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The SEC has been doing everything in their power to stifle crypto in the US. But this is a new one…government plants? In this video I break down Prometheum, a shady company that shows all the signs of being a potential Trojan horse for the SEC to infiltrate and dismantle crypto as we know it.
0:00 Intro
0:50 Gary’s Plan
3:10 On Capital Hill
7:52 Digging Deeper
11:20 What Even is Prometheum?
15:09 More Research Needed
18:16 Insider Info
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The SEC has created a trojan horse to Try to kill crypto and the name is Promethium Prometheus was a God who came To Earth and gave fire the SEC is using Promethium to try to burn crypto to the Ground let's get it Hey Guys today we are talking about the Hottest story in all of crypto which is Promethium a company nobody has ever Heard of but seems to be the expert on Securities laws uh so how is it in the World that promethium a company that Nobody including Charles hoskinson has Ever even heard of only has 1773 followers and are located in New York City how were they allowed to be a Witness the house Financial Services Committee meeting about digital assets Well they're just a mouthpiece by the End of this video when we get to the Inside information I've got you're going To understand Nobody believes that everything about This story is right there's something That stinks to High Heavens because not Only did promethium get to go with a Representative to Washington yesterday But also they got a meeting with the SEC Which even coinbase couldn't get very Interesting so let's check this out here This is Gary ginsler here talking about Promethium getting regulated by the SEC Manipulation on the platform
And so the conversations have been Constructive but it's also about them Bringing a business model into Compliance we have had success there is Even in the last two weeks an entity Filed as as a crypto entity filed as a What's called a special purpose broker Dealer and and got registered that way We've had successes with tokens now it's About these crypto exchanges in the Middle of the market you guys notice he Was talking about a business model there The funny thing is promethium doesn't Have a business model or a working Product and if you notice Gary ginsler There speaking he's usually pretty Smooth with his words you saw him almost Like Desdemona or Sophia the robot going Up to the cloud to try to pull bogus Information back down to be able to make Himself sound credible he was stuttering He was stumbling something is not right So let's go and check this out here so Here you see promethium building the Future of markets this is their website Uh promethium Ember capital is the first SEC registered broker dealer and fin Remember firm approved to operate as a Special purpose broker dealer or sbbd For digital asset Securities uh a term That the SEC can't even Define but yet It gave them approval very interesting Here now let's go to June this year Which is actually this month uh and
Let's check out what happened this is From the hsfc meeting and it put Promethium in the spotlight this is Mr Aaron Kaplan the leader and co-ceo of Promethium now the house Financial Services meeting he goes on and on about How the SEC has already provided Clarity Has already given a path for Registration but think about this why Are they saying that because they're Already approved by the SEC Can't so what this means is they've Already walked the path all these other Coins are getting called Securities They're not going to be able to walk the Same path that Aaron Kaplan and Prometheium did because they've already Been approved they're trying to remove The players off the chessboard trying to Remove the competition off the Chessboard exchanges tokens are having Trouble getting Clarity promethium Broker gets Clarity very weird very Interesting let's see what he has to say Here As early as July 2017 the SEC put the Industry on notice in the Dow report Stating that digital assets of related Financial Services could and likely did Implicate the federal Securities laws Subsequently the SEC created a Marketplace framework with the release Of the four-step process on July 8 2019 And the three-step process on September
25th 2020. thereafter the SEC created The framework for the clearance Settlement and custody of digital asset Securities through the special purpose Broker-dealer release on December 23 2020. These releases provide the framework for A compliant path forward for crypto in The United States I want to stress that point There is a compliant path forward to for Crypto in the United States that the SCC Has clearly laid out have you ever seen Something more scripted than that have You ever seen a guy with slickback hair That you can trust those are questions That you have to ask yourself here once Again remember trying to remove the Chess pieces off of the chessboard Trying to get rid of the competition Then we have this tweet here from Alexander grief this is an extremely Fascinating clip the Tweet says for Those who didn't stick around till the End of the financial Committee hearing Today this exchange between my flood and Promethium Aaron Kaplan is a must watch Flood explicitly lays out why Promethean's claims that their spbd Approval is evidence of a clear path to Regulatory Compliance or absolute Nonsense and rather their inability to Trade any widely trade assets exemplary Of why McHenry Thompson is needed for
