IT GOT WORSE… | SEC Signals Appeal Against Ripple

Rubble's lawyers have been very good and I wish them the best of luck because It's going to have a huge impact on the Entire industry if the SEC appeals and Wins that appeal that's going to be a Pretty drastic issue for cryptocurrency United States today I interview founder Of orox Georgie on the breaking news That the SEC is hinting they're about to Appeal the Ripple lawsuit now Georgie Has been working with the SEC for his Own company for over a year now so this Is the man to talk to and before we talk About Ripple before we talk about xrp And crypto what exactly is warrox is an Ecosystem of products such as focused on Making trading uh cryptocurrencies Easier we're really focused on the web 3d5 side we have an all-in-one trading Terminal that has both centralized and Decentralized exchanges but we released The web 3D wallets with actually Built-in terminal into the wallets that Makes defy a lot easier to navigate you Can track trade across Um thousands of different assets all at The same time from this built-in Terminal and orox is obviously Global You are based in the US so I really want To pick your brain on what this Ripple SEC verdict means for crypto in the US So could you just explain first off what Happened with ripple Yeah so as far as this case goes

Basically it was kind of a split Decision which kind of made it a little Challenging to see what the SEC and what The judge is really thinking Um basically Ripple was selling uh xrp Tokens to institutions which a lot of Companies out there a lot of crypto Companies have done in order to raise Money develop the products Market the Product Etc and then at the same time There were also selling xrp on Centralized exchanges And the judge ruled that the Institutional sale of Ripple when they Were raising funds or for whatever Reason that part was constituted as a Security transaction so that made Ripple During that specific transaction it made Ripple a security however the selling And trading of Ripple on centralized Exchanges was not considered trading of Securities and that's why we saw you Know coinbase uh thing Kraken and Variety of other exchanges we list Ripple because for the time being I gave Um kind of the go ahead in a way for These exchanges to start listing almost Any cryptocurrency asset and why is Selling to institutions a security how Does that fit the how we test and Retail Does not yeah so this actually goes back All the way to like the icos boom and And Um for the past like five years

Um when these companies were raising Funds one of the requirements to meet The Howie test is uh pooling of funds And using them to create a product Um and of course making it seem like the The the cryptocurrency would appreciate In value so when they were selling to Institution not only were they pulling The funds all together from these Different institutions to better their Company but they were also selling it To these companies saying that the xrp's Value would go up as adoption grew so Those two me I mean there's nothing There's four yeah there's four um how we Test uh prongs but those two are the Biggest ones that a lot of Cryptocurrency assets might not meet but Xrp was meeting them by selling them to Institutions and marketing the xrp token As a way to gain value from purchasing It early And the headline for all of this in General is that Ripple one the SEC lost So what does this mean in your opinion For crypto in the US So I would say partly SCC one because They did win on the case that's selling Uh xrp to institutions is security and Unfortunately that Flags A lot of cryptocurrency assets out there If you go to the top 100 almost every Single one of those companies uh has Raised funds either directly with a

Token sale or as an IOU so the VCS would Invest in them they the company would Say okay we're going to create a token Two years from now and you're going to Get an allocation it's kind of the same Thing so on that part the SEC one but on The other part which I think is more Important is the programmatic sales uh Sales on exchanges and decentralized Exchanges etc those that's where xrp Really won because now based on the Ruling at least as it holds xrp can Continue functioning as both the company And the token uh without any regulatory Issues and that's a huge win on its own It does change things for companies that Are trying to raise funds because now You can't raise funds with a token like It's I mean you can but the SEC is Always going to come after you for it so That's how it affects the businesses Potentially raising Capital that are the Entrepreneurs for average people like me That maybe just you know I don't hold Any xrp but you know buy these tokens Just on the open market does that does Anything change for us going forward No um especially not for rocks nothing Changes because we're really focused on Programmatic uh transactions uh Specifically in the dd5 sites so as long As the token's not raising you know Pre-sale or at least in the United States pre-sale or Ico or private sale

