1/n
π’π¨
π Are you a #cardano $ada community member?
π Confused about recent #ripplelawsuit & SEC?
π Seeing a lot of fud around? π±
Answered yes to above Qs? I got you. I'll tweet few πs.
π‘ Spread the knowledge, not the fud.
Thread #1 πππ #notafinancialadvice π
π’π¨
π Are you a #cardano $ada community member?
π Confused about recent #ripplelawsuit & SEC?
π Seeing a lot of fud around? π±
Answered yes to above Qs? I got you. I'll tweet few πs.
π‘ Spread the knowledge, not the fud.
Thread #1 πππ #notafinancialadvice π
2/n
π‘ Who or what is SEC?
π "The mission of the SEC is to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. The SEC strives to promote a market environment that is worthy of the public's trust."
π‘ Who or what is SEC?
π "The mission of the SEC is to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. The SEC strives to promote a market environment that is worthy of the public's trust."
3/n
π The Securities And Exchange Commission (SEC) was created in 1934 to help restore investor confidence in the wake of the 1929 stock market crash.
π The Securities And Exchange Commission (SEC) was created in 1934 to help restore investor confidence in the wake of the 1929 stock market crash.
4/n
π SEC is NOT an evil institution that is out there to get you. While not perfect - they rarely do something without merit. π€
π Their role is actually extremely important if carried out thoughtfully. π€
π SEC is NOT an evil institution that is out there to get you. While not perfect - they rarely do something without merit. π€
π Their role is actually extremely important if carried out thoughtfully. π€
5/n
Why #ripple? Let's take notes:
π Sold 14.6+ Billion $xrp in return for cash/other considerations to fund Ripple's operations and enrich Larsen & Garlinghouse (execs).
π Despite being U.S. based, Ripple seems to have omitted SEC registration or application of exemption.
Why #ripple? Let's take notes:
π Sold 14.6+ Billion $xrp in return for cash/other considerations to fund Ripple's operations and enrich Larsen & Garlinghouse (execs).
π Despite being U.S. based, Ripple seems to have omitted SEC registration or application of exemption.
6/n
π allegedly created information vacuum that a general XRP holder would be unable to understand and essentially turned key executives into beneficiary insiders
π allegedly created information vacuum that a general XRP holder would be unable to understand and essentially turned key executives into beneficiary insiders
7/n
π Ripple and execs have supposedly been advised multiple times that such behaviour could be in violation of applicable laws but have not acted upon.
π Ripple and execs have supposedly been advised multiple times that such behaviour could be in violation of applicable laws but have not acted upon.
8/n
π Ripple used the money to run the operations, supposedly without disclosure of how & what these funds are used for exactly.
π But there is bigger problem here - and that's fiduciary steps of the execs.
π Ripple used the money to run the operations, supposedly without disclosure of how & what these funds are used for exactly.
π But there is bigger problem here - and that's fiduciary steps of the execs.
9/n
π Ex CEO (current Chairman of the Board), and current CEO have benefited personally with $600 million from these unregistered sales of $xrp. π
π Execs have claimed publicly being 'long term holders' while failing to disclose their actual sales of their $xrp.
π Ex CEO (current Chairman of the Board), and current CEO have benefited personally with $600 million from these unregistered sales of $xrp. π
π Execs have claimed publicly being 'long term holders' while failing to disclose their actual sales of their $xrp.
10/n
π Just by being curious - you immediately can question few steps - could they end up with insider knowledge and trading?
π Why do you raise the money, pay back yourselves, & the go on further to raise more money? Greed?
π More than anything - this is π here, I'd say.
π Just by being curious - you immediately can question few steps - could they end up with insider knowledge and trading?
π Why do you raise the money, pay back yourselves, & the go on further to raise more money? Greed?
π More than anything - this is π here, I'd say.
11/n
π‘Feel free to dig your heels further via official SEC vs. #ripplelawsuit filling doc: sec.gov/litigation/comβ¦
π― FYI - you can always find everything SEC does on the EDGAR: sec.gov/edgar/search-aβ¦
π‘Feel free to dig your heels further via official SEC vs. #ripplelawsuit filling doc: sec.gov/litigation/comβ¦
π― FYI - you can always find everything SEC does on the EDGAR: sec.gov/edgar/search-aβ¦
12/n
Do we think SEC is equipped to handle #crypto world effectively, yet? Will see. π€·ββοΈ
π What we do know is that average holder is now caught in the middle - paying the price. π°
π Now back - to #cardano and why pointing fingers this way makes no sense.
Do we think SEC is equipped to handle #crypto world effectively, yet? Will see. π€·ββοΈ
π What we do know is that average holder is now caught in the middle - paying the price. π°
π Now back - to #cardano and why pointing fingers this way makes no sense.
13/n
Q1: Were #cardano vouchers sold in the US or direct/mainly to US citizens?
A1: NO. To raise funds for the development, the group wanted to do an initial coin offering (ICO) focused on Asian markets.
