🚨XRP MEGA BULL RUN COMING AS SEC RIPPLE CASE WRAPS UP! SEC GETS $125 MILLION!! - podcast episode cover

🚨XRP MEGA BULL RUN COMING AS SEC RIPPLE CASE WRAPS UP! SEC GETS $125 MILLION!!

Aug 08, 202419 min
--:--
--:--
Download Metacast podcast app
Listen to this episode in Metacast mobile app
Don't just listen to podcasts. Learn from them with transcripts, summaries, and chapters for every episode. Skim, search, and bookmark insights. Learn more

Episode description

Crypto News: The SEC Ripple XRP case is finally over! The SEC gets $125 Million penalty versus the $2 Billion they asked for. This is bullish for XRP and altcoins and a possible XRP ETF this cycle.

 💡Get the (Re)Thinking Crypto Book on Amazon - https://www.amazon.com/dp/B0D2525DYX

Sponsors:
🌟Uphold - Signup with Uphold. https://uphold.sjv.io/gbED4X Terms Apply. Cryptoassets are highly volatile. Your capital is at risk. 
⭐️ Learn about BitGo, one of the top crypto custodians - https://www.bitgo.com/ 
✅ VeChain is a versatile enterprise-grade L1 smart contract platform https://www.vechain.org/ 
🖥️ Sign up with Santiment to get quality crypto metrics - https://santiment.net/?fpr=thinkingcrypto Get 25% discount with code THINKINGCRYPTO 
📰 Sign up for the Free Thinking Crypto Weekly Newsletter https://thinkingcrypto.substack.com/ 
✉️ Crypto MailBag - https://forms.gle/vdwYC1eSpkCrc2fQ8 
🔥 Buy crypto on Coinbase - https://coinbase-consumer.sjv.io/baYbem 
🚀 Get the Ledger Nano X to Safely store your Crypto - https://www.ledgerwallet.com/r/acd6 
✅ Become a Channel Member - https://www.youtube.com/channel/UCjpkwsuHgYx9fBE0ojsJ_-w/join 
🔥 Buy Merch & support the Podcast https://my-store-574b5b.creator-spring.com/ 
🧙‍♂️Merlin - http://tinyurl.com/MerlinTCYouTube “I am a Merlin partner and get compensated for purchases made through links in this content"this content" 

Follow on social media:
➡️ X(Twitter) - https://twitter.com/ThinkingCrypto1 
➡️ Facebook - https://www.facebook.com/thinkingcrypto/ 
➡️ LinkedIn - http://linkedin.com/company/thinking-crypto 
➡️ Instagram - https://www.instagram.com/thinkingcrypto/ 
➡️ TikTok - https://www.tiktok.com/@cryptobreakdowns
➡️ Threads - https://www.threads.net/@thinkingcrypto 
➡️ Website - https://www.ThinkingCrypto.com/ 

🔊 Listen to content on Apple Podcasts - https://podcasts.apple.com/us/podcast/thinking-crypto-news-interviews/id1458945676 
🔊 Listen to content on Spotify - https://open.spotify.com/show/221AV5A65v7uYEsuMviVKl 

💼Business Inquiries💼
hellothinkingcrypto@gmail.com

=================================================
#XRP #Ripple #XRPnews #SEC #GaryGensler #Crypto #CryptoNews #Cryptocurrency #Bitcoin #BTC #BitcoinNews #ETF #News #Ripple #RippleXRP #Ethereum #EthereumNews #ETH #Solana #money #investing #trading #Altcoin #Altcoins #NFTs #Metaverse #Podcast #ThinkingCrypto ================================================= 
The Thinking Crypto Podcast is your home for the best Crypto News and Interviews - crypto, cryptocurrency, crypto news, bitcoin, bitcoin news, xrp, xrp news, ripple, ripple news, ripple xrp, ethereum, ethereum news, cardano, ada, solana, altcoins, defi, news, interviews, podcast, metaverse, nft, altcoin daily, cryptosrus, coin bureau, altcoin news, bitcoin today, markets, investing ================================================= 
Disclaimer - The Thinking Crypto podcast and Tony Edward are not financial or investment experts. You should do your own research on each cryptocurrency and make your own conclusions and decisions for investment. Invest at your own risk, only invest what you are willing to lose. This channel and its videos are just for educational purposes and NOT investment or financial advice. Note that links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel so I can continue to provide you with free content each week!

