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Welcome back to the show everybody check Out these headlines SEC versus Ripple And they want $2 billion as a fine well We're going to hear from steuart Alara Brad garlinghouse and many other lawyers In this space about exactly what to Expect somebody roll that beautiful [Music] [Applause] Intro digital perspectives with Brad KES Come on in [Applause] Welcome back to the show you can follow Us on Twitter and YouTube and dig Prospectives decom for exclusive content Right now it's $2.8 trillion market cap The market is for crypto is up 4.8% in The last 24 7,300 Plus for Bitcoin right now hello And 3600 Plus for ethereum 103.5 billion Plus for T market cap 63 for xrp and It's up 1.1 on the 24hour and 7% on the 7 day and just moments ago it was up 8% On the seven 8.1 on the 7even day at 64 Cents and it is 64 cents uh actually and It just slipped just under right now so We'll keep an eye on it but as high as 66 cents overnight so we will keep an Eye on that but I do want to tell you We're down to 37 days and 14 hours yeah Get your ticket to xrp Las Vegas I'm Going to tell you uh this is going to be A remarkable time and by the way uh get Your room discount because that discount
Is going to end very soon so make sure You get your discount at MGM Grand stay Right on site they got the best Restaurants the best entertainment you Name it walk right to the conference From your room it's going to be Incredible so make sure you do that and Get that dinner and have private dinner With Brad garlinghouse and support the Digital Chamber of Commerce all in one Fell Swoop so don't don't miss it by the Way uh breaking news John Deon running For Senate as we know he needs our help If you're able to give anything $10 $20 Whatever you can do Let's help him get The money he needs to unseat Elizabeth Warren and stop the crypto ban that She's trying to put into place and let's Get this other piece of good news Breaking news right here yesterday Afternoon Greg kid formerly of RI Now running for Senate in Nevada's Second district is going to be on stage At xrp Las Vegas baby Greg kid a Brilliant mind seed investor in Twitter And many other projects early guy Executive at at Ripple former Federal Reserve official this guy I'm telling You this is going to be an Incredible incredible incredible time on Stage and he's going to be on stage with Us and we're super excited to have him And listen we need to support the John Deons and the Greg kids that are going
To get into this uh fight on Capitol Hill and represent our voice so make Sure you get your ticket and come to This conference I'm telling you this is Going to be Remarkable let's take a look at this uh On Monday's Ripple top legal executive Steuart Adara disclosed that the Securities Exchange Commission is Pursuing a mass $2 billion in fines and Penalties against Ripple Labs here's the Actual filing itself shout out to James Fing here motions for remedies and enter Entry of final judgment it's memorandum Of law in support of that motion and its Proposed judgment looking for the two Billion in fines and penalties here well Well let's go through the cycle first Stewart Alara says as you will see when The sec's brief is made public tomorrow They asked the judge for $2 billion in Fines and penalties he goes on to say Our response will be filed next month But as well as as but as well as we have All seen time and again this is a Regulator that trades in statements that Are false mischaracterized and designed To mislead they stayed true to form here Rather than Faithfully apply the law the SEC remains bent on wanting to punish Intimidate Ripple and the industry at Large we trust the court will approach The remedies phase fairly and I do too Because judge Torres got it right the
First time around so let's hear from Brad garlinghouse here says the SEC Plans to ask the judge for $2 billion in A case that involve no allegations let Alone findings of fraud or recklessness There is absolutely no precedent for This we will continue to expose the SE For what they are when we respond to This wonderful wonderful and I say the SEC really is an agency that doesn't Embarrass very easily the SEC asking for $2 billion in fines in the Ripple case Is akin to a bank robber the SEC caught In the bank and surrounded by cops but Somehow have the unmitigated G to demand A helicopter pilot with a duffel bag Full of cash and unmarked bills to meet Him on the roof I guess it's not enough To smear a good company's people's names And reputation through the mud like Chris Larson Brad garlinghouse and Ripple themselves as a company but guess What SEC is not going to Happen not going to Happen Brad garlinghouse further adds Here Gary gendler's SEC has repeatedly Acted outside the law not going Unnoticed by judges admon in in the Agency for gross abuse of power Entrusted to it by Congress debt box Case and for acting without faithful Allegiance to the law Ripple case let's Not also forget gender's lack of Attention to Sam bankman fraud how about
