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CEO @bgarlinghouse joined @CNBC Crypto World to recap the latest in the SEC v. Ripple lawsuit, recent U.S. regulatory action and what’s next for Ripple’s growth plans. Check out the full interview here:
@CredibleCrypto A couple questions:

1) Is it weird that BTC hit it's all time high during a corrective wave 4?

2) Do you consider us to be in a bear market right now? If not, what would constitute an actual bear market in your opinion?

Just curious! Oh and talk about $XRP please 😂
@JohnEDeaton1 @FilanLaw The more I learn about the SEC's arguments in this lawsuit, the more I think it resembles pure insanity.

What a dumpster fire of an agency.

Thanks for always sharing your perspective John!
@MoonLamboio covers @FilanLaw’s succinct breakdown of the SEC’s essential argument for summary judgment:

Any purchase of XRP is the purchase of a security.

Any purchase = ALL purchases. All includes buying off exchanges or even p2p in secondary markets.
@100trillionUSD I think future halvings will be diminished in importance since something like 94% of terminal supply will be in circulation by the next one.
“SEC retroactively declared XRP an unregistered security and all its trades for the previous seven years to have been illegal, even on the secondary markets.”

Finally everyone gets it! Do you how many people & lawyers argued that the SEC was only saying the way Ripple sells it?
@CryptoLawUS Not just throwing a flag for a play that happened 30 minutes ago, but throwing that flag with 5 seconds left in the game.

In the Ripple, LBRY, and Dragonchain cases, the SEC specifically waited until just before the five year statute of limitations was up.
@Valuemancer @HammerToe @oskararnarson @Ray_Fuentes1111 I clicked the link you shared about centralization and you DON'T explain how the decentralized XRPL is actually centralized.

I don't like engaging with intellectually dishonest people, and your avoidance of answering 1 simple question makes this a non-starter.

Muting you now.

No one discredits the SEC and its arguments more than me. But if people think it is a forgone conclusion that Judge Torres is going to wholeheartedly adopt the argument articulated in @Ripple’s Summary Judgment motion you are likely overconfident.
@TEQNiKG @HammerToe @oskararnarson @Valuemancer @Ray_Fuentes1111 Actually I won't be touching this one 😂

If there were an actual debate and something for observers to learn from it that would be one thing, but this guy literally won't answer the first question. Hopeless. It really is the worst example of this behavior I've ever seen on here.
@HammerToe @oskararnarson @Valuemancer @Ray_Fuentes1111 Sometimes I debate people that I don't think have any interest in the truth, but this guy takes the cake. Can't get past the first freaking question.
@HammerToe @oskararnarson @Valuemancer @Ray_Fuentes1111 Holy hell. I clicked that link & there must be at least a couple dozen tweets where you're asking him a simple question: How is the XRPL centralized?

That guy is not operating in good faith and is not interested in the truth. Usually their type will at least attempt! Just wow.
Ripple argued that XRP is not a security because it has no "post-sale" obligations to purchasers.

What was the post-sale obligation in Howey?

In Howey, the Defendant sold small plots of orange groves to investors. And that would have been fine if that's all they had done. 1/mil
@MicahPW20 @Valuemancer Well yes, given he couldn't even get past the very first point that he himself raised... I don't think we'd get very far.

I would never want people that have ideas I disagree with silenced. That's just wrong, and free speech matters.

Besides, if that happened, who would I argue with?? 😂
@nocontextworker I have no idea. Just noting that $XRP market conditions are far outside of normal parameters.
@JayVTheGreat @justinzgoh @cryptocom @sentosumosaba Side note: of course I know volume and liquidity are not the same thing. BUT, if volume is low enough of their platform that they’re setting restrictions, presumably not enough people are buying and selling on their platform.
@JayVTheGreat @justinzgoh @cryptocom @sentosumosaba It is possible price could explode from here but I do not pretend to know if that will happen.
@JayVTheGreat @justinzgoh @cryptocom @sentosumosaba Right now $XRP global 24 hour volume is about 4 times higher than normal.
@JayVTheGreat @justinzgoh @cryptocom @sentosumosaba The platform is saying there’s low liquidity. But they’re just referencing their own platform. Even if the price on there gets out of line with the rest of the world, arbitrage will quickly fix that problem. The guy in the clip doesn’t know what he’s talking about.
$XRP has mostly been trading sideways for a few days now, but the volume is through the roof compared to normal.

$600 million or so in 24 hours would be usual, but we’re now seeing $2.5 BILLION.

Something is coming.
@GrayXrp @Dimi_h Seems I’ll never learn 🤷‍♂️
@Dimi_h It’s fun to say shit that’s not true.

Never stop being you.
@ion_crypto Thanks for the pro-tip!! 😎🙏🏻

Will be… loads of fun.
Happy Sunday, damnit.

Or whatever day it is.

Everything blurs together at this point.
Affidavits are from the 🌏 International #XRPHolders’ plight is included. International Holders have a right to be even more 😡

U.K.’s FCA says XRP is NOT a security. But SEC claims U.K. Holders are in a common enterprise w/ @Ripple and all other holders b/c XRP is a security.
Even w/o an amici brief, #XRPHolders have already had a major impact on the @SECGov 🆚 @Ripple case. As I’m reading the SEC’s motion for summary judgment a 3rd time in preparation for our amici brief, I wanted to say 🙏 to the thousands of #XRPHolders who signed sworn affidavits.
#XRPCommunity #XRP 1/3 Here’s the SEC’s argument, as I interpret it.

“We aren’t saying XRP is a security per se. What we are saying is that any purchase of XRP, as a matter of economic reality, is an investment in a common enterprise with other XRP holders and with Ripple.
@sentosumosaba 🙏 Eri but I misspoke. I’m not reading the Complaint again but the SEC summary judgment motion - which makes it even worse b/c 2 years of litigation and collectively $200M in resources have been spent to gain evidence - and the SEC cites bloggers, biased reporters and tweets.
Reading the SEC Complaint again taking 📝for amici it is embarrassing. They say things like: “a blogger wrote…”; a Business Insider reporter said…; and every single time, except once, that they say XRP investors relied on Ripple statements they have no proof to back it up.
Crypto is here to stay. I enjoyed my chat with @politico this week where we covered the future of crypto, all things Ripple and the importance of clear regulation here in the U.S.
#XRPCommunity #SECGov v. #Ripple #XRP Attorney Bethan Rhian Jones has filed an application to appear and join the Ripple Labs defense team. Attorney Jones is with Kellogg Hansen. Her application and a link to her bio are below.
@TheRealHuecuva @Belisarius2020 @bgarlinghouse @attorneyjeremy1 What you’re talking about is the application of the law and yes, it is disputed.
@TheRealHuecuva @Belisarius2020 @bgarlinghouse @attorneyjeremy1 The dispute is not about facts. The dispute is about the application of law.
@ThatWiloGuy @attorneyjeremy1 @MoonLamboio @Belisarius2020 This is how to look at it imo: assume the judge were to only write: “the SEC’s motion for Summary Judgment is GRANTED and nothing else? (I’m not suggesting she will do that because she won’t.). But for the sake of discussion, she does. What clarity if any do we have?
@MoonLamboio @JohnEDeaton1 @Belisarius2020 Yes, basically. But, the law is open to interpretation and John and Bill seem to think otherwise (which is good - always room for discussion). I differentiate between the Complaint, which is one thing, and the pending motion, which is related but also its own separate thing.
@attorneyjeremy1 @MoonLamboio @Belisarius2020 I don’t disagree w/ Jeremy that the summary judgment is more controlling. But in the SJ they still make conclusory statements about XRP. “A purchase of XRP is an investment in a common enterprise w/ other XRP holders and w/ Ripple.”
@attorneyjeremy1 @JohnEDeaton1 @Belisarius2020 While you don't think the judge could render a disastrous ruling because the SEC didn't ask for it.

If I got that part right then I think I'm finally no longer confused 🙃

It's great to get opinions from all the attorneys in the #XRPcommunity. Everyone really appreciates it!
@attorneyjeremy1 @JohnEDeaton1 @Belisarius2020 Okay, that helps a lot! Thank you so much for taking the time to clarify.

John & Bill think there may be a possibility the judge could render a disastrous ruling regarding $XRP even though the in the motion for summary judgement doesn't ask for $XRP to be declared a security.
@Dizer_YM @attorneyjeremy1 @JohnEDeaton1 @Belisarius2020 I'll also note that attorney Deaton said he intends to ask the judge to certify $XRP as a non-security, though he said of course that doesn't mean she'll do it. I also don't know to what degree that would or wouldn't impact $XRP be relisted on exchanges.
@Dizer_YM @attorneyjeremy1 @JohnEDeaton1 @Belisarius2020 Excellent query. That's in line with what I'm wondering. Curious as to what exchanges must be thinking about $XRP now that they know what the SEC is asserting.

Are they worried about about being charged by the SEC with a Sec. 5 violation?
@attorneyjeremy1 @JohnEDeaton1 @Belisarius2020 Are exchanges actually worried about the SEC charging them with a Sec. 5 violation in the future, even though the SEC itself isn't asserting $XRP is a security?
@MoonLamboio @JohnEDeaton1 @Belisarius2020 2/2 I don't see how the judge could rule, sua sponte, for more relief than is requested in the motion in front of her.

Eg. There's no request for an injunction or even for a declaratory judgment which would put it at issue.
@attorneyjeremy1 @JohnEDeaton1 @Belisarius2020 LOL thank you! 😂

Okay, so you're saying (I think) that the judge can NOT rule XRP to be a security since the SEC didn't ask the judge for such a consideration. Is that right?

And if so, given that XRP can't be found to be a security, why don't exchanges now relist $XRP?
@MoonLamboio @JohnEDeaton1 @Belisarius2020 I am responding oh great master Matthew.

I agree that the Complaint alleges enough to make the argument that XRP is per se a security. But the Mt for Summary Judgment only asks for a judgment that the Defendants sold XRP in violation of Sec. 5. 1/2
$XRP - Price ran stop liquidity above 47c, whilst its still early in the day and things could change, in the short term, were probably looking to take out 43c.
@seinjewCrypto @JohnEDeaton1 @Belisarius2020 My bad! 😂 I'm making things worse.

What part is confusing?
@MoonLamboio @Belisarius2020 My guess is that people expected a stronger brief. I’m not w/ everyone who thinks the SEC can’t on some level, but the SEC offered NO evidence on XRP holders relying on Ripple’s promotion or promises etc. I was expecting their Expert to discuss Social media and examples, etc
@JohnEDeaton1 @Belisarius2020 That part makes total sense.

Additionally, it seems like you're saying the SEC is arguing $XRP is a security and Hogan is saying the SEC is not arguing $XRP is a security. That's what I'm confused about.

I may be misinterpreting what either of you (or both of you) are saying.
@PratapRuchir But it seems like Deaton & Hogan disagree on whether or not the SEC is claiming $XRP is a security. I think it's worth making sure we all understand their positions. Thanks for the support regardless! 😎👊🏻
@MarketsMickle @Belisarius2020 @attorneyjeremy1 I'm glad I'm not the only one!!

I may be misunderstanding, but it seems to me Deaton is saying the SEC is arguing $XRP is a security, but Hogan is saying that the SEC is not arguing that $XRP is a security based on their motion for summary judgement.
@X__Anderson @Belisarius2020 I may be misunderstanding, but it seems to me Deaton is saying the SEC is arguing $XRP is a security, but Hogan is saying that the SEC is not arguing that $XRP is a security based on their motion for summary judgement.
@PratapRuchir What do you mean?

I can't be the only one wondering this.
@MoonLamboio @Belisarius2020 I know Jeremey Hogan said in his video that he thought “XRP =security” is off the table. @attorneyjeremy1
@MarketsMickle @Belisarius2020 @attorneyjeremy1 Yeah I saw that too, & to be clear I'm not saying Jeremy is wrong. I literally mean I don't understand and I think I'm missing something.

We've seen the SEC argue this since the beginning so I don't understand what changed now that the SEC is still arguing the same thing in SJ.
@MoonLamboio @Belisarius2020 @attorneyjeremy1 @freddyriz Matt you and Bill are correct. I never expected them to argue in the summary judgment that XRP itself is a security b/c they admit they can’t. But they still make a defacto argument. For ex, They claim the XRP escrow represents the common enterprise.
@JohnEDeaton1 @Belisarius2020 @attorneyjeremy1 @freddyriz I see people excited that the SEC doesn't blatantly claim in motion for summary judgement that $XRP is a security.

Can judge Torres still find that $XRP is a security per se without the SEC making the blatant claim, or are the accusations the SEC make enough for her potentially?
$XRP HIT $0.55 and fell a bit to $0.48 which doesn’t seem weird. It’s been quite a rally after all!!

Nothing goes straight up forever.

Will $XRP keep surging up from here, or go back down?
@Belisarius2020 SEC keeps saying they’re not claiming $XRP is a security per se, but then goes on to argue that it is.

Been doing that since 12/22/20.

Is it a surprise they’re not saying $XRP is a security per se in their motion for summary judgement?

@JohnEDeaton1 @attorneyjeremy1 @freddyriz
@Belisarius2020 SEC keeps saying they’re not claiming $XRP is a security per se, but then goes on to argue that it is.

Been doing that since 12/22/20.

Is it a surprise they’re not saying $XRP is a security per se in their motion for summary judgement?

@JohnEDeaton1 @attorneyjeremy1 @freddyriz
@Brooklynredd769 Without the period it would read as 4993 cents which would be $49.93.
With interest rates rising and the Fed putting us in a deep recession, with more layoffs coming, the absolute worst thing to do is implement a policy of over regulation yet that is what @GaryGensler is doing. People can attack me if they want for saying it, but America is losing.
Overshot 50 cents to the next resistance (55 cents).

If $XRP is correcting now to 50 cents. If it breaks below it, then this would be an over/under signal, a bearish sign. Alternatively, holding 49-50 cents is a good sign for bullish continuation.
@GaryGensler Nah just kidding.

Get the fuck out Gensler.
@GaryGensler Seriously. Sign this again Gary, NO ONE can read your signature.
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