many people have been startled by the securities and exchange commission sec chair gary gensler's anti-cryptocurrency crusade why aren't more people aware of the sec versus ripple case and why it could lead to a significant price increase stay tuned to find out but first we are giving away 500 at the end of the month to one random subscriber to start on their xrp journey all you need to do is to like in the video subscribe and comment your thoughts on xrp in the comment section hey guys have you ever heard about stable pool if you own xrp and are interested in making constant money on exchanges like one inch uniswap and co then this website is perfect for you after having to sign up to the site with your email you can simply go to top up and select the currency and the amount of it that you want to deposit on the site now go to open defy staking or add liquidity in liquidity pool the site shows you how much of that amount you'll earn as interest within 12 hours usually around 0.1 to 0.2 percent within one year you'll have made 2x without any risk which helped the site receive more than 80 million dollars within the first week and the best part if you sign up until october 31st th you'll receive 50 in a random cryptocurrency for free welcome back xrp army let's grow the xrp lab community by pressing the like button and subscribe gary gensler is the current chairman of the securities and exchange commission and he sits on a throne erected with money from geoffrey epstein and wall street gensler unlike jay clayton had extensive government experience before being appointed to the sec he worked in clinton's treasury department from 1999 to 2001 holding high-level roles he was the chair of the commodity futures trading commission from 2009 until 2014.
cftc gensler like jay clayton has extensive ties to wall street he joined goldman sachs immediately out of college and at the age of 30 became one of the firm's youngest partners his 2021 federal financial filings have been released and they suggest that he is now valued between 50 and 100 million dollars furthermore while serving as the head of the country's most powerful financial regulatory body gensler confesses that he is still on goldman sachs payroll during his time in government bill hinman received 15 million dollars from simpson thacker gary gensler continues to receive funds from goldman sachs prior to joining the sec gensler worked in academia teaching at mit sloan school of management and acting as the senior advisor to the mit media lab digital currency initiative when examining gensler's perspective on cryptocurrencies the origin of his own income and his ethics through association his time and actions in both of these professions raised numerous red flags gensler frequently claimed that xrp was a bank currency not a security while teaching about cryptocurrencies at the sloan school of management xrp and the ripple network might still exist even if ripple the corporation collapsed he said in a research article these remarks are diametrically opposed to those he has made on the matter since being nominated to the sec raising the obvious question of why the change what's even more fascinating about his mit researchers who he collaborated with and who sponsored it joy ito gensler's close associate and friend in the lab was once called by gensler as one of the world's most successful entrepreneurs jeffrey epstein is also a close friend of itos he was so close to epstein that he took many journeys to jeffrey epstein's island on the lolita express and he was able to persuade epstein to support gensler's lab with a 525 000 payment this was followed by a whopping 1.2 million dollars payment to gensler's lab also from epstein allowing him to operate as the lab's de facto advisor epstein also acted as a go-between for gensler's lab and other affluent contributors raising more than 7.5 million dollars from individuals and organizations such as bill gates and jay clayton's good friend leon black even after mit declared epstein disqualified the lab continued to collect gifts from him consulted him about the use of the funds and avoided identifying his contributions by classifying them as anonymous ido said at the mit bitcoin expo in 2015 that the media lab's crypto program came together because we don't even know who's in control and he wanted mit to take over edo's perspective was definitely bitcoin maximalist stating that the biggest risk to bitcoin is the community's architecture failing and the need to select which assets other than bitcoin would be in or out are all coins part of it how about ripple edo inquired ledger a startup that was developing a speedier more environmentally friendly consensus system to compete with bitcoin's slow fossil fuel-intensive proof-of-work process ito used progressive buzzwords and pers to advocate for wall street's preferred regulatory model community architecture open networks and a regulatory incubator that put altcoins like ripple behind bitcoin for the lab gensler was the ideal front man according to the new york post's charles gasparino gensler moved rapidly after joining the sec requesting a meeting with then-chairman jay clayton in march 2018.
