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 and this is Rich look at the Headline on your screen from coin Telegraph SEC is attempting to classify Ether as a security now this is Something right this is something for so Many freaking reasons and I was warning For years this is something that could Happen and all of the people in the eth Community said no of course not it's got Legal Clarity this or that and I said no It doesn't eth absolutely does not have Legal Clarity because xrp is the only Large cap cryptocurrency in existence That has legal Clarity and it had to go Through a multi-year litigation process To achieve that Bitcoin doesn't have it Eth doesn't have it there isn't any Other coin that has it certainly not to The degree that xrp very obviously has It that's for damn sure and so I warned For years yes eth got a free pass but How good was that free pass and how long Was it good for because that was under a Previous administration at the time that Eth got the free pass in June of 2018 With the Billy boy Henman ethereum free Pass speech and uh and Jay Clayton then SEC chair signing off of the thing Actually uh received drafts of the Speech prior and offered critiques on it Before Bill Henman gave the speech like Yeah you guys know the whole thing and You know how Bill Henman profited to the
Tune of $15 million in the ensuing years After giving that uh G giving that Ethereum free pass speech with his Law Firm Simpson that you guys know the Whole thing I don't need to go down that Even any further than that as a Refresher but I warned I warned anybody That would listen said guys those people Jay Clayton Bill Henman they are not at The SEC anymore you now have Kim Jeong Ginzler in Charge he can do whatever the hell he Wants that free pass was only good for As long as they were there and then the Hope would be that in subsequent uh you Know under subsequent leadership that They wouldn't want to rock the boat too Much and they just go with the status Quo and maybe not attack eth well looks Like that may not be the case the SEC May attempt to claim that eth itself is A security they are investigating folks They're investigating the ethereum Foundation vitalic butterin all this It's Happening insane Right 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 right I'm just an Enthusiast who enjoys making YouTube Videos about crypto related topics but
Just as a hobby and just for fun and oh By the way I have um a post from Ethereum co-founder Charles hoskinson Who was also of course the founder of Cardano uh he shared a a fairly long Post not that long I guess uh more than A couple sentences sharing his thoughts On this exact topic after this story Broke and then he deleted It but lucky you I've got a copy of it And I'm going to share that with you Just let me get a little bit further Into the video CU I want to do things in A particular order but isn't this Something think about this xrp the Year's 2020 heading into the end of the Year we know that the Market's heating Up Bitcoin hitting a new all-time high At some point in December right and uh Xrp had been blazing to the upside from About 20 something cents to over 80 Cents and and then the SEC claims that Excerp itself is a security and a tax Ripple the price plummets xrp never hits A new all-time high for the last Market Cycle what's happening now though Ethereum ethereum Foundation under the Microscope now SEC apparently wants to Classify eth as an actual security and This is at a moment in time where E's Been running up quite a bit it was at Over $4,000 the other day before the Most recent pullback and it's come back A bit since then as the Market's been
Started to rise again happy to see that Broadly speaking but eth hasn't hit a New all-time high and we are at this Moment before the true blowoff top of The Mania has occurred and We could depending on how quickly the SEC moves right before the Mania hits in Theory we could see a lawsuit against Various key players in the ethereum Ecosystem including the ethereum Foundation right before claiming eth as A Security what will that do to eth in in A bull cycle we already saw what Happened to xrp isn't this so rich Especially when you had that little snob Vitalic vuin gloating about what was Happening with xrp calling X an sord Coin remember that back in 2020 I'll Show you in a second as a reminder uh Yeah he he was he Was he it was not about Unity back then I'll tell you that and now it's just Like I don't believe in karma because You know there's no scientific basis for It but if it did exist I would say that This were an example of it oh my God so The headline here again from coin Telegraph SEC is attempting to classify Ether as a security report the United States Securities and Exchange Commission has reportedly issued several Subpoenas to companies related to Attempts to label ether as a security so
