Pro-XRP lawyer John Deaton has promised to hold the US Securities and Exchange Commission (SEC) accountable for the $15 billion loss that XRP investors suffered due to the SEC’s Ripple lawsuit. The legal expert, who is contesting against Senator Elizabeth Warren, famous for her anti-crypto stance, intends to fulfill this promise when he gets elected to the Senate. The lawyer has already outlined some of the ways which he intends to hold the Commission accountable.
Bitget
John Deaton Promises To Hold The SEC Accountable
In an X post, The pro-XRP lawyer promised to hold the SEC accountable for the 75,000 small XRP investors he represented in the SEC’s case against Ripple. The legal expert added that he isn’t willing to accept an apology from the Commission. Instead, he plans to hold people at the SEC accountable when he gets to the Senate since Senator Warren won’t do it. Specifically, the lawyer claimed these small investors lost over $15 billion thanks to the “SEC’s misconduct and gross overreach.”
The Senatorial candidate highlighted how the federal court declared that the Commission’s lawyers lacked “faithful allegiance to the law” and were only concerned about winning the suit against Ripple rather than protecting investors, which they are mandated to do. The lawyer also noted how he fought to protect these investors and did it for free.
John Deaton acted as amicus counsel for these investors, considering their interest in the Ripple lawsuit. The lawsuit is believed to have stifled XRP’s price, especially when it was instituted in 2020, just around the time of the 2021 bull market, preventing these investors from enjoying their desired profits from the crypto.
