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STOP THE TRIBALISMIf you love to hate on XRP and/or Ripple, then you will find @laurashin’s interview of attorneys @stephendpalley and @lex_node enjoyable. But if you want to experience unbiased journalism or fair and objective legal analysis don’t waste your time on
this. https://twitter.com/laurashin/status/1352300372413607936
First, let me make it clear, AGAIN, that I’m not here to defend @Ripple, @bgarlinghouse, or @chrislarsensf. They have better lawyers to defend them than me. I don’t care if the SEC issues fines and disgorges them - as long as the money goes to XRP holders. Let me also make clear
that I’m not just an XRP bag holder who is upset that I picked the wrong digital asset to invest in. In fact, my largest crypto investment, by far, is #Bitcoin 
. After #BTC , my next largest crypto investment, by far, is #Ethereum. After #BTC & #ETH, I have investments in #XRP and
. After #BTC , my next largest crypto investment, by far, is #Ethereum. After #BTC & #ETH, I have investments in #XRP and
other digital assets. I’m sharing this information for the first time on Twitter to disabuse people from thinking that I’m just a disgruntled #XRP investor. If you don’t consider the suppression in price, due to the SEC filing, I’ve never even claimed to have lost money on #XRP.
I filed an action against the @SEC_News on behalf of ALL #XRP holders because what the SEC did was wrong. Not wrong against Ripple or it’s two executives; but wrong about what it’s doing to the very people it’s supposed to protect. This alleged journalist and two lawyers offer no
real substantive legal analysis of the SEC’s claims against Ripple, its two executives or #XRP. Instead, it’s a blatant hit job. They clearly don’t like these executives, Ripple or the technology. And that’s ok. Maybe the executives should be disgorged? I don’t know. I don’t
care. What I care about is that the SEC is acting in bad faith. Yet, these lawyers don’t even comment or question: “Why did it take the SEC SEVEN YEARS to file the case?” They don’t question: “Why did the SEC grant approval of the 9% purchase of MoneyGram knowing Ripple would pay
MoneyGram in XRP and then MoneyGram would sell that XRP to exchanges for retail investors to buy?” They don’t question: “Why didn’t the SEC go after Ripple during the 2017 ICO prosecutions?” They don’t question: “Why did the SEC run a node on the XRPL; thereby, conveying and
or validating over $90 Billion in transactions?” Did the SEC charge someone at the SEC related to the conveyance or validation of over $90 billion in unregistered securities? They didn’t question why Jay Clayton; after being warned by Grundfest, wouldn’t wait for the new
administration (less than 30 days away) to provide input; considering the significance of this case; but instead, directed the case be filed on his last full day at the SEC. These lawyers, with @laurashin grinning ear to ear, simply recite the allegations made by the SEC in it’s
Complaint. Then, after reading, what they describe as “egregious” and “fraud like” allegations, claim the case is a “slam dunk” for the SEC. No it’s not! As I pointed out below, not just me, but former SEC lawyers have stated that there is NO WAY that the SEC can prove that
TODAY’s XRP; the XRP sitting in the accounts of people with no connection to Ripple, constitute securities. They may very well prove that specific earlier distributions of #XRP constituted the sale of unregistered securities, but they can’t prove that the XRP in thousands of https://twitter.com/johnedeaton1/status/1351587435558404096
accounts across the world are Securities. Not under the Howey Test. These lawyers or this host make no mention that the U.K.’s FCA categorizes XRP as a non-security-hybrid-token falling into a category between an exchange token and a utility token. There is no mention that
Japan’s FSA categorizes XRP as a non-security. No mention of Switzerland, Singapore or the UAE’s categorization of XRP as a non-security. Any claim that those foreign jurisdictions have zero impact on the analysis of today’s #XRP, because it’s outside the USA, is nonsense.
It’s not controlling, but it’s clearly
relevant when conducting a complete legal analysis. But, as stated, this one-hour podcast episode is far from a legal analysis. I’m usually not this publicly harsh in my comments of others. But when I saw this host and these two lawyers
relevant when conducting a complete legal analysis. But, as stated, this one-hour podcast episode is far from a legal analysis. I’m usually not this publicly harsh in my comments of others. But when I saw this host and these two lawyers
laughing at the fact that #XRP dropped in price from over .60 cents to .27 cents; and then, joked regarding their surprise because it’s not trading at zero; well, it disgusted me. They made a big deal criticizing the two executives for making $600 million, but they show no
sympathy or compassion for the thousands of innocent investors who lost billions. They make no comment that the SEC filed an action seeking $1.3 billion, but, in doing so, cost innocent investors well over $10 billion. The host declared that once she learned about the Howey Test
factors it was obvious to her that #XRP was a security. Has she ever applied her Howey factor analysis to #Ethereum? Her Twitter page highlights her interview with @VitalikButerin so she must be well immersed into the #ETH story? Is she aware that the SEC could make similar
claims against #Ethereum? Did they make any fair comparisons to #ETH in their analysis? No. I did. See below. @laurashin enjoys discussing the SEC’s allegation of market manipulation by @Ripple. Did she or these lawyers look into how other token projects have incentivized https://twitter.com/johnedeaton1/status/1346960578112319488
exchanges to list it’s token? Are they familiar that others did so in 2016? Can they say, with confidence, that it doesn’t happen today? They made a big deal about Ripple allegedly manipulating the timing of sales with exchanges. Since Vitalik is plastered on her Twitter page,
I’m sure she is aware of the time Vitalik got all the main exchanges to stop trading #ETH? It may seem like I’m taking shots at #Ethereum. I’m not. I’ve accumulated #ETH since 2016. But fair is fair. Every Alt Coin starts out, arguably, as a security. The #XRP I hold in my
wallet is no more of a security than the #ETH in my wallet. And this bullshit tribalism needs to stop. Coincidentally, just last night, I tweeted a 
warning Thread on how, if the SEC is successful in declaring Today’s XRP a security, all of Crypto could be in 
danger .
warning Thread on how, if the SEC is successful in declaring Today’s XRP a security, all of Crypto could be in danger .
I even argued that the
King of all Crypto, #Bitcoin , could be argued by motivated bureaucrats to be a security in limited scenarios. Interestingly, in this podcast with @laurashin, and these two lawyers, one of the lawyers, near the end, brought up the fact that former
King of all Crypto, #Bitcoin , could be argued by motivated bureaucrats to be a security in limited scenarios. Interestingly, in this podcast with @laurashin, and these two lawyers, one of the lawyers, near the end, brought up the fact that former
SEC Chief Joseph Grundfest at one time, claimed #Bitcoin was a security. 
Instead of cheering on the SEC’s attack on #XRP maybe people should pay attention to the real threats surrounding our beloved digital asset space. If #XRP sucks as a technology then it’s fate should be
was a security. Instead of cheering on the SEC’s attack on #XRP maybe people should pay attention to the real threats surrounding our beloved digital asset space. If #XRP sucks as a technology then it’s fate should be
sealed. The market should decide the winners and the losers, not the government. Otherwise https://twitter.com/johnedeaton1/status/1352455369671503873
https://twitter.com/johnedeaton1/status/1352455369671503873