1/ After a good night's sleep, I have a few thoughts on the impending Ripple lawsuit.

Less schadenfreude, more "what now?" https://t.co/a0oTwblBHB

2/ First of all, the USG is going to lose.

I don't even need to read the complaint. They might force a settlement, but they're outclassed on legal.

Remember Ripple engaged former SEC Chair Mary Jo White in a civil matter in 2018. A hint of their $$$.

https://t.co/MsA9X58lAx
3/ Second, the USG should lose.

The SEC restrictions on non-accredited investors; the ridiculous Howey test; 80 year old securities law like the "40 Act" all need to die in fire. They are un-American and completely outdated.

I hope Ripple wins. (WUT?)
4/ Third, it's incumbent upon industry to self-police and hold the moral high ground.

I give certain individuals A's and others F's, but as a whole, the most powerful people and companies generally take a Swiss neutrality stance on assets.

So we're effectively in this together.
5/ We're "in this together" to draw lines of regulatory demarcation.

XRP as a "security" further hurts the U.S. businesses while global comps will continue to make these markets.

XRP as a security also means other assets will meet the same fate. At least Ripple has $ to fight.
6/ Ultimately, the USG won't kill a domestic golden goose.

The US will soon be "on the take" as well. Fine Ripple, extract. Tax future Ripple XRP sales, extract. Keep Ripple funding California!

Ripple will settle and get more aggressive in marketing.
7/ Fifth, the Howey test is broken; Ripple can set new precedents.

Ripple has credible claims XRP is being used as a bridge asset today. Sure, the *primary* use is funding Ripple, but ODL IS gaining steam, if for no other reason than it's being foie gras'd to equity partners.

More from Law

I was right. "Lawyer" starts out with name-calling and an insistence that trial is "unconstitutional". He's saying Trump's 1/6 speech was rather bland, and pretending that was the only thing the House managers talked about, and the managers were "slanderous."

Bilious bullshit.


"Lawyer" is arguing that since there were objections raised by Democrats to some of the vote counts in 2016, that means Trump didn't engage in sedition.

I'm not sure how that logic works.

Now they're running a Trump campaign commercial.

A bunch of whataboutism, contrasting patriotic music behind Trump's racist dogwhistles about "law and order" against Democrats making firey speeches with dark music.

He went to the moronic Gym Jordan argument that Trump couldn't have instigated insurrection if the violence was gonna happen anyway (without acknowledging Trump had been encouraging and building up to that violence for close to a year).

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And here they are...

THE WINNERS OF THE 24 HOUR STARTUP CHALLENGE

Remember, this money is just fun. If you launched a product (or even attempted a launch) - you did something worth MUCH more than $1,000.

#24hrstartup

The winners 👇

#10

Lattes For Change - Skip a latte and save a life.

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@frantzfries built a platform where you can see how skipping your morning latte could do for the world.

A great product for a great cause.

Congrats Chris on winning $250!


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Instaland - Create amazing landing pages for your followers.

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A team project! @bpmct and @BaileyPumfleet built a tool for social media influencers to create simple "swipe up" landing pages for followers.

Really impressive for 24 hours. Congrats!


#8

SayHenlo - Chat without distractions

https://t.co/og0B7gmkW6

Built by @DaltonEdwards, it's a platform for combatting conversation overload. This product was also coded exclusively from an iPad 😲

Dalton is a beast. I'm so excited he placed in the top 10.


#7

CoderStory - Learn to code from developers across the globe!

https://t.co/86Ay6nF4AY

Built by @jesswallaceuk, the project is focused on highlighting the experience of developers and people learning to code.

I wish this existed when I learned to code! Congrats on $250!!