Michael Saylor Warns XRP Holders! (Ripple to ZERO!)

Ripples and unregistered security It's pretty obvious there's a company Right just like ethereum is a Non-registered security yeah I think I Think the best thing for the world would Be with the if the SEC pretty much shut Down all of it Michael Saylor on a Recent episode of the PVD podcast Patrick Bet David podcast as you heard Says the SEC should shut down Ripple for Offering xrp as an unregistered security And if you're asking why according to Sailor Ripple owns the majority of xrp Coins in escrow this is true Ripple owns Over 60 percent and sells them to the General public this has also proven to Be true as Brad garlinghaus has admitted That in the past Ripple has sold xrp on The open market And number three he added that Ripple Does not disclose details about its xrp Holdings because the company has not Gone public this last one I do have to Push back a little bit Ripple does do Quarterly I believe reports on what they Do with their Holdings of course that's Not held to the same standard as if they Were a public company but Ripple has Disclosed some details nonetheless in Fact just so you have all the Information even though you we did just Go over some of this here's the full Clip of Michael Saylor speaking about Xrp Ripple is an unregistered security

It's pretty obvious there's a company The company owns a bunch of it they sell It to the general public but there's no They never took the company public There's no disclosures Right so so the sec's position is you're Selling an unregistered security it's a It's crypto token right just like Ethereum it's a non-registered security It's controlled by a few people in the Ethereum foundation and consensus Ftt just like Salon perfect but here's a Follow-up they're all unregistered Security here's a follow-up on that I Don't own a single Ripple just so we Know so full disclaimer I'm not a ripple Guy but if if both of them are Unregistered why Target Ripple and not Target ethereum the way he is targeting Ripple and by the way this is coming From a guy that owns uh ethereum not Ripple yeah I think I think the best Thing for the world would be with the if The SEC pretty much shut down all of it It's all unethical right I mean the Bitcoin position would be Bitcoin is an ethical commodity all of These other altcoins are unregistered Securities they're all just Equity Tokens issued by a company in order to Get around going public and they're Committing Securities fraud ethereum Included of course especially ethereum And specifically why does Michael Saylor

Say that ethereum's a security isn't Ethereum the most decentralized next Bitcoin if you had to pick a number two Wouldn't eat be the second most Decentralized what's the second best There is no second best well the issue Is ethereum stake in contract as well as The foundation behind it according to Michael Saylor data from the crypto Analytics platform Dune analysis shows That investors have sent over 15 million Ethereum almost 20 billion dollars to The eth 2.0 staking contract and in a Direct quote from sailor he says if a Bank took 20 billion of your assets Froze the window and said you can't have Your money back ever Maybe 2024 but We're not sure we may give you interest On it we may take it all we may slash it That's the definition of a security Right it's an investment of money in a Common Enterprise you know relying upon The efforts of others with an Expectation of profit in fact here is Michael Saylor speaking about ethereum In full even though I did just share With you one part of it listen to the Full context and they're committing Securities fraud ethereum included of Course especially ethereum you know Ethereum's got 20 billion dollars of Each token locked up in the staking Contract right now and there's a couple Of people that may or may not give it

Back to you ever Now isn't that the definition of Investment contract if if a bank took 20 Billion dollars of your assets froze the The window and said you can't have your Money back ever maybe in the year 2024 We're not sure we're just going to keep It we may actually give you interest on It we may take it all we may you know we May slash it That's the definition of a security Right it's an investment of money in a Common Enterprise you know relying upon The efforts of others an expectation of Profit The whole the whole point is if you want A crypto asset to be a commodity you Can't rely upon four Engineers a company A CEO if if a person can make a decision It's not a commodity anymore the fact is Ripple's got a company ethereum's got a Company ethereum Foundation has Engineers you're literally waiting on The engineers that work for the ethereum Foundation to write the code to give you Your money back and then you're also Waiting to find out what the monetary Policy will be They change it half a dozen times in the Last six years it's always changing Why this is significant because let's Remember in one respect Michael Saylor Is just some guy he is not The Regulators he does not represent what

