Follow me on Twitter: @moonlamboio
SIGN UP FOR A FREE 7 DAY TRIALGET YOUR .CRYPTO DOMAIN AT UNSTOPPABLE DOMAINS
TRADE CRYPTO ON BINANCE HERE "LOW FEES"
DISCLAIMER: I am not a financial adviser. None of what I have communicated verbally or in writing here should be considered financial advice; it is not. Do your own research before investing in any digital asset, and understand that investing in any cryptocurrency is inherently risky. If you do, you need to be prepared to lose your entire investment.
Hello this is Matt on the moon Lambo Channel the SEC is meeting with ripple Today Monday March 25th 2024 and very soon the case is finally Finally going to wind down we'll find Out exactly what happens regarding the Remedies portion of this lawsuit we'll Talk about what that may mean for xrp Specifically some people think it's Going to uh matter tremendously um I've Said previously and I stand by this I Just I don't I don't agree with that Assessment but hey I could be wrong just A dude on the internet who knows um but It's exciting because we're actually Going to have um you know first word Regarding the remedies Portion by Tomorrow that's another part of the Deadline I'll give you the the specifics Here um also I want to cover it's a Little bit of this story this is from Business Insider I haven't talked about SBF in a while have we at on the moon Lambo channel oh SBF that cucumber Eatting son of a here's the Headline though FTX say victims may get All their money back the judge Sentencing Sam bankman freed might not Care and so a couple things I'll note uh Sam bankman freed is set to be sentenced Within the next few days um I he could Get over 100 years um you know his Lawyers are asking for it I think like Six and a half years I don't think that
I don't think either of those things is Going to happen uh but I'd be shocked if He didn't get at least a few decades um But as far as the idea of victims Getting all their money back uh no That's incredibly misleading that's Super duper incredibly misleading and I Would just say outright Inaccurate but 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 all 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 into the first Topic uh here's a headline from you Today Ripple and SEC enter next phase With pivotal fil countdown Begins the Legal battle between Ripple labs and the US Securities and Exchange Commission Has been a focal point in the Cryptocurrency industry with Implications that extend far beyond the Parties involved recently the lawsuit Took a significant step forward as the Remedy's briefing kicked off with a Pivotal filing according to James K Filin a former Federal prosecutor the Has filed under seal its opening Remedies related brief and supporting Documents these documents are not public
Yet with public redacted versions to be Filed no later than Tuesday March 26 2024 so folks that would be by tomorrow And um we'll come back to that in just a Second here on March 19th Ripple and the SEC submitted a joint sealing proposal To address sealing issues relevant to The remedies related briefing in the Lawsuit with the sec's opening motion Kicking off the remedies briefing other Crucial dates to keep an eye on would be April 22nd 2024 when Ripple's opposition Brief is anticipated and May 6th when The sec's reply brief is expected the Breakdown of the key dates as presented In the most recent joint ceiling Proposal is given as follows and this is The part that's happening today Monday March 25th on March 25th 2024 both Ripple and the SEC are expected to meet And confer to identify any redactions Requested for each side and third Parties for the opening brief and Accompanying materials on March 26th Maybe tomorrow the SEC is anticipated to File a public redacted version of its Opening brief containing only the Provisional redactions requested by the Parties and third parties during the Meet and confer the SEC will also file In the public docket any supporting Exhibits that have not been designated As confidential by the SEC Ripple or any Third party own the pro protective order
Okay so depending on how severe these Redactions are going to be uh well that That'll determine exactly what we find Out tomorrow when the redacted version Is is is is made public now my suspicion Is that anything of substance we're Actually going to see I assume that's Going to be revealed I think it's just Going to be if there's sensitive Information about an individual or Something along those lines uh and That's what the SEC and ripple are going To hash out together but uh I I I think We're actually going to have a story on This one and we'll find out just how Severe uh remedies the SEC is looking For against Ripple how bad they want to Hammer him here and I'm assuming that Whatever it is it's going to be Completely over the top and unreasonable Because the reason I say this uh it's my Sage wisdom uh which indicates that uh The lawyers at the SEC they they are Indeed a bunch of ass hat Pricks so uh That's why I firmly believe that what's Most probable is is something outrageous Just just something completely Unreasonable it's going to be filed and Then we're going to talk about it on the Internet this is this is what's been Happening for years folks now as far as This pertains to xrp specifically there Are still people in the community and Look at everybody's entitled their
Opinion not going to be wrong here there Are people that think that xrp price is Going to react upon uh news either if if Not of this then certainly when this Thing concludes and they think that it Might be like what happens with the Price of xrp would be contingent upon a Favorable ruling for Ripple uh I just Don't buy I just don't think the market Cares I mean it's very clear that xrp Has legal Clarity uh that's the reason That every exchange under the damn Sun Did relist xrp in the United States so If that wasn't enough I think the market Kind of picked up on that so if Ripple Gets some sort of bad deal they get a Raw deal and they they have to pay some Outrageous amount of money or whatever The penalties might be I just don't see Why an xrp holder would care why would a Speculator Care I haven't seen a great case Articulated but some people just just Think that that's how people are going To respond basically because of reasons I I don't get it and fine I could be Wrong but I just don't see it I really Just don't see it I don't think the Market's going to give a damn and why Should they they shouldn't it doesn't Matter at all as far as I'm concerned Here I mean it only matters in so far as Since I'm an xrp holder and I've been Going through this with the rest of you
