Although this is Matt on the Moon's Family said Dan Channel and I've got a Hodgepodge of topics to share with you In this latest room temperature Jam did You know that uh coinbase was custodying About 4 billion xrp before the SEC sued Ripple which ultimately led coinbase to D-list xrp it was actually a ripple Employee who did some math based on a Separate announcement that resulted in This I'll share with you the specifics Just because I find it quite genuinely Fascinating then there's also this Headline from you today Ripple's top Lawyer highlights sec's recent Supreme Court loss oh yes that's right folks SEC Is having a bad time lately and I'm Telling you if it gets to the point and I God I hope it doesn't but if it gets To the point where uh the secv Ripple Case ends up at the Supreme Court the SEC will lose That seems like a virtual certainty I'm More confident of that than I am of Judge Torres at the district court level Coming back with a favorable ruling for Xrp holders and and I'm confident in That too I am just to be clear but I'm Even more confident if it gets the Supreme Court based on the makeup of the Current Supreme Court Yeah it wouldn't be good for the SEC and They keep trying their luck they're like They're so far out of whack they just
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Keep it's loss after loss after loss After it just they keep losing at the Supreme Court level these judges ain't Have in it Um then I got some Market updates and Some other stuff it'll be it'll be a fun It'll be a hoot just stick around buckle Up but before going further doing be Clear I do not have a legal or financial Background of any kind I'm 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 a hobby and Just for fun all right so as far as the Coinbase and holding four billion xrp Where'd that come from Um well it started here Um as many of you are aware at this Point coinbase finally just a few days Ago began air dropping flare tokens now Mind you Flair was launched in January So it took them a few months which is Completely inexcusable but they did Finally do it and they put out a tweet Uh to just a little bit 15 hours ago as Of the time I'm recording this uh noting That the airdrop was complete and that's Good I'm happy to have seen that and They tweeted out Coinbase has completed the flare token Airdrop distribution over 601 million
Flare tokens have been distributed to Eligible users Uh trading for Flair will begin on or After 10 a.m uh Pacific time today April 14th if liquidity conditions are met Outbound transfers will be re-enabled Shortly after trading begins and so a Couple things basically and I'll show You in just a sec backwards math was Done to figure out how much xrp was Holding based on the amount of flair That was distributed but real quick as Far as trading I'll just note uh trading Actually is live uh just earlier I did Hop on uh the coinbase app on my phone Logged on in and uh it's it's available So I may be purchasing some more sooner Than later because and I'm not going to Get into flare stuff in this video you Know in terms of like All the stuff my personal perspective And Analysis other than to say that you Know what we saw a month ago after the First flare drop which is so there's an Airdrop in January then there's 36 flare Drops uh the first one was a month ago And there's one each month for 36 months Before the first one a few days before That the market price of flair tanked so People were expecting that the price was Going to tank upon the first flare drop And so they started trying to exit their Positions days earlier Uh but then everybody started doing it
And then when the flare drop happened The price didn't crater at all in fact The price just went up quite a bit Actually because it dropped as low as 2.4 cents ended up going up to four Cents uh in terms of percentage increase It's pretty large actually And so they're they were trying to sell Early for a drop that actually never Ended up coming because anybody wanted To sell they did it days early now Interestingly we've got tomorrow the Second flare drop it will happen at April on April 16th at 7 A.M Central Standard Time now that uh that's going To be interesting because to this point Anyway the price of flare leading up to This didn't drop like it did for the First flare drop so maybe people aren't Um also maybe there's different makeup Now because in order to get the flare Tokens you know a flare dropped it to You you have to be holding it so perhaps That's a factor as well I'm just waiting To see will people end up selling uh After the second flare drop I don't know So I I I'm hesitant to even guess I guess if I Had to guess I don't feel strong about This but if I had to guess I'd say it Probably no drop if there is a drop Probably not that much I mean people are So aware of this if there's going to be
