Attorney Deaton wants to bet against securities lawyers who believe the Second Circuit will overturn the victory secured by Ripple against the SEC.
Crypto-Law founder Attorney John Deaton believes Judge Torres’ decision in the SEC v. Ripple case will not be overturned on appeal. Deaton has intended to bet against securities lawyers who speculate that the Second Circuit will overturn Ripple’s victory in the SEC case.
Since Judge Torres issued her verdict on the Ripple lawsuit, there has been speculation about the parties’ next action and possible outcomes.
Recall that Judge Torres partially declared summary judgment in Ripple’s favor. The court declared Ripple’s programmatic XRP sales as non-securities.
Securities Lawyers Think Ripple Will Lose on Appeal
Over the weekend, Fox Business Senior Correspondent Charles Gasparino disclosed that all the securities lawyers he has interviewed claimed Ripple’s victory will be overturned by the Second Circuit.
It is worth noting that former SEC director Marc Fagel is among the securities lawyers who share this sentiment.
Deaton Thinks Otherwise
In response, attorney Deaton said these securities lawyers were wrong in their predictions. Deaton recounted how these lawyers made fun of him and the Writ of Mandamus, he filed during the early stage of the lawsuit.
Furthermore, Deaton said they also laughed at his amicus curiae request and motion to intervene. However, the judge approved Deaton’s request to intervene and file an amicus curiae brief for 75K XRP holders.
Deaton stated that he would bet against these lawyers regarding the appeal decision. He asserted they were wrong when they predicted a total victory for the SEC during summary judgment.
“They were wrong in predicting a complete SEC victory, and they’re wrong now about the Second Circuit and the Supreme Court on appeal,” said Deaton.
Deaton remains confident that the Second Circuit and Supreme Court will not overturn Judge Torres’ ruling.
Charlie, those same securities lawyers told me I was wasting my time. Some laughed and made fun of me and my writ of mandamus (that I openly acknowledged was “unique” but filed for strategic purposes that played out as I had anticipated) and my motion to intervene and amicus…
— John E Deaton (@JohnEDeaton1) July 15, 2023
Deaton Wins Bet Against Gasparino
Recall that Deaton recently emerged victorious in his bet against Gasparino. As reported earlier, while Gasparino speculated that the judge would rule in SEC’s favor, Deaton said XRP would emerge victorious.
In addition, Deaton predicted that Ripple would not get a total victory against the SEC. Interestingly, Judge Torres’ ruled that XRP and Ripple’s programmatic sales are not securities.
However, she found that Ripple’s past XRP sales to institutional investors constitute securities. Consequently, Deaton won the bet, and Gasparino now owes the pro-XRP lawyer a dinner.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
