HomeNewsXRP Advocate Deaton Points to Missed Opportunities in Ripple vs. SEC Showdown

XRP Advocate Deaton Points to Missed Opportunities in Ripple vs. SEC Showdown

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  • John Deaton, staunch XRP supporter, addresses the alleged “aiding and abetting” claims against Ripple CEO Brad Garlinghouse by the SEC.
  • The involvement and early testimony of former SEC executives could have significantly altered the trajectory of the Ripple vs. SEC case.

Delayed Testimonies Could Shift the Balance in Ripple’s Legal Battle

John Deaton, the brains behind CryptolawUS and a steadfast champion for XRP enthusiasts, recently shed light on the SEC’s accusations, suggesting that Ripple CEO Brad Garlinghouse played a role in “aiding and abetting.” Deaton’s discerning eyes focus on a particular avenue of the case that might have taken a different route: the testimonies of former SEC executives Bill Hinman and Jay Clayton. In his assessment, an earlier court appearance by these figures could have perhaps staved off the ensuing complications.

It’s worth noting that in the labyrinthine legal battle of Ripple versus the SEC, notable voices like the Digital Asset Investor have expressed their desire to have key figures, namely Clayton, Hinman, and a16z attorneys Lowell Ness and Chris Dixon, take the witness stand at the outset. There’s a consensus that Jay Clayton had designated specific personnel to supervise the discourse around Ethereum.

Deaton’s standpoint resonates with this sentiment. He firmly believes that Hinman should have been ushered into court proceedings, emphasizing the missed opportunity to summon a preceding SEC Chairman for testimony.

Garlinghouse in the Crosshairs: A Contested Decision

The Ripple CEO, Brad Garlinghouse, found himself in the legal crosshairs, a move Deaton critiques as a potential oversight by the SEC. Diving deeper, he unveils that Clayton aimed to launch a “non-fraud” litigation against corporate leaders at an individual level. Following a keynote by Hinman, Garlinghouse reportedly approached Clayton with concerns, articulating the sentiment that Ripple was in a state of “purgatory.” Interestingly, neither Clayton nor Hinman identified XRP as a security in their interactions with Garlinghouse.

Deaton accentuates that the litigation’s complexity could have been attenuated if Clayton and Hinman had proactively elucidated their stance. Such clarifications might have not only saved invaluable resources but could have propelled the broader cryptocurrency adoption, echoing a sentiment many in the crypto community resonate with. As things stand, the SEC continues its battle, challenging Judge Torres’ verdict that XRP doesn’t qualify as a security.

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AnnJoy Makena
AnnJoy Makenahttps://www.ethnews.com
Annjoy Makena is an accomplished and passionate writer who specializes in the fascinating world of cryptocurrencies. With a profound understanding of blockchain technology and its implications, she is dedicated to demystifying complex concepts and delivering valuable insights to her readers. Business Email: info@ethnews.com Phone: +49 160 92211628