WEBVTT

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<v Speaker 1>XRP is ready for a mega bull run as the

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<v Speaker 1>SEC versus Ripple lawsuit concludes with the SEC only getting

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<v Speaker 1>one hundred and twenty five million dollars. This is big

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<v Speaker 1>and reports are coming in that Wells Fargo is going

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<v Speaker 1>to follow in Morgan Stanley's footsteps and offer bigcoin etfsody clients.

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<v Speaker 1>We're gonna break this down and much more. Let's get

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<v Speaker 1>into it. Welcome into the Thinking Crypto podcast. I'm your host,

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<v Speaker 1>Tony Edward. On your way in. Please hit that subsprib

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<v Speaker 1>button as well as a thumbs up button and leave

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<v Speaker 1>a comment below. If you're listening on a podcast platform

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<v Speaker 1>such as Spotify or Apple, please leave a five star

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<v Speaker 1>rating and review. Folks. The breaking news and that is

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<v Speaker 1>Judge Torres has issued her ruling on the SEC's motion

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<v Speaker 1>for remedies. So let me give you some details here.

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<v Speaker 1>Jeremy Hogan, Attorney Jeremy Hogan said, the SEC versus Ripple

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<v Speaker 1>case has been quite a journey. Thanks for sharing it

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<v Speaker 1>with me. One hundred and twenty five million dollars penalty

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<v Speaker 1>and a generic injunction. This is a big win for Ripple,

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<v Speaker 1>no doubt about it. Have a wonderful day. We get

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<v Speaker 1>Ripple CEO Brad garling House weighing in, he said, the

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<v Speaker 1>SEC asked for two billion dollars and the court reduced

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<v Speaker 1>their demand by approximately ninety four percent, recognizing that they

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<v Speaker 1>had overplayed their hand. We respect the court's decision and

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<v Speaker 1>have clarity to continue growing our company. This is a

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<v Speaker 1>victory for Ripple, the industry, and the rule of law.

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<v Speaker 1>The SEC's headwinds against the whole of the XRP community

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<v Speaker 1>are gone. So well stated here by Brad, the SEC

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<v Speaker 1>and Gary Ginster continue to look like fools and Scumback

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<v Speaker 1>Regulator Gary Ginser continues to lose. I know some people

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<v Speaker 1>are going to say, but dude, they have to pay

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<v Speaker 1>one hundred and twenty five million dollars. It's what I've

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<v Speaker 1>been saying for you literally years. Ripple would have to

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<v Speaker 1>pay a small fine, but XRP would be ruled intrinsically

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<v Speaker 1>not a security. So Gary loss on XRP being intrinsically

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<v Speaker 1>a security. He wanted two billion dollars, you only got

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<v Speaker 1>one hundred and twenty five million, which is peanuts to Ripple, right,

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<v Speaker 1>and then he's losing in the court of public opinion,

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<v Speaker 1>and then he's losing the narrative with all these court

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<v Speaker 1>losses to gray scale and much more, he is losing

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<v Speaker 1>left and right, and he's getting exposed. In addition, you

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<v Speaker 1>have Donald Trump, by presidential candidate, calling him out. The

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<v Speaker 1>Democrats are turning on Elizabeth Warren and Gary. Right, the

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<v Speaker 1>seventy one Democrats voted with Republicans that passed the FIT

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<v Speaker 1>twenty one bill out of the House. They voted to

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<v Speaker 1>repeal the sec saw one two one in the House

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<v Speaker 1>and Senate. So clearly, Gary Ginser is on the losing

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<v Speaker 1>side of history, as I've been saying for so many years,

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<v Speaker 1>and all these things are coming to fruition guys, because

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<v Speaker 1>as we've been saying, Gary Genser was weaponized by the

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<v Speaker 1>trad fying comments to kill startups and kill these crypto

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<v Speaker 1>companies so that the trad fying comments can come in

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<v Speaker 1>and take over. That's the whole thing here. Gary's a

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<v Speaker 1>Goldman Sachs guy. You don't think phone calls were made

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<v Speaker 1>when XRPCE price went up. And this crypto company is

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<v Speaker 1>doing this in coinbas is, going public and all that

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<v Speaker 1>to try to sue these guys, slow them down, put

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<v Speaker 1>up roadblocks so that black rocks, so that JP Morgan

