In the latest development on US Securities and Exchange Commission(SEC) vs Ripple case, Republican candidate and Pro-crypto lawyer John Deaton has stepped up to appear as an amicus counsel for Ripple (XRP) holders.
According to the post by Fox journalist, Eleanor Terrett:
NEW: A filing for an appearance of amicus counsel in the Second Circuit rendition of @SECGov vs. @Ripple has just appeared on the docket.
“Senate race or not, I don’t walk away from what I started,” @JohnEDeaton1 tells me. pic.twitter.com/bQrlSHVFgF
— Eleanor Terrett (@EleanorTerrett) October 24, 2024
It is worth mentioning that the screenshots accompanying the post shows that the case was docketed on October 23, 12:4 PM EDT.
John Deaton has commented on his move, “Judge Torres, a lifelong Democratic Judge, who @SenGillibrand fought to get on the bench, appointed by @BarackObama, unequivocally ruled “XRP itself is NOT a security” and sales of XRP, on exchanges like @coinbase, are LEGAL.”
Calling out SEC Chair Gary Gensler and current government, Deaton said that “XRP is so LEGAL, @chrislarsensf, who was PERSONALLY SUED, by the @SECGov (along with @bgarlinghouse), over personal sales of XRP, just DONATED millions of XRP to @VP through @coinbase, which is ALSO BEING SUED by the same rogue out-of-control SEC, led by an unethical, corrupt Chairman in @GaryGensler.”
Deaton went on to blast SEC and said that SEC is suing Coinbase with allegations of Coinbase’s business model being illegal because it allows XRP transfers to other users, “similar to the transfer of XRP made to the Vice President of the United States of America”.
Deaton further pointed out the discrepancies in SEC’s allegations as two years prior to alleging Coinbase is running an illegal business, the same SEC, after learning the specifics of Coinbase’s business model, claimed that accelerating Coinbase’s IPO was in the public’s best interest.
Deaton had submitted four thousand XRP Holder Affidavits to the court and Judge Torres cited his efforts in the LBRY case in footnote 16 of her decision. He clarified that all the efforts that he has put in, are pro bono and he did not make a single crypto out of it.
In a recent debate, Senator Elizabeth Warren “mocked” his pro bono work, alleges Deaton, when he mentioned that he had worked for free trying to assist the 75K token holders who had joined him, including 627 who live in Massachusetts.
He pressed on his intention to continue to represent token holders in the SEC appeal either as a sitting U.S. Senator or as a private citizen.
Deaton concluded, “Someone has to speak for token holders and it’s an honor for me to continue to be that person because America must be a leader when it comes to innovation.”
Intervenors including Kristiana Warner, James Lamonte, Jordan Deaton will be represented by John Deante in the case.
Also Read: Deaton Warns of SEC’s Crypto Strategy, Compares XRP and Cardano Cases
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