Ripple’s Confidence In BEATING SEC Now At ALL TIME HIGH

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Hello this is Matt on the moon family Sedan Channel I wouldn't normally be so Bold as to speak on behalf of an entire Community on anytime But uh I'll go ahead and risk that right here And speak on behalf of the entire Community and stating that we are Absolutely disgusted by the behavior of The SEC and what we have learned about The way that they conduct their Operations everything we've learned over The two plus years that's and a lot of The stuff you know of course there's a Lot of stuff in the SEC Ripple case Sufficiently disgusting but all the Other stuff that we've come to learn About how they operate and and their Their motives their goals everything That we've uncovered that we might not Otherwise known if we weren't even in Crypto especially not in the xrp Community it's disgusting but let me Tell you something Uh the SEC has become increasingly Ridiculous audacious and bold in their Approach Increasingly uh read testing ridiculous Crazy novel ideas call someone a novel Idea in this case that's being generous Here it's this is an outright attack on Crypto so the good news is that in it Since they've been getting out of their Skis a little bit what's happening now

Is that they're getting tremendous Pushback in courts including in the SEC V Ripple case And I'm gonna I'm gonna share some proof So as much as you know I think a lot of Us have felt uh you know a deep decrease In confidence in the you know the Government you know that not that mine Was particularly High to begin with but I I think a lot of us have felt that you Know a decrease in confidence in Government agencies as a result of What's been happening the sickening Behavior of those monsters at the SEC But I I tell you this I think when it comes to the United States Judicial System it doesn't always Get it right but more right than wrong I Do believe that I very genuinely believe That and so with how out over the skis The SEC has gotten with their audacious Claims we're now seeing as all sorts of Cases really in crypto end up in court The SEC is absolutely getting the rear Size handle tube they are getting Swatted down by judge after judge after Judge not in every case but to a notable Degree considering that like to tout Their successor well it's not been a Good week for them and uh Brad Garlinghouse Ripple CEO pointed that out I've also got some comments I want to Share with you from Stuart alderati who Is Ripple's Chief legal officer but uh

Before going further I do want to be Clear I do not have a legal or financial Background of any kind I am not offering Legal or financial advice and you Definitely should not buy or sell Anything because of anything I say are Right I'm just an Enthusiast who enjoys Making YouTube videos about crypto Related topics but just as Abby and just For fun all right so here's a headline From the crypto basic Ripple lawyer says They grow more confident with each Ruling in SEC case and so the content of This article is derived from some Comments from Stuart all the writing and Ripple's Chief legal officer here and he Had some thoughts to share regarding the The judge Torres ruling the other day For the sake of this video I'm going to Assume that everybody's caught up to Speed because it'd be far outside the Scope of this video to go through Specifically what what happened there Other than what Stuart aldoradi Specifies here but my gosh yes it was Some really really good stuff and I made A point uh in one of my videos literally Yesterday and going through this this Content in great detail and I said look It's neither side got exactly what they Wanted but it looked pretty damn clear To me that Ripple got some major wins And any sort of SEC wins rather minor Frankly and it looks to me as though

Stuart Alder Rowdy seems to feel the Same and so here's what he wrote on Twitter Yesterday's opinion from the court on Ripple and the sec's proposed expert Opinions if you didn't read all 57 Pages Here's the tldr which of course stands For too long didn't read version Specifically not only is the sec's Expert on reasonable expectations of an Xrp purchaser Struck from the record but So is their expert who tried to say what Caused the price of xrp to change so of Course what he's talking about the first One there would be Patrick Duty That's the that's the jackass that Claimed to know uh because he just read Minds apparently he claimed to know Exactly why you listening to this Purchased your xrp And uh pretty gross stuff there he never Even in fact When it was uh under deposition he ends Up when pressed by Ripple's attorneys he Ended up admitting that he had never Spoken to a single xrp holder yet he Knew why all of us bought our xrp And of course that's important because You understand that uh you know if he Knows why we bought and he knows that It's because we have an expectation of Profit you know it's part of the Howie Test that's not looking so good for uh For all Ripple and xrp holders actually