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<v Speaker 1>and all these guys can catch up if you don't

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<v Speaker 1>believe that that you don't understand how the world actually works. Now,

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<v Speaker 1>Ripple Stewart Al the Roddy weighed in as well. He's

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<v Speaker 1>the chief legal officer, he says a final judgment, the

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<v Speaker 1>court rejects the sec suggestion that Ripple acted recklessly, and

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<v Speaker 1>she reminds the SEC that this case did not involve

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<v Speaker 1>any allegations of fraud or intentional wrongdoing and no one

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<v Speaker 1>suffered any financial harm. She rejects the SEC's absurd demand

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<v Speaker 1>for two billion dollars in fines and penalties. We respect

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<v Speaker 1>the one hundred and twenty five million dollar fine the

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<v Speaker 1>court has imposed for certain historic sales to sophisticated third parties. Here,

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<v Speaker 1>James Murphy aka Metal law Man, weighed in, saying Judge

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<v Speaker 1>Torres has issued her ruling on remedies in the Ripple

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<v Speaker 1>case zero dollars in disgorgement as expected because no loss

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<v Speaker 1>is shown by the SEC. One hundred and twenty five

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<v Speaker 1>five million dollars in civil penalty for securities violations and

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<v Speaker 1>sales to institutions injunction restraining Ripple from further violations of

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<v Speaker 1>Section five of the Securities Act. This is a small

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<v Speaker 1>fraction of the damages the SEC was seeking in the case.

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<v Speaker 1>He says, my guess is both sides will appeal, so

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<v Speaker 1>they do have sixty days to appeal. However, I don't

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<v Speaker 1>know if the SEC will appeal because Gary Ginzer, he's

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<v Speaker 1>almost out of the door here given all the political pressure,

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<v Speaker 1>and in addition, does he want another loss here rather

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<v Speaker 1>than taking this small win and say, you know what,

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<v Speaker 1>we got one hundred and twenty five dollars And you know,

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<v Speaker 1>he's gonna do his parade, He's gonna go do his

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<v Speaker 1>media tour. Yeah, you know, we went after Ripple. We

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<v Speaker 1>got one hundred and twenty five million dollars. He's gonna

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<v Speaker 1>frame it as a win. But it's clearly not a

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<v Speaker 1>win for them. And I'm gonna have Attorney Fredispoli on

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<v Speaker 1>the podcast tomorrow to try to get his take on

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<v Speaker 1>what may happen next. Look, it's not completely off the

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<v Speaker 1>table that the SEC could appeal, but I don't think

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<v Speaker 1>it's likely. And if they do, will they actually win

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<v Speaker 1>anything to win the appeal? Right, how long do you

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<v Speaker 1>want to keep doing this? So we'll see what happens,

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<v Speaker 1>and I'll try to get some legal experts to weigh in.

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<v Speaker 1>James Seifert a Bloomberg he's an analyst I've had on

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<v Speaker 1>the podcast quite often. He said, I'm sure the SEC

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<v Speaker 1>will refer to this as a win for getting one

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<v Speaker 1>hundred and twenty five million dollar penalty, but that's really

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<v Speaker 1>a win for Ripple as far as I'm concerned, and

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<v Speaker 1>an l for the SEC's regulation via enforcement stands so

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<v Speaker 1>well put, I think a lot of people in the

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<v Speaker 1>industry are recognizing this. So let's talk about what does

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<v Speaker 1>this mean for the price guys. Well, I tweeted out

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<v Speaker 1>a bunch of stuff today, and essentially this removes any

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<v Speaker 1>dark cloud of uncertainty and litigation, which I was concerned

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<v Speaker 1>about for XRP, because investors will be very hesitant, especially

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<v Speaker 1>big money institutional investors, right because if they know something

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<v Speaker 1>is tied up with litigation with the SEC, they're going

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<v Speaker 1>to be like, look, risk averse, we don't want to

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<v Speaker 1>touch anything. Not that they hate XRP, but just anything

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<v Speaker 1>that's in a lawsuit, why would you want to invest

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<v Speaker 1>in it? Right? Well, those dark clouds are gone, my friends,

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<v Speaker 1>and I believe XRP has the clear, clear pathway and

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<v Speaker 1>runway here to take off and go to new all

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<v Speaker 1>time highs possibly four to eight dollars as three to

