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Hello this is Matt on the moon Lambo Channel the news just broke within the Last couple hours or so the SEC in the Remedies portion of the secv Ripple case Is seeking to bankrupt Ripple with a $2 Billion remedy absolutely freaking Outrageous show me the humans that were Harmed by what Ripple was doing can you Find one can you find the Unicorn Because what i notied is that there were 75,000 xrp holders represented by Attorney John Deon who say no we weren't Uh no we weren't harmed uh the judge Found that xrp itself is not a security But there were certain transactions that The judge also found Ripple engaged in Illegally and the SEC is saying for that You should be find in the remedy portion Of this case to the tune of $2 billion Which come on Ripple does not have that Money Ripple has last I I heard them Publicly state by Brad Garland house They had about a billion dollars in the Bank which is a ton of money they're Asking for twice that What in the ever loving hell this would Ruin the Company now is that going to happen well That's what we're going to talk about uh I have perspective from uh some Executives at Ripple including a Co-founder of Ripple I've got also Perspective from a former SEC attorney Opinion on what is likely to occur here
But this is completely PR Preposterous before going further though 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 who enjoys Making YouTube videos about crypto Related topics but just as a hobby and Just for fun all right so just this Morning probably I don't know a little Over 12 hours ago I posted a video Letting everybody know hey uh the SC and Ripple are going to be meeting today That's what's cited on your screen here In this daily coin article and uh it was To discuss what's happening regarding The remedies portion of the lawsuit now I wasn't expecting necessarily for us to See anything today I was I knew we could But I was expecting more likely by Tomorrow we would because as you can see On the screen here March 26 2024 the SEC Has to file a a redacted version of of Its opening brief as it pertains to Remedy so I thought yeah okay you know They could file something today but Probably tomorrow now um I haven't seen The SEC actually file anything yet so That probably will occur tomorrow but uh Ripple's attorneys and Executives Started talking about part of what the SEC is going to going for $2
Billion oh my freaking God uh and so we Knew that this was coming here's a post On March 22nd from xrp Community member And Attorney James K filin uh the SEC Has filed under seal its opening Remedies related briefing uh brief and Supporting documents these documents are Not yet not public yet public redacted Versions will be filed no later than Tuesday marks March 26 2024 so we're Going to get to see that uh by tomorrow But take a look at what steuart ald said Steuart Al reposted what I just shared With you from attorney filin steuart Alat of course is Ripple's Chief legal Officer so he's their top in-house legal Guy at re at Ripple and he said as you Will see when the sec's brief is made Public tomorrow they asked the judge for Two billion dollar in fines and Penalties folks like I don't I don't I Don't think this is going to go through With $2 billion I think it's completely Outrageous I don't I can't imagine the Judge going for that but if that Actually were the penalty how does Ripple Exist I I I don't see how they do the SEC despite losing the case I me on in Terms of you know the stuff that at at The heart of it that actually matters Which would be the stat legal status of Xrp they lost that and still they're Trying to destroy Ripple it's dis these
People are some of the worst humans on The Planet Al the Continues response will be filed next Month but as we all have 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 and Intimidate Ripple and the industry at Large yep that sounds about right so I Wrote steuart alati just a little before Recording this video and I said that is Completely outrageous no one was even Harmed by Ripple but people were harmed By the SEC and so folks if anything the SEC should be saying some paying some Sort of2 billion doll fine of course I Don't actually want that because it's Just taxpayer money but you get the cut Of my Jip Brad Garen housee reposted that Thread from steuart aldera and he said The following gensler's SEC has Repeatedly acted outside the law not Going on notice by judges admonishing The agency for Gross abuse of power entrusted to it by Congress that's the debt box case and That's a quote by the way gross abuse of Power entrusted to it by Congress that's A quote from a judge that's real life
