Ripple #XRP $10 Million Settlement With The SEC!!! Is It Enough?

Ripple #XRP $10 Million Settlement With The SEC!!! Is It Enough?

what’s up you guys it’s Matt here now
while the market is not looking so hot I
always resort to going to whatever news
is out there if we have any brand new
news on jasm coin or on um the overall
Market I want to see what’s out there
well today in this video I want to talk
about xrp and the News related to the
SEC versus Ripple because that’s really
where all of the excitement is all the
conversation is headed is towards
xrp or Ripple versus the SEC and what’s
going to transpire there because we have
this continuation and honestly every
single person within the xrp community
just wants this to be over everybody in
crypto just wants this to be over
because once this is over you have a lot
of things right you may have Clarity in
you know the stats and you know
statistics for um xrp and exactly what
the supply is what the escrow looks like
how they feel about the escrow all these
different things right but then you also
have Clarity in cryptocurrency you
understand what is label to security
what isn’t labeled to security um the
different arguments behind it what’s
legally um you know behind the decision
that was made and as you have that that
uh legal decision that’s out there you
now have legal Clarity with xrp you have
legal Clarity with crypto so you can say
okay this um lives up to this standards
of whatever we have for our Securities
laws so that being said we can Now
understand where their definition is and
if we don’t fully agree with it you can
try and argue it and fight it and uh try
and uh do things in order to kind of
create a little bit more clarity but the
point is that we need some form of
clarity right so in this video I want to
talk about the fines associated with it
and uh associated with um xrp or Ripple
versus uh the SEC and what the SEC wants
versus what Ripple really wants to pay
so guys hit that like button hit that
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Bell for more of these videos also make
sure you check out some of the links
that are down below it does help out the
channel and if you guys want to trade
xrp you can trade it on many different
platforms but you can also leverage
trade it over on Marx which I have a
link for Marx down in the description
you can trade up to 50x leverage if you
want to doesn’t mean that you have to
but you could do it if you want to so if
we go into where xrp is right now again
the market overall does doesn’t really
look too hot doesn’t really look too
amazing but we’re seeing xrp around 53
cents it’s slightly down on the day or
sorry slightly up on the day and we’re
seeing it at a$ 29.2 billion market cap
with the volume down by 7% at 1.4
billion uh if we look at the volume to
market cap ratio it’s sitting around the
5% level you know I like to see it at
10% for popularity but as you get up to
multiple billions of dollars worth of
market cap it’s very difficult to get to
those points because that’s a a lot of
money that flows through one
position um if we look at the
circulating Supply we’re sitting at
5513 uh 55.1
3% um of the total Supply which is 100
billion now um the main topic of
conversation around xrp always hovers
around Ripple right and ripple says that
$10 million penalty is enough and
rejects the sec’s ask of one .95 billion
fine in the final judgment so the court
had uh found Ripple violated Federal
Securities laws by making institutional
sales of xrp but dismissed other
allegations uh brought by the SEC which
is honestly a win in Ripple’s case but
you you still have that ultimate like I
guess loss when it comes to
institutional sales right if they label
it that way uh Ripple Labs filed an
opposition on Monday against the US
Securities and Exchange Commission uh
proposal to ask the New York judge to
impose a nearly $2 billion fine against
the company behind xrp Ledger blockchain
the court should deny uh the sec’s
request for an injunction for uh
discouragement um and uh for prejudgment
interest and that should impose a civil
penalty of no more than $10 million the
the filing said the SEC proposed um
proposal asked the court to order Ripple
labs to pay $ 876 million in
disgorgement um
$198 million in prejudgment interest and
876 million in civil penalty amounting
to a total of 1.95 billion the court had
found Ripple violated Federal Securities
laws by making institutional sales of
xrp but dismissed uh similar allegations
by the SEC
that the sale of xrp on exchanges and
through algorithms um also violated the
law the SEC uh remedial uh REM remal uh
requests are are more uh evidence of the
administrative uh overreach that has
um uh beset has beset uh this case uh
Ripple’s lawyer wrote uh the agency acts
as though uh it had prevailed entirely
and had uh uh proved Reckless conduct it
has done neither the agency also seeks
discouragement uh barred by controlling
Supreme Court and um and circuit a
precedent and the the separate penalty
that exceeds by or exceeds by more than
20 times what the um obtained from what
has been obtained by any other defendant
or um respondent uh in the digital asset
case uh so honestly this is this is
interesting right because I thought the
same thing right when you look at
something like say uh Kraken Kraken paid
$20 million for uh obviously their
violation in a way and um they paid 20
$20 million in fines I believe that was
the case but then Ripple Labs has to pay
$1.95
billion um in way I feel like yes while
you do label it as such it should not
lead up to that much and it should never
be a settlement for that level and I
think it’s probably because of the fact
that this has been so longstanding like
the whole entire process has been
longstanding and you look at Ripple and
how or you look at uh Kraken and how
long that lasted it was like a less than
a month I don’t even know exactly the
time frame but it was uh really small
amount of time like a short period of
time so seeing that you kind of uh look
at those and you’re like this this is
ridiculous that you’re doing 20 times or
um you know even more than that a 20
times the $2 million um you know level
there you’re looking at a $400 million
uh payout and that’s still massively
above that point right you’re talking
about you know a 100x up to a$2 billion
F versus a $2 million fine like that’s
crazy um comparable now could you work
around things and do things the right
way next time obviously that’s the way
Ripple is going to do it but $10 million
is enough um you can say that 20 or $30
million is enough just to be kind of
above that level it’s been going on for
so long that I guess the SEC just wants
to get its money’s worth and how it did
have to fight this whole entire time um
so I don’t know what you guys think of
it but I know that I believe $10 million
is enough I believe it should be less
than in my opinion it should be less
than 50 million but that’s just my
opinion I’m not a lawyer um what I’ve
seen in the past is obviously there’s
been less of a payout it hasn’t been
this aggressive a payout the only one
that has been an aggressive payout was
binance and that was just a whole bunch
of other things instead of just
violating Securities laws it was um so
much more than that we’re talking about
like money laundering and and things of
that nature right and uh things that are
hidden behind the background behind the
scenes of the SEC however
um it’s not behind the scenes of um uh
CZ who actually knowingly knew that that
was going on right so anyways um that’s
where it stands that’s where xrp stands
I believe 10 million is enough I believe
less than 50 million is perfect um and
then you can get this all settled out
and work on um the future of Ripple the
future of xrp the future of crypto
that’s where I see it in my opinion guys
if you could hit that like button hit
that subscribe button hit the the
notification Bell for more of these
videos I’m going to get out of here I’ll
catch you in the next one see you

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