XRP Advocate Moves To Support Coinbase Users As Amicus Curiae In Legal Battle

Pro-XRP advocate John Deaton has followed through on his promise to assist Coinbase customers by formally seeking to intervene as a friend of the court in the exchange’s legal dispute with the United States Securities and Exchange Commission (SEC).

In a filing dated April 19 in the United States District Court for the Southern District of New York, Deaton petitioned to represent 4,701 Coinbase customers as amicus counsel in the ongoing lawsuit initiated in June 2023.

The filing stated, “I am admitted or otherwise authorized to practice in this court, and I appear in this case as counsel for 4,701 Coinbase Customers.”

In an interview with Fox Business journalist Eleanor Terrett on April 18, Deaton expressed his support for Coinbase customers, citing his motivation as protecting ordinary individuals striving to “build a little wealth” in their lives.

This isn’t just about crypto; it’s about freedom. It’s about moving up in the world, about folks who want a fair shot, about folks who want to make some money. They’re not trying to get rich quick; they’re not the crypto crowd,” he said.

This statement comes in the wake of Coinbase’s filing of an interlocutory appeal in its legal battle against the SEC, shortly after the court rejected its motion to dismiss the entire lawsuit.

However, the interlocutory appeal focuses on whether an investment contract necessitates something contractual, as explained by Coinbase’s chief legal officer, Paul Grewal.

XRP Advocate Deaton’s Legal Moves

Moreover, Deaton has actively supported the crypto community through various legal avenues. He filed amicus counsel requests in several instances, notably in the LBRY v SEC lawsuit in Sept 2023.

However, his most significant action was in 2021 when he submitted an amicus brief for over 6,000 XRP holders in the SEC’s lawsuit against Ripple Labs.

In recent developments, Deaton has shifted his focus towards politics, campaigning for a Senate position to unseat crypto-skeptic Senator Elizabeth Warren.

According to a report on April 15, Deaton has outpaced Senator Warren in fundraising efforts for his bid to claim her Senate seat. He raised $1.36 million in the year’s first quarter compared to Warren’s $1.09 million.

This fundraising success follows Deaton’s investment of $500,000 of his own money into the Senate campaign, as announced to his 324,100 followers just over a month ago. However, he also appealed to his followers to help raise an additional $500,000.

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The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.

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