Deaton is recognized for championing the rights of crypto investors, particularly $XRP holders, whom he contended were underrepresented in the SEC’s lawsuit against Ripple.
$XRP tokenholders played a crucial role in helping Ripple Labs secure a victory against the US Securities and Exchange Commission (SEC), a case that officially concluded last month when both parties agreed to dismiss their appeals.
The SEC filed a lawsuit against Ripple in 2020, alleging that the company sold $XRP tokens as unregistered securities. In July 2023, in the US Securities and Exchange Commission’s lawsuit against Ripple, Judge Analisa Torres determined that $XRP is not inherently a security, and the case was fully resolved in August of this year.
Deaton explained on X that, despite more than 2,000 exhibits being submitted, Judge Torres cited just a few dozen, including the $XRP Holder Affidavits, his amicus brief, and oral arguments from the LBRY case. He remarked, “No credible person can argue that the $XRP Army didn’t make a difference in the Ripple case. If they do, they’re either ignorant of the facts and truth or intentionally lying.”
Deaton argues that even one person can change a situation’s outcome
Deaton noted that the court’s acknowledgment of $XRP holder affidavits and his brief validated the role of community voices in the legal process. He stated that without those citations, some might have questioned whether their efforts had any real impact. Still, the ruling itself proved otherwise, showing that the $XRP Army’s activism genuinely influenced the court’s reasoning.
cryptopolitan.com