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<v Speaker 1>sixty trader who's a great analyst, he is talking about here,

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<v Speaker 1>and I'm going to have him on the podcast pretty

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<v Speaker 1>soon to talk about this and his technical analysis on

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<v Speaker 1>the four to eight dollars price targets for this cycle. Now,

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<v Speaker 1>no one can call an exact price target. We don't

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<v Speaker 1>have a crystal ball, but based on chart analysis, based

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<v Speaker 1>on factors like having the clarity in the market and

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<v Speaker 1>liquidity and much more. And XRP still guys in the

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<v Speaker 1>top ten. Even with a lawsuit all these years being

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<v Speaker 1>delisted from exchanges, it stayed in the top ten. Those

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<v Speaker 1>are facts. I don't care if you hate XRP. You

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<v Speaker 1>have to respect the facts. And that is there's interest

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<v Speaker 1>in this asset. And even a credible crypto who I've

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<v Speaker 1>had on the podcast highlighted this. He was actually replying

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<v Speaker 1>to some people who are spreading fut about XRP. It

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<v Speaker 1>doesn't matter what your emotions are or how you feel.

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<v Speaker 1>What do you love or hate it? He says, XRP

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<v Speaker 1>remains a top ten crypto by market cap. It doesn't

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<v Speaker 1>matter what you or I think about its usefulness. The

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<v Speaker 1>market as a collective is telling you that they value

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<v Speaker 1>it more than ninety nine percent of this space. And

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<v Speaker 1>that's a fact. It will have its time in the

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<v Speaker 1>spotlight again, whether you like it or not. And that's

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<v Speaker 1>how you got to approach investing folks. Not your feelings,

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<v Speaker 1>not your emotions. Oh I don't like this company, Well

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<v Speaker 1>that's your right to feel that way, but it doesn't

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<v Speaker 1>mean the market has to respect it or go buy

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<v Speaker 1>your feelings. The market goes by different factors and keyword

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<v Speaker 1>on fact So this is really great. Credible Crypto also

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<v Speaker 1>said the stage is now set for an inevitable, in

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<v Speaker 1>my opinion, mega run for XRPS. So I agree with him.

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<v Speaker 1>I think XRP is going to do well with this case.

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<v Speaker 1>Now remove and you know, concluded, regardless of if appeals

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<v Speaker 1>a file or not, the narrative that XRPS is security

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<v Speaker 1>and that this oh Gary Ginser may come back with

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<v Speaker 1>a punch, you may do all that nonsense of like

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<v Speaker 1>bitcoin maxis and so forth. It's done. They've lost the narrative,

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<v Speaker 1>and I think we're going to see liquidity start coming

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<v Speaker 1>back into the market via bitcoin. Right, we always talk

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<v Speaker 1>about the money comes in via Bitcoin, then it trickles

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<v Speaker 1>down to etherrem and then the all coins. So XRP

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<v Speaker 1>on the charts right now is moving a bit, But

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<v Speaker 1>I don't care about this. It's at sixty three cents

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<v Speaker 1>what I'm looking for as three sixty traders said four

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<v Speaker 1>to eight dollars. So I'm more bullish on the fact

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<v Speaker 1>that it has the clear runway to do a massive

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<v Speaker 1>move for this cycle. And you know, if you layer

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<v Speaker 1>the Fibonacci model here based on last cycle's price, and

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<v Speaker 1>we know last cycle got cut short because of the lawsuit. Look,

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<v Speaker 1>it could put us in that four to five dollars

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<v Speaker 1>range and possibly higher, right, because it has finally the

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<v Speaker 1>clear runway. And this also opens up the possibility that

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<v Speaker 1>we may see in XRP spot ETF because the once

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<v Speaker 1>this case is concluded, could the SEC be vindictive and

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<v Speaker 1>try to block it? Sure, but we see that there's

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<v Speaker 1>possibly gonna be a regime change coming up. Right, Gary

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<v Speaker 1>Ganser maybe kicked out even if Kamala Harris wins. We

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<v Speaker 1>know he's definitely gone if Donald Trump wins. Right, But

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<v Speaker 1>the SEC has lost the narrative, Folks, We've seen capitulation

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<v Speaker 1>over the past few weeks and we saw the Binance

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<v Speaker 1>stable coin case got dropped, the Stacks case got dropped,

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<v Speaker 1>they dropped the investigation against Etherorem, they approved the Etherorem's BODYTFS.