π‘ Thus, Cardano held its ICO in Japan with majority Japanese investors.
Q1: Were #cardano vouchers sold in the US or direct/mainly to US citizens?
A1: NO. To raise funds for the development, the group wanted to do an initial coin offering (ICO) focused on Asian markets.
π‘ Thus, Cardano held its ICO in Japan with majority Japanese investors.
14/n
π To quote:
"They said it would be really nice to do a large-scale distribution in Asia, as opposed to the Western world, which is already saturated with cryptocurrencies," Hoskinson said, in an interview with Bitcoin Magazine.
π π
π To quote:
"They said it would be really nice to do a large-scale distribution in Asia, as opposed to the Western world, which is already saturated with cryptocurrencies," Hoskinson said, in an interview with Bitcoin Magazine.
π π
15/n
π
"Because none of those vouchers were sold to U.S. citizens, the sale did not fall under the umbrella of the U.S. Security and Exchange Commission rules . "There was some regulatory advantages to offshoring it," said Hoskinson.
Source: nasdaq.com/articles/iohk-β¦
π
"Because none of those vouchers were sold to U.S. citizens, the sale did not fall under the umbrella of the U.S. Security and Exchange Commission rules . "There was some regulatory advantages to offshoring it," said Hoskinson.
Source: nasdaq.com/articles/iohk-β¦
16/n
π‘ Okay - but anyone could do anything - where are the companies actually based that founded #cardano? I can guarantee you - majority of people are confused about this, despite knowing IOHK acronym. π π€
π‘ Okay - but anyone could do anything - where are the companies actually based that founded #cardano? I can guarantee you - majority of people are confused about this, despite knowing IOHK acronym. π π€
17/n
First - who founded Cardano? The big3β£:
π Input Output HK is HQ'ed in Hong-Kong.
π Emurgo is HQ'ed in Singapore (originally in Japan)
π Cardano Foundation is based in Switzerland
Remember - we think several years & decades ahead. Not beyond the 1st quarter. π
First - who founded Cardano? The big3β£:
π Input Output HK is HQ'ed in Hong-Kong.
π Emurgo is HQ'ed in Singapore (originally in Japan)
π Cardano Foundation is based in Switzerland
Remember - we think several years & decades ahead. Not beyond the 1st quarter. π
18/n
Ripple, by contrast, is a fully U.S. based tech company.
"...has an office in this District. All Defendants sold or orchestrated sales of XRP to purchasers residing (there) & enlisted, entities domiciled...to sell the securities at issue in this case.
Ripple, by contrast, is a fully U.S. based tech company.
"...has an office in this District. All Defendants sold or orchestrated sales of XRP to purchasers residing (there) & enlisted, entities domiciled...to sell the securities at issue in this case.
19/n
Q2: Have #cardano founding entities/execs resulted in price manipulation by withholding info about their positions? & acting on it?
A2: No. In fact, ALL is on blockchain & open source - these can be tracked VERY easily from the Genesis times:
web.archive.org/web/2019011415β¦
Q2: Have #cardano founding entities/execs resulted in price manipulation by withholding info about their positions? & acting on it?
A2: No. In fact, ALL is on blockchain & open source - these can be tracked VERY easily from the Genesis times:
web.archive.org/web/2019011415β¦
20/n
π‘ In fact - to scrape the top - @CardanoStiftung + @InputOutputHK are both actively participating in community delegation strategies to enhance ecosystem. Hence, elevating system forward.
1β£IOHK: iohk.io/en/blog/posts/β¦
2β£Cardano Foundation: forum.cardano.org/t/cardano-founβ¦
π‘ In fact - to scrape the top - @CardanoStiftung + @InputOutputHK are both actively participating in community delegation strategies to enhance ecosystem. Hence, elevating system forward.
1β£IOHK: iohk.io/en/blog/posts/β¦
2β£Cardano Foundation: forum.cardano.org/t/cardano-founβ¦
21/n
Q3: Has our leadership been too concerned about $ada token prices?
A3: NO. On countless occasions, this has been stressed that methodical & scientific way is how #cardano shall forge its future.
Not through market games/manipulation. We are NOT here to make you rich! π¨
Q3: Has our leadership been too concerned about $ada token prices?
A3: NO. On countless occasions, this has been stressed that methodical & scientific way is how #cardano shall forge its future.
Not through market games/manipulation. We are NOT here to make you rich! π¨
22/22
Like the sound of that? πͺ
π€ Come join our amazing community. We are bunch of weird misfits from all over the world with extremely varied backgrounds - but ONE common goal. π―
π‘ 'We are #cardano. And if you will permit us, we'd like to change the world.' CH π
$ada
Like the sound of that? πͺ
π€ Come join our amazing community. We are bunch of weird misfits from all over the world with extremely varied backgrounds - but ONE common goal. π―
π‘ 'We are #cardano. And if you will permit us, we'd like to change the world.' CH π
$ada
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