Those type of transactions then based on This ruling as it stands right now That token's not going to be counted as A security however Um just recently you know this SEC is Planning on appealing that decision and It's probably going to have become even More complex as things move along So let's go into that because some People are shocked but other people this Is just part of the court system if you Get a ruling you can appeal so how What's the likelihood that the SEC wins An appeal I mean to be honest the fact that it was A split decision it I'm actually shocked That uh the judge ruled it as a split Decision like that because Now the SEC has something to leverage And It's just there's just not a lot of Clarity and another judge could overrule It very easily because they already said Xrp was a security in this instance so Now they just have to fight that one Other item the programmatic sales and it Clears up their Their challenges significantly so I'm Not really sure what's going to happen But xrp's role ripples lawyers have been Very good and I wish them the best of Luck because it's going to have a huge Impact on the entire industry if they Appeal and lose their if the SEC appeals

And wins that appeal that's going to be A pretty drastic issue for Cryptocurrency United States So if the SEC appeals and wins does that Set us back to just base layer Ground Zero or does that set the bad precedent Oh instead of the win now or the total Opposite way with the new precedent Yeah it would be a complete uh I mean it Would just completely destroy uh some Functions of cryptocurrency exchanges Would have to potentially register as Security exchanges Um it becomes I mean the cryptocurrency As we know it would significantly change Um I think Bitcoin because the SEC has Already come out and stated Bitcoin is Not a security would remain but a lot of The other tokens I would imagine Probably 90 plus would start to have uh Regulatory issues especially in the United States So what are you looking out for going Forward in the US for crypto Um the new law that that's now going Through Congress or is planning on going Through Congress that's going to be very Important because it it will start to Provide a little more clarity on Everything and I think that's the Biggest Um item that we need to be focused on The appeal process right now even if They appealing that the SEC appeals

Until they actually win judgment it's Not going to change it's not like you Know appeal and then it changes the Previous rolling now the rolling stains Until you win the appeal and that could Take years I mean the Ripple ruling took What three four years now over three Years I think yeah so I think the I think the the law that's potentially Being passed by Congress is uh or is at Least going through Congress whether it Gets passed or not we'll see but I think That's going to have a faster track than The actual appeal process Um so I think that's going to be a lot More important than the Ripple case Um at least the ruble appeal in the same Month the Ripple won against the SEC we Saw BlackRock Citadel Fidelity all in Their own way you know aggressively get Into Bitcoin and the digital asset space In general how big a deal is that Um it's huge um those um was Bitcoin uh ETFs are gonna probably change a lot in The space and this is kind of what I Mean we're Traders me and my partner Were Traders by uh that's why we created The platform war dogs This is the time that you will start to See those things every time there's a Bear Market you will start to see bigger Players come in because that's when they Want to get in that's when they want to Establish themselves they're not going

To come in when you know the charts like This and everyone's funneling in that's Just not what they do Um so people that have been worried About cryptocurrency for the past so It's been about a year now maybe a Little more Um they were yeah it sucks when your Portfolio is down but at the same time This is really the time when we start to See that huge demand from bigger players Come in and we see that next bowl and Start to be established It seems inevitable almost that These the true decentralized protocols Will win bitcoin's the safest obviously For those institutions but because They're not going away like if they Don't make it in the U.S they're not Stopping we're still seeing the user Growth Yep exactly I mean we've seen user Growth on our platform Um there's still users out there and That's the the biggest thing as long as They're users The regulatory stuff people can figure Out there's a lot of big companies that Are fighting a good cause Ripple Coinbase Etc they're fighting to Um establish some sort of clarity Um and we're gonna the industry itself Is gonna be fine as long as there are

Users there's no users then there's Nothing worth fighting for So orox is a decentralized non-custodial Crypto wallet also a trading terminal Why would somebody choose aurox versus The other D5 wallets out there Um so we have a lot of focus on security Um security and user experience are the Top items that we focus on so we have Simulation transactions and smart Contract monitoring anti-fishing all These things that try to protect the User just recently for example the unit Swap Founders Twitter was hacked uh Probably by Sim swapping or something Else and posted a link that drained People's wallets and that has been an Ongoing issue for I don't even know Two three years now at least And there's a very easy solution and we Created it and we wanted our own wallet To protect user response the last thing You want is Someone's hard-earned cryptocurrencies Falling in the hands of someone else That's gonna just dump it convert it Into a stable coin and then go buy a Brand new car or something that we'd see Constantly so we've spent a lot of focus On that and then on the user experience Side we made it a lot easier for users To see their portfolio to execute Transactions for example the built-in Terminal it feels like a centralized

