@JoeSquawk @andrewrsorkin @BeckyQuick
I know you’re aware that J. Clayton directed a lawsuit against @Ripple @bgarlinghouse & @chrislarsensf and alleged that the Token itself, #XRP, is a security. You’re aware of the mass exodus of the senior SEC staff behind the lawsuit.
1/7
I know you’re aware that J. Clayton directed a lawsuit against @Ripple @bgarlinghouse & @chrislarsensf and alleged that the Token itself, #XRP, is a security. You’re aware of the mass exodus of the senior SEC staff behind the lawsuit.
1/7
https://twitter.com/johnedeaton1/status/1475927077924880399
2/7
You realize, if the @SECGov truly believes XRP is a security then every offer and sale is illegal and should be prevented. Why didn’t it seek an injunction to prevent Ripple, Brad or Chris from continuing to sell? Why didn’t it issue a cease & desist against the co-founder?
You realize, if the @SECGov truly believes XRP is a security then every offer and sale is illegal and should be prevented. Why didn’t it seek an injunction to prevent Ripple, Brad or Chris from continuing to sell? Why didn’t it issue a cease & desist against the co-founder?
3/7
Are you aware that co-founder @JedMcCaleb has made over $2B dollars from sales of XRP - SINCE THE LAWSUIT WAS FILED?
That’s right: Jed has made more from sales of XRP in one year than what the SEC is seeking from the actual defendants in the lawsuit (the SEC seeks $1.3B).
Are you aware that co-founder @JedMcCaleb has made over $2B dollars from sales of XRP - SINCE THE LAWSUIT WAS FILED?
That’s right: Jed has made more from sales of XRP in one year than what the SEC is seeking from the actual defendants in the lawsuit (the SEC seeks $1.3B).
4/7
It should be noted, I personally don’t believe Jed McCaleb or Ripple has done anything wrong by continuing to sell XRP. I raise the issue only to demonstrate the hypocrisy, inconsistency and absurdity regarding the SEC’s allegations and legal theory related to this case.
It should be noted, I personally don’t believe Jed McCaleb or Ripple has done anything wrong by continuing to sell XRP. I raise the issue only to demonstrate the hypocrisy, inconsistency and absurdity regarding the SEC’s allegations and legal theory related to this case.
5/7
The Judge presiding over the discovery of this case, Judge Netburn, acknowledged the overreaching theory of the SEC’s claims. She recognized, according to the SEC’s argument, that every person in the world selling XRP would be violating the securities laws.
See 👇
The Judge presiding over the discovery of this case, Judge Netburn, acknowledged the overreaching theory of the SEC’s claims. She recognized, according to the SEC’s argument, that every person in the world selling XRP would be violating the securities laws.
See 👇
6/7
Despite this claim by the SEC, it did not seek an injunction to stop Ripple or it’s co-founders from continuing to violate the law. Why not? I submit it’s because this case was NEVER about securities laws. As you know, there were and are major appearances of impropriety.
Despite this claim by the SEC, it did not seek an injunction to stop Ripple or it’s co-founders from continuing to violate the law. Why not? I submit it’s because this case was NEVER about securities laws. As you know, there were and are major appearances of impropriety.
7/7
But that’s a difference thread. Did you know that some #XRPHolders have their life savings in XRP and its frozen in IRA accounts while the defendants who allegedly broke the law get to continue to sell XRP?
Do you think that’s worth reporting? Because @GaryGensler doesn’t.
But that’s a difference thread. Did you know that some #XRPHolders have their life savings in XRP and its frozen in IRA accounts while the defendants who allegedly broke the law get to continue to sell XRP?
Do you think that’s worth reporting? Because @GaryGensler doesn’t.
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