A well-known supporter of XRP and cryptocurrency rights named John Deaton is rumored to be thinking about helping Coinbase’s defense. This could have significant impacts on the case that Coinbase and the Securities and Exchange Commission (SEC) are still in court over.
For the record, Deaton has fought against lawmakers and for crypto fans’ rights many times while running for the US Senate.The fact that Deaton might have been involved came to light while Coinbase was trying to make an interlocutory appeal to the 2nd Circuit Court of Appeals in answer to the SEC’s claims. Eleanor Terrett, a writer for Fox Business, brought this to our attention and hinted that she would be interviewing Deaton soon to go into more detail about it.
XRP Advocate Deaton Criticizes SEC
It is well known that Deaton has a past of criticizing the SEC’s regulatory approach, especially when Chairman Gary Gensler was in charge. He has always talked about his worries about what he sees as the SEC’s overreach and how it hurts the crypto business.
He’s not just criticizing, he’s also getting involved in legal fights. He’s been an amicus counsel in important cases involving XRP and LBRY in the past. Deaton wants to be a senator in Massachusetts and has a history of getting crypto fans to support him. His possible role in the Coinbase case adds a new layer to the already complicated legal landscape.
Notably, thousands of Coinbase customers had come together to support Deaton, creating what seemed to be a class action similar to the XRP lawsuit. This showed that a lot of people were unhappy with both governmental overreach and corporate representation.Deaton wants crypto users and investors to be heard, and he is ready to stand up to governmental and corporate power.
Because of this, he has a lot of power over how cryptocurrencies are regulated in the future. He has fought for the rights of more than 75,000 XRP users in court, which shows that he is dedicated to serving the needs of the entire crypto community.
People are trying to guess what Deaton’s possible support for Coinbase users by giving them a place to talk about their problems could mean as he gets ready to do so. Terrett’s smart observations and comments from the past back up the idea that Deaton might join the fight. These people talk about a possible strategy move that might tip the scales in favor of cryptocurrency fans who want clear rules and fair representation.