Actual regulatory Clarity there's Something else about this video that to Me is a signal it's a dog whistle to us That something bigger is going on let's Check it out did promethium receive any Additional exemptive relief from the SEC That has not been publicly shared No Thank you Mr Kaplan promethean's special Purpose broker-dealer license does not Address the court issue there is not a Consistent definition of a digital asset Security within current law this point Was made obvious when chair ginsler Could not say definitively whether ether Is a digital asset security when asked By chairman McHenry In This Very Room a Couple months ago in other words that Same question that promethium themselves Raised in their 2021 comment letter is Still unanswered that's why legislation Is needed that's the problem that the Chairman's Bill Works to solve to Testify in front of our committee that Your company's Charter which only allows For trading in a very small subset of Assets is evidence that no legislation Is needed just doesn't make sense if Anything the fact that promethium's Customers cannot trade some of the most Popular digital assets is an Illustration of the broader problem Mr Kaplan the first question here he asks Is so fascinating he asked him directly
If he received any exemptive relief from The SEC what does that mean Special privilege it's almost like Either one of two things occurred here As interaction Either Mike flood saw through this so Quick that he didn't even need Twitter Threads to explain how promethium is a Opsecur or a psyop right a plant from The SEC or might flood already knew Something that we don't that we did not Know does he already know the SEC paid For this or does he already know that The SEC granted them special privilege To be able to bring them in as a plant In hearings like this to basically be Apparent for the SEC alright check this Out this week founder promethium is Testifying Financial Committee hearing On digital assets today he will argue he Represents the compliant path for crypto And those asking for updated regs are Just scofflaws however he is wrong on The law and his approach cannot work as Advertised okay now we have this tweet From digital asset investor promethium CEO Aaron Kaplan prepared to enter the Twilight Zone while just wow let's check Out what he had to say here I I would Argue that the library case that Happened that came out the summary Judgment the past few weeks is just as Important as a lot of the facts are very Similar I think that one of the reasons
That people are very focused on the xrp Component here and whether that's an Unregistered security is specifically Because uh it is one of the larger Cryptocurrencies and also I think it's The last line of defense for people who Are saying that tokens aren't securities If the Ripple matter comes out such that It's a determination that it's an Unregistered security that's an Investment contract and therefore is it Security uh I don't think anyone will be Able to make that argument anymore and Right now anyone who's making that Argument is best served by Ripple not Being a security so we already know Promethium is regulated by the SEC Already what you're seeing now is you're Seeing and once again This is really low IQ idiot stuff I'll Talk about that in a second but you're Trying to see Aaron Kaplan Mr slickback Himself making the case that xrp is just Like Library which was called an Unregistered security the library token And so he's basically trying to say here That they're linked and after xrp loses This case everybody's going to know Their Securities well here's the Interesting thing about it Library lost The first half of the case where it they Said that they are a security the second Halfway to determine what happens the Judge said well the sale was a security
But the token right now is not a Security what he's trying to do here is Position his company that uses DLT District Ledger technology just like Ripple to be able to open the floodgates For his company while making xrp Irrelevant that's what he wants he says Here if xrp is found to be a security And then basically all crypto tokens or Securities that's what he wants he's Already through the eye of the needle While all these other projects are not Not and I would disagree with him here It's not because it's one of the larger Cryptos it's because it's been something Encrypted that we've talked about Forever which is that is xrp and Security this was said five years ago People thought xrp had a chance of being A security it was suppressed in the last Bull Run it's not because of the size of The market cap it's because it's a major Player in the blockchain space and has Been since 2014. so once again he just Shows he doesn't here's another thing he Doesn't seem like he knows anything About crypto like if you really listen To the things that he's saying all he's Doing are giving talking points I think If you were really pressed on some of These issues you would find out this guy Is nothing but a government plan Thank you Now we have Charles Hoskins and one of
