Top lawyers and XRP holders thank Deaton for his unending efforts in the legal battle between the SEC and Ripple.
Several XRP community members have taken to Twitter to express gratitude to CryptoLaw founder John E. Deaton for protecting their interests in the ongoing case between the U.S. SEC and Ripple.
Yesterday, attorney Deaton slammed the SEC for harming American investors through its lawsuit against Ripple. He pointed out that three out of five SEC commissioners voted in support of the “bogus lawsuit” against the blockchain company.
The pro-XRP lawyer noted that only SEC commissioners Hester Peirce and Elad Rossman voted against the move. Furthermore, Deaton shared an appreciation note he received from one of the victims of the SEC case.
The anonymous XRP community member thanked Deaton for expending his efforts toward protecting the interests of investors in the ongoing legal battle.
“Without your work on this case, I would truly feel alone and helpless in this fight against a bully that I would have no chance to defeat if it weren’t for the initiative that you took when you saw such an overreach by the SEC,” an excerpt of the note read.
Dear @SECGov & commissioners who voted YES for the bogus lawsuit ? @Ripple & #XRP (If @FoxBusiness is ?, the vote was 3-2 w/@HesterPeirce & Elad Roisman voting no): Below is one of the amazing people you turned your back on and harmed, and why it’s easy for me to get emotional. https://t.co/AloSHF4T4z pic.twitter.com/SvwPY6mWhD
— John E Deaton (@JohnEDeaton1) May 30, 2023
Meanwhile, Deaton’s tweet was in reaction to an appreciation tweet from another XRP enthusiast, who thanked the CryptoLaw founder for giving over 75K XRP holders a voice in the SEC case.
Deaton’s Role in SEC vs. Ripple Case
It bears mentioning that attorney Deaton has been at the forefront of the SEC vs. Ripple legal battle. His primary focus in the lawsuit is to protect the interests of XRP holders.
Notably, the SEC’s claim against Ripple is considered excessively broad, as it does not distinguish between investors who bought XRP from secondary markets and those who acquired the asset directly from Ripple.
According to top lawyers, the SEC’s claims can implicate XRP secondary market transactions and potentially prevent the crypto asset from being traded in the United States.
Aside from slamming the SEC’s gross overreach, Deaton officially filed an amicus curiae (a friend of the court) brief on behalf of over 75K XRP holders, making them actual defendants in the lawsuit.
For many, the brief filed by Deaton might urge Judge Analisa Torres to comment on XRP secondary market transactions in her upcoming summary judgment decision.
Pro-XRP Lawyers Express Gratitude to Deaton
Meanwhile, pro-XRP lawyers, including Jeremy Hogan and Bill Morgan, thanked Deaton for his efforts in the SEC vs. Ripple case.
In a tweet today, attorney Hogan commended Deaton for not requesting money in exchange for his services to XRP community members.
Hours and Days and Weeks and Months of work.
And never asked for a penny.
Hats off to Johnny D. – True American Hero.
— Jeremy Hogan (@attorneyjeremy1) May 30, 2023
In a similar development, attorney Morgan paid respect to Deaton for giving the XRP community hope at a critical time in the lawsuit.
“If you had not done what you did to represent the interests of XRP holders, there is no certainty anyone else would have done so,” said Morgan.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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