Folks is this hilarious didn't work with Uh xrp and they lied to the judge about Their attempt to do that even though if You look at what they're actually Arguing it's it's the embodiment Theory The xrp is a security and then when they Lose they say no no no no we we were Just saying that we we're never saying That it's just we're saying it's Computer code we're not even going to Appeal that aspect of judge torres's Ruling so there's a straight up lie About this but isn't it funny they're They're going to try that approach again Here the asset itself is a security and It and to be clear um I'm laughing at Vitalic be because that he's a little Snob what a little punk but I don't I Don't want the ethereum ecosystem to be Damaged just to be clear eth is actually The first cryptocurrency I ever Purchased it's the first cryptocurrency I ever purchased and I hold it still I Do not want it to get tacked I don't Want it to be I'm just laughing because There are so many participants in the Ecosystem that weren't going to play Friendly they weren't going to play nice With the the xrp community nope screw That xrp Community but here it's coming Back on them so I'm laughing at those People getting them come upin now I Don't actually want that to happen it's Not good for me either but it's way
Worse for them that's for sure anyway Peace continues according to a March 20th Fortune report an investigation by The SEC into the ethereum foundation Could give the commission regulatory Coverage to Define ether as a security The foundation suggested via GitHub that It may be under investigation from a State Authority several us-based Companies reportedly received subpoenas From the SEC requesting they provide Documents and financial records related To dealings with the ethereum foundation According to people familiar with the Matter the commission launched a Campaign to classify eth as a security Following the blockchain's transition From proof of work to proof of stake in 2022 and folks that's something that I Had mentioned on the channel before um You know because because I'd seen Rumblings of this I I I I had seen that you know with the Nature of this this is going to give an Opening not that we knew for sure that The the SEC at that point in time was Actively taking action I'm not saying That but there were concerns articulated I highlighted them on the channel That Due to the nature of that change from Proof of work to proof of stake that That created an Opening and in fact Gary guinsler you May recall on the day that happened Gary
Ginzler um was was saying things that Would lead you to believe uh e not in The clear I highlighted it the day that Proof of stake when and I'm recalling This as I'm speaking right now it was The day that happened and so I'm sure I Said it other times too just just Bringing it up so we knew that this was A Possibility and peace continues while in Office SEC chair Gary guinsler has Refused to answer direct questions about Whether eth qualifies as a security Under the commission's purview despite Claiming Bitcoin ether and others were Not Securities in 2018 the commission Has approved exchange Trad funds tied to Ether Futures but has yet to decide Whether to approve or deny spot eth Etf's many experts expect a decision by May and I've long stated that I do not Believe it's probable though not Impossible I said not probable that We'll see an eth um a spot eth ETF get Approved under the rule of Kim Jean Guinsler he only approved the Bitcoin One because he was backed into a corner Thanks to Legal happenings but those Legal happenings pertain to bitcoin Specifically not any other crypto in the Entire space so I do not believe that It's probable at all that Kim Jean Guinsler would be willing to approve Especially now you can see like they
Want to claim eth itself is a security Which is absurd is I still you know I'm Still going to push against that even Though I'm having a little bit of fun With it in this video because it's just So rich after all of these Pricks over On that portion of the crypto Community Were so rude to us and refusing to help Wouldn't even lend their voice now it's Turned around back on them well isn't That Rich here's a post from Fox Business Journalist elanar terret if this is true Then it explains why the SEC has been so Mum with the eth spot ETF issuers the SEC staff may be waiting for any Lingering investigations to rep before Gary guinsler gives them Direction yeah And that that's totally plausible that Makes a ton of sense Gary Gins I believe Will not approve this no matter What um here was a post from Community Member n bucks he wrote it's never a Good look to cheer on your competition Getting sued by the government in a Libertarian industry I am not cheering On an eth investigation but I am also Not upset about it what goes around Comes around this is law well I'm Actually I'm having fun with it Admittedly right now but I do find this Bothersome I am upset about it this is Completely inappropriate the SEC is out The damn Minds pulling this nonsense but