Service you click a button an order is Placed there's no confirmations and Weird transaction hashes and all that Stuff it's just a simple one-click Process And with this uniswap founder Sim swap Wallet hack example orocs potentially Would help in two ways number one it Would warn Hayden Adams before he clicks On a fishy link but also for the user it Would show the user that there's a fishy Behavior as well Yeah so on the user side basically when They link up their wallets it'll display Information about the domain so it'll Tell you if the domain was recently Registered which in almost every uh hack It's the case it will also tell the user If the smart contract is open source or Not or if it's on our Blacklist or if It's a while listed contract and then Also when they that they get past those Steps and they try to actually execute The transaction it will tell the user What that smart contract is doing with Their wallet so in case with uh Hayden It basically when you clicked on that Link and try to execute the transaction It would show negative whatever eth that Was being taken out of your wallet which Was not what the the application was Saying it was going to do As far as on the Hayden side it I mean I Think he got some swap but if he did get

Hacked in some other way our wallet if It linked it up to the decentralized Application would do the same thing but It doesn't really focus on Um like Twitter phishing I guess Directly When Ripple won the case against the SEC How happy was the oroch's office what Was the conversation it was it was Pretty I mean it was pretty good for us Um I think last time we talked about you Know Rox is planning on going public Um and one of the obviously one of the Issues the same issues that exchanges Have is determining whether something is A security or not now we personally Don't list the assets but we do tap into These exchanges and the SEC might have Problems uh at least based on the Comments that were received they do have Issues with you know how are you uh Protecting the user from Securities if a Certain token is a security what do you Have to like what are you going to do to Stop that user from being able to trade It Um and this ruling made it so well Tokens aren't Securities if they're Programmatically traded so that means That even our platform even though it Connects to exchanges We don't have to do anything because Those tokens are not Securities based on The scrolling at this current time

And when you say programmatically traded Is that mean smart contract Automatically traded a smart contract Centralized exchanges any type of uh I Guess uh Non-otc type of transaction if I were to Sell you tokens that would be considered A security but if you signed up on Binance or coinbase and then I signed up And we somehow managed to be the Counterparty of each other that's not a Security because it's programmatically Traded You don't have to I know you're under Strict rules Um with the with the SEC you're doing Everything very compliant but my Question to you is when are you going to Go public what's the timeline planning On going public yeah uh we've been Working on it for a while now I think we Still have um like right now we're going Through the process of the comment Letters and everything else with the SEC Uh we're hoping that we can get through It over the next few months Um and once that happens I think we're Gonna Hopefully bring a lot more transparency Into the crypto space and it'll allow us To kind of Leverage our uh publicity in A way not just the company being public But the publicity that comes along with That to bring a lot more trust that this

Industry is really missing after the FTX Issue I think it'll be huge for PR only Because like You guys are not custodial D5 the Products in themselves are defy but the Amount of credibility or you know at Least safety that you know a potentially Publicly listed company that's huge in Crypto and we haven't really seen a lot Of those Yeah we just have uh coinbase is the Only I mean there's a lot of uh Bitcoin Mining companies that are public but Coinbase is the only one that's has to Do with you know transactions and Exchanges but they're they're starting To focus a little more on the D5 side Recently but obviously everyone knows Coinbase is a centralized exchange and Being solely focused on D5 for us would Be uh Um the first uh really focused D5 Company to go public and I think that's Going to bring a lot more Um public opinion towards the Decentralized side rather than just the Centralized Georgie what haven't we mentioned on This Ripple case and how it relates to Oryx Um I think we kind of covered everything I think it's a I mean we'll see what They do here with this appeal because it Literally just happened

Um and it's uh it's going to be Interesting on how they tackle it they Do have I mean it's the SEC so they have A lot of resources and they do have Um a lot of things that they can pull to Get their way Um but you know ripples attorneys are Pretty competent but as I mentioned I Think the biggest thing is going to be Whether or not this uh new laws that are Being proposed are going to go through Congress uh Um because I think that's going to Happen a lot quicker than the appeal Decision on Ripple's case I want to have you back on in one or two Months revisit some of these talking Points links for orox down below as well As your personal Twitter Um final thoughts for the old coin daily Army Um I think that's it I think everyone Needs to keep in touch with the the new Proposed laws that are going through Congress I think that's going to be the Biggest uh thing that's going to come Out hopefully it gets approved but we'll

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