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<v Speaker 1>So we're seeing some capitulation here and this is a

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<v Speaker 1>great day for not only XRP, but all all coins, folks.

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<v Speaker 1>In addition, I forgot to highlight this, there was some

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<v Speaker 1>reports and it's not one hundred percent confirmed that the

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<v Speaker 1>SEC was removing certain all coins from the Binance US case,

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<v Speaker 1>like Solana, Cardano and so forth. So, guys, I'm so bullish,

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<v Speaker 1>so bullish. I know the prices right now don't reflect that.

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<v Speaker 1>But remember market cycles, folks. Market cycles understand that pullbacks,

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<v Speaker 1>corrections happen and you will have a rollercoaster ride up.

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<v Speaker 1>So this is why you dollar cost average in. But

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<v Speaker 1>you also dollar coross average out as you get into profit, folks.

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<v Speaker 1>So don't forget to have a plan, my friends. Exciting

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<v Speaker 1>times ahead, and look a great place that you can

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<v Speaker 1>buy XRP and all all coins and bitcoin is Uphold.

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<v Speaker 1>It's a platform I've been using since twenty eighteen. They

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<v Speaker 1>have two hundred and sixty plus cryptocurrencies. They also have

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<v Speaker 1>precious metals like goalsiver, palladium, and platinum. They're available in

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<v Speaker 1>over one hundred and fifty countries. They are also fully reserved.

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<v Speaker 1>They have transparency reports that you can review, and they

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<v Speaker 1>don't commingle or lend out your funds and all that nonsense.

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<v Speaker 1>So if you'd like to learn more about Uphold, check

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<v Speaker 1>out the link in the description. Now, folks, we also

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<v Speaker 1>got news that Wells Fargo is reportedly planning to offer

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<v Speaker 1>bitcoin et apps, following Morgan stand and Morgan Stanley today

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<v Speaker 1>started allowing their fifteen thousand wealth advisors to pitch the

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<v Speaker 1>bigcoin ETFs to their clients. And those ETFs, of course,

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<v Speaker 1>are the Black Rock ETFs and the Fidelity ETFs. So guys,

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<v Speaker 1>this is not one hundred percent confirmed, but of course

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<v Speaker 1>it's not far fetched. This is not outlandish game theory.

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<v Speaker 1>First domino falls, no one going to get left behind.

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<v Speaker 1>They all jump in. So it's just a matter of

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<v Speaker 1>time before all of Wall Street is offering bigcoin ETFs, right,

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<v Speaker 1>It's not a matter of if, it's a matter of when.

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<v Speaker 1>And then I think we're going to see the dominoes

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<v Speaker 1>continue to fall as we head into Q four and

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<v Speaker 1>inflows started rising again and the price of bitcoin will

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<v Speaker 1>reflect that. Right now fifty five k right, just over

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<v Speaker 1>fifty five k. Not much to call home about. But

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<v Speaker 1>market cyclist, folks, we're going to see the liquidity come

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<v Speaker 1>back in. Yes, could there be some more volatility in

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<v Speaker 1>the coming weeks before we find some sort of bottom,

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<v Speaker 1>of course, But have the macro outlook. Have the macro

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<v Speaker 1>view so that you can reap the game as this

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<v Speaker 1>bull market continues. And yes, we are in a bull market.

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<v Speaker 1>Go look at the charts and you'll see the story

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<v Speaker 1>that's being told here. This is not a bear market.

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<v Speaker 1>The bear market was twenty twenty two when we were

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<v Speaker 1>in a clear down trend. Right right now we are

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<v Speaker 1>in a clear uptrend, folks. So once again, have a

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<v Speaker 1>plan so when the price does start moving, you're not

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<v Speaker 1>caught flat footed and you know what your strategy is

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<v Speaker 1>and what you're going to do. Now, here's some very

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<v Speaker 1>big news around a new crypto fund or funds that

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<v Speaker 1>is being started. So Meltem Demrez, who used to be

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<v Speaker 1>at coin Shares. I've had it on the podcast over

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<v Speaker 1>the years. She's launching two venture funds totaling seventy five

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<v Speaker 1>million dollars, so of course this is going to be

