarity and we do have protection Because of that clarity through this Crypto winter which is not over yet That's going to do it for me not Financial advice for me or anyone else I'll catch all of you on the next One