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Hello this is Matt on the moon Lambo Channel the xrp community has been Warning about this literally for years The first day that we found out the SEC Was suing Ripple and as a result Attacking all xrp holders we in the xrp Community started saying Brad Garing House said it right away too credit Words too we were all saying this isn't Just an attack on Ripple this is not Just an attack on xrp holders this is an Attack on the entire crypto asset class Full stop and what we've seen unfold in The years since then has provided Nothing but Vindication for such Viewpoints unquestionably that is what Happens and we're seeing more of this Today you may have heard by now I'm Going to get you caught up to speed on The specifics in case you hadn't heard Though the headline from coin Telegraph Unis swap price tanks 10% as team vows To fight SEC threat and it's actually Down worse than that at the time that I'm recording this know though at least To this point not as bad as what we saw With the drop of xrp maybe marks are Getting used to this type of BS maybe um But um you know I'll just I'll just tell You this Here it's very clear to me that Executives at at Unis Swap understand at this point in time And I wish that they hadn't been silent
Back then but I it's very clear that They understand the degree to which Ripple has paved the way forward for Everybody else that is GNA have to fight Against the SEC in fact Unis sw's Chief Legal Officer as the news broke put out a full Thread and mentioned Ripple in it and I'm going to show you exactly what he Had to say about It but this is insanity it must stop the Good news is SEC is on the wrong side of History but um as satisfying as the Vindication is for all of us in the xrp Community cuz we were right we obviously Were right I'm still what I feel more Strongly than that is just disgust for What this government agency has been Doing because I hold a lot of different Cryptocurrencies and all of this is Harming my opportunity for life-changing Wealth all of this is I don't want other Coins attacked none of them the SEC is Acting far outside the scope of of what They're how they're allowed to uh Regulate per Congress but before going further I do Want to be clear 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 Enthusias to enjoys making YouTube Videos about crypto related topics but
Just as a hobby and just for fun Remember this fun headline folks there Many like it all over the world this One's from December 23rd of 2020 from CNBC cryptocurrency xrp plunges 25% after SEC files lawsuit against RI Rle this hared all of us and a lot of People are too busy mocking us to Recognize the very real threat to those People who were mocking us here you can See Unis swap at the time I'm recording This down uh over the last 24 hours down Right at 16% Now so not as bad as what we saw with Xrp um now xrp obviously ended up Tanking way more than 25% because at the Time and I'm pulling from memory here so You guys can get the specifics if you Want to fact shopping that's fine but my Recollection is ex was like 56 or 57 Cents when the news broke got down to as Low as maybe depending on what exchange You're looking at 16 or 17 cents so Easily a good 2third of the entire Market cap the entire value of xrp in Terms of price just wiped off the face Of the Earth to the tune of um I keep Seeing the it might have been $15 Billion I I'd have to look it up it Doesn't matter the point is it was a ton Lots of real harm here so why isn't this As bad for UNIS swap well couple things Here this is there was a Wells I'll get To the specifics in terms of what was
Actually filed or what the assertions Are but it was a Wells notice so that Could be a factor a Wells notice just Means that there's an intent from the SEC to file the lawsuit but let's be Real if they file a law file a a Wells Notice that's it's going to happen There's going to be a lawsuit it's just The case that the five Commissioners Must vote on that but look at who the Commissioners are yeah it's going to be Easily another 3 five vote that would be My guess in favor of bringing this Lawsuit against Unis swap but you could Say since it technically hasn't happened Maybe that's a factor you know what I Think a major factor is though is that Because of the Bold fight that Ripple Put up along with the the entire xrp Community I think that's instilled a lot Of confidence that since the SEC lost on The point that actually mattered xrp is Not of security I think that's instilled Confidence here so maybe people are a Bit less scared than um than if that Hadn't happened so yeah we were Basically first out the gate I mean the First major uh you know in terms of like A large cap coin getting attack yeah That that was it that was the first real Battle uh we're already through on the Other side better for it going into the Bull run so that part's fantastic but uh Unis swap is going to have a multi-year
Battle here in all probability that That's what's going to happen but I I Think that speculators are a lot more Confident now than they would have been A few years ago like say Unis swap for Attack first well I'm sure it would have Tanked and price way more than this so There are a couple things there here's a Post from my fellow xrp YouTuber the Bearable bull the xrp Army warned the Rest of crypto this was coming instead They cheered as Ripple got sued I Remember when attorney Jeremy Hogan said You'll be glad that xrp went through This first xrp is now free as every Other crypto is in the line of fire of The SEC suffer like we did with a little Shrug Emoji the punishment is the time Wasted Yep and and you know not that I want Others to suffer and I don't think that The bear Buble actually wants anybody Else to suffer too but his point Certainly not lost to me or any of you Listening I'm Sure uh because look we all hold a bunch Of different cryptocurrencies I don't Think any of us are actually like an xrp Maximalist right those don't they're Bitcoin maximalists I I think I've seen Like one xrp maximalist ever where it's Just no it's xrp or bust it's bad to be A maximalist of any coin though and so No we don't want the other whole the
