Great to be back at the White House today alongside @realDonaldTrump, @SECPaulSAtkins, @ChairmanSelig and leaders across the crypto industry.
The big picture has never been clearer: 67 million Americans hold crypto today (that’s nearly 1 in 4!). Crypto isn't a fringe industry. And Washington DC knows the crypto voter is alive and well.
This President's incredible commitment to innovation and leadership around digital assets in the US has been profound. The future is bright.
Oh no. Sorry Mariah but there was no excitement, no passion, or no energy for your Christmas football video. 🤦♂️ #christmasnfl#nflchristmas#mariahcarey
A final judgment. The Court rejects the SEC’s suggestion that Ripple acted recklessly and she reminds the SEC that this case did not involve any allegations of fraud or intentional wrongdoing, and no one suffered any financial harm. She rejects the SEC’s absurd demand for $2B in fines and penalties. We respect the $125M fine the Court has imposed for certain historic sales to sophisticated third parties.
The SEC asked for $2B, and the Court reduced their demand by ~94% recognizing that they had overplayed their hand. We respect the Court’s decision and have clarity to continue growing our company.
This is a victory for Ripple, the industry and the rule of law. The SEC’s headwinds against the whole of the XRP community are gone.
ELIZABETH WARREN VIOLATED HER OATH
As a Senator, sitting on the Banking Committee, @ewarren violated her oath. Her job is to provide and engage in actual oversight of the @SECGov.
Instead, she conspired with her close friend @GaryGensler, not only giving him the exact questions she would ask before a hearing, but also the suggested answers to those same questions.
That isn’t oversight - it’s fraudulent, coached testimony before Congress. She literally said that she didn’t want to place Gensler in a tough spot. Are you f’ing kidding me?
HER JOB is to place the Chairman of the SEC in a tough spot - asking hard hitting or “tough” questions.
Think about this:
Elizabeth Warren is 💯 the single biggest critic of #Bitcoin and Crypto in the U.S. Congress. She sits on the Banking Committee overseeing the SEC. And yet, she hasn’t asked the SEC or Gensler about SBF’s multiple meetings with Gensler and the SEC. She hasn’t questioned why or how Gensler MISSED SBF’s Fraud, considering his up and close meetings with SBF.
And why was Gensler meeting with SBF multiple times?
Gensler wasn’t meeting with @brian_armstrong@iampaulgrewal and the @coinbase team - despite Coinbase begging for meetings and being the largest exchange in America and also a U.S. publicly traded company!
No. Instead, Gensler was meeting with the CEO of an OFF SHORE exchange in the Bahamas who turned out to be the Bernie Madoff of Crypto. In her job overseeing the SEC, why hasn’t Warren asked for those meeting notes like @PatrickMcHenry and the @FinancialCmte have?
Warren preaches against Crypto every chance she can, but doesn’t ask why Gensler missed @FTX_Official@CelsiusNetwork Luna/UST, etc.? Why not? She found time to help kill a couple banks that worked with Crypto companies. Why not focus on the source of the problem: actual fraud?
Is she not asking certain questions because of her own ties to SBF’s parents? SBF’s father - Joe Bankman wrote Warren’s tax plan in 2016. We know without a doubt that he helped SBF create all those shell companies to avoid taxes. SBF’s Mother runs a PAC to help Democrats, like Warren, take get elected.
I have over 600 #XRP holders who live in Massachusetts and who are her constituents. We begged Warren’s office to inquire about the SEC and do her job. Not only would she not give us the time of day, her staff said “The Senator is never going to help considering the SEC sued a couple billionaires” aka @chrislarsensf & @bgarlinghouse.
What kind of position is that? Regular hard working people, including hundreds of her constituents, be damned, as long as a couple billionaires get screwed as well?