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- John Deaton is an attorney and a vocal XRP supporter.
- Recently, his amicus brief was accepted in the SEC V XRP case.
- The petition is gaining overwhelming support.
John Deaton, is among many in the blockchain industry who support XRP in the Securities and Exchange Commission (SEC) Vs Ripple Labs case. The attorney recently launched a petition to convince lawmakers to probe SEC Chairman Gary Gensler’s connection with FTX’s former CEO Sam Bankman-Fried.
At the time of writing, the petition had been signed over 3100 times. On the message portal of Deaton’s website Cryptolaw, more than 10,000 messages have been relayed to all representatives and senators.
The petition reads as follows:
“The SEC’s job is to protect investors, but Gary Gensler as chairman has failed to protect retail digital asset holders over and over. Now, evidence has emerged that proves that Gensler met with the mastermind of what may be one of the biggest frauds in American history, Sam Bankman-Fried, before the multi-billion-dollar collapse of FTX. Public documents have revealed that Chair Gensler and his senior staff were meeting with Bankman-Fried about a “no action letter” while a massive fraud was going on right under the SEC’s nose.
This is not the first time Gensler has been under an ethical cloud, like when he was the subject of an Inspector General investigation while he was chairman of the Commodity Futures Trading Commission (CFTC). It’s time for a full Congressional investigation of Gensler’s role in one of the biggest financial frauds in American history, particularly since he has reserved the SEC’s enforcement resources for “regulation by lawsuit” against non-fraud cases against crypto companies like LBRY and Ripple.”
Sam Bankman Fried aka SBF has been tweeting his plans and goals the past week. Martin Flumenbaum, Chris Larsen’s counsel in the SEC V Ripple Labs case The same attorney is representing XRP in the SEC case. However, it is not clear whether the Flumenbaum’s firm and SBF have parted ways.
The SEC filed a case against Ripple Labs Inc., its present CEO Brad Garlinghouse and its co-founder and Executive chairman Chris Larsen alleging that the executives.
Deaton’s amicus briefs will be read in the SEC V Ripple case
Deaton had previously requested permission to file an amicus curiae brief in the case. Judge Torres granted permission to the ‘amicis’ to file their briefs. An amicus curiae brief is information provided by an interested third party with the intention to influence the direction of the case proceedings including the judge’s decisions pertaining to the case. Essentially, these briefs add perspective to the already existing information regarding the case. Several industry members including XRP holders have filed amicus curiae briefs in the case.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
