John Deaton, a vocal advocate for XRP and broader cryptocurrency rights as well as the current candidate for U.S. Senate, is reportedly considering getting involved in Coinbase’s ongoing legal battle with the Securities and Exchange Commission (SEC). This news appears under the name Coinbase requests an interlocutory appeal before the 2nd Circuit Court of Appeals in its high-profile lawsuit against the SEC.
Eleanor Terrett, Fox Business reporter Underlines Deaton’s potential involvement on Deaton served as amicus counsel in the Ripple cases and LBRY case. I’ll be interviewing John this week to get an answer to that question.
Will Pro-XRP Lawyer Deaton Support Coinbase?
Deaton, known for his outspoken criticism of the SEC’s approach to crypto regulation, has previously expressed his displeasure with the regulator on X, calling SEC Chairman Gary Gensler, of “bad faith regulator pursuing a political agenda”.
In a detail job On X, Deaton criticized Congress and the SEC, highlighting the need for judicial intervention to achieve regulatory clarity for the crypto industry. He emphasized, “Our checks and balances form of government is an example of what separates America from many other nations. »
Before candidate for US Senate seat in Massachusetts against crypto critic Elizabeth Warren, about 5,000 Coinbase customers had signed up to form a putative class similar to the XRP Lawsuit. “The people who joined us are users, developers and small investors. They don’t want the SEC to pretend to speak for them, but that doesn’t mean they want Coinbase to speak for them either,” the pro-XRP lawyer said.
In particular, Deaton has actively sought to amplify the voices of cryptocurrency users and investors who feel misrepresented by both the SEC and large cryptocurrency exchanges like Coinbase. His involvement in the Ripple case as amicus counsel on behalf of over 75,000 XRP holders demonstrates his commitment to representing the interests of the broader crypto community.
Deaton’s recent posts suggest he is ready to expand his advocacy to Coinbase users, having already created a platform for them to voice their concerns regarding the SEC’s actions in June 2023.
He said: “As I did in the Ripple case, I have a Google form to establish a putative class of customers and crypto account holders who use these platforms. (…) Gary Gensler and the SEC have demonstrated that they are not interested in protecting small investors and that they only act to serve their political masters.
He added: “Coinbase and its lawyers must serve the interests of employees and shareholders. Customers, who do not own COIN stock, deserve to speak out. I will continue to be that voice. If you’re a Coinbase customer and want your voice to be heard, here you go: »
Remarkably, Terrett has already demonstrated his insight into Deaton’s political maneuverings. Ahead of Deaton’s official announcement of his candidacy against Sen. Elizabeth Warren for the U.S. Senate seat in Massachusetts, Terrett interpreter a message from Deaton on X as a subtle allusion to his impending campaign. His prediction turned out to be correct.
This track record lends weight to his current speculation regarding Deaton’s potential involvement in the Coinbase affair, suggesting his instincts may once again be on track.
At press time, XRP was trading at $0.48875.
Featured image from YouTube, chart from TradingView.com
