What tools 🛠 in the tool 🧰 box have you utilized other than enforcement? You’re a one trick pony and you had back door meetings with the number one fraudster in Crypto while you punished good actors.
Considering the SEC is the #2 largest creditor in the BlockFi Bankruptcy, it certainly isn’t BlockFi customers.
Who did he protect from pushing the @Ripple XRP case?
75K #XRPHolders wanted to be heard and he fought them.
Who did Gensler protect by bringing the @LBRYcom case?
The SEC has conceded that people like @naomibrockwell are users of the platform and did not acquire #LBC for investment but the SEC refuses to clarify that those innocent users are NOT holding an unregistered security.
Who is he protecting from suing @dragonchain which sold a software micro license governed by the Ethereum blockchain, which the SEC said was sufficiently decentralized in 2018?
We can only identify one group of people the SEC has “attempted to protect.” They brought a case against @FTX_Official and @SBF_FTX on behalf of a couple dozen wealthy VCs. Gary Gensler and the @SECGov do not even pretend to care about the retail investor.
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On Jan. 1, 2021 - 9 days after the @Ripple case - I filed a Writ of Mandamus 🆚 @SECGov stating that the Complaint made no sense the way it was written and alleged unless it was filed b/c of ulterior motives and I argued that the SEC coming after crypto was one of those motives.
Many, including lawyers, called me out saying that the case was not about anything other than @Ripple and #XRP. I did a video over a year ago saying every alt coin was in danger from the SEC and the approach it was taking relative to #XRP, including #ETH.
How the hell does a piece of software code lose protection or apologize?
When he says XRP lost its right to protection he is implying that individual holders deserve no protection.
I don’t give a shit if you adore Vitalik - this is inexcusable and it shows a complete lack of emotional maturity. He can say anything he wants about @Ripple@JoelKatz@bgarlinghouse@chrislarsensf - they can speak for themselves. I don’t have shit to say about those comments.
#NickMorgan, on behalf of #ICAN, and myself, on behalf of @naomibrockwell filed motions for leave to file amicus briefs in support of @LBRYcom’s Motion to Limit the @SECGov’s Remedies.
Among other things, the SEC is seeking a permanent injunction, regarding the sale of #LBCs.
LBRY’s CEO, @jeremykauffman, agreed to dissolve LBRY and burn all existing pre-mined #LBC. With no #LBRY and no #LBC, he informed the Judge👨⚖️ that clearly it can’t be argued that secondary market #LBC holders and users are relying on LBRY’s efforts moving forward.
The Judge 👨⚖️ held a status conference on Nov. 21. I’ve read the notes 📝 from that conference and when the transcript is published, people will learn that @jeremykauffman spoke up directly to the Judge informing him that #LBC users deserve clarity regarding his decision.
Jason, in your litigation with the SEC, please know that some of the emails you’ve requested have already been searched and were produced to @Ripple during the litigation of that case.
During the Hinman deposition, Ripple attorneys marked emails as exhibits.
The deposition and emails have not been 💯 unsealed yet. But if you go to my Crypto-Law.us page and pull the Hinman deposition, you will read how Ripple lawyers questioned Hinman about emails from @ethereumJoseph and/or other folks from @ConsenSys.
I predicted if LBRY lost 2 things would happen: 1) the SEC would rush the decision to Judge Torres acting as if the Supreme Court ruled; and 2) people would come out of the shadows and claim Ripple & XRP will share the same fate.
And that’s exactly what we’ve seen. Many of these folks haven’t read 1 brief in the case and the ones that did, read the SEC’s last brief (which, in all honesty, was the SEC’s best work product in the case).It was better b/c it was a REPLY brief, responding to Ripple’s arguments.
But Ripple doesn’t have the BURDEN OF PROOF - the SEC does. The SEC did a decent job at replying to Ripple’s pre-1934 Blue Sky Laws argument.
The SEC also did a decent job attacking Ripple’s argument that there MUST be an underlying contract for an investment contract to exist.
So, I tweeted out the below 🧵 and w/in 30 minutes, I was getting DMs and emails at my law firm asking me how much 💰 the @Ripple executives are paying me to ✍️ my 🧵s. 🤦
When someone tweets out that they think the Ripple executives gifted themselves too much #XRP, I don’t challenge what they say. It’s a fair criticism. When someone says Ripple owns too much XRP and that fact makes them less attracted to the token or project I don’t argue w/them.