#XRPArmy
Gives!
@ken_xrp
& Fred's Not So Random Acts Of Kindness Project! I hope at least 17 of you consider donating 30 XRP to Loaves and Fishes Family Kitchen. Donations go straight to the charity using Crypto For Charity platform. Instructions here:
On April 11, 2022, a class action lawsuit was filed against Mssrs. Clayton and Hinman for tortious interference in ALL XRPL Network Users' valid business expectancy in the XRPL Network. The Lead Plaintiff and my client, Shannon O'Leary, decided to take a stand. 13/20
Sooooooooo much good stuff in here...for $XRP. Soooooooooo much bad stuff for almost every other crypto. It's looking like a lot of projects will still have to run "The Ripple Gauntlet" to get to the same place.
BOOM! Summary judgment is in and it's a doozy. But the SEC took a big loss. Ripple programmatic sales are not investment contracts. Take that to the bank.
Well, after looking at the unredacted Ripple Opposition to SEC MSJ and Rule 56.1, it's disgusting how the
@SECGov
operated. Disgusting how it let Hinman get away with that speech. Disgusting how SEC purposefully made it official, behind-the-scenes policy to deliberately...1/3
BREAKING! The Court in our
#ETHDec
case granted
@SECGov
's motion to dismiss but at the same time confirmed there is no protection for
#ETH
as a non-security. At this point in time in the US, only
#BTC
and
#XRP
are large cap tokens that have legal clarity.
#XRPCommunity
Thoughts on a wonderful win: 1st, although expected given the high burden
@SECGov
needed to carry, this win was amazing given J. Torres was making me sweat (but not
@attorneyjeremy1
who called end of September!). 2nd, we have more context of J. Torres'...1/5
WOW! OMG! LFG! IOEA!
I'm now aware of 7 of Ripple's expert witnesses. It's like looking at the 1992 Dream Team (which not only won gold, but massacred every opponent on the way there). Every one was meticulously chosen to address a highly specialized area of this case and...1/6
#XRPArmy
It's been a heck of a day. I wanted to share some thoughts after a crazy day. First, the amount of support and good vibes from everyone one, although not totally unexpected, was even far beyond what I thought it would be. And I had high expectations.
The SEC will continue its march towards domination of crypto unless stopped. After 14 years, Congress is not stopping it. Other gov agencies aren’t stopping it. The industry leaders (except a few) aren't stopping it. Sickeningly, some “leaders” are facilitating the SEC. 1/7
A stand against what those two did to intentionally harm hundreds of thousands of people, not just in the United States but around the world. I am serving as Shannon's lawyer in my own personal capacity and with no affiliation but my own. 14/20
The
#XRPArmy
didn't ask for this fight. It didn't start this fight. But it WILL win this fight. And here is where the most important question comes into play...18/20
My thoughts on the emails being released:
The first point is that
@SECgov
appears to be entering the final Stage of Grief: Acceptance. I’m surprised it did not request an appeal on the email issue bc that was a free automatic delay—just asking and ultimately not even...1/10
Over 18 months and 6 court orders later, we finally have the Hinman docs (internal SEC emails and drafts of his infamous 2018 speech). While they remain confidential for now (at the SEC’s insistence), I can say that it was well worth the fight to get them.
...in order to destroy it. It didn't have to be like this. The XRPL Network--like ALL blockchain networks--should have been given A LEVEL PLAYING FIELD. 17/20
@Bitboy_Crypto
Mr. Clayton and Mr. Hinman through their actions described in the complaint (linked in final tweet), and operating outside of the SEC, took unreasonable and improper action to help their former (and now-current) clients target a rival, competitor blockchain network...16/20
I want to FOMO into some more
#XRP
sooooooooooooooooooo bad right now. Will you please either (a) talk me down from doing so or (b) tell me **** yeah I should buy more XRP.
Thank you.
With the Wells Notice handed to Coinbase by the SEC, I can only really be angry at
@JohnEDeaton1
. He's been fighting the SEC for 2 years and never, not once, warned anybody that the SEC was gunning for a major crypto exchange.
John, IF ONLY YOU HAD WARNED US!!!!!
Thanks all for the support! Re: SEC employees trading XRP all through March 2019 (and maybe even after), this info was made public from a discovery battle one year ago. Go to the doc library at
@CryptoLawUS
and Ctrl+F "trading," you can read about it (DE's 314, 335, 354).