The sec was considering declaring the three most popular cryptocurrencies bitcoin ether and xrp to be unregistered securities and liable to costly enforcement actions after a flurry of enforcement actions against crypto frauds and scam coins during 2017. according to gasparino gensler supported for bitcoin to be treated as a real crypto while ether and xrp were evading securities regulations trading as non-registered securities without sec monitoring he told the new york times a few weeks later that there is a good argument for both of them they are non-compliant securities particularly ripple ido's apparent enthusiasm to pick a winner cryptocurrency and gensler's zeal to be a top regulator were a match made in heaven neither appeared to care as much about establishing clear consistent norms that could be applied across the board as they did about establishing rules that were best for them gensler and ito used the howie test from a 1946 supreme court ruling that provided a procedure for identifying securities but never considered the intricacies of blockchains and ledgers in their june 2018 presentation gensler also proposed the duck test which states that if anything quacks walks and appears to be a security it is however according to gensler and ito ducks can transform into giraffes if they are sufficiently decentralized a concept not considered in howie but enthusiastically promoted by ethereum to its sec pals at the time gensler and ito also presented a self-contradictory regulatory indictment of bitcoin rival xrp claiming that it is an investment contract in ripple the company but admitting that the xrp token and ledger would continue to function independently if ripple went away all of these exclusions appear to be motivated by the desire to turn the lack of regulatory clarity into a rorschach test for handy self-serving hypotheses it allows ito to claim that all coins should be kept out of the community architecture while ethereum is given regulatory clearance gensler gets to rule over the regulatory arena while enhancing his party's credentials with spectacular enforcement operations that propel him to his next position as treasury secretary however not everything at mit is perfect while gensler is untouchable ido has been blamed for discoveries that the mit lab was partially funded by geoffrey epstein and leon black furthermore investors are protesting against the securities and exchange commission clayton filed a 1.3 billion enforcement lawsuit against ripple on his last day in office in 2020 arguing that xrp has been unregistered security since 2013 and that everyone should have known over 50 000 enraged xrp investors have launched a class action complaint alleging that the agency ruined their investments let's see how xrp is doing on the 30th the xrp's price is on the mend as we head into the weekend having extended its three-day recovery from four-week lows of 0.9543 despite the general downturn in the crypto market ripple bulls remain optimistic as the number three coins fundamental news continues to sustain the uptrend sbi holdings inc a japanese online financial firm stated that it employs xrp as a bridge currency for international remittances to the philippines in partnership with sbivc trade and sbi ripple asia which is one of the promising causes according to fx street's crypto editor ekta moriah analysts forecast a 324 percent increase for xrp price based on ripple's latest collaborations and proceedings in sec vs ripple case xrp price has reclaimed all of the main daily moving averages dma on its way to recovery from monthly low and is now poised to challenge the last important resistance level to extend the bullish turnaround the above mentioned barrier is the 1.1415 falling trendline resistance which must be broken on a daily basis to confirm an upside breakout from the month-long falling wedge formation the bullish technical breakout will pave the way for a new surge towards the 1.4075 pattern goal bulls and xrp will find heavy resistance near the 1.2291 highs set in october the 1.30 round amount will be used further up the 14-day relative strength index rsi is moving higher within positive territory implying that the price of xrp has room to rise further a rejection at the falling trendline resistance on the other hand might reawaken the selling sending the xrp price down to test the 21 dma's resistance turn support at one dollar and 10 cents the horizontal 5 0 dma of 1.0567 is expected to provide the next substantial support bears may test the bids around 1.0250 where the 100 and 200 day moving averages are hovering if the xrp price continues to fall sellers will look for new entry below the ladder initiating a new sell-off into multi-week lows with the next cap seen at 0.9472 which is the falling trendline support do you invest in xrp if you want to continue to know about xrp we have got two more videos waiting for you on the end screen to check out make sure to subscribe and give us a thumbs up thank you so much for watching see you in the next video before heading out kindly note that prices of cryptocurrencies frequently change so by the time you watch this video it might have changed to a whole new value the information provided in this video does not constitute investment advice financial advice trading advice or any other sort of advice and you should not treat any of the content as such the content in this video is for educational purposes only and hence should not be considered as financial advice do conduct your own due diligence and consult your financial advisor before making any investment decisions [Music] you
