SEC did not have more specific evidence, says XRP-supporter Attorney John Deaton


John Deaton said that Ripple and its counsel should be in confidence because the SEC agency doesn’t have any point against Ripple.

Ripple (XRP) is a Fintech company, which is headquartered in San Francisco. Since December 2020, Ripple & SEC are fighting against each other over the nature of the XRP Token. The US SEC agency is the leading regulatory body in the United States, which regulates the spot money market including the crypto industry. 

Recently Ripple filed a request in the court to close the case without full trial because the XRP lawsuit failed to reach any result in the last 2 years of time frame. 

 XRP-supporter attorney John Deaton said that Stuart Alderoty, General Counsel of Ripple, should feel confident in this situation because the SEC agency has no more evidence against Ripple company.

In a new interview, Deaton said that he was surprised because SEC’s filings were very weak, which was unexpected. 

Deaton said:

“I think there’s a reason for Stu to be confident. I have to tell you something, I was proven wrong already by these briefs because if people go back to my tweets a couple of weeks ago, I tweeted out that when we see the summary judgment motions and they’re unredacted, that we’re going to see evidence that we were unaware of.”

Ripple’s supportive attorney also said that he was expecting that there were some points against Ripple and there was a huge chance of risk for the XRP holders, but it was not true.

Further, Deaton explained:

“(SEC’) all the specific evidence that they pointed to was to institutional investors and accredited investors. They made no connection to XRP holders, the retail holders, you or me, or people out there.”

It is worth noting that recently CFTC commissioner Pham visited the Ripple company and it created huge excitement among the XRP token investors. The CFTC agency is known as the sister of the SEC agency. 

Read also: CFTC commissioner visits in RippleLabs