That's a judge saying that about a Government agency the SEC that's a real Thing uh then he continues he says in For acting without quote faithful Allegiance to the law end quot that's The Ripple case of course let's not also Forget gin's lack of attention to S SP Fraud yeah isn't that something he's a Guinsler able to go after uh Ripple able To go after Kim Kardashian uh you know for the the the Uh the paid advertisement for an swword Coin in in which she acknowledged that It was a paid advertisement and she Still an after for her for seven figures Uh yeah you're able to go after that but You couldn't sniff out that fraud from The Cucumber eaten son of a Sam Bankman freed you couldn't sniff that One out guinsler but all this is Happening it's offensive and then Brad Says the SEC plans to ask the judge for $2 billion in a case that involved no Allegations let alone findings of fraud Or recklessness there is absolutely no Precedent for this we will continue to Expose the SEC for what they are when we Respond to this spot on brag Garling House and so I wrote to him and said It's offensive what the SEC wants and Remedies especially given no one was Harmed wasn't the SEC initially alleging Something like $1.2 billion in their Initial legal complaint in December 2020
And folks I I didn't go double check That initial legal complaint from December 2020 but that's about right it Was it was 1.2 billion I think maybe 1.3 Billion so how did that jump up to two Billion when the core of their argument Pertaining to the legal status of xrp Was not found in their favor so they Almost double it well we didn't go what We want so I guess we're going to double The five blah where're a bunch of idiot BL Blah what a bunch of freaking jackasses Chris Larsson co-founder of Ripple Reposted what Brad Garin house shared And wrote The Following on X gendler's SEC has become unhinged this will not And should not go unnoticed in an Election year as the SEC single-handedly Thinks it's above the law dragging the Us further behind other G20 countries Absolutely uh from John deon's crypto Law reposted what Stuart Alid shared and John Crypt law wrote the SEC lost on its Central arguments in the Ripple case Winning only on failure to register Investment contracts with a small group Of institutional investors it's going to Demand 300 plus per in remedies this Isn't about protecting investors it's About revenge for losing okay that is Spoton because these these SEC attorneys These assat Pricks winged spawns of Satan there is no rationale that is
Reasonable for pushing for a two billion Dollar fine penalties whatever you want To call it in in the remedies portion of This case completely unreasonable not Even Close here's what attorney Bill Morgan Had to say he reposts what Brad Garling House Sharon wrote Brad we know the SEC Overreaches in crypto case reg cases Regardless of the notion of Simply Applying the law and we know its motives In this case go beyond legal Consideration so it won't obtain Anywhere near $2 billion but I assume it Has made an argument in its brief that There needs to be a strong deterrent by A large fine uh due to Ripple's post Complaint and post summary judgment Sales of xrp yeah so I I wouldn't be Surprised if that's spoton we're going To find out presumably tomorrow so uh Happy to update you then as soon as we Find out what they actually argue but uh It's going to be nonsense whatever it is It's going to be a bunch of hoo-ha Jibber jabby Jibber jibber jabber Nonsense horse pucky um because but but Look I can't imagine the judge is going To read them be like oh that's par twice Have I had thought about like that okay2 Billion dollar no that's not what's Going to happen who is that stupid Here's a post from attorney Mike Selig he wrote sec's purportedly seeking
$2 billion in monetary penalties from Ripple for purely technical registration Requirement Violations the agency's clearly no Longer trying to hide its litigation Motives it's regulation by insolv C Exactly they're they're trying to Bankrupt Ripple that's the goal here That is exactly what they're doing now I Don't think they're going to succeed but That's what they're going for because That's what this would do they could no Longer [Music] Exist xrp Community member Wrath of Conoman tagged um former SEC attorney Mark fagel uh asking a quick question Because you know former SEC Guy what's Your what's your take on this what's Your Insight so AR conman wrote hi Mark Fagel quick question if as is being Reported the SEC in the Ripple case is Asking for a $2 billion judgment is this Just a request for a one toone Correction a fine of $2 billion of Transactions or is there a punitive Element meant to dissuade in that figure Thanks and attorney Fel did right back And he said haven't seen the brief I Assume it includes discouragement of a Legal institutional sales $700 million Plus prejudgment interest and a penalty Of around 1 to two time times that Amount they won't get anything close in
My humble opinion Folks even a former SEC attorney who has Who spoke out against Ripple and thought That Ripple wasn't going to do so hot in This case and he was wrong about that Even he will say yeah the SEC isn't Going to get what they want Here and I I just don't see how they do Either es look at how judge tus has been Behaving in this case and you know Bringing the hammer down on the SEC in Multiple instances I I just if anything If I her I'm just I'm like well you Offended me Again Ripple find $0 and0 that would be Fantastic this is stupid this is dumb as Hell so we'll see what happens let me Know what you think in the comments Section below I'm not a financial Adviser you should not buy or sell Anything because of anything I say or Right that would be a very very very bad Idea until next time to the Moon Lambo
