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Hello this is Matt on the moon Lambo Channel major cryptocurrency exchange Gemini became an xrp Riddler which is Hilarious as far as I'm concerned and I'm sure that most of you are aware of The story that I'm talking about here And don't worry if you don't know what The hell I'm talking about I will get You caught up to speed here um but they Put out a riddle on social media Platform X lots of speculation as to What it meant um and I I suppose to not Be the lead I will notice here note here Right at the outset of the video uh There was speculation that Jim and I was Going to be announcing spot xrp ETF and Unfortunately that is not what happened Although I I do find that speculation to Have been pretty reasonable it wouldn't Be crazy to see something like that in Fact I won't be surprised if we see at Least one major firm apply for a spot Xrp of this year I won't be surprised to See that at all though I question Whether or not it would actually get Approved uh this is not that particular Moment in time so I'll get you all cut Up in what's actually going on there but We do know uh what Gemini was getting at And then there's also this story uh from The Crypt basic Fox journalist and Deon React as SEC presents inconsistent Argument in binance case 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 so um You guys you guys saw this right I'm I'm Sure I'm most of you are aware of what I'm talking about here uh Jim and I uh a Few days ago just started randomly Tweeting stuff about xrp here you can See there were three on the screen uh Against dating back to January 21st Jim And wrote don't forget about xrp just Just out of nowhere that was it no Additional context and then later in the Day there's another another post that Says excited about xrp and then shortly After that a third post re it was a Repost of that one and they wrote ex Ring shortly which I'm pretty sure is Not an actual word but that's what they Put out there um but that wasn't it then Uh hours after that they put out a Fourth post and this one although it Didn't specifically State anything about Xrp given the context and the nonsense That they were putting out on their uh On their profile Uh they put out a riddle and uh it was Assumed that the answer to the riddle Was xrp and so they wrote the following
Can you solve this riddle so there you Go Gemini becoming an xrp Riddler excuse me folks and they wrote Can you solve this riddle in the land of Giants I'm Swift and small when I run I Don't stall across borders I freely roam In markets near and far from home what Am I the answer will be posted in 24 Hours and we did ultimately get that Answer which brings us to the headline Today Gemini reveals new xrp trading Product after teasing Community now so Again not a spot xrp ETF but I think That was a pretty good guess um I Wouldn't have found it crazy to be the Case uh but anyway piece reads as Follows xrp Traders on Gemini now have An opportunity to extend their exposure To the cryptocurrency as us-based Exchange officially launches xrp Perpetual contracts Gemini has finally Unveiled the reason behind its latest Social uh social campaign around Xrp the X The Exchange rather disclosed In a post on X this morning that it Planed to launch Perpetual contracts for Xrp notably the introduction of xrp Perpetual contracts offers Traders the Ability to go beyond spot trading by Allowing them to use leverage being Perpetual contracts Traders can continue To hold their positions without any Expiration date as long as they can Cover their margin and so there you go
Folks trading with margin with Xrp it's just the worst idea on the Planet but Anyway uh peace continues as a result of This Gemini Traders can amplify their Positions potentially magnifying their Gains as well as their losses by trading The contracts on the Gemini derivatives Platform however Gemini has confirmed That the platform is not available in The US UK and the European Union so how About that and so the actual post reads As follows it literally was just this uh Riddle answer xrp perpet Perpetual Contracts coming soon to Gemini hooray Well that got a whole lot of attention Including on uh uh crypto media Platforms and now with my channel as a Result and frankly it's not that Exciting like this is this is not Something that I would have been kind of Neat to see a spot xrp ETF but anyway I Wanted to update you that's what's going Down with that uh now on to the next Story here Fox journalist Dan Deon react As SEC presents inconsistent argument in Binance case crypto enthusiasts spot Inconsistency in the sec's legal Argument after the regulator claimed That crypto assets themselves represent The embodiment of an investment Contract this was the SEC lawyer Position in yesterday's legal hearing Centered on binance's attempt to get an
Enforcement action from the Securities Regulator dismissed for context the SEC Charged binance and coinbase in June With violating federal laws by operating Unregistered Securities exchanges and Listing crypto assets deemed investment Contracts in the binance laws the SEC Labeled 12 crypto assets as Securities Including and I'm not going to list them Though then it says on the contrary Binance and the binance and binance US Filed a dismissal motion asking us District Judge Amy Burman Jackson to Dismiss the lawsuit reports from the Courtroom during Monday's hearing Suggested that the SEC claimed the Hoy Test a long-standing security test in The United States was clear for all Assets including cryptos according to Reports from the courtroom the Commission's lawyers claim clim that the Crypto tokens listed in the binance case Represent the investment contracts Adding that the assets are the Embodiment of a security ah yes the Embodiment Theory which we're all very Familiar with here in the xrp community Right it's just it's so two-faced you Have the SEC lit literally stating oh no Xrp itself isn't a security but then all Of their arguments are arguing that it Is and that xrp embodies the security It's the same damn thing completely Absurd anyway peace continues however
The sec's argument did not sit well in The crypto Community as enthusiasts Spotted significant inconsistencies in The theory notably Attorney John Deon Who represents thousands of xrp holders In the secv Ripple case commented on the Development the pro xrp lawyer revealed That the SEC expressed the uh embodiment Theory when responding to his motion to Intervene on behalf of extra beholders In the Ripple legal tussle and so uh Here's the actual post that they were Referencing right here so there is an Attorney named Scott Johnson Finance Lawyer here and um and he simply wrote The Following at binance Oral quote the Token itself represents the investment Contract the token represents the Embodiment of an investment contract end Quote didn't they say the opposite at Coinbase Oral uh which is what makes this Hilarious right and so Attorney John Deon re reposted that and wrote The Following The SEC first articulated its embodiment Theory when it responded to my motion to Intervene on behalf of xrp holders in The Ripple case read it yourself and It's on the screen there quote this is From the SEC the xrp traded even in the Secondary Market is the embodiment of Those facts circumstances promises and Expectations and today represents that
Investment contract and so folks I will Say it's it's fascinating after getting Like the biggest smack in legal History of the world of crypto uh this Past July with xtrap being declared not Not a security it's amazing that the SEC Has the audacity to argue anything even Close to this ever again in any case but Buty it's the SEC I mean if you're an Ass hat prick you're just going to keep Being an ass hat prick right um and and So then there was also um this um Fox Business journalist elanar turret she Also reposted what I just shared with You from Attorney Johnson and H tett Wrote The Following both judge Torres And judge raikov declared the to itself Not a security and if I remember Correctly SEC lawyers in both cases said They don't think the tokens themselves Represent investment contracts because They are merely computer code we saw This in the Ripple and Library cases too SEC lawyers not maintaining a consistent Position to strengthen their respective Arguments yep so they're still just Doing the same old nonsense they're Literally my opinion is they're Literally trying to trick judges they're Hoping that they get an uninformed judge Or a St stupid judge maybe uh they they Argue all this stuff that they couldn't Possibly themselves believe but they're Expecting a judge to believe it and it's
Not been going well for the SEC has it Defeat after defeat after defeat Recently almost exclusively Right it is what it is though folks We'll see how this goes down but uh I'm Not optimistic for the SEC big picture They are on the wrong side of history And that's the reason that they've been Losing so consistently I'm not a Financial adviser you should not buy or Sell anything because of anything I say Right that would be a very very very bad Idea until next time to the Moon Lambo
