XRP News - SEC regrets labeling Crypto Asset Securities - Grayscale XRP Trust - Robinhood XRP 👊😎

[Music] [Applause] [Music] what's going on everybody it's the one and only James rule xrp for a weekly update yes it has already been a week it's Saturday it's beautiful it is a beautiful hot day here in Southeast Texas I'm drinking a an ice cold cherry Dr Pepper Dr Pepper is big in the South if you haven't tried cherry Dr Pepper check it out I'm not sponsored I'm not affiliated if you get a chance follow me on X which is formerly Twitter at R xor we're going to look at a few things today we're going to look at some new news that has transpired over the last couple days man we're going to look at what the SEC has done what grayscale is doing we're going to look at some comments from individuals in the community and with these companies that have been affected so let's go ahead and take a look at the numbers today coin paprika. you can go in and tag your favorites total market cap today is 2.55 trillion we're up a little bit for the week if I go and zoom in you get you can see that Bitcoin is up 10.97% for the week it is currently at $6,200 ethereum is up 6% for the week at $2,416 and check this out xrp is up 13.37% to almost 60 cents do your research we're going to look at some xrp news today and we're going to get into it and we're going to have a good time now here's some late breaking news it looks like Elon Musk is bringing X or has brought X to Texas right here Doge designer stated that breaking ex's San Francisco headquarters closes today Texas will be the new home of X everything's bigger than Texas baby all right this news just hit a couple days ago gray skill we are proud to announce the creation of a new single asset crypto investment fund the gry skill xrp trust which will be available through private placement available to eligible accredited investors it means you have to have a million dollars in your account you have to make up to 250 or 350 a year um you know accredited investors grce scale had this fund prior to December of 2020 whenever the SEC sued Ripple sued the xrp community and we're going to look at the SEC here in a minute but yeah congratulations Grace scale you finally woke up yes everyone delisted except you know uphold uh xrp back whenever the lawsuit took place here is grayscale decom we're going to briefly look at their crypto products if we scroll down here we can see that their biggest one is the Bitcoin cash trust which is currently $120 million it makes up8 . 78% oops I was wrong the ethereum trust makes up uh 11.75% and if we go down here to the bottom you can see the grayscale xrp trust which is brand new currently $262,000 uh it's $134 a unit and it makes up 8% of the company if we click on it and the share per share as of September 13th is $1.34 it says the grayscale xrp trust is one of the first Securities solely invested in and deriving value from the price of xrp that enables investors to gain exposure to xrp in the form of a security while avoiding the challenges of buying storing and safekeeping xrp directly shares based on xrp per share as indicated below are designed to track the xrp market Price Less fees and expenses xrp is a digital asset that is created and transmitted through a operations of the peer-to-peer xrp Ledger Network a decentralized network of computers that operates on cryptographic protocols The xrp Ledger Network which they're saying the Ripple Network allows people to exchange tokens of value called xrp which are recorded on a public transaction Ledger known as a blockchain this is the overview it's got all the prices it's showing the performance here since September the 5th it was $10. 31 and as of September 13th it's $11.34 let's see what happens all right vet got this out there and he's always getting xrp news out there before anybody else at vetor XO it looks like Robin Hood has just listed xrp Robin Hood app please make the following change and as you can see right here they're calling it Ripple xrp well xrp is The xrp Ledger instead of Ripple xrp Ripple is the company not the network xrp is the native token of The xrp Ledger Ripple uses this token in their software and it needs to be xrp xrp or xrp Ledger xrp not Ripple xrp P thank you very much vet for clarifying that for everybody now here's some of the crazy news that just came out on September the 12th and I wanted to share this with you because everybody else and their mom and cat and dog and everybody has already shared it on YouTube but I'm going to share it again Paul greywall is the chief legal officer at coinbase coinbase is a cryptocurrency exchange and right here he got the news out on this footnote from the SEC stating that quote the SEC reg regrets any confusion it may have invited by falsely and repeatedly stating that tokens themselves are securities this is the remarkable representation in footnote 6 of the secc's amended complaint against bance I hope Stuart Alder who's a general counsel of Ripple we're going to look at here in a second is getting some sleep tonight his head is about to explode when he wakes up and sees this so so the SEC is now stating that crypto asset Securities which they made the stupid ass term here several years ago is currently not a valid term you know how many companies how many individuals how many billions of dollars has the SEC pocketed because this regulation by enforcement tactics that they have done for the past several years it's hypocritical it's criminal you know let's keep going going take a breath James and I'll say it again somehow eth transactions have changed a meaningful way that the 10 crypto assets have not so as to avoid the agency's clutches how that's apparently for the SEC to know and for the rest of us to find out only if and when we are sued last point of the night and this is a biggie thec absolutely maintained that tokens themselves are securities is clear from the long record of their regulation by enforcement campaign why mislead the court Jake chervinsky said sorry what right here Paul greywall I mean the SEC literally claimed xrp itself a security and paragraph one of their complaint against ripple at all it's Shameless this was in December of 2020 and they State here on line one from at least 2013 to the present defendants sold over 14.6 billion units of a digital asset security called xrp a digital asset security labeled by the SEC called xrp and now the SEC is going oops we up we we're sorry oh you know we made a mistake you know the underlying token itself is not a security we messed up so get get over it is basically what they're saying now so after this transpired yesterday I said uh so how many bull runs have we missed and I'm talking about xrp and I'm talking about some others because of the sec's please fire Gary gansler it is uncalled for they come back the fact to cover their ass there's an election coming up they're trying to be the good guys now and I think it's hypocrisy I think Gary ginzler should be fired before the elections all right here we go Stu aler he always knocks it out of the park _ aler on X he follows me I'll