J. Torres order from
@FilanLaw
is great news and has changed my timeline estimates. Remember, litigation changes fast, so new facts = new evaluation. First, I love how J. Torres didn't rubber stamp the timeline proposed by the parties. I did not expect that at all. 1/5
#XRPCommunity
More good news: J. Netburn's published ruling(s) extensively discussing evidence of personal nature of Hinman's speech greatly increase the chance that a lawsuit against Hinman personally would AT LEAST survive a motion to dismiss. Now, I know a guy...
#XRPcommunity
It was delayed, but I’ve been ½ in celebration mode and ½ in getting lawsuit against SEC ready mode, but here is my analysis on Ripple’s MSJ. TLDR is to watch
@attorneyjeremy1
‘s video. I will attempt to only add new analysis here (apologies for duplication). 1/22
#SECvsRipple
The remedies-related discovery schedule is set. There is no chance a 2nd Cir. ruling on an appeal by either party (if one is ever filed) is issued before mid-2026. Think of everything that will happen between now and then.
Game Over, SEC. You lost.
#XRPCommunity
All inquiries regarding the Class Action against Clayton and Hinman should be directed to Fred
@FredRispoli
.com or 602-284-5520.
Prospective class members can use the above contact information. A preliminary sign-up form will be available shortly.
Very hot take: The SJ ruling is obviously written. Maybe completely finished, maybe some final touches left. Been saying any day now for a while, but it's REALLY any day now. Also, nothing amazingly unexpected in this ruling EXCEPT for Hinman emails decision. Although this...1/3
I think this was a great way to handle the situation
@UpholdInc
. I know some folks were frustrated you went down, but as you state, you were one of the few to stick with the US
#XRPCommunity
. I'll dabble with other exchanges, but I'm still buying most of my $XRP from you.
Uphold is back up!
Yes, we went down but no platform could cope with the 50x spike in volume we saw today.
Uphold feels proud and vindicated to have been THE ONLY platform to stick with XRP through thick and thin over the past few years.
We’d love to give props to our law firm…
#XRPCommunity
The big win was 7/13 of course but this is also pretty sweet. Options for
@SECGov
are dwindling at a rapid pace. This opinion, to me, oozed with contempt from J. Torres for the SEC for wasting her time and in a disrespectful way. I still maintain it all went...1/5
But this thread is all about hope. Many of you still have no idea how important and how powerful you truly are. All it takes is One. Which becomes Two. Then Four. Then, eventually, Victory. 12/20
@joerogan
@elonmusk
#XRPCommunity
My thoughts on the iShares XRP Trust story:
1. It is indeed on the Delaware Corp. Commission website. I search this all the time to look up the right entity to sue in my legal cases.
2. Could someone file a fake entity? I'm only familiar in filing these in CA and…
...sow market confusion. And it's very clear that, yes, hands-down, no more guessing, totally for realz,
#ETHGATE
actually happened. I can't see any way SEC wins its MSJ and I think you will find it extremely obvious why both judges in this case ordered those docs produced. 2/3
My thoughts on this unusual hearing setting. First, an in-person hearing allows certain privacy. In courtroom will be on the record, but J. Netburn can also take attys back to her office ("in chambers") for off the record discussions. Nothing...1/4
#XRPCommunity
#SECGov
v.
#Ripple
#XRP
BREAKING: Conference scheduled for Tuesday, June 07, 2022, at 3:00 p.m. to discuss the SEC's renewed assertion of the attorney-client privilege as to internal documents related to Hinman's June 14, 2018 speech.
57 page order from J. Torres on SEC and Ripple's motions re: expert testimony from
@FilanLaw
incoming!
This is not the SJ ruling, but this means the SJ ruling is very, very close.
If you suffered damages due to the negligent supervision by
@SECgov
of its X handle regarding its false announcement of the
#BTCETF
, it would be an honor to help you sue the SEC for the restitution you deserve.
Please DM or email contact
@hodllaw
.org for follow up.
#BTC
Nearly $90 million worth of $BTC long and short positions were liquidated after a series of fake tweets on bitcoin ETF approval led to price volatility. By
@shauryamalwa
.
