XRP Lawyer John Deaton Backs Coinbase Customers Against SEC

Prominent pro-XRP lawyer John Deaton has followed his vow to support Coinbase customers embroiled in a legal battle with the U.S. Securities and Exchange Commission (SEC). On April 19th, Deaton submitted a filing to the United States District Court for the Southern District of New York, requesting to serve as an amicus curiae, or “friend of the court,” representing 4,701 Coinbase customers.

Moreover, in the filing, Deaton declared, “I am admitted or otherwise authorized to practice in this court, and I appear in this case as counsel for 4,701 Coinbase Customers.” His involvement stems from a desire to safeguard everyday individuals striving to build wealth through cryptocurrency investments.

Furthermore, during an April 18th podcast interview with Fox Business journalist Eleanor Terrett, Deaton explained his motivations: “This isn’t about crypto; this is about freedom. This is about upward mobility. This is about people who want a fighting chance and to build wealth. They are not looking to get rich; they’re not crypto bros.”

XRP Advocate Deaton: Legal Warrior & Senate Hopeful

Deaton’s move comes just days after Coinbase filed an interlocutory appeal in its ongoing lawsuit against the SEC. The appeal challenges the court’s denial of Coinbase’s motion to dismiss the entire case, centring on the “controlling question” of whether an investment contract necessitates “something contractual,” according to Coinbase’s chief legal officer, Paul Grewal.

Furthermore, Deaton, no stranger to crypto legal battles, has filed several amicus curiae requests over the past few years. Most notably, he represented over 6,000 XRP holders in the SEC’s high-profile lawsuit against Ripple Labs in 2021.

Beyond the courtroom, Deaton is waging a campaign for a U.S. Senate seat occupied by crypto sceptic Elizabeth Warren. Deaton outpaces Warren, raising $1.36 million compared to her $1.09 million in Q1 2024.

Moreover, with his legal endeavours and political ambitions, Deaton has solidified his position as a stalwart advocate for the crypto community. He vowed to fight for the rights of everyday investors seeking financial freedom through digital asset investments.

Related Reading | Ripple Global Expansion: A Strategic Roadmap For Cryptocurrency Innovation

Furthermore, the authorā€™s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.

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