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Hello this is Matt on the moon Lambo Channel and this story just keeps Getting more and more wild regarding the Xrp trust that was apparently falsely Filed by Black Rock yesterday uh there Are legal proceedings already I kid you Not things are actually moving Relatively quickly anyway we'll see how Long it takes to get to the truth of This matter but I I'll tell you this I Will not be surprised in the least if Whoever falsely filed this things ended Up making just literally millions of Dollar On the short-term volatility because the Price of xrp went up almost 133% so you Can imagine if you if you buy bun xrp Right before falsely filing this thing You leverage it up and then you sell it As it runs up quickly before the truth Gets out you can make life-changing Wealth now obviously that's disgusting Despicable and these people need to go To prison for a a long time or some Period of time I mean it's at at least a Hot minute I think it's okay say but uh It's very clear at this point and and There's been new evidence that's come Out this afternoon That uh the most reasonable thing to Believe at this point even though people Have been skeptical and I'll explain why Uh the most reasonable thing to believe At this point in time is that absolutely
It was a fraud there are legal Proceedings and with any luck we're Going to find out exactly who it is that Perpetrated this fraud um there's There's perspective even from attorney Jeremy Hogan here noting what I just Cited here at the outset of this video Somebody probably did this for Substantial monetary gain and so I'll Give you all the latest here but uh Before going further I do want to be Clear I do not have a financial Background of any kind I'm 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 enjoy making YouTube Videos about crypto related topics but Just as a hobby and just for fun all Right and so um chip from on the Chain Shared a video clip of CNBC and it was Actually covered this morning that this Filing um was false it was reported by CNBC as actually being false and then it Was a weird segment I'm not going to Play the clip it's not necessary but It's like it was this it was the one of The hosts I think his name is Joe Kern It's like he was mandering around trying To have a coherent sentence it's like His brain broke and then he said Ultimately there's a lot of beefs within The within xrp or something to that Effect whatever the hell that even means
But that went on for probably like 40 Seconds and it's like he's trying to Find a thought but he didn't know what He wanted to say uh I don't know if he Didn't have his coffee in the morning or Something it was kind of strange but They just reported hey uh we they said That they fact checked this and indeed They got in touch with somebody uh so The story is of course it it is indeed Um you know a false filing here but we Had further proof just this afternoon uh So here's a post from James sefor um and Here here he works at you can see works At Bloomberg covers ETF news and other Stuff uh but he had this screen grap Here um covering the latest uh Delaware Refers false ETF filing to State Department of Justice uh B paperwork for Crypto ETF appeared on official website Xrp rallied almost 133% before quickly Reversing gains Delaware officials have Gotten in touch with the State's Department of Justice after a hoax Filing for a black rock Inc fund uh Based on the cryptocurrency xrp showed Up on an official government website on Monday triggering a brief rally in the Token we have referred this matter to The Department of Justice said Rooney Bazar Lopez who is the director of Policy and Communications at Delaware's Office of the secretary of state so There you go I don't think that there's
I don't think it's reasonable at this Point to to think that there's even a You know a tiny little bit of Possibility that this could actually Have been some sort of legit filing from Black Rock now if that ends up coming to Pass my simple little brain will explode Even more than it did yesterday but I Don't think it's a reasonable surmise That that's even on the table at this Particular point in time and so then James wrote for the strange section of Crypto Twitter that believes we and Everyone else are wrong about the black Ro/ ishares xrp trust being a false file And then he just wrote that there and And so even though this was technically A trust just to be clear in case anybody Missed this explanation yesterday or With any of the news today it's a trust But that's that's considered to be a Precursor for an ETF getting filed I Mean it goes back to the strategy that Was has been articulated by grayscale Dating way way way back you know when They launched their um their xrp trust Which ended up getting wrapped up after The SEC suit Ripple but when they had Launched that thing um it was with the Intent same same intent they had with Bitcoin and and their other products to Convert the trust over to an ETF Ultimately um because then obviously you Know the benefits obviously instead of
Just having it be a situation where you Have to have a credited investor so on And so forth it it's a product that Would then be traded on the you know the Likes of like for instance the New York Stock Exchange uh it could have brought Exposure there so that was the plan it's It's a progression that they were going For so even though this was a filing for An xrp trust we know that that we know What the intent there is the game is That you then convert that product to an Xrp ETF ultimately so this was a signal If it were true anyway it would have Been a signal that the intent from Blackre would have been to have an xrp Uh ETF which I still think is in the Cards I mean in terms of whether it's Black rock or other firms I I just it'd Be kind of weird if at some point in the Future there isn't such a product it's Just that this is not that moment in Time um then there was also this uh from Eric balunas he's one of the people that Was reporting this yesterday he's a Senior ETF analyst for Bloomberg and so That's why when this news broke Yesterday because he he he was one of The people that initially was confirming This uh because there is a real filing It's just that it's a fraudulent filing On the website and that's what led to All this uh this is one of the reasons That it was understood to be true and
The price of xrp went absolutely Ballistic in very short order but then He contacted somebody at Black Rock I Don't think he's ever revealed who the Name was whoever his contact was he said No we definitely didn't make that filing Here uh but here he was sh sharing this News as well um now Interestingly as reported by my fellow Xrp YouTuber Alex Cobb the filing which Here is on your screen for those you That care to look uh it he says it's Still on the website and that was as of 359 p.m. central Time at the time I'm Recording this video it's now 4:16 uh p.m. central Time on Tuesday the 14th of November 2023 so why isn't it it Why isn't it down that's a little Strange isn't it because it's understood To be fraudulent it's you know there There are actual U you know the wheels Of Justice are turning we've got looking Into the fraudulent action here but it's Actually still on the website apparently Kind of ridiculous right and so it turns Out that there have been a bunch of People uh from from presumably from the Xrp community largely contacting uh the Delaware entity to look into this and Inquire about the fraudulent claims here And so check this out there was a post From Attorney Fred poy and he simply Wrote If folk started calling the Delaware Division of Corporations asking
It to remove a filing that a black rock Spokesperson in quotes disavowed a Division rep would likely reach out to Black Rock to confirm misleading a Government agency carries big penalties Misleading journalists does not right And so um it's weird so even though There was this report that uh this is Actually false because Eric belunas with Bloomberg reached out to his contact at Black Rock And they found out that it was it was it Was actually just not them that filed it There are still a lot of people that Were thinking okay is this really Fraudulent though or does Black Rock Just not want the news yet uh does not Not want the news out yet because this Thing is still on the website so I can Understand the thought process it's not The craziest thing to presume might be The case uh but as it turns out that's Not exactly the most reasonable thing at This point anyway to presume um but People actually have reached out and so There was this I watched this video clip Before uh recording this video went on For 6 minutes 42 seconds this is Somebody named lowkey money uh Presumably an xrp Al there's somebody That has interest there and wrote I just Called the Delaware Division of Corporations this is what happened and Then he tagged a number of people and he
Spoke with some representative um I Don't know what this person's position Was it might have been a lower level Employee just kind of is you know Fielding the phones and looking in stuff For whoever may be calling and inquiring About various things and um she ended up Um putting on hold after after several Minutes or so and then she came back She's like yes it turns out somebody Actually called about this earlier so he Was trying to find out you you know are You guys looking into this because it Looks like this might be fraudulent and We just if it's fraudulent just this Thing should be taken off the website And she says yes Uh something's in Motion we're looking into it we just Need a little bit of time uh to to to Look into it further here so you might Think it's weird that the thing still on The website but procedurally I mean who Who knows who needs to be informed of What for that particular Le to change And if if you're wondering why it is That this thing is uh is actually still On the website uh I mean I'll I'll just Say this actually let me share with you Something from attorney Jeremy Hogan Here Um yeah so he he and this was actually Last night this is from attorney Jeremy Hogan uh he wrote you can spoof the Formation of an xrp ETF trust it's fraud
But it's actually very easy and just Cost $500 you only need to file two Documents which he attached I'll make Them full screen for see if anybody's Curious you can see uh pay the money and You get a placeholder on the State Website that's all I can tell you other Than good night and so he's saying it's Actually easy so I assumed that it was Going to be more difficult because there You also have apparently it also has to Be notorized so here's one of the forms For those who that care to look and then Here was the other One um so I thought it was going to be More in depth but not actually because The thing is even though they have those Requirements which are on the surface Sound steep uh the only reason that it Would the reason that could potentially Uh be steep is if it's if the Information is actually being verified But they're not so yes you have to do it You have to get the thing noiz all that Stuff all all that's true but they're Not checking to make sure that it's true You could Forge all of it and then They'll just put it up on the damn Website that's the problem and so here There was a separate post from attorney Hogan he said conjecture criminal uh Criminal saw what happened with the eth Trust filing files the RP trust filing Buys $100,000 worth of xrp on Leverage
Sells at 74 C and pockets2 to3 Million or Black Rock has clients who Want exposure to xrp and have begun the Process tomorrow will tell yeah and so Now tomorrow has told um and now we know That it's it's about 100% chance that This is absolutely fraudulent and uh the Wheels of Justice like I said earlier Are now turning here but somebody did This with intent to pocket like what Just just for shits and G like I said Yesterday I just I find a hard time Believing that I think that whoever did This did it with the intent of making a Lot of money that would be my Supposition there Anyway um and then in a separate post Attorney Hogan noted since this thing is Still on the website he said um it Doesn't mean it's verified or anything Just that they've paid the fees Etc uh The states don't have the resources to Check out all these corporate filings it Would be too much work and so I I can Understand I mean there's a bunch of These things is being filed and then It's just understood that even though They're putting it up on the website you Can do a fraudulent activity but it's Probably going to be bad for you because They they I I don't know what detective Work they're going to have to do to get To the bottom of this one but I'm Assuming that there's going to be some
Sort of path that's going to lead them Somewhere right and we'll see what this Looks like presumably there's going to Be something in this because this is Like I mean filing a document like this Fraudulent misleading the government and It causes the price of xrp to go Ballistic on a global scale ultimately Harming many people just that they can Make millions of dollars presumably Anyway or whatever the the dollar figure Would be uh this is not going to be good For them and it's just crazy think that You can make life-changing wealth uh Very honestly in the world of crypto and That that's a real thing that's Available to all of us and people will Still do this stuff man it's freaking Crazy here and so yesterday I posted This is next level manipulation someone Needs to go to prison for a hot minute The impact of the the global price of Xrp and Attorney John Deon reposted that This morning he said this is why you Don't read something on X or other Social media platforms and then run to Hit the buy button spot on attorney de That's right life is freaking crypto is Insane right and I know this isn't Something that's crypto specific it's Like there's a problem with crypto this Is a problem with you know the human Species like this is a defect of humans And it's not about the asset class it's
Just people taking advantage of the Filing system I get that man that sucks Though so that's the latest that's What's happened here and again a bunch Of people presumably from the xrp Community have been calling uh the the Delaware entity seeking you know truth Here and and just get some clarification And hopefully you know get this thing Removed from the website since it it Looks like it's fraudulent by all Reasonable accounts I've seen to this Point but hopefully we can kind of put That to bed because again I understand Why people kind of wanted to see more so What would happen they let things Develop since it is weird that it was on The website and then it seemed as though That the bar was somewhat High to get Something like this fil but turns out It's not hard to get a fil as attorney Hogan pointed out and it's just a Question of you know what are the re What resources does the entity have and They apparently not many appar not much They're actually not verifying this Stuff they're just assuming that if Somebody fraudulant files something in The future it's going to get caught That's pretty much it there so there we Are now all that to say I still believe At some on point in the future there Will be a spot xrp ETF and maybe it'll Be a trust first and maybe Black Rock
Really does file one of these bad boys At some point but we're going to have to Play The Wedding Game it does Seem crazy Right man I'm 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 Lambo
