The Chopping Block: Should XRP Holders Really Be Rejoicing? - Ep. 519

Unchained

Laura Shin

Tech News, Business News, News

4.6 • 1.3K Ratings

🗓️ 15 July 2023

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week, crypto lawyer Stephen Palley joins an emergency live show to unpack Thursday’s judgment in the Ripple case. Crypto markets are pumping after a judge handed Ripple Labs a partial victory in its fight against the SEC. But is the jubilation warranted? “I can understand why people are happy,” said Palley, a partner at Brown Rudnick LLP. “I’m just a little more cautious on what happens next.” Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: why Judge Analisa Torres ruled that retail sales of XRP do not violate U.S. securities laws how the court denied summary judgment on some issues relating to Ripple’s Brad Garlinghouse and Chris Larsen why “Footnote 16” of the ruling was so “surprising,” according to Stephen whether the SEC will appeal the case and how that process could unfold why Coinbase, Kraken and other exchanges re-listed XRP and whether that’s a safe step whether Coinbase will cite the Ripple judgment in its lawsuit against the SEC how this ruling does not represent a binding precedent why, even though this is a win for Ripple, it shouldn’t be used for investment strategy why Haseeb thinks the SEC should “fire their press department” whether the SEC’s case is “stronger than people on Twitter might like to believe” how, if proven, the allegations against Celsius founder Alex Mashinsky are “straight-up fraud” why Stephen says that a lot of the enforcement activity focused on DeFi was an “absolute misuse of resources” Hosts Haseeb Qureshi, managing partner at Dragonfly Robert Leshner, founder of Compound Tom Schmidt, general partner at Dragonfly Tarun Chitra, managing partner at Robot Ventures Guest: Stephen Palley, litigation partner at Brown Rudnick Disclosures Links Previous coverage of Unchained on the Ripple case: New Order in SEC vs. Ripple Over XRP Is a Win for Crypto: What Happens Now? The SEC's Lawsuit Against Ripple and 2 Execs: What You Need to Know Ripple's XRP: Why Its Chances of Success Are Low Unchained: SEC vs Ripple: Judge Rules XRP Sold on Exchanges Is Not a Security Former Celsius CEO Alex Mashinsky Arrested in New York - Unchained Crypto CoinDesk: Ripple, Crypto Industry Score Partial Win in SEC Court Fight Over XRP Ripple Labs Ruling Throws U.S. Crypto-Token Regulation into Disarray The Washington Post: Ripple ruling threatens SEC’s crypto regulation push Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	If you've been enjoying unchained and find the discussions here fascinating mind-blowing or as crypto tends to be downright bonkers
0:07.4	Please share this episode with a friend to keep the conversation going
0:11.2	Not as dividend. It's a tale of two-quon now your losses are on someone else's balance
0:16.2	Generally speaking air drops are kind of pointless anyways. I managed trading firms who are very involved
0:21.6	I like that eat the old
0:23.8	DeFi protocols are the antidote to this problem
0:27.6	Hello everybody welcome to the chopping block every couple weeks the four of us get together and give the industry inside of perspective on the crypto topics of the day
0:34.0	So we're doing a special episode today because there's some crazy stuff happening in the industry
0:37.6	So this is kind of a flash episode. It might not be as long as usual. I'll do really quick and chose first
0:42.3	You got Tom the DeFi maven and master memes next we got Robert crypto connoisseur and Zarr of super state
0:48.0	Terune should be joining
0:49.4	Terune is the gigabrain and grandpa Bob gauntlet
0:51.2	But he's a little a little late on the draw. He had a busy day today
0:54.1	So we're going to be a little gentler within the usual then today as special guests
0:57.4	We have joining a Stephen Pally the luminary of ledger law at Brown redneck
1:01.6	And then you've got myself. I'm a seed that had a dragonfly
1:04.7	It's more to say we're early stage investors in crypto, but I want to caveat nothing we say here is investment advice legal advice or even life advice
1:10.4	Please see chopping block that xyz for more disclosures. Okay, so Stephen
1:14.4	We have you here today to decipher what happened today and what it all means
1:17.6	Let me first run through what happened in the ripple case
1:21.6	Okay, so the ripple case for those of you who are just tuning in it's been brewing for quite a while
1:25.8	So ripple was sued in what was it 2020 2019?
	...

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