R47 🦘 (@R4_70R) header
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Brisbane, Queensland
Joined April 2020
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🎯🎯🎯
Replying to @CGasparino @SECGov
There is no ethereum decentralization test at the SEC. This is fiction.
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Replying to @CGasparino @SECGov
There is no ethereum decentralization test at the SEC. This is fiction.
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This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it. The future is bright. Let's build.
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R47 🦘 retweeted
Why is an XRP ETF important to price action? 🔑 “The price of an asset is SET IN THE DERIVATIVES MARKET.”🎯 “Mature derivatives are essential for price discovery.”📝 “In the derivatives market, buyers and sellers AGREE ON A PRICE.”🧩 Listen.👂 👇
“With the anticipated listing of several altcoin ETFs, 2025 could mark the year when altcoins transition from speculative investments to foundational assets in investment portfolios.”✅ 2025 is the year XRP solidifies its place as a foundational asset in investment portfolios. 💎 👇
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One of the most disingenuous arguments made in crypto against any project is the idea that decentralization is equivalent to counterparty risk. There is an incorrect conflation between a networks ability to process transactions while solving the double spend problem, as a public permissionless network (where your private keys determine ownership), versus the counterparty risk that large holders represent in purchasing power terms. These are not the same thing and conflating them betrays a deep ignorance in the technical details by the people making the argument. Educate yourself instead of making a virtue of ignorance. For example, let's pretend @saylor had 99% of all Bitcoin in his wallet. This would not impact any other wallet on the bitcoin network with regards to cryptographic security or transaction processing/node recognition. Not one micro iota. nein, nada, zip, nil, zero. Now if we want to talk about counterparty risk, we are implicitly talking about purchasing power in fiat terms. That is to say that the counterparty having a large amount can sell into the market can collapse the price by selling a large amount in a short period of time. So when a bitcoin maximalists screams about decentralization (of holdings) what they are really saying is that the counterparty can make price go down in an illiquid market, which is what they are all really obsessed with, namely fiat! There's a deep irony there that should be studied. The takeaway is that when evaluating a digital asset you should study a both the quality of the network to keep your assets secure (actual decentralization) and the distribution of assets on that network to preserve your purchasing power (counterparty risk). I can think of one large holder in the top 10 by market cap that has cryptographically locked their holdings to preclude this selling event that is being postulated. Unfortunately the largest Bitcoin holders do not have such cryptographic escrow mechanics in place, here's looking at you MSTR. I wonder why? Now evaluate your risks accordingly.
Hello @jackmallers Your emergency 🚨 BTC v XRP broadcast was a catalyst for fact spread on X. 🙏 🙏@Ripple, a centralized entity, like Mr. @saylor is using “a” digital asset BUT where is @MicroStrategy escrow? + Lack of respect🫡 to the Ripple fight & win is a HUGE mistake. Shame
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BOOOOOOOOOOOOOOOOOOM!!! New trailer for the world's first #XRP documentary. It will be released on November 21! 🔊⤵️🍿
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Gensler’s SEC has become unhinged. This will not, and should not, go unnoticed in an election year, as the SEC singlehandedly thinks it’s above the law, dragging the US further behind other G20 countries.
Gensler’s SEC has repeatedly acted outside the law – not going unnoticed by Judges admonishing the agency for a "gross abuse of the power entrusted to it by Congress" (DEBT Box case) and for acting without "faithful allegiance to the law" (Ripple case). Let’s not also forget Gensler’s lack of attention to SBFraud.