#XRPCommunity
Lot of implications here and quite a few ways this litigation can still go. All bad for the SEC and only a few "somewhat" bad for
@Ripple
. Really needs a verbal breakdown but here's a summary of my thoughts. First, is the dismissal
@SECgov
acknowledging *just*...1/4
...the SEC truly is. Does it file motion for reconsideration? Interlocutory appeal? Writ of mandamus? SEC can easily drag the email saga out another 1-3 months if it wants to. But any negative appellate ruling for SEC will damage all gov agencies in the future, not just SEC. 5/5
And besides a handful of lone voices, no other crypto communities are coming to stand by as allies in support of a just cause. In truth, the
#XRPArmy
always knew this. 10/20
@LBRYcom
@jeremykauffman
It always was and likely always will be for the
#XRPArmy
to shoulder the burden alone, carrying on its back the communities who are too blind to see they are only in the second row of the firing squad. 11/20
@coinbase
@krakenfx
...this garbage case to begin with. In a poker analogy, the SEC is pot-committed with a 7, 2 hand.
Lastly, I would love to be proven gloriously wrong and a settlement is announced tomorrow. But this is what I'm thinking as of now. 10/10
Don't worry about reading it yet.
@FilanLaw
will be up in a few hours to post everything. The money shot is in the Ripple 56.1 in opposition to the SEC's MSJ. 3/3
@GaryGensler
Thanks, Gary! What do you mean by "proper protection" though? I could really use some clear guidance. I'm building and transacting a lot on the Ethereum Blockchain. Is that a security? Is ETH a security? LMK when you get a chance...I know it's only been 8 years so take your time!
Those within the ranks are intimately aware of the corruption within a government entity that USED TO BE founded on principles of justice, and protection of individual rights. We also know--only now--that so many insiders knew of the corruption; 2/20
@MarketsMickle
@jungleincxrp
@GaryGensler
@SECGov
That's great news, Chairman! Looks like the SEC has plenty of cash reserves on hand to pay restitution to
#XRPholders
for its misdeeds in that regard.
...was a massive threat to the financial interests of their former clients and previous employers. Though many have rightly called for an investigation into this conduct, no investigation is coming. No congressional subpoenas are on the horizon. 9/20
@jchatterleyCNN
@cryptomanran
SEC is now Ben Stiller's character from Tropic Thunder. I mean, it LITERALLY argued the same thing as it did in the motion for reconsideration but putting AC priv for DPP priv. SEC also is now making
#XRPCommunity
arguments! Am I taking crazy pills?!?
the graft; and the scheming that has created an all out assault on American and Global innovation in digital assets and blockchain technology. 3/20
@ThinkingCrypto1
@Santiag78758327
@attorneyjeremy1
Glad to read this from you
@attorneyjeremy1
! As I started, pretty quickly I was like, “Is this ANOTHER, new version of the genesis of the speech?!?” This thing has more origin stories than the Marvel Cinematic Universe.
This innovation improves and saves lives; frees people from debt slavery; and allows others to send real value to those in dire need, in poorer, less fortunate and unfairly neglected parts of the world. 4/20
@Leerzeit
@TAIGxrp
These two knew each and every XRPL Network User had a substantial interest in the growth and development of the XRPL Network. These two knew--while collecting taxpayer-funded, government salaries--that the XRPL Network...8/20
@Timcast
@IanCrossland
#XRP
#XRPCommunity
#SECvsRipple
has been quiet...too quiet? Completion of damages-related discovery is Feb. 12. I'm surprised we haven't seen any SEC discovery motions filed given how hostile this litigation has been. I would expect to see one filed at least a week or so...1/3
#SECvsRipple
#XRParmy
#XRPLCommunity
Here is my hot take on
@ripple
's opposition to remedies motion: TLDR is that anything greater than $10M total would be unfair and inappropriate. Ripple is in a great position to win this one but there are, unfortunately, ominous signs. 1/8
Hey Everybody, this is the Digital Asset Attorney. I've got my coffee with cinnamon and I'm telling
@Support
that
@x
made a mistake suspending
@digitalassetbuy
. Please review all the comments and other x's in support of him and reinstate the account. Thank you.
cc:
@elonmusk
Alas, like nearly everything in life, innovation that can save so many at such a large scale and at such reduced costs from the legacy system--well that threatens long-entrenched, powerful interests. 5/20
@CGasparino
@EleanorTerrett
Update time: We’ve received an enormous number of responses from prospective class members interested in signing up for the class. The supportive comments in the emails are extremely encouraging so, again, thank you. 1/15
“rejected Ripple’s made-up test”
*translation*
“We are extremely butt hurt at the moment. Falling back on name calling makes the pain easier to handle at the moment.”