The most well-known people in crypto Obviously who the hell are these Promethium guys not only is Charles Hoskinson no you know a person that Knows everybody important in crypto he Also knows a lot of the major players in Washington Charles has testified many Times at the Department of Agriculture Which is over the SEC so he says who the Hell are these guys of course we've got Matt wash we'll hit with Mount Walsh Some of the stuff he had to say in just A moment but this year shows if Charles Don't know who they are this is Something very suspicious there's much Much more here we have this tweet here Founder of Prometheus is testifying at The hearing on digital assets today He'll argue he represents the compliant Path for crypto and those asking for Updated regs or just goblets however He's wrong with the law and his approach Cannot work as advertised first what is Promethium they are a broker dealer with No operating history they don't have a Product they have no operating history Okay Um since their approval they have Described themselves as the only Compliant alternative for crypto asset Trading Shocker the cringe interview on The Unchained pod that is Rife with Misstatements of law very very very Interesting promethium says no facility
Trading of any tokens their internal Compliance analysis determines their Securities they use Tuesday they would Allow train of ease which they Mistakenly argue as a security Um while testimony spends a lot of Effort decisioning for medium from his Chinese investors this is key it fails To mention a critical fact and ATS Cannot facilitate training for any Unregistered Securities not offered Under a valid exemption which is exactly What they allege tokens are therefore Prometheus ATS won't be able to trade Any tokens unless the Project's first Register with the SEC as we pointed out There are effectively no tokens Registered with the SEC because the Current regime is not a viable option Um promethium's ATS is a bicycle with no Wheels so sad we also have this from Cameron wiegelvoss and white Clockwork Gary Gunther went on record today with The Wall Street Journal saying some have Actually registered and there's a path Forward here that some that sum he's Referring to is promethium a crypto Company that has failed to launch a Product in six years and literally no One has ever heard of so here it is SEC Chair Gary gonzar on his crypto Crackdown they sat not down with him to Discuss promethium this is what he said Spear what's next then Gary Ginsburg
Says look what's next in this field is We're going to continue to reach out and Try to work with the market participants You're not reaching out to work with Anyone this is a lie an absolute lie my Experience these last two years is there Are entrepreneurs and operators in the Field that want to come into compliance So I've actually registered as what's Called special purpose broker dealers Some have registered even as alternative Trading systems only a handful have Actually registered their tokens there's A path forward here but will also use The tools that the American public wants Us to use to protect them the best we Can with our limited resources and Pursue this in the courts and if need be Appeal things as well appealing the xrp Lawsuit could that be what he's talking About there very interesting but he is Referencing obviously promethium then we Have this here let's check out uh this Uh this is Aaron Kaplan of promethium Um before you have this look back here Yeah so we raised 27 plus to date 27 Million plus the question is when Nobody's heard of them How do they raise 27 million dollars no Americans have heard of them listen to This our initial investor was a company Called the wongshong out of Shanghai Um they're one of the largest private Companies in China and I believe they uh
Or one of the largest blockchain Companies in China if they run Shanghai Blockchain week the largest blockchain Company in China They run blockchain week in New York Now Direct access to our markets how is this Legal I don't know you'd have to ask Gary on that one all right coming on Here we have Matt Walsh this is a big Tweet thread yesterday the promethium Storyline has got to be the strangest Thing I've seen in the in a while in the Industry has anyone looked into this Beyond bizarre last month in the midst Of the SEC bringing cases on coin Basin Gemini and giving the stiff arm to Robinhood and others for medium gets Approval for first of its kind special Broker purpose dealer lights or special Purpose broker dealer license for Digital asset Securities then Promethean CEO somehow gets a seat in front of Congress yesterday and starts reading Off pre-written notes clearly Coordinating narratives with Democratic Members of Congress or the SEC as Rodrigo pointed out the ATS absolutely Will not work unless the Project's first Register the tokens with the SEC Currently no tokens registered with the SEC because current regime is not viable For public blockchain networks you guys Representative Mike flood at the nail on