A drop it probably already would have Happened frankly so if but if there is One which I admit Could Happen Um that will probably prompt me to buy a Lot more if there is no drop I'll Probably still buy a little bit more And then maybe I'm probably just going To keep dollar cost averaging into this Thing because I just find it so Fascinating like people are sleeping on This thing and it's just like I get it People think the tokenomics are bad but That's why I need more data I need to I Need I just I need to see how humans Behave but to this point I'm not seeing This man a massive pan uh Panic uh just Offloading selling that people have been Anticipating and I think that's because Again in order to get the coin so that You could sell them you have to hold Them in the first place which means You're probably like me and you're here For the long term so that might be a you Know something that people aren't Sufficiently considering but as far as The quantity held by coinbase Um Neil hartner retweeted what I shared With you from coinbase Neil hartner is a Ripple employee and he's actually Working on on the query stuff so he's Self-described as senior staff software Engineer at Ripple working on on-demand Liquidity cross-border payments And so he wrote this is interesting it
Would mean 4 billion xrp was held on Coinbase at the time of the flare Snapshot that's about 8.8 percent of Total circulating uh xrp that was held On coinbase at the time The impact of the coinbase D listing a Month later was significant So I didn't know that to be the case I Think there are certain wallets that are You know understood to be coin bases Obviously but you know could anybody say With certainty that we know them all Well I I don't think so not that I'm Aware of anyway somebody can correct me If that's not true that's fine Um I'm just not aware of it if that's The case so you know to do some Backwards math here you just kind of Figured it out and the way to figure it Out of course is for every xrp that you Held you'd get uh 0.15 flicks so 15 of Whatever the total amount of extra be Held on on that data during the snapshot Um that's a huge chunk of xrp that's Absolutely gigantic and you know it's Interesting to think that xrp ran up to Almost four bucks it's all-time high Half a decade ago at a time when Coinbase wasn't offering xrp so I'll be Curious to see what this looks like uh You know once xrp is relisted inevitably Which I think is most likely a good car Anyway Not literally inevitably but I think
Most probable and it'll be interesting To see what happens as more participants Are available so It's going to be an interesting timer But that's a massive quantity and this Many more people jumping into crypto I'm Just saying with way fewer people in Crypto over half a decade ago and it Still ran up to four bucks now that There are way more humans and xrp is About to be the only one with Clarity And there's way more humans in crypto Now and we're entering a bull market What do you think is going to happen I'm Bullish on xrp for so many damn reasons And then there's this from you today Ripple's top lawyer highlights sec's Recent Supreme Court loss Ripple's general counsel Stuart alderati Highlight recently highlighted the U.S Securities and Exchange commissions Losing streak in the Supreme Court with Five losses in their last six cases in His tweet aldarati noted the most recent Case secv Cochran decided on April 14th The case Securities and Exchange Commission at all the shell Cochrane Centered on the question of whether Federal district courts have Jurisdiction to hear challenges to Unconstitutional aspects of federal Agencies administrative proceedings in a Unanimous ruling that's rare unanimous Ruling the Supreme Court held that Texas
Accountant Michelle Cochran had the Right to challenge the constitutionality Of her administrative law judges removal Protections in federal courts before Undergoing an administrative Adjudication folks unanimous in the Supreme Court is not particularly common Let's say not particularly common here But here every single one of them just smacked the SEC as they should be Absolutely deserve it Now that's this is just astounding and So look I think this is an illustration Of the degree to which the SEC is Completely out of control they they the Egos on these complete and utter asset Pricks they think they can get away with Anything and so they actually try they Start to believe their own crap because They're probably saying all sorts of Douchey stuff and their little douchey SEC Echo chamber in the office hanging Around the water cooler like little and uh but but then when you get Into the real world and you're actually In court what happens you get your Little ass smacked out that's That's just how it is and so there was This tweet from February 20th in which Stuart aldoradi wrote The Following so This is the first one 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 and then You have this one now this is the latest Update again from April 14th Stuart Odorati wrote update the SEC has lost Five of its last six cases in this Supreme Court secv Cochran gotta Freaking