Become a supporter of this podcast: https://www.spreaker.com/podcast/thinking-crypto-news-interviews--3464539/support.

Transcript

Speaker 1

XRP is ready for a mega bull run as the SEC versus Ripple lawsuit concludes with the SEC only getting one hundred and twenty five million dollars. This is big and reports are coming in that Wells Fargo is going to follow in Morgan Stanley's footsteps and offer bigcoin etfsody clients. We're gonna break this down and much more. Let's get into it. Welcome into the Thinking Crypto podcast. I'm your host,

Tony Edward. On your way in. Please hit that subsprib button as well as a thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please leave a five star rating and review. Folks. The breaking news and that is Judge Torres has issued her ruling on the SEC's motion for remedies. So let me give you some details here. Jeremy Hogan, Attorney Jeremy Hogan said, the SEC versus Ripple case has been quite a journey. Thanks for sharing it

with me. One hundred and twenty five million dollars penalty and a generic injunction. This is a big win for Ripple, no doubt about it. Have a wonderful day. We get Ripple CEO Brad garling House weighing in, he said, the SEC asked for two billion dollars and the court reduced their demand by approximately ninety four percent, recognizing that they had overplayed their hand. We respect the court's decision and

have clarity to continue growing our company. This is a victory for Ripple, the industry, and the rule of law. The SEC's headwinds against the whole of the XRP community are gone. So well stated here by Brad, the SEC and Gary Ginster continue to look like fools and Scumback Regulator Gary Ginser continues to lose. I know some people are going to say, but dude, they have to pay one hundred and twenty five million dollars. It's what I've

been saying for you literally years. Ripple would have to pay a small fine, but XRP would be ruled intrinsically not a security. So Gary loss on XRP being intrinsically a security. He wanted two billion dollars, you only got one hundred and twenty five million, which is peanuts to Ripple, right, and then he's losing in the court of public opinion, and then he's losing the narrative with all these court losses to gray scale and much more, he is losing

left and right, and he's getting exposed. In addition, you have Donald Trump, by presidential candidate, calling him out. The Democrats are turning on Elizabeth Warren and Gary. Right, the seventy one Democrats voted with Republicans that passed the FIT twenty one bill out of the House. They voted to repeal the sec saw one two one in the House

and Senate. So clearly, Gary Ginser is on the losing side of history, as I've been saying for so many years, and all these things are coming to fruition guys, because as we've been saying, Gary Genser was weaponized by the trad fying comments to kill startups and kill these crypto companies so that the trad fying comments can come in and take over. That's the whole thing here. Gary's a Goldman Sachs guy. You don't think phone calls were made

when XRPCE price went up. And this crypto company is doing this in coinbas is, going public and all that to try to sue these guys, slow them down, put up roadblocks so that black rocks, so that JP Morgan and all these guys can catch up if you don't believe that that you don't understand how the world actually works. Now,

Ripple Stewart Al the Roddy weighed in as well. He's the chief legal officer, he says a final judgment, the court rejects the sec suggestion that Ripple acted recklessly, and she reminds the SEC that this case did not involve any allegations of fraud or intentional wrongdoing and no one suffered any financial harm. She rejects the SEC's absurd demand for two billion dollars in fines and penalties. We respect the one hundred and twenty five million dollar fine the

court has imposed for certain historic sales to sophisticated third parties. Here, James Murphy aka Metal law Man, weighed in, saying Judge Torres has issued her ruling on remedies in the Ripple case zero dollars in disgorgement as expected because no loss is shown by the SEC. One hundred and twenty five five million dollars in civil penalty for securities violations and sales to institutions injunction restraining Ripple from further violations of

