Attorney Deaton praises XRP holders for making a difference in the SEC v. Ripple ruling, where the judge declared programmatic XRP sales as non-securities.
In an interesting development, Attorney John Deaton, the founder of Crypto-Law.US, highlighted how XRP holders “made a difference” in Judge Analisa Torres’ decision on the SEC v. Ripple case.
For context, the judge finally decided on the lawsuit yesterday, with XRP pulling a major victory. As reported, the judge declared XRP non-security, prompting U.S.-based exchanges to relist the crypto asset.
In the ruling, the court also finds that Ripple’s programmatic sales are not securities. According to the court, Ripple was completely unaware of who bought XRP via its programmatic sales. The ruling added that buyers never knew who was selling the coins.
Interestingly, the judge clarified that many XRP purchasers were unaware of Ripple’s existence, citing XRP holders’ affidavits.
Deaton Reacts
Reacting to the development, attorney Deaton said XRP holders made their way into Judge Torres’ decision. He explained that the document cited by the judge represents the 3,500 XRP holders’ affidavits submitted by Ripple.
#XRPHolder Affidavits make their way into the Judge’s decision. Judge Torres writes:
“In fact, many Programatic Buyers were entirely unaware of Ripple’s existence.”
She cites ECF 831-1-832-26
Those are the 3500 #XRPHolder Affidavits that we submitted. You made a difference. https://t.co/dJZ5xomfIo pic.twitter.com/Bu063jBFu2
— John E Deaton (@JohnEDeaton1) July 13, 2023
Deaton, who represented over 75K XRP holders in the Ripple lawsuit, praised these investors for making a difference.
“She cites ECF 831-1-832-26. Those are the 3500 #XRPHolder Affidavits that we submitted. You made a difference,” said Deaton.
XRP Holders’ Affidavits
It bears mentioning that the 3,500 XRP holders’ affidavits are among the exhibits filed by Ripple to support its defense. Attorney Deaton collected the affidavits in the early phase of the SEC v. Ripple lawsuit.
According to the affidavits, XRP holders claimed they did not assume legal responsibility for purchasing the coin, nor bought it due to Ripple’s promises.
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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