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Hello this is Matt on the moon Lambo Channel I'm going to share with you Something that is absolutely wild it Just happened the other day what you're Looking at on the screen right now is an Updated filing from Black Rock uh filing For their spot Bitcoin ETF there's an Update in here which speaks about xrp at Length and why are they talking about Xrp well it actually has to do with the Concern as Black Rock puts it as I'll Show you the concern concern that the SEC may find that Bitcoin itself is a Security I kid you not that's right Black Rock the world's largest asset Manager with about10 trillion do in Assets under management filing for a Spot Bitcoin ETF is talking about xrp at Length and acknowledging that the SEC Could find Bitcoin a security Insane and this is filed on December 4th Just the other day so check this out but 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 or 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 I came across this because on Social media platform X there was this Post from uh Joe car lasare is that how
I say it anyway he's um he's a Commercial litigator as self-described Commercial litigator supporting Bitcoin and uh and he wrote The Following interesting update to Black Ro/ ishares S1 filing regarding the Concern that the SEC could take an Approach that Bitcoin is a potential Security seems silly but apparently the SEC wants that language in there ah yes Folks so even after all of this if it is Indeed the SEC they want that Flexibility don't they just in case they Want to say that even Bitcoin is a Security and then they're just going to Go after Satoshi Nakamoto right because They know who that is Right and I'll share with you the Specifics but first um let me share with You somebody that posed a question Somebody wrote to Joe car carar caros Car Carar nailed it uh and wrote how do you Know that this language request comes From the SEC and not from black Rock's Legal Team and then Joe responded and said It's in the S1 Black Rock I sharish Shares filed could it have been proposed By the SEC sure but it has been adopted By Black Rock as a potential disclosed Risk for ETF investors it was only Recently amended prior versions didn't Have it um here's what Attorney John
Deon had to say about this and then I'll Get into the actual specifics so you can See just how ridiculous this is but Attorney Deon said almost two years ago I did a video on crypto law quote every Coin is in danger end quot Regarding my view that the SEC was using Dangerous and grossly over Brad language When discussing xrp or any other token I Said as absurd as it sounds I wouldn't Rule out the SEC attempting to claim Bitcoin was a security people dismissed My concern I understood why it still Sounds absurd when I say it in the Ripple case the lawyers for the SEC Stated on the record that the commission Had not taken an official position on Bitcoin or eth despite SEC senior staff Including the chairman saying Bitcoin Wasn't a Security I suffer from confirmation bias Always assuming there is no position too Absurd that the SEC won't take I love That he says this ridiculous language Seems to bolster my M yes I like that he Wrote that no matter how absurd a Position may sound don't assume that the SEC won't take it okay like we've seen What unfolded over the last few years in The secb Ripple case they will just they Will they don't even care they'll argue One thing the next day if they think It'll benefit them they'll hope the Judge forgets what they argued and then
Argue something that's completely to the Contrary we saw this stuff they're Hypocrites we know that whole thing Right uh so what did they actually write Well let me scroll down here because This is a fairly large document right Here um and so here's the relevant Portion this is what I want to run Through with your highlight on the Screen for those you that are looking And and it reads as following as follows And so basically and I'll note that They're um they're they're disclosing This as a potential and so the degree to Which this is an actual risk that's Up For Debate but they're disclosing it and Maybe it's actually pushed through by The SEC and black rocks just a green Acessing thinking okay yeah but this Isn't ever going to happen but who knows Who knows either way it's here it's on Your screen this is a real thing this is Black Rock talking about xrp in their Spot Bitcoin ETF filing life be crazy Man anyway reads this follows any Enforcement action by the SEC or a state Securities regulator asserting that Bitcoin is a security or a court Decision to that effect would be Expected to have an immediate material Adverse impact on the trading value of Bitcoin as well as the Shares this is because this the business Model behind most digital assets are
Incompatible with regulations applying To transactions in Securities and folks Isn't it got to pause to say one more Time isn't it isn't it Ridiculous that black rock is sitting Here acknowledging that we know that Bitcoin doesn't have sufficient legal Clarity but we're filing for the spot Bitcoin ETF even though it doesn't have Sufficient legal Clarity that's an Acknowledgement of that position that's What this is it's more than just that But that is what it is anyway and then They continue and wrote If a digital Asset is determined or asserted to be a Security it is likely to become Difficult or impossible for the digital Asset to be traded cleared or custody in The United States though the same Channels used by non sorry through the Same channels used by non-security Digital assets which in addition to Materially and adversely affecting the Trading value of the digital assets is Likely to significantly impact its Liquidity and Market participants Ability to convert the digital asset Into US dollars so um sum it up they're Saying well if it's declared to security Here might be hard to panic sell and get It out into United States dollars at all So they're just acknowleding in a Doomsday scenario oh that might be Happening your money H and ever seen