follow him check it out he made a new logo for the SEC which is a twisted pretzel and we're going to read his comment here and he responded to Paul Grey Wall's announcement of the representation of what the SEC stated so the SEC finally admits that one a crypto asset security is a madeup term and two to prove a crypto asset security is an investment contract the SEC needs evidence of a bundle of contracts expectations and understandings think it's time for the SEC to admit it has become a twisted pretzel of contradictions don't worry I updated your logo for you and here it is they're Twisted pretzel of contradictions thank you very much Ste out here is an article that was released eight hours ago and this has to do with John Deon and how John Deon has represented the xrp community from day one and I tell you what there's so many things to be thankful for for John dayon I have spoken to him on the phone I have you know been in contact with him I have provided some uh affidavits to him pertaining to xrp the use of xrp and how I used xrp during this lawsuit and right here this article states that the SEC crypto overreach cost small investors 15 billion dollar John Deon according to a popular Pro crypto attorney and Senate candidate John Deon the sec's overreach into the crypto industry has costed retail investors over 15 billion dollars in losses according to a prominent Pro crypto attorney and Senate candidate the Securities and Exchange commission's excessive intervention intervention into the cryptocurrency industry has resulted in retailer retail investors losing over $15 billion the US Securities regulator has often been criticized for enforcement heavy regulatory regimen or regime over the cryptocurrency industry regulation by enforcement no we make the rules you pay the price the SEC should be held accountable for its actions as its gross overreach cost investors 15 billion according to John Deon lawyer and Republic us sent Senate candidate I'm going to call him Senator John Dayton I'm getting it out to the universe the pro xrp lawyer wrote on a September 13th expost quote from John Deon sen Senator John Deon the sec's misconduct and gross overreach caused small investors over $15 billion on behalf of those 75,000 small investors he represented including me you and everybody else in the xrp community and everybody around the world that held and still holds xrp we do not accept the sec's apology here is a post from yesterday on X from John E Deon on January the 1st 2021 right after Ripple or right after the sued Ripple John Deon filed a RIT of Mand damus against the SEC stating that the SEC had violated 75 years of legal president by claiming the token itself was a security he he pointed out that orange groves condos chinchillas digital assets and even beavers had been packaged marketed or sold as an investment contract but that the underlying asset itself had never been considered the security Senator Warren he filed a motion to intervene on behalf of tens of thousands of individual token holders not Crypt billionaires regular people's life savings were at stake and this is abs absolutely correct 627 of those token holders lived in Massachusetts because Senator Warren sits on the Banking Committee which oversees the SEC and because he represented 627 of her constituents he reached out to Warren's office she did nothing Deon added that he intends to hold the SEC accountable for its regulatory action since Senator Elizabeth Warren won't do it Deon statement comes two weeks after the pro xrp lawyer won the nomination for the US Senate and Massachusetts primary election and is set to face off against Democratic Senator Elizabeth Warren in November go John Dayton and if we go further through this article we'll look at what I was talking about before about the SEC backtracking on their U security Securities definitions for digital assets and look at this this is one final thing I want to show you the SEC crypto enforcement is up over 3,000% since 2023 it says the US SEC has a record-breaking year for crypto enforcement even before the eoro settlement as of September the 10th the SEC imposed nearly get this 4.7 billion dollar of enforcement actions against crypto firms and Executives in 2024 for over a 3,000% jump from 2023 it says the sec's record setting year was mostly boosted by its massive 4.4 billion settlement with terraform labs and its former CEO dquan in June its largest enforcement action to date according to a September 9th report from Social Capital markets the regulator's 11 enforcement actions in 2024 netted a 3,8% increase from its 150 million worth of fines in 2023 despite taking 19 fewer actions against crypto firms and now Gary gendler and the goons that the SEC want to backtrack and say that they made a mistake that digital asset Securities is not a definition now what are we owed for the past four years what are all these corporations and individuals and CEOs that moved out of the US that were charged millions of dollars what what are they to do now now that you are making these decisions all right here we go vanel Black Swan capitalist at vanel 33 let's read this listen up to predict the coming crypto Bull Run and altcoin season follow the money and follow the central banks allow me to explain Global central banks are entering a synchronized easing cycle they telling us what's coming what does this mean it means central banks will increase liquidity together why is this important because the key driver of the four-year Bull Run Cycle is global M2 liquidity liquidity is what drives the markets please understand this retail does not start the Bull Run central banks and Wells start the bull run now if you're wondering why liquidity increases and crypto prices do not rise immediately after this is because after liquidity increases there is a lag effect which means it takes time for the money to move into the markets so when you compare historic bull runs with the global M2 liquidity Trends the connection is clear and undeniable the key is to get in early and have a plan if you want to know more about the fouryear cycles and how they coincide with the elections debt Finance Cycles the business cycle and the Bitcoin having suckle follow me and share this thank you very much vanel I am following you you are following me I'll leave all the links to everything we covered below and don't forget when you invest in these digital assets give them time to come to fruition because we are still early right here is several dozen of the many more digital assets that I am invested in not not Financial advice xrp is my number one flare is my number two there are many other ones I have dipped into and I'm holding on long term if you get a chance check out my Affiliates below they're crypto gadgets there are crypto Brokers there's crypto exchanges there's all kind of neat and nice goodies you can even learn more about me on my socials and don't forget to subscribe to my channel my name is James Roy xrp let's have a wonderful week do the right thing and we'll talk to you soon James R xrp is out of here I told you so [Music] [Laughter]