Posts about LBRY
Algo was recently called a security in a lawsuit against the Bittrex exchange by Gary Gensler’s Democratic Party led hit squad, formerly known as the SEC.
They chose to use this indirect method in the hope that through an abundance of care other exchanges would fear they themselves would be sued for selling Algo and delist the coin.
Retail investors seen this risk and the price has fallen around 40% since the news broke.
But why didn’t the SEC just sue Algorand and it’s foundation directly, as they have in the XRP and Lbry cases?
They chose this indirect method because they KNOW they CAN’T directly sue Algorand because of the clever way the foundation set up its ICO and subsequent sales.
Algorand’s ICO was held in Singapore, outside of the SECs jurisdiction. It specifically excluded investors from the USA and took steps (KYC) to ensure they weren’t able to take part. Source : https://www.algorand.foundation/news/algorand-foundation-announces-first-auction
So the ICO is legally untouchable by the SEC- they can’t sue. They have no right to sue. It wasn’t in the USA.
The only sales which have occurred since in the USA are secondary sales, so they’ve been sold to a third party outside of the USA and that third party has sold them into the US market.
So why are the XRP and LBRY cases so important for Algorand (and indeed the whole of crypto)?
Because the judges in these cases are being asked to rule on if secondary sales are in fact sales of securities!
In both cases there’s a massive expectation that the judge will rule that secondary sales are not securities (think about it, they can’t be, if I sell you my xrp in USA as a private individual I haven’t sold you any kind of expectation of profit or rights of any kind, I’ve sold you an asset)
And once either judge makes this ruling it creates a legal precedent which will show that all of Algo sales in the USA are not securities!
Think about it! ICO no jurisdiction so SEC can’t sue, secondary sales are not securities!
There are no other sales!
Bullet proof!
I’m buying more Algo every chance I get. There’s only 10bn max supply, 72% in circulation so all large inflationary pressure is pretty much done. The project has spent the bear market building- more than any other project. Deals with FIFA and the bank of Italy… and it’s nearly at its all time low in price.
This is a once in a lifetime opportunity.
Algo was recently called a security in a lawsuit against the Bittrex exchange by Gary Gensler’s Democratic Party led hit squad, formerly known as the SEC.
They chose to use this indirect method in the hope that through an abundance of care other exchanges would fear they themselves would be sued for selling Algo and delist the coin.
Retail investors seen this risk and the price has fallen around 40% since the news broke.
But why didn’t the SEC just sue Algorand and it’s foundation directly, as they have in the XRP and Lbry cases?
They chose this indirect method because they KNOW they CAN’T directly sue Algorand because of the clever way the foundation set up its ICO and subsequent sales.
Algorand’s ICO was held in Singapore, outside of the SECs jurisdiction. It specifically excluded investors from the USA and took steps (KYC) to ensure they weren’t able to take part. Source : https://www.algorand.foundation/news/algorand-foundation-announces-first-auction
So the ICO is legally untouchable by the SEC- they can’t sue. They have no right to sue. It wasn’t in the USA.
The only sales which have occurred since in the USA are secondary sales, so they’ve been sold to a third party outside of the USA and that third party has sold them into the US market.
So why are the XRP and LBRY cases so important for Algorand (and indeed the whole of crypto)?
Because the judges in these cases are being asked to rule on if secondary sales are in fact sales of securities!
In both cases there’s a massive expectation that the judge will rule that secondary sales are not securities (think about it, they can’t be, if I sell you my xrp in USA as a private individual I haven’t sold you any kind of expectation of profit or rights of any kind, I’ve sold you an asset)
And once either judge makes this ruling it creates a legal precedent which will show that all of Algo sales in the USA are not securities!
Think about it! ICO no jurisdiction so SEC can’t sue, secondary sales are not securities!
There are no other sales!
Bullet proof!
I’m buying more Algo every chance I get. There’s only 10bn max supply, 72% in circulation so all large inflationary pressure is pretty much done. The project has spent the bear market building- more than any other project. Deals with FIFA and the bank of Italy… and it’s nearly at its all time low in price.
This is a once in a lifetime opportunity.
