John Deaton, a Republican candidate and pro-crypto lawyer, has made headlines by stepping up to appear as an amicus counsel for Ripple (XRP) holders in the ongoing SEC vs Ripple case. This development comes as the case continues to grab attention and generate controversy in the cryptocurrency community.
In a recent filing, Deaton expressed his intention to support Ripple holders as an amicus counsel in the Second Circuit rendition of the case. This move demonstrates Deaton’s commitment to his cause, regardless of his Senate race ambitions.
Deaton highlighted the ruling by Judge Torres, a lifelong Democratic Judge appointed by Barack Obama, stating that “XRP itself is NOT a security” and the sales of XRP on exchanges like Coinbase are legal. He criticized SEC Chair Gary Gensler and the current government, stating that XRP is completely legal and highlighting the fact that Chris Larsen, who was personally sued by the SEC, donated millions of XRP to Vice President Kamala Harris through Coinbase, which is also being sued by the SEC.
Furthermore, Deaton criticized the SEC’s allegations against Coinbase, questioning the SEC’s claim that Coinbase’s business model is illegal because it allows for XRP transfers to other users, similar to the transfer made to the Vice President. Deaton pointed out the inconsistency in the SEC’s stance, as they previously claimed that accelerating Coinbase’s IPO was in the public’s best interest.
Deaton’s efforts in the case include submitting four thousand XRP Holder Affidavits to the court, which were cited by Judge Torres in her decision. He emphasized that his involvement has been pro bono and that he hasn’t profited from it in any way.
During a recent debate, Deaton claims that Senator Elizabeth Warren mocked his pro bono work when he mentioned his efforts to assist the 75,000 token holders, including 627 who reside in Massachusetts. Despite this, Deaton remains committed to representing token holders in the SEC appeal, whether as a sitting U.S. Senator or as a private citizen.
In conclusion, John Deaton’s decision to appear as an amicus counsel in the SEC vs Ripple case demonstrates his dedication to the rights of XRP holders and his belief in the importance of America’s leadership in innovation. He will be representing intervenors such as Kristiana Warner, James Lamonte, and Jordan Deaton in the case.