Remember when @ethereumJoseph tried to argue @Ripple and #XRP weren’t competitors to #Ether? That was a definite signal that #XRP was, in fact, viewed as a threat. In 2018, when Lubin made that assertion, #XRP was battling #Ether for the #2 spot behind #Bitcoin

Now read this👇
I don’t represent @Ripple. I do represent, however, 58K #XRPHolders and calling #XRP a “useless token” is both idiotic and untrue. Having that much animus against #XRP AFTER #Ether was given a regulatory free pass nonetheless proves #XRP was and still is perceived as a threat.
@CGasparino’s tweet below👇 is part of the #Ether free pass timeline. It was Andrew Keys who slipped up and told Gasparino that the Brooklyn Project’s efforts were approved by the SEC. One would assume a free pass would generate more grace and confidence in those who benefited.
Was #XRP useless when the @wef listed it as one of two most relevant crypto-assets related to inter- and intrabank payments and settlements regarding wholesale CBDCs?👇

The WEF page👇 lists #JPMCoin as a competitor to #XRP. Of course JPM Coin is directly tied to Lubin and Keys.
One would also believe that Andrew Keys or Joe Lubin would hesitate before attempting to argue that #Ether was never an ICO and that it’s simply “digital fuel like ⛽️ needed to run a 🚙 “ See👇

The problem for them is that we know who came up with this gasoline / fuel theory.👇
Steven Nerayoff is sometimes described as the #Ether Architect and sometimes as co-creator of #Ether. Regardless of title, he was the legal advisor👇who came up with the theory that #Ether is simply a product - like gasoline for a car - a theory adopted by Keys and Lubin.
The hypocritical irony is that @bgarlinghouse and @chrislarsensf have been charged with aiding and abetting Ripple in selling unregistered securities. The SEC must prove that they either believed #XRP was a security or they were reckless in not realizing #XRP is a security.
It’s very doubtful, based on the evidence, that the SEC will be able to prove actual knowledge or recklessness against the two Ripple executives.

As a former federal prosecutor, I can tell you, a monkey 🐒 could prove knowledge or recklessness against the #Ether founders.
A 🐵 could do it b/c #XRPHolders, led by sleuths like @digitalassetbuy @BakkupBradley and others, have already proven knowledge and intent using their own words. They knew #Ether’s ICO was an unregistered securities offering.

i.e., They were afraid the FBI would arrest them.👇
Co-founder Chetrit left the #Ether project because he was worried about the “very real possibility they would all end up in jail for securities violations.”👇
In the video👇 Steven Neyaroff admits lawyers initially informed them that #Ether’s crowd sale was an unregistered securities offering. Neyaroff, himself, acknowledges that the #Ether ICO violated securities laws.👇

Hence, my point, a 🐒 could prove up the case against #Ether.
In the video above👆 Neyaroff tells the truth about the #Ether ICO because #Ether was given the regulatory free pass - so no worries.

But let’s look at how they attempted to describe the ICO BEFORE being handed the Hinman free pass.
The above👆video attempts to make clear that the co-founders didn’t sell to investors and that #Ether was a software product for developers to build their own products.

After playing the video 👆, my trained 🐒 would hit play on the next video below.👇
From the very beginning the #Ether founders were aware of U.S. securities laws and that if they sold to U.S. investors it would be a serious problem. It’s why they incorporated in Switzerland - to try and avoid complying with U.S. regulations. 👇
And its not just Lubin or Neyaroff or Keys that played the word games. They all were given instructions to AVOID using particular words like: #invest: #investor or #investment. Watch Gavin Wood, in May 2014, slip and use the word “invest”. 👇
There are many more video clips I could use to make my point (too long for Twitter), like the clip of @VitalikButerin saying he wanted the #Ether crowd-sale to be open for “anyone” to buy.

Certainly the clip below👇 doesn’t cast Lubin and others in a favorable light.
Although its without question or debate that #Ether started out a security, I don’t believe its a security today (many disagree). But #Ether fits the definition of a security a hell of a lot more than #XRP does.

But let’s return to Andrew Keys’ claim #XRP is a useless Token.
Why is it still in the Top 7 (especially considering the SEC case)? Why are many developers independent of Ripple utilizing it?

Are you aware that #Bitcoin’s scalability problem has been solved utilizing the #XRPLedger as a Layer 2 solution via @Spend_The_Bits?

Explain this:👇
If Andrew Keys is correct and #XRP is a useless token, why does Japan’s SBI believe in it so much? Why does @TimDraper own it? Why does @RaoulGMI own it? Why does @wolfofwallst own it? The #XRPL is an amazing technology. It contains the world’s first DEX. It simply works.
@AndrewDARMACAP says the XRPL is centralized.👇Ripple controls <5% of the validators. Ripple’s amendment to the #XRPL was vetoed. A super majority could force Ripple to burn its tokens. Yet, Vitalik stopped the trading of #Ether (for a valid reason). As for 2.0 centralization:👇
As for the “#Ether is a product analogous to⛽️ needed to run your 🚙” argument: some should let that argument go. After all, the Grand Architect of that schematic word play may no longer be a credible source. Plus, you should never give credit to someone looking to cut a deal. 👇
If you don’t like Ripple - who cares! Why hate on a token owned by millions of individual investors? Why not just accept the free pass; be appreciative; have a little grace; and 🤫?

