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Hello this is Matt on the moon Lambo Channnel here's a headline from the Crypto basic SEC suffers major blow in Lawsuits against Ripple and coinbase and This is a fun one and you know it's been A while since I've had an update on the Channel with anything having to do with Ripple or coinbase lawsuits uh so it's It's certainly time uh time for that but Um my gosh you know what what they're Ultimately talking about here frankly is Not a surprise and it's funny because One of the top people spearheading Efforts against coinbase and against Ripple uh no longer wants to work with Gary ginzer completely changed their Tune on uh on the uh you know the Credibility of crypto oh oh so gung-ho In it now absolutely going to be working To to that end at this new firm and That's a complete 180 from what was Being spouted as the charges were being Brought against uh you know Ripple and And certainly coinbase here they were Attacking xrp holders effectively Absolutely and as I've said I do not Believe that these assat prick attorneys Over at the SEC believe the BS that They've been arguing this is proof of That 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 now Just as a brief bit of table setting Here I want to share you three fairly Recent headlines a recent recent history Since you know Gary ginzler has become SEC chair I'm not going to read the Articles but I just want to make the Point here uh here's an article from Politico uh what's this October 19th 20122 SEC Watchdog staff worried about Workload under guinsler folks like just About from the beginning it was very Clear that uh it's not exactly a happy Working environment working under Kim Jeong giner and people were leav in fact Take a look at this headline from February 10th of this year from coin Gabe SEC chair Gary guinsler seeks 2.4 Billion doll budget amid staff Exodus so how about that staff leaving Enlarge quantities want more money to to Staff a battle basically attacking Crypto here's another headline is SEC Chair Gary ginzler going to be fired Post elections and that's from daily Coin so um Not the best time to be Kim Jeong ginzer It's been better for old old Gargar so here we have um the headline Here this one's from Bloomberg law SEC Crypto litigation unit uh leader leaves
To join white and case Leen Stewart a Leader in the SEC crypto unit that has Been in meshed in high-profile court Court fights with the industry has left The agency to join white and case The Firm said when day Stuart an 8-year Veteran of the Securities and Exchange Commission's enforcement division since September 2022 headed the sec's crypto And cyber litigation unit the first ever Specialized litigation department at the Wall Street regulator and in that role She led actions such as last June's Lawsuit against coinbase Global Inc the Nation's largest crypto exchange for Allegedly operating as an unregistered Securities Exchange broker and clearing Agency so okay pause Leon Stewart Obviously was very high up at the SEC Fighting against all things crypto was There for eight freaking years and uh Under Gary was finally like yeah I'm Going to get the hell out of here but But look at the strategy that these Attorneys from the top down these Attorneys are are are told they must Take I think a lot of them they're They're in these positions where they're Told they must argue so and so but I Still blame them because I still believe That they're arguing stuff that they Have to know is not true and they just Do it anyway and it's so disgusting like It's not like a little FIB here there
Trying to make the best case they can in Good faith it's horrendous outrageous Misrepresentations lies obviously not Operating in good faith all that Arbitrary and capricious all you here's All the stuff from the judges in various Cases that's what it's been that's why We have a problem with this and so Leaden Stewart out and wait till I share With you the quote from Good Old Laden Stewart anyway peace continues she was Also a member of the SEC team engaged in A protracted fight with the digital Payments company Ripple over whether its Xrp token is an unregistered security a New York federal judge last year ruled That Ripple's xrp token is not a Security when sold to the general public Which the industry touted as a victory The SEC whose whose chair Gary ginzler Has held that most digital tokens are Securities has mve to appeal the ruling Yeah and so there was obviously that Push for an interlocutory appeal which Didn't go through um and I'll go ahead And assume that Justin wise doesn't Understand that it's completely wrong to Label xrp as ripples xrp because a lot Of times when it's these major uh you Know these major Publications Outlets Like Bloomberg I think a lot of the Times these people are writing about Crypto they are way out of their depths They really are so it's it's you know I
I get more frustrated when I see ripples Xrp you know it listed as that with Crypto media Outlets those people should Know better and really I know mainstream Media should know better but it's one Little I don't think that that is an Indication that they're acting like Tribal Bitcoin Maxis which is what I Typically wonder if I see it in crypto Media but anyway is what it Is anyway so peace continue Stuart who Will remain in the firm's White Collar Defense group said in an interview that She plans to develop a crypto and cyber Defense practice at White and case and Here's the quote from leaden Stewart Formerly with the SEC crypto is here to Stay that's that's become very clear With the launch of a slew of Bitcoin Exchange traded funds given the Complexity and the turbulent enforcement Arena legal questions surrounding crypto Are going to be at the Forefront for Some time end quote okay so Leen Stewart Formerly with the SEC attacking crypto Uh obviously against she's R of the Basically what was the line of the SEC And what it has been right so against Ripple against coinbase leading the Charge against coinbase all this this And that everything's wrong and again It's the argument is so outrageous it's Hard to believe that anybody believes it Because I don't think she's stupid I
