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- John E Deaton tweeted about the 12,600 holders who turned out to be more than 75K.
- Deaton’s series of tweets were in response to Richard Heart’s tweet.
- The XRP lawyer suggested understanding that all the companies in active litigation with the SEC are at war.
The blockchain enthusiast and lawyer John E Deaton, who is a prominent member of the leading crypto firm Ripple’s XRP community, shared today a series of Twitter threads on his official page, briefly tracing the journey of the SEC-Ripple case since 2021 when he filed the motion to intervene as a “third-party defendant”.
Notably, he began his tweet by claiming that the 12,600 XRP holders who joined the motion in 2021 turned out to be more than 75K in 2023:
Technically, it was 12,600 #XRPHolders who joined the motion to intervene (today the putative class is more than 75K). But think about the motion to intervene:Thousands of retail digital asset holders asked a Federal Judge to make them actual defendants in a case! https://t.co/ptxPTUXZHs
— John E Deaton (@JohnEDeaton1) March 5, 2023
Significantly, Deaton’s tweets came in response to the YouTuber Richard Heart, who referred to the XRP case as an instance for filing an amicus brief or motion, commenting:
Everyone is virtually attacked by bad precedent and everyone wants the best arguments heard. Win together.
Reacting to the YouTuber, Deaton pondered on the criticism he received at the beginning for filing the “unlikely” motion when many people including lawyers called him “crazy”.
Interstingly, Deaton stated that the “SEC waged a war against crypto”, quoting:
The point is the crypto industry must accept that the SEC waged a war vs crypto when it attacked not only how a promoter sells a token but attacked the token itself- calling software code a security per se- no matter the seller or the circumstances surrounding the sale.
Corroborating his point, Deaton told that the thousand XRP holders intervening in the SEC-Ripple case show the “volumes of the public interest” in the case.
In concluding his words, Deaton suggested his readers think differently and “organize”. He added that all the companies that are in active litigation with the SEC are at “war”.
The post 12,000 XRP Defendants Turn 75,000 in 2023; Tweets John E Deaton appeared first on Coin Edition.
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