Originally aired on October 4, 2023
Wendy O discusses the latest developments around Ripple’s legal battle with the SEC. She talks about Judge Torres rejecting the SEC’s appeal, giving regulatory clarity that XRP is not a security when sold on secondary markets. Wendy argues this is a massive loss for the SEC and will set precedent for other crypto projects fighting securities regulation.
She covers Coinbase also battling the SEC in court over crypto assets being improperly labeled securities. Wendy suggests the SEC’s behavior is damaging innovation and the economy.
The host argues mainstream media is falsely tying crypto to the FTX collapse, using Sam Bankman-Fried as a scapegoat. She believes SBF and politicians wanted to overly regulate crypto.
Wendy touches on rumors of Bitcoin ETF approval, and warns of central bank efforts to track crypto transactions. She expresses frustration over US debt levels.
The episode concludes with Wendy reacting to House Speaker McCarthy’s historic removal, and regulatory implications.
What major loss did the SEC suffer regarding Ripple?
- Judge Torres rejected the SEC’s appeal of her previous ruling
- The judge found XRP is not a security when sold on secondary markets
- This gives regulatory clarity to Ripple and will set precedent
How is the SEC also overreaching with Coinbase?
- The SEC sued Coinbase, claiming certain listed assets are securities
- But the SEC failed to provide clear guidance on what is a security
- Wendy argues this stifles innovation and hurts the crypto economy
How is crypto being unfairly tied to FTX?
- Mainstream media blames the FTX collapse on crypto
- But Wendy argues SBF does not represent the entire crypto industry
- She believes SBF wanted to overly regulate crypto
What is predicted for Bitcoin ETF approval?
- The SEC is meeting with applicants about spot Bitcoin ETFs
- Approval is expected, potentially in 2024
- This would be positive for Bitcoin adoption
Why is Wendy frustrated with US debt levels?
- The national debt rose by $275 billion in one day
- It recently surpassed $33 trillion and is rising quickly
- Wendy expresses frustration at lack of fiscal responsibility
00:00 – Intro
05:00 – Crypto development is down
07:15 – The entire crypto market
08:40 – Crypto total market cap analysis
09:30 – XRP price analysis
11:10 – BTC price analysis
13:00 – Huge win for Ripple in SEC case
22:45 – Ripple secures license to operate in Singapore
24:40 – Coinbase secures license to operate in Singapore
26:35 – Coinbase lawsuit update
28:10 – Coinbase to delist 80 trading pairs
29:10 – MSM blames crypto on FTX collapse
35:00 – SBF trial updates & shady connections
41:15 – Central banks build platform to track crypto
42:10 – US debt pump
43:20 – Kevin McCarthy removed as house speaker
48:00 – Altcoin news & final stories