Just think these are bad people on the Whole and here she's saying crypto is Here to say oh is that Right now you believe it's after you Were attacking it harming Everyday People now now you're saying crypto's Here to stay so it's a good thing then Right and it's just the reason she says It's here to stay because of Bitcoin Exchange traded funds what did something Fundamentally change about Bitcoin and Now because the SEC has approved it now It's just a completely different product And everything's fine this doesn't this Doesn't make any logical sense but this Is the type of craft that we are Supposed to Believe John Dean's crypto law Organization highlighted the story as Well and wrote The Following the top SEC Anti- crypto attorney who played a role In many of the commission's disastrous Motions and hearings in the Ripple case Remember the attorney client privilege Argument to hide the Henman documents Has defected to a Wall Street Law Firm Now says crypto is here to stay that's Right remember all those bogus arguments Though that's her that's her attorney Client privilege Crap I mean it's just his most audacious Thing remember Bill Henman so you know At the SEC like one of the most high up Guys he had attorney client privileges
With the attorneys that were he was Working with like as co-workers it was Just like the stupidest Crap that's the genius level stuff that We were working so again they clearly Didn't believe the stuff that they were Saying they were just saying it because Reasons folks Because of reasons and I want to mention This too I'm not going to spend much Time on this but I had to read this Mention this since it's you know we're Talking about you know big government Agencies saying crap that you just you Know they can't actually believe right Look at this this headline Bitcoin worth Zero says ECB the European Central Bank Recently published a blog post cynically Arguing that the fair value of Bitcoin Is still zero despite the wildly Successful launch of Bitcoin ETFs into Which investors have poured billions of Dollarss in Bitcoin breaking $1 trillion Dollar in market capitalization and Folks I got to say it is funny whether You're a big fan of Bitcoin or not I Like it I'm not excited about it really But I've been holding it since 2017 but has a over a$1 trillion doll Market cap and they're saying it's worth Zero Do might you be biased much maybe is it Your interest you believe European Central Bank to deliver this false
Narrative and lie to people because that This is a lie obviously Pce continues perhaps confused by the Direction of its own currency the Euro I Love that which has been eagerly heading Towards Zero versus gold ever since its Launch in 1999 losing 85% of its value In just 20 Years the post written by ECB staff Member Dr Fabio Panetta claims Bitcoin Lacks the fundamental attributes of a Currency and that its value is based Solely on speculation never mind that All Investments are a speculation of the Future values as the future remains Unknowned unknown Panetta argues that Bitcoin's value is not anchored to any Tangible economic good or service and Falsely claims its Supply is not fixed But can be changed by a decentralized Network of computers this is patently False and can be verified in the Bitcoin Design Within the white paper and also Within the code and you know there are So many arguments you know it's you know Another thing that you see this one Always makes me laugh too these are BSR Arguments Bitcoin or pick your crypto Insert cryptocurrency here you know uh We'll say Bitcoin Bitcoin it's uh it's It's it's not worth anything because it It doesn't uh you know it doesn't offer Dividends and I just I when I hear that Argument like it's just audible s moment
Face palm ey roll I just think so Bitcoin it it's it's worth zero dollars Because you don't get any sort of Dividends it's it's like if you were Saying that with a straight face oh my God you were horrifically using an Incorrect valuation model to determine What the actual value of Bitcoin is like Do you do you go do you go into a Grocery store and pick up a banana and Look at it and hold it in your hands and Go this banana is worth Zero because it doesn't yield any Dividends like would you do that or Would you think oh maybe that's the Wrong freaking valuation because it's a Banana and it doesn't need to yield any Damn dividends like what is It's just these people they have to know These are stupid arguments and my God And if if if volatility is a reason that Bitcoin's bad well then holy Euro losing Its value against well go here again 85% But it's hilariously lost over 99% of Its value against Bitcoin which it is Bitching about isn't that hilarious it's Lost over 99% of its value in 15 years The Euro has well go fig it's the same Story with the United States dollar of Course we're just talking about the here Because that's what the story is isn't This completely isn't this funny so this Is what I mean talk about what they Believe to be their self-interest damn
The people damn truth it's the same crap With the SEC Wow they really think we're Idiots what a bunch of damn Fools I'm not a financial adviser you Should not buy yourself anything because Of anything I say or right that would be A very very very bad idea until next Time to the Moon Lambo
