I accidentally tweeted before I finished: but here’s a few more thoughts to consider:

What about the thousands of #XRPHolders who acquired XRP for non-investment purposes? What does the SEC say about that: 👇👇 Image
THE SEC CLAIMS THAT NO SIGNIFICANT NON-INVESTMENT USE EXISTS FOR #XRP.

What about the thousands of #XRPHolders who acquire the minimal amount of XRP to utilize the #XRPL and the DEX to purchase #CSC or other tokens? Or the thousands that utilize it as a bridge / transfer asset?
THE SEC MAKES THE ABSURD CLAIM THAT #XRPHOLDERS ENTERED INTO A COMMON ENTERPRISE NOT ONLY WITH RIPPLE BUT ALSO WITH ALL OTHER #XRPHOLDERS.

For those of you who think I’m making this 💩 up, read for yourself what the SEC alleges: 👇👇👇 Image
You read that correctly. How do you enter into a common enterprise with all other #XRPHolders?

I know for a fact that tens of thousands of #XRPHolders acquired #XRP for the first time completely unaware of @Ripple. How do you rely on promises & efforts if you’re unaware of them?
Read other paragraphs contained within the Complaint pictured below. Now substitute #XRP with #Ether, #XLM, #ALGO, or even #Bitcoin and the same reasoning applies. If the SEC is successful declaring #XRP itself a security, all the Altcoins are in danger. ImageImageImage

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More from @JohnEDeaton1

7 Nov
The @SECGov has sued @Ripple, @bgarlinghouse and @chrislarsensf for $1.3 Billion dollars alleging #XRP is an unregistered security.

The SEC claims that today’s #XRP including the #XRP traded in the secondary market are all investment contracts with Ripple. 👇👇👇 Image
Does the SEC truly believe that all #XRP are securities - even the XRP sold by exchanges independent of Ripple?

If it truly believed all #XRP are securities, why didn’t the SEC order @JedMcCaleb to cease and desist from selling his billions of #XRP?
Why didn’t it seek a preliminary injunction to stop Ripple from selling any of its billions of escrowed #XRP?

If all #XRP are securities - as alleged by the SEC - why didn’t it attempt to stop anyone who was paid millions or billions in XRP from selling once the case was filed?
Read 10 tweets
6 Nov
THE SEC CLAIMS ALL #XRP ARE UNREGISTERED SECURITIES.

Here is proof from the Complaint itself, filed by the SEC👇
#XRPHOLDERS SUED THE SEC ASKING IT TO AMEND THE COMPLAINT AND ONLY ALLEGE #XRP IS A SECURITY WHEN @Ripple SELLS #XRP.

#XRPHolders argued that the SEC could not in good faith claim that the #XRP traded in the secondary market, completely independent of Ripple, were securities.
BUT THE SEC REFUSED.

Incredibly, the SEC argues ALL #XRP are investment contracts with Ripple.

“The XRP traded, even in the secondary market, is the embodiment of those facts, circumstances, promises and expectations, and today represent that investment contract.” 👇👇👇
Read 4 tweets
1 Nov
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.
Read 22 tweets
22 Oct
Go to crypto-law.us 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

THESE ARE THE FACTS AND THEY ARE NOT IN DISPUTE:

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

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