That one that's a nice one go Brad Garlinghouse Chris Larson chimes in Gensler's SEC has become unhinged this Will not and should not go unno in an Election year as the SEC single-handedly Thinks it's above the law dragging the Us further behind other G20 countries This is exactly on point all of this Every bit of this and so is this shout Out to Fred risoli I think he's coming To xrp Las Vegas too this guy's a lot of Fun and super smart the sec's motion for Judgment has been publicly filed too Long didn't read the SEC is filing The Playbook I outlined two months ago but Let's go through it Here legally not much in here that we Didn't already guess factually this is Very important Mo uh motion I'll take it From what I think is the most important Least to least first credit to SEC it Realized that it needs to show how Investors were actually harmed and then It goes on to say here have already said The sec's motion is full of Mischaracterizations let's hope that it Is correct because the picture painted Is not a good look for ripple and lends Credence to the xrp haters on why the Price is so low namely the deep Discounts by Ripple on xrp sales on page 18 numbers are redacted but if discounts Are wide enough then institutional Buyers like GSR scored unbelievable
Discounts and have bags upon bags of xrp That they could continually sell at Astronomical profit if accurate retail Buyers continue to be the liquidity I Really really hope Ripple has a good Explanation for this because otherwise It plays right into the major fud Happening right now second Ripple is Continually selling xrp post complaint And post summary judgment no surprise But the SEC claims the financial Discovery it received by court order Demonstrate this is by far in way Ripple's primary source of Revenue and Ripple is still signing contracts with Institutional buyers 80 contracts since The complaint and sign significant Number since the summary judgment ruling Which is good for ripple third the Motion will determine where odl falls on Whether unlawful sales or permitted sale Uh Stakes are very high here and we have To hope Ripple has sufficiently changed Its business practices to account for Torres's ruling fourth I thought Ripple Was in the low 40s or so high 30s in Billions of xrp but it has more like 45.7 s billion Xrp fifth the SEC relies on library.com Comm a lot that case but their amount Sought by the SEC ended up being a small Fraction of what the SEC was granted at The same time it ended Library as a Company bottom line This motion is of
Enormous consequence and the pettiness Of the SEC leads me to speculate on the Two options on How This Ends one the Amount ordered by the court is low Enough and rulings on newly structured Sales favorable enough to Ripple that There is a final settlement after the Ruling I'm now putting this at 40% odds More likely is this will come out of Favorable to Ripple on the amount of Money owed but that Ripple takes a hit On what is allowed going forward meaning This is going to an appeal to the second Circuit court so we shall see how this Goes so now with that being said let's Hear here um this is a clip out of the Complaint and it says what's left unsaid By the SE is that they were originally Arguing that xrp is inherently a Security the judge ruled it's the Offering that makes a security Now the SEC is emphasizing the sale makes the Security but blaming Ripple for Celebrating what in context was a huge Win so look the sec's trying to move the Goal poost after the game is in the Fourth quarter that's what that's what The argument is Jeremy Hogan follows it Up here shout out to him he's going to Be at xrp Las Vegas virtual performance Appearance I should say summary of sec's Remedy brief how dare Ripple not gravel Before us instead of addressing some Very real legal issues it came across as
Petty and vindictive punctuated by Expost as evidence it had an opportunity To take the lead on some legal issues And didn't in my opinion he says and Here I want to show you exactly what He's talking about here here's evidence That was submitted by the SEC of Brad House when he surprised everyone at the Xrp Las Vegas for Our you know the first ever independent Individual xrp Las Vegas he decided to Show up and shake a few hands and take Pictures and they're trying to submit This is evident it's absolutely Petty And vindictive we know already what the Dealio is you know and uh I can't wait For this case to be over because if Anyone's been Petty are vindictive it is The SEC and it's not just towards Ripple It's towards this entire Space look right now we're going into The freedom Zone and we're going to deal With Central Bank digital currencies in The very real dark side of how that can Create massive control for a lot of Bad Actors and I hope you will join us for Almost next to nothing go to dig Perspectives. comom or the link Underneath this video and click the Freedom Zone and come on in not Financial advice for me or anyone else I'll catch all of you on the next One all
