@coinbureau Until the crypto industry leaders are willing to shove more money into Elizabeth Warren's pockets than the banks are, the clarity act won't pass!
Excuse me Rep. Jim Himes but @ripple has been doing this and showing this for the last ten years while the SEC that you are supposed to be overseeing went after them while leaving China/JP Morgan backed Ethereum alone. Ethereum's killer app was Bill Hinman BTW. Stop protecting the incumbents and China and start practicing what you preach Rep Himes.
Three years ago yesterday, Jay Clayton met with @GaryGensler. The next day - TODAY - Clayton filed the @SECGov 🆚 @Ripple case alleging ALL #XRP tokens to constitute illegal securities. Clayton filed the most significant non-fraud SEC enforcement action in modern history (since 1946) and then walked out the SEC’s 🚪 forever. If you don’t think the #XRP case was the topic of discussion the night before, between Clayton and Gensler, you’re incredibly naive.
@s_alderoty Very few companies (and executives) have the fortitude to refuse to give the bully their lunch money.
This is particularly true when the bully is the most powerful entity in the world--the U.S. government.
Congratulations to you Stuart and to Chris & Brad.
Sweet vindication.
@s_alderoty XRP was never a security. The SEC knew that but still sued Ripple because they thought they could bully them into eventually settling or losing. The SEC never expected to fight the XRP community as well 😂
Before the SEC sued Ripple, Chris and Brad (3 yrs ago today) they offered us the following settlement: the SEC would announce to the market that XRP is a security and the market would be given a short window to “come into compliance.” We said no because: (1) XRP is not a security; and (2) the SEC never built a framework for crypto compliance. No matter the spin that Clayton, Hinman, Gensler or anyone else puts on this case now, it was always about one thing - - proving that XRP is not, in and of itself, a security. We put everything on the line. Few thought we would win. But we did. In the process we exposed the SEC for the hypocritical tyrant it is and the industry in the U.S. lived to fight another day. Onward to 2024.
So let me get this straight. Government lawyers lie to the Court to gain an unfair advantage in litigation and the SEC’s answer is to say that going forward those lawyers will now be taught to be honest when saying things to Judges. Gensler’s SEC has become a travesty.
She sits on the banking committee in the Senate but refused to help over 300 individual Massachusetts investors who reached out and asked her for help. She refused to even write a letter to the @SECGov on behalf of those investors. Instead of signing the letter to the SEC, @ewarren instead, sent @GaryGensler a copy of the questions she intended to ask him during an SEC oversight hearing, and provided him with the suggested answers. This was a direct violation of the oath she took as a U.S. Senator and it per se disqualifies her from the office she holds.
@GaryGensler is a despicable and dishonorable regulator. He knew that @krakenfx believed it was buying peace for the $30M. I know some people are critical of it’s choice to settle and pay the $30M. I wanted them to fight as well. But when you decide to fight, $30M takes you only so far, like maybe only 1/3 of the way - if you’re lucky. Ask @Ripple and @bgarlinghouse, who spent $150M plus so far, and is STILL paying millions in legal fees. I wasn’t in the room with the Kraken leadership when the decision was made to settle but I GUARANTEE you things like the permanent layoffs of good loyal employees were discussed. When the belief is $30M buys you peace and keeps good people employed, I understand why a company makes it. Unfortunately, Gensler doesn’t give a shit about those same employees or investors. He’s a disgrace and I can’t wait to see him go down.
How interesting. Charles Hoskinson (@IOHK_Charles) is crying the blues because Bitcoin got a pass while $ADA didn't.
Remember when Charles was constantly clowning the #XRPCommunity because we were frustrated that $ETH got a free pass, but $XRP didn't?
Oh, how the tables have turned.
That's EXACTLY what was intended by the people behind the Ethereum Free Pass. They wanted a monopoly on token issuance....a money printing machine. That's why Bill Hinman and Jay Clayton should be investigated.🇨🇳🇨🇳🇨🇳 @PatrickMcHenry@WarrenDavidson@GOPMajorityWhip