But he knows why okay well judge said no To that one and then the uh the other One Was Dr Albert Metz that's who he's Referencing right there and this is the Guy that claimed that if not for ripple Xrp wouldn't have gone above I think two Cents or something like that I'm not Kidding you literally it the the the Dollar figure in this case Penny figure That's it was I can't remember exactly It was but I'm pretty sure it was right Around two cents I'm almost 100 certain Of that and um so he tried to explain That you know that all these these Movements in terms of expert price it's It's almost all because of Ripple and so Show him proven that people are Dependent except for the province that's Literally not true judge tossed that one Out as well and then Stewart already Says on the flip side and I love this Too because I didn't go as much into This into my video I was talking about This the other day but this is awesome Because if you look on the flip side uh What about all of uh ripples experts They didn't get swatted down so hard Check this out Stuart already says on The flip side our experts that explain How ripples contracts clearly differ From those in Howie uh tax treatment of Xrp not a security accounting treatment Of xrp not a security and currency

Experts on xrp not a security are all Allowed to stay in so folks the Strongest arguments the SEC had from Those expert Witnesses swatted down that Just says nope they're not admissible Can't use them and all of these highly Frankly crucial arguments made by Ripples expert Witnesses and she's like Yeah come on in Tell me what you got to say that is Fantastic and then Stewart says as we Have said throughout we have always felt Confident about our case and with each Ruling even more so Now you'd expect him to say that no Matter what because he's their top In-house legal guy but I believe that They believe that and I think they Should so we'll see what happens I don't Know for sure who's going to win here But uh what I am very optimistic for is That we're going to have uh you know Clarity for xrp and it's going to be to The positive Um and then there was uh oh also this I Wanted to cover this there was an Article from a bitcoinist covering some Of this in Attorney John Deaton shared a Quote from this particular article Uh and I I love this so I thought I'd Just share it real quick but uh it reads As follows SEC lawyers tried to get Judge Torres to Bar John Deaton from Participating in the case in part

Because he revealed the name of their Expert witness instead she not only did Not ban Deaton but agreed with him that The expert should not testify on behalf Of xrp holders oh God I love that that Is so rich they tried to get because he He cited the name of one of the experts And by the way I'll mention this too John Deaton was not the first person to Cite the name the name was publicly Known John Deaton did absolutely nothing Wrong and then the SEC those assat Pricks they try to get him thrown out Because of that that is absolutely Insane while the judge isn't having it And not only is she not having that she Also decided that uh John Deaton is Absolutely correct and uh this Quote-unquote expert should not be able To test testify on behalf of xrp holders As to why they bought their xrp Suck it SEC here's a big fat eggplant Emoji for you then there's this headline Ripple CEO derides SEC says not so great Week for regulator and this is covering Um a tweet Um right here Brad Garland house says It's only Tuesday but shaping up to be a Not so great week for the SEC and then He notes uh this ruling meaning the Ripple lawsuit of course uh but also Voyager and grayscale so I want to catch You up to speed on what those are but I Wanted to highlight the degree to which

And this is why I cited at the outside Of the video it's like it's instilling Additional confidence uh you know in Terms of at least fine so not in the you Know the government itself on the whole But in terms of the United States Judicial System it's not perfect it Makes mistakes but I think it's more Correct than not correct and it's it's What we got it it works it just Generally speaking it's one of the Reasons I'm optimistic in regarding the Secp Ripple case because it's so clear It couldn't be more obvious that the SEC Is on the wrong side of History here so Whatever it takes even if I have to go To the Supreme Court even if we get a Bad ruling at the district court level With Torres okay Bring it you know Ripple's not going to Be backing down and to bring the point Home further this will just give you an Idea of how just completely egregiously The SEC is just just goes into Attack Mode uh but when when pushed back by Somebody that's got the cajones to Actually push back against the SEC which Also unfortunately requires a boatload Of money in these instances the SEC Lately hasn't been doing well and I Think this is just a demonstration of Them not operating in good faith there's Do they're bullies and they're doing Whatever the hell they want and so

