Ripple/XRP-Brad Garlinghouse/XRP Escrow,Crypto Analyst/Fox Business-SECvRipple Settlement Tomorrow?
welcome back to the show everybody check this headline out legal our crypto analysts just talked to Fox Business News that says they're expecting a settlement between the SEC and ripple tomorrow we got that Sam bankman freed FTX it keeps getting bigger ladies and gentlemen we got that and so much more somebody wrote that beautiful intro [Music] digital perspectives with Brad kimes come on in welcome back to the show everybody you can follow us on Tick Tock YouTube and Twitter and Facebook for exclusive content right now 884 billion dollar market cap for crypto 1.6 up on the morning good morning everybody Bitcoin 16 900 plus we see they're off but more than 18 1200 Plus for ethereum 19 off on the seven day for all of these and we see 35 cents for xrp right now off by 24.8 percent unbelievable ladies and gentlemen I mean what a morning we are seeing so many losses but you know what let's get started here because you need to see this I talk about it all the time it's linked to ladies and gentlemen we're going to hear some news today we don't know if it's a hundred percent but look uphold I just told you about uphold it sold out poly sign waiting for that to come back on the board because that goes like you wouldn't believe everything on here goes what am I talking about look Ripple is going to have a public exit according to Brad garlinghouse if you're an accredited investor and you haven't pulled the trigger on getting some of Ripple shares you can do it at link2.com and let me tell you I don't know if it's accurate but we have a crypto analyst that is good it has told Fox Business today this morning moments ago that they are expecting a settlement in the SEC versus Ripple so we'll get to that in just a second but check out the link for link2.com underneath of the video don't mess around if you're accredited here we go I love my sponsor go link to bitcoin right now again 169 1273 and we see xrp at 35 the market is bleeding heavily ladies and gentlemen this is CZ binance his quick comment on what has happened here with SPF and FTX and the shape of this crypto space take a listen and that actually destroys consumer trust when the trust is when they don't trust them they come they don't go to them they actually go to go to the platform their trust no one can protect a bad player to be very Frank um well if a guy is very good at lying and it's very good at him not just pretending to be what not well he's not somebody wants to write a letter law the law is not going to prevent that the law can help to reduce that as industry players we should be more vocal about it which is uh which is that very strong standards for the industry and and I absolutely agree with every single bit of that now take a quick listen we're not going to play this whole clip here but I do want you to hear the first run of this this is a really shamath palapatia here macro or uh certainly Guru investor here uh but listen to what he says when he talked to actually SPF in the FTX team take a listen in that 17 billion dollar round and I did a zoom with him and after the zoom I'm like this doesn't make much sense but I'll have my team do some work we did some work and we sent him a two-page deck and we said here are our recommendations for taking the next step cover your kids ears if they're in a row one was the formation of a board the second was the creation of dual class doc the third was some reps and warranties around Affiliated transactions and related party transactions and the person that worked there called us back and literally I'm I'm not I'm not kidding you said go [ __ ] yourself the developing story of I mean that's just unbelievable right I mean this is a seasoned investor here but you know what the conversation continued through the weekend because Brad garlinghouse dipped into a Twitter space that was happening here and shared some very very candid thoughts and information that you could find on Ripple's website because he began uh by really just coming in and uh you know to talk about you know the FTX situation Sam backman freed and you know how you know obviously that's not right it's not good for the space y'all this but then he gets questioned and bombarded with a bunch of questions about xrp how they handle the escrow and I want you to hear this back and forth here it's very very important take a listen you know and this whole [ __ ] show started with the SEC you know people I tweeted out in December of 2020 that this was an attack on the whole industry and not just an attack on Ripple and I think you know candidly a lot of people call [ __ ] like that's not true and I think it's been really refreshing to see the industry kind of come around to understand that like this how important this is and so I I could give a thanks to all those out there that have been uh supportive and kind of seen that come around hey Brad how do you how do you mock xrp on Ripple labs's balance sheet is it zero you Market zero that's pretty remarkable statement right there it's zero is that what you is that what you think is how it should be done with all these and let me tell you that's a pretty remarkable statement from Brad garlinghouse Daymark xrp is zero on their balance sheet how do you how do you mock xrp on record labs's balance sheet is it okay zero it's zero Market at zero now the first thing that hit me and I had a handful of friends contact me after they heard this Twitter space too and their question was the same as my question which is uh how do you value your xrp in zero unless maybe there's a possibility it isn't yours laughs is that what you is that what you think is how it should be done with all these companies I don't know I mean like again facts and circumstances and you know I don't I don't want to opine on how other people should do it you know Ripple has no debt uh for all intense persons we've never had any debt we've got a billion dollars of cash uh you know so Unity xrp on on the on in Treasury and now you can hear it Dawning also on the person asking I believe it's Simon Dixon like who owns the treasure the xrp and the treasury that he's it's washing over him the way it was me and everyone else I think hearing that comment there which entity owns the xrp well yeah Ripple Labs the parent company I'm all the things I just said with regard to Ripple Labs the parent so uh yeah you know where it sits in a particularly subsidiary or something