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🚨GENSLER’S PLAN: THE FREE PASS SPEECH TO THE GET OUT OF JAIL FREE CARD🚨 📜 THE PLAN: Gary Gensler's plan is designed to conceal the SEC's corruption involving Ethereum. Gensler gives Prometheum a 'magic bullet' license which offers Ether as a security, pretends his hand is forced (by his own actions) & then justifies classifying Ether as a security with the move to proof of stake despite it being deemed as such since the ICO. 🙈🙊🙉 COVERUPS: A ‘few’ of the illicit activities Gensler’s plan would coverup include: - SEC’s favoritism to Ethereum & Prometheum, both effectively controlled the CCP affiliated entity Wanxiang. - Gensler’s admission of Lubin’s speculative ICO purchases which first turned ETH into a security. - Hinman’s DAO Report (coverup for the DAO Hack) clear conflicts of interests & Free Pass Speech. - Ethereum’s internal docs showing it wasn’t decentralized. - The motives behind the Ripple enforcement action. - Why Gensler said XRP (and not Ether) was a security while Chair of the CFTC. - The SEC’s illegally lead false prosecution to silence me which I defeated & exposed 🤫 ✏️ THE SEC PURGE: Gensler is attempting to conceal the trail of corruption & criminal activity involving Ethereum, Lubin, Vitalik, the SEC, himself, and others prior to the Merge in 2022. Like Ethereum’s planned ‘Purge’ to erase data from the blockchain older than one year, Gensler is attempting to erase all this history. 🤯 ACCOUNTABILITY: Ethereum has been tainted since the day of the ICO & appears to have colluded with the SEC to continue the charade of decentralization. To deem ETH a security from 2022 onwards & ignore all the illicit actions prior is a coverup of unprecedented proportions right in our faces. This cannot be allowed & everyone who participated in these actions must be held accountable. 🚀💣 fortune.com/crypto/2024/02/0…
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🚨NEW: I recently reached out to the Securities Investor Protection Corporation (@sipc) regarding @PrometheumInc and discovered another reason why #crypto so badly needs legislation to figure out what its regulatory status is. When the @SECGov and @FINRA approved @PrometheumInc to become a special purpose broker-dealer of digital asset securities, Prometheum automatically became a member of SIPC, which means their customers would, in theory, be protected through SIPC if the firm fails. Most US-registered broker dealers must become members of SIPC under the Securities Investor Protection Act (SIPA) of 1970. The caveat: SIPC will NOT cover Prometheum’s so-called “digital asset securities” because they do not fall under SIPA’s definition of a security. SIPA says that in order to be considered a security, an asset must be registered with the SEC. No digital assets are currently registered with the SEC because there has not been legislation passed defining exactly what digital assets are. When I asked if being a member but not actually being covered as a member is an issue, SIPC told me that they have no authority to prevent a registered broker-dealer from being a member of SIPC, but that they would have reservations if the firm is not complying with their advertising bylaws. Their advertising bylaws say a firm should not advertise its membership if their interests are not included in the definition of the term “security.” On its website, @PrometheumInc says it’s a member of SIPC, then goes on to say that digital asset securities may not be protected under SIPA. So, they are members that are not really protected by SIPC, and even though the SEC and FINRA may consider “digital asset securities” to be securities, SIPC does not. Confused? Bottom line: Having a variety of government agencies with different views on the regulatory status of crypto could cause investor confusion and potentially be a problem.
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Brilliant
This reporter thought she was so Smart about the ecology and Weather alarmist of CO2 released into the air….blah blah blah…. THIS FARMER BLOWS HER AWAY WITH ACTUAL SCIENCE & SHUTS HER DUMBAZZZ TALKING POINTS DOWN!!!! B R I L L I A N T 🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥 #RoseTruths #Fight4USAorGTFO #RoseDC11 ✝️🇺🇸📜⚖️♥️
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The New York Department of Financial Services @NYDFS removed $XRP from its Greenlist AFTER Judge Torres ruled that the XRP token is not a security.   I wanted to find out why.   So here’s what I did about it. 👇 (Via @DigPerspectives )
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THE TRUTH SHOULD MATTER
“Last year, the Department of Justice indicted a Sinaloa Cartel member who laundered nearly $900,000 in crypto.” What she doesn't want you to know: In the years prior, the Sinaloa & Norte del Valle cartels laundered nearly $900,000,000 in fiat currency through HSBC. That's a fiat to crypto ratio of 1,000:1. Senator Warren's entire gambit depends on public ignorance. Cash remains the preferred currency of criminals. And when compared to crypto, it's not even close.