They are actively thinking but why this Matters to you is that Michael Saylor Does represent in many respects the Wall Street institutional mindset right now Huge uncertainty post FTX collapse And these are the conversations Happening right now behind closed doors About crypto so what's the solution in Michael Saylor's eyes these companies After all are not going away these Blockchains eat blockchains even if They're banned in America they're Global Well here's what Michael Saylor believes Should be the solution you know the The Regulators ought to Just be very very clear if you were very Clear you say look You've got like 180 days in order to Register your token with the SEC and you Register and give us all fill out these Forms give us all these facts answer our Questions and we'll tell you whether You're a currency whether or not you're A commodity whether or not your security And whether or not you're allowed to Trade and at the end of the 180 days if You haven't actually registered you're Shut down and nobody can buy and sell And trade this thing anywhere in the World and that that would actually clean Up the industry that is where that clip Cuts off and I will link the full Podcast of Michael Saylor linked down Below check it out but in my opinion

Something like that that 180 day Registry period maybe not to that degree But something like that will happen for Companies in the US but it'll just be Interesting to see which companies Choose to accept that and which Companies just move offshore for me I Think a good solution in all this would Be some clear-cut metrics to decide if The blockchain is truly decentralized Which blockchains are truly Decentralized because if you're truly Decentralized then no you shouldn't have To register like this nor would you be Able to if you're a truly decentralized Blockchain for example Bitcoin is Decentralized in three ways with the Developer Community that's Global with The miners that's Global although that Although that's the argument you could Say the mining does have pockets of Centralization with these mining pools I Get that but Bitcoin is also Decentralized with the nodes with the People if you can prove you're a global Decentralized commodity-like blockchain Then the SEC has no ground to stand on Now this is an ongoing story if you're Interested in staying informed with Daily videos on the crypto Market click Subscribe by the way my name is Austin And as of the last 24 hours Sam bankman Freed says he has hired jalane Maxwell's Lawyer this is Mark S Cohen who helped

Take down El Chapo and recently Represented Maxwell after Reuters first Report of the news the disgrace found Under and former CEO of FTX says that he Had hired Cohen in a live Twitter spaces Interview And when asked how we would pay for this In a live session he replied he didn't Know in terms of paying illegal fees I'm Still working that out I'm not sure if I Will be able to pay all the legal fees Now in my opinion I think he has to say Something like this meaning I think He'll be easily able to pay for the Legal fees he probably has many wallets Not disclosed and he probably was able To withdraw something before the Collapse well what about binance binance Says Bitcoin reserves are collateralized 101 percent according to their new Mazer's audit mazarus concluded that Binance's Bitcoin reserves are fully Collateralized following a proof of Reserves and a proof of liabilities Verification the collateralization ratio Is 101 percent Hey good news for the link Marines chain Link staking now live on the ethereum Mainnet keep in mind this is just the Early Access version 0.1 and this Initial version of the chain link Staking initiative gives interested and Eligible proponents and opportunity to Stake up to 7000 Link in The Limited

Pool so if you want to support the Network earn a little bit of Interest Back you are now able to stake link but Keep in mind that chain link did Disclose the staked linked tokens and Rewards accrued would remain locked Until the team releases staking version 0.2 and when will this be well this next Version is expected to be released in About 9 to 12 months and for those of You who are interested involved with Used to be involved with Celsius Bankrupt crypto lender Celsius to Release 2.8 million dollars in bonuses To prevent staff poaching so I guess Celsius is still a company they still Have employees and they don't want those Employees to get poached now Approximately 170 Celsius employees Remain compared to the around 375 number Of employees at the beginning of the Chapter 11 procedures and in terms of Which employees get the money only Non-executive Personnel who are working To keep Celsius Aloft as the company Strives to emerge from insolvency we'll Receive bonuses the payments will be Less than 75 000 and only individuals With paychecks between 25 000 and 400 and 25 000 will be Considered by the way be sure to grab Your tickets for Bitcoin 2023 next year In Miami use altcoin daily the code Altcoin daily for 10 off and like always

See you tomorrow