That South Park episode where was it Stan that's investing his money at the The bank and then the guys's doing much Stuff and we'll put it here and there Then and it's gone You got to love that Episode H anyway uh then they wrote for Example in 2020 the SEC filed a Complaint against the issuer of xrp Ripple Labs Inc and two of its Executives alleging that they raised More than $1.3 billion through xrp sales That should have been registered under The federal Securities laws but were not In the Years prior to the sec's action Xrp's market capitalization At times reached over $100 Billion however in the weeks following The sec's complaint xrp's market Capitalization fell to less than $10 Billion which was less than half of its Market capitalization in the days prior To the complaint the sec's action Against xrp's promoters underscores the Continuing uncertainty around which Digital assets are Securities ding ding ding and Demonstrates that such factors as how Long a digital asset has been in Existence how widely held it is how Large its market capitalization is and That it has actual usefulness in Cal Commercial transactions ultimately they Have no bearing on whether the SEC or a
Court f a court will find it to be a Security oh my God this is the same crap That we've been screaming for years and So black rocks just sitting here Agreeing with what our community's been Saying yeah there's not sufficient legal Clarity here's all the things and you Don't know for sure what the SEC might Assert or even a court Necessarily wow this is wild stuff here And so they're recognizing because again This is about risk disclosures right and So they're acknowledging the degree to Which the sec's decision destroyed the Financial well-being of xrp holders and They're just noting yeah and this could Happen if you're a Bitcoin holder too It's John Deon was talking about this Literally years ago and even if it's a Low probability and we can talk about What the probability we can speculate Whatever it is and nobody knows for sure If it's going to Happen like the point is it it's Destructive it's a known quantity here And they're just saying this could Happen to bitcoin holders because it Already happened to us here in the xrp Community well how about that and then They Wrote In addition if Bitcoin is Determined to be a security the trust Could be considered an unregistered Investment Company under SEC rules which
Could necessitate the trust's Liquidation in this case the trust and The sponsor may be deemed to have Participated in an illegal offering of Securities and there is no guarantee That the sponsor will be able to Register the trust under the Investment Company act at such time or take other Such actions as may be necessary to Ensure that the trust activities comply With applicable law words are hard Applicable law which could force the Sponsor to liquidate the trust Right so they're saying here it could be Necessary to just take the whole thing Out totally destroy it and you know what Makes this even more absurd and we've Seen a scenario like this actually it's Sort of conceptually it's the same thing Anyway where like if the spot Bitcoin Black Rock Spot Bitcoin ETF is approved It's approved by the SEC so if the SEC Approves it this would mean under such a Hypothetical that the SEC came back After approving the damn spot Bitcoin ETF they came back and said oh actually Bitcoin's a security and then it just Wrecks everybody financially and they Have to liquidate they're they're saying That's an actual warning that's a thing The SEC could do that's what black rock Is Saying now it's not it's not Unreasonable to think that this could
Happen I'm not I don't I mean I don't Think it's likely to Happ to be honest With you but it's not unreasonable to Think it could happen because what did We see with coinbase coinbase's IPO was Approved by the SEC then two years later What happens the SEC sues coinbase How about That what a bunch of awful creatures Over at the SEC and then they said here Moreover whether or not the sponsor or The trust were subject to additional Regulatory requirements as a result of Any SEC or federal court determination That its assets include Securities the Sponsor May nevertheless decide to Terminate the Trust In order if possible To liquidate the trust assets while a Liquid Market still exists for example In response to the sec's action against The issue of xrp certain significant Market participants announced they would No longer support xrp and announced Measures including the delisting of xrp From major digital asset trading Platforms the sponsor of the grayscale Xrp trust subsequently dissolved this Trust and liquidated its Assets if the SEC or a federal court were to determine That Bitcoin is a security it is likely That the value of the shares of the Trust would decline Significantly and that the trust itself
May be terminated and if practical its Assets Liquidated yep so there you go this Black rock waren hey this crap happened To xrp it wrecked their lives might Happen to us buy our ETF Though now look I don't even think that Black rock thinks that this is remotely Realistic that this would actually Happen but it's not Tech technically Outside the realm of possibility the SEC Has done crazy stuff look again look at Them going after coinbase they approved The damn IPO and then they're just going To like my God then they Him crazy stuff happens sometimes folks It does like sometimes the unlikely the Unlikeliest of things actually happens So we'll see Here but there you go black rock talking About xrp warning that Bitcoin actually Could be found to be a security because It doesn't have legal Clarity yet They're moving forward with the spot Bitcoin ETF anyway crazy world we live In seriously crazy world I'm not a Financial adviser you should not buy Yourself anything because of anything I Say are right that would be a very very Very bad idea until next time to the Moon Lambo