1/ After a good night's sleep, I have a few thoughts on the impending Ripple lawsuit.

Less schadenfreude, more "what now?" https://t.co/a0oTwblBHB

2/ First of all, the USG is going to lose.

I don't even need to read the complaint. They might force a settlement, but they're outclassed on legal.

Remember Ripple engaged former SEC Chair Mary Jo White in a civil matter in 2018. A hint of their $$$.

https://t.co/MsA9X58lAx
3/ Second, the USG should lose.

The SEC restrictions on non-accredited investors; the ridiculous Howey test; 80 year old securities law like the "40 Act" all need to die in fire. They are un-American and completely outdated.

I hope Ripple wins. (WUT?)
4/ Third, it's incumbent upon industry to self-police and hold the moral high ground.

I give certain individuals A's and others F's, but as a whole, the most powerful people and companies generally take a Swiss neutrality stance on assets.

So we're effectively in this together.
5/ We're "in this together" to draw lines of regulatory demarcation.

XRP as a "security" further hurts the U.S. businesses while global comps will continue to make these markets.

XRP as a security also means other assets will meet the same fate. At least Ripple has $ to fight.
6/ Ultimately, the USG won't kill a domestic golden goose.

The US will soon be "on the take" as well. Fine Ripple, extract. Tax future Ripple XRP sales, extract. Keep Ripple funding California!

Ripple will settle and get more aggressive in marketing.
7/ Fifth, the Howey test is broken; Ripple can set new precedents.

Ripple has credible claims XRP is being used as a bridge asset today. Sure, the *primary* use is funding Ripple, but ODL IS gaining steam, if for no other reason than it's being foie gras'd to equity partners.

More from Law

Hot take: Courts might be able to review the legality of this impeachment, even under current political-question doctrine. Here’s why and how the issue might arise:


Suppose Senate convicts and disqualifies Trump from ever holding federal office. Trump files paperwork to run anyway, but state officials deny his application, citing his Senate impeachment judgment. Trump sues, arguing that the judgment is void.

Normally a legal dispute about a prospective candidates eligibility to run would certainly present a justiciable case or controversy. But are courts bound to accept the Senate impeachment judgment as valid? Maybe not. Here’s why:

According to Article I, “The Senate shall have the sole Power to try all Impeachments.” This is a small amount of judicial power vested in Congress. When trying impeachments, the Senate sits as a court.

The Senate’s judicial power includes the power to decide relevant legal questions that arise, such as what procedures are sufficient to constitute a “trial” w/in the Constitution’s meaning. Such legal determinations are conclusive, as SCOTUS held in Nixon v. United States (1993).

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प्राचीन काल में गाधि नामक एक राजा थे।उनकी सत्यवती नाम की एक पुत्री थी।राजा गाधि ने अपनी पुत्री का विवाह महर्षि भृगु के पुत्र से करवा दिया।महर्षि भृगु इस विवाह से बहुत प्रसन्न हुए और उन्होने अपनी पुत्रवधु को आशीर्वाद देकर उसे कोई भी वर मांगने को कहा।


सत्यवती ने महर्षि भृगु से अपने तथा अपनी माता के लिए पुत्र का वरदान मांगा।ये जानकर महर्षि भृगु ने यज्ञ किया और तत्पश्चात सत्यवती और उसकी माता को अलग-अलग प्रकार के दो चरू (यज्ञ के लिए पकाया हुआ अन्न) दिए और कहा कि ऋतु स्नान के बाद तुम्हारी माता पुत्र की इच्छा लेकर पीपल का आलिंगन...

...करें और तुम भी पुत्र की इच्छा लेकर गूलर वृक्ष का आलिंगन करना। आलिंगन करने के बाद चरू का सेवन करना, इससे तुम दोनो को पुत्र प्राप्ति होगी।परंतु मां बेटी के चरू आपस में बदल जाते हैं और ये महर्षि भृगु अपनी दिव्य दृष्टि से देख लेते हैं।

भृगु ऋषि सत्यवती से कहते हैं,"पुत्री तुम्हारा और तुम्हारी माता ने एक दुसरे के चरू खा लिए हैं।इस कारण तुम्हारा पुत्र ब्राह्मण होते हुए भी क्षत्रिय सा आचरण करेगा और तुम्हारी माता का पुत्र क्षत्रिय होकर भी ब्राह्मण सा आचरण करेगा।"
इस पर सत्यवती ने भृगु ऋषि से बड़ी विनती की।


सत्यवती ने कहा,"मुझे आशीर्वाद दें कि मेरा पुत्र ब्राह्मण सा ही आचरण करे।"तब महर्षि ने उसे ये आशीर्वाद दे दिया कि उसका पुत्र ब्राह्मण सा ही आचरण करेगा किन्तु उसका पौत्र क्षत्रियों सा व्यवहार करेगा। सत्यवती का एक पुत्र हुआ जिसका नाम जम्दाग्नि था जो सप्त ऋषियों में से एक हैं।