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Ripple vs. SEC: More than 71,000 XRP holders support Ripple – Attorney John Deaton

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Wit Olszweski 3 Ripple 1 1000x600 1
13
Aug

Source: Wit Olszweski

  • Deaton says all XRP investors are leaders of the XRP army.
  • The amici attorney commends XRP investors for their continued support for Ripple since the start of this legal battle.

An amici attorney in the Ripple-SEC legal battle, attorney john Deaton, has applauded XRP holders for not wavering in their support for the blockchain firm since its lawsuit with the SEC began nearly two years ago. An amici attorney isn’t a party to a legal case but can assist the court with information and expertise if the court permits.

In a tweet earlier in the week, attorney Deaton called XRP holders leaders of the XRP army due to their unrelenting support for Ripple. Deaton’s commendation followed a recent event when an Ashley Prosper-led group of Ripple advocates responded to the SEC FOIA office concerning the discussion between the financial watchdog and JPMorgan about the blockchain firm.

After receiving an initial response to his FOIA request from the SEC on the matter, Prosper also requested recommendations. He sought names of JPMorgan staff members who are also XRP community members that he could add to his response. After Prosper received replies, he filed a response to the SEC.

Attorney Deaton was delighted with the cooperation among XRP advocates and their commitment to support Ripple in its legal battle. Hence, he tweeted that the support proves that all XRP holders are leaders in the XRP army.

Since the legal battle between Ripple and the SEC, the XRP community members have stood solidly behind the Ripple team. The XRP army (members of the XRP ecosystem) have also been seeking gaps in SEC’s court filing to help the blockchain firm. Besides performing private audits of essential documents, XRP holders have also filed a class action lawsuit against the financial regulator through attorney Deaton. Attorney Deaton said 71,225 XRP investors had joined the class action lawsuit.

The battle continues

In the meantime, crypto legal counsel, James Filan, has alleged that the SEC is using delay tactics after the agency gave a one-line statement to the court stating that “it isn’t taking any position on Ripple’s call for a reopening of fact discovery.” Earlier, the judge asked the SEC to confirm some of the videos, which contained official remarks from the commission, presented as evidence by Ripple.

Filan said the SEC’s response is a “disregard of legal proceedings proved by the SEC’s decision to wait for five days before giving a one-line statement to the court’s request.” James

Meanwhile, Japan’s Shinsel bank launched an XRP rewards initiative a few days ago. Shinsei bank users earn Yen through the rewards program for using the bank’s products and conducting transactions. While the earnings are in yen, reward earners can swap their gains for XRP or BTC. According to the announcement, the rewards program will end in October 2022.

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