U.S. Senate Candidate and pro-XRP lawyer John Deaton files a motion to appear as amicus counsel in the SEC’s appeal against Ripple.
Pro-crypto journalist Eleanor Terrett shared the development yesterday on X. She disclosed that attorney Deaton’s notice of appearance brief recently appeared in the Second Circuit’s docket.
🚨NEW: A filing for an appearance of amicus counsel in the Second Circuit rendition of @SECGov vs. @Ripple has just appeared on the docket. 👇🏼
“Senate race or not, I don’t walk away from what I started,” @JohnEDeaton1 tells me. pic.twitter.com/bQrlSHVFgF
— Eleanor Terrett (@EleanorTerrett) October 24, 2024
The accompanying screenshot shows that Deaton’s appearance notice was officially entered on October 23, 2024. This filing signals Deaton’s continued involvement in the SEC v. Ripple multi-year lawsuit.
The development left many stunned, given the fact that Deaton is currently focused on the Massachusetts senate election. Despite this, Deaton, who advocated for XRP holders, still wishes to represent the community in the SEC v. Ripple appeal.
In a statement shared by Terrett, Deaton emphasized that he does not walk away from what he started, irrespective of his involvement in the Senate race.
Deaton Confirms Involvement in SEC v. Ripple Appeal
Shortly after his appearance notice went viral, Deaton confirmed plans to represent XRP community members as amicus counsel. The pro-XRP lawyer highlighted some major milestones he accomplished at the district court level of the lawsuit.
According to him, the district judge cited the nearly 4,000 XRP affidavits he submitted to the parties and his contributions to the LBRY lawsuit under footnote 16 in her decision. He disclosed that he made these contributions without collecting any fees.
Deaton claimed that his opponent and famous crypto critic, Elizabeth Warren, mocked this effort during a recent Massachusetts Senate debate.
Nonetheless, the lawyer reveals plans to continue representing XRP holders in the “SEC’s ridiculous appeal” against Ripple either as a senator or a private citizen.
“Someone has to advocate for token holders. It’s an honor for me to continue to be that person,” Deaton said.
XRP Isn’t a Security, Its Transactions Are Legal
Furthermore, attorney Deaton suggested that XRP remains a non-security, as confirmed by Judge Analisa Torres. According to him, Torres, despite being a Democratic Party judge appointed by former President Barack Obama, declared that XRP itself is not a security and that its transactions through digital exchanges like Coinbase are legal.
Attorney Deaton explained XRP’s legality by mentioning how Ripple’s co-founder Chris Larsen, whom the SEC personally sued in the Ripple lawsuit, donated $10 million worth of XRP through Coinbase to the Kamala Harris campaign.
The lawyer stated that the SEC sued Coinbase, claiming its business model is illegal because it facilitates token transfers similar to those Larsen recently made to Harris. Deaton noted that before this development, the SEC had approved Coinbase’s IPO, and interestingly, the agency had asserted that accelerating Coinbase’s IPO was in the public’s best interest.
This reversal—suing Coinbase over a business model the SEC had deemed legal—creates a paradox in the agency’s actions. “This proves just how backward the current regulatory environment is,” Deaton said.
Meanwhile, Ripple recently filed its pre-argument statement in its cross-appeal against the SEC. The parties are awaiting the Second Circuit’s scheduling order for the briefing stage of the lawsuit. Ripple’s CLO Stuart Alderoty expects the appeal briefing to end by July 2025.
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