Ripple (XRPUSD)

[Alpha611]

It's a win win for security and this is why I still like the price.
Being that I strongly believe they not only disagree with the courts.
But are also HEAVELY INVESTED into XRP it's self. JMHO.

[Alpha611]

Still like her for the price. But the more they pump this bitch!
The happier I am I left her. GL

[W3Research]

$XRPUSD and Shiba Inu Coin More Huge Legal News! Cheers!

Judge scolds SEC for apparent deception in crypto case, threatens to sanction agency.

The SEC is suing crypto firm DEBT Box for allegedly defrauding investors out of nearly $50 million.

BY 

LEO SCHWARTZ 

 AND  

JEFF JOHN ROBERTS

December 01, 2023 4:47 PM EST

SEC Chair Gary Gensler has engaged in an aggressive campaign of enforcement actions against crypto firms. Tom Williams—Getty Images

A federal judge has rebuked the Securities and Exchange Commission over its treatment of a crypto firm, expressing concern the agency had made “materially false and misleading representations” in order to freeze millions of dollars in assets belonging to the project.

The case, filed in Utah federal court, concerns a firm called Digital Licensing Inc., or DEBT Box. In its complaint, filed this summer, the SEC alleged the project had defrauded investors out of nearly $50 million by selling unregistered securities called “node licenses.”

As part of the initial process, the SEC successfully obtained a temporary restraining order and asset seizure through a so-called ex parte application—meaning the crypto firm was not informed of the proceedings and was not able to challenge them in court at the time.

These types of one-sided proceedings are uncommon and typically take place when a government agency fears that notifying the defendant will result in their destroying evidence or whisking assets overseas. Meanwhile, a temporary restraining order requires a party to show a high likelihood of “irreparable harm”—a high bar to clear.

?

In his Thursday order, U.S. District Judge Robert Shelby explained he had agreed to grant the SEC’s request because the agency’s lawyer, Michael Welsh, had said the crypto company was actively closing bank accounts—including 33 in the last 48 hours—as part of a bid to move the firm to Abu Dhabi and beyond the reach of U.S. regulators.

This turned out to be untrue, however. In his order, Shelby argued that some of the SEC’s arguments were “entirely without merit and misstate the record.” He wrote that subsequent legal proceedings revealed that no bank accounts had been closed during the 48-hour window and that the company had already transferred much of its operations months before. He also found that it was banks, not the company, that had closed certain accounts and that one alleged overseas transfer of $720,000 the SEC had used to justify the ex parte seizure had actually been a domestic transfer.

Shelby wrote that he was “troubled” by the SEC attorney’s misrepresentation of the account closures because there was another attorney on-screen, as well as two investigative staffers off-screen, who did not clarify or correct the attorney’s statement, nor was it addressed in later filings.

The judge also argued that the SEC has accused the crypto company of blocking investigators from viewing its social media sites, saying the agency had not shown any evidence to suggest the firm had even known about any investigation.

Given all this, Shelby concluded that the SEC had possibly deceived the court in its description of the facts used to justify the earlier orders.

“The court is concerned the Commission made materially false and misleading representations that violated Rule 11(b) and undermined the integrity of the proceedings,” wrote Shelby, citing a federal court rule that says written facts submitted to a judge must be supported by evidence.

SEC faces sanctions

The document issued by Shelby came in the form of a “show cause order”—a request that in this case demands the SEC provide reasons why the Utah court should not punish the agency for its behavior. While such orders are not uncommon, they are typically directed at private parties and very rarely at government agencies.

The order on Thursday concludes with a list of questions asking the SEC to respond to specific examples of apparent falsehoods, including the agency’s claims made about the closed bank accounts and the social media blocking.

While the tone of Shelby’s order is restrained, the judge appears to have been angered by the fact that the SEC submitted the apparent misstatements in an ex parte context and for a temporary restraining order—legal processes that courts are mostly reluctant to grant as they deprive defendants of due process. In his filing, the judge states that he is “concerned” the SEC “undermined the integrity of the proceedings.”

