Crypto Lawyer John Deaton Praises XRP Holders for Their Efforts in Ripple Trial – See What He Said

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John Deaton, crypto attorney and founder of digital asset legal and regulatory information firm CryptoLaw, praised XRP holders for their support in the ongoing Ripple lawsuit.

In a Saturday tweet, Deaton mentioned that 3,000 XRP holder affidavits had been submitted by Ripple. He said it would make a huge difference as there would be massive exposure with hundreds of thousands of pages.

“Exhibit 167 is divided into 26 parts. Although sealed, it was filed under ECF 655-1-26. When you have a massive exhibit with hundreds of thousands of pages, the system can’t handle it all as one coin and must be Looks like affidavits of 3K XRP holders have been submitted by Ripple,” he said. said in a tweet.

In response to the U.S. Securities and Exchange Commission’s motion for summary judgment, Deaton said hundreds of exhibits were filed as Ripple and individual defendants submitted memoranda of law over the past week.

He added that to date, there are 440 exhibits filed under seal. “Be proud. Your voices are heard. And they call it: decentralized justice.”

Monday, October 24 would be a big “revelation” as Ripple and the SEC are expected to file publicly redacted versions of the opposition briefs. Deaton said the public could read “limited redacted versions of the opposition” but not 56.1 statements, counter statements, exhibits, depositions and more until next year.

Ripple’s CEO has been expressing ‘outrage’ over the SEC for years

In mid-October, Ripple Labs CEO Brad Garlinghouse expressed his “outrage” to the SEC over the years-long lawsuit against Ripple. The regulatory agency filed a lawsuit against Ripple and its executives in December 2020, alleging that the sale of XRP constituted an unregistered securities offering worth more than US$1.38 billion.

However, Garlinghouse claimed the SEC lawsuit was a show of power rather than a legitimate attempt to enforce the law.

“My outrage grew as the litigation unfolded,” he said. “There is no remedy, there are no consequences for those who brought this lawsuit. The pursuit of a political objective by the SEC is not a matter of ‘faithful allegiance to the law.’ It’s a question of power.”

Garlinghouse also noted that there would be no “respect” for those affected by the SCE’s actions, drawing attention to the agency’s blatant lack of concern for individuals and businesses who have been harmed. by his harsh approach.

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