They're a bunch of assap Pricks as we Know they are spawns of Satan winged Creatures very foul um but what he Shared here is interesting it's a post From vitalic vitalic berin of course Co-founder of ethereum December 21st 2021 so this is the day the news broke About uh Ripple about to get sued and Then I believe it was December 22nd the Very next day where it actually Happened but uh look at this vitalic but Wrote The Following December 21st 2020 looks like the Ripple xrp team is Sinking to new levels of strangeness They're claiming that their sord coin Should not be called a security for Public Policy reasons namely because Bitcoin and ethereum are Chinese Controlled and then laugh Emoji so he's Calling xrp and sord coin uh not not Doing anything to uh to know help defend Against the SEC nothing of the sort not Just being tribal you know just doing What he's doing he's a little punk um It's that's why I get it so rich years Later you know it's over over three Years later and it's coming right back At him you better believe that the Ethereum foundation specifically now I Don't want I don't want the SEC to have Any sort of special powers over eth or Anything like this so I'm still going to Push back against this but give me a Video here to have some fun with this
And I don't think I have to convince you Guys right You' were long for this ride For the last few years like my God uh here's a post from Patrick McKenry um member of the the House of Representatives and he said reports Indicate Gary giner is moving to ater Classify eth as a security this is Contrary to the cftc's assessment and The sec's prior actions Congress decides The sec's jurisdiction and budget chair Guinsler doesn't get to make it up as he Goes along yeah okay well then subpoena Him like do something I mean I agree With that obviously but where's the damn Action I'm not seeing It uh here's a post shared by xrp Community member xrp drops this is the Charles hoskinson post which um he he Shared on social media platform X after This story broke and what is on your Screen right now which I will read in Just a moment this has been deleted by Charles hoskinson this is a screen grab Shared by xrp drops which is why I can Still share it with you here's what Charles hoskinson had to say before Inexplicably inexplicably he decided to Remove try to remove this from the Internet he says for those on team Orange that means the bitcoiners the Bitcoin Maxis and in the xrp circle Speculating on the Subpoenas here's my Outsider hot take on
Ethereum at the moment the investigation Isn't related to historical facts and Circumstances around the 2014 Ico but Rather a position that the 2022 Transition from proof of work to proof Of stake is a new cryptocurrency with a New set of facts and circumstances this Would be in line with statements during Testimony and also the fortune report of Entities around the ethereum found Getting a subpoena what that means is That everything about eth gate and proof Of work prior statements etc etc would Be irrelevant since ethereum 2 basically Reset the clock and has a blank slate Legal interpretation the only thing That's relevant would be if ethereum at The moment of POS proof of stake launch Was a security and who the issu issuer Was of that asset okay couple things Jump out at me right away with this one Uh in terms of this being the trigger For for uh e ethereum Foundation getting Investigated plausible there that very Well may be the case I've seen tons of Reports on that but what about the rest Of it where he says that reset the clock The rest of the stuff before that Doesn't matter no that's not true at all That Absolut now I don't know what the SEC is going to do are they going to Come um come after the ethereum Foundation or any other actors within The ecosystem for Stuff prior to that I
Don't know but is that still relevant Yeah he says it's irrelevant Charles Hoskinson is absolutely incorrect of Course it's Relevant 100% it's relevant if you broke The law you broke the law period that is That it's not oh well you broke this law In a new way we'll just ignore the other Stuff and the other ways you broke the Law we'll just look at this one thing no That's not what happens it's not like You break into a house and that's Illegal but then you break into a second House and you get caught for breaking Into the second house like well we're Just going to go after this one we know You there's all this other stuff here All this evidence you broke into that Other house no but no you broke into the Second house so now the first one Doesn't matter does that make logical Sense of course it does not this is what He's arguing right here and so I do Think there's all sorts of stuff now This isn't to say this isn't me arguing That I want them to go after anybody in The ecosystem I'd rather the SEC have Their Ms on nothing having to do with Crypto quite honestly but uh you know It's very clear that there is some uh Shenanigans going on right and if it's Illegal it's illegal this doesn't reset The clock just from that moment in time Why that doesn't make any damn
Sense is what it is so anyway this is What he didn't want you to see maybe It's just such a bad take he's like wow I need to get rid of this from the Internet as best I can maybe that maybe It's that maybe that's why Charles Hoskinson deleted this but I got to show It to you because here's a screen grab Of it we'll keep seeing what happens but This is Rich and please tell me what you Think about this how you feeling about This xrp community in the comment Section below you got to tell me what You're thinking I'm not a financial Adviser you should not buy or sell Anything because of anything I say right That would be a very very very bad idea Until next time to the Moon Lambo
