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Hello this is Matt on the moon family Sedan Channel I'm going to share with You some of the latest comments from Attorney Jeremy Hogan Attorney John Deaton and some stuff from Charles Gasparino A Fox Business journalist of Course and it's spawned some interesting Article content all over crypto media Including this headline from the crypto Basic brand spanking new from today you Smell that it's got that new crypto Article smell which is really just a Just glue and chemicals but anyway the Headline is crypto Community sees Bloodbath if Ripple loses crypto trial Of the century here's why and I'll just Tell you that it is completely absurd to Me completely absurd that it's Reasonable to worry about the fact that Bitcoin might be the only cryptocurrency That's allowed to be bought and sold in The United States if they look if the SEC actually gets its way and you see The the totality of the conclusion that The SEC quite clearly wants it's not Reasonable to think that actually no I Don't think that it's going to come to That I'm not saying I actually think It's going to come to and there's a lot Of a lot of stuff that would unfold Between here right now to there and I I Do not think that's actually going to Hit but what I'm saying is the fact that We can even reasonably talk about that
Is completely absurd to me and then There's also this headline from you Today if Ripple loses SEC case here's Likely outcome for xrp attorney Jeremy Hogan they share something that he says But um before going further don't 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 right I'm just an Enthusiast who enjoys making YouTube videos about crypto related Topics but just as a hobby and just for Fun now um I think it's also worth Noting here that if Bitcoin ends up Being the only safe cryptocurrency on The entire damn planet in the United States that it's because they don't know Who to sue they be in the SEC that's it Satoshi Nakamoto Anonymous therefore you Sufficiently hit now you get to exist That's pretty much it so if the creators Of xrp or pick your crypto had been just As Anonymous perhaps we wouldn't have to Have these fears which just further Illustrates this point that it's so Stupid s-t-o-p-i-d stupid that there is No path forward for somebody to create a Cryptocurrency and then it's ultimately Reach a point where it's you know it's Uh transactions if it don't register a Kind of some sort of unregistered Securities transaction which makes me
Think back to SEC Commissioners uh Commissioner Hester purse's Safe Harbor Proposal which I think is on the right Track and there are other Governments around the world that Straight up classify various types of Cryptocurrencies and one of them isn't You know we're not talking about Security we're talking about utilities Coins for example you know like the the UK's Financial conduct Authority so There are ways to have reasonable Clarity so that you don't kill an entire Damn asset class but that's not on the Radar as far as the SEC is concerned Anyway so if things don't go well in the Secv Ripple case I'm going to be Worrying about you but I'll be worried About all of my crypto not just xrp and I hold about 30 different coins and I Mean I am worried about them even today But really what I'm saying is if things Don't go well here I'll be increasingly Worried substantially more worried about All of my other coins I understand that Investing in crypto is risking there's a Chance that even without the SEC like Things go horrible for me and perhaps I Just lose everything and it all goes to Zero okay fine I don't think it's gonna Happen but I'm just saying in theory it Could but I'm much more afraid of the SEC resulting in me hitting that zero Dollar in zero centenario I'm much more
Worried about the SEC resulting uh and Me having an entire loss of my funds Compared to what the markets do Um and look again I'm not saying I Actually think it's going to come to That it's just a shame that we actually Have to talk about this but even if Things don't go well for ripple there's Still the opportunity for appeal And it seems to be the case that a big Part of the strategy especially in the Way that uh Ripple lawyers wrote what They wrote uh was for an appellate court You know above the district court that We're seeing what we're you know judge Torres will ultimately rule So they're playing the long game in case It comes to that Um but uh let me share with you what Spawned this article where we're talking About a potential blood path because Frankly again it's not just excerpt the Xrp community that is going to be really Really upset it's everybody in crypto Except for perhaps the Bitcoin Maximalists although even then yeah you Know it's there's always that wild card Where the SEC actually does go and push For uh you know push for claims that you Know the miners those are that's the Common Enterprise and the uh in the Bitcoin scheme you know so you could try And satisfy the Howie test I mean SEC Officials back in 2015 were talking
