John Deaton, the founder of CryptolawUS and pro-XRP lawyer, criticized the SEC for their “aiding and abetting” charges against Ripple CEO Brad Garlinghouse. Deaton argues that if the SEC had just let former leaders Bill Hinman and Jay Clayton testify earlier, this whole mess might have been avoided. Think of the saved time, saved money, and oh, the increased crypto adoption we would be witnessing!
The “Ethereum Free Pass” Drama
Digital Asset Investor took it a step further. Besides Clayton and Hinman, they’re advocating for Lowell Ness, a past a16z attorney, and Chris Dixon to be summoned. Why? Because Clayton was the man behind what’s being called the “Ethereum Free Pass Speech.” Yep, that’s a thing. And these key figures could spill the insider beans about how the SEC really thinks about crypto.
Ripple’s CEO Speaks Out: “We’re Stuck!”
That’s what Brad Garlinghouse, the CEO of Ripple, reportedly exclaimed in a meeting with Clayton and Joel Katz, Ripple’s CTO. But neither Clayton nor Hinman ever confirmed that XRP was, in fact, a security. Deaton thinks this moment is pivotal—so much that Clayton should testify as a “fact witness.”
The Cost of Confusion: Ripple and XRP Market Impact
While legal eagles are battling it out, what’s happening to XRP? The digital asset has been on a roller coaster, with prices dropping and then ticking up 2% in just 24 hours. But a whale moved more than $20 million in XRP as traders scurried to find their footing.
The courtroom drama is unfolding like a blockbuster thriller. Lawyers and investors agree: former SEC officials should testify to shed light on the real story behind crypto regulation. It’s not just about Ripple or XRP; it’s a case that could decide the fate of the crypto landscape in the U.S.