love that So look when it comes specifically to The secb rebel case I'm just telling you This supreme court with the current Makeup they are not going to put up with Jurisdictional land grab when there's Government overreach given that the Political makeup here like I'm just Folks I'm not not trying to make this Political I'm just telling you those is Good for you no matter what your Politics are I'm not getting into the Politics this is not a political Channel That's not the reason I'm saying this I'm just saying it's good for any xrp Holder that the Supreme Court is the way It is for this particular case Unquestionably true that is absolutely The case SEC is going to get raked over The coals if it comes to this Now there's this from the daily huddle Twitter partners with investment Platform etoro to offer crypto and stock Trading and I just wanted to mention This as a blurb
Um this the news on this broke the other Day and I tweeted about it uh you know Shortly after it broke but I just want To at least mention it on the channel Like we are engineering a very fun time It's it's called bull territory my Friends have you ever heard of this have You seen or heard about this bull Territory And you know when you're opening up Crypto markets you know offering ease of Use on a massive scale like this it's Things like this that have like an Incalculable positive impact Because you people it just it's you know Be the same thing as if there were a Spot Bitcoin ETF available on like NASDAQ or New York Stock Exchange you Know people like they heard about crypto Even if they're not that against it Maybe they just haven't you know waded Into it uh set up unaccountered this Weird little crypto exchange I don't Know but then if there's suddenly you Can get exposure because they can buy a Bitcoin spot ETF on the New York Stock Exchange then these people that don't Hate cryptoness they're like huh well Maybe what the hell it's right there I'm Already on my own platform and I'm Already logged in yeah I can just buy it Now Well you know Similar concept here with etoro and so
My understanding is that Twitter would Basically act as a portal to access to To give access to etoro Um so certainly makes it a lot easier Than it would otherwise be it's just one More thing to look at as we're entering Bull territory here And then there's also this Trader who Accurately called 2022 crypto bottom Rules out new Bitcoin lows but there's a Catch a crypto strategist who accurately Predicted the 2022 Bitcoin bottom says That new bear Market lows are not in the King crypto's future However the pseudonymous crypto Trader Don alt does tell his 476 400 Twitter Followers that at bitcoin's current Value of thirty thousand two hundred two Dollars it's risk reward investment Ratio is undesirable so check the edible Look and I'll say this I'm not interested in like I hold Bitcoin I'm not interested in buying More Bitcoin to be honest with you Because I understand the real the real Profits are to be had in all coins at This point Bitcoin there's already so Much money in it at this point I think There will be way more money going don't Get me wrong I think it's a positive Investment I'm Gonna Keep Holding Because I like diversity but the real Money is to be had in the all coins Because there's so little money in there
To get this tremendous multiplier effect It doesn't take as much but here's the Quote pretty simple for me I think in Between here about thirty two thousand Dollars in the upper range about sixty Thousand dollars is where most of the Risk and very little reward is we won't Make new lows in my opinion so the Closer you get to buying uh to the bear Market line the better and so that's the Question like is it going to go down Though I mean it's gonna go down to that Screen because like I've been saying for a long time the Bottom isn't outside of my out of my one Caveat I'm always going to have this so No matter what's Market cycle we're in If there's a Black Swan event there's a Black Swan event maybe gonna you get a New low Outside of something like that though no The low is in you can see it if you look At on-chain metrics you know uh Attitudes regarding messages Communicated on social media technical Analysis look at whatever you want to Look at It's clear at this point the bottom is In and I'm Yes I'm saying that with a high low of Confidence I don't literally mean 100 And fine at a small probability with 10 Percent that that perhaps it goes to the Downside we actually see a new low I
Just don't think that's remotely likely So If I want to be precise I should not Speak in you know with finality on that Fine fair enough I'm getting I'm getting Exuberant folks I'm getting exuberant But it's fine but the point being It is not remotely likely that we're Going to see something like that So I'm feeling good Let me know what you think folks I'll go Ahead and wrap up here though I am not a Financial advisor 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 Family sedan