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If people haven’t figured it out by now, let me help you: the speech was a pure money grab - nothing more, nothing less. Whether you believe in #ETH or whether Ethereum is a great technology or ecosystem, is not the point. As I’ve said before, had the @SECGov sued @ethereum @Consensys @ethereumJoseph & @VitalikButerin, alleging #ETH was a security, instead of @Ripple @bgarlinghouse & @chrislarsensf, I would’ve sued the SEC just like I did over #XRP. Prior to the speech being given, the SEC 💯 refused to discuss any particular crypto token. Since the speech, the SEC has 💯 refused to discuss any particular crypto token, including #ETH. Why hasn’t there been an investigation? Here’s an explanation: History books will discuss this era as the Corruption Era. An era when Congress exempts itself from insider trading laws so that members of Congress, recently briefed about a pandemic and a government shutdown, can use that non-public information and cash out of the stock market before it crashes, making hundreds of thousands of dollars. An era when the Speaker of the House presents a Bill on the House floor favoring credit cards companies, like Visa, and then shortly thereafter, the Speaker and her husband are offered millions in Pre-IPO shares of Visa, not offered to the public, making millions of dollars. An era when the Vice President of the United States uses his office and position to secure millions of dollars for his son and his family, but deny it to the American people when running for President. An era when the President of the United States has foreign governments and foreign nationals intentionally staying at his resorts and hotels, making sure he knows it, in the hopes of securing favors in the future. An era when the Secretary of State has a foundation that accepts donations and money from foreign countries and foreign nationals while she is Secretary of State, and meeting those donors in her official capacity for the United States. An era when the Chairman of the FDA literally leaves his government post and shortly thereafter is named on Board of Pfizer. The same era that the son-in-law of the President gets a loan for hundreds of millions of dollars from Apollo Group and shortly thereafter, the SEC Chair drops an investigation into Apollo Group, and then afterwords, that same SEC Chairman resigns from the SEC, but is immediately appointed as an advisor or board member to Apollo Group. An era so ripe with corruption, the CEO of an offshore exchange, and the son of Democratic operatives, donates tens of millions of dollars to the incumbent administration for the purposes of access to regulators, and after those donations, he gets private meetings with the Chairman of the SEC, the Chairman of the CFTC, and members of Congress. Because this era is marked with such a blatant disregard for conflicts of interests or appearances of improprieties, a Director of Corporation Finance wouldn’t hesitate to give a speech providing a massive regulatory advantage for the same people literally paying him. He wouldn’t hesitate to allow those same people to help write the speech. Nor would he hesitate to go work for those same folks after giving the speech. And because this speech occurred during the Corruption Era, MSM and others, don’t bat an eye. Why would they? It’s the Corruption Era. It’s expected. It’s the era of “Get yours, while you can.”
In the @Coinbase & @Binance hearings, The SEC touted the benefits of the guidance it had given about how to analyze whether crypto tokens are securities. Yet, they omitted any mention of Bill Hinman's invention of the "sufficiently decentralized" test. As if it never happened.
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Politico reports No New Challenger has emerged to unseat Sen. Elizabeth Warren. @JohnEDeaton1 is capable of flipping this seat 💯The Warren "Anti-Crypto Army" doesn't stand a chance against the Pro-Crypto Army 👉We call on John Deaton to run 🇺🇸 Please SHOW YOUR SUPPORT & SHARE 🙏 politico.com/massachusettspl…
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If this doesn’t anger 😡 you to your core, we likely can’t be friends. It is absolutely disgusting.🤮
🇺🇸 #SBF Sam Bankman-Fried lost $8bn of #FTX client money. He donated $100m in stolen customer funds to US politicians. The US Government are prosecuting his fraud, but dropping his political campaign finance violations & likely won’t clawback the politicians for victims. 🤔
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Stunning hypocrisy from the person who cozied up to the biggest fraud in recent memory. Gensler is a political liability whose actions have decimated consumers and destroyed the integrity of the SEC, while remaining buddy-buddy with Wall Street. youtu.be/6N8yyKPOPWM?si=2pDO…
There is a lot of noncompliance in the crypto space. It undermines confidence when so many people have been hurt and all they can do is stand in line in the bankruptcy court. Further, this can make it hard for the good faith actors to compete.
Readers added context they thought people might want to know
Crypto companies like Coinbase (a public company that the SEC oversaw the listing of) have been trying to gain clarity on SEC guidance for compliance for the past few years. The SEC hasn't taken a clear stance and has relied on regulation by enforcement. Source: reuters.com/technology/us-… forbes.com/sites/nizangpa…
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1.5 billion US dollars for Sullivan&Cromwell and Jay Clayton. Nobody at the @SECGov has any incentive to do anything to protect retail. They make their living on it. Before, during and after their time working for the SEC.
Here is the real scam. @FTX_Official bankcrupcy legal fees are higher than the customer shortfall. $1.45b in legal fees. $1.42b owed to customers. @GaryGensler who did you protect?
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\\٩(ˊᗜˋ*)و ♡ // @CaitlinLong_ ! "Thank God we have people like (@JohnEDeaton1) that in our industry" ❤️@brassknuxbooks congrats on this "page turner"
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Starting to understand how these accounts are connected -- @CryptoGeekNews, a well-known news scammer has built a website that drives you to his article IF we use the keyword phrase that @edward_farina suggests we use for the Google search: "Federal Reserve use of XRP globally". (Edo conveniently uses the sus X account @xrpxlmxdc1 as his source, however obviously connected). This coordinated effort with many X accounts is manipulating news and clicks in multiple communities, including BTC. eightify.app/summary/blockch…..
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