Jeffrey T Holm

[Jeffrey T Holm @Jefftayh]

@skillz17q Things look shaky, I agree, but I thank God everyday Kamala didn’t become our president. Imagine where we’d be right now had she gotten in! Better the devil you know, as the saying goes.

[Jeffrey T Holm @Jefftayh]

@ElofsonJess I believe the answer to frustrations in the government over actions or non actions boils down to blackmail. Our government officials are blackmailed, plain and simple. If you want the truth, look to those who spoke it and got murdered. Jesus is a great place to start….

[Jeffrey T Holm @Jefftayh]

…Derived from the Efforts of Others: This is where it gets nuanced. In Ripple’s institutional sales, profits were tied to Ripple’s specific efforts (e.g., building partnerships, improving XRP Ledger). In a spot ETF:
- The ETF’s value tracks XRP’s market price, driven by supply/demand, adoption, and broader crypto market trends—not Ripple’s direct efforts.
- The ETF issuer (e.g., BlackRock) manages custody, compliance, and operations, but their “efforts” are administrative, not entrepreneurial like Ripple’s. Courts have historically distinguished this: ETF management isn’t the same as a company promising to build a business to drive asset value.

Key Difference: A spot XRP ETF’s profits depend on XRP’s market performance, not a contractual promise from Ripple or the ETF issuer to deliver profits through their efforts. This mirrors spot Bitcoin ETFs, where the SEC approved them (January 2024) without classifying BTC as a security, because BTC’s price is market-driven, not tied to a single entity’s efforts. XRP’s decentralized use (e.g., cross-border payments) and the Ripple ruling’s programmatic sales precedent align it closer to BTC than to a company stock.

### 3. Why an ETF Isn’t Like Ripple’s Institutional Sales
- No Direct Contract with Ripple: In institutional sales, Ripple directly sold XRP to buyers with terms implying profit from Ripple’s work. An ETF involves no such contract with Ripple; investors buy shares from the ETF issuer, which holds XRP bought on open markets (programmatic-style, not institutional).
- Market-Driven Value: ETF shareholders expect profits from XRP’s price appreciation, driven by market forces (like BTC or ETH), not Ripple’s specific actions. The Ripple ruling explicitly said programmatic buyers lack the “expectation of profits from Ripple’s efforts” required for Howey.
- ETF as a Security, Not XRP: The ETF shares are securities under the Investment Company Act of 1940, as they represent ownership in a fund. But this doesn’t make the underlying asset (XRP) a security, just as gold in a GLD ETF remains a commodity. The SEC regulates ETFs for investor protections (custody, disclosures), not because the asset itself is a security.

### 4. Could the SEC Argue It’s a Security?
The SEC could try to argue that an XRP ETF creates an investment contract by tying profits to Ripple’s ongoing efforts (e.g., RippleNet adoption). However:
- The Ripple ruling’s precedent that programmatic XRP sales aren’t securities would make this a tough case, as ETFs buy XRP on open markets.
- Approving BTC and ETH spot ETFs (2024) sets a precedent: if those non-securities can be ETF assets, XRP likely can too, given its similar market-driven nature.
- Any SEC attempt to reclassify XRP via an ETF would likely face legal pushback, as it could be seen as circumventing the court’s ruling. Ripple’s $125M fine (August 2024) and the SEC’s partial appeal don’t change the programmatic sales finding.

### 5. Why Companies File for XRP ETFs
Despite the security question, firms file for XRP ETFs because:
- The Ripple ruling reduces legal risk for retail-focused products.
- XRP’s $30B market cap and liquidity make it ETF-viable.
- Investor demand is high post-ruling, and ETFs offer regulated access.
- Global XRP ETPs (e.g., in Europe) show it’s feasible without reclassifying XRP.

### Conclusion
A spot XRP ETF is not an investment contract in the way Ripple’s institutional sales were, because it lacks the direct tie to Ripple’s efforts and mirrors market-driven assets like Bitcoin. The ETF’s shares are securities, but XRP itself remains a non-security in programmatic contexts, per the Ripple ruling. The SEC could scrutinize, but precedent leans against reclassification. For updates, check SEC filings or crypto news like CoinDesk. If you’re digging deeper, let me know what angle you want to explore!