About that and then look I don't I don't Want that to happen I don't think it Should happen I'm not thinking that it Even is likely to happen I'm just saying that all of this is Completely absurd and we shouldn't even Have to be talking about this damn it But here's what's would spawn this there Is a this this comment from Fox Business Journalist Charles gasparino and he Wrote The Following Breaking crypto Community sees a Bloodbath if SEC prevails against Ripple In the form of more regulations slash Oversight that will impact nearly every Sector including the exchange Biz given Ginsler's desire to force registration Of every coin but Bitcoin we discuss now On Fox Business so Um yes it's pretty clear that and it's Increasingly being accepted that uh Gary Ginsler is going to come down on every Aspect of crypto this is not just an xrp Community thing it's gonna be coming After coinbase and binance us and up Pick your exchange it doesn't matter Not that they're doing anything wrong But they're going to come after them And every other coin on the planet and Bitcoin gets the free pass because they Don't know who to attack that's pretty Much it now Attorney John Deaton Responded and said if it wasn't for Fox Business Eleanor Terrace Charles
Gasparino Liz Clayman and Charles Payne Much less attention would have been Given to this story which is shocking to Me describing the Ripple xrp case as the Most significant non-fraud enforcement Action since 1946 is not hyperbole That's absolutely correct and so I Understand a lot of people are you out There and I don't blame you upset with Charles gasparino but even if you're one Of the people that's upset with them Fair enough it's not like I'm thrilled With everything that's happened but not To get into that thing I just want to Say It's still very fair to recognize that Despite that if not for Charles Gasparino's uh you know decision to jump Into this and bring Fox Business into This there would be a lot less light on This story of tremendous consequence It's unquestionably a gigantic net plus That Charles gasparino has jumped in Here now um attorney Jeremy Hogan Responded to that same comment from Gasparino and he said the sec's case was Weak and ill-conceived from the start Ripple put up the best defense money can Buy Ripple is literally the crypto Community's Jet Li if ripples kung fu is Not good enough no one's is Okay so that Point's certainly not lost On me don't forget I mean gosh the Representation that Ripple has here
You're talking about former high-ranking SEC officials including a former SEC Chair who was an attorney who is leading The charge now on behalf of Ripple Against the SEC You know you're talking about Brad Garlinghouse's public estimate that by The time this is all said and done about 100 million dollars is what Ripple will Have spent with the best firm arguably On the entire planet the best Representation that you could possibly Have If Ripple can't pull home a win here for The entire crypto asset class that no One was going to probably in all Likelihood And and again I'm still optimistic that What is Right shall be done here even if To whatever degree Ripple is uh harmed With some sort of fine this or that Because to me a true win as an xrp Holder will be a path forward for xrp's Existence in the United States in a way That's not going to harm xrp holders to Me that would be the win so even if even If the SEC had a technical win because Ripple was found of you know had XYZ Violation this or that okay fine I I Like I think even Ripple will be happy To live with that it's just like give us A damn path forward here And then an xrp Community member Responded to Jeremy and said Jeremy are
You prepared to consider that all Primary sales of crypto tokens between Companies slash producers and the Exchanges they use to distribute them Should be classified as Securities Offerings attorney Hogan wrote The one thing I've learned the past two Years is that the uses of crypto are so Varied nowadays that I don't think our Classification scheme makes any sense Well here I bet we could probably all Agree with that statement which is why As I was stating earlier in the video This is just one example but the UK's Financial conduct Authority you know They declared over there that xrp Literally is a utility token there is no Such thing in the United States there's No such classification system So outside of that well if you're not Going to allow the technology technology To exist you're going to shoot into an Existing framework then you just destroy The technology and again I don't think The worst case scenario happens it's Just ridiculous that we even have to Talk about this these people are the Worst Then there's this headline from you Today if Ripple loses SEC case here's Likely outcome for xrp attorney Jeremy Hogan and the stems from a tweet that I Was actually tagged in as well by xrp Community member uh Michelle Nightingale
Who wrote plain Devil's Advocate anyone Know what realistically happens if judge Taurus actually deems xrp to be a Security Brad garlinghouse already said They'd move abroad so what would be the Scenario for xrp holders Well I mean if you're talking about a True disaster scenario it depends like If you're talking about where all Appeals all everything's been exhausted And that just is the state of things Well then everything xrp in the United States is dead and and so what's that Mean for xrp holders I don't know I Guess I moved to a different country I Don't I mean I don't know I'm not sure What I do to be honest with you on a Personal level here Um I did actually respond to her because She tagged me in this and I wrote I Would uh I would Rebrand from Moon Family sedan to Moon public Transportation and that's pretty much a Certainty at this point Moon public Transportation Um here's what attorney Hogan had to say He said the U.S accounts for 25 Of world economic activity so as a rough Guesstimate xrp would lose he meant to Write the word lose xrp would lose 25 of Its utility question mark uh Fair guess But I would look at it a little bit Different than that Um I think in terms of well I know