#XRPCommunity
#SECvsRipple
$XRP
#XRPArmy
@SECGov
strategy will be revealed if it requests judgement under Rule 54(b), which allows it to immediately appeal the claims it lost. If Judge Torres denies a request for a Rule 54(b) judgment, SEC can seek interlocutory appeal...1/2
Hat tip to
@EleanorTerrett
for helping me realize something: Although it does make sense for SEC to not attack XRP in other lawsuits as the Ripple case is nearing an end, the more accurate reason might be that any lawsuit with XRP is an open invitation for
@JohnEDeaton1
and the…
This is weird to me. The parties already had detailed discussions on these redactions the first time around. Could be nothing more than what's written but it's just...odd. This gives me the feeling that something has changed and there is a scramble going on behind the scenes.
#XRPCommunity
#SECGov
v.
#Ripple
#XRP
Parties file Joint Letter for one week extension, until June 13, 2023, to file public, unredacted versions of cross-motions for summary judgment and accompanying exhibits, which includes the Hinman materials.
To elaborate on my own wild speculation, J. Torres' rulings may have prodded the parties into accepting their weaknesses and there is a last ditch effort at settlement. The only settlement that makes sense to me at this point is:
- Ripple pays large penalty, must register its…
This is weird to me. The parties already had detailed discussions on these redactions the first time around. Could be nothing more than what's written but it's just...odd. This gives me the feeling that something has changed and there is a scramble going on behind the scenes.
5/9/22 Update
to signup for lawsuit against ex-SEC officials Jay Clayton and William Hinman. Please complete the 1 minute form.
If you want to sue the SEC and hold XLM, ADA, DOT or ALGO, send DM or email info
@xrplawsuits
.com
Want your SGB? DM or email.
...use general language that could more easily be applied to the wider crypto universe, thus giving the SEC more of its coveted "flexibility" to pursue other projects.
Or I'm desperately trying to divine a deeper meaning where there is none.
6/6
@GOPMajorityWhip
Dear
@GOPMajorityWhip
@PatrickMcHenry
, I sincerely ask that you please place Mr. Gensler under oath at the start of his testimony. Not only can you not take
@GaryGensler
seriously if he has no fear of perjury, but I reluctantly cannot take you seriously if you do not. Thank you.
As you should have guessed, one of
@Ripple
's experts obviously would rebut Mr. Doody's opinions on the perceptions and behaviors of
#XRPHolders
. And she is amazing.
@Bitboy_Crypto
Weird what happens when you pull on strings...Dugan Bliss was Senior Trial Attorney at
@SECGov
working on the Ripple case and leaves in May 21, 2021 to go where? To BLOCKFI!!! Right when BlockFi was "settling" with the SEC. Bliss remained a Senior Director...1/2
We (rightly) rag on Mr. Hinman for what appears to be blatant self-dealing. But I believe in redemption for all, so here is my message to Bill: You can still get out of this, big guy! For pennies on the dollar, too! Have your lawyers call my lawyers (me) and we can work it out.
One more thing I wanted to say on
@Bitboy_Crypto
that I didn't get a chance to:
Thank you,
@JohnEDeaton1
, for being a big source of inspiration to me to get involved in the battle for a fair, level playing field in crypto.
Here are my thoughts on briefing schedule. TLDR If you haven't figured it out by now, the
#SECvsRipple
case is 100% meant to kneecap
@Ripple
to protect (1) old money (GS, JP, etc.) and (2) the chosen new money (Ethereum, Circle, etc.). 1/10
“As I’ve said in the past, and without prejudging any one crypto asset, the vast majority of crypto assets are investment contracts and thus subject to the federal securities laws.” -Gensler
He then cites 8 cases. His loss against
@Ripple
was not included.
Dismissal against
@bgarlinghouse
and
@chrislarsensf
is an
#EPICFAIL
by
@SECGov
. Easily one of the Top 5 Fails in its litigation history. Absolute tail-between-the-legs capitulation by Jorge Tenreiro. I wish he had an X account so we could all remind him of his enormous failure.
