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Hello this is Matt on the moon Lambo Channel what happens when the SEC Ultimately approves a spot Bitcoin ETF Maybe multiple spot Bitcoin ETFs but Then proceeds to sue Market participants Who embrace it you know th this is in Line with the behavior that we saw with The coinbase IPO after all isn't it Coinbase got approved years ago and then What happened coinbase gets Sued and so you got to kind of ask what Makes Legacy Finance think they'll be Protected well and maybe they are maybe This is maybe it is as as as many of you Know theorize that it's just a move to Protect incumbents as the incumbents get Get get moved into place maybe they're Actually fine uh but there's an article That covers this uh here's a headline From the Crypt basic expert says SEC Chair didn't learn anything from Ripple And xrp defeat and I want to get into That one because it covers that very Topic um there's also this from you Today Ripple's top lawy lawyer spots Troubling pattern for SEC and this is Interesting because they highlight Comments from uh ripples Chief legal Officer Stuart alera also though there's Comments from Attorney John Deon and Interestingly billionaire Mark Cuban Responded to a post from John Deon yes Mark Cuban of Shark Tank Fame and I'll Share with you what he had to say um but
Yes he's ultimately they're highlighting A string of failures from the SEC and What should be done Moving forward um and then I want to Briefly touch on this article from the Daily hotle no Rhyme or Reason SEC Commissioner Hester Pur blast her own Agency's handling of us crypto industry But uh before going further I do want to 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 or right I'm just an Enthusiast to enjoy is making YouTube Videos about crypto related topics but Just as a hobby just for fun so again The first piece titled Ripple's top Lawyer spots troubling pattern for sec In a series of recent posts on the ex Social media platform Stuart aldera Ripple's top lawyer has called attention To what he perceives as inconsistencies And failings in the United States Securities and Exchange commissions Handling of crypto related cases ala's Comments come amid ongoing legal Disputes involving the SEC and various Cryptocurrency entities where courts Have on multiple occasions criticized The SEC for its approach and decisions And so here's the actual post on social Media platform X from Stuart aldera a Troubling pattern emerges and he's got
Four bullet points number one and it's It's delightful to see this listed I Just I I do take joy in this any anytime There's there's an utter defeat from the SEC like I I bask in the glory of that And I hope you do as well bullet point One Court finds the SEC demonstrated Hypocrisy by making inconsistent Arguments to the court and not acting Out of a faithful allegiance to the law That's the secb Ripple uh July 12th 2022 One year and one day before uh what has Become known as xrp victory day when we Got legal Clarity for xrp but that was a Quote faithful allegiance to the law see Again that's the quote that they're not Acting out of that faithful allegiance To the law and engaging in hypocrisy That's a quote that is tremendous scorn This is not something that see like Typically you know in a normal situation A government agency is not necessarily Going to be excoriated uh through normal Processes in like just in the legal Process in general you have to really go Outside of the norm and be complete ass Hat Pricks to to get that type of scorn From a judge bullet point number two Court agrees that the SEC defaulted on Its duty to respond in good faith to Coinbase's petition to for crypto Rulemaking in re coinbase That would be June 6th this year 2023 so That's another
One third bullet point Court finds that The sec's quote inconsistent treatment Of similar products is arbitrary and Capricious end quote that's grayscale V SEC August 29th of this year 2023 and so obviously the fact that There's not a spot Bitcoin ETF right now Today is absurd now I still believe it's Coming but that's not the purpose of This video so I'm not going to talk About that I just want to mention it is Absurd it should have happened and the Court found that there was quote Inconsistent treatment of similar Products and that it's arbitrary and Capricious it's coming folks the SEC is Outside of the realm of what they have Power to do in in not approving one at This Point bullet point four court orders Sec to show cause why it should not be Sanctioned for making false and Misleading representations to the court SC CV debt box and that's the newest one November 30th 2023 and so the failures the losses they Keep stacking and stacking and stacking And so it was just earlier this year That Kim Jong ginzler was bragging about The sec's victories up to this point and Now it's just failure after failure After failure they can't like they can't Get a damn win Man um and and so Attorney John Deon