Actually I'm going to say this in terms Of trading before the lawsuit I know That the the number was something like 90 to 95 percent of trading of xrp was Already outside the United States in Terms of real world utility I don't know That anybody's even tried to compile any Sort of study or survey anything along Those lines to show where the utility is And then how would you actually like to What degree would you wait various Utility this or that in terms of what Um but just in a general sense we're Just talking conceptual here which I'm Happy to do in terms of where is most The xrp utility taking place it's it's Probably fair at this point to say Outside the United States because even Before uh on-demand liquidity quarters Are shut down even you just want to talk About what Ripple was doing with xrp Well you know even before that Um uh you know fine but it's it's Clearly the case that if you just look At on-demand liquidity it continues to Blow up in a very positive way it's just In terms of adoption just explosive but That's all outside of the United States And so I I don't think it really has so Much in terms to do I don't think you Can just equate here's the United States Economic activity therefore xrp is Equivalent necessarily Um but in terms of actual utility I'm
I'm willing to Hazard a guess here that Most of it was was always outside of the United States again I know the trading Always was because it's a truly Global Decentralized thing uh but now that xrp Has just been hammered to the United States probably just about all of its Utilities outside of there and it's Still hanging out in the top 10 cryptos By market cap so I don't know for me I Just you know if it comes down to it I'll just hold it as long as I can and Then if it's ever worth a fortune in the Future which I anticipate it will be Even if we get a doomsday scenario in The United States Um I'm just gonna my plan is just to Hold on to it Um you know and hopefully find a way to Unload it at some unknown Point Somewhere in the future I don't know What but I don't know what that's gonna Look like so what does that even mean I Don't know I'm just living through it Like the rest of you guys here again I Don't think it's going to come to that But it's worth talking through all this Stuff here But xrp is not going to cease to exist And so that's the good thing even though I do think that if we get a disaster Scenario ruling from Judge Torres fair To presume that the price of xrp in that Moment may tank uh xrp is going to
Continue to be useful I don't see any Reason it wouldn't be I mean even if Ripple moves outside of the United States which I think they would well They're still creating on-demand Liquidity quarters they just won't be Able to create one that touches the United States if it's using xrp so xrp Would continue to get adoption that way On every other part of the world and all The other UK use cases still stand they Just can't operate in a part of the World where 25 percent of the world's Economic activity exists which is absurd To say But it would still exist so I I'm not Actually worried as much about the Long-term viability yes I do think you Could see a dramatic crater and xrp Price to get a disaster ruling but for Me like I already told you what I'm Doing and this is not me telling you to Do this you do whatever you want I don't Care but either this thing is gonna be Worth a fortune in the future at which Point when I'm insufficiently enticed I Sell it or I ride the to zero and If xrp becomes worth zero Soviet and my Life goes on and that would suck that Would really suck especially if it's be Look if it fails because it just isn't Getting traction that's one thing I'll Live with that but it would be really Disturbing if it were because of a
Government agency but I don't think That's going to happen not on a global Scale it could wreck stuff for us here In the United States but man So what a crazy time to be in crypto Right now with all of this uncertainty It'll be interesting to see how people Back look back on this time period once Once there's full hindsight if you go Like another you know 10 years 15 20 Years what would people be saying about This time I wonder which things are Going to seem obvious that perhaps Aren't even obvious to us right now in Terms of how this unfolds to what degree Is Kim jong-ins are going to have built His demon Empire of complete control Over the crypto asset class We'll see we'll see folks I don't have All the answers but these are these are A lot of things that I've been thinking About and those are things that the Attorneys within the community have been Thinking about you let me know what you Think I'll even wrap up here I'm not a Financial advisor you should not buy Yourself anything because of anything I Say all right that would be a very very Bad idea until next time to the Moon Family sedan