@nayeee_17
@nayeee_17
I sue these horrific facilities for a living. I would be more than happy to help you get justice for your granddad.
Thrilled, actually.
@FilanLaw
This was essentially a total loss for the SEC. It has officially lost credibility. For EVERY motion it files and EVERY hearing it attends from here on out, it will start 2-3 steps behind
@Ripple
and most "toss-up" issues will go against it.
"The hypocrisy in arguing to the court...suggests that the SEC is adopting its litigation positions to further its desired goal and not out of a faithful allegiance to the law."
Means SEC likely to lose big on Ripple's pending RFA discovery motion. Don't think that's out yet.
As I recently mentioned, I think the most likely outcome of the summary judgment briefing is that only one issue is granted by J. Torres--that XRP is not a security per se and that secondary sales are not securities transactions. This gives the
@SECGov
the primary beating...1/3
This community is so strong, but remember it is like that because of respect, unity and willingness to treat others in good-faith. Finishing this challenge requires we remain dedicated to these principles. 15/15
#XRPArmy
Lastly, as
@attorneyjeremy1
noted, I think SJ reply deadline does mean J. Torres plans on wrapping up SJ before 2023 starts, which has shaved 3-4 months off my timeline. This is an outcome I'm glad to have been wrong on! Woo hoo! 5/5
@FilanLaw
This will take hours to really dive into but skimming through SEC’s brief, unsurprisingly it is relying heavily on marketing efforts. While this IS the weakest point for Ripple, I just don’t think it is close to being weak enough to give SEC the win. Especially with FND in play.
You lost ONE round
@LBRYcom
. Feel pity tonight and get back in the saddle tomorrow. File your notice of appeal on the last day and then you get to play SEC—drag that **** out!
@FilanLaw
Ha! SEC needs more time for a response it already wrote in Ex. 2 of
@JohnEDeaton1
's letter motion? Of course it does. Now we know why
@attorneyjeremy1
said in his last video it was better to get on this early. John's amici brief will DEMOLISH
@SECGov
until it looks like Doody.
<sigh> Hoped J. Torres' ruling would be out this week now that pleadings were filed. It's past 4pm on the East Coast and federal court staff usually start packing up and leaving for the weekend around this time. C'mon next week!
#XRPCommunity
#XRPArmy
#Hinmanstillsucks
What an FU to the SEC by a multi-billion dollar org's CEO and CLO. This never would have happened even 5 years ago (i.e., the top executives of a company of such magnitude openly taunting the SEC).
On this episode of NBC’s “Brad and Stu,” the boys decide to battle the SEC in a 3-year, $200 million Federal Court case to determine the future of digital assets in the most powerful country in the world.
Hijinx ensue!
Airs Thursday 9 EST/8 Central.
#XRPCommunity
Hmmm...the signed order from J. Torres just came in granting the stipulation of dismissal. In reading the original stipulation, I failed to notice the parties only agreed to dismiss
@bgarlinghouse
@chrislarsensf
from the Institutional Sales claim only. 1/4
@freddyriz
@LBRYcom
The LBC judge said the specific issue wasn’t litigated and he believes in exercising judicial restraint.
Was the specific issue litigated in the Ripple case?
Or is there an opening for Judge Torres to give the same judgement?
Thanks
@FilanLaw
! Another excellent brief by Mr. Solomon (and the associates working for him!). Absolute take-down that exposes the completely contradictory positions taken thus far by SEC. In fact, there are layered contradictions on top of contradictions. 1/11
@FilanLaw
There's a lot to unpack here but for now, I have to give the SEC credit: This organization has no shame and is more than content to use lack of shame as a weapon. This is essentially a motion to reconsider the reconsideration motion that was already double-argued. More to come.
Fun fact I thought of re: the emails. They probably make Bill Hinman's deposition look like he's even more of a <ahem> non-credible witness. I would have a blast having him on the stand, watching his own video deposition and having his emails on a split screen. Priceless!
@FilanLaw
@JohnEDeaton1
This is a win for sure. Although J. Torres denied Amici’s request for Daubert participation, the same purpose will be achieved by SJ participation. And although she implicitly denied access to Doody report, SEC already lost that issue re: Daubert motion redactions.