AnalysisCryptocurrency newsRipple

Call from Attorney John Deaton to Ripple (XRP) Investors!

Criticizing the SEC's decisions, Attorney John Deaton made a call to XRP investors. The lawyer claimed that the ongoing lawsuit between Ripple and the SEC could not be concluded due to both parties.

Call from Attorney John Deaton to Ripple XRP Investors!

The SEC and Ripple Labs lawsuit is due in the last quarter of 2021 despite the deal rumors. In the current situation, the fact that both parties give instructions after directive prevents transactions from being completed.

Attorney John Deaton: I Represent XRP Investors

It seems Ripple isn’t the only one challenging the SEC. In a recent interview with Fox Business, prominent lawyer John Deaton claimed to represent 22,000 XRP investors, saying he was “fighting vague regulation.” Deaton spoke to the SEC about the legal action he initiated. Moreover, he noted that SEC officials were linked to Ripple’s rival Ethereum .

In late 2020, right after the SEC filed a lawsuit against Ripple’ Labs, Deaton wrote a statement to the government body that it needed to fulfill its mandate on the matter. In the statement, he stated that the SEC had made absurd claims. However, according to Deaton, the SEC objected to the disclosure, arguing that the Ripple case could not move the matter out of court. John Deaton, who has invested in XRP before, says his goal is to support XRP investors who are affected by the SEC’s decision, not Ripple .

Ethereum Connection Claim

In the aforementioned interview, Deaton claimed a conflict of interest between current and former SEC officials. He specifically pointed to former SEC Chairman Jay Clayton and William Hinman, Director of the SEC’s Corporate Finance Division. According to the attorney, Clayton’s previous law firm once represented the co-founders of Ethereum. He also added that Hinman’s former law firm Simpson is a board member of the Enterprise Ethereum Alliance of Thacher & Bartlett. Deaton urged XRP investors to defend themselves. Because according to the lawyer, neither Ripple nor the SEC will do that for them.

Despite John Deaton’s confident statements, it should be noted that none of these claims have any proof. The SEC case with Ripple, which has been going on since 2020, has not been concluded for a long time, since the two sides are far from reconciliation. Without official statements, making sharp comments on the subject will remain only as an assertion or speculation.

Samuel Hegi

Samuel Hegi , who first became acquainted with blockchain technology in 2014, is highly critical of blockchain technology. Samuel Hegi, a journalism graduate from the University of Brighton Theblockchainnew.com he is the editor-in-chief of the news portal. Blockchain is love.

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