like that for structural reasons I is kind of irrelevant for that purpose but but does it does it get factored into your Equity value when raising Finance the the number of xrp on the balance sheet well we haven't raised I mean that's not a question for me to answer right because I'm not the investor you know it's somebody coming in to invest in Ripple would make a determination on all the assets that Ripple has we have a you know rapidly growing business we own a bunch of cash we've invested over 500 million dollars in over 60 companies across the crypto space some xrp related so I'm having nothing to do with xrp uh so you know I'll let others opine on that you know we haven't raised money in a long time the last private money we raised was at a 10 billion valuation uh in 2019 I think I think that's right yeah full disclosure I'm actually one of your shareholders you may not know but um the the um from a long time ago um yeah but the the said the xrp on the company balance sheet across the whole group has marked at zero it doesn't factor in it's still getting him and I understand it it gets me too it makes for a lot of other interesting questions first of all I mean you know I'm not doubting uh Brad grawling house Brad garlinghouse is a beast man I got mad respect for him um but it does beg the question about whether they re I mean I know they use the escrow when it's released they do operation expenses these things fund new partners I get all of that but it's it is quite a puzzling thought to think of it at zero value for ripple so how do you how do you account that asset well because you do you do sell a lot of those xrp right you've got you know they sold them to the market we sell some only to customers and you're paying close attention we repurchased the vast majority of what we sell dab there we go keep listening uh and you know when we sell it then it's marked at the price it's sold that's that's revenue from an accounting point of view so Market zero but when they sell it at let's say 35 cents or what have you there's your Revenue generation right but look you know I think for me as I just step back and look at what's going on in the industry Ripple has always taken a very very very transparent view I mean I don't know when we started doing a quarterly xrp markets report I don't know five six years ago and you know I think whether it's FTX whether it's you know a whole bunch of other examples I think all of us could work on transparency and you know some of the haters and some of the fun that get spread around it's you know that don't live in Glass Houses right you know some of the stuff I see said in contrast where you know I think even talking about this openly about how much xrp we have sold to customers how much is repurchased we put it all out there like it's all transparent and you know that's not because we have a regulator telling us to do that it's because we think it's the right way to run a business what percentage of the revenue is xlp cells you know it's a significant percentage you know I don't know we've ever publicly broken that out uh you know again the point I would make just because the nature of the question is we've repurchased the vast majority of xrp so this is not a very long-term bullish on xrp this is not a hey let's sell as much xrp as fast as we can it's almost you know the opposite but well and and to that point then you really have to start asking yourself why are they buying all this back they see it as so much value buying it back off of the secondary Market where we get it still and redirecting it to on-demand liquidity Partners I get it because they understand the value of it and I believe it someday they understand the value of it will move so quickly because of the adoption and use you're better off to get as much of it today as you can because of what it may cost tomorrow is the way I see that right now not Financial advice but that's my understanding of the approach here but why would Ripple go out and buy all of this back each month that this is happening and buying it back because they understand the long term of xrp do they really believe that it will be listed on all the exchanges again after this is over I hope so listen I hope so but that strategy would really be a moot point to me if they end up relisting on 200 exchanges or whatever the amount was 180 whatever it was exchanges I mean great for us and everybody involved but what does that do to the strategy that Ripple is employing right now to get as much of it back off of the market that we buy it on repurchasing what's what's the purpose of that because isn't that like would that cause some Market manipulation issues no well I mean I guess I don't know the the conversation has gone from hey How do we make the industry more healthy too you know could that be Market manipulation Sorry Brad I don't know what the [ __ ] is on you but I'm literally calling it being totally transparent about exactly what we're doing everything I just said it we've been public about it it's in our xrp markets report the point of questions yeah but they're not asking the tough questions and Brad even says that he's like it's not even a tough question these most of these questions have been answered already in reports the fact is that these are Bitcoin ethereum Max he's trying to comment Brad to find a hole somewhere keep listening yeah we've asked just to give you first hats off for coming on stage and yeah just asking the tough questions but uh yeah I appreciate you answering them no I don't if you guys have questions my point is you can go read that right like I'm not you don't need me to even like I didn't read our excerpt markers before getting up here so I can't cite the exact data but you know I frankly it was Sunday morning and I just started I was paying attention to Twitter it's like oh I'll listen in so anyway look I I think uh what has gone on in transparency helps everybody transparency is our friend and it that is true it has been at the core of blockchain Technologies and I think there's just a lot of companies that have acted you know kind of not consistent with that uh and I think I've got one one more question quickly before you sorry one more day would you give to the companies that have large token um value on their balance sheet how do you think they should manage selling those tokens without causing issues when they're trading against their consumers or manipulating prices how do we stop that transparency look