Cryptocurrency XRP ruled ‘not a security’: What this means for you
Hey Friends -
ICYMI, the cryptocurrency XRP, which has undergone a 3 year legal battle with the SEC, won a significant victory yesterday when a judge ruled that sale of XRP on public (centralized) exchanges is not a violation of securities law.
This is pretty huge deal for the sector as a whole.
Needless to say, this drove XRP's price way up. For those of you who attended our last Cryptocurrency & How to Trade It course and made this trade along with me, congratulations!
Also notable: per the notification from Coinbase below, major centralized exchanges will be re-listing XRP as well.
Another thing we discuss in the Cryptocurrency & How to Trade It course is the historical likelihood that listing events like these will cause further spikes in price.
So if you're interested, definitely think it's worth keeping an eye on this.
One of the Winklevi, a co-founder of the centralized cryptocurrency exchange Gemini, tweeted this about the news:
I don't like those dudes but I think he has a point. The SEC has been attempting to legislate through enforcement, and has failed to provide a clear, articulated regulatory framework for cryptocurrency projects.
While they were going after XRP, the SEC also let a bunch of scammy centralized platforms rob users of many millions of dollars.
They tried to do a good job of “protecting” us from Kim Kardashian though…
So all these events do seem to indicate that it isn't appropriate for the SEC to have any jurisdiction over this sector.
I still get really angry and annoyed about stuff like this, by which I mean terrible outdated bureaucratic organizations abusing their power (I'm working on it), and that's another reason this XRP ruling is an enormous deal, because I believe it's a clear sign that the old (unhealthy masculine energy) regime is crumbling even further.
To that end: if you'd like more information about our next Cryptocurrency & How to Trade It course, in which I talk about my vision for our future, kinder economic system after the fall - while providing practical insight that can help us find profitability in the climate of today - you're welcome to register interest.
There's a simple application, to make sure folks understand that the course sustains our work to serve those in need.
As ever, past students are welcome to join any future version of the course at no cost, and we'll be sending out an email to former students with information regarding how to participate as the course approaches (it'll be later this year).
I've barely promoted the course because all of the toxic masculine energy as these bad centralized platforms collapsed made it feel like it wasn't the right time, and I was kind of furious again that that was interfering with the healthy fem energy in our social good project, that it was clouding our message.
I went to the acupuncturist yesterday, and they literally had a sign that said something about how they accept payment in anything “except Bitcoin and chickens." Like it's a joke to them. Which is funny but also makes me even more frustrated with all the collateral damage ignorant unhealthy masc energy has wrought in this realm.
I took a picture of it because in spite of the near-term difficulties that narrative has created for me and for Seeds - these are the people who would resonate with Seeds if the message could get through - it's an interesting cultural moment.
Like how does inaccurate mainstream reporting, and a lack of awareness that the fall of these centralized projects happened for the same reason bad banks have failed for centuries, a lack of understanding about mining, minting and energy consumption - how does that take hold to the extent that healers in Northampton, MA, the lesbian capital of the United States, are mocking cryptocurrency in their pricing sheets, or whatever? lol.
But this XRP ruling changes things.
What may be most helpful to you to know now is that I believe this XRP ruling, coupled with the collapse of so many bad centralized exchanges over the last year or so, is setting the stage for the next cryptocurrency run.
If you weren't already aware, the next Bitcoin halvening is expected to take place ~April 26th, 2024 (depending on when the 840,000th block is mined). This matters to the trader because historically, the halvening has kicked off enormously bullish cryptocurrency movements - aka it's driven the market way up.
I still feel weird about “promoting” or whatever, but as I've said, the Cryptocurrency & How to Trade It course sustains our social good project, so that unlike virtually all non-profit organizations (although this is not their fault! It's late-stage capitalism's), 100% of the value of gifts made through Seeds go to those in need.
If you'd like to register interest for the course, you're invited to do so below.
Lastly, I wanted to let you know we'll be sunsetting the huge bonuses associated with recurring giving for new givers at the end of August.
All those who lock in a recurring gift amount before then (including our current recurring givers! There's no need to take any action if you already regularly give, and thank you!) will be legacied in, so if you'd like to take advantage of the up to 140% bonus before it ends you're very welcome to do so.
One-time gifts will continue to receive a 100% SEEDS reward.
After the sunset, we'll be shifting to a bonus system that rewards recurring givers for continuing to give over time. This means that if you're already a recurring giver, or if you become one now, you'll not only receive the up to 140% bonus, you'll also receive a bonus for being steadfast and consistent in your support. I'll share more specifics as the sunset date approaches as well.
Appreciate you all! Wishing you abundance.
-Rachel