Reposted that and cited that most recent One from November so I'm not going to Read that part it's on your screen but That's part of what attorney Deon said Or posted and then he Wrote almost every single court that has Dealt with the SEC in the last three Years has called them out for Lying and then he tagged Patrick M McKenry Congressman said where is The Subpoena yeah that would be nice to see Wouldn't it now this is where Billionaire Mark Cuban of Shark Tank Fame jumps and responds to attorney Deon And he simply said something voice of Reason here this makes sense he says Someone needs to go Foya Madness on them So he's course talking about the Freedom Of Information Act which is something Here in the good old United States that Should allow some semblance of Transparency to the public when it comes To government actions and it actually Does nothing's perfect and yes there can Be some stonewalling from the SEC and We've seen that time and again but Ultimately uh if they don't hand over in Like documents that should be public if If that's what's determined to be the Case through a forer request if that's Approved if they don't there are serious Penalties from a legal perspective so Typically if there is a for request it Actually does go through it's just they
Can do things to slow down the process This or that but it's a real thing so When Mark cubin says someone needs to go For you Madness on them yep and so I Actually responded to Mark cubin and Wrote yes that's true and Empower Oversight has been doing that thankfully Always more work to be done though and Empower oversight not for profit any They I've been highlighting all sorts of Stuff from them since they came on the Sing how long has it been has it been a Couple years at this point they've been Around a little bit now they're they're Newer but they've been around for a big Chunk of what's going on in the secv Ripple case the last couple years but But yeah but they have done that and There's been all sorts of information Made public because of Empower oversight That we wouldn't otherwise have so it is A real thing it's a real strategy it Actually Works um now that was reposted by Attorney John Deon and he said Mark is 100 with the 100 emoji and he wrote ower Oversight had success litigating foyer Requests versus the SEC it can be done We need a public citizen coordinated Strategic multi-prong Foya approach AKA Foya Madness and then he provides his Email address for anybody that wants to Jump on board with that attorney Bill Morgan reposted steuart aldate and said
Thanks for that summary it is conduct That is the exact opposite of the model Litigant principles we have in Australia For how government agencies should Behave in litigation I doubt the SEC Would even understand them and then he Shared a an excerpt from uh what here he Said is from note to appendix B Legal Services Direction so this is Australian Legal code which reads as quote in Essence being a model litigant requires That the Commonwealth in and its Agencies as parties to litigation act With complete propriety fairly and in Accordance with the highest professional Standards end Quote when I read that were you thinking Oh that's the SEC no zero humans would Ever think that I was talking about the SEC by read it zero humans on the planet Because they are spawns of Satan those Little ass hat prick Attorneys at the SEC they're like winged creatures flying Around here's a headline from the daily Hudle no Rhyme or Reason SCC Commissioner Hester Pur blast her own Agency's handling of us crypto industry Uh yeah That's put it lightly but like I'm glad She did I'm glad she did US Securities And Exchange Commission official Hester Purse is launching another broadside Against her agency over its regulation Of the crypto sector while speaking at
The blockchain associations policy Summit this week Pur one of the sec's Five appointed Commissioners argues that The regulator is bringing enforcement Actions against old cases quote without Clear Rhyme or Reason end Quote uh yes and and I know like she Takes a lot of flak but I'm I'm mostly On on board with her um I and I don't Think this has been made public not that I'm aware of but we are going to get to See the record of which um which Commissioners actually voted in favor of Bringing the lawsuit against Ripple it Has been reported by Fox Business that Eser Pur did not but I haven't seen Beyond that an official record of that But my understanding is she's one of the The good people she's one of the good Guys out there and she did not vote to Bring a suit against Ripple um so that counts for something As far as I'm concerned you know because If if Jay Clayton weren't a little Monster then uh you know we would have We would had the votes necessary to Prevent this whole thing because he was One of five votes here's another quote From es Pur there will come a time when People say wait do we really want to Drive all of these companies out of the US when that time comes we need to be Ready with a new with new ideas for us Regulation end quote Yeah well we'll see
