DISMISS CRYPTO CASES
The day after @realDonaldTrump launches a Presidential Meme Coin, and after attending the Inaugural Crypto Ball, where America’s newly appointed Crypto Czar, @DavidSacks, declared the war on Crypto over, promising America will usher in a Golden Age of Innovation, I can’t help but reflect on the last 4 years.
Having filed amicus briefs in the @Ripple, @LBRYcom and @coinbase cases, representing users, developers, individual investors, and content providers, I’m sitting here thinking about the incredible waste of time, energy, money and resources wasted during the last 4 years.
@LBRYcom is dead. Killed by bad faith regulators who followed through on their threat to bankrupt the small American company out of New Hampshire. NO FRAUD was committed or even alleged. There was a very active LBRY community and ecosystem of users and content providers utilizing the platform. LBRY employees lost jobs. An American entrepreneur, @jeremykauffman, lost millions due to legal fees. Those millions are gone and will not be used for things like jobs, marketing, advertising, health insurance, or research and development. LBRY is dead - murdered by a politically motivated corrupt bureaucrat.
@Ripple has spent over $150M in legal fees. That’s ONE-HUNDRED FIFTY MILLION. Again, a NON-FRAUD case. 2 American entrepreneurs, @bgarlinghouse & @chrislarsensf were individually sued in an attempt, by those same bad faith regulators, to bully and intimidate them. The 2 entrepreneurs, not intimidated, got their cases dismissed because the cases lacked any merit. After incurring more than $15B in losses, 75K users and investors joined the case. Retirement accounts holding XRP were frozen. Delistings hurt investors and American exchanges. Some American businesses didn’t work with Ripple out of fear of alienating the SEC. During the case, those same bad faith regulators used tactics threatening Ripple’s overseas partners. The SEC recently filed an appellate brief and legal fees continue to climb.
In 2021, the SEC accelerated Coinbase’s IPO. Before granting acceleration, the SEC must make a determination doing so is in the public’s best interest. The SEC made that determination and granted the IPO to quickly move forward. Only 2 years after finding it was in the public’s best interest to grant acceleration, those same bad faith regulators sued Coinbase claiming Coinbase’s entire business model was illegal. The trial judge granted the SEC’s motion and allowed Coinbase to ask the 2nd Circuit to grant an interlocutory appeal. The legal fees Coinbase has spent is also in the tens of millions, if not already surpassing $100M.
After agreeing to pay a $30M fine and unstake assets staked by U.S. investors, @krakenfx believed it was buying peace by attempting to cooperate with the bad faith regulators. Of course, after giving the perception it was buying peace, those bad faith regulators sued Kraken anyway. Kraken could’ve used that $30M to offset the tens of millions in legal fees it continues to incur.
There are other examples I could give but it would far exceed what X allows in a single post.
Another case I’ll highlight is @dragonchain. Dragonchain has a court date later this month. Another NON-FRAUD case. Considering it originated out of @Disney, you don’t get more American than @dragonchain. After the lawsuit was filed by the SEC, the company’s ability to conduct business operations became more than hindered. Another American entrepreneur, @j0j0r0, has spent almost all his funds on legal fees fighting back. The trial may start very soon and if it does, I may be flying to Seattle to try the case.
If a new Golden Age of innovation is indeed upon us, coupled with the incoming President of the United States utilizing the technology in a manner some might argue pushes legal boundaries more aggressively than any of the companies above have, all non-fraud cases including, @Ripple,
@coinbase, @krakenfx, @dragonchain etc. need to be dismissed.
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Happy Holidays, Enjineers! 🎄
Blobby has a festive treat just for you! 🎅✨
Join our Christmas Giveaway featuring the exclusive Santa Blob and Reindeer Blob, infused with a combined 5,000 ENJ value!
The giveaway starts on December 26 13:00UTC and runs through January 6 13:00UTC
How to Participate:
It’s simple! Just visit the landing page below and complete the action steps for your chance to win these rare Blob NFTs:
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The more actions you complete, the better your chances of winning. Good luck, Enjineer!
In 2020, Head of Assets at Sygnum 🏦 recommended people invest in the digital assets of the future: 1) #BTC as a store of value; 2) #ETH for infrastructure; and #XRP for payments.
I agreed then. I agree now. All 3 will be standing in 5 years. How many other tokens can say that?
BOOOOOOOOOOOOOOOM!!!
@Ripple Recognized as One of America's Fastest-Growing Private Companies! 🌊
Ripplenet Is The City And #XRP The Infrastructure.🚆
https://t.co/AW0vfacywV
BREAKING NEWS:
RUSSIA IS PROPOSING ITS OWN INTERNATIONAL STANDARD FOR PRECIOUS METALS AFTER GETTING BANNED BY THE LONDON BULLION MARKET ASSOCIATION
Here it comes...
#SEC now calls #WilliamHinman ,not Former SEC official,Not Former Corporate Finance Director,but now "Citizen Hinman". I myself personally like the sound of "Inmate Hinman" #0589 fits him best! #Ripple#SEC#XRP#RETWEET#ETHGATE#FREEPASS
John Deaton is marching into Court!
The SEC wants an "expert" witness to give testimony about what XRP holders were thinking when they bought XRP.
Deaton represents 67k ACTUAL XRP HOLDERS and wants to present what they were ACTUALLY thinking.
SO of course, the SEC opposes it.
We are going to 10-20x from these prices
I bet my entire life, 5-6yrs worth of research & entire net worth on this moment
I warned you about the nasty correction…
Now I’m warning you that life changing wealth is about to come
You all deserve what’s about to happen
@HODLnomix Hats off to you @HODLnomix it takes grande cajones to do what you have done. I sincerely appreciate honesty and it speaks to character- good character. Barikiwa my friend
“Safe Investments”are things that have already made Billionaires & Multimillionaires
They call it “Safe” so Mom & Pop get distracted into them while the Billionaires are off to the next “Risky Investment” that will 100x for them
No such thing as safe… ONLY Predators Vs Prey