The federal rule cited by Shelby doesn’t provide specific sanctions for given violations but rather proposes a range of measures from a financial penalty to a directive that “suffices to deter repetition of the conduct.”

End Of Line.

[Vulcanized Crawler]

yt is pumping the crappola outta xrp...
i like xrp, but, with all the big pumping going on makes me suspicious to the max. sec n' xrp may finalize all n' everything today. hope so. im not fond of government unelected hasbeens screwing up what creative minds and establishment criminals have wrought. survival of the fit ...aint that the way? i's got more an bigger guns aimed at you than you at me. as the judge said to both sides in the case ...'' may the best lawyer win''.

[ap17]

Correct, and youtube has new clickbaits uploaded hourly touting 4 figure and up prices for XRP. If I had 1/2 cent for each youtube, I'd be rich.

[Alpha611]

This token has more predictions & news then it's actual movements! lol

[ap17]

Almost as bad as that .48 short...........ALMOST.
Better listen to Hibbs more often.

[Brokemillwright]

But but but...... Moonboyies posted 🚀🚀🚀🚀🚀. Guess they spent on their money and couldn't afford da fuel

[dshade]

Adding all the X's

[ap17]

Exactly, and he's been wrong WAY more than right on multiple crypto boards. Mostly acting as a "Short Schill"

[qualityincolor]

I'm LONG... i've stated it from the beginning, so updating you with declines is completely irrelevant. I've been in since .26 cents and plan to never sell. I will borrow against my crypto to buy other assets. Flip, short, buy, swing, do whatever, doesn't matter to me. You pointed out, no one is right all the time, but so far, I've been right about my approach being long. ✌️

[Brokemillwright]

I've never claimed to be right every time. Nobody can call every top or bottom, market will do what it'll do. It has hit it's head on rejection and is rolling over. Wasn't this headed to to moon? Can't the same be said for the pumpers being constantly wrong and being mods on the boards deleting messages in a last ditch effort to try controlling sentiment lol. Those big soft rolls with HURT longs. Keep us updated with your declines please

[qualityincolor]

You've been wrong how many times? 😄 🤣 Why even say anything price related?
I'm here long term regardless. ✌️

[Brokemillwright]

Vechain was doing that around .07, if it's anything simialr-Timber!!!!!!!! Dang look at that roll over on the one and 3 month chart

[Alpha611]

Reviewing who is still here & a reminder to Never come back. lol Investment wise!
Nahh, Just kidding. If by some small chance the price is right I may come back a small percentage.
Still think there is money to be made here just not as much. Wanted a better or safer investment until after the Holidays. Still Don't trust Security or CB with another halt. New laws will be set some time after the 1st of the year. Not sure when.
Don't want to tied up or risk what I have. / GL

[qualityincolor]

Not sure, but it moved up so incredibly fast without a ton of buying. Your probably right.

[Sonic Boom]

I just noticed that. What do you make of that price movement? I suspect someone moved some money thru the ledger.

[qualityincolor]

We just shot up to almost .65 then right back down. Crazy activity today.

[Sonic Boom]

If you left, then why are you still here? Congratulations on taking profit.

[Sonic Boom]

Ouch indeed, infinite risk shorting $XRP. This IS the banker's crypto currency.

[nowwhat2]

XRPUSD !.......GO U.S.A. Go !

[ap17]

LMFAO, like the short @ .48 you called?? OUCH OUCH!

[Brokemillwright]

Is it a bird??? Is it a plane???? Nope it's XRP doing a monster rollover and getting ready to T bag you just like sunshine bio did! Are you really that dense and can't grasp people pump junk to make a buck and leave you holding the bag? Lol

[ap17]

Youtube is FILLED with moonshot clickbait. Moonlambo the biggest offender. Don't even bother with them. Just set it and forget it.

