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SUMMARY
- Loyalty to the Constitution: Public service requires employees to place loyalty to the Constitution above private gain.
- XRP as a security: The question of whether XRP is a security remains an open legal question, and there are differing opinions on the matter.
- Ripple and XRP as a Security: The SEC's theory that XRP is a security per se is unsupported by law. Secondary market sales do not maintain security status.
- XRP Community: The XRP community has brought people together, allowing them to engage with one another and meet amazing individuals in the on-chain community.
- FTX Funds Mismanagement: Millions of dollars are being paid to attorneys instead of victims, with no accountability or transparency.
- Incumbents Jumping into Crypto: Large organizations like Black Rock and Deutsche Bank are filing for Bitcoin ETFs, revealing incumbent bias by the Fed.
- Bias Against Crypto Startups: SEC is biased towards large incumbents like Black Rock and Fidelity, while startups like Caitlin Long's are denied assistance.
- Max Kaiser's Bitcoin Maximalism: Max Kaiser is a passionate Bitcoin maximalist who believes XRP was marked for death and Gary Gensler's job is to take it out.
- Anonymous Nature of Bitcoin: The fact that the founder of Bitcoin is unknown raises questions about the legitimacy of approving a Bitcoin ETF.
- SEC's message to the crypto community: "If you create a cryptocurrency, never reveal who you are; hide forever like a modern satoshi."
- Inflation and erosion of the US dollar's value: "Ninety-seven percent of its value has been eroded."
- Court's Continuing Jurisdiction: On October eleventh, the court is calling the SEC's bluff. The court could have dismissed but chose to exercise continuing jurisdiction.
- Real-World Project Announcement: A very first Badass Yetis real-world project that you can buy with fat will be announced shortly.
- Badass Yetis Purchase: Badass Yetis can soon be purchased with a debit card or visa directly at Super Mojo.
Links to Articles We Discuss
Filan on Alderoty
#XRPCommunity #XRP from @s_alderoty “Public service is a public trust, requiring employees to place loyalty to the Constitution, the laws and ethical principles above private gain.”
#XRPCommunity #XRP from @s_alderoty “Public service is a public trust, requiring employees to place loyalty to the Constitution, the laws and ethical principles above private gain.” https://t.co/6M2Ctxa8FL
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) June 20, 2023
Hogan
This Deaton thread should be put in the Crypto Twitter hall of fame.
Read on for why sales of an asset SOLD AS a security do NOT maintain that status in the secondary market
This Deaton thread should be put in the Crypto Twitter hall of fame.
— Jeremy Hogan (@attorneyjeremy1) June 19, 2023
Read on for why sales of an asset SOLD AS a security do NOT maintain that status in the secondary market.#RelistXRP https://t.co/jSZVrRzHfZ
Deaton
Read all 12
I understand Marc’s comment that secondary sales are an open legal question and whether a Howey analysis must be applied to secondary market transactions. But when you look at the existing case law in totality it strongly favors that you must apply Howey at each subsequent sale.
I understand Marc’s comment that secondary sales are an open legal question and whether a Howey analysis must be applied to secondary market transactions. But when you look at the existing case law in totality it strongly favors that you must apply Howey at each subsequent sale. https://t.co/bc2WaeGTjM
— John E Deaton (@JohnEDeaton1) June 19, 2023
Oskar gets a shoutout from Deaton
@oskararnarson is very talented and he literally captured personalities in the animation. Like many in this community, he is awesome.
@oskararnarson is very talented and he literally captured personalities in the animation. Like many in this community, he is awesome.
— John E Deaton (@JohnEDeaton1) June 19, 2023
When the universe sends you something like this, it's time to express the gratitude with action and pay it forward, which is what I'll do today. Thanks again John. #XRP #XRPArmy
@oskararnarson is very talented and he literally captured personalities in the animation. Like many in this community, he is awesome.
— John E Deaton (@JohnEDeaton1) June 19, 2023
When the universe sends you something like this, it's time to express the gratitude with action and pay it forward, which is what I'll do today. Thanks again John. #XRP #XRPArmy https://t.co/h7mSs79ES6
— Oskar Arnarson (@oskararnarson) June 20, 2023
The corruption is staggering - Retail is always collateral damage
Deaton
This is absolutely insane. The level of injustice is mind boggling. https://t.co/7vLhDXUJJb
— John E Deaton (@JohnEDeaton1) June 19, 2023
Deutsche Bank applies for digital asset license. 🤷♂️
Deutsche Bank applies for digital asset license. 🤷♂️
— CZ 🔶 Binance (@cz_binance) June 20, 2023
Listen, anyone who has been paying attention knows that at some point the incumbents said “we can’t kill it, it’s here to stay” and decided to crush it so they could buy it up. @cvpayne and I almost a year ago.
Deutsche Bank applies for digital asset license. 🤷♂️
— CZ 🔶 Binance (@cz_binance) June 20, 2023
Listen, anyone who has been paying attention knows that at some point the incumbents said “we can’t kill it, it’s here to stay” and decided to crush it so they could buy it up. @cvpayne and I almost a year ago. https://t.co/J5n64rnydr pic.twitter.com/t3YoWyHti9
— John E Deaton (@JohnEDeaton1) June 20, 2023
Jamie Dimon’s @jpmorgan gets fined almost every year for manipulating markets like precious metals. They get fined tens of millions while they make billions (impressive ROI). Recently, they settled a civil case where they were not only aware of a sexual predator but assisted him…
Jamie Dimon’s @jpmorgan gets fined almost every year for manipulating markets like precious metals. They get fined tens of millions while they make billions (impressive ROI). Recently, they settled a civil case where they were not only aware of a sexual predator but assisted him…
— John E Deaton (@JohnEDeaton1) June 20, 2023
The Third Circuit just ruled that it will retain jurisdiction over our challenge to the SEC's inaction on our petition for basic rules for crypto. A further report is due in 120 days. We are grateful that the Court will continue to shine a bright light on an SEC process that…
The Third Circuit just ruled that it will retain jurisdiction over our challenge to the SEC's inaction on our petition for basic rules for crypto. A further report is due in 120 days. We are grateful that the Court will continue to shine a bright light on an SEC process that… pic.twitter.com/wQu52UuCoU
— paulgrewal.eth (@iampaulgrewal) June 20, 2023
Deaton responds
This forces the SEC to provide a real update on October 11. The Court is calling the SEC’s bluff. The Court could’ve dismissed but chose to exercise continuing jurisdiction.
This forces the SEC to provide a real update on October 11. The Court is calling the SEC’s bluff. The Court could’ve dismissed but chose to exercise continuing jurisdiction. https://t.co/VVEiGylwMB
— John E Deaton (@JohnEDeaton1) June 20, 2023
With #BITCOIN up 10% and climbing, it would be nice for a great decision to come out this week being a significant win for all crypto. But a certain group of token holders who have held on to a specific token through incredible fud campaigns, as well as being attacked by the…
With #BITCOIN up 10% and climbing, it would be nice for a great decision to come out this week being a significant win for all crypto. But a certain group of token holders who have held on to a specific token through incredible fud campaigns, as well as being attacked by the…
— John E Deaton (@JohnEDeaton1) June 21, 2023
Thanks to Mike Maurath
🚨 FED CHAIR POWELL RE STABLE COINS: “It would be right to have a robust Federal role in what happens in stable coins — leaving us with a weak role and allowing private money creation at a State level would be a MISTAKE.”
🚨 FED CHAIR POWELL RE STABLE COINS: “It would be right to have a robust Federal role in what happens in stable coins — leaving us with a weak role and allowing private money creation at a State level would be a MISTAKE.” pic.twitter.com/RDShpitBu8
— Jane Adams (@iLoveJaneAdams) June 21, 2023
The message that the #SEC wants to get across to the #CryptoCommunity is "simple", it goes something like...
If you create a #cryptocurrency, never reveal who you are, hide forever, like a modern Satoshi. Otherwise, it's breaking security laws that the SEC is unable to but…
The message that the #SEC wants to get across to the #CryptoCommunity is "simple", it goes something like...
— Oskar Arnarson (@oskararnarson) June 21, 2023
If you create a #cryptocurrency, never reveal who you are, hide forever, like a modern Satoshi. Otherwise, it's breaking security laws that the SEC is unable to but… pic.twitter.com/aoexOuG2a2
Interesting.
XRP doesn't have a case to win. 😂
Interesting.
— Chip – onthechain.io (@stephenchip) June 21, 2023
XRP doesn't have a case to win. 😂 https://t.co/uyYdGxcQQO
WOW…BUT WHAT HE WON’T SAY is that the Fed thinks only large incumbents should service #crypto. Start-ups that comply with all Fed laws, rules & regulations are being kept out, while Fed lets large incumbents proceed. Master acct list revealed stunning incumbent bias by the Fed…
WOW…BUT WHAT HE WON’T SAY is that the Fed thinks only large incumbents should service #crypto. Start-ups that comply with all Fed laws, rules & regulations are being kept out, while Fed lets large incumbents proceed. Master acct list revealed stunning incumbent bias by the Fed… https://t.co/FtsMzObMkK
— Caitlin Long 🔑⚡️🟠 (@CaitlinLong_) June 21, 2023