What happens in the realm of Congress But uh by the time we get to this Point like damage so so much damage has Been done we'll see to what degree Things can be remedied but there's been A lot of ground seated there's a lot of Development happening in other corners Of the world that would be happening in The United States uh if not for the SEC So that's a real thing like that's just Set in stone this is not what happened With the Advent of the internet uh so Much of the technological revolution in In that age happen here in the United States where I live that's just there's Less of that here now there's just less Of it here because of these awful Humans and so it makes you kind of Wonder how are they going to Behave when there ultimately is a spot Bitcoin ETF now I have a hunch that Market participants are going to be a Okay if you're talking about traditional Finance spot Bitcoin ETF I have a hunch That by and large SEC is not going to Give him Grief Maybe I could be wrong I could be Wrong you know uh because they they are Assap Pricks I've said that many times I Don't know if you heard me say it but I Have said it they are assap Pricks Spawns of Satan winged creatures and Maybe fine they approve the spot Bitcoin ETFs and then the black rocks of the
World they come in then Kim Jan ginzler Just sues all of them Anyway maybe but like the hell that will Rang down upon Kim Jean ginzer I mean It's like the a number of lawsuits And they'll lose on top of that and then You got a kind of question too like even If the if Kim Jean giner would do that Which it fine it to maybe even if with How long things would take for Everything to get in motion for all of This to is is Kim Jong ginzler even Going to be in charge is there going to Be a different Administration in charge In General possibly in which case perhaps It's less likely we'll see what Happens but you know if it's the case That it's just hey let's give the crypto Folks a hard time so we can get the Incumbents in well if that's the actual Plan you wouldn't expect them to get Sued anyway which is you know Attorney John deon's Theory and he could be right So here's a headline from the Crypt Basic expert says SEC chair didn't learn Anything from Ripple and xrp defeat and They end up covering a quote key Portions from an article from um from Real Clear markets there's this article I'm not going to read the article it's Not necessary for the purposes of this Video it was written by a guy named Hassan
Tyler and just rips into the SEC but There is a there a particular segments Of this article cited by John deon's Crypto law organization on social media Platform X and I want to share with you These specific quotes because it's on This very topic and I'd love to hear in The comments section below what you guys Think is actually going to happen on This but I'm just I'm just at this point I'm going to guess it ends up once we Get these spot Bitcoin ETFs in place I'm Going to guess that you're not going to See you know anybody that's Participating in them given a lot of Grease I'm going to guess that they're It's not going to happen whether it's Because there's an administrative change Kim Jong guinsler is no in charge or Because it was part of the plan anyway And the incumbents are now getting their Slice whatever it is I'm going to guess That it's not going to happen I could be Wrong but that's my forefun guess uh Here's the quote that John deon's crypto Law organization shared from that Article Real Clear markets Gary gendler Seems to to refuse to learn anything From Clayton's Market confusing actions The conflicts of interest around Hinman The failure to scrutinize SPF or the Failed case against Xrp end quote and then there's another Quote what is going to happen when the
SEC approves spot ETFs and then start Suing Market participants like it did When the agency approved coin bases 2021 IPO and then sued it in 2023 claiming Its core business model mod was illegal From the start it's a broad hypothetical But entirely in line with the sec's Irratic and incoherent record moreover Will the SEC ethics office or IG ever Investigate the conflicts of interest During Clayton's tenure where the Pronouncements from him and Henman Continue to affect Market perceptions of Ether as spot ETFs are on the horizon End quote yeah good questions right And and maybe it is the case maybe maybe His hunch it seems like it's his hunch That once this happens there spot Bitcoin ETFs approve maybe the SEC does Come after him I could be wrong maybe I'm being too naive here I'm being a Naive little Moon Lambo you you guys will just have to Tell me what you think Here I mean it's it's not it's not a Crazy idea if you think that what's most Probable is yes these these incumbents Once once this is approved yes they're Going to get sued by the SEC or attacked In one way or another if believe that Totally Reasonable I don't think that's most Probable but I admit I could be wrong I Could certainly be wrong about
That it's certainly on the table because There have been so many times where You're thinking oh come on the SEC is Not going to go that far there have been Multiple instances like that over the Last few years haven't they and then They just do it just completely out of Line of sometimes even of what would be An interest toward them they can't help Themselves there's just the egos of These people these disgusting humans so We'll see you guys just have to let me Know what you think crazy world we live In so yes troubling pattern emergence Says Ripple clo yep that's about right Troubling for the SEC I'm not a financial adviser you Should not buy yourself anything because Of anything I say or right that would be A very very very bad idea until next Time to the Moon Lambo