[Alpha611]

??? 61,000 PERCENT! The more news I see the happier I am I left.
UNNNNNNN REAL! Good luck to all.

[Alpha611]

Don't agree with everything you say ACCEPT the pumping part. lol
BUT! One JP Morgan secretly buys in to XRP. That pumping can hurt after a while. Best of luck my friend.

[Alpha611]

Time to move.
Wishing all the best. Though I still believe we have a great one here.
I've done my time and setting up for the New year. Held a large amount of XRP from mid 2019 average cost $0.22.
Sold all just weeks before the halt then decided to jump back in just before the clock ran out.
Jumped back in @ 0.23 when all panic. Held for 3yrs added more after the lift and then some.
Made enough to try my luck with others. So claiming my gains as I spread my wealth to the Chain gang!
Best of luck to all and Happy Holidays!

[Sonic Boom]

Excellent suggestion as they remain incoherent. Nice and steady indeed as I'm only here to share my enthusiasm 😀

[trunkmonk]

Everyone pumping, that’s only great thing happening. Schmucks.

[Nosnibor]

IMO XRP is set to do great and XLM is set to do good too. Why is your personality so rife with Wankerism? You are a true knob-head, son.

[BoilerRoom]

$HBAR Bro we were both wrong just found out FEDNOW is using HBAR not XRP or XLM.

[qualityincolor]

Ignoring the toddlers makes life in XRP so much nicer 😉. XRP nice n steady

[trunkmonk]

take some english comp courses, get a job, then get back to me.

[Sonic Boom]

Reread that response and let me know if it still makes sense, I have no idea what that means. It's incoherent, kind of like a toddler having a temper tantrum.

[trunkmonk]

Please make the connection to childlike cheerleading like it’s a stock and not a transaction tool?

[Sonic Boom]

I didn't realize that the Canadian Imperial Bank of Commerce were "Carpetbaggers". i was under the impression that they were part of the part of the growing XRP base that includes Central Bank Digital Currencies (CBDCs) and is currently serving hundreds of customers in over 55 countries, in 6 continents with payout capabilities in more than 70 markets.

[trunkmonk]

really, cmon man, thats a start lol. think about this, everyone who buys crypto since its inception was through a fiat other than crypto itself. even today, almost everything crypto would fail into dust if suckers were not putting more DOLLARS into it. the collapse is gonna be huge, almost nobody understands anything anymore in the markets.

[BoilerRoom]

Trunkmonkey is mad because he loaded XLM instead of the chosen XRP. $XRP for the win!

[DREAMTRADER]

Think about that statement, basically the dollar is backed by more dollars...
Just saying.

[trunkmonk]

accept the dollar is backed by the Fed and treasury, Ripple is backed by nothing but carpetbaggers.

[WolfOfGrnStreet]

Just like the dollar!

[dshade]

FUD over AMM and XRP becoming a stablecoin. Erroneous theory.

[abrois]

dropping like a stone

[Alpha611]

Thanks buddy!

[WolfOfGrnStreet]

Nice!

[Vulcanized Crawler]

In 2011, Jed McCaleb began developing the source code of a token called XRP, which joined forces with the payments startup Ripple in 2012. After McCaleb left Ripple, he founded the Stellar Development Foundation in 2014. Unlike Ripple, a for-profit company, McCaleb created Stellar as a nonprofit. Stellar (XLM) and Ripple (XRP) share similarities because they were both created by the same person, Jed McCaleb. XRP's most pivotal price movements, including its peaks and lows, have been replicated by XLM over the years.

[Alpha611]

lol...Not sure what your saying but thanks for the update any way. Have a good one.

[Vulcanized Crawler]

XRP und XLM sind Geschwister...
Wohin geht Bruder, Schwester folgt ihm
(xrp and xlm are siblings...
where goes brother, sister follows)

[Alpha611]

lol... She did.

[Alpha611]

lol...They still do.