More requests from the SEC

[HAL1000]

https://www.dropbox.com/s/tysglzlk7sb4yp7/SEC Motion to Compel filed 5.25.2021.pdf?dl=0

 

J.Hogan please break all this down into plain English for all of us who do not speak BS, sorry I mean SEC legalese

IMO the SEC are casting the widest net they can and hoping to catch something / anything. If I was the judge, I would be like "HEY SEC what about this 30,000+ petition to investigate JC and Henchman, it seems like we should be looking at you first, along with this new ETF filing from one river, you know the company that now EMPLOY's JC as a crypto advisor (LOL)!" Of course judge, could we just slow up and nobble the competition a bit more in the meantime, NO says the judge, I ain't been brought or paid off, like some!

Edited May 25, 2021 by HAL1000

[RobertHarpool]

I hate the way the Tenreiro's attempts to impugn Rios, former Secretary of the Treasury ... Would someone PLEASE tell Jorge to put down the shovel and step away from the hole? 

 

 

[peanut56]

I love how they have had eight years to investigate and now the need to do more investigation by attempting to compel Ripple employees.  Or how Ryan said XRP differs from Ethereum. Why yes XRP is different it has a completely different mechanism for securing transactions. Anyway it looks like the SEC is running out of information to produce that would cause xrp to be a security. And they are digging and will continue to dig until they no longer have the resources to do so. 

[CryptoPitbull]

Just to add to this. Deaton made a good point about how trials usually work. I assumed because the SEC keeps trying to desperately throw everything they can at Ripple that they were far from a settlement. Apparently, that may not be the case. 

 

[HAL1000]

Jeremy Hogans tweet=

The SEC is requesting more depositions and more documents. There's only one reason to do this: your discovery to date has not given you what you need. And what is most of the further discovery about? Yep, the "Fair Notice" defense. That defense sure does make the SEC nervous!

 

Edited May 26, 2021 by HAL1000

[Guest]

The SEC is meant to protect investors. The SEC has done the opposite. How can they justify a lawsuit three days before Christmas? And then the leaders resign. 

It's clear Clayton wanted to harm the XRP market. 

Meanwhile China forges ahead in developing a financial framework that could position them further ahead economically. 

The US is more in debt, facing inflation and a weakening dollar. The SEC should really think about what they are doing. Why destroy an American company that's spearheading development in the space? It makes absolutely no sense. I hope Gensler moves quickly. Time is of the essence. 

If the SEC were protecting US investors, tens of thousands of people wouldn't be against their actions but supporting them. The opposite is happening. People are supporting investigations into Clayton and Hinman and supporting John Deaton. 

Give it up Tenreiro. We don't support what you and your team are doing, because we don't believe in the merits of your case, and we don't agree with your position. Thousands of us. The same people you say you want to protect don't want you representing them, because you're wrong on the facts. 

[NightJanitor]

2 hours ago, RobertHarpool said:

I hate the way the Tenreiro's attempts to impugn Rios, former Secretary of the Treasury ... Would someone PLEASE tell Jorge to put down the shovel and step away from the hole?

I'm not even reading this stuff... maybe later, if I get bored in total retirement and decide to write a book.  Jorge will be painted, if at all, as a sort of foot-soldier - just following orders - not an "attack dog", more of an "attack chihuaha."

If he went after Rios, though - yeah, that might get him in the book - because I've seen her talk - and she talks A LOT faster than Jorge - brain's moving so fast her body can't keep up!  (He really knows how to pick fights he cannot win!)

[RobertHarpool]

@NightJanitor Rios is not specifically named as the "former government official" touting XRP as a currency ... that person's name has been redacted. You'd have to be a couple sandwiches short of a picnic to not figure out who he's referring to tho... 

[NightJanitor]

Well, you know, I guess we'll see how it ends up, but... depending on how he acts, maybe I'll be kind and just paint him as a tragic figure - sort of the way we had to write up Germany, after the war... "The people aren't bad - they're just very... tidy.  And that long-instilled sense of tidiness was exploited by a leader who... --- but they didn't know and are good folks, tho!"

Operative in that paragraph is the word "depending."

(If the studio wants to go another way - less tragic - I'd probably steal some inspiration from Peck.)

ETA:  Actually, now that I think about it, Tenreiro is exactly the kind of guy I'd want attacking scam coins...  he's perfect for that type of mission... the casting is right... the target selection just sucks!

I sense a redemption arc for Jorge...  There's a second act, buddy, if you're reading this.  Hang on!

Edited May 26, 2021 by NightJanitor
"but don't quote me on that"

[HAL1000]

 

[CryptoPitbull]

3 hours ago, HAL1000 said:

 

Interesting about the sealed letter. When was this from?

 

[HAL1000]

A good follow up:-