David Schwartz, the chief technical officer of Ripple Labs Inc., began his workweek by tweeting a picture of his planned speech for the staff at Metaco. Even though he claimed he thought the speech was flawless, Schwartz asked for the community’s feedback.
As David described it, the speech’s message was both motivational and “funny,” in an effort to warm the hearts of the Metaco employees who will be joining the larger Ripple family. He discussed the current conflict between Ripple and the larger crypto ecosystem and the Securities and Exchange Commission (SEC) of the United States in his lecture.
He made special reference to what he called a “tyrannical regulator” who has persisted in using enforcement proceedings against the people. A number of responses on the speech, which appeared to be a call to action for union activists, prompted the seasoned computer expert to provide extra clarity in a subsequent tweet.
Just in case it’s not apparent, this is supposed to be humorous rather than accurate, he wrote. I frequently chose the humorous diversion rather than the truthful one. Please don’t analyse this for authenticity; simply find it humorous (or not funny if you’re a thumbsucking mopehead without a sense of humour).
Funny but truthful
In fact, the intended speech’s substance may be too direct for a professional setting since it tells the truth about the regulatory mess the sector is currently in as a result of the Gary Gensler-led SEC.
The market regulator is still pursuing legal action against Ripple, and only last week, Binance and Coinbase exchange came under fire for, among other things, facilitating the trade of unregistered cryptocurrency securities. Whether or not the speech was modelled after what Schwartz tweeted, one thing is certain: there needs to be cooperation to take on the SEC and maybe win.