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<v Speaker 1>put towards crypto. So it's a pretty incredible all these

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<v Speaker 1>funds that are being started to invest in crypto, and

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<v Speaker 1>I think because everyone sees the potential. So this is

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<v Speaker 1>being reported by Forbes. So this is pretty big and

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<v Speaker 1>it's going to be called crucible Capital. Now, guys, we've

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<v Speaker 1>got some interesting news around crypto and politics. So Fairshak,

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<v Speaker 1>the super pac, the crypto superPAC, they just announced that

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<v Speaker 1>they will be spending twenty five million dollars on tv

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<v Speaker 1>AD campaigns to support eighteen House candidates from both parties.

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<v Speaker 1>And these are pro crypto candidates. So it's what we've

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<v Speaker 1>been talking about. You go anti crypto and you will

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<v Speaker 1>be demolished and destroyed in the elections. You're not going

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<v Speaker 1>to win. If you are aligned with Elizabeth Warren and

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<v Speaker 1>the anti crypto army, it's over for you. And the

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<v Speaker 1>crypto industry has raised over two hundred million dollars. So guys,

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<v Speaker 1>let me share what the spokesperson, Josh Vlasto of Fairshak

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<v Speaker 1>had to say. We are seeing a broad bipartisan consensus

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<v Speaker 1>behind crypto and blockchain as a critical component of the

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<v Speaker 1>future economy. More than fifty two million Americans own crypto,

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<v Speaker 1>with the sector responsible for tens of thousands of jobs

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<v Speaker 1>across the country. We will continue to deploy our resources

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<v Speaker 1>in support of leaders on both sides of the Isle

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<v Speaker 1>and in both Houses who are committed to getting things

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<v Speaker 1>done and working with the industry to pass responsible regulation

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<v Speaker 1>that drives innovation, creates jobs, and sustains America's global leadership.

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<v Speaker 1>And here's a great example of this, guys. A crypto skeptic.

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<v Speaker 1>Her name is Cory Bush, and she's a Saint Louis

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<v Speaker 1>congresswoman has lost her Democratic primary race to Wesley Bell,

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<v Speaker 1>who's also a Democrat. But guess what Corey was anti crypto.

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<v Speaker 1>She pretty much voted against the FIT twenty one bill,

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<v Speaker 1>which seventy one of her colleagues voted for with the Republicans.

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<v Speaker 1>She voted against the repeal of the TSAB one two

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<v Speaker 1>one rule from the SEC. She voted against CBDC, anti

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<v Speaker 1>surveillance state hack. You go against crypto and you will lose. Guys,

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<v Speaker 1>this is what The fifth example I've shown you just

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<v Speaker 1>the other day was the guy out of New York

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<v Speaker 1>right who was an Elizabeth Warren Crony and then in

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<v Speaker 1>the we saw it in the primary zone on Super Tuesday, right.

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<v Speaker 1>I don't remember all the names, but I reported in

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<v Speaker 1>all these things. Here's a clear example because the crypto

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<v Speaker 1>industry is hire getting knocked around and bullied by these

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<v Speaker 1>bureaucrats and all these clowns, and they're fighting back. They're

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<v Speaker 1>punching back, and these people who go against crypto once again,

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<v Speaker 1>they're going to lose. Now. In yesterday's podcast, I told

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<v Speaker 1>you guys about the Democratic group that is forming a

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<v Speaker 1>kind of a coalition called Harris for Crypto. They're trying

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<v Speaker 1>to get a Kamala Harris to put out some clear

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<v Speaker 1>statements about what her policy in crypto is. We are,

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<v Speaker 1>of course, still waiting to hear from her on that,

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<v Speaker 1>and maybe now that she has a vice president running mate,

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<v Speaker 1>that she will hear something. But as I've been saying,

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<v Speaker 1>show me, don't tell me. I don't want to hear talk.

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<v Speaker 1>I want to see what you're going to do here, though,

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<v Speaker 1>we got some reports from Axios that the Harris team

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<v Speaker 1>is considering Wally Adeemo, a cryptocritic, as Treasury Secretary. Now

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<v Speaker 1>this hasn't been confirmed, and I'm giving him the benefit

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<v Speaker 1>of the doubt that they will pick somebody who is

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<v Speaker 1>not anti crypto because this guy, I've heard from people

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<v Speaker 1>in DC, he's a Elizabeth Warren crony pretty much. And

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<v Speaker 1>one of the things I learned last time I was

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<v Speaker 1>down in DC and for the summit there, a Crypto summit,

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<v Speaker 1>was that Elizabeth Warren's cronies are in different places pretty much.