I mean there's a kind of well well retweeted clip of me on stage uh with Joe Lubin uh at the world economic Forum a few years ago and you know frankly Joe's going after me about some of the same questions you're asking me and I said wait a minute Joe how much how much eth does consensus own he wouldn't answer how much eth has has consensus sold he wouldn't answer so look transparency is is our friend and I think I I would challenge the whole industry just to be more transparent whether you are consensus and you're you own a lot of Ethan I think to this day we don't know how much uh or you're a project like library that just has one you're you're you are the token uh I think transparency is our friend and I couldn't agree more and you know what Rand nooner Satoshi stack Simon Dixon and everybody else involved in there has not once called Joseph Lubin or consensus to the carpet at all about the transparency question that Brad garlinghouse asked of him and I covered that clip heavily here and you know it's uh it's quite disturbing that these guys will go after Brad to the degree that they did in this particular call which is fine which is fine but you know what they never seem to turn and ask those tough questions to the Joseph lubens of the world though do they pretty damn interesting well so is this Stuart El doradi says if the SEC was actually crypto's lawful cop on the beat there would be no need for the chair to repeatedly could Joel Market participants to come in and register Regulators with proper jurisdiction don't need to control bully or enter into backroom deals that's why regulation by enforcement has been the sec's go-to the tortured enforcement process itself is the punishment which is why most settle with settlement in hand the SEC then pretends it has lawful jurisdiction when it really has a coerced surrender what an incredible remarkable analysis this is which has led to disastrous consequences for example in February the SEC trumpeted its 100 million block by settlement and a commitment by block five to register with the SEC but block 5 couldn't afford to pay the fine and nothing was ever registered instead block 5 was allowed by who to be rescued by SBF who if reports are true got access to block buys assets including customer deposits and once again the bankruptcy lawyers are getting rich while consumers are left holding the back uh Stuart I tell you yeah you know keep it coming brother keep it coming we're loving it now obviously Janet yellen's chiming in now too on the FTX collapse here the U.S treasury secretary
said crypto sector is in need a very careful regulation while some lawmakers are already preparing to propose tougher rules watch out for fsoc that's the fed the treasury right that's Gary genzer in the SEC all on the financial stability oversight Council it is a Prudential regulator they could come out and do some things here if Congress doesn't act keep your eyes peeled ladies and gentlemen this is what you've been waiting for and we're not going to wait anymore for it right here this has been going around this morning Natalie Brunell was on Fox Business with Maria bartaloma and she says She is expecting a sec versus Ripple settlement tomorrow and we know swell starts tomorrow over in the UK shout out to Ripple tea Brad garlinghouse and the whole crew yeah and somebody else shared it here shout out to conspiracy theorists here and everybody else who sent it but take a listen to this clip just a tail end here the first half was about SPF you guys are up on that take a listen to this being said here Rory have the potential to create wider losses in more assets and more traditional assets I know you're expecting a settlement tomorrow uh in the lawsuit between the Securities and Exchange Commission and ripple the SEC is filing from 2020 allege that Ripple labs and two of its Executives raised over 1.3 billion dollars through an unregistered digital Securities offering this is is a separate case but your thoughts on whether any of this has the potential to take down other markets like the stock market absolutely Maria well it goes to your first point when contagion happens it's because everything is cross-collateralized and the system at large based on credit is so fragile so we do see Bitcoin drawing down and we can see other assets drawing down as people liquidate in order to cover um what with their cover their margins and their shorts and so I think what's important to know about the SEC and ripple and it'll be interesting to see what the verdict will be is that the SEC charged Ripple with violating Securities Law and argues that it passes the Howie test it says that it's a common Enterprise and investment contract and a common Enterprise and the big thing I want people to remember no matter what happens tomorrow is right now you can go to Twitter or Google and you can find ripples CEO and ripple is the largest holder of its own token sound familiar so if there's a CEO if there's a company if there's a pre-mine a foundation an Ico it's not Bitcoin and be careful trusting your life savings to a CEO wow well what I find interesting about that is is that she doesn't give a favorable outcome come per se here but still calling for a settlement now she doesn't say why she believes that settlement will happen what I say to you if we see a settlement I would encourage everybody to know I think eathgate and the uncovering and the collapse of FTX and everything that is being dug up now currently that suggests there are incredibly deep ties of corruption involved here that's the appearance we have so far ladies and gentlemen I don't want to go as far as to say it's fact yet but everything is looking like a massive massive ball of coercion and Corruption and it's just despicable but you know what I think all of this and social media and the Twitter sluice and everybody else out here who's contributed if this thing settles I tell you I can't I can't see any other way than to understand that every one of us have played a strong role in a hand and helping get it there there's no question now that's not Financial advice but it's my digital perspectives make sure you check out all the links underneath the video ladies and gentlemen they're great products and services and in this time of uncertainty make sure not your keys not your crypto get a ledger it's the link underneath of me and they have incredible deals always but only if you click the links I'll catch all of you on the next one
2022-11-15 19:00
