Attorney Deaton dispels rumors claiming that the SEC vs. Ripple’s lawsuit was staged.
In a recent broadcast, Pro-XRP lawyer John E. Deaton dismissed widespread rumors claiming that the ongoing SEC vs. Ripple lawsuit was staged.
Deaton explained that if there were a “secret plot,” he and other 76K XRP investors would not have been involved in the case.
“If there was a secret plot, then why am I here? If there was a secret plot, why did 76,000 people get together?” he said.
Attorney Deaton explained that his motion to intervene has never been filed in the United States, where individual investors would request to be actual defendants in a lawsuit.
Deaton Says SEC Vs. Ripple Case Is Real
He clarified that the ongoing SEC vs. Ripple legal tussle is real. Furthermore, Deaton said everything about the legal battle is real, including the $200 million Ripple has spent defending itself.
According to Deaton, Coinbase and Kraken delisting XRP due to the lawsuit was also real. Deaton added that he has been in the courtroom and has seen the back-and-forth arguments between the SEC and Ripple’s legal counsel.
“When you take that attitude of hey, it’s already been predetermined, all you’re doing is letting the bad guys win […] You’re letting Hinman win. You’re letting Clayton win. You’re letting Gary Gensler win,” he added.
Per Deaton, these past and present SEC officials will continue to do their thing while giving the crypto community the notion that things will always remain the same.
“Don’t fall for that; don’t let your frustration, anger, and all that cloud you in that way. We’ll keep fighting until there’s no fight left,” the pro-XRP lawyer said.
Critics Say Ripple Lawsuit Was Staged
Notably, some crypto community members have alleged that the SEC vs. Ripple lawsuit was staged from the onset. Cypress Demanincor, the CEO of CYPRX Superior Trading, is among the pioneers of this claim.
Demanincor believes the lawsuit was staged due to Ripple’s involvement in top fintech-related events. He made the comment after Ripple Chairman Chris Larsen was listed among the speakers of a digital asset-related event that took place in California last month.
Attendees of the event include representatives from J.P. Morgan, R3, Mastercard, Morgan Stanley, HSBC, and Citi, among others.
Reacting to the development, Demanincor quizzed:
“How is it that a company that has been sued by the SEC for doing something illegal [be] at all of these events? Come on now, it’s a setup, ladies and gentlemen, and Ripple is always at the forefront in some way, shape, or form.”
However, Australian-based lawyer Bill Morgan disagreed with Demanincor. He noted that Ripple would be instrumental in driving the institutional adoption of digital assets, which explains why Larsen was listed among the event’s speakers.
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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