One pro-Ripple attorney has praised the “great restraint” demonstrated by Brad Garlinghouse in the latest SEC case.
CryptoLaw.US founder and XRP/Ripple supporter John Deaton took to Twitter to applaud Ripple CEO Brad Garlinghouse’s restraint in the face of the SEC’s legal team’s recent activities in court.
While following the Ripple-SEC case, he also criticised people solely interested in making money from it. As Deaton pointed out in response to a recent Twitter thread by Garlinghouse, the CEO is “showing great restraint” in his comments about the SEC’s legal activities against Ripple Labs.
The creator of CryptoLaw reminded the crowd that the regulatory body has also filed a lawsuit against Garlinghouse and one of the Ripple co-founders, Christopher Larsen, for allegedly selling XRP without authorization.
In a mocking tweet, Deaton claimed that the SEC found Garlinghouse “reckless” for selling XRP without realising that “it was a security.”
Despite this, the SEC reportedly asked for a decade’s worth of bank and credit/debit card transaction records, as reported by Deaton. He said the SEC intimidated and bullied Ripple’s two top executives.
According to Deaton, the presiding judge in the case, Netburn, “shut that gross overreach down.” While responding to Garlinghouse’s furious thread, Deaton said he would likely lack the wherewithal “to be so politely stern.”
John Deaton has also voiced his displeasure with individuals who, in his opinion, are missing the bigger picture regarding Ripple and the SEC’s legal battle over the XRP coin and the firm’s future. The growth of the whole crypto sector is at stake.
Deaton stated that those who solely worry about the value of their crypto holdings increasing are “part of the problem,” even if that value rise is being threatened by unscrupulous regulators cashing out and exploiting the system.
Having a fair playing field is essential for everyone in the crypto community. Suppose you worry about the value of your token or bags increasing. Whether or not that increase is caused by corrupt regulators cashing out and taking advantage of the system, you contribute to the issue.
On June 13th, Deaton tweeted that he had more Bitcoin and Ethereum than XRP when he sued the SEC on January 1st, two years ago (a week after the agency brought accusations against Ripple). Sometimes, he said you can only make it some about the bags.
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