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<v Speaker 1>She has staffers and then she sends them out to

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<v Speaker 1>different parts of the government, and they of course all

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<v Speaker 1>report back to her. That's pretty much what's going on.

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<v Speaker 1>And because she has this pretty high office, you know,

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<v Speaker 1>overseeing financial markets and so forth, she she's got a

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<v Speaker 1>lot of power. So this is what I've been saying

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<v Speaker 1>for a long time, that it's not so much Biden.

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<v Speaker 1>I don't think Biden never said anything about crypto. It

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<v Speaker 1>was Elizabeth Warren pulling the strings and Biden was listening

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<v Speaker 1>to her. So we'll see what Kamala Harris decides to do. Now.

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<v Speaker 1>The good thing is the crypto industry and advocacy groups

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<v Speaker 1>are going out and trying to get people to understand

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<v Speaker 1>crypto better. They're doing education and much more. Cody Carbone

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<v Speaker 1>of the Digital Chamber highlighted what the Digital Chamber did recently.

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<v Speaker 1>They said today we are proud to join the Crypto

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<v Speaker 1>Market Integrity Coalitions letter to the President of the United

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<v Speaker 1>States and the Vice President, urging the ADMIN to move

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<v Speaker 1>forward with a comprehensive digital asset regulatory framework to protect consumers,

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<v Speaker 1>promote the US dollar, and support American competitiveness. So this

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<v Speaker 1>is great, This is what you need to do. And

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<v Speaker 1>I love that these groups exist and they're teaming up,

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<v Speaker 1>the Chamber teaming up with the Crypto Market Integrity Coalition

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<v Speaker 1>here to send this letter. And we got to keep working, folks.

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<v Speaker 1>We've got to keep calling our representatives, keep using social

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<v Speaker 1>media to your advantage, keep highlighting the lies and failures

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<v Speaker 1>of Gary Ginser and Elizabeth Warren as well, and look,

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<v Speaker 1>support people who are pro crypto. Now, obviously, I know

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<v Speaker 1>elections are much more than crypto, and for some of you,

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<v Speaker 1>crypto is a single issue that your main number one issue,

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<v Speaker 1>but for other people's different things. But I think you

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<v Speaker 1>got to keep this in mind because it's not just

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<v Speaker 1>about investments, but it's also jobs, Like why are you

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<v Speaker 1>trying to stifle this innovation? And I think we know

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<v Speaker 1>the answer, right The incumbents are getting disrupted that's pretty

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<v Speaker 1>much what's happening. Because this is just a technology. It

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<v Speaker 1>shouldn't be a political issue. The person who made it

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<v Speaker 1>a political issue is Elizabeth Warren, so we definitely got

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<v Speaker 1>to vote John Deaton and get Warren out of there. Folks,

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<v Speaker 1>all right, everybody, that's the news. Pretty great news around

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<v Speaker 1>Ripple and XRP of course, and guys, in my book,

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<v Speaker 1>Rethinking Crypto, I documented I put a whole chapter together

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<v Speaker 1>about the SEC versus Ripple and the overreach and the

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<v Speaker 1>hurt they cause on XRP holders, but also the fight

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<v Speaker 1>the XRP holders came back with with John Deaton and

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<v Speaker 1>using social media and much more. So. Grab a copy

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<v Speaker 1>to support the podcast. Grab a couple copies for your

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<v Speaker 1>friends and family who want to learn about this technology.

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<v Speaker 1>It's available in digital as well as paperback. If you

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<v Speaker 1>bought a copy already, please leave a rating and review.

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<v Speaker 1>It will really help my rankings. And also don't forget

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<v Speaker 1>to sign up for my free email newsletter where I

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<v Speaker 1>provide news, crypto insights, knowledge and much more. Guys, so

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<v Speaker 1>thank you for watching and listening. I appreciate you all.

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<v Speaker 1>Hit that thumbs up, leave a comment, and much more,

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<v Speaker 1>and I'll talk to you all later. Ask dost dest

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<v Speaker 1>discountant