On second thought: keep talking. Otherwise, we might not have been able to piece it together.👇

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More from @JohnEDeaton1

22 Oct
Go to to find what you need related to the @Ripple / #XRP case. Read Howey for yourself.
The Howey Test:

“The test is whether the scheme involves an investment of money in a common enterprise with profits to come solely from the efforts of others.”
Notice the word “scheme” is used, NOT “asset”.

The very next sentence reads:

“If that test be satisfied, it is immaterial whether the enterprise is speculative or non-speculative or whether there is a sale of property with or without intrinsic value.”
Why does the SEC focus so much on the underlying asset? Anything can be “schemed”, packaged and marketed as an investment contact aka security.

The Orange Groves or the 🍊 weren’t the securities. The SEC also keeps arguing that the only utility for #XRP is speculation.
Read 4 tweets
21 Oct
William Hinman gave Ether a free pass regarding its ICO because he adopted the decentralization argument fed to him by prominent Ether investors.

That’s a fact, not an opinion. Nancy Wojtas was there and she speaks the truth. @CGasparino @EleanorTerrett @LizClaman @TeamCavuto👇
Hinman never explained exactly what about Ether’s “decentralized structure” caused sales of Ether to fall outside the U.S. securities laws. Its
3 1/2 years later and market participants and investors still don’t know how to define “sufficient decentralization.”
@Ripple fought hard to get any evidence related to the SEC’s analysis of Ether, #Bitcoin and XRP.

If Ripple can show the #XRPLedger is equal or more decentralized than the Ether Network, Ripple could win based on fair notice.

But what does “sufficiently decentralized” mean?
Read 25 tweets
11 Oct
#XRPHolders 🆚 @SECGov 🆚 @Ripple


Mar. 23, 2017: Clayton agrees to recuse himself from voting on any matter related to his law firm’s (Sullivan & Cromwell) clients;

Nov. 30, 2017: Lubin & Consensys announce the Brooklyn Project
Dec. 13, 2017: Hinman has a meeting w/ Lubin & Consensys and lawyers from Sullivan & Cromwell (Clayton’s law firm);

Dec. 14, 2017:
Matt Corva of Consensys (along w/ lawyers from Sullivan & Cromwell) state that they are building an alliance with the SEC;
Jan. 25, 2018: Clayton meets with Andreesen & Horowitz and instructs them to put together a group and write up a memo. Perkins Coie, a member of the EEA, leads this group of Ether investors;

Mar. 12, 2018: @bgarlinghouse speaks publicly about Ripple using #XRP to replace SWIFT;
Read 25 tweets
10 Oct
Why would someone who dislikes @Ripple or @bgarlinghouse and doesn’t own #XRP want to join the fight against the SEC?

Read the Complaint filed by the SEC and ignore the noise it intentionally alleges in order to distract and divide. Thank God the judges are paying attention.👇
In the Order granting #XRPHolders amici, the Court takes notice of the absurd allegation that Ripple created the secondary market for XRP AND because exchanges sold the XRP that Ripple sold to them to the public we ALL entered into a common enterprise with Ripple AND each other🤦‍♂️
Skeptics will argue the Court misunderstands what the SEC is alleging. But the Court is 💯 on 🎯

Below are actual paragraphs from the Complaint. The over-broad far-reaching allegations could be applied to any crypto asset, including #Bitcoin
It’s both absurd and dangerous.⛔️
Read 4 tweets
11 Sep

Who was on the 63 emails that included a draft of the speech?

Where is Hinman’s public calendar?

Who purchased large quantities of #Ether between December 2017 to June 13, 2018?

$10k in #ETH ICO = a net worth more @GaryGensler👇
@ethereumJoseph received 9.5% of #ETH as a co-founder.

Everyone knows @VitalikButerin and Lubin held an ICO through crowdfunding which was without a doubt an unregistered securities offering.

Where was @SECGov?

Where is outrage from those that attack @Ripple & #XRP?
One River bet $1 billion on #BTC and #Ether in October 2020. Two months later on his last day at the @SECGov, Clayton directs the enforcement action against @Ripple and #XRP. Twelve weeks later, Clayton joins One River.

Clayton’s law firm represented Lubin and #Consensys.
Read 25 tweets
3 Sep
Consider the following:

Clayton and Hinman worked closely together before the @SECGov. Clayton brings Hinman on board to join him and the #SEC.

Joe Lubin @ethereumJoseph is co-founder of #Ether and founder of #Consensys.

Clayton’s law firm represented Lubin and #Consensys.
Hinman’s law firm was on the Board of the #EtherAlliance and represented clients involved with the #Ethereum Foundation.

Hinman met with Lubin and Consensys prior to his June 14, 2018 #BTC and #Ether are not securities speech.

Lubin was part of the Hinman speech conference.
In October 2020 One River makes a $1 billion bet on #BTC & #Ether.

2 months later on his last day at the SEC Clayton directed the filing of the enforcement action against @Ripple @bgarlinghouse & @chrislarsensf asserting the ridiculous claim that even Today’s #XRP is a security
Read 7 tweets

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