[Jeffrey T Holm @Jefftayh]

In politics, you’re never going to find a perfect politician or business man. Trump is far from perfect, and he’s done things and said things I would never say or do myself. In politics, you have to be dirty and political and it’s just the nature of the beast. But in 2024, I had a choice to make and it was either Trump or Kamala. With our blooming national debt, a poor economy wrecked from Covid and a very open border, Trump in my view was the best choice to tackle these problems. So far, he’s delivering on border security and helping our economy through Tarriffs. Tariffs are a tax, but a tax designed to bring manufacturing back home for the bigger good, which is a good economy to tackle our debt. It’s called leverage. In a perfect world, all countries would have zero tariffs toward each other. But we don’t live in a perfect world, do we?

[Jeffrey T Holm @Jefftayh]

@ElofsonJess The trick is getting enough votes to outvote the radical democrats AND the radical democrats posing as republicans.

[Jeffrey T Holm @Jefftayh]

@TRUMP_ARMY_ If Tariffs worked in the past, they certainly can work in the future as well 😉

[Jeffrey T Holm @Jefftayh]

@GuntherEagleman It’s called blackmail folks. Plenty of it in the Epstein world…

[Jeffrey T Holm @Jefftayh]

@elonmusk Thank God America escaped from being overly taxed. Can you imagine it, paying a three percent tax on tea?

[Jeffrey T Holm @Jefftayh]

@DigitalG15 How can you get cash for XRP if the two cannot run alongside each other.

[Jeffrey T Holm @Jefftayh]

I look at the bill as taking on a failing company. You need to consolidate the companies debt by getting a loan on the debt with way lower interest and then work very hard to bring in more money, pay off the debts you can, and as you do that frees up more capital to pay off more debt. If Trump can get to a balanced budget, that will be huge. Getting a loan sucks and I’m with Elon here and he’s rightly frustrated with it all. Trump is banking on a raging economy and more revenue coming in through tariffs, tax cuts, (which will stimulate economic growth). Neither side is wrong, and each has a valid point. With Trump being a business man, I trust his intuition here. Elon is awesome, and God will reward him for his goodness and intent. Time will reveal all. Creating another party in my view can be a potential answer, but it comes with great risks as well. Look no further than the tea party formed by Ron Paul. All Trump can do is try, which he is really good at doing!

[Jeffrey T Holm @Jefftayh]

@iluminatibot lol so true!

[Jeffrey T Holm @Jefftayh]

@VALELORDX One UNIFIED LEDGER!

[Jeffrey T Holm @Jefftayh]

@elonmusk Easier to get a loan than to earn the money. But sometimes you gotta get a loan to consolidate your debt. I say don’t get the loan. FIGURE IT OUT.

[Jeffrey T Holm @Jefftayh]

@KingKong9888 The customer will always pay for everything, including all taxes a tariffs. It can’t work any other way…

[Jeffrey T Holm @Jefftayh]

@realdogeusa I don’t want the checks. I want the freedom.

[Jeffrey T Holm @Jefftayh]

@iluminatibot Many of the prophecies found in Revelation have already passed. This particular verse is possibly making reference to the fall of the Roman Empire.

[Jeffrey T Holm @Jefftayh]

Yes. There was 5500 years before Christ was born. 500 years after that the millennial reign started. Thats the beginning of the seventh period of time, or, as Revelation 8 calls the seventh seal. We currently reside in satans little season. The Battle of Gog and Magog is the next event humanity faces. That is WWIII.

[Jeffrey T Holm @Jefftayh]

@redpillb0t @iluminatibot The complete silence of approximately 1500 years of the Tartarian Empire. Not a peep in any history lesson or documentary. Why?

[Jeffrey T Holm @Jefftayh]

@TheCryptoSquire I’d buy peace and happiness. Then I’d build a nice solid conservative home.