There's this tweet this is from February 20th and I covered this at the time but This is also from Stuart aldorado he Wrote The SEC has lost Four of its last five cases in the Supreme Court thanks to the few that had The courage and resources to fight back Against the sec's bullying and clinging To stretch legal positions that were not Faithful to the law so folks I'm telling You judges are seeing that the SEC is is Engaging in tremendous overreach and bad Faith approaches when it comes to you Know enforcement of Securities actions And it doesn't mean that they're losing Literally everything But It's it the take the wins when we get Them right for sure Um and so let's talk about as I want to Talk about what Brad Garland house Mentioned here obviously touched on the Ripple case and I'm gonna have more to Say about that actually in my very next Video Um I want to talk about what the next Step is going to be because it might not Be exactly what everybody's thinking but That would be a whole big separate thing It's enough that I need to just have it In some video but let's talk about this Grayscale situation as well as Voyager Because again this is more of the SEC

Taking an absolute beating and oh my god It feels so good to cover this so There's a tweet from Attorney John Deaton on grayscale dating back to February 20th of this year all you need To know right now in case you're not Familiar is that grayscale is a is a Hedge fund a cryptocurrency hedge fund And they offer what they call their Grayscale Bitcoin trust and other Products to accredited investors uh Grayscale would love to be able to sell To you know people uh you know just in The general public on the New York Stock Exchange we love to sell that product There in order to do that you have to Get approval from the SEC and you could Have then a Bitcoin ETF you could Convert the grayscale Bitcoin trust Product into a Bitcoin ETF and then You'll have all this exposure so it Won't be just accredited investors That's a small percentage of citizens in The United States that could purchase it But everybody that can buy anything on The you know the NASDAQ or New York Stock Exchange wherever it gets listed That's a way bigger audience which means Way more action way tremendous monetary Gains for grayscale to get this it's Also good for crypto because the Investment vehicle so it doesn't require The purchasing of Bitcoin uh by the the People who are purchasing on the New

York Stock Exchange that's not how this Works you purchase if you want to uh if It were on the New York Stock Exchange For example you purchased the ETF the Exchange traded funds and then grayscale Has to back that with actual Bitcoin so That impacts supply and demand and then You have a slew of people just jumping In and purchasing it because it's at Their fingertips maybe they heard a Bitcoin but they didn't want to sign up For an exchange but then it's suddenly On this platform that they're familiar With so you can quickly understand why This is highly consequential but firm After firm after firm has been applying For uh the Bitcoin ETF for just years And years and years and the SEC Endlessly swats it down And so there are a lot of theories as to Why you know Attorney John Deaton and Many others talked about how and I've Talked about it about how perhaps it's Just you know trying to make sure that You're making way for the you know Incumbents from the Legacy Financial System to come and get it first because They weren't first to crypto you know Grayscale Pioneer this product and now You got the likes of BlackRock basically Copying the damn thing and you know that They're going to want to launch an ETF Bitcoin ETF in the future So what happened was with the most

Recent application this past summer Grayscale was requested from the SEC hey We want to be able to launch a Bitcoin ETF SEC said no again and that same day I think in a matter of hours actually Grayscale sued the SEC they already had The lawsuit ready they were anticipating Another Smackdown grayscale sued the SEC But things aren't going well for them in This case and so on February 20th John Deaton wrote If the court applies the Law with these facts grayscale will win The denial of a Bitcoin spot ETF after Allowing both Futures and short Bitcoin ETFs meets the very definition of Arbitrary and capricious under the law And then uh and this was literally Yesterday Attorney John Deaton retweeted His own tweet and added the following After listening to oral arguments I Remain confident in predicting a Grayscale victory over the SEC The judges asked on point questions and Was critical of the sec's reasoning or Lack thereof we all know the incumbents Don't want billions going into a spot Bitcoin ETF full stop and so what we had Just the other day at this uh at this This hearing Just a complete Smackdown of the SEC Look at this headline judges scrutinize SEC over denial of grayscale Bitcoin ETF And this piece from decrypt reads as Follows