Holders of other coins and stuff we Don't want other projects to be attacked But it is the case and we were warning And the thing is is if others had acted Uh who knows if if there wasn't so much Tribalism that what degree things would Have been different now obviously Ripple Still would have come out better for This xrp would still not be a security Because we're on the right side of History there but what else could we Have gotten going if we had a more Tremendous push as an entire crypto Community rather than just the xrp Community what if there were less Tribalism well I'll tell you this you Know given that the SEC gets its power From Congress there could have been Stronger pushes over the few years Pushing back against them changing Things could have potentially set things In motion who knows if we were United to That degree because there there are all Sorts of people in the world of crypto And there have been for a long time that Are very rich very powerful very well Connected and they are sideline not Commenting or at least not commenting Favorably about anything having to do With xrp and the Ripple lawsuit but they Could have been how different would Things look today well we'll never know It would have been better than this Though and so then you see here's a post
From altcoin daily 1.5 million followers On X one of the largest crypto YouTube Channels in existence I checked it Before recording 1.45 million Subscribers and here's part of what they Wrote the SEC just declared war on Crypto Unis swap is the largest Decentralized Exchange in existence as Over $2 trillion doll in total volume Since its launch in 2018 my friends this Is the type of bias that is Gross they just so this was the day they Declared the declared war Now are you serious do you know what Happened in the secv Ripple Case are you are you are you typing this With a straight face are you K like and They know that it's just the case this Particular account here altcoin Daily they they for years they've been Ripping on xrp so they're just Pretending like all of history didn't Even happen to their over a million Followers and Subscribers that's kind of gross here's Another post from them first they came For binance to protect us next they came For coinbase to protect us now they come For UNIS swap to protect us when they Missed FTX Celsius and three ARS Capital Completely face palm Emoji that's not Quite right and the beable fixed it he Reposted that and said first they came For ripple fixed it for you yes spot on
I was thinking the same thing when I saw That post thank you barable bu for Taking care of that my God this is why We can have nice things Folks and then there's this from Attorney Bill Morgan he said xrp was 8 Years old when the SEC sued Ripple that Is the way wait until they are Successful and then sue them for Billions yeah that's exactly what Happens they wait until there's money to Be had so that if they can trick a judge Into ruling an incorrect way uh they They they get the cash priz that's Pretty much it it's it's it's disgusting And immoral but it's what they're Doing here's a post from Marvin and Moray Marvin is the chief legal officer Over at Uniswap and I'm not going to read the Whole thread just for the sake of time Here but I want to read the top part Because he does talk about what happened In rly R today's Wells notice against Unis swap is disappointing but is not Unexpected from this SEC it's another Abuse of power unsurprising from an SEC That last month a federal judge ruled Committed a gross abuse of power by Lying in court about a crypto project in Ripple a judge ruled didn't act out of a Faithful allegiance to the law and folks That's my favorite line that's my Favorite uh smack against the SEC
In that entire in that entire case that Was that was just fantastic I I'll never Forget it I need to I need to have that Printed up that page from uh from the The actual legal document that the judge Presented and just I need to print that And frame that and then just highlight The relevant portion right and just slap That on my wall I can just read it every Single day it's it's that good it's Fantastic and and it's it's just that That doesn't normally happen it shows You the degree to which the SEC is Complet the SEC is completely off the Rails here anyway Marvin continues in Grayscale three judges ruled uh broke The law in denying a Bitcoin ETF having No reasonable and coherent explanation Which is another quote there in our case With Unis swap the sec's argument are Particularly weak the SEC has Authority Only over Securities not any asset Represented by a particular file format Format or technical standard most tokens Are clearly not Securities EG Bitcoin Eth stable coins mcoins nor generally Are secondary Market transactions per The Ripple opinion and so here we go uh Our community Paving the way I just I Don't know if this guy I spoke out about The secv Ripple case maybe he didn't I Just didn't see it but I don't remember Seeing anything from Unis swap was there A Unis swap uh Amicus brief was did that
Exist I don't recall that I don't recall Seeing that now that being said I do Still think that we all should come Together I mean it's fine have a little C I told you so because we were right But we do still need to come together as A crypto community and and push back Against all This uh here's a post I'll just read the Top part just for the sake of time here This comes from uh Hayden is the Inventor of Unis Swap and he wrote The Following today Uniswap Labs received a Wells notice From the SEC I'm not surprised just annoyed Disappointed and ready to fight I am Confident that the products we offer are Legal and that our work is on the right Side of history but it's been clear for A while that rather than working to Create clear informed rules the SEC has Decided to focus on attacking longtime Good actors like Unis swap in coinbase All while letting Bad actors like FTX Slip by okay where was this crap three Years ago I mean of course he's right of Course he's right we've been screaming This literally for Years so let's go through some of the Specifics from the coin Telegraph Article here Unis swap the token for the Decentralized exchange of the same name Sunk to a six- week low after Unis swap