The head on wiper mediums claims or Utter nonsense once you've already Covered that the Promethean guy wants us To believe that all layer ones are Securities and will need to come and Trade on promethium not happening but Enter promethium chain what is that you Say these guys are going to have their Own chain and that's correct their own Token what makes them different than Ripple that's a great question well That's just a PPD side they surely won't Do a token wrong they already pre-sold Their tokens to the company that Invested them from China who is Wang Jang uh someone might want to look into This it's a CCP affiliate according to Pitchbook promethium is raised for 48.19 Million dollars like all private Companies are required to form a file a Form D when they raise oddly even in Their early rounds they use an Investment Bank to raise Capital very Rare they paid in excess of 1.5 million In sales commissions to a new Jersey-based outfit called Network One Financial securities Network One Financial securities has quite the Regulatory track record that's right They've had 18 regulatory violations One civil lawsuit four instances of Arbitration just like promethium Network One Financial is a China Affiliated firm Shocker news running promethium
Martin Kaplan Aaron Kaplan Benjamin Kaplan they look a lot like these guys Martin Kaplan Aaron Kaplan Benjamin Kaplan well that's Very interesting isn't it very Interesting it looks like the same guys Who who are these guys well let's find Out this here is the Kaplan Law Firm the Law firm is running promethium somebody Needs to dig in a little bit more to That one because I'm sure there's even More the kaplings are being held up as Security law experts two of them went to A now unaccredited law school other Companies like coinbase and Gemini have Pursued the b d and ATS paths those Licenses under SEC regs don't let you do Much they're implying Promethean bat Solves everything bizarre this French Player with no business model is being Held up an example of compliance by the SEC when the actual businesses can't get A seat at the table other than Sam in Sec psyop to have the Democrats oppose McHenry Thompson Market structure Bill You're seeing all the chess pieces move Into place the only difference here is We see what's going on within the first 24 hours Gary ginsler is sloppy very Sloppy and I think we're starting to see That now I talked to an Insider in Washington And uh what I'm going to show you next Are the responses when I asked him about
Uh about promethium and what he believes About it somebody who actually works Within this world works with these People at the hearings let's check out What he had to say when asked about Promethium he said well basically they Were the Democratic witness and they Were prepared by the Democrats to rebut The bill and support Gary ginsler's Views they got crushed for being Chinese-backed pretty funny The guy did not come off as credible in My opinion he was at the hearing Testifying alongside don't leave that Name out he was the only one taking that View though and the other Witnesses did A good job of countering in these Hearings the minority I.E the Democrats Get to choose one witness they chose This guy so that he could support the View that the SEC currently has the Ability to regulate and then the laws Are clear people just don't want to Follow them I do not think he was Credible now that's saying a lot right There because we looked at the people Attending this hearing before and there Was no SEC representation This guy was the SEC representation Nobody thinks that he's credible and When I take this here it's very Interesting he was the only one taking That view although other Witnesses did a Good job of countering this is not a
Crypto Guy this is a plant Aaron Kaplan With his slick back hair not really that Smart doesn't really know that much About crypto Basically did the Democrats in my Opinion a disservice not a service Because we all see what's happening and I can tell you I believe he is going to Get taken to task by Congress by Everything that's happened here we might See them even get unregulated if we can Find out a way to prove or if the Evidence is found to prove that the SEC Gave them special exemptive relief That will do them in and I think we need To raise a lot of questions and red Flags about the ccp's role in our Current markets You see the influence right there that's All I got be blessed way out Foreign