Ripple's partial win against the SEC is setting off shockwaves across crypto. This is the 30min opinion commentary on the case you can't miss.

❗Don't miss Lewis' previous podcast with us explaining DLx Law's thesis piece, The Ineluctable Modality of Securities Law: https://youtu.be/TuSijQS6utA

Sit down with Sam Peurifoy of Playground Labs & Lewis Cohen of DLx Law, who famously penned the massive (& likely Ripple-impacting) thesis piece the "Ineluctable Modality of Securities Law" earlier last year, which has been included in an amicus briefs filed by Paradigm. The crux of the argument is that while certain issuer-to-investor transactions may be correctly labeled as securities transactions, there's a lot more nuance to the story when you move into secondary transactions which may not involve the original issuer (or token creator) at all.

Lewis' Twitter: https://twitter.com/NYcryptolawyer
DLx Law's Twitter: https://twitter.com/dlxlawllp
Sam's Twitter: https://twitter.com/SamPeurifoy
KAP Games' Twitter: https://twitter.com/KAPGamesGG

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Listen on Buzzsprout: https://www.buzzsprout.com/2006743/13227456

Watch on YouTube: https://youtu.be/Q8LI4_Q7HSg

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0:00 - Intro
1:00 - Ripple Case Overview
3:10 - The Four Big Categories
6:10 - Sales on Exchanges, "Programmatic"
9:20 - Impact to Exchanges & Projects
11:00 - Ineluctable Modality Thesis
14:15 - Decentralization in Background
19:00 - No Issuer-to-Investor Txs on Exchanges
22:10 - Are Tokens Commodities?
25:30 - Employees & Service Providers Sales
29:00 - Airdrop & Service Implications
33:30 - Founders & Insider Sales
36:45 - Concluding Thoughts
37:30 - Outro

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Sam is the CEO of Playground Labs, a web3 venture studio, and  he is a Partner & Head of Interactive at Hivemind Capital, a crypto-focused multi-strategy fund. Follow him on Twitter @SamPeurifoy. Web3 Wednesdays are sponsored by the Kapital DAO, the leading provider of web3 asset management SaaS tools.

The views expressed here are those of the individuals quoted and are not the views of the authors' employers or affiliates. Certain information contained in here may have been obtained from third-party sources, including from portfolio companies of funds managed by the authors' employers or affiliates. While taken from sources believed to be reliable, the authors have not independently verified such information and make no representations about the enduring accuracy of the information or its appropriateness for a given situation. In addition, this content may include third-party advertisements; the authors have not reviewed such advertisements and does not endorse any advertising content contained therein.

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest in any fund managed by the authors or their affiliates.

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