Judges overseeing grayscale's lawsuit Against the Securities and Exchange Commission questioned the financial Watchdog Tuesday digging into the Agency's basis for denying grayscale's Application to establish a Bitcoin ETF The questions came during oral arguments In the U.S court of appeals for the DC Circuit overseen by judges SRI Services Nailed it Naomi Rao Rao that's Rao yeah Neil Is it Neo Naomi names are hard man The son of a names are hard Naomi Rao I'm gonna go with that and Harry Edwards All right I knew that one I knew that Harry Edward once again grayscale Initiated legal action against the SEC In June of last year after an Application to convert its grayscale Bitcoin trust into a spot Market Bitcoin ETF was rejected A core element of the sec's argument Delivered by SEC senior Council Emily Paris is that grayscale's application Lacked data necessary to confidentially Determine whether fraud and manipulation In the spot Market impacts Futures Markets in the same way but judge Naomi Rao said it seems the Futures price of Bitcoin is a derivative of the asset Spot price which moved together 99.9 percent of the time she said the SEC has not provided evidence that

Grayscale's claims are wrong Uh so there you go so the sec's argument In a nutshell it's like well it would Even be safe to launch a Bitcoin ETF and What about what about you know what can We expect in terms of protections for Investors in terms of price action and It's like you damn jackass you know damn Well that in terms of and it's true They're cited it right here you know in Terms of Futures price action the Correlation is 99.9 percent Why would a spot Bitcoin ETF not behave Similarly of course it will do and they Know this they absolutely know this and So here's a quote And this is from uh this is from the Judge right I think this is from the Judge here uh yeah here uh it seems like There's quite a bit of information on How these markets work together the Commission really needs to explain how It understands the relationship between Bitcoin Futures and the spot price of Bitcoin end quote on behalf of grayscale Former U.S solicitor general Don varilli Argued that the sec's denial of Grayscales application to convert gbtc Into a spot Market Bitcoin ETF Contradicted previous decisions giving The green light for futures-based ETFs To trade in the U.S He described the sec's denial and listen To this because the language used here

It's very similar to what attorney Deaton said he described the sec's Denial as quote the definition of Arbitrary decision making end quote Arguing that grayscale spot Market ETF Would pose the same risk of Fraud and Manipulation that currently approved Bitcoin products that trade on the Chicago Mercantile Exchange So That's this is just beautiful Smackdown when it comes to uh judge Torres's most recent ruling it's it's Very obvious if you if you've checked Out the content in or maybe you checked Out my video and I did a breakdown it's Very clear that it's a major win for Ripple and the victories got that the SEC had okay whatever they're not that Consequential and then you have this Smackdown Here regarding the grayscale Lawsuit and John Dean says it he thinks it's very Likely grayscale's gonna win and then we Have this this is the other one that Brad garley house was talking about SEC Snubbed as Voyager wins Court approval For sale to binance U.S bankrupt Cryptocurrency lender Voyager digital Has won Court approval to sell over 1 Billion dollars of its assets to binance Us The approval was granted by United States bankruptcy judge Michael Wiles on

March 7th which came after four days of Arguments presented by Voyager and the United States Securities and Exchange Commission Weil said he would give the Training platform permission to close The binance U.S sale and issue repayment Tokens to impacted Voyager customers Which would give them back approximately 73 percent of what they're owed Wiles Rejected a series of arguments by the SEC that the redistribution of the funds From Voyager to binance us would violate U.S Securities laws according to a March 7th report from Bloomberg quote I cannot Put the entire case into indeterminate Deep freeze while Regulators figure out Whether they believe there are problems With the transaction and plan end quote And so there you go yet another Smackdown and this is why I'm saying Like yes the SEC is absolutely Horrendous it is disgusting full of at The top anyway in terms of the Leadership disgusting despicable humans Absolutely unquestionably the case but Doesn't it give you a better confidence In in seeing that the judicial system Here is doing what it should be doing And yeah king of bad ruins you can look At what happened with library but you Could also argue that's you know they Didn't really have the best approach and They seeded you know a couple prongs of The highway test so you know had it been

Run differently would we have seen a Different outcome Uh there's always the what-ifs I suppose But I still think that mostly what Should be done is done And and so it just let's just take the Wins when we get them and recognize the SEC is getting swatted down on the Supreme Court they're getting swatted Down here and the attacks are increasing They're getting more bold uh you know They're trying to take jurisdictional Territory that Congress did not seed to Them which is unconstitutional and as a Result of their undeserved boldness They're not getting slammed in court by Judges damn straight As it should be I'm not a financial Advisor you should not buy yourself Anything because of anything I say right That would be a very very very bad idea Until next time to the Moon family sedan


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