Section five of the Securities Act. This is a small fraction of the damages the SEC was seeking in the case. He says, my guess is both sides will appeal, so

they do have sixty days to appeal. However, I don't know if the SEC will appeal because Gary Ginzer, he's almost out of the door here given all the political pressure, and in addition, does he want another loss here rather than taking this small win and say, you know what, we got one hundred and twenty five dollars And you know, he's gonna do his parade, He's gonna go do his media tour. Yeah, you know, we went after Ripple. We got one hundred and twenty five million dollars. He's gonna

frame it as a win. But it's clearly not a win for them. And I'm gonna have Attorney Fredispoli on the podcast tomorrow to try to get his take on what may happen next. Look, it's not completely off the table that the SEC could appeal, but I don't think it's likely. And if they do, will they actually win anything to win the appeal? Right, how long do you want to keep doing this? So we'll see what happens, and I'll try to get some legal experts to weigh in.

James Seifert a Bloomberg he's an analyst I've had on the podcast quite often. He said, I'm sure the SEC will refer to this as a win for getting one hundred and twenty five million dollar penalty, but that's really a win for Ripple as far as I'm concerned, and an l for the SEC's regulation via enforcement stands so well put, I think a lot of people in the industry are recognizing this. So let's talk about what does

this mean for the price guys. Well, I tweeted out a bunch of stuff today, and essentially this removes any dark cloud of uncertainty and litigation, which I was concerned about for XRP, because investors will be very hesitant, especially big money institutional investors, right because if they know something is tied up with litigation with the SEC, they're going to be like, look, risk averse, we don't want to

touch anything. Not that they hate XRP, but just anything that's in a lawsuit, why would you want to invest in it? Right? Well, those dark clouds are gone, my friends, and I believe XRP has the clear, clear pathway and runway here to take off and go to new all time highs possibly four to eight dollars as three to sixty trader who's a great analyst, he is talking about here, and I'm going to have him on the podcast pretty soon to talk about this and his technical analysis on

the four to eight dollars price targets for this cycle. Now, no one can call an exact price target. We don't have a crystal ball, but based on chart analysis, based on factors like having the clarity in the market and liquidity and much more. And XRP still guys in the top ten. Even with a lawsuit all these years being delisted from exchanges, it stayed in the top ten. Those are facts. I don't care if you hate XRP. You have to respect the facts. And that is there's interest

in this asset. And even a credible crypto who I've had on the podcast highlighted this. He was actually replying to some people who are spreading fut about XRP. It doesn't matter what your emotions are or how you feel. What do you love or hate it? He says, XRP remains a top ten crypto by market cap. It doesn't matter what you or I think about its usefulness. The market as a collective is telling you that they value it more than ninety nine percent of this space. And

that's a fact. It will have its time in the spotlight again, whether you like it or not. And that's how you got to approach investing folks. Not your feelings, not your emotions. Oh I don't like this company, Well that's your right to feel that way, but it doesn't mean the market has to respect it or go buy your feelings. The market goes by different factors and keyword on fact So this is really great. Credible Crypto also said the stage is now set for an inevitable, in

my opinion, mega run for XRPS. So I agree with him. I think XRP is going to do well with this case. Now remove and you know, concluded, regardless of if appeals a file or not, the narrative that XRPS is security and that this oh Gary Ginser may come back with a punch, you may do all that nonsense of like bitcoin maxis and so forth. It's done. They've lost the narrative, and I think we're going to see liquidity start coming

back into the market via bitcoin. Right, we always talk about the money comes in via Bitcoin, then it trickles down to etherrem and then the all coins. So XRP on the charts right now is moving a bit, But I don't care about this. It's at sixty three cents what I'm looking for as three sixty traders said four to eight dollars. So I'm more bullish on the fact that it has the clear runway to do a massive

move for this cycle. And you know, if you layer the Fibonacci model here based on last cycle's price, and we know last cycle got cut short because of the lawsuit. Look, it could put us in that four to five dollars range and possibly higher, right, because it has finally the clear runway. And this also opens up the possibility that we may see in XRP spot ETF because the once this case is concluded, could the SEC be vindictive and try to block it? Sure, but we see that there's

possibly gonna be a regime change coming up. Right, Gary Ganser maybe kicked out even if Kamala Harris wins. We know he's definitely gone if Donald Trump wins. Right, But the SEC has lost the narrative, Folks, We've seen capitulation over the past few weeks and we saw the Binance stable coin case got dropped, the Stacks case got dropped, they dropped the investigation against Etherorem, they approved the Etherorem's BODYTFS.

So we're seeing some capitulation here and this is a great day for not only XRP, but all all coins, folks. In addition, I forgot to highlight this, there was some reports and it's not one hundred percent confirmed that the SEC was removing certain all coins from the Binance US case, like Solana, Cardano and so forth. So, guys, I'm so bullish, so bullish. I know the prices right now don't reflect that.

But remember market cycles, folks. Market cycles understand that pullbacks, corrections happen and you will have a rollercoaster ride up. So this is why you dollar cost average in. But you also dollar coross average out as you get into profit, folks. So don't forget to have a plan, my friends. Exciting times ahead, and look a great place that you can buy XRP and all all coins and bitcoin is Uphold. It's a platform I've been using since twenty eighteen. They

have two hundred and sixty plus cryptocurrencies. They also have precious metals like goalsiver, palladium, and platinum. They're available in over one hundred and fifty countries. They are also fully reserved. They have transparency reports that you can review, and they don't commingle or lend out your funds and all that nonsense. So if you'd like to learn more about Uphold, check

out the link in the description. Now, folks, we also got news that Wells Fargo is reportedly planning to offer bitcoin et apps, following Morgan stand and Morgan Stanley today started allowing their fifteen thousand wealth advisors to pitch the bigcoin ETFs to their clients. And those ETFs, of course, are the Black Rock ETFs and the Fidelity ETFs. So guys, this is not one hundred percent confirmed, but of course it's not far fetched. This is not outlandish game theory.

First domino falls, no one going to get left behind. They all jump in. So it's just a matter of time before all of Wall Street is offering bigcoin ETFs, right, It's not a matter of if, it's a matter of when. And then I think we're going to see the dominoes continue to fall as we head into Q four and inflows started rising again and the price of bitcoin will reflect that. Right now fifty five k right, just over

fifty five k. Not much to call home about. But market cyclist, folks, we're going to see the liquidity come back in. Yes, could there be some more volatility in the coming weeks before we find some sort of bottom, of course, But have the macro outlook. Have the macro view so that you can reap the game as this bull market continues. And yes, we are in a bull market. Go look at the charts and you'll see the story that's being told here. This is not a bear market.

The bear market was twenty twenty two when we were in a clear down trend. Right right now we are in a clear uptrend, folks. So once again, have a plan so when the price does start moving, you're not caught flat footed and you know what your strategy is and what you're going to do. Now, here's some very big news around a new crypto fund or funds that is being started. So Meltem Demrez, who used to be at coin Shares. I've had it on the podcast over

the years. She's launching two venture funds totaling seventy five million dollars, so of course this is going to be put towards crypto. So it's a pretty incredible all these funds that are being started to invest in crypto, and I think because everyone sees the potential. So this is being reported by Forbes. So this is pretty big and it's going to be called crucible Capital. Now, guys, we've

got some interesting news around crypto and politics. So Fairshak, the super pac, the crypto superPAC, they just announced that they will be spending twenty five million dollars on tv AD campaigns to support eighteen House candidates from both parties. And these are pro crypto candidates. So it's what we've been talking about. You go anti crypto and you will be demolished and destroyed in the elections. You're not going to win. If you are aligned with Elizabeth Warren and

the anti crypto army, it's over for you. And the crypto industry has raised over two hundred million dollars. So guys, let me share what the spokesperson, Josh Vlasto of Fairshak had to say. We are seeing a broad bipartisan consensus behind crypto and blockchain as a critical component of the future economy. More than fifty two million Americans own crypto, with the sector responsible for tens of thousands of jobs

across the country. We will continue to deploy our resources in support of leaders on both sides of the Isle and in both Houses who are committed to getting things done and working with the industry to pass responsible regulation that drives innovation, creates jobs, and sustains America's global leadership. And here's a great example of this, guys. A crypto skeptic. Her name is Cory Bush, and she's a Saint Louis congresswoman has lost her Democratic primary race to Wesley Bell,

who's also a Democrat. But guess what Corey was anti crypto. She pretty much voted against the FIT twenty one bill, which seventy one of her colleagues voted for with the Republicans. She voted against the repeal of the TSAB one two one rule from the SEC. She voted against CBDC, anti

surveillance state hack. You go against crypto and you will lose. Guys, this is what The fifth example I've shown you just the other day was the guy out of New York right who was an Elizabeth Warren Crony and then in the we saw it in the primary zone on Super Tuesday, right. I don't remember all the names, but I reported in all these things. Here's a clear example because the crypto industry is hire getting knocked around and bullied by these

bureaucrats and all these clowns, and they're fighting back. They're punching back, and these people who go against crypto once again, they're going to lose. Now. In yesterday's podcast, I told you guys about the Democratic group that is forming a kind of a coalition called Harris for Crypto. They're trying to get a Kamala Harris to put out some clear

statements about what her policy in crypto is. We are, of course, still waiting to hear from her on that, and maybe now that she has a vice president running mate, that she will hear something. But as I've been saying, show me, don't tell me. I don't want to hear talk. I want to see what you're going to do here, though, we got some reports from Axios that the Harris team

is considering Wally Adeemo, a cryptocritic, as Treasury Secretary. Now this hasn't been confirmed, and I'm giving him the benefit of the doubt that they will pick somebody who is not anti crypto because this guy, I've heard from people in DC, he's a Elizabeth Warren crony pretty much. And one of the things I learned last time I was down in DC and for the summit there, a Crypto summit, was that Elizabeth Warren's cronies are in different places pretty much.

She has staffers and then she sends them out to different parts of the government, and they of course all report back to her. That's pretty much what's going on. And because she has this pretty high office, you know, overseeing financial markets and so forth, she she's got a lot of power. So this is what I've been saying for a long time, that it's not so much Biden. I don't think Biden never said anything about crypto. It was Elizabeth Warren pulling the strings and Biden was listening

to her. So we'll see what Kamala Harris decides to do. Now. The good thing is the crypto industry and advocacy groups are going out and trying to get people to understand crypto better. They're doing education and much more. Cody Carbone of the Digital Chamber highlighted what the Digital Chamber did recently.

They said today we are proud to join the Crypto Market Integrity Coalitions letter to the President of the United States and the Vice President, urging the ADMIN to move forward with a comprehensive digital asset regulatory framework to protect consumers, promote the US dollar, and support American competitiveness. So this is great, This is what you need to do. And I love that these groups exist and they're teaming up, the Chamber teaming up with the Crypto Market Integrity Coalition

here to send this letter. And we got to keep working, folks. We've got to keep calling our representatives, keep using social media to your advantage, keep highlighting the lies and failures of Gary Ginser and Elizabeth Warren as well, and look, support people who are pro crypto. Now, obviously, I know elections are much more than crypto, and for some of you, crypto is a single issue that your main number one issue,

but for other people's different things. But I think you got to keep this in mind because it's not just about investments, but it's also jobs, Like why are you trying to stifle this innovation? And I think we know the answer, right The incumbents are getting disrupted that's pretty much what's happening. Because this is just a technology. It shouldn't be a political issue. The person who made it a political issue is Elizabeth Warren, so we definitely got

to vote John Deaton and get Warren out of there. Folks, all right, everybody, that's the news. Pretty great news around Ripple and XRP of course, and guys, in my book, Rethinking Crypto, I documented I put a whole chapter together about the SEC versus Ripple and the overreach and the hurt they cause on XRP holders, but also the fight the XRP holders came back with with John Deaton and using social media and much more. So. Grab a copy

to support the podcast. Grab a couple copies for your friends and family who want to learn about this technology. It's available in digital as well as paperback. If you bought a copy already, please leave a rating and review. It will really help my rankings. And also don't forget to sign up for my free email newsletter where I provide news, crypto insights, knowledge and much more. Guys, so thank you for watching and listening. I appreciate you all.

Hit that thumbs up, leave a comment, and much more, and I'll talk to you all later. Ask dost dest discountant

Transcript source: Provided by creator in RSS feed: download file
For the best experience, listen in Metacast app for iOS or Android