The XRP community has been eagerly, or eagerly, anticipating the day the SEC’s lawsuit against Ripple Labs resumes in 2022. Although it is scheduled for around January 19, XRP investors are already preparing to make sure of let their voices be heard.
Crypto attorney John Deaton, representing more than 50,000 XRP holders during the lawsuit, has become a familiar presence in the space. However, a confession on Twitter caught many of his own followers by surprise.
A meeting of the best three
In a Twitter thread where he was discussing his goals for the SEC vs Ripple case, Deaton reminded people which also had Bitcoin and Ether.
These critics are likely #ETH holders and don’t want their investment paid attention to. But I am also the owner of #ETH. The judge herself made clear the SEC’s treatment and analysis of #Bitcoin Y #ETH are relevant in relation to the analysis of the Court of #XRP under Howey and Fair Notice.
– John E Deaton (@ JohnEDeaton1) January 7, 2022
Naturally, this came as a surprise to many, as a hot topic during the case has been the question of whether or not senior SEC officials had exchanges with Ethereum-related stakeholders that would have constituted a conflict of interest.
For his part, Deaton pointed out the difference between Ether, the asset, and the people linked to Ethereum. He saying,
“Some of you have DM sent me saying that you appreciate my efforts, but are disappointed in me because I have not sold my #ETH based on what we have learned. Judge Castel, on Telegram, said it best: cryptocurrencies and digital assets are simply “alphanumeric code.” “
“But what we DON’T want is for the SEC to just try to publicly cover their butt and serve the @ethereum Foundation and @ConsenSys or @VitalikButerin or @ethereumJoseph with subpoenas for @GaryGensler you can say you are being fair. “
Deaton emphasized that his goal was regulatory clarity, to obtain a judge’s decision that XRP was no a guarantee.
United we are, divided …
Earlier, Deaton had reminded his audience that it was dangerous to turn the SEC’s lawsuit into an Ether vs XRP case. The crypto attorney noted that a victory for Ripple would benefit altcoins as a whole and help the next company in court to take on the SEC more easily.
Who is the enemy?
Some have accused me of doing the @Wave case about #XRP 🆚 #ETH. It’s because I wrote the timeline of facts 🧵 and the #Ether Free pass memo.
But the fight is against the SEC. Like it or not, ironically, XRP and ETH are on the same side in the case of the SEC.
– John E Deaton (@ JohnEDeaton1) November 15, 2021
Making a great “fife”
On January 6, the SEC filed a filing that used the outcome of another case to strengthen its own pending motion to attack Ripple’s Fair Notice Defense. The move ignited a firestorm of reactions as XRP holders tried to guess how the results of the case between the SEC and John M. Fife could affect Ripple’s own defense in the coming weeks.