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Ignition sequence start 6 5 4 3 2 1 zero Liftoff we have a [Music] Liftoff hey everybody this is the Digital asset investor and I just got Back from Washington DC I went there for One day the reason my video this morning Did not cover all of the ethereum stuff Was because I had pre-recorded that Video because I was going to go to DC um and I'll get in I'll get into what I was doing in DC and what happened There um with uh here in a minute but First I wanted to show you this this is A new promo for xrp Las Vegas and Remember uh Brad and I Brad comms and I Are giving away we one uh uh well two Tickets it's going to be you and a and Your plus one to have dinner with us in Xrp uh in Las Vegas when we do xrp Las Vegas we'll have the exact date out here Shortly that we're going to do this but Uh this is to everybody that's listening On YouTube you can um you'll have a Chance as long as you buy a general Admission ticket between now and the end Of March March you'll be entered and We're going to pick one all right here's The new promo the countdown continues to Xrp Las Vegas 2024 May 3rd and 4th is right around the Corner book your room at the MGM Grand And hang out with the xrp community Before and after each conference session
Go to xrpl lasvegas.com for a discount Link to hotel rooms Andy sheckman and Lynette Zang will be on stage talking About gold cbdc and tokenization with The greatest Financial paradigm shift in The history of mankind David Schwarz Will be on stage talking about Everything xrpl including the new amm Set to launch this month all tickets Purchased from now to the end of the Month will be entered to win an all Expense paid private dinner for you and A guest with digital perspectives Brad Kimes and Dai get your tickets now he Took the picture of me like the morning After xrp Las Vegas where I had uh Scruff I had not shaved thanks a lot Brad xrp vas.com don't miss out I saw Molly Elmore at the airport and had not Really gotten a chance to talk to her Much so here it is and I want to tell You all right out of the gate this was I I do not want nor did I want I don't I Don't want Bitcoin to be sued by the SEC I don't want ethereum to be sued by the SEC that has never been the objective if We've said it over and over and over the Objective was to have a Level Playing Field and have the SEC leave all digital Assets alone and let them Thrive and see Which Technologies could rise and do Well and made the best technology win Which would be better for our country But no Gary I think Gary's doing an end
Around here I think that they're going To focus from everything I've seen They're going to focus on ethereum 2.0 And I'll I'll cover that in a second They're going to focus on ethereum 2.0 But not the real the real corruption the Eth gate is from the Henman speech back The Ico the Henman speech there's a lot Of it too and I think that they're Trying they're going to make an attempt To cover it up but I'm not an attorney But Metal law man is an attorney he was On with thinking crypto and he gave his Thoughts on this listen to this weird is Going on here what what do you think is At play is the SEC really trying to Classify e of security and maybe they're Looking to block that ethereum ETF as Well yeah I don't know I just saw the Article uh Today um but as you think about the ETF For instance um ethereum has a good Argument that it looks like the Bitcoin Scenario where Futures were approved and TR trades um actively and you can Measure the correlation between the Futures contracts and the spot trading Of Ethereum um that correlation which is an Important factor that the U DC Circuit Court of Appeals you know found that uh The SEC had been arbitrary and Capricious in in denying that ETF so the Problem for Gary was he's you know going
Down this road with these applications Of finding himself in court again if he Denies the application and he's got a Real tough um uh challenge to explain How this should be different and for Those of us who' thought a lot about it Really the the best way the only way out There would be to say yeah Bitcoin was a Commodity ethereum is a security and Therefore you can't have this um spot ETF now now this there's a little Nuance To this um Tony so you can have Securities held in in a truck in an ETF Trust the pro the problem is ethereum is An unregistered security that cannot Trade unless there's some sort of Exemption with that applies to the Holder of that security And this this gets into a long esoteric Discussion but PR ethum or whatever They're called is pretending like they Can somehow trade ethereum even if it's A security and they're they're trying to Declare it a security but for me as a Security lawyer that does not work it's An unregistered security and there's no Way you can monitor whether there's Exemptions from that the seller has an Exemption that applies just as a Practical matter you can't do that and So this is the way if Gary wants to stop The ethereum ETF this is probably the Best strategy to do it and if he does There are tremendous collateral