For years now uh admittedly I have Curiosity and that I'm sure you guys do Too obviously it's like we have Curiosity about it but the part that Matters for us that's over we we got our Clarity and we're entering a bull run Right now it's incredible so this thing Is uh you know coming up roses for us at Least so far Right um but as far as uh as far as SBF Let's talk a little bit about this so The headline here from Business Insider Ftxs victims may get all their money Back the judge sentencing Sam bankman Freed might not Care uh well I don't know what the judge Is going to feel and I don't know Exactly what will be considered but uh The victims getting quote unquote their Money back uh the judge should be Uh taking you know mental stock of that Because it's literally not True it it's it's absolutely not because It depends on what you call money and I'll explain what I mean by that in just A moment here but let me share with you A little bit of this article according To Federal prosecutor Sam bankman freed Orchestrated one of the biggest criminal Frauds in the history of the world Customers of FTX his cryptocurrency Exchange lost more than $8 billion they Say according to his lawyers FTX say Customers might get all their money back
Their dispute leaves a four decade gap Between how long prosecutors want the ex Crypto boss to serve in prison and the Much lower 6 and a halfe sentences Lawyers are fighting for the judge who Will sentence bankman freed on Thursday Is being asked to address this vast Gulf He will have to decide how much money The convicted fraudster should be held Accountable for he is also being asked To weigh the entire circumstances of Bankman Freed's life including the Possibility that he is neurode Divergent And should be treated differently than a Runof-the-mill fraudster oh poor we s Bman Freed blah blah blah cucumber Reen son Of a oh sad I don't give a crap I Have literally no sympathy for he ruined People's lives no sympathy whatsoever For this Douchebag bankman Freed's criminal case Is inextricable from the complicated Bankruptcy of FTX The cryptocurrency Exchange he was convicted of using as a Vehical for fraud he was arrested in December 2022 just about a month after FDX collapsed and declared insolvency Under a new CEO the seasoned executive John J Ray III who was tasked with Shepherding the ruins of FTS X through The bankruptcy courtt since the arrest The criminal cases against bankman freed And his
Co-conspirators uh other Executives who Have pleaded guilty and largely Cooperated with prosecutors worked on a Parallel legal track to ftxs bankruptcy Proceedings as bankman freed sat in his Parents home under house arrest he Purported to make efforts to help out With the bankruptcy process offering to Help identify ftxs assets he repeatedly Emailed Ry who spurned him shortly after He took over the company raid told the Court there was a complete absence of Trustworthy financial information Bankman freed complained about the being Shut out insisting to journalists and Friends that he could have helped locate Ftxs scattered assets US District Judge Lewis Kaplan who presides over bankman Freed's criminal case in lower Manhattan Precluded all talk of the bankruptcy Proceedings from The monthong Trial Bankman Freed's criminal culpability Rested on intent to Def fraud not much Money customers actually lost he ruled And and folks so that part was kind of Interesting to me the way the law works At least in this particular district is That it's it's not about how much money Is even stolen in fact at some point in This article they said it doesn't matter If you know if if you were you know if He was aiming just to defraud to the Tune of $5 million and only got $2 uh The $5 million figure is the part that
Matters which is not good for SPF is Definitely not good for SF And this is one of the largest uh Largest instances of fraud in this case An outright Ponzi scheme in the history Of our species 11 billion if you include Alam 11 Billion so we're going to find out on Thursday uh how long he's going to S Spend in prison and as far as I'm Concerned the longer the better I have Absolutely no sympathy for this cucumber Eting son of a and as far as the Money people lost well they're not Getting it all Back if you say if if anyone's going to Argue that they're getting it all back That's it's twisted and here's why so Check out this part of the article right Here ftxs depositors would be repaid Based on the dollar value of their Cryptocurrency Holdings at the time that FTX declared bankruptcy so folks what if If they got if they bought Bitcoin and They owned Bitcoin what they're getting Back is not Bitcoin if they owned xrp at The time that this happened um what they Are getting back is not xrp It's basically liquidated at whatever Price that is for all intents and Purposes it's tantamount to that Occuring and then they get the dollar Value at that which is way less than What the market is now so check this out
They write so if someone purchased one Bitcoin on ftxs Exchange at the price of $60,000 and then Bitcoin dropped to $20,000 in November of 2022 which can be At least partly attributed to the chaos Of FTX FTX at the time their credit is Worth $20,000 it doesn't matter if the price Of Bitcoin has risen back to over $60,000 since then the Creditor would Get $20,000 not $660,000 so folks think About it say you bought say you bought Uh Bitcoin at $60,000 and then it like and and say say Just say you got a whole Bitcoin and Then it drops in price you know it loses 66% of its of its value of its market Value and then you you think you still Have the one Bitcoin and you did like That didn't change regardless of what It's worth United States dollars and Then this this collapse happens because It's a Ponzi scheme you couldn't cash Out and now what you're getting back After all this and there's nothing you Could do in the interim you didn't have Your funds what you get back is not your One Bitcoin you get back dollars and so If it went from like they said here if It went to from $60,000 to $220,000 too Bad so sad for you uh crypto investor on FTX and they call so that they call that You know FTX customers being made whole They're getting all their money back no
They're supposed to get their crypto Back then it would be made Whole but of course we knew that wasn't Going to happen I know that's not a Realistic Target but then don't say that That that it's happening because that is Just misleading that it's just not the Case these customers are not being made Whole and you know think about so that Money you know had they gotten it the Day that FTX collapsed which obviously Was impossible but had that at least They could have reinvested it and then They wouldn't have they wouldn't have Lost it but that's not the that's not The case they lost you know about a year And a half to this point those funds not Being put to work in crypto and now We're well into a bull run that this has Wrecked people I have no sympathy for SPF so we'll see what happens like I get My Opinion as far as the prison sentence The longer the better I'm not a Financial adviser you should not buy Yourself anything because of anything I Say or right that would be very very Very bad idea until next time to the Moon Lambo