Said it received a proposed lawsuit Notice from United States Regulators Which it is ready to fight Uh un and I uni which is the ticker Symbol dropped 10% from $11.21 to $10 in the half in the hour Rather after Unis swap said it received A Wells notice from the Securities and Exchange Commission a notification that The regulator is planning enforcement Action uni is currently trading at $966 its lowest point since late February according to coin Telegraph Markets Pro I'm not surprised justo Disappointed and ready to fight the the New York based Unis swap Labs founder Hayden Adams wrote in an April April 10th expost this fight will take Years And may go all the way to the Supreme Court folks that's right and we're going Into a bull market uh sucks it sucks but We at least are on the other side of That going into a bull market so as Awful as it was for us last time Around oh pra the Jus we are clear right Now we are in the clear I feel so I feel Great about that I don't like seeing Them get attacked but I feel good about That at least we are through this damn Thing that is real this is real life xrp Declared not a security last summer Ain't going to change anyway peace Continues Unis swap didn't share the Exact contents of the wells notice but
In a blog post regarding the notice Claimed uni wasn't a security and it Doesn't meet the US legal definitions of Securities Exchange or broker an SEC Spokesperson told coin Telegraph it Doesn't comment on the exist or Non-existence of a possible Investigation consensus senior counsil And Regulatory matters director Bill Hughes wrote on X clarifying that SEC Staff have to first get the lawsuit Approved by the agency's five Commissioners inclusive of chair Gary Ginzler we all know that the chair wants To sue them and two Commissioners are Not going to disagree and two will Disagree Hughes wrote so a suit is a Foregone conclusion but there isn't a Suit yet here we urged those freaked out To take a breath and calm down as it was Extremely doubtful the SEC would Target Uni holders or protocol Users former SEC internet enforcement Chief John Reed Stark wrote on X a Wells Notice gives the recipient an Opportunity to argue why the Commissioners should decline a Recommended lawsuit yeah by the way uh How much do you want to bet that they're Going to Trout out the embodiment Theory How much you want to they're going to do That again as they did in the secv Ripple case xrp no no we're not xrps a Security it just embodies all of the
Things that would make it a security Which is the same thing as saying we the SEC believe that xrp or picker coin is a Security how much you want to bet They're going to bring bring that Argument back out I would not be Surprised I would not be surprised in The least if they do That well because they haven't dropped That in other cases they're still Arguing that in other cases now and it's Just funny they argue that in the secv Ripple case then at the end after they Lost like oh no no no we're just it's Just computer code of course we're not Going to appeal that that portion of What judge Tores said no no no we're not Going to appeal that it's just computer Code with no inherent value remember That what a bunch of ass hat bricks man P continues he said the notice Unis swap Was not surprising and is always amazed When Wells notice recipients fight back By throwing stones at the SEC with Obnoxious insulting PR campaigns like The one Unis swap seems to have begun Any SEC lawyer will agree that Responding to a Wells by berating the SEC calling them names Etc is a weak Risky and losing strategy I disagree With that now of course he's John Reed Stark I'm I'm very familiar with this Guy I don't I'm not convinced that he Believes a lot of the stuff that he says
Maybe he does but it's kind of hard to Believe because it's so extreme he's Very anti-crypto he has a strong bias Against it and he he worked at the SEC So he's a big old X SEC guy and he's Wrong here the sec's name is mud judges Throughout the country are aware of this They understand that all of their peers Their other judges out there have been Just berading them in multiple cases It's not like some sort of one-off Instance they're aware of This you think that this is going to Hurt their Case No in fact the opposite it's a Rallying cry for all of us to get Together and then help to push people in Congress to actually make some damn Changes now right Away and and it's not like the the the Unisat folks it's not like they're being Tacky about this they're just sharing Their perspective and being public about It I've read you portions of what you Know it's like I'm hiding some you know Toddler-like Comments that's not what they're doing They're being Professionals you know I I get to be a Little bit more flamboyant about it Because I run a YouTube channel and I Like to make fun of those ass hat Pricks Because they're disgusting but that's Not how uni Unis swap is behaving no no
They're being just the the professionals That you would expect them to be in Terms of what they're communicating Here so you know this isn't going to go Well for the SEC they're on the wrong Side of History very clearly this is Outside the purview of the SEC ain't Going to go so hot so we'll keep Tracking this but again a little bit I Told You So to the people years ago who Thought that it really was going to Begin and end with ripple no no no no no That was never the Case I'm not a financial adviser you Should not buy 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