Consequences if they place the big black Cloud over Ethereum you know like they did over Ripple for Years big black it's hard to Predict you know what the consequences Would be of declaring that an Unregistered security when you've got All of these projects built on top of The ethereum blockchain and if it is Fundamentally um you know the operation Of transa you know transactions in an Unregistered security that's illegal you Know without an exemption and so it Would be an absolute mess but again you Mentioned politics you know Gary took Took a a beating for approving the the Bitcoin ETF and he's already been put on Notice from some of the progressive Constituencies that he better not Approve another asset ETF digital asset ETF and so he's uh between a rock and a Hard place and he's got to deal with That bill Hinman statement saying it's Not as security and where that statement Came from and what it was based on all a Sudden Bill henman's coming back up all That so if this is happening it's it's Going to be pretty uh pretty exciting And impactful to the entire digital Asset you know Ecosystem very good stuff now I think Steven n off is almost directly over the Target here gensler's plan the free pass Speech to get out of jail free card okay
The plan Gary gensler's plan is designed To conceal the sec's corruption Involving involving ethereum Gensler Gives prometheum a Magic Bullet license Which offers ether as a security Pretends his hand is forced by his own Actions and then justifies classifying Ether as a security with the move to Proof of State despite it being deemed As such since uh the Ico coverups a few Of the elicit this way they don't have a Lawsuit folks this is this is what Gary's worried about is if he files a Lawsuit against the ethereum founders or Any of those organizations then they can Do Discovery and and the discovery will Show all the Corruption coverups a few of the illicit Activities gers plan would cover up Sec's favoritism to ethereum and Prometheum both effectively controlled The CCP Affiliated entity by the uh CCP Affiliated entity wayang Zang gensler's Admission of lubben speculative Ico Purchases which first turn turned eth Into a security henman's Dow report Cover up for the Dow hack clear Conflicts of interest the's internal doc Showing it wasn't decentralized the Motives behind the Ripple enforcement Action why Gensler said X RP and not Ether was a security while chair of the Cftc the sec's illegally lead uh LED False prosecutions to silence me which I
Defeated and exposed the SEC Purge Guinsler is attempting to conceal the Trail of corruption and criminal Activity involving ethereum Luben balic The SEC himself and others prior to the Merge in 2022 like ethereum's plannned Purge to erase data from the blockchain Older than one year gensler's ting to Erase all this history accountability Ethereum has been tainted since the day Of the Ico and appears to have colluded With the SEC to continue the charade of Decentralization to deem Etha security From 2022 onwards and ignore all the Elicit actions prior as a cover up of Unprecedented proportions right in our Faces this cannot be allowed and Everyone who participated in these Action actions must be held Accountable and then here This was um French hill I think is his name in Congress I'm behind on a lot of stuff Folks we're going to try to catch up in The next couple days not only has the SEC lost in the court of public opinion Even on a bipartisan base here on Capitol Hill but the agency is now Getting trampled by the federal courts As well especially as it relates to Digital Assets in July 2023 a New York Judge determined that Ripple Labs did Not violate Federal Securities Law by Selling its xrp token on public Exchanges in fact in that case they were
Referred to as being arbitrary and Capricious last August the court Rejected the sec's reasoning for Blocking grayscale's Bitcoin trust from Converting to an exchange traded fund And just in the last few days a Utah Judge imposed sanctions on the SEC for Quote bad faith conduct and open quote Gross abuse of power close quote that The commission had demonstrated in a Case against Dropbox and this is important because we Haven't talked about this in a long time In this committee and as a result of That gross abuse of power the commission Is required to pay the legal fees which Means that our constituent tax dollars Are now being used to pay for the sec's Overreach and failure that's disgus so Whether it's refusing to comply with the Administrative procedures act or not or Providing clear rules of the road for The digital asset ecosystem it's clear That the SEC under Gary gendler Blatantly and repeatingly oversteps its Statutory Authority darn right okay in Dip.com we're going to talk about why I Went to DC who the senator was we met With um what we were doing there and the Whole thing and um I I just went for a Day and I just kind of went on a whim to Be honest but we'll I will go over all That I'm the digital asset investor I'm Not an investment adviser this is for
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