Watch @Santiag78758327 conduct this interview and you will get excited about future possibilities and see true innovation at work. SPEAKING OF FLARE - here is a relevant SEC v. RIPPLE THREAD:
During the time period that the SEC claims XRP was an unregistered security, the SEC https://twitter.com/flarenetworks/status/1349631611306995713
was well aware that @FlareNetworks , a SEPARATE ENTITY from Ripple, announced, promoted, and then executed a Digital Asset Token Airdrop for all XRP holders. The Flare Networks CEO @HugoPhilion stated “over the next Quarter, we will set out plans to trustlessly integrate XRP
with Flare.This will enable smart contracts with XRP, on a next generation blockchain, with settlement on the XRPL.” Flare’s CEO explained that this integration with XRP and the XRPL, “is called a utility fork and it’s the FIRST OF IT’S KIND.” Flare Networks informed the public
(this includes the SEC), that a Digital Asset called the “Spark Token” would be Airdropped into all accounts that held XRP, assuming the exchange that each XRP holder used participated in the Airdrop. Flare informed the public (this includes the SEC), that each investor holding
XRP would receive, by Airdrop, a Spark Token for every XRP. Flare informed all parties that a snapshot would be taken of all XRP accounts/wallets on December 11-12, 2020. All the major exchanges, including Coinbase, Kraken, Uphold, Binance, etc. participated in the snapshot.
Based on this promotion, new XRP accounts hit a ONE YEAR HIGH. The SEC ALLOWED this snapshot to take place and XRP holders are scheduled to receive Spark Tokens equal to slightly more than the number of XRP tokens held on the snapshot day.
IF XRP IS AN UNREGISTERED SECURITY, WHAT CLASSIFICATION DOES THE SPARK TOKEN FALL UNDER? If the SEC and Clayton actually
believed XRP were illegal securities, WHY WOULD THEY ALLOW AN AIRDROP BASED ON THOSE SAME ILLEGAL SECURITIES? They wouldn’t - if they honestly believed all
XRPs are securities. The Spark Token Airdrop is another example of the SEC’s actions/inactions providing a de facto declaration that the XRP we purchased ARE NOT securities. BTW, Flare’s integration of XRP, bringing the utility of Smart Contracts